The Nikkei Indonesia Manufacturing PMI edged down to a three-month low of 50.5 in October 2018 from 50.7 in September. Output continued to expand amid declines in both new orders and export sales. Meantime, employment grew...
Read MoreIndonesia’s annual consumer price inflation increased to 3.16% in October of 2018 from an over-two year low of 2.88% in the previous month. Prices rose faster for: housing & utilities (2.35% vs 2.11% in September);...
Read MoreSaudi Arabia’s Saudi Aramco is finally ready to partner up with state-owned PT Pertamina to develop the Cilacap Refinery in Central Java. Saudi had intended to cooperate since 2014, but the business agreement it was supposed to reach with the agreement progressed very slowly. That’s mostly because Saudi Aramco didn’t only seek for a tax holiday, but they also wanted the option for a spin-off.
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IndonesiaLeaks recently published their report on the obstruction of justice supposedly committed by two of the former investigators of the Corruption Eradication Commission (KPK) in the first week of October 2018. The parties mentioned in the report, including the Chief of the National Polce General (Pol) Tito Karnavian, had dismissed the allegations. The Police followed up with an investigation of their own into IndonesiaLeaks’ allegations. What’s interesting is that the police chose not to investigate internally. So what are they investigating?
Read MorePT Internux, the operator of BOLT, was able to come up with an agreement with their creditors over their period of temporary Suspension of Debts Payment (PKPU). On October 30, 2018, the majority of Internux’s creditors agreed to resolve the dispute, but we need to note that majority of their creditors are companies with affiliation to the debtor (and Lippo group). The process is also far from peaceful because one particular creditor decided to step away from the PKPU process and will resolve their dispute with other legal means.
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