Indonesia Morning News For May 8

Indonesia’s Presidential Election May Only Have One Candidate
Indonesian President Joko Widodo may find himself without a challenger in the next election.
— BloombergQuint

Australia’s Crown Group Announces First, $500m Project in Indonesia
The Crown Group, a Sydney-based property developer, has joined forces with Pembangunan Jaya Ancol, a public company controlled by the Jakarta provincial government, to develop a Rp 7 trillion ($500 million) waterfront apartment complex in North Jakarta.
— Jakarta Globe

China ready to import 2 million tons of palm oil from Indonesia
China is ready to import 2 million tons of palm oil from Indonesia as part of efforts to increase trade relations between the two countries, Chinese Prime Minister Li Keqiang said.
— Antara News

Indonesian state lender BRI to raise holding in VC firm, to deploy $50m
Indonesian state-owned lender Bank Rakyat Indonesia (BRI) is planning to raise its stake in venture capital firm Bahana Artha Ventura to a majority control of around 65 percent, as part of its plan to roll out its own VC arm, which will be given a fund of up to $50 million to deploy.
— Deal Street Asia (paywall)

Oil and gas had hidden role in Australia’s response to Indonesian invasion of Timor-Leste
Newly declassified documents have revealed that Australia appeared driven by a desire for oil and gas rights when it was deciding to legitimise the Indonesian occupation of Timor-Leste.
— The Guardian

China Opens Door to More Indonesian Palm Oil as EU Seeks Import Ban
Chinese Premier Li Keqiang signaled Monday that Beijing will increase imports of Indonesian palm oil, expanding a key market for Jakarta as environmental concerns fuel opposition to the product in other parts of the world.
— The Wall Street Journal

Indonesia’s retail sales up 2.5 pct y/y in March, survey shows
Indonesian retail sales grew 2.5 percent in March from a year earlier, a central bank survey showed on Monday, up from February’s figure.
— Reuters

Indonesia Q1 GDP misses estimates with 5.06% rise
Indonesia’s economy grew at a slower pace than forecast in the first three months of 2018.
— Financial Times

South Sumatra’s imports up 325.4 percent in March
Palembang, S Sumatra (ANTARA News) – Imports of South Sumatra in March, 2018 shot up 325.4 percent in value to US$133.04 million in comparison with its imports in the previous month.
— Antara News

Court Rejects Hizbut Tahrir Indonesia’s Plea to Reverse Disbandment Order
The Jakarta State Administrative Court rejected a petition by Hizbut Tahrir Indonesia on Monday (07/05) to overturn a ministerial decree disbanding the hardline Muslim organization.
— Jakarta Globe

Indonesia’s Social Forestry Program
In a combined bid to improve the lives of slash-and-burn farmers and to keep forests sustainable, the Indonesian government is several months into its Perhutanan Sosial (Social Forestry) program, put in place last September by President Joko Widodo.
— Asia Sentinel

Foreign Investors Are to Blame for Indonesia ETFs’ Sudden Fall
Indonesia’s markets and country-specific ETFs have been among the worst performers in the emerging markets category as foreign investors pull capital out of the country.
— ETF Trends

Chinese premier calls for concrete measures to reinforce China-Indonesia ties
Visiting Chinese Premier Li Keqiang on Monday called for taking concrete measures to strengthen relations with Indonesia and promote the synergy of the two countries’ development strategies.
— Xinhua

Indonesia firm eyes to operate in PH as TNC : LTFRB
Indonesian ride-hailing firm Go Jek has expressed its interest to operate in the Philippines as a transportation network company (TNC), according to an official of the Land Transportation Franchising and Regulatory Board (LTFRB).
— Philippine News Agency

Indonesian Institutions File Class Action against Facebook
Two institutions plan to file a lawsuit against Facebook over the data misuse scandal involving Indonesians’ personal information.
— Tempo.co

Panorama ready to be ASEAN player
Indonesia’s Panorama Destination travel group fell short of its inbound tour target in 2017, mainly due to the volcanic eruptions of Mount Agung in Bali, according its report to shareholders at its AGM last week.
— TTR Weekly

Supplying ASEAN’s Appliance Market
With disposable-income levels rising steadily among Indonesia’s 260 million-strong population and a wider range of affordable products reaching the market, impulse buying is rising in Indonesia, a development not lost on exhibitors at last August’s Indonesia International Electronic and Home Appliances Expo.
— Thailand Business News (media release)

Premier Li says Chinese companies in Indonesia should prioritize hiring local workers during visit
The political positioning for next year’s presidential election in Indonesia is already well underway and opponents of President Joko Widodo, such as his likely challenger Prabowo Subianto, are focusing on fears about an alleged influx of foreign workers from China as a line of attack against the incumbent.
— Coconuts Jakarta

Prodia to set aside 40% of profits as dividends
Publicly listed clinical laboratory services provider PT Prodia Widyahusada announced on Monday that it would set aside 40 percent of its profits, or about Rp 60.3 billion (US$4.3 million), as dividends for its shareholders.
— The Jakarta Post

House Speaker Optimistic Indonesia Belongs to Top 10 World Economies in 2030
Speaker of the House of Representatives Bambang “Bamsoet” Soesatyo affirmed the success of utilizing the Industrial Revolution 4.0 will make Indonesia the top 10 world economic power in 2030.
— Netral News

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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.

Indonesia Morning News For May 8 added by Stella-maris Ewudolu on May 8, 2018
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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.