The composite index of the Indonesia Stock Exchange (IDX) gained 0.6% to close at 5099 Tuesday (July 12), but closed off its low as profit taking hit certain stocks. Trading value reached Rp9.4 trillion, equal to previous day, representing an aggressive investment by investors. Foreign investors booked net buy of Rp1.58 trillion, bringing year-to-date buy to Rp17.09 trillion.
Read MoreThe Government of Indonesia has urged the consortium of PT Bumi Serpong Damai Tbk (BSDE), Astratel, and Trasindo Karya to start constructing the Serpong-Balaraja toll road section (30 km) next month (August). In June earlier this year, the Toll Road Authority (BPJT) selected said consortium as the winner of the Serpong-Balaraja toll road bid.
Read MoreThe appointment of Gories Mere and Diaz Hendropriyono as President Joko “Jokowi” Widodo’s special staffers has become the latest talk of the town. More speculations have emerged surrounding their appointment; the most recent of which is on whether both men were appointed in connection with an up-coming cabinet reshuffle. The biggest question is, what is Jokowi after from Gories Mere and Diaz Hendropriyono?
Read MoreA local media outlet in the Banten province reported about the possibility of PDI-P and Golkar re-entering into a coalition, by pairing the incumbent Governor Rano Karno, who is a PDI-P politician, with the son of former Banten Governor Ratu Atut Chosiyah Andika Hazrumy, who Golkar had names as their gubernatorial candidate. But at the same time, there’s been other reports that the incumbent might end up running with someone else, while Golkar may enter into a coalition with the Democratic Party by pairing Andika with Wahidin Halim—the latter was the runner up in the previous gubernatorial election. And so it appears that the speculations are focused on said three names. It’s clear that PDI-P and Golkar, the two major political parties in the province, will determine the political constellation and the number of pair of candidates that’ll be able to compete in the race.
Read MoreMinistry of state-owned enterprises is finalizing the establishment of holding entity for state-owned mining companies, which would consolidate Aneka Tambang (ANTM), Bukit Asam (PTBA), Timah (TINS), and INALUM. Combined with future ownership in Freeport Indonesia, the new entity will become one of the largest mining companies in the world.
Read MoreThe rupiah strengthened on Monday (July 11) as market welcomed the implementation of Tax Amnesty Bill, which is expected to bring home Rp560 trillion in offshore assets. The Central Bank (Bank Indonesia/BI) noted that the Rupiah reflected the fundamentals of Indonesia’s economy, and that it would intervene in the currency market for protecting the rupiah from widely moving up or down for the sake of export. For local feed producers, the rupiah appreciation would benefit cut import cost of raw materials, and that the appreciation would mostly help them avoiding loss from foreign exchange (forex) as they have huge dollar debt exposures.
Read MoreNews has emerged that the holder of the permit for the reclamation of Benoa Bay, PT Tirta Wahana Bali Internasional (TWBI) owned by tycoon Tomy Winata, has applied for license renewal to the Minister of Marine and Fisheries Susi Pudjiastuti.. There’s always been a strong opposition towards the reclamation plan coming from various elements of the Balinese civil society, but the licensing issue involved is anything but straightforward, which would explain why the Government has appeared slow to respond to the development.
Read MoreThe investigation into the bribery involving the former member of the Jakarta Regional Representatives Council (DPRD Jakarta) Mohamad Sanusi and the President Director of PT Agung Podomoro Land Tbk (APLN) Ariesman Widjaja has led to a new case. The Corruption Eradication Commission (KPK) named Sanusi as a suspect in a money laundering investigation on June 30, 2016. Some of Sanusi’s assets have been seized, but until today the KPK continues to develop their case.
Read MoreInvestors were aggressively buying local stocks on Monday (July 11) with trading value reaching Rp9.6 trillion, reflecting the strong appetite of buying by investors. The composite index of the Indonesia Stock Exchange (IDX) gained 1.96% to close at 5069 yesterday, hitting a 13-month high. Foreign investors booked net buy of Rp1.51 trillion, bringing year-to-date net buy to Rp14.53 trillion.
Read MoreState-owned oil and gas company is set to become holding company for state-owned oil and gas companies, which includes transmission and distribution company PT Perusahaan Gas Negarra (PGAS) Tbk. Draft of government regulation for the assignment of Pertamina as holding company is now in the hands of President Joko ‘Jokowi’ Widodo.
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