Indonesia Morning News For May 16

Indonesia sets a cap on how much foreign cash can be carried in
Indonesia next year will impose a ceiling on how much foreign cash an individual can bring into the country, a central bank official said on Monday.
– FMT

Indonesia, China Consortium Sign $4.5b Loan for High Speed Railway Project
A consortium of Indonesian and Chinese companies building Indonesia’s first high speed railway has signed a $4.5 billion loan with China Development Bank, the government said on Monday (15/05).
– Jakarta Globe/ Reuters

OJK suspends online services due to computer virus
The Financial Services Authority (OJK) on Monday temporary closed its internet-based services and called on financial institutions to ensure the security of their IT networks against the WannaCry ransomware.
– The Jakarta Post

China Loans $5B for Indonesia Rail Link
Tom Lembong, chairman of Indonesian Investment Coordinating Board, discusses receiving funding for a high-speed rail link between Jakarta and Bandung under China’s Belt and Road Initiative. He speaks on “Bloomberg Daybreak: Australia.”
– Bloomberg (video)

Mitsubishi Jakarta factory to strive for Ghosn targets
Mitsubishi Motors is reinforcing production centers in Southeast Asia as part of its attempts to recover from last year’s gas mileage data-falsification scandal.
– Nikkei Asian Review

Indonesian exports decline in April: BPS
The value of Indonesian exports dropped by 10.30 percent to US$13.17 billion in April, from $14.67 billion in the previous month, according to the Central Statistics Agency (BPS).
– The Jakarta Post

Multi-Finance Company First Indo American Leasing Looks to Raise $6.6m in June IPO
Indonesian multi-finance company First Indo American Leasing is planning to raise up to Rp 88 billion, or $6.6 million, in an initial public offering next month to beef up its working capital.
– Jakarta Globe

Indonesia: Emtek Group confirms acquisitions of e-money services Espay, DOKU
Indonesian media conglomerate Emtek Group has confirmed the acquisitions of two e-money providers – DOKU and Espay – in its quarterly financial report.
– Deal Street Asia

Bank Indonesia Seen Keeping Key Rate on Hold on Thursday
Indonesia’s central bank is expected to keep its benchmark interest rate unchanged on Thursday (18/05) despite what some analysts call a weak start for economic growth in 2017, a Reuters poll showed.
– Jakarta Globe

GDP Venture in talks to buy shares of Tiket.com
Venture capital firm GDP Venture is currently in talks to acquire 50 per cent stake in Indonesian online travel agent Ticket.com, according to a report by DailySocial.
– Deal Street Asia

Google Kick-Starts Free Digital Training Program to Help Local MSMEs Expand
Google Indonesia kick-started its free digital training and website building program on Monday (15/05) to help micro, small and medium-sized companies in Indonesia expand.
– Jakarta Globe

Coal miners owe the Indonesian government hundreds of millions of dollars
Indonesia is now one of the world’s largest exporters of coal, an industry that contributes around four percent of the country’s gross domestic product mostly through exports to China and India.
– Eco-Business

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Indonesia Morning News For May 16 added by John Le Fevre on May 16, 2017
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John Le Fevre

Thailand editor at AEC News Today

John is an Australian national with more than 40 years experience as a journalist, photographer, videographer, and copy editor.

He has spent extensive periods of time working in Africa and throughout Southeast Asia, with stints in the Middle East, the USA, and England.

He has covered major world events including Operation Desert Shield/ Storm, the 1991 pillage in Zaire, the 1994 Rwanda genocide, the 1999 East Timor independence unrest, the 2004 Asian tsunami, and the 2009, 2010, and 2014 Bangkok political protests.

In 1995 he was a Walkley Award finalist, the highest awards in Australian journalism, for his coverage of the 1995 Zaire (now Democratic Republic of Congo) Ebola outbreak.

Prior to AEC News Today he was the deputy editor and Thailand and Greater Mekong Sub-region editor for The Establishment Post, predecessor of Asean Today.

In the mid-80s and early 90s he owned JLF Promotions, the largest above and below the line marketing and PR firm servicing the high-technology industry in Australia. It was sold in 1995.