Tag: OJK
M&A: Freeport, Muamalat, Asuransi Adira
The Indonesian Government, through Ministry of Energy & Minerals Resources (ESDM) has finally signed the sales and purchase agreement (SPA) for a complex US$3.85 billion share purchase deal involving Freeport McMoRan, Rio Tinto and state-owned miner PT Indonesia Asahan Aluminium (Inalum). This is a follow up of the head of agreement (HoA) signed by Government and Freeport-McMoRan Inc (FCX) on August 12, 2018. The ownership divestment of Grasberg is one of the steps Freeport must take as it transfers rights to the mine from its current operating contract to special mining rights.
Read MoreImproved Banking Sector
The Financial Services Authority (OJK) reported on Thursday (Sept 20) that the banking industry booked a net profit of Rp83.69 trillion in July 2018. It grew 8.36% year on year (y/y), higher than 7.95% growth in the previous month.
Read MoreRegulation on Digital Financial Innovation in the Financial Services Sector
The Financial Service Authority (OJK) recently published the promised regulation on the financial technology sector. The regulation was signed on August 15, 2018 as Regulation of OJK (POJK) No. 13/POJK.02/2018.
Read MoreFinancial 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.
Read MoreCorporate Actions
United Tractors (UNTR), subsidiary of Astra International (ASII) engaged in construction machinery, mining contracting, coal mining, and EPC business, said PT Danusa Tambang Nusantara (Danusa) owned by UNTR and Pamapersada (UNTR’s subsidiary), acquired Martabe gold mine in North Sumatra from Agincourt Resources Pte. Ltd.
Read MoreFintech & Industry Policies
The Financial Services Authority (OJK) will release a new regulation on financial technology (fintech), before mid August this year, as the umbrella for all fintech business practices in the country. Triyono, OJK official, told reporters on Sunday (July 15) that the OJK had not ruled yet on some fintech business models.
Read MoreIPO & Equity Crowdfunding
The Financial Services Authority (OJK) is now working on new rules for equity crowdfunding, where a large number of people invest in unlisted companies, usually through internet platforms. OJK had completed a draft regulation and was currently seeking input from the financial industry and other stakeholders.
Read MoreRates and Oil
Indonesia’s central bank (Bank Indonesia/BI) said it is consistently committed to and focuses on a short-term policy on strengthening economic stability, primarily the stability of Rupiah exchange rate. So the BI is ready to adopt further policies that are pre-emptive, front loading, and ahead of the curve in facing any new direction of the Fed’s and ECB’s policies in the upcoming Board of Governors Meeting in June 27-28, 2018.
Read MoreMerger of JPRS-GDST
Investors were focused on buying the shares of steel producers, Jaya Pari Steel (JPRS) and Gunawan Dianjaya Steel (GDST) this morning following the announcement of the merger of both companies. At 10.21 a.m. Jakarta time, JPRS gained 34.69% to Rp198 per share and GDST gained 34.96% to Rp147. JPRS traded flat at Rp135 during January to early April this year, and started gaining since April. Buying appetite of investors is better for GDST as the stock makes consistent gain this year.
Read MoreBanking Update
Largest private lender Bank Central Asia (BBCA) plans to raise as much as US$36.5 million via the sale of subordinated notes, which are aimed at fulfilling the requirement set on the regulation of systematic important banks for a financial systems recovery plan.
Read MoreBanking 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.
Read MoreUpdate on Lending
Consumer credit has been the driver for credit growth in Indonesia’s banking sector in the first two months of 2018. Credit to multipurpose and motor vehicle segments show good growth. Based on data from the central bank (Bank Indonesia/BI) consumer credit grew 11.1% year-on-year (y/y) to Rp1,392.4 trillion in February 2018, accelerating from a 10.4% (y/y) growth pace in the preceding month.
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