The Coordinating Investment Board (BKPM) found investment appetite for Indonesia’s pharmacy sector from 4 companies in China. BKPM chairman Franky Sibarani visited 3 cities in China; Qingdao, Hangzhou and Shanghai for promoting investment in Indonesia.
Read MorePanghegar Group’s efforts to rescue its two subsidiaries PT Panghegar Kana Properti and PT Hotel Panghegar is over. At the hearing held on June 15, 2016, both companies were eventually declared bankrupt by the Panel of Judges of the Commercial Court of the Central Jakarta District Court. The legal counsel of both companies Syaiful Huda Lazuardhi told the press that he would propose a wide range of legal actions for he believed the PKPU process was conducted unfairly.
Read MoreThe leadership of the House of Representatives (DPR) is expected to read the letter from President Joko “Jokowi” Widodo regarding the nomination of Commissioner General Tito Karnavian to serve as the next chief of the National Police (POLRI) in a plenary session today (June 20). The plenary will then delegate the task of conducting a fit-and-proper test on Tito to the DPR Commission III. Suppose Tito pass said fit-and-proper test and then appointed as the new chief of POLRI, what can we expect from his leadership?
Read MoreCrude palm oil (CPO) retreated significantly from its recent high in the past few weeks as market participants anticipate higher output in the second half. Investors also responded corrections in crude oil and competing soybean oil. Late last week, we had a chance to discuss market issues and specific company issues with Andrew Michael Vincent, director of Gozco Plantations (GZCO), one companies listed on IDX.
Read MoreThe team of curators on the insolvency of PT Metro Batavia have just announced another plan to distribute the results of the auction of assets in the amount of Rp37,06 billion. In this fourth stage of auction results distribution, the team of curators will distribute to the tax office and Batavia Air’s former employees as the preferred creditors; and to PT Bank Muamalat Indonesia Tbk (BBMI) as the separatist creditor.
Read MoreThe Ministry of Communications & Informatics is expected to submit the list containing the name of the 27 Indonesian Broadcasting Commission (KPI) commissioner candidates to the House of Representatives (DPR) on June 27, 2016 (a day before the DPR enters their recess period). We can thus expect the selection process to be conducted in the following month. Who of the candidates have the chance at passing the selection?
Read MoreThe composite index of the Indonesia Stock Exchange gained 0.26% to 4,847 this early morning trade in line with regional markets. Asia markets turned positive on Monday after the open, amid easing Brexit concerns after several weekend polls showed the remain camp regained momentum ahead of a referendum vote to decide the U.K.’s future within the European Union (EU), Cnbc.com reported.
Read MoreCita Mineral Investindo (CITA) recorded sales revenue of Rp27.4 billion in the first quarter of 2016, very small compared to the Company’s revenues prior to implementation of mineral ores export ban in early 2014, but better than zero in the corresponding period of 2015. Commercial operation of the first smelter grade alumina (SGA) in Indonesia by Well Harvest Winning Alumina Refinery, where CITA is minority shareholder, marks resumption of bauxite mining operations.
Read MorePresident Joko ‘Jokowi’ Widodo has on Friday (June 17) kicked off construction of Pemalang-Batang and Batang-Semarang toll roads, which have been delayed for a decade now. Land acquisition is still a big challenge, but confidence was high upon commercial operation of the first two sections of Pejagan-Pemalang toll road (20 KM) earlier on Thursday.
Read MoreIn a speech delivered at the opening of the 2016 National Conference of Indonesian Chancellors Forum held in late January, President Joko “Jokowi” Widodo told the attendees that there were 42,633 overlapping legislations, of which 3,000 are bylaws considered burdensome for business. The President then said that he had instructed the Minister of Home Affairs to cancel said bylaws. At the beginning of this week, or 4 months later, the Government reportedly canceled 3,143 bylaws. What legal basis did the Government use for this move? What kind of bylaws did they consider burdensome? What are the implications?
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