Indonesia Morning News For July 10

Indonesia Morning News For July 10
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Indonesia morning news

Marketplace for used automobiles Droom to invest upto $10m in acquisitions, plans Indonesia expansion
After closing its $20 million Series C round of funding last week, Droom, an online marketplace for used automobiles, plans to announce a few acquisitions by the end of this year, founder Sandeep Aggarwal said in an interaction with DEALSTREETASIA.
— Deal Street Asia

Stop crackdown on illegal migrant workers: Indonesia
Indonesia will ask Malaysia to stop its crackdown on illegal migrant workers and extend its rehiring programme.
— The Sun Daily

DBS Indonesia’s net profit surges 75% in Q1
PT Bank DBS Indonesia, a subsidiary of Singapore-based DBS Bank, has reported a 75 percent year-on-year (yoy) increase in its net profit during the first quarter of 2017 to Rp 263 billion.
— The Jakarta Post

Indonesia, Turkey Agree Rp6.9tn Investment
Indonesia and Turkey agreed US$520 million or Rp6.9 trillion investments last week, the Investment Coordinating Board chairman Thomas Lembong said. The agreement includes cooperation in the field of energy and air transport, according to Thomas. “State-owned PT Perkapalan Indonesia has agreed US$320 million deal with Karadeniz Holding,” Thomas said last week.

Exclusive: Orami in talks to raise over $5m in Series B+, existing investors may join
Southeast Asia based e-commerce platform Orami, earlier called MoxyBlina, is in talks to raise another $5-7 million to fuel its growth plans until July 2018, two people aware of the development told this portal.
— Deal Street Asia

Indonesia Second Largest Food Waster
According to the Economist Intelligence Unit, Indonesia is the world’s second largest food waster, squandering nearly 300 kilograms of food per person each year.
— Jakarta Globe

Indonesia: Local VCs deployed $463.5m in first quarter, says OJK report
Indonesia’s conventional VC firms deployed Rp 6.22 trillion ($463.5 million) in the first three months of this year, down 23.6 per cent from the previous quarter, according to a report by Indonesian authorities. Financing by revenue sharing remained the largest at Rp 4.56 trillion ($339.8 million) or 73.5 per cent of the total value.
— Deal Street Asia

Indonesia courts pension funds with securitization
Indonesian state firms are courting foreign pension funds by offering a share in future revenue from toll roads, power stations and other infrastructure projects, as part of a presidential drive to secure US$10 billion in additional inflows.
— Taipei Times

Indonesia to Expand Naval Presence near Mindanao
In his paper titled “Indonesia to Expand Naval Presence near Mindanao” Jarryd de Haan, Research Analyst, Indian Ocean Research Programme, writes that the decision to build a new naval base on Morotai Island is part of a wider strategy to extend the Indonesian military’s influence to the country’s outer islands.
— Future Directions International (press release)

Indonesia, Australia Commit to Finalizing CEPA in 2017
President Joko “Jokowi” Widodo and Australian Prime Minister Malcolm Turnbull, during their meeting on the sidelines of the Group of 20 Summit in Hamburg, Germany, on Friday (07/07), made a commitment to finalize negotiations on the Indonesia-Australia Comprehensive Economic Partnership Agreement, or CEPA, in 2017.
— Jakarta Globe

Jakarta Administration to Repair Dilapidated Houses Throughout City
Jakarta Governor Djarot Saiful Hidayat said on Friday (07/07) that the city administration will renovate as many as 21,000 dilapidated houses throughout the capital in coming weeks.
— Jakarta Globe

Indonesia Bourse Poised To Rebound On Monday
The Indonesia stock market headed south again on Friday, one session after it had ended the two-day slide in which it had fallen more than 85 points or 1.3 percent. The Jakarta Composite Index now rests just beneath the 5,815-point plateau although it is expected to bounce higher again on Monday.
— Nasdaq

Bank Indonesia Issues National Payment Gateway Regulation
The central bank published a new national payment gateway regulation on Thursday (06/07) in a bid to provide an efficient and secure payment system for banking customers in the country.
— Jakarta Globe

Pak-Indonesia ties to be strengthened
Indonesian Ambassador to Pakistan Iwan Suyudie Amri said on Sunday that Indonesia and Pakistan were enjoying deep rooted economic, social and diplomatic relations which would be strengthened further in days to come. Addressing a ceremony here at the Mango Festival, he said, “We have PTA with Pakistan, and hoped that mango will be included in PTA in the next meeting to be held in August next”.
— The Nation

Indonesia’s foreign reserves decline to $123.09 billion in June
Indonesia’s foreign exchange reserves declined in June by US$1.86 billion compared to in the previous month because of higher liquidity demand in the domestic banking market, according to the central bank.
— The Jakarta Post

Jokowi Calls for Support of Netherlands over Exports of Indonesian CPO in Europe
President Joko Widodo met several state leaders on the sidelines of the G20 Summit including Dutch Prime Minister Mark Rutte, US President Donald Trump, Norwegian Prime Minister Erna Solberg, and South Korean President Moon Jae-in.
— Netralnews

Aberdeen Indonesia Fund Inc (IF) Price Above The Cloud: Shows Positive Momentum
Aberdeen Indonesia Fund Inc (IF) shares opened the last session at $7.45, touching a high of $7.46 and a low of $7.45 , yielding a change of -0.02. The latest reading places the stock above the Ichimoku cloud which indicates positive momentum and a potential buy signal.
— Financial Newsweek

RI scores coup at G20
Indonesia scored a major coup in the two-day G20 summit in Hamburg, Germany, with the adoption of a strong statement by leaders of the world’s 20 largest economies on the need to thwart terrorism and stop the flow of funds to militant groups.
— The Jakarta Post


Feature photo Gunawan Kartapranata

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.



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Stella-maris Ewudolu

Journalist at AEC News Today

Stella-maris graduated with a Bachelor of Arts, Education from Ebonyi State University, Nigeria in 2005.

Between November 2010 and February 2012 she was a staff writer at Daylight Online, Nigeria writing on health, fashion, and relationships. From 2010 – 2017 she worked as a freelance screen writer for ‘Nollywood’, Nigeria.

She joined AEC News Today in December 2016.

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