Day: August 19, 2016

Tax Amnesty in Action (8)

One property developer claimed participant of the tax amnesty program has expressed his/her interest to use the repatriated funds to acquire one of its buildings. This, of course, could be a marketing gimmick, because the property company is launching an initial public offering (IPO). So, the said taxpayer should have planned to repatriate quite a big amount of money.

Read More

Revisiting Soechi Lines

Shipping and shipyard company PT Soechi Lines (SOCI) Tbk has on August 16 signed five-year US$180 million syndication loan facilities with several banks to refinance its existing debentures, funding capital expenditures, and working capital.

Read More

Softer Second Quarter for Indofood Group

Indofood Sukses Makmur (INDF), one of the country’s largest integrated food and beverage companies, booked net profit of Rp2.23 trillion in the first half of 2016, an increase of 28.9% from the corresponding period of 2015, but its sales and operating profit actually inched up 4.4% and 4.2% respectively.

Read More

Legislative Journal: PP No. 34/2016

On August 8, 2016 the Government issued Government Regulation (PP) No. 34/2016 regarding income tax imposed on income derived from the transfer of rights to land and/or buildings, and from agreement of sale and purchase of land and/or buildings. PP 34/2016 is the replacement of PP No. 71/2008, which was the amendment of PP No. 48/1994. The new PP will come into force starting September 8, 2016. The following is a brief description of the content PP 34/2016.

Read More

Updates on Meranti Maritime’s PKPU

The process of PKPU for PT Meranti Maritime will be over soon. The bill of one creditor that was not previously accepted by the team of administrators has reportedly been addressed through other mechanisms. That said, the problems following this PKPU process are so complex it may not be resolved in the near future, whereas the time limit provided by the law is almost over. Can Meranti Maritime escape bankruptcy?

Read More

Oil & Gas Journal

The Ministry of Energy & Mineral Resources (ESDM) issued a list of ten strategic issues for the oil and gas sector targeted for acceleration, including the revision of the Government Regulation Number 22 Year 2001 regarding oil and gas.

Read More

Rumors on the Selection of the New Minister of Energy and Mineral Resources

As expected, rumors are widely circulating on who shall be the new Minister of Energy and Mineral Resources (ESDM) to replace Arcandra Tahar. Inside the Ministry of ESDM, people are still talking about the likelihood of having the President’s Spokesperson Johan Budi Sapto Prabowo as their new Boss. Some say Johan would suit the role, especially given his vast experience in the Corruption Eradication Commission (KPK), and the fact that he actually majored in petroleum and natural gas engineering in his undergraduate years at Universitas Indonesia.

Read More

Luhut on Masela and the IDD Project

Starting August 17, The Acting Minister of Energy and Mineral Resources (ESDM) Luhut Binsar Panjaitan began working at the ESDM headquarters. He looked very busy and rushed, as he’s also keeping his primary role as the Coordinating Minister for Maritime Affairs. Yesterday (August 18), at the oath-taking ceremony for the new head of the Geology Agency Ego Syahrial, who replaced Surono (otherwise known as Mbah Rono), Luhut told the press that he wouldn’t be acting minister of ESDM for long. “I’m going to be exhausted if this were to go on as is. Just one role is already tasking.”

Read More

Q&A with Angkasa Pura I

State-owned airport management company Angkasa Pura I has on Thursday (Aug 18) signed Rp4 trillion syndication loan facilities with PT Sarana Multi Infrastruktur (SMI), PT Bank Central Asia (BBCA) Tbk, PT Indonesia Infrastructure Finance (IIF), PT Bank Mandiri Tbk (BMRI), and PT Bank Rakyat Indonesia (BBRI) Tbk for the development of some airports under its management.

Read More

Market & Corporate Actions/Results

Amid mixed Asian stock markets, the composite index of the Indonesia Stock Exchange (IDX) surged a whopping 1.67% to close at 5,461 on Thursday (August 18), one day after Indonesian markets were closed for Independence Day celebrations. Foreign investors booked net buy of Rp1.4 trillion yesterday, bringing year-to-date net buy to Rp 39.85 trillion.

Read More
error: Content is protected !!