Budi Karya Sumadi, Minister of Transportation, told reporters today that the railway connection to Soekarno-Hatta Airport will start operating in December 2017. Railway operator PT Railink, a subsidiary of PT Kereta Api...
Read MoreBank Central Asia (BCA) has fully controlled multi-financing firm PT Central Santosa Finance (CS Finance) after acquiring additional 30% shares for Rp220 billion value from PT Multikem Suplindo. Per Sep 2017, BCA’s equity...
Read MorePT Samudera Terminal Indonesia, a subsidiary of shipping line PT Samudera Indonesia Tbk (SDMR), has agreed in principle to acquire PT PBM Olah Jasa Andal, a unit of PT ICTSI Jasa Prima Tbk (KARW) for US$26 million. Jasa Prima...
Read MoreAnde-Ande Lumut oil project in Natuna Sea is among major oil and gas projects whose development has been delayed for quite sometime now. Australian company Santos Limited, which acquired 50% interest in the block four years ago, yet to start the US$900 million project.
Read MorePresident Jusuf Kalla, who is also a former chairman of the Golkar Party, continues to push for leadership change in Golkar. Should Kalla succeed (with his loyalist appointed chairman of Golkar), he may nominate figures like the Jakarta Governor Anies Baswedan to challenge President Joko “Jokowi” Widodo in the 2019 presidential race. Kalla’s support of Anies made the latter won the Jakarta gubernatorial race, but can such a partnership yield the same result in 2019, even with Golkar in their hands?
Read MoreThe House of Representatives for Aceh (DPRA) is now formulating the law or regulation (qanun) for setting up the syariah financial institution (LKS), which results in the conversion of all conventional banks in Aceh into syariah banks. The central government of Indonesia has given the Aceh province privilege in some sectors for implementing the syariah system, as Aceh, on the northern tip of Sumatra island, stands alone in having formally established Shariah law in Indonesia, a Muslim-majority country with a relatively secular Constitution.
Read MoreState-owned coal miner Bukit Asam (PTBA) has allocated capital expenditures (capex) of US$1.5 billion for building coal-fired power plants next year. Arviyan Arifin, PTBA’s President Director told reported on Friday (Nov. 24) that the said project includes a power plant (in Kuala Tanjung) to support the electricity needs for smelters owned by state-owned miners, led by PT Indonesia Asahan Aluminium (Inalum).
Read MoreForeign investors may have returned to buying local stocks as they booked a net buy of Rp676.97 billion on Friday last week (Nov 24), cutting year-to-date net sell to Rp26.6 trillion. The composite index of the Indonesia Stock Exchange (IDX) ended higher 0.06% at 6,6067.14 points on Friday, not far from its all-time record high. It is interesting to note that foreign investors showed a renewed interest in Indonesian stocks over the past week. Foreigners recorded a “net buy” of Rp2.59 trillion over the course of Wednesday, Thursday, and Friday.
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Talks on the possibility of an expedited leadership change for the TNI continues. The ruling party PDIP has recently recommended the current Air Force Chief of Staff (KSAU) Air Marshal Hadi Tjahjanto as the successor of General Gatot Nurmantyo’s successor. President Joko “Jokowi” Widodo, however, remains silent. Let’s talk scenarios.
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The Corruption Eradication Commission (KPK) announced that they had named the Mayor of Mojokerto (East Java) Mas`ud Yunus as a suspect of bribery. The KPK made the move after examining the result of the Sting Operation they conducted in June 2017. Following said Sting Operation, the KPK named 4 suspects including the Chairman of the Mojokerto DPRD. On a separate case, the KPK expedited the finalization of the docket of the graft suspects involved in the problematic procurement of urea fertilizer between PT Berdikari and PT Perhutani. The suspects will be prosecuted by the Corruption Court of the Semarang District Court in Central Java.
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