Author: yosefardi.com

Reserve Requirement Raised to 3%

In order to maintain flexibility and distribution of liquidity in the banking industry, BI raised the average reserve requirement (conventional and sharia) from 2% to 3%, as well as raising the macroprudential liquidity buffer...

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BI Rates Raised to 6%

The central bank (Bank Indonesia/BI) unexpectedly on Thursday (Nov 15) raised its benchmark interest rate, 7-day reverse repurchase rate, by 25 bps to 6%, after trade balance posted a gap in October. Policymakers said the...

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Non Tax Revenues Rp315 Trillion

Budget Office at Finance Ministry reported that the state revenues from non tax segment (PNBN) reached Rp315 trillion, surpassing target set on state budget (APBN), inline with increasing commodities prices. State non tax...

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ANTM’s Downstream Development

PT Aneka Tambang (ANTM), a subsidiary of PT Indonesia Asahan Alumina (INALUM), has a few big projects on the pipeline, which, if realized, would help ANTM’s performance. As at the third quarter of 2018, ANTM’s ferronickel production only grew 21 percent or 19,264 tons of TNi. ANTM’s Aprilandi H. Setia said (Nov. 15) that this is ANTM’s optimal production from its facility in Pomalaa, Southeast Sulawesi. Aprilandi said that ANTM continues to work towards developing its downstream side, but as we all know, plans are plenty but finalization has been rather slow.

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Barata’s Expansion into Power Generation

State-owned PT Barata Indonesia have been expanding in the past few years. The Company have collected contracts valued at Rp5 trillion. From the contracts it signed up to Agustus 2018, Barata has, among others, four sugar plants construction projects, three bioethanol plants construction projects, and one gas-powered plant construction project. At the moment, Barata is working on two oil and gas projects, one port crane project, and several projects with the Ministry of Public Works and Public Housing, particularly with the Directorate General of Water Resources.  

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The IPDN Building Corruption

After years of investigation and inquisition, on November 14, 2018, the Corruption Court of the Central Jakarta District Court read the verdict for the former Head of Data and Information System Unit at the Ministry of Home Affairs one Dudy Jocom, who was named a suspect of graft in the construction of the Institute of Public Administration’s (IPDN) faculty building in 2016. Dudy was declared guilty, but the punishment given by the Panel of Judges are only half of the punishment demanded by the prosecutors.

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Merpati is Back

The Panel of Judges of the Commercial Court of the Surabaya District Court has helped Merpati Airlines fly once more. The Panel promulgated the peace agreement between PT Merpati Nusantara Airlines, the State-Owned Airlines, and its creditors. The promulgation means that the peace agreement is legally binding for all parties. That being said, Merpati cannot commence operation immediately.

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