Indonesia Morning News For November 2

Indonesia Morning News For November 2
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Indonesia morning newsIndonesia continues strong pace of reforms to improve business climate
Indonesia continued a strong pace of reforms to improve its investment climate, says the World Bank Group’s latest Doing Business 2018: Reforming to Create Jobs report.
— The Financial

Jakarta sets 2018 minimum wage at Rp 3.6 million
The city administration reached a decision on Wednesday to set the provincial minimum wage at Rp 3.6 million (US$265).
— The Jakarta Post

Unilever Indonesia records 3.69 percent growth in revenue
Fast moving consumer goods firm PT Unilever Indonesia booked Rp 31.21 trillion (US$2.3 billion) in revenue in the period from January to September.
— The Jakarta Post

Indonesia’s October Inflation Rate Eases to 3.58%
Indonesia’s annual inflation rate eased for a fourth straight month in October, reaching its lowest level since January, as price increases of some foods continued to slow.
— Jakarta Globe

Govt denies Kenyan seamen detained in Indonesia
The Kenya Maritime Authority (KMA) has disputed claims that five stranded seafarers who have been in Asia for the last two years were detained at the port of Jakarta.
— Business Daily

Indonesia fintech Pendanaan raises Series A from Chinese VC Legend Capital
Legend Capital, a subsidiary of Chinese investment firm Legend Holdings, has led a series A financing round worth “millions of US dollars” in Indonesian fintech startup, China Money Network reported.
— DealStreetAsia

Sluggish consumption drags down Indonesian food companies
The top three Indonesian food producers reported lackluster earnings for the first nine months of the year, which some company executives have blamed on a “challenging” economic situation.
— Nikkei Asian Review

Tanjung Priok to serve as model for port efficiency
Indonesias Transportation Minister Budi Karya Sumadi said that Tanjung Priok port could serve as a model for the countrys efficiency in port management.
— Antara

Jokowi inaugurates shrimp ponds to boost local economy
President Joko Widodo (Jokowi) has inaugurated the construction of 17 hectares of shrimp ponds in Muaragembong Sub-district, Bekasi District of West Java, to boost local economy.
— Antara

MHPS Ships Two Gas Turbines for 880 MW Class Indonesian GTCC Power Generation System
Mitsubishi Hitachi Power Systems, Ltd. (MHPS) has shipped the second M701F gas turbines ordered by PT.PLN(Persero), Indonesia’s state owned electricity company.
— Asia One

Exploring Cooperation Opportunities, Russian Delegation Visits Smesco Indonesia
Russian business delegation, the Leader Club and the Russian Business for Strategy Initiative, made a visit to SMEs and Cooperatives (Smesco) building, to explore opportunities and trade cooperation.
— Netral News

BPS Records Red Chili, Rice Affect October 2017 Inflation Hike
Head of the Central Statistics Agency (BPS) Suhariyanto said the price of red chili and rice becomes the cause of inflation in this period.
— Netral News

Q3 Income Stagnating, Matahari Admits Declining Purchasing Power
Until the end of third quarter of 2017, PT Matahari Department Store Tbk (LPPF) recorded gross sales of IDR13.2 trillion, relatively the same as the same period last year. The Company also managed to provide a stable net income of IDR7.5 trillion.
— Netral News

New Ride-Hailing Rules Contradict Supreme Court Verdict: Activists
The government’s new regulation on car-hailing services, which becomes effective on Wednesday (01/11), poses legal problems, activists say.
— Jakarta Globe

Debutant MCAS Leads Top Gainers on Wednesday’s Trade Closing
In its debut on the Indonesia Stock Exchange (IDX), the stock of M Cash Integrasi Indonesia (MCAS.JK) has obtained significant price hike. The stock has also become one of the top gainers in the trade closing on Wednesday (11/01/2017).
— Netral News

Novoflex Launches Industry-Disrupting Process for Assembling SIM Cards
Singapore-based smart card innovater NovoFlex has announced today (11/01/2017) the Secure Authentic Identification Laminates (sAiL)™, a patented, groundbreaking new process that redefines how integrated circuit (IC) chips will be embedded into SIM cards currently used in the telecommunications sector.
— Netral News

BCA Supports Improvements of Indonesian National Army’s Facilities, Infrastructure
PT Bank Central Asia Tbk (BCA) appreciates the contribution of the Indonesian National Army (TNI) as the army of the people, the army of fighters, the national army and the professional army in closing pluralism and maintaining diversity, and bringing peace and security in the community.
— Netral News

Indonesia buys Norway’s NASAMS air defence system
Indonesia has signed a contract worth 77 million U.S. dollars to buy a medium-range air defence system from Norway’s Kongsberg Gruppen ASA, the company said on Tuesday.
— Xinhua

Indonesia minister warns of religious divisions
Indonesia must be “vigilant” about the dangers of identity politics as the proliferation of social media exacerbates resurgent racial and religious tensions ahead of a series of key elections, the country’s finance minister has warned.
— Financial Times

Sumitomo Forestry partners on housing in Indonesia
Sumitomo Forestry will market single-family homes in Indonesia, as the Japanese housing and wood products company branches out to Southeast Asia’s rising middle class.
— Nikkei Asian Review

Indonesia stocks higher at close of trade; IDX Composite Index up 0.54%
The best performers of the session on the were Lionmesh Prima Tbk (JK:), which rose 24.60% or 155 points to trade at 785 at the close. Meanwhile, Renuka Coalindo Tbk (JK:) added 24.40% or 102 points to end at 520 and Tunas Alfin Tbk (JK:) was up 13.07% or 46 points to 398 in late trade.
— Newsline

Social forestry program to improve farmers` welfare: Jokowi
President Joko Widodo (Jokowi) said that the social forestry program is aimed at improving the welfare of farmers.
— Antara

OJK’s Views on Capital Market’s Performance This Year
During the year, domestic capital market performance is predicted to be a relatively low level of volatility.
— Netral News

Minister asks youth to build the country
Speaking before participants of the 89th Youth Pledge Day ceremony and the South Papua Corridor NKRI Expedition 2017, the Coordinating Minister for Human Development and Culture Puan Maharani stated that Indonesian youth are entering an era full of challenges, a highly competitive economy and pressure from global cultures.
— The Jakarta Post

BI revises down credit growth target for 2017
Bank Indonesia (BI) has revised down its target of credit growth for 2017 to 7-9 percent from previously at 8 to 10 percent.
— Antara

House Reminds Rupiah Exchange Rate Plunges to Worst after 2018 State Budget Approval
The House of Representatives said that the government should be careful with the condition of the rupiah exchange rate recently.
— Netral News

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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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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