Indonesia Morning News For April 13

Exclusive: Indonesia’s Muslimarket.com raises Series A from 500 Startups, others
Muslimarket.com, one of Indonesia’s upcoming e-commerce Muslim marketplace platform, has closed its series A funding, that values the company at around $10 million. The startup raised the series A funding from seed stage venture capital firm 500 Startups, a local investment firm, and few unnamed individual investors.
— Deal Street Asia

Indonesia Construction Industry Investment Analysis forecast 2016-2021
Indonesia is known as the second most productive and profitable construction market in Asia, where a huge number of construction projects are undergoing in both residential as well as non-residential sectors.
— NewsMaker (press release)

Credit Cards To Be Removed From Obligatory Tax Report For Expats
New rules will make filing tax returns and obtaining an exit visa a little easier for expats.
— Indonesia Expat

Colony NorthStar (CLNS) Reaches $12.85 After 3.00% Up Move; Aberdeen Indonesia Fund Has 0.57 Sentiment
Aberdeen Indonesia Fund, Inc. is a non-diversified closed-end, management investment company. The company has market cap of $67.96 million.
— Key Gazette

Indonesia’s Pertamina plans to import up to 7.5 mil barrels of gasoline in May
Indonesia’s Pertamina plans to import 6.8-7.5 million barrels of gasoline in May, down 11%-19% from the 8.4 million barrels estimated as April imports, according to market sources.
— Platts

Stephen Grenville: Better financing can turn Indonesia’s infrastructure mess into an opportunity
In October 2018, Indonesia will host the annual meetings of the International Monetary Fund and the World Bank in the Balinese resort area of Nusa Dua. This is an important occasion: These annual talks take place outside Washington only every third year and involve thousands of high-level participants from across the globe.
— Nikkei Asian Review

Ant Financial brings mobile payments to Indonesia
In its latest foray outside of China, Ant Financial has teamed up with Indonesia’s Emtek Group on a mobile payments and financial services joint venture.
— Finextra (press release)

Rocket-backed ZEN Rooms closes $4.1 m series A led by Korean funds
Rocket Internet-backed South East Asia’s budget hotel company, ZEN Rooms, has closed its $4.1 m series A round, led by Korea’s Redbadge Pacific and SBI Investment Korea.
— Deal Street Asia

Indonesia offers 225 projects to IDB
The Indonesian government has offered 225 projects to the Islamic Development Bank (IDB) during the third IDB Sovereign Investment forum in Bali.
— The Jakarta Post

Future of cloud and data centres in Indonesia
THE Indonesian digital ecosystem is increasingly moving towards utilising cloud and data centres in the government and private sectors to increase transparency and offer faster access.
— Digital News Asia

Indonesia DB: Panorama-JTB close deal; Eagle High share transfer to Felda begins
Panorama Sentrawisata (Panorama Group) announced today that the agreement to divest 30.1 per cent shares of its unit Panorama Tours Indonesia to Japan’s JTB Corporation has officially been completed. Meanwhile, Malaysia’s Federal Land Development Authority (Felda) has reportedly begun the process of transferring shares of Eagle High Plantation to FIC Properties.
— Deal Street Asia

BREAKING: Search for Missing Cessna Aircraft in Papua
A Cessna C208 Caravan aircraft of Spirit Avia Sentosa airlines, known as Flying SAS, disappeared from radar screens in Papua on Wednesday (12/04).
— Jakarta Globe

Jakarta Police Form New Team to Tackle Traffic Jams
The Jakarta Police have established a new team to tackle increased traffic congestion in the capital city.
— Jakarta Globe

Indonesia Can’t Figure Out Why it’s on Trump’s Trade Hit List
Indonesia is seeking to stay out of U.S. President Donald Trump’s bad books, using a visit by his deputy Mike Pence next week to reassure on its commitment to free and fair trade.
— Bloomberg

