Minister of industry Airlangga Hartarto met Junji Uchida, president & representative director of Osaka Steel, in Jakarta Monday (Oct 3). In the meeting Uchida informed Airlangga about completion of the US$220 million new construction steel factory in Cilegon, Banten province. In this report: Salim Group and Tanjung Lingga Group.
Read MoreDisappointed with response from management of PT Go-Jek Indonesia, hundreds of drivers staged a public rally at the city hall on Monday instead. They expected Jakarta governor Basuki Tjahaja Purnama (Ahok) mediating them with the management. This is the third major protest from drivers in three consecutive months.
Read MoreComposite index of Indonesia Stock Exchange (IDX) ended significantly higher by 1.85% Monday (Oct 3), lifted by global sentiment and improved domestic indicators. Most peers ended higher ground with the exception of South Korea, which lost more than 1%.
Read MoreCiputra Group reported a profit earning decline for the first half (H1) of 2016. Its main property developer, PT Ciputra Development Tbk (CTRA) posted a 38% profit drop for the period as revenues declined 8.2% and operating profit fell 26.6%. Other expenses jumped by more than tenfold to Rp118.32 billion and financial cost also increased 15% to Rp258.8 billion.
Read MoreThe Central Bureau of Statisitics (BPS) will release inflation data for September today, which is believed to be under control after posting a 0.02% deflation in August 2016. Year to date, the inflation was recorded at 2.79% per August, lower than 3.21% a previous year. For the full year, inflation is predicted to reach 3%. The La Nina factor could affect the production of some commodities while the government’s policy for the import relaxation would offset.
Read MoreLast week, the Corruption Eradication Commission (KPK) examined Muhammad Nazaruddin, graft convict and the former Treasurer of the Democratic Party for three consecutive days. Nazaruddin, who’s also a suspect in a money laundering case, was examined in connection with his involvement in the abuse of the procurement of electronic identity card (e-KTP). Nazaruddin repeated every testimony he’s given before to the investigators for the past two years in hope that the KPK would finally ensnared the responsible parties, including the former Minister of Home Affairs under Susilo Bambang Yudhoyono’s administration Gamawan Fauzi. But instead of examining the names Nazaruddin mentioned, the KPK named a new suspect in the case.
Read MoreThe General Election Commission (KPU) revealed that eight regions will likely participate in next year’s simultaneous regional elections with only one pair of regional head candidate. One of said regions is the Landak regency of West Kalimantan, which is home to palm oil giants like Sinarmas, Cargill, and more. Landak’s election will be interesting to follow in light of the 2018 gubernatorial race in West Kalimantan.
Read MoreGraft convict Muhammad Nazaruddin, who is also a former Treasurer of SBY’s Democratic Party, has once more mentioned the big names that he believed was involved in the abuse of the electronic identity card (E-KTP) project. But Nazaruddin didn’t stop there. He also mentioned more allegations of graft in the construction of the Constitutional Court’s building involving a former Chief of the Constitutional Court (MK) Jimly Asshiddiqie, who is now the chairman of the Election Organization Ethics Council (DKPP). With 2017 simultaneous regional elections in the horizon, some would not be surprised to hear Nazaruddin speaking up more about other graft cases.
Read MoreOn September 27, 2016 the Wall Street Journal reported that the United State’s Justice Department was investigating the Standard Chartered PLC over the allegations that PT Maxpower Indonesia, a subsidiary of Standard-Chartered-controlled Maxpower Group Pte Ltd, had bribed Indonesian Government officials. The bribery allegedly took place between 2012 and 2015 in the amount of US$750,000. Investigators had supposedly obtained several pieces of evidence, one of which is a record of a conversation. The Corruption Eradication Commission (KPK) reportedly had reportedly received information regarding the investigation and had since conducted its own investigation.
Read MoreLocal media in Surabaya, East Java reported about internal conflict in the family behind Maspion Group (Alim Husni Family) three years ago. They pointed to conflict between Alim Markus and his younger brother Alim Satria, reportedly emerged out of land transactions of PT Bumi Maspion (Maspion IV) in Romokalisari, Surabaya and PT Maspion Industrial Estate (Maspion V) in Manyar, Gresik, East Java.
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