JAKARTA (TheInsiderStories) – Here’s several news could affect stock market compiled by our team and Mandiri Sekuritas :
*The Directorate General of Tax has planned to collect taxes from Facebook, Apple, Twitter and Yahoo as the over the top (OTT) company continues to generate profits in Indonesia. The directorate general revealed that Facebook has generated US$160 million worth of profit. Of US$840 million of profits generated by OTT companies in Indonesia, 70 percent belongs to Google and Facebook. The tax office has brought in Rp932.8 trillion in tax revenues as of Nov. 21, or 68.83 percent of this year’s target.
*Indonesia is considering to import cows from Mexico and negotiations are now underway for that, an agriculture ministry official said. Regarding permit for import of up to 400,000 heads of cows, he admitted that private parties would be given full authority for this purpose and negotiations were on with partners in Mexico. The imported cows were to be distributed in Jakarta and surrounding areas. The country is now importing almost 700,000 heads of cows and most of it are being imported from Australia.
*Crude palm oil (CPO) price is moving towards RM3,000 per metric ton in line with the weakening ringgit and rising world oil prices. If achieved, this would be a record high price of CPO this year. According to Bloomberg, the CPO price in February 2017 delivery contract in Malaysia Derivatives Exchange gained 0.84% to RM 2,954 per metric ton compared to the previous day. In the past week, the price of CPO rose 3.47%.
*PT Angkasa Pura I signed a memorandum of understanding (MoU) with four State Owned Enterprises (SOE), PT Sucofindo, PT Surveyor Indonesi, Virama PT Karya and PT Danareksa Sekuritas. This cooperation is an attempt Angkasa Pura I to achieve operational excellence and service companies (operational excellence and service excellence) by utilizing the synergy of the State Owned Enterprises (SOEs).
*The World Bank predict crude oil prices in 2017 of about US$55 per barrel, up US$2 from the previous forecast. An increase in the estimate was due to members of the Organization of Petroleum Exporting Countries (OPEC) preparing to restrict production after a long period of uncontrolled output.
*PT Bank Mandiri Tbk (BMRI, Rp10,900) inject funds amounting to Rp 500 billion to a subsidiary, Bank Syariah Mandiri (BSM) in order to strengthen the capital of the subsidiary. Post-capital increase, the capital adequacy ratio of Bank Syariah Mandiri will be in the range of 14.5%. Bank Mandiri Corporate Secretary Hafas Rohan said the funds is done to keep the capital BSM remain in a safe position to support the company’s expansion is expected to outstrip the growth financing amounting to 9-10% this year and next year.