Indonesia Morning News For June 22

Indonesia Morning News For June 22

Indonesia morning news

Soaring prices put off Indonesian home buyers
Analysts love them, investors loathe them. Three out of the seven Indonesian stocks which have unanimous buy recommendations from analysts are residential developers and all of them have fallen by at least 16 per cent this year.
— Gulf News

Economic momentum strengthens in Q2
The economic picture has brightened recently after growth ticked up in Q1 and the country received investment grade ratings from all three credit ratings agencies. Data for the second quarter suggests that the economy continues to gather steam, albeit slowly.
— Focus Economics

Jakarta plans to spend Rp 74 trillion next year
The Jakarta administration has agreed to include all the programs of governor-elect Anies Baswedan in the 2018 budget, the documents of which have been sent to the City Council.
— The Jakarta Post

Logicalis, Metrodata to buy Packet Systems Indonesia from DMX for $7.5m
Datatec’s Logicalis and Indonesia-based Metrodata Electronics have agreed to buy 60 per cent stake in Packet Systems Indonesia (PSI), an ICT systems integrator and services company owned by DMX Technologies.
— Deal Street Asia

PLN launches construction on 20 MW Tulehu geothermal project in Central Maluku, Indonesia
PLN has launched work on its 20 MW Tulehu geothermal power project in Maluku Regency, Indonesia. The plant is expected to start operation in 2019.
— Think GeoEnergy

Indonesia to build 10,000 barrels per day refinery in Nigeria
An Indonesian firm, PT Intim Perkasa Nigeria Ltd, a subsidiary of PT Intim Perkasa, Indonesia, has indicated interest to build a refinery in Nigeria.
— Daily Trust

The 0.1 Percenter: Millionaire Households Control Half of Indonesia’s Wealth
A tiny number of millionaire households will control more than 50 percent of Indonesia’s financial wealth — around $900 billion — by 2021, a new report from Boston Consulting Group showed, making it harder for the government to end economic inequality in the country.
— Jakarta Globe

Central, eastern airports gear up for 7.1m Idul Fitri travellers
State-owned airport operator PT Angkasa Pura I expects to see 7.15 million passengers flying in and out of its 13 airports in central and eastern Indonesia during this year’s mudik (homecoming journey) season between June 15 and July 11.
— The Jakarta Post

Unilever Indonesia Shareholders Approve 2016 Final Dividend, Standby Loan
Shareholders of consumer goods giant Unilever Indonesia have approved a final 2016 dividend payment of Rp 6.37 trillion ($478.77), equivalent to Rp 835 per share, the company said in a statement on Tuesday (20/06).
— Jakarta Globe

Banks to charge fees for cashless toll road system
Following the government’s plan to implement a fully cashless system on Indonesia’s toll roads by October this year, Bank Indonesia (BI) officials have said they are discussing a mechanism to charge citizens e-money to travel down the highways.
— The Jakarta Post

Why Freeport