Author: Yuventius Nicky

Covid Brief: PPKM Extension & Persistent Data Problem

Coordinating Minister of Investment and Maritime Affairs Luhut Binsar Pandjaitan, acting as the commander of Indonesia COVID-19 mitigation work, announced in the evening of Aug. 16, 2021, that the Central Government will continue to use the PPKM Level criteria as a policy instrument for as long as the COVID-19 pandemic remains. The Government will continue to adjust the PPKM policy weekly. The terms and conditions of the restrictions may change accordingly.

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COVID-19 Situation Report: May 12, 2021

Taiwan is widely considered successful in managing the COVID-19 pandemic. But it has recently detected seven locally transmitted cases, six of which have been deemed of untraceable origin. Taiwan’s Government is now considering imposing a tighter movement restriction. 

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COVID-19 Situation Report: May 10, 2021

Minister of Health Budi Gunadi Sadikin told the press earlier today that the Government will push toward one million vaccination per day beginning June. Indonesia, Minister Budi said, has already secured enough supply to support an increased national vaccination pace. It’s a sign of confidence that is very much welcome.

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Banking Update

The Financial Services Authority (OJK) said that banks’ lending or credit grew slightly (moderate growth) in the first quarter (Q1) this year inline with the growing economy. In March, credit grew 8.54% year on year (y/y). Banks under BUKU 1 and BUKU 3 category reported credit growth of 12.23% and 10.33% respectively.

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Regulatory Journal

The Ministry of Transportation can finally implement the Ministerial Regulation (Permenhub) No. 108/2017 on Mobile-Application-Based Transportation Services after the Supreme Court decided not to examine the judicial review petition filed to challenge the regulation. Regional governments must now publish the sub-regulations. Separately, the Ministry of Communication and Informatics told the press that the Ministerial Regulation on Internet-Based Applications and/or Content Providers, better known as the Over-the-top (OTT) regulation will be published by the first quarter of 2018.

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Corporate Actions to Watch

Asia Pacific Fiber (POLY) has proposed to Finance Ministry to support its debt restructuring, so as the Company will resume the operation of its purified terephthalic acid (PTA) plant. This plant stopped operation in 2015 due...

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Economic Update

Indonesia’s Central Bank (Bank Indonesia/BI) on Tuesday (Nov 7) reported lower reserves assets in October 2017, but remain positive with domestic economic conditions, improved export performance, and conducive global financial market development.

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Teluk Bayur’s Oil Spill

As many as 50 tonnes of Palm Fatty Acid Distillate (PFAD) spilled into the Bayur Bay waters in Padang, West Sumatera, on September 28, 2017. The spill was caused by a leak on the oil tank of PT Wira Inno Mas (Musim Mas Group). Some parties have already asked Wira Inno to take responsibility for the potential environmental damage. On October 1, 2017, the Institute for Policy Research and Advocacy (ELSAM) sounded their position in the case through a press release, and on October 2, 2017, the Company, through the Musim Mas Group official website, said that they had cleared the affected area together with the local apparatus and stated that the situation was well under control.

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KPK Investigator Attacked

KPK investigator Novel Baswedan was attacked outside of a mosque earlier today. News outlets reported that Novel was attacked with acid. Novel is known for being in charge plenty of high profile cases, one of which is the E-KTP case, whose two suspects are undergoing trial.

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Fund Raisings

Total funds raised by corporates and the government from capital market reached Rp522.87 trillion year to date (per September 9), compared to Rp472.92 trillion for full year 2015. The bonds issue accounted for Rp475 trillion or 90.84% of total raised funds. While funds raised through equity issues amounted Rp47.87 trillion, consisting of rights issue (Rp43.17 trillion) and IPO (Rp4.33 trillion). The Government will today offer two series of Islamic bonds (sukuk), targeting to raise Rp18 trillion.

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