Indonesian government to implement zero export levy for palm oil products, if the prices below US$570 a ton, said Ministry of Finance (MoF) on Tuesday (Dec 4). The higher levy set at US$50 a ton if the price above US$690 per...
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The divestment of PT Freeport Indonesia’s 51 percent shares is almost complete. At the moment, the The Ministry of Energy and Mineral Resources (ESDM) is in the process of discussing a definitive mining license (IUPK) with Freeport and PT Indonesia Asahan Aluminium (INALUM).
Read MoreOver a year ago the Corruption Eradication Commission (KPK) announced that they had a new inquisition on a case involving State-Owned Insurance Company PT Asuransi Jasa Indonesia (Jasindo). The case concerns the provision of insurance services for the Upstream Oil and Gas Regulatory Body (BP Migas, now SKK-Migas). The KPK named Jasindo’s former President Director Budi Tjahjono a suspect, but the inquisition was stalled for over a year. The KPK only resume examination in July this year. Budi was immediately detained and his trial began on December 5, 2018.
Read MoreTwo years ago, the Corruption Eradication Commission (KPK) began the inquisition on the case of corruption involving the Directorate General of Horticulture in the Ministry of Agriculture. But the process took longer than predicted. The three suspects were only prosecuted in July 2018. The KPK prosecutors had indicted two suspects in the case and their verdicts were read on December 3, 2018.
Read MoreFinancial Services Authority (OJK) identified 50 multi-finance companies in Indonesia yet to meet the minimum equity of Rp100 billion by October 31st, 2018, Bisnis Indonesia newspaper reported this morning. They have until late 2019 to meet the capital requirement, or else their licenses will be revoked.
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