Author: yosefardi.com

Former IBRA Chairman Named Suspect, Next?

The Corruption Eradication Commission (KPK) has finally named Syafruddin Arsyad Temenggung, chief of Indonesia Bank Restructuring Agency (IBRA), an agency established to handle bad loans and assets related to Bank Indonesia Liquidity Assistance (BLBI) from financial crisis 1997, as corruption suspect.

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Palm Oil: How Low Will You Go?

The benchmark July 2017 contracts of crude palm oil (CPO) dropped significantly by RM57 to RM2473 per ton on the Bursa Malaysia Derivatives Tuesday (Apr 25). Contracts for October 2017 were the lowest at RM2408, reflecting anticipation of market players about higher supply in the coming months.

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President Jokowi Inaugurates Mitsubishi Factory

President Joko “Jokowi” Widodo today (Apr 25) inaugurated factory of PT Mitsubishi Motor Krama Yudha Indonesia in Cikarang, Bekasi, West Java. This factory is said to absorb around 3000 workers. The competition for automotive industry in Indonesia is growing, and the industry posts an average 10% growth per...

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Jiangling Motors to Enter Indonesia

China-based Automotive manufacture Jiangling Motors Corp Ltd (JMC) is keen to enter Indonesia market, Detikfinance.com repoted. JMC has since 2000 operated in Southeast Asian region such as Vietnam, Philippine, Malaysia, Brunei, and Laos. JMC then now plans to enter Thailand, Myanmar, Cambodia, and Indonesia. JMC produces SUV, MPV, pick-up, light truck, and heavy...

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Groundbreaking of Patimban Port Early 2018

The Transportation Ministry will start construct or build Patimban port (groundbreaking) in Subang, West Java in early 2018. This project costs Rp42.22 trillion. The Government is set to sign loan agreement worth US$1.7 billion with Japan Government in July or August this year. The Government develops new port in Patimban, for replacing Cilamaya port project. Patimban port will have capacity to handle 7.5 million TEUs plus a car terminal for 500,000 cars (by...

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Fishing Port Project Rp13 Trillion in East Kalimantan

Some investors plan to build port for fishing in Tanjung Harapan, East Kalimantan province, which costs Rp13 trillion. This project is proposed by PT Bahtera Pasir Multi Infrastruktur partering with National Standard Finance (NFS), part of World Bank Group, PT Penjamin Infrastruktur Indonesia, and National Development Planning (Bappenas). After 30 years, this port’s ownership will be transferred to local/regional...

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Govt Sets Up Economic Equality Policy

The Government of Indonesia will launch the economic equality policy focusing on four quick wins program; land reform, vocational, public housing for poor, and modern retail & traditional market. This aims to support the quality of economic growth and to reduce the...

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SinemArt’s Shareholding Dispute: Hary Tanoe v. Sariaatmadja

Two of the biggest television companies, PT Media Nusantara Citra Tbk (MNCN) belonging to Hary Tanoesoedibjo and PT Surya Citra Media Tbk (SCMA) controlled by the Sariaatmadja family, are having a dispute over shareholding in PT Sinemart Indonesia, one of the biggest entertainment and production house companies in Indonesia. The dispute occurred after a court decision stating that the sale of shares of PT Sinemart Indonesia to SCMA’s subsidiary, which was conducted in January 2017, is not valid. What’s interesting is that the decision was made in an in absentia trial and PT Sinemart Indonesia had no knowledge of the trial whatsoever. How is that possible?

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Dynamics in Golkar

The former Golkar chairman Aburizal “Ical” Bakrie attended the press conference whereby the gubernatorial pair Anies-Sandi and their supporters celebrated the Pair’s victory in the Jakarta election. Elsewhere, two Golkar elites engaged in an argument on the appointment of Robert Joppy Kardinal as the new head of Golkar faction at the House of Representatives (DPR). Things are moving inside Golkar. The question is, to which direction?

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Corporate Actions & Results

MNC Kapital Indonesia (BCAP) plans to boost its total issued and paid-up capital to Rp40.66 trillion through issuing 406.62 million new shares under preemptive rights scheme. After this transaction, the public investors’ ownership in BCAP shares will increase to 20.74% from current 14.85%. While ownership of BCAP, UOB Kay Hian (Hong Kong) Ltd and HT Capital Investment Ltd will decline to 64.03%, 8.6%, and 6.63% respectively.

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