Day: February 8, 2017

Politicians & the OJK Commissioners Selection Process

Posted by | Feb 8, 2017 |

Minister of Finance Sri Mulyani Indrawati, in her capacity as the head of the committee in charge of selecting the new commissioners of the Financial Services Authority (OJK), revealed that there were 843 applicants, but only 174 had submitted the required administrative documents. The Minister said that the selection committee will announce the list of those who’ve passed administrative verification next week. Reports have came to surface that politicians are among those participating in the selection process.

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Commodities & Indonesian Economy

Posted by | Feb 8, 2017 | ,

The benchmark April 2017 contracts of crude palm oil (CPO) opened higher by RM24 to RM3106 per ton this morning, while in Rotterdam the commodity was traded at US$790/ton CIF early this week. Higher soybean oil prices supported palm oil amidst reports of higher production year-on-year last month.

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Market Snapshots & Corporate Actions/Results

Posted by | Feb 8, 2017 |

Asian shares dipped from four-month highs on Wednesday and the euro was pressured as lingering political and economic uncertainty in the United States and Europe sapped investor confidence, Reuters reported. A raft of strong global economic data and hopes that U.S. President Donald Trump’s stimulus measures would boost U.S. economic growth all helped to support world share markets, and the dollar, since late last year. But some of the moves Trump took since he was sworn in on Jan. 20 have spread anxiety in financial markets, including Trump’s protectionist measures on international trade and controversial steps to tighten entry to immigrants from selected countries. Uncertainty on the new administration’s currency policy is also keeping foreign exchange markets on edge.

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Graft in Indonesia’s Kuala Lumpur Embassy

Posted by | Feb 8, 2017 |

On February 7, 2017 the Corruption Eradication Commission (KPK) announced a new investigation into the allegation of corruption involving the Immigration Attache of the Indonesian Embassy in Kuala Lumpur, Malaysia. The KPK told the press that the case was uncovered with the help of the Malaysian Anti-Corruption Commission (MACC), who began investigating the allegation of illegal levies on passport arrangement especially for Indonesian migrant workers since mid-2016.

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Update on the Trans-Seram Graft Case: New Suspects

Posted by | Feb 8, 2017 |

After months of speculation, on February 6, 2017, the Corruption Eradication Commission (KPK) named new suspects in the case of bribery in the Trans-Seram toll road construction project—the case that is known for bringing down the former member of the House Commission V of the House of Representatives Damayanti Wisnu Putranti (PDI-P). The new suspects are two of Damayanti’s colleagues in the House Commission V, namely, Musa Zainuddin (PKB) and Yudi Widiana Adia (PKS). With this announcement, this case has a total of 10 suspects, 5 of whom are legislators in the House Commission V from 5 different political parties.

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Pressure on Hardline Groups and Their Leaders

Posted by | Feb 8, 2017 |

This morning, Feb. 8, the National Police’s Criminal Investigation Division (Bareskrim) is scheduled to examine the chairman of GNPF-MUI (a coalition of hardline organizations behind the anti-Ahok rallies) Bachtiar Nasir, one of the allies of the leader of the Islam Defenders Front (FPI) Habib Rizieq Shihab. Bachtiar will be examined as a witness in an investigation into money laundering in a foundation. In the meantime, the Jakarta Police has confirmed that the screenshots of a steamy WhatsApp chat between Habib Rizieq and Firza Husein as authentic.

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Fiscal Support & Tax Incentives

Posted by | Feb 8, 2017 |

Finance Minister Sri Mulyani Indrawati revealed on Tuesday (Feb 7) that the Government mulled redesigning fiscal and policies. Speaking at “Investor Gathering” hosted by Eximbank Indonesia, Sri Mulyani noted that the investment during 2016 was hit by pessimistic factors, among other, over the consolidation of the financial sector.

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Trans-Sumatra Toll Roads So Far

Posted by | Feb 8, 2017 | ,

State-owned toll road developer and operator PT Jasa Marga Tbk (JSMR) booked net profit of Rp1.89 trillion (Rp277 per share) last year, an increase of 29% from 2015. The Company, one of developers of trans-Sumatra toll road, spent Rp13.9 trillion in investing activities, skyrocketed from Rp4 trillion only in 2015. This is a confirmation of faster development of toll roads in the country.

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Eka Tjipta Widjaja’s Family

Posted by | Feb 8, 2017 | ,

The family of Eka Tjipta Widjaja, tsar of Sinarmas Group, has released a family tree this morning as part of obituary of Trinidewi Lasuki, Eka’s wife, who passed away on Monday (Feb 6). Trinidewi leaves behind eight children and 26 grandchildren.

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Jokowi, Papua & Freeport

Posted by | Feb 8, 2017 | , ,

President Joko ‘Jokowi’ Widodo is scheduled to visit Papua this week to inaugurate the Cross-Border Post (PLBN) Indonesia-Papua New Guinea (PNG) in Skouw, Muara Tami district, and tradtional market ‘Pasar Mama Mama’. This will be the eight visit to the eastern most provinces since becoming President of Republic of Indonesia in October 2014.

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