Author: yosefardi.com

Harry Tanoe: Debts & Politics (II)

Hanura Party, where Harry Tanoesoedibjo is the ‘campaign manager’, sets an ambitious target to come out as third largesy party in April election. Latest survey from Kompas, the largest newspaper in Indonesia, pointed to Hanura in sixth behind Nasional Demokrat and President SBY’s Democratic Party. What a stronger political power means for Harry’s MNC Group, public shareholders, and creditors?

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Soekarno-Hatta Airport: What’s Going On?

The Vice President of the Republic of Indonesia recently spoke to journalists after a meeting with the Minister of Transportation that the Government will work on improving, among others, Soekarno-Hatta’s spatial arrangement and configuration of runway and taxiway. The Government hopes to increase Soekarno-Hatta’s ability to handle flights from the current 64 flights per hour to 72 flights per hour by 2014 and 86 flights per hour by 2015. Until that happens, flying in and out of Jakarta won’t get any easier. What’s really going on with Jakarta’s international airport?

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Harry Tanoe: Debts & Politics

On May 16, 2013, Ottawa Holdings Pte Ltd, unit of MNC Investama (BHIT) issued US$365 million 5.875% Senior Secured Guaranteed Notes due 2018. Market price of the Notes, unfortunately, has dropped significantly in the past few months on potential higher risks because of falling rupiah, while most of revenues are generated in rupiah.

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Balance of Government: A Case Against Early Nomination of Jokowi

Last week, in our daily editorial meeting, a member of our team came with the suggestion to cover the “supposed” confirmation of Jokowi’s nomination by the Secretary General of the Indonesian Democratic Party of Struggle (PDI-P), TJahjo Kumolo. Tjahjo was quoted in one of Jakarta’s English language newspaper stating that his party has not declared their candidate for the 2014 presidential election out of fear of negative campaigns. But I want to note that nowhere in the article did I read an explicit confirmation that Jokowi will indeed be PDI-P’s candidate. So I turned down the proposal.

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Market Snapshots & Corporate Actions

Business and banking sectors demand central bank, Bank Indonesia (BI), to maintain the benchmark BI Rate at current level of 7.5% as another hike would hurt bond market, property, financial, manufacture sectors—the backbone of domestic economic growth. BI Rate is potentially raised again to 8% this month as the current account deficit is remain high. The mineral ore ban policy is expected to cut mineral ore export by US$5 billion, more pressure for current account deficit and rupiah.

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Twitter, Politics, and Fake Followers

In our previous article on Indonesian politicians in Twitter, we talked about Twitter as a means for Indonesian politicians to introduce themselves to their (potential) constituents. Today, we will talk about one of the tricks politicians and political parties could do to gain Twitter followers and thereby create the impression of popularity.

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UPDATE: Jakarta City Budget Standstill

The City Council of Jakarta (DPRD DKI), to this day, have not yet approved the capital city’s budget (APBD). DPRD DKI have blamed lack coordination on the part of the Jakarta Government (Pemprov DKI) for the delay. Pemprov DKI have more or less given up on trying to explain why DPRD DKI is taking its time. Whatever the real reason may be, DPRD DKI should be ashamed of themselves for not being able to pass the budget when it was supposed to be passed November last year. We heard that DPRD DKI could sign off on the 2014 APBD tomorrow (Wednesday Jan. 22) but then again, the Chairman of DPRD DKI, Ferrial Sofyan, was quoted in the media stating that he and his colleagues may decide to, yet again, postpone the passage of the budget until February. Madness!

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Bagus Group & Consumer Boom

Bagus Group and its controlling owner enjoyed the boom of consumer market in recent years. The owner, despite controversies surrounding Kopitiam trade mark dispute, was elected chairman of The International Association of Fuzhou Corporation in December 2012 to lead Indonesian Chinese.

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Darma Henwa & Divestment of DH Energy

Darma Henwa (DEWA), mining contractor, has signed share purchase agreement (SPA) with Lennette Limited for the divestment of 93.47% shares in PT DH Energy at undisclosed consideration. DEWA said this is part of the company’s restructuring, i.e. divesting non-productive assets. Something to do with mine-mouth power plant project in South Sumatra?

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Noble Group’s Investments in Indonesia

Noble Group Ltd, one of the region’s major players in resources business, has acquired 100% shares in PT WHS Maritime Investment, which has involved in disputes with directorate general of customs and excise at ministry of finance. At the same time, Noble divested its ownership in PT Jatro Indonesia.

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