Recent report from Tokyo shows that Indonesia’s Purchasing Manager’s Index (PMI) was down sharply to 48.4 in July 2006. Pollyanna De Lima, an economist at Markit, said that “Indonesia’s manufacturing sector is back in reverse gear, with operating conditions deteriorating at the quickest pace in 2016 so far. A marked drop in new work led firms to cut back production, employment, purchasing and stock levels.”
Read MoreThe proposed budget cut will unlikely affect major infrastructure projects in the country. Tax amnesty program is expected to give a boost to the program as well. Accordingly, infrastructure development is still the most interesting news from Indonesia to global investors. In this edition, we highlight progress in mass-rapid transit (MRT), light-rail transit (LRT), airport trains, airports, and ports.
Read MoreYesterday (August 7) was the last day of registration for independent candidates. One pair of independent candidates have registered themselves at the local election commission (KPUD) of Jakarta to compete in Jakarta’s 2017 gubernatorial election, they are Ichsanuddin Noorsy and his running mate Ahmad Daryoko. Who are they? Will they pass the verification process?
Read MoreForeign investors have been consistently buying local stocks after the start of the Tax Amnesty Program. As of June 20, foreign investors booked net buy of Rp6.38 trillion. While year to date (until August 5), foreign net buy reached Rp32.5 trillion, meaning that foreign buying on the tax amnesty euphoria has amounted to Rp26 trillion. We wonder if this will last.
Read MoreThe ruling party PDI-P has had the biggest advantage in politics with the rise of Joko “Jokowi” Widodo. PDI-P is also supposed to have benefited from the fading influence of the opposition group led by Gerindra and the realignment of a member of the opposition Golkar into the ruling coalition. With said advantages, PDI-P should’ve been able to dominate, but that has not been the case. The ruling party continues to make unnecessary manuvers that are now leaving the door wide open for other parties to steal the show.
Read MoreA month has gone by since the House of Representatives (DPR) agreed to pass the Bill on Tax Amnesty into Law No. 6/2016. The Government had since enacted three derivative regulations governing the implementation of the Law, but not enough has been done to improve on the Government’s chances of achieving their target of 165 trillion rupiah in revenue from tax redemption fee.
Read MoreThe insolvency proceedings of PT Saripari Pertiwi Abadi (SPA) is nearing the finish line. The team of curators responsible for the bankruptcy process has reportedly finished the verification of the bills registered by the company’s former employees. And so the curators are supposedly ready to conduct liquidation and execute the Company’s assets. But the Company is still trying to escape bankruptcy by filing for a Reconsideration (PK).
Read MoreOn July 27, 2016 the Singapore High Court published the judgement on the case of extended doctrine of res judicata between Antariksa Logistics Pte Ltd against Nurdian Cuaca. The case was first tried in the Singapore High Court in 2009, and it led to several other criminal cases in Indonesia. The case was filed once again in June 2015 to be re-examined.
Read MoreConstruction of three toll roads—-Pandaan-Malang (37.6 KM), Balikpapan-Samarinda (99 KM), and Manado-Bitung (39 KM)—-will gear up later this year. M Toha Fauzi, operational director of PT Pembangunan Perumahan Tbk (PTPP), a state-owned EPC firm, said land acquisition in the toll road projects has increased significantly in the past few weeks.
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