Indonesia’s Fit Company Raised Seed Funding from East Ventures

JAKARTA (TheInsiderStories) — The Fit Company, a holding company that focuses on active and healthy lifestyle products in Indonesia, announced that it had secured an undisclosed amount of seed funding from East Ventures. Jeff Budiman, CEO of The Fit Company comments, “We are really excited...

BI: Rupiah Has Comes Out Its Fundamental Level

JAKARTA (TheInsiderStories) - Is not an easy for the economic leaders to determine the volatility in the financial market amid the global economic turbulences. The sell-off in emerging market currencies and the escalating global trade tensions have sparked demand of the greenback. On Tuesday (04/09), Indonesian Rupiah almost touched...

Morning Briefing: Vice President Uncertainty Puts Opposition in Limbo

JAKARTA (TheInsiderStories) - Good Morning. Expect politics to dominate the news streams in the next few days as lobbying for the Vice President seat is intensifying as deadline to register for 2019 Presidential Election nears. The opposition may encounter more difficulties than the ruling coalition. On Tuesday...

Moody’s Affirms United Tractors Baa2 Rating, Outlook Stable

JAKARTA (TheInsiderStories) - Moody's Investors Service has affirmed Indonesian coal miner, PT United Tractors Tbk (IDX: UNTR)' Baa2 issuer rating. The outlook remains stable. The rating affirmation reflects United Tractors' strong balance sheet, leading market positions in Indonesia for its mining services and heavy equipment businesses, and...

Morning Briefing: Indonesia Loosens Grips on Several Taxes and Levies

JAKARTA (TheInsiderStories) — Good morning! Indonesian government unobstructed some of its revenue budget, by agreed to implement zero export levy for Crude Palm Oil (CPO) and its derivative products. The levy adjustment was made due to emergency condition of palm oil price slump. CPO price has been...

Indonesia, Japan, Extends Swap Agreement

JAKARTA (TheInsiderStories) - Bank Indonesia (BI) and Bank of Japan (BoJ) signed Bilateral Swap Agreement to overcome the difficulties of short-term liquidity, marking their third extension since Feb. 17, 2003. The swap value remains up to US$22.76 billion or equivalent. The agreement signed by BI's governor Perry Warjiyo...

Developing Asia to Grow Just 0.1%, Indonesia Contraction 1.0%

JAKARTA (TheInsiderStories) - Developing Asia will barely grow in 2020 as containment measures to address the COVID-19 pandemic hamper economic activity and weaken external demand. The agency forecasts growth of 0.1 percent for the region in 2020, down from the 2.2 percent forecast in April and would...

Morning Briefing: Ruling Coalition Benefited from Demokrat’s Hesitance

JAKARTA (TheInsiderStories) - Good morning. The Demokrat Party made an unpopular and surprising decision by allowing his cadres not adhering to the party’s line in supporting the opposition camp in the 2019 Presidential Election after a slew of party officials jumped ship and decided to back...

Global Economy Insight: Steady Growth Amid Gathering Storm Clouds

JAKARTA (TheInsiderStories) - World real gross domestic product (GDP) growth is projected to hold steady at 3.3 percent this year before easing to 3.2 percent in 2019 and 3.0 percent in 2020, said Chief Economist Nariman Behravesh and Sara Johnson, the executive director, Global Economics of...

Insight: Assessing Widodo’s Agrarian Reform Concept

JAKARTA (TheInsiderStories) – The five-year period of Joko Widodo - Jusuf Kalla' leadership was almost over. Since the beginning, the leaders has made agrarian reform and social forestry one of the priority agendas. He promised to distribute nine million hectares of land and community...

Breaking News: AHY, Uno Race for Subianto’s VP Slot

JAKARTA (TheInsiderStories)--The opposition camp is expected to officially declare endorsement for Prabowo Subianto’s presidential ticket and his running mate today. After weeks of back-and-forth negotiations between presumptive members of the opposition, the list of candidates to become Subianto’s vice president has narrowed down to Agus...

Insight: Indonesian Economy in the Middle of Trade War and Post Presidential Election

JAKARTA (TheInsiderStories) - Indonesia is still optimistic that it will be able to attract more investment in the last half year of 2019, after the rising political tensions of  simultaneous legislative and presidential elections on April 17, 2019. Another issue is Indonesia’ economy also faced with ongoing...

IHS: Recovery in Global Economic will take Two to Three years

JAKARTA (TheInsiderStories) - The global economy is in the midst of the worst downturn since the 1930s. China’ real GDP plunged a record annual rate of 33.8 percent in the first quarter (1Q) of 2020. On a comparable basis, IHS Markit estimates that US real GDP...

Fewer APAC Projects, Infrastructure Companies Have High Exposure

JAKARTA (TheInsiderStories) - High proportion (67 percent) of rated project and infrastructure companies in Asia Pacific continue to have low exposure to the coronavirus-related disruptions, supported by their essential nature and predictable cashflows. Our conclusions are contained in an update to its heat map for the...

B20 Not Yet Fully Implemented in Indonesia

JAKARTA (TheInsiderStories) – The use of biodiesel 20 percent (B20) as required by the government since Sept. 1, 2018 is not yet fully implemented due mainly to distribution problems. The use of B20 is aimed to reduce import of oil fuel, which is seen as the...

