Indonesia Morning News For August 29

Indonesia Still Haunted by Asian Financial Crisis Ghosts
The Asian financial crisis triggered the collapse of political and economic institutions that had delivered remarkable growth for 30 years. Rebuilding these institutions and a sound economic framework — albeit redesigned for a middle-income democracy — remains a challenge today.
— AEC News Today

Newest Navy Submarine from Korea Arrives in Surabaya
In accordance with the Navy’s strategic plan, Indonesia will be equipped with a total of 12 submarines to strengthen its navy fleet.
— Tempo (EN)

Thousands of ATMs go down in Indonesia after satellite problems
Around 15,000 ground sites across Indonesia were affected by the problem on the ’Telkom-1’ satellite, whose service is used by government agencies, banks, broadcasters and other corporations
— Reuters

PT Telkom Indonesia Claims to Have Solved Satellite Disruption Issue
Telkom Indonesia said it has solved the problem with Telkom 1 satellite interference.
— Netral News

Indonesia to build Batam as a digital industrial park
The government considered that Batam has a good potential as the city is located near Singapore and Malaysia that have high demand for digital industry.
— Antara

Clove Production Indonesia Plunges, but Price Remains Stable
Not only looming higher excise taxes plague Indonesia’s clove farmers but also bad weather is drastically curbing clove production in 2017.
— Indonesia Investments

AU fruit group hopes to boost exports to Indonesia with study tour
The group is hoping the tour will lead to seasonal sales of up to 15 tonnes of soft fruit such as raspberries and blackberries along with 20 tonnes of cherries, and more than 100 tonnes of blueberries in the next three years.
— Fresh Plaza

Vans to reopen stores in Indonesia
The former Indonesian distributor of Vans, PT. Gagan Indonesia, had filed for bankruptcy in early June at the Central Jakarta Commercial Court after failing to negotiate with its creditors under the debt postponement petition (PKPU).
— The Jakarta Post

Geo Energy Resources to invest in online e-commerce portal in Indonesia
The move marks the group’s first foray into non-coal related business since its establishment in 2008.
— Business Times

Bakrie Darmakarya starts exploration at East Java geothermal project, Indonesia
The company plans to drill three geothermal wells, and a “target of each well being capable of generating 55 megawatts of electrical energy.
— ThinkGeoEnergy

Indonesia’s APP denies plan to buy Eldorado Brasil
Indonesia’s Asia Pulp & Paper Co (APP) and its parent Sinar Mas Group denied they were planning to buy pulpmaker Eldorado Brasil Celulose SA, which is up for sale after its controlling shareholders got ensnared in Brazil’s worst corruption probe.
— Reuters

Kasikornbank takes 10% stake in Bank Maspion Indonesia
Thailand’s fourth-largest bank by assets, said Monday that it will buy a 9.99% stake in Bank Maspion Indonesia, the listed banking arm of midsize Indonesian conglomerate Maspion Group for $20 million.
— Nikkei Asian Review

CCM Duopharma eyes Indonesian M&A targets
CCM Duopharma Biotech Bhd has identified two potential merger and acquisition (M&A) targets in Indonesia as it seeks to expand its presence in the world’s most populous Muslim nation.
— The Edge Markets

Indonesia expects to become self-sufficient in salt in 2019
Indonesia, which has suffered from declining salt production in recent months, is set to become self-sufficient in the commodity by 2019 as a government team has begun the process of transforming idle land into salt fields.
— The Jakarta Post

Indonesia expects higher growth of digital industry in 2019
Minister of Industry Airlangga Hartarto said on Monday that the digital industry or e-commerce industry is estimated to grow by 10 times in 2019 from 1 percent to 2 percent expansion target of this year.
— Xinhua

Interference of Indonesian Cigarette Industry is Highest in ASEAN
One example of cigarette industry’s interference was when the Finance Ministry gave awards to four Indonesian cigarette companies on July 27, 2016, for providing the largest tax revenue.
— Tempo (EN)

Tobacco lobby retains tight grip on Indonesia: Study
The Indonesian tobacco lobby is still the most powerful in Southeast Asia, a recent study has concluded, reflecting the difficulty faced by campaigners against the damage smoking does to health in the world’s second-largest cigarette market.
— The Jakarta Post

Social Media Week Jakarta Announces Its 2017 Event
Social Media Week Jakarta 2017 will unravel the future of communication, delve in how technology plays a role in the evolution of communication, and probe on the interaction between machine and human.
— Business Insider

2018 inflation may be below 3.5%: Bank Indonesia
The low inflation rate assumption will happen if the government does not increase several administered prices, including subsidized fuel prices, electricity rates and natural gas prices in 2018.
— The Jakarta Post

Creative Bandung
Known for exquisite Dutch colonial architecture and many other tourist-friendly features, Bandung is also home to a large number of local startups
— Bangkok Post

Feature photo ILO in Asia and the Pacific
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Indonesia morning news by AEC News Today is your one stop source for Indonesia news on matters of governance and policies affecting Asean business communities and is published M-F by AEC News Today: Governance, not government; policies not politics.