Indonesia Morning News For April 7

Indonesia Morning News For April 7

Indonesia morning news

Constitutional Court Takes Away Home Affairs Ministry’s Power to Revoke Local Regulations
The Constitutional Court on Wednesday (05/04) ruled that the Home Affairs Ministry can no longer revoke local regulations issued by provincial, city or district administration unilaterally.
— Jakarta Globe

ADB Maintains Indonesia Growth Forecast, Highlights Need to Close Skills Gap
The Manila-based Asian Development Bank is maintaining its view that Indonesia’s gross domestic product growth will accelerate this year, expecting improvements in private investment and trade.
— Jakarta Globe

Philippines, Indonesia bust terror plots
Philippine security forces arrested a Kuwaiti and a five-month pregnant Syrian for suspected links to Islamic State three months after they arrived, authorities revealed on Thursday.
— Bangkok Post

Thailand-based EGCO takes 20% stake in Chevron geothermal assets in Indonesia
Thailand-based company EGCO has acquired a 20% stake in two geothermal power plants in Indonesia, as part of a deal by Philippines-based Ayala Corp. and Indonesian Star Energy involving the sale of geothermal assets by Chevron in Indonesia.
— Think GeoEnergy

Indonesia seeks $10b in investments from UAE
Indonesia is targeting $10 billion (Dh36.7 billion) investments from the UAE in a wide range of sectors including oil and gas, hospitality and power generation, the country’s ambassador, Husin Bagis, told Gulf News in an interview on Thursday.
— Gulf News

MNC Bank to disburse loans of Rp9t in 2017
Private lender MNC Bank targets plans to disburse Rp 9 trillion (US$675.32 million) of loans by the end of this year, 55 percent of which will be for the consumer sector.
— The Jakarta Post

Indonesia, Japan Develop Quake-predicting System
The Indonesian National Disaster Mitigation Agency (BNPB) and the Japanese Earthquake Prediction Research Centre (EPRC) are seeking to cooperate to increase the capacity of early detection system of earthquakes in Indonesia.
— Netralnews

Freeport expected to divest 51 percent of shares to Indonesia before 2021
Coordinating Minister for Maritime Affairs Luhut Binsar Panjaitan has expressed hope that copper and gold mining firm PT Freeport Indonesia will divest 51 percent of its shares to Indonesia before its contract ends in 2021.
— Antara News

Indonesia O2O startup Pomona app secures seed funding led by Frontier Capital
Indonesia-based Frontier Capital has led a seed funding of an undisclosed amount into Tennova Cipta Inatech, the operator of O2O marketing solution startup Pomona Shopping Rewards.
— Deal Street Asia

Indonesia: DOKU investor Gemilang Dana Sentosa buys 20% of Bareksa
Gemilang Dana Sentosa, who is also a backer of e-payment provider DOKU, has invested an undisclosed amount in mutual funds marketplace and news portal Bareksa.
— Deal Street Asia

Japfa Comfeed Indonesia Seeks to Raise Rp 1t From Bond Sale
Japfa Comfeed Indonesia, a poultry, and animal feed company, seeks to raise Rp 1 trillion ($75 million) from a bond sale this month to repay maturing debt and acquire working capital.
— Jakarta Globe

Apartment Sales Drop in Q1 Due to New Luxury Tax
Sales of apartment declined in the first quarter of 2017 as a result of the government charging a new value-added luxury tax, property consultancy firm Jones Lang LaSalle said on Wednesday (05/04).
— Jakarta Globe

BP to develop Indonesian retail fuel business with AKR Corporindo
The joint venture will form a company, PT Aneka Petroindo Raya, which will operate as BP AKR Fuels Retail, and expects to open its first retail site in Indonesia in 2018.
— Free Malaysia Today

Indonesia opens nation’s first state Catholic college
After a long, bureaucratic process, the Santo Agustinus Pastoral Institute (STP) in Kubu Raya, West Kalimantan, experienced a historic moment on Thursday as it began operations as a government-run educational institution now named the Pontianak State Catholic Institute (STAKatN).
— The Jakarta Post

Indonesian police foil Jakarta attack hatched by militant on death row: Source
Indonesian police have foiled a Mumbai-style terror attack in the heart of Jakarta, which was hatched by a militant from inside a maximum-security prison, a counter-terrorism source told Channel NewsAsia on Thursday (Apr 6).
— Channel NewsAsia

New 18Tbps cable to connect Singapore, Indonesia and Australia
Australian company Superloop has acquired subsea cable operator Subpartners and has announced plans to build a new cable linking Singapore and Indonesia with Australia.
— Capacity Media