The Global Economy Outlook is Highly Uncertain

JAKARTA (TheInsiderStories) - The Organization for Economic Co-operation and Development (OECD) predicts that the global economy will contract at least 6 percent in this year, suppressed by the COVID-19 pandemic. While, Indonesia' economy has the potential to contract 3.9 percent if there is second wave of...

Insight: Indonesia’s Digital Business Needs Guaranteed

JAKARTA (TheInsiderStories) - Indonesia is one of the countries where the development of startups is rapidly increasing. Why are they flourish in Indonesia, the reason because it fits with the Indonesian trade climate. So, the presence of startup companies, whether they are in the form of...

Insight: 212, Is Indonesian Islamic Populism Rising?

JAKARTA (TheInsiderStories) – The big alumni reunion took place again, two years after its founding at the end of 2016. The 212 groups was initiated by the Islamic Community Forum and various other mass organizations. This action began when there was a controversy over the...

Coronavirus, India’s Downgrade Push Potential “Fallen Angels” in Asia

JAKARTA (TheInsiderStories) - As of June, number of companies most at risk of losing their investment-grade ratings, potential fallen angels, in Asia, excluding Japan and Australia, climbed to 21 from 8 at the end of 2019, due to lower earnings and cash flow caused by...

Emerging Market Issuers Take Hit from COVID-19 as Global Recession Deepens

JAKARTA (TheInsiderStories) - The global recession is deepening as coronavirus-related restrictions exact a high economic cost and expect the real GDP to contract by 1.0 percent for Group of 20 emerging market (EM) economies in this year. We have already seen a large number of downgrades among...

Morning Briefing: External Environment Continues to Pressure Rupiah

JAKARTA (TheInsiderStories) - Good morning. Expects more pressure on the financial market and especially the Rupiah as external environment continues to work against Indonesia’s favor. The Rupiah ended down at 14,840 per US$1 on Tuesday (04/08), closer to the 15,000 per US$1, seen by many as the...

The Office will Remain But Employee Experience will be Different

JAKARTA (TheInsiderStories) - Companies in the Asia Pacific are reviewing their commercial real estate strategy amid a lockdown policy imposed by the government and work-from-home arrangements due to the COVID-19 pandemic. Office rental activity globally decreased by 22 percent compared to the first quarter (1Q) of 2019...

COVID-19 Recession to be Deeper than 2008 – 2009

JAKARTA (TheInsiderStories) - This interim global forecast is the second prepared in March and is much more pessimistic than our March 17 regularly scheduled outlook. It is based on major downgrades to forecasts of the United States (US) economy and oil prices. The risks remain overwhelmingly on...

Japan-EU Concludes Trade Agreement, Export Rises in June

JAKARTA (TheInsiderStories) - Japan's Prime Minister Shinzo Abe  and European Union (EU) and European Commission (EC) signed the strategic partnerships agreement (SPA) and Economic Partnership Agreement (EPA) on Tuesday (17/07), the premier office said in a press statement on July 18. The signing agreement held on the...

Morning Briefing: Indonesia Financial Market Depresses Once Again

JAKARTA (TheInsiderStories) – Good morning! Indonesia financial market is now under pressure. After strengthening in the last few weeks, Rupiah touched 14,000 against US Dollar again. The Jakarta Composite Index was not so good either by falling by 0.4 percent to 6,495 with Rp132.9...

Singapore’s Helicap Raises US$5M Led by East Ventures, Soilbuild Group

JAKARTA (TheInsiderStories) - Helicopter Capital (Helicap), a financial technology investments platform in South-east Asia & Oceania announced today that it raised US$5 million during its pre-Series A funding round led by East Ventures and Singapore’s leading integrated property group Soilbuild Group Holdings. According to East Ventures statement...

Insight: Most of Indonesian Society Rejects the Return Dual Functions of Army

JAKARTA (TheInsiderStories) – Lately began to be hot talking about the discourse of returning the National Army dual functions within the structural sphere of government. This discourse is actually not new one. Previously, it was also rumored about the involvement of active army officers...

Indonesia Revises Online Transportation Rule

JAKARTA (TheInsiderStories) - Indonesian Ministry of Transportation released a new order about online transportation, stated in Ministry Regulation Number 118 Year 2018 concerning of the Special Rental Services to replace the previous rule. The decree was signed by the Minister of Transportation Budi Karya Sumadi on Dec....

COVID-19 to Precipitate US Recession in Second Quarter

JAKARTA (TheInsiderStories) - The spread of COVID-19 to the United States (US) is causing a sharp contraction in spending on activities that involve travel and congregating in public. Given the speed of these developments, we are taking the unusual step of updating our base forecast for...

Indonesian Military, Police Raids Free-Papua Movement Headquarters

JAKARTA (TheInsiderStories) – After raided National Committee Free-Papua Movement (FPM) headquarters by Indonesian military and police, the advocacy team issued a subpoena to the Mimika Regional Police. The letter signed by the organization lawyers Veronika Korman, Gustaf R Kawer and Yohanes Mambrasar. In the letter, they urged...