Coinciding with his first anniversary in office, the President issued the Presidential Regulation (Perpres) No. 115/2015 on the Task Force of Eradication of Illegal Fishing (Satgas Illegal Fishing). This new Perpress grants extraordinary powers to the Ministry of Marine and Fisheries (KKP) though question remains on whether or not it is the right move.
Read MorePT XL Axiata Tbk (EXCL) has on Tuesday (October 27) paid unhedged US$100 million debt to Royal Bank of Scotland (RBS), a payment acceleration, along with Rp1.5 trillion loan facility provided by Bank Sumitomo Mitsui Indonesia.
Read MoreThe investigation into the case of alleged slavery and human trafficking conducted by PT Pusaka Benjina Resources has entered a new stage. The Benjina case file has reportedly been finalized by the Aru Islands Police and have been delegated to the Maluku High Prosecutor (Kejati Maluku).
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After previously entrusting the Company with the organization of the President Cup, the Government of Indonesia has entrusted the management of the Military Commander Cup—which has now been renamed to the Sudirman Cup—to the Mahaka Sports & Entertainment, a subsidiary of the the Mahaka Group controlled by Boy Garibaldi Thohir, a shareholder of Adaro Energy (ADRO). Is this a sign that the Thohirs and their Mahaka Group will replace the Bakrie Group in dominating the country’s football league?
Read MoreThe process of selecting the new leaders of the KPK at the House of Representatives (DPR) has reached an impasse. The DPR has not yet decided on when they would conduct the fit and proper test on the commissioner candidates that President Joko “Jokowi” Widodo had proposed. With only four days left before the DPR enters their fifth recess period, it seem clear that the selection process will suffer a delay.
Read MoreThe government is set to conclude the 2016 budget draft by October 30, 2015 valuing for more than Rp2000 trillion. The economic growth for 2016 is set at 5.3%, inflation 4.7%, rupiah currency Rp13,900 per dollar, interest rate (for 3 months period) 5.5% and oil production is set at 830,000 barrels per day, while gas production is set for 1.15 million barrels oil equivalent.
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State-owned oil and gas company Pertamina ‘proudly’ announced the signing of US$13 billion deal with Corpus Christi LNG, subsidiary of US Cheniere Energy Inc, during the visit of President Joko ‘Jokowi’ Widodo to the United States. We call it a big irony because the State company should travel that far to support the development of project in Houston, Texas, while domestic potentials are left untouched by policymakers.
Read MorePT Semen Baturaja (SMBR) Tbk, the smallest listed cement producer, booked net profit of Rp265 billion in nine months of 2015, grew 19.7% from the corresponding period of 2014. The Company continued posting strong sales growth in the third quarter, but net profit was flat compared to the same period of 2014.
Read MoreLast week, we wrote an article about the growth of internet television with video streaming service. Today, we are going to talk about Nonton.com of PT Media Baru Digital, the Company behind the online portal that offers video streaming service. On Saturday (Oct. 24), we spoke to Nucky Djatmiko, the CEO of the Company.
Read MoreBank Danamon (BDMN) booked net profit after tax of Rp1.9 trillion in the first nine months of 2015, declined 9.5% compared to Rp2.1 trillion profit in the corresponding period of 2014, due to higher operating cost and lower net interest income.
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