Google’s picks for the 15 best Indonesian mobile games
Many young adults in Indonesia grew up playing video games from Japan and America, and some of them loved them so much that they went on to become talented game designers themselves. Nowadays, you can find plenty of Indonesian-themed games from Indonesian designers, especially mobile game apps.
— Coconuts Jakarta

Rising Earnings of Indonesian Firms in 2016, More Dividend in 2017?
Improving corporate earnings of Indonesia’s listed companies in full-year 2016 should mean shareholders can expect to receive more dividend payouts this year. Based on data from Kustodian Sentral Efek Indonesia (KSEI), so far this year 33 listed companies on the Indonesia Stock Exchange have announced their payout ratio. However, many more are expected to follow. Considering the generally improving financial reports, we expect more companies to distribute dividend in 2017 compared to last year’s 248 listed companies.
— Indonesia Investments

Indonesia offers transportation infrastructure projects to Australia
Indonesias Transportation Ministry has offered investment in some transportation infrastructure projects to Australia as part of the bilateral cooperation under the Indonesia Transport Safety Assistance Package that has been running since a decade.
— Antara News

Indonesia is ASEAN`s key element: British State Secretary
The British government views Indonesia as a key element for development in the Association of Southeast Asian Nations (ASEAN) region, Great Britains State Secretary for International Trade Dr Liam Fox stated.
— Antara News

Surya Semesta gets approval to sell unit’s shares to Astra
Shareholders have approved PT Surya Semesta Internusa’s (SSIA) plan to sell its shares in PT Bhaskara Utama Sedaya (BUS) under its subsidiary PT Karya Sedaya Sejahtera (KKS) to Astra subsidiary PT Astratel Nusantara for Rp 2.34 trillion (US$175.55 million).
— The Jakarta Post

Tiket.com Hacking Shows Vulnerability of Indonesia’s Online Businesses
The recent hacking of Tiket.com, one of Indonesia’s largest online travel agents, by a group of teenagers and a 27-year-old is just the tip of the iceberg and the incident should prompt businesses to take drastic action to secure their websites, an information and communication technology executive said.
— Jakarta Globe

Indonesia to Step Up Sustainability Efforts With Tourism Observatories
The Tourism Ministry has tasked five sustainable tourism observatories with monitoring and improving tourism practices in top tourist destinations in a bid to accelerate the development of sustainable tourism in Indonesia.
— Jakarta Globe

Freeport Awaits Permit to End Costly Indonesia Export Ban: Execs
Freeport McMoRan is awaiting final details on a temporary export permit in Indonesia, which would end a 12-week ban that has cost the world’s biggest publicly traded copper company nearly $1 billion in lost revenues, its top executives told Reuters in an interview on Wednesday (05/04).
— Jakarta Globe

Kalla: US should question itself on trade imbalance
The US Meat Export Federation has gone the extra mile to fly in a “butcher shop” packed with fresh cuts of prime beef and pork.
— The Star Online

After tax amnesty, all eyes on Indonesia’s tax reform plans
Indonesia’s tax amnesty has raked in billions of dollars for the government, and all eyes are now on reform that is being planned to improve tax collection in Asean’s biggest economy.
— The Straits Times

Donald Trump Is Building a Mega Resort in One of Indonesia’s Last Virgin Forests; Environmentalists Are Freaked Out
If you’re looking to escape the name “Donald Trump,” lighting out to Indonesia is becoming a worse and worse option. The president is in the process of building two new resorts in Indonesia, one of which is a mega resort — that will feature a freaking “Disneyland-like” theme park.
— The Inertia

Garuda Indonesia Appoints First Female Captain
Flag carrier Garuda Indonesia has appointed its first ever female captain, the first major Indonesian airline to do so.
— Jakarta Globe

Malaysia Set to Launch Joint Sea Patrols with Indonesia, Philippines
Nearly a year after Malaysia, Indonesia and the Philippines agreed to launch joint sea patrols to stop piracy and kidnappings by Abu Sayyaf Group (ASG) militants, Malaysian and Indonesian defense officials said trilateral operations would start this month – possibly on Tuesday.
— Benar News

 

Feature photo Egy Prasetyo
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Stella-maris Ewudolu

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 2004 and February 2011 she was a staff writer at Daylight Online, Nigeria writing on health, fashion, and relationships. Since 2010 she has worked as a freelance screen writer for 'Nollywood', Nigeria.
Stella-maris Ewudolu

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