The Financial Services Authority (OJK) revealed that Indonesia’s financial condition was well maintained and resilient amid current domestic and global economic volatility. Muliaman D. Hadad, the chairman of OJK, said that as of February 2016 the OJK’s capital adequacy was far above its minimum requirement.
Read MoreThe trial against the President Director of PT Windhu Tunggal Utama Abdul Khoir, who was caught red-handed bribing the member of the House Commission V of the House of Representatives Damayanti Wisnu Putranti of PDI-P, continues. The Corruption Eradication Commission (KPK) recently raided two different locations and have since reportedly started a new investigation. Will there be a new suspect in this case?
Read MorePT Bumi Resources Tbk (BUMI) officially entered their temporary period of Suspension of Debt Payment (PKPU) for the next 45 days. This assurance was obtained on April 25, 2016 after the panel of judges of the Commercial Court on the Central Jakarta District Court granted the PKPU lawsuit filed by one of its creditors Castleford Investment Holdings Ltd. BUMI must begin drafting a peace proposal to restructure its debt.
Read MoreState-owned PT Perusahaan Listrik Negara (PLN) has recently signed agreement with Savills (UK) Limited and NV COGT Singapore Pte Ltd for the development of solar power plants with combined capacity of 150 MWp in eastern provinces. PLN has also signed MoU with Siemens for the development of small mobile power plant with combined capacity of 500 MW, mostly in eastern provinces.
Read MoreMinister of industry Saleh Husin clams stainless steel of PT Sulawesi Mining Investment (SMI) in Morowali Regency, Central Sulawesi will enter commercial production soon. This is part of an integrated US$3.5 billion plus investment from BintangDelapan Group and China partner Dingxin Group.
Read MoreThe Indonesia Investment Coordinating Board (BKPM) reported on Monday (April 25) that in rupiah terms, foreign direct investment (FDI) into Indonesia in the first quarter (Q1) of 2016 grew 17.1% year-on-year (y/y) to Rp96.1 trillion, from Rp82.1 trillion in the corresponding period of 2015.
Read MorePaper manufacturer PT Fajar Surya Wisesa (FASW) Tbk booked net profit of Rp244 billion in the first quarter of 2016 against net loss of Rp107 billion in the corresponding period last year thanks to strong sales revenue growth and improved margins.
Read MoreThe Refinery Development Masterplan Program (RDMP) designed by PT Pertamina Persero is gaining traction. One of the projects in the program is the development of Refinery Unit (RU) V Balikpapan. This project is being conducted by Pertamina itself.
Read MoreAsian stocks were on the defensive on Tuesday after oil prices eased and as investors braced for central bank policy meetings in the United States and Japan later this week, Reuters reported. The composite index of the Indonesia Stock Exchange (IDX) fell 0.73% to close at 4879 Monday (April 25) and the rupiah weakened to Rp13,235 against the US dollar. Foreign investors, however, booked net buy of Rp118.3 billion, bringing their year-to-date net buy to Rp6.46 trillion.
Read MoreMinistry of energy and mineral resources has set US$630 million as value of 10.64% shares of PT Freeport Indonesia, a 63% discount to the price offered by Freeport McMoRan (US$1.7 billion). The government has then asked Freeport to revise down its offer.
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