Recent Articles
Development of the E-KTP Graft Case
The trial of the two defendants in the electronic identity cards (E-KTP) procurement graft case continues. On April 6, 2017, the Corruption Court of the Central Jakarta District Court listened to the testimonies of several witnesses, including the Speaker of the House of Representatives Setya Novanto and the former Chairman of the Democratic Party Anas Urbaningrum. The trial aside, the Corruption Eradication Commission (KPK) continues to develop their investigation into the case, and has named Hanura politician Miryam Haryani as a suspect of perjury. Here's a brief summary of the statements made in the hearing and the development of the investigation.
Business
In GOLD They Trust
Indonesia Stock Exchange (IDX) might brace for more equities from gold-copper miners. J Resources Asia Pacific (PSAB) is offering up to 20.13 billion new shares and US$300 million 5-Year Notes. Four other gold-copper mines are expected to enter the capital market in the coming years.
Profiles
The New KPU & Bawaslu Line-Up
The House of Representatives (DPR) Commission II has elected the 7 commissioners of the General Election Commission (KPU) and the 5 commissioners of the Election Supervisory Body (Bawaslu), who will lead the KPU and the Bawaslu respectively for the period of 2017-2022.
QUICK UPDATES
Foreign Exchange Reserves Grows $1.9 Billion
Indonesia’s foreign exchange reserves increased by $1.9 billion to $121.8 billion in March 2017 from $119.9 billionin February due to higher proceeds from government portion of export of oil & gas, proceeds from global bonds issued by the government, and auction of Bank Indonesia foreign exchange bills (SBB Valas). This is the highest reserves in almost six years.
Palm Oil Falls 2%, Rubber Lost 5.1%
The benchmark June 2017 contracts of crude palm oil (CPO) ended significantly lower by 2% to RM2655 per ton on the Bursa Malaysia Derivatives Friday (Apr 7). July contracts also fell RM40 to RM2590 per ton, lowest level in months.
IDX Composite Retreats 0.47%, Foreign Buy Jumps
Composite index of Indonesia Stock Exchange (IDX) ended lower by 0.47% to 5653 Friday (Apr 7) despite net buy by foreign investors. Net buy reached Rp1.356 trillion Friday, lifting year-to-date net buy to Rp11.35 trillion. IDX composite has gained 6.74% year-to-date, fifth behind India, the Philippines, Hong Kong, and Singapore.
