Indonesia Morning News For December 19

Indonesia gaming industry has great economic potential: Industry group
The gaming and animation industry has great potential to boost the economy, as Indonesia is one of the largest markets of the global industry, the industry association has said according to a kompas.com report recently.
— The Jakarta Post

President Jokowi keen to invest in five start-ups
President Joko Widodo (Jokowi) has decided to become an investor in five start-ups that are operating their businesses in Bandung, West Java.
— Antara

Rp100bn Needed for Bali Tourism to Recover after Mt Agung Erupts
Tourism Minister Arief Yahya said that promotional efforts that will cost at least Rp100 billion will be needed for Bali tourism to recover after Mount Agung eruption.
— Tempo

Plans to Acquire Three Fintechs, GoPay Must Ask for BI Permit
Executive Director of the Department of Communications Bank Indonesia (BI), Agusman said the takeover of institutions other than banks that have been licensed as a provider of payment systems, institutions other than banks must submit a written approval request.
— Netral News

SE Asia Startup Generated Investments up to 12 billion US Dollar
Google and Temasek announced the result of its latest research on Southeast Asia’s digital startup companies.
— Tempo

Pertamina to close 13 illegal wells in Jambi
State-owned energy giant Pertamina, through its upstream subsidiary PT Pertamina EP, will close the operation of 13 illegal oil wells in Pompa Air village, Batanghari, Jambi.
— The Jakarta Post

Gov’t’s Foreign Debt Is Alarming
The government’s foreign debt is considered to have reached an alarming point. Bank Indonesia (BI) recorded that at the end of October 2017, foreign debt has amounted to US$341.5 billion or grew by 4.8 percent year on year (yoy). Where, government debt reached US$169,784 billion.
— Netral News

State construction firm Waskita Karya to divest Rp 4t worth of assets
State-construction firm PT Waskita Karya plans to divest assets worth Rp 4 trillion (US$294.8 million) next year.
— The Jakarta Post

TICON forms second JV with local listed firm for expansion in Indonesia
Ticon Industrial Connection Pcl (TICON), a Thai-listed factory and warehouse developer, has formed a second JV firm with Indonesia’s property developer PT Surya Semesta Internusa Tbk (SSIA) to expand into South Sulawesi and South Kalimantan areas.
— DealStreetAsia

Government disburses Rp 25.29t to 34 toll road operators
The government through the State Asset Management Agency (LMAN) has disbursed Rp 25.29 trillion (US$1.77 billion) to 34 toll road operators, tribunnews.com reported on Monday.
— The Jakarta Post

Building Kumbih III Hydropower Plant, PLN Secures EUR85 Mln from German Development Bank
State electricity company PT PLN (Persero) signed a loan agreement with Kreditanstalt für Wiederaufbau (KfW) Development Bank of Germany to finance the construction of Kumbih III hydropower plant.
— Netral News

GMF Aero Asia in Final Talks With Overseas Partners for $50m MRO Facility in Batam
The aircraft maintenance unit of national flag carrier Garuda Indonesia plans to establish a new maintenance, repair and operations facility at Hang Nadim International Airport in Batam, Riau Islands, with European and Japanese partners next year to secure its market share in the region.
— JakartaGlobe

Bali airport receives requests to accommodate 477 additional flights
The management of Bali`s I Gusti Ngurah Rai International Airport has received requests to accommodate 477 additional flights from national airlines owing to high demand during the peak season of Christmas and New Year.
— Antara

OVO Expands to Complement Services Offered by Conventional Banks
Technology-based payment services company OVO, which forms part of the Lippo Group, sees ample room for expansion in Indonesia to complement conventional banks.
— JakartaGlobe

Indonesia Losing Its Only Female Top Justice
Indonesia is set to lose its first and only female constitutional justice, whose term is up next year, potentially dealing a blow to women’s rights in a country where they’re being challenged in the face of growing religious conservatism.
— Bloomberg

Indonesian-Born Property Developer Helps Preserve Australian History
Crown Group, a Sydney-based property developer founded by Indonesian-born Iwan Sunito, has opened to the public an archaeological site displaying Australia’s oldest surviving remnants of a convict hut and hotel at one of the group’s apartment developments in Sydney.
— JakartaGlobe

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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.