Indonesia Morning News For September 21

Overlapping Regulations Hamper Economy, Jokowi Says
The government initiated deregulations by issuing economic packages or scrapping regional regulations. There are currently 3,140 regional regulations that have been revoked because they had hampered the economy.
— Tempo (EN)

Indonesia Struggles with Widening Wealth Gap
Southeast Asia’s biggest economy has made major strides since the Asian currency crisis, but a World Bank report warns this growth is coming at a cost – an ever-widening gap between rich and poor.
— NHK World

Indonesia Crosses the Nine-Dash Line
President Joko Widodo has made maritime issues central to Indonesia’s foreign policy, building up its navy, arresting and dynamiting dozens of foreign ships caught fishing illegally, and taking a quiet but firm stand on sea rights.
— Asia Sentinel

Indonesia issues new rules to trace, tax assets
The regulation calls for all assets not reported or were misreported in the amnesty programme – and which were obtained between Jan 1, 1985, and Dec 31, 2015 – to be treated as untaxed income.
— The New Paper

Indonesia, Australia reduce tariffs on key commodities
Indonesia will reduce tariffs on the import of Australian raw sugar, and Australia will eliminate import duties on Indonesian herbicides and pesticides
— Antara

Trade ministers set November deadline for Indonesia-Australia trade deal
The Australian and Indonesian trade ministers have announced they have set a November deadline to complete a bilateral trade deal.
— ABC

Startup investment grows 60 times in five years: Research
Investment in startup firms has grown 60 times in Indonesia within the last five years, according to a research conducted by Google and AT Kearney.
— The Jakarta Post

East Ventures launches $30m fund for Indonesian startups
Singapore-based venture capital company East Ventures on Thursday said it will launch a $30 million fund to invest in early-stage technology startups in Indonesia.
— Nikkei Asian Review

Uber reviews Asia business amid U.S. bribery probe: source
Uber has started a review of its Asia operations and notified U.S. authorities about payments made by staff to police officers in Indonesia.
— Reuters

Govt picks Inalum to buy Freeport’s shares
State-Owned Enterprises Minister Rini Soemarno said on Wednesday that the government selected state-owned aluminum firm PT Indonesia Asahan Alumnium (Inalum) to acquire 51 percent of shares in gold and copper miner PT Freeport Indonesia.
— The Jakarta Post

Indonesia’s Startup Landscape Still in Infancy, but Investment Value Growing Rapidly: Report
The report suggests that venture capital remains extremely bullish on Southeast Asia’s largest economy, and sees investment opportunities, given the country’s steady growth, emerging middle class and massive population of digitally savvy young people.
— Jakarta Globe

Indonesia’s PLN lists power plant-backed securities
Utility firm Perusahaan Listrik Negara raised 4 trillion rupiah ($300 million) in fresh funds from Wednesday’s listing of its first asset-backed securities — the second such issuance by an Indonesian state-owned company for infrastructure financing.
— Nikkei Asian Review

Datasonic to expand smart card business to Indonesia
Datasonic Group Bhd, which produces identity cards and passports in Malaysia, is expanding its smart card business to Indonesia.
— The Edge Markets

INTERACTIVE: Indonesia’s Chandra Asri raises capital for expansion
Chandra Asri has raised Indonesian rupiah (Rp) 5,030bn ($378m) via a recently completed rights issue, to fund its ongoing capacity expansion project in Cilegon, a company source said on Wednesday.
— ICIS

Keppel Land acquires $45m land plot from Indonesia’s BCA
Property developer Keppel Land is buying a prime piece of land in Jakarta’s central business district from Indonesia’s Bank Central Asia for 586 billion rupiah (S$60 million or $44.5 million).
— Deal Street Asia

ADB approves loans of up to $1.1bn for Indonesia’s energy sector
The Asian Development Bank’s (ADB) Board of Directors today approved two loans totaling up to $1.1 billion to strengthen and diversify Indonesia’s energy sector — considered key to promoting inclusive growth and sustainable development in the country, as announced by the bank.
— Think GeoEnergy

Mandiri Issues 9.61mn e-Money Cards
The bank’s average monthly e-money transaction amounts to more than 36.8 million with a value of Rp424.4 billion per month.
— Tempo (EN)

Mitsui enters Indonesian dairy market to milk growing demand
Mitsui & Co. is getting into the dairy business in Indonesia, where demand for such products is rising along with incomes, through local food producer ABC Group.
— Nikkei Asian Review

Interdye Asia 2017 to Take Place in Bandung, Indonesia
Exhibits will include a variety of advanced environmentally-friendly dyestuffs, organic pigments, catalysts, intermediates, in addition to environmental impact assessment equipment and printing and dyeing automation technologies and materials.
— Asia One

West Papua: Five facts about Indonesia’s ‘dark, dirty secret’
The Indonesian President, Joko “Jokowi” Widodo, is desperate to keep hidden Indonesia’s dark, dirty secret – its brutal 50-year war in its easternmost provinces.
— Asia Pacific Report

Indonesia: Daesh terrorist to serve 11 years in prison
Nur Solihin, his wife and another conspirator were planning to attack presidential palace in capital Jakarta last year
— Anadolu Agency

Indonesia protests underline threat to free speech
Debates on country’s violent history disrupted by ‘anti-Communist’ demonstrators.
— Financial Times

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