Ministry of state-owned enterprises proposed capital injection worth Rp27.5 trillion (around US$2 billion) for two strategic state companies in the 2019 State Budget. State EPC firm PT Hutama Karya, assigned to develop trans-Sumatra toll road, is proposed to get Rp12.5 trillion, while state electricity provider PT Perusahaan Listrik Negara (PLN) is set to get Rp15 trillion.
Read MorePhysical construction progress of Jakarta mass rapid transit (MRT) has reached 60.22% by late November 2016. The chance is bigger now to see commercial operation of the modern public transportation in 2018. In this edition: (1) Trans-Sumatra toll road, (2) JORR II toll project.
Read MoreThe long-delayed toll road connecting Tanjung Priok, the largest port in Indonesia, will soon enter commercial operation. This will significantly boost Indonesia’s logistic profile. Some sections of trans-Java toll road project will also enter commercial operation next year and 2018, increasing competitiveness of Indonesian logistics to investors and tourism industry.
Read MoreThe country has been waiting nearly 30 years to connect its largest airport to the city center. Optimism grows this time around with significant progress of land acquisition in the past few months. The country will also see its first light-rail transit (LRT) next year, three months ahead of initial schedule. The first mass-rapid transit (LRT) will follow in 2018 after 30 years of talk.
Read MoreAfter nearly one whole month of the so-called ‘political and national consolidation’, President Joko ‘Jokowi’ Widodo returned to his routine. He is scheduled to campaign the tax amnesty program in Makassar, South Sulawesi province Friday (Nov 25) night. Earlier on Thursday, finance minister Sri Mulyani Indrawati invited lawyers and notaries as part of the nationwide campaign to boost tax ratio.
Read MoreMinistry of public works and housing has completed development planning for Probolinggo-Banyuwangi (156 KM) toll road in East Java. The project will soon entering tender process to select investors. In the meantime, construction of Holtekamp bridge in Youtefa Gulf, Jayapura, Papua, has reached 39.34%, and is set for completion in 2018.
Read MoreCiputra Group reported a profit earning decline for the first half (H1) of 2016. Its main property developer, PT Ciputra Development Tbk (CTRA) posted a 38% profit drop for the period as revenues declined 8.2% and operating profit fell 26.6%. Other expenses jumped by more than tenfold to Rp118.32 billion and financial cost also increased 15% to Rp258.8 billion.
Read MoreThe stock market and the rupiah extended corrections on Wednesday (Sept 14) as investors’ perception over the Fed rate policy continued to weigh on. Rupiah weakened further to Rp13,228 against the U.S. dollar yesterday while the composite index of the Indonesia Stock Exchange (IDX) dropped 1.3% to close at 5,146. Trading value for stocks yesterday reached Rp7 trillion with foreign investors’ net sell amounting Rp841 billion, cutting year-to-date net buy to Rp35.35 trillion.
Read More