Alfamart Operator Plans Rp 1t Bond Issuance, Set Aside Rp 2.9t Capex in 2017
Publicly listed retail store chain operator Sumber Alfaria Trijaya is planning to raise Rp 1 trillion ($75 million) from a bond sale to refinance debt, the company announced on Wednesday (12/04).
— Jakarta Globe

RPT-Indonesia eyes truce with Freeport as losses mount for both sides
Losses amounting to hundreds of millions of dollars appear to be pushing the Indonesian government and mining giant Freeport McMoRan to resolve a row that has crippled operations at Grasberg, the world’s richest copper mine, for three months.
— Daily Mail

Jakarta to have hundreds of low-entry buses
Bus operator Transjakarta has announced a plan to take into serve as many as 300 low-entry buses this year to serve passengers outside the designated busway lanes.
— The Jakarta Post

Govt refuses to implement moratorium on death penalty
Attorney General Muhammad Prasetyo indicated that Indonesia would continue to execute convicts when he confirmed that the government would not implement a moratorium on the death penalty despite mounting calls from human rights groups.
— The Jakarta Post

Bank Danamon pays Rp 934.15 billion dividend
Private lender PT Bank Danamon Indonesia will pay Rp 934.15 billion (US$70.36 million) dividend or Rp 97.48 per share to its shareholders.
— The Jakarta Post

Saudi Arabia deports 200 Indonesian umrah pilgrims
Saudi Arabia authorities have deported 200 Indonesian umrah (minor haj) pilgrims for allegedly violating immigration laws by working illegally in the country, which hosts the largest number of Indonesian migrant workers.
— The Jakarta Post

Police hunting assailants of top Indonesian graft buster
The National Police have launched an extensive manhunt across the country to track down the drive-by assailants who threw acid into the face of prominent Corruption Eradication Commission (KPK) investigator Novel Baswedan early on Tuesday morning.
— The Jakarta Post

Govt Will Evaluate Palm Oil Exports to Europe
Indonesian Agriculture Minister Andi Amran Sulaiman will evaluate the export of palm oil and palm oil-based biodiesel to Europe in response to the European Parliaments allegations which harms the national palm oil industry.
— Tempo.co

Jakarta police to anticipate terrorist attacks
Jakarta Police Chief Inspector General M. Iriawan has passed order for closer watch around the city police headquarters to forestall terror attacks.
— Antara News

Saudi Arabia to build university in South Sulawesi
The Saudi government is looking into the possibility of establishing a university in the Indonesian province of South Sulawesi.
— Antara News

Indonesian BNPT, PPATK cooperate to prevent terrorism financing
The National Counterterrorism Agency (BNPT) and the Financial Transactions Analysis and Reporting Center (PPATK) have signed a memorandum of understanding (MoU) to strengthen efforts to prevent and eradicate terrorism financing.
— Antara News

Indonesia bailout fund too small for bank restructuring mandate
Indonesia’s bank deposit insurance agency is discussing ways to bolster its 75 trillion rupiah (S$7.88 billion) war chest which a top official says is insufficient for its new mandate of restructuring banks on top of bailing out depositors.
— The Business Times

Indonesia’s largest telco Telkom unblocks Netflix after new partnership
Telkom users in Indonesia can now enjoy Netflix after the streaming giant signed an agreement with the largest telco in Indonesia, according to an e27 report.
— The Drum

Soft Start Seen For Indonesia Stock Market
The Indonesia stock market on Wednesday ended the three-day slide in which it had given away more than 50 points or 0.9 percent. The Jakarta Composite Index now rests just shy of the 5,645-point plateau, although the market may hand back those gains on Thursday.
— Nasdaq

Indonesian volcano in fresh eruptions
A volcano on Indonesia’s Sumatra island spewed hot smoke and ash high into the air Wednesday (Apr 12), in its latest violent eruptions.
— Channel NewsAsia

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Indonesia Morning News For April 13 added by Stella-maris Ewudolu on April 13, 2017
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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.