Author: yosefardi.com

Financial Service’s Policy Package

The Government has launched a total of 16 Economic Policy Packages as of last year. The results, according to the Government, can be seen in the increasing international trust in Indonesia’s economic resilience. Recently, the Financial Service Authority (OJK) followed the Government’s steps and launched a Policy Package that focuses on policies to encourage increased exports and supports national economy. OJK hopes that the policies to be enacted can help the national economy escape global pressure.

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Trade War: Indonesia v. United States

Following the United States’ threat on Indonesian export, Minister of Trade Enggartiasto Lukita visited the country last month. But apparently, the visit did not yield the expected result. Earlier this month, The United States (U.S.) had notified the Dispute Settlement Body (DSB) of the World Trade Organization (WTO) that they considered Indonesia had failed to comply with the recommendations and rulings of the DSB. Last week, the Government stated that its representatives had attended the DSB meeting held on August 15, 2018 and spoke Indonesia’s stance on the issue.   As we previously reported, the U.S. had urged the World Trade Organization (WTO) to impose an annual sanction on Indonesia over trade disputes that supposedly cost U.S. industries US$350 billion in 2017. The U.S. considers Indonesia not serious in implementing policy changes after losing trade dispute against the U.S. and New Zealand. The two countries won the dispute over Indonesia’s import restriction on food, plants and animal products, including apples, grapes, potatoes, onions, flowers, juice, dried fruit, cattle, chicken, and beef. Indonesia also lost an appeal in 2017. In April 2018, the Office of the United States Trade Representative (USTR) announced it would launch a review into Indonesia’s Generalised System of Preferences (GSP), a program that offers exemptions from trade barriers, along with the trade policies of India and Kazakhstan. In a statement posted on the institution’s official site,...

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Jokowi’s Campaign Team

The past few days have been President Joko “Jokowi” Widodo’s stage. First, he led the celebration of the country’s 73rd Independence Day (Aug 17); and then he led the Asian Games torch relay; a day later, he opened the Asian Games with a brilliant ceremony at the Gelora Bung Karno (GBK) Stadium. But all of that would be for naught if Jokowi cannot find a competent leader of his campaign to capitalize on the President’s many stages. Talking to the press on Sunday (Aug 19), the Secretary General of PPP Arsul Sani said that the coalition left it up...

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The Collapse of Electronic Solution

Indonesian Court had on August 16, 2018 granted the Suspension and Debt Payment Obligations (PKPU) Petition filed by Bank Resona Perdana against PT Sumber Electrindo Makmur, operator of Electronic Solutions outlet. Under PKPU, PT Sumber is given a temporary moratorium of 45 days, which can be extended to a fixed moratorium not exceeding 270 days, during which period a composition plan will have to be submitted for approval by PT Sumber’s creditors.

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Coal Swaps Hit Indo Tambangraya

Unlike peers, which reported higher net profit from strong average price, coal miner Indo Tambangraya Megah (ITMG), controlled by Thailand-based Banpu Pcl, booked net profit of US$103 million in the first half of 2018, down slightly by 2.2% from the corresponding period last year. 

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Why 2019 Still A Difficult Race for Prabowo

Sandiaga Uno, running mate of Prabowo Subianto, is seen aggressive, at least in media reports, in reaching out to various mass organizations and influential figures to build up support for next year’s race. He is scheduled for speech in an economic dialogue organized by KADIN, HIPMI, and some other business associations in Makassar, South Sulawesi tomorrow.

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Revisiting Petro Energy

Established seven years ago, Petro Energy Group has grown into a more significant energy player in the country. The company claimed itself as one of the three largest importers and suppliers of fuel in Indonesia. The coal mining subsidiary, meanwhile, is set to benefit from strong prices of the commodity.

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Those Continue to Grow: Sinarmas Coal

Pretty much as predicted, Sinarmas Group has become third largest coal player in Indonesia behind Bumi Resources/Bakrie and Adaro Group at the moment. In the first half of 2018, Golden Energy Resources (GEAR) Ltd, parent of PT Golden Energy Mines Tbk (GEMS), produced 9.1 million tons of coal, jumped 51% from the corresponding period last year.

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Balikpapan Refinery Upgrade: Moving Closer?

After decades of delay, upgrading of Pertamina’s oil refinery in Balikpapan, East Kalimantan, is moving closer to a reality. It is still long way from scheduled commercial operation in three years time, but looks like that the multi-billion USD project has entered a more crucial stage following the appointment of WorleyParsons by Pertamina.

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People on the move

Comm General (police) Ari Dono is scheduled to be sworn in as new vice chief of the national police, replacing Syafruddin, who has been appointed minister of state apparatus and bureaucracy reform by President Joko ‘Jokowi’ Widodo this week. This is pretty much in contrast to the name repeatedly mentioned by House Speaker and Golkar politician Bambang Soesatyo.

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