Author: yosefardi.com

Banking Update

Indonesia’s central bank (Bank Indonesia/BI) indicates a higher growth in new loan for the second quarter (Q2) of 2018, and a strong growth in Q3 this year. BI said that banks will tighten loan disbursement through lifting lending rates and limiting the loan ceiling, mainly loan for investment and working capital.

Read More

Market Snapshots

Major stock indexes in the Asia-Pacific region closed lower on Tuesday (July 17), mainly dragged down by energy shares after a fall in oil prices in the previous session. Investors also opted to sell stocks yesterday, as they did the previous day, after data showed China’s economy expanded at a slower pace in the second quarter on the back of softer global trade and the tightening of financial policy.

Read More

PT Quick Service Restaurant Inks Deal with Texas Chicken®

PT Quick Service Restaurant (QSR) recently signed an 80-restaurant deal with Texas Chicken®, one of the world’s largest quick-service chicken restaurant chains. The franchisee will open and operate locations primarily in Indonesia which is one of the fastest growing markets for the fried chicken giant. The franchise is projected to open their first three restaurants by the end of 2018. QSR is the third franchisee to enter into the market. The franchise group is joining PT Quick Serve Indonesia who signed a development agreement earlier this year and PT Cipta Selera Murni who has been in the market since 1985 and has 59 restaurant locations. QSR is slated to open locations in the DKI Jakarta, South Sumatra, Bengkulu, Banten, West Java, and Lampung Provinces in the next 10...

Read More

Trade Minister to Visits US on Trade War Dispute

Following the United States’ (U.S) threatened on Indonesian export, Trade Minister Enggartiasto Lukita said to visit United States (U.S) on July 21-28, to maintain a trade balance between the two countries. In the limited cabinet meeting on July 10, President Joko Widodo has urged his ministers to revise a number of bilateral trade agreements with partner countries to address trade wars between the U.S and China. The International Monetary Fund (IMF) has warned that a massive trade war could undermine the strengthening of the global economy. Lukita explained this visit is a top anticipative on the current international trade dynamics that sparked a policy of protectionism to increase of import duty tariff. One of the agendas to be discussed by the Minister of Trade is the increase of iron and steel aluminum import tariffs to the U.S and GSP. In addition, Lukita also scheduled to meet U.S Trade Minister to raise the issue of U.S trade deficit from...

Read More

Moody’s Assigns First-time B2 Rating to Sentul City

Moody’s Investors Service has assigned a first-time B2 corporate family rating (CFR) to property developer Sentul City (BKSL). The outlook on the rating is stable. Sentul City’s B2 CFR reflects its ownership of a large and low-cost land bank at its Sentul City township, which is well positioned to benefit from infrastructure developments; thereby supporting the company’s marketing sales growth over the next 12-18 months. The rating outlook is stable, reflecting Moody’s expectation that Sentul City will continue to execute block transactions with strategic investors and roll over its short-term borrowings. Such a situation will support the company’s financial metrics within the threshold of its B2 rating level over the next 12-18...

Read More

Alternative Candidates

Some still believe that a presidential pair outside of the expected pair—to be formed by Prabowo Subianto and President Joko “Jokowi” Widodo—can emerge and beat them in the 2019 race. Names being discussed are Jakarta Governor Anies Baswedan and the former Military (TNI) Commander General (ret) Gatot Nurmantyo. How realistic is such a scenario?

Read More

People on the Move

NasDem became the first political party to submit the list of lawmaker candidates for next year’s legislative election. The party followed other political parties to nominate entertainers, including Nafa Urbach, Tessa Kaunang, and Wanda Hamidah. In West Java alone, the party nominated entertainers like Syahrul Gunawan, Nurul Qomar, Diana Sastra, Krisna Mukti, Lucky Hakim, Olla Ramlan, Farhan, Conny Dio, Della Puspita, and Mandra.

Read More

Steel Update

The growing import of steel has cut the utilization of national steel production to only 50%, below the target of 70-80%. Import of steel grew 32.6% to US$4.68 billion in the first half (H1) of 2018, and contributed 6.24% import of non oil and gas. In 2017 the domestic steel demand reached 13.5 million tons and predicted to grow to 14.5 million tons this year.

Read More

Improved Infrastructure Outlook

After years of waiting, the Depok-Antasari toll road connecting suburban areas and Jakarta Outer Ring Road (JORR) is scheduled for trial operation in the coming weeks. In the meantime, broader support from the community will likely see trial operation of New Yogyakarta International Airport (NYIA) in the second quarter of 2019.

Read More

Law Journal

Physician Bimanesh Sutarjo, who stand trial as suspect in the case of obstruction of justice for allegedly helped Setya Novanto’s legal counsel to fabricate his medical record, was deemed guilty on July 16, 2018. On the same day, the Attorney General HM Prasetyo visited the House of Representatives and gave his statement on the Yayasan Supersemar’s dispute. Separately, last week, the Central Jakarta District Court registered one more lawsuit filed against Luxembourg’s Molucca Holdings S.à.r.l.

Read More
error: Content is protected !!