Day: February 6, 2017

Infrastructure Journal No. 05/2017

Posted by | Feb 6, 2017 | ,

President Joko ‘Jokowi’ Widodo led a limited cabinet meeting about development of mass rapid transit (MRT) and light-rail transit (LRT) in Jakarta Monday (Feb 6). Other than demanding completion of the projects in 2018-2019, the President also asked for transfer of technology. Attending the meeting were coordinating ministers and related ministers, including Budi Karya Sumadi (transportation), Rini Soemarno (state-owned enterprises), and Sri Mulyani (minister of finance).

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Jakarta’s 2017 Election: Survey Figures & Battle of the Giants

Posted by | Feb 6, 2017 |

In the past few days, three pollsters released three different polling results. But despite the difference in results, the findings share the same red thread: none of the three pairs considered in all three surveys have dominant electability. Indeed, the electability of the pairs in all three survey show a greater likelihood of a two-round election this February.

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Market Snapshots & Corporate Actions

Posted by | Feb 6, 2017 |

Foreign investors kept buying local stocks as they booked net buy of Rp347.2 trillion, cutting year-to-date net sell to only Rp149.2 billion on Friday (Feb 4). Some positive economic data, also positive corporate earning reports, prompted investors to buying more local stocks. The composite index of the Indonesia Stock Exchange (IDX) gained 0.13% to close at 5,361 on Friday with trading value reaching Rp7.26 trillion, higher than average daily trading value of Rp5.89 trillion. The rupiah also strengthened to Rp13,362 against the U.S. dollar. Today investors are waiting for the release of the economic growth data for the fourth quarter of 2016.

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Pertamina’s Graft Woes

Posted by | Feb 6, 2017 |

Last week, the Government announced the dismissal of the President Director and Vice President Director of PT Pertamina (Persero) Dwi Soetjipto and Ahmad Bambang. The dismissal, according to the Minister of State-Owned Enterprises Rini Soemarno, bore no political reason; both had to be dismissed because they supposedly could not cooperate with each other. This is an interesting development given that Pertamina is under intense scrutiny. Ahmad Bambang is now being examined as a witness in a case of alleged corruption involving PT Pertamina Trans Kontinental. On the same day the dismissal was announced, the Attorney General’s Office (AGO) also announced the naming of the former President Director of Dana Pensiun Pertamina M. Helmi Kamal Lubis as a graft suspect. To this day, the AGO is investigating 3 allegations of corruption in Pertamina and its subsidiary. The National Police’s Criminal Investigation Division (Bareskrim Polri) is also investigating 1 case of alleged corruption involving Pertamina.

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Jakarta Election & Alcohol Rhetorics

Posted by | Feb 6, 2017 | , ,

Jakarta election campaign will be over soon, at least until February 15. Much have been said by the three pair candidates about all kinds of issues, including their standing on alcoholic beverages and the city administration’s ownership in beer producer PT Delta Djakarta Tbk (DLTA). Some of their rhetorics might end up in policy changes, while others might just end up in the air.

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A New Investigation into the Mobile-8 Tax Restitution Case

Posted by | Feb 6, 2017 |

In late November 2016, the South Jakarta District Court decided to partially grant the pre-trial lawsuits filed by the two suspects in the PT Mobile-8 Telecom Tbk (Mobile-8) tax restitution fraud case. The two suspects, i.e., Hary Djaja and Anthony Chandra Kartawiria have since been freed from criminal charges. The Court also stated that the Attorney General’s Office (AGO) do not have the authority to investigate cases such as the tax restitution case. The AGO, however, refused to back down and last week it issued a new warrant of investigation for the same case. The AGO will have to start over the process of investigation.

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Concern Over Trump & Inflation

Posted by | Feb 6, 2017 |

The Financial System Stability Committee (KSSK) revealed that the President of the United States Donald Trump was considered to be a serious concern factor for many countries for his controversial policies and its negative impacts. The protection of trade, tax cut, and repatriation of funds are among the policies put forth for the U.S. economy to grow 4% per year, from current 1.6% only. Tax cut will result in the decline in state revenue, while the expected aggressive spending would boost budget deficit. Currently the United States’ tax ratio over the GDP reaches 104.17%.

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Plantation Journal No. 05/2017

Posted by | Feb 6, 2017 | ,

Natural rubber opened lower by 0.92% to 301 yen per Kg in Tokyo this morning, but the commodity is still 103.5% above the same period last year. Crude palm oil (CPO), meanwhile, retreated to below US$800 per ton in Rotterdam late last week on perception about higher January output in Indonesia and Malaysia.

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Revisiting Nickel Projects (1): China Hanking

Posted by | Feb 6, 2017 | , ,

Nickel fell significantly since Indonesian government issued new mining regulations, which, among others, allowing export of low-grade nickel ores. The commodity, key component in the production of stainless steel, however, regained grounds following wider environmental crackdown in the Philippines. Nickel retreated to US$10,160 per ton last Friday in London Metal Exchange (LME), but still substantially higher than the corresponding period last year.

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