One can’t talk about the fitness center business without talking about fitness equipment, without which there wouldn’t be any fitness center. There are hundreds of type of fitness equipment, but the one that recently became a favorite among gym-goers in Jakarta is the ViPR, an acronym for vitality, performance and reconditioning. On Friday (April 10), we managed to speak to Michol Dalcourt, the inventor of ViPR.
Read MoreConsumer financing companies posted significant drop in their net profit last year due to higher cost of finance and increasing provision for impairment losses. These companies, however, are suspected of telling nicer stories to public…
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Discussions surrounding amendment of oil and gas law between the government and House Commission VII (overseeing energy and mining affairs) have geared up with more ‘nationalistic flavours’. On top of an automatic transfer of expired oil and gas blocks to state oil and gas company Pertamina, contract holders (PSCs) will be required to give more…
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Megawati Soekarnoputri has been re-elected as chairwoman of the Indonesian Democratic Party of Struggle (PDI-P) for the 2015-2020 period at the Party’s National Congress. This is Megawati’s fourth consecutive reign, that’s over 20 years of leadership. She has come up with a new line-up for PDI-P’s central executive board (DPP). But there is very little change to past composition.
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On March 24, 2015, not long after the Constitutional Court decided to revoke the Law No. 7/2004 on Water Resources, the panel of judges of the Central Jakarta District Court voted in favor of the petition filed by the Coalition Against Water Privatisation in Jakarta.
Read MoreThe Constitutional Court through decision No. 85/PUU-XI/2013 granted the Judicial Review on Law No. 7/2004 on Water Resources. The PP Muhammadiyah, the central leadership of the second largest Islamic organization in Indonesia, is one of the eleven judicial review applicants. Of the eleven application, MK declined the request of Applicant III, namely the Solidarity of Parking Attendants, Street Vendors, Employers, and Employees (SOJUPEK).
Read MoreLife insurance company PT. Asuransi Jiwa Bumi Asih Jaya (AJBAJ) has filed for debt restructuring or Suspension of Debts Payment (Penundaan Kewajiban Pembayaran Utang – PKPU). The request was filed in response to other lawsuit filed by the Financial Services Authority (Otoritas Jasa Keuangan – OJK), which aims to legalize the bankruptcy of AJBAJ. The OJK, acting on behalf of the customers of AJBAJ, seeks to bankrupt the life insurance company in relation to its Rp80.5 billion debt.
Read MoreThe Bank Indonesia Regulation (Peraturan Bank Indonesia – PBI) No. 17/3/PBI/2015 on Mandatory Rupiah Transaction in the Territory of the Republic of Indonesia is a follow-up to the Law on Bank Indonesia (BI) and the obligation to use the Rupiah as stipulated in Law No. 7/2011 on Currency. The mandatory Rupiah policy applies to both cash and noncash transactions. The new policy also requires prices of goods and services in Indonesia to be specified only in Rupiah.
Read MoreThe composite index of the Indonesia Stock Exchange (IDX) ended down 0.17% at 5491 on Friday (April 10), but closed off its low due to late buying. Foreign investors booked net sell of Rp74.9 billion, cutting year to date net buy to total Rp6.92 trillion.
Read MoreShares of Bumi Resources Minerals (BRMS), subsidiary of Bumi Resources (BUMI) and holder of indirect 18% shares in PT Newmont Nusa Tenggara (NNT), surged 14.38% with 215 million shares exchanged hands Friday (Apr 10) even though it posted net loss of US$89.3 million last year.
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