Indonesia Morning News For June 9

Indonesia Morning News For June 9
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Indonesia morning news

Soekarno – Hatta Airport Train to Miss Initial Launch Target
Transportation Ministry said that the Soekarno – Hatta Airport Train will miss its initial launch target of July this year. The ministry’s Director General of Train Prasetyo Boeditjahjono said he could not confirm when the airport train will operate.

Glove mold manufacturer eyes up to Rp 48 million from IPO
Latex-glove mold manufacturer, PT Mark Dynamics Indonesia, announced on Tuesday its plan to raise between Rp 32 billion (US$2.4 million) and Rp 48 billion from an initial public offering (IPO) that will be slated for the later this year.
— The Jakarta Post

Chinese Ambassador Seeks Support from Kalla over Bullet Train
Chinese Ambassador to Indonesia Xie Feng asked support from Vice President Jusuf Kalla to secure the Jakarta – Bandung bullet Train project.

IDR167 Trillion for Cash Exchanging Service during Idul Fitri Holiday
Indonesian Bank Deputy Governor Sugeng stated that around IDR70 trillion of the new 2016 edition cash would be made available for those who wanted to change their money during Eid by the end of June.
— Netral News

Indonesia bows to outcry, revises tax examination plan
The Indonesian government has decided to revise its plan to examine financial data on the back of major outcry from micro, small and medium enterprises (MSME). The government, through the Tax Office, only requires those with bank accounts with a minimum balance of Rp 1 billion (US$75,148.50) to be subjected to the scheme, higher than the initial plan of Rp 200 million.
— The Jakarta Post

Indonesia’s forex reserves total $124.96 billion in May
Indonesia’s foreign exchange (forex) reserves hit another record high since at least 2015 in May, climbing to US$124.96 billion, data released by Bank Indonesia (BI) on Thursday shows.
— The Jakarta Post

Indonesia works on plastic tar road project to reduce marine debris
Indonesia is mulling to apply India’s plastic recycling breakthrough in the construction sector, the plastic tar road, as part of its voluntary commitments in the United Nations (UN) to reduce marine plastic debris.
— The Jakarta Post

Huibert Vigeveno: Indonesia Forms an Important Market for Shell
Vigeveno said Indonesia is among the most important emerging market economies for Shell as it has a huge population and a rapidly expanding middle class that is increasingly consuming energy.
— Indonesia Investments

International Flights from Bali Spike 5.43 Percent
Ngurah Rai International Airport in Bali saw 2,505 wide-body aircraft flown abroad in April, an increase of 5.43 percent compared to March of 2,376 aircraft.

Budtraco Offers Bogor Monorail
PT Budtraco Utama Sejahtera and Bombardier Canada offer Bogor Monorail project to the Bogor government. Bogor Mayor, Bima Arya, received the proposal from President Director of Budtraco, Budi Sanjaya, in Bogor on Wednesday (7/6/2017).
— Netral News

Textile Chemical Industry Can Grow 5.4% by Year End
The government believes the chemical, textile, and miscellaneous industry (IKTA) sector can grow by 5.4% by the end of 2017, based on the increase of activities in that sector in Indonesia.
— Netral News

Should Indonesian Businesses Venture Overseas?
Indonesia’s large domestic market may have led businesses to focus on domestic market alone, neglecting opportunities in overseas markets.
— Global Indonesian Voices

Freeport ‘on path’ to new Indonesia mine deal this year, CFO says
Freeport-McMoRan Inc, the world’s largest publicly traded copper miner, is “on a path” to get a new mining deal with Indonesia this year for its giant Grasberg mine, Chief Financial Officer Kathleen Quirk said Thursday.
— Reuters

Erajaya eying potential market for drones
Indonesia’s major cell phone retailer PT Erajaya Swasembada aims to tap into the growing domestic demand for aerial photography by distributing the newest version of drones made by China-based producer DJI.
— The Jakarta Post

Billionaire Draper eyes opportunities in Indonesia
Billionaire investor Tim Draper sees opportunities in Indonesia, especially with bitcoin and blockchain technology, as entrepreneurs take advantage of a lack of modern banking infrastructure to build their own.
— The Star Online

Steady progress in Sumatra for Bass
INDONESIAN oil producer Bass Oil says it suffered some minor disruptions to operations in May, mainly due to extensive rainfall, but still managed to produce some 9600 barrels of oil.
— PNG Industry News

Indonesia to increase exports to Nigeria: Minister
The Indonesian government strives to increase its exports to Nigeria to strengthen bilateral economic cooperation, one of them by offering strategic products of PT Dirgantara Indonesia and PT PAL, Foreign Minister Retno Marsudi has said.
— Antara News

Wimboh Elected OJK Chief Commissioner
Wimboh Santoso was elected the Financial Service Authority or OJK chief commissioner yesterday, June 8. At the election held by the House of Representatives (DPR) Commission I, Wimboh win in a landslide over his closest rival Sigit Pramono.

Government urged to revise palm oil bill
Several experts have urged the government to revise the draft of the palm oil bill as they consider it too lenient to companies producing the commodity and fear it could in turn threaten forest sustainability.
— The Jakarta Post

Two SOE Subsidiaries Set to Get Listed on IDX
Indonesia Stock Exchange (IDX), Indonesia’s capital market authority, has signaled that two subsidiaries of a State-Owned Enterprises (SOE) will list its stock on the stock market this year through Initial Public Offering (IPO).
— Netral News

VP reminds businesspeople to pay zakat
Vice President Jusuf Kalla has called on businesspeople to pay zakat fitrah alms, saying that sharing their wealth with the less fortunate is a way to help develop the country.
— The Jakarta Post

UNCTAD Improves Indonesia’s Prospective Investment Destination Rating
Indonesia has improved to fourth place as a prospective investment destination for 2017-2019, based on a survey by United Nations Conference on Trade and Development (UNCTAD).
— Netral News

Actions Required on Tobacco Import Control in Indonesia
Indonesias Trade Ministry has planned to issue a regulation for tobacco import trading control, with one key point requiring importers to absorb domestic tobacco.
— The Jakarta Post


Feature photo Asian Development Bank
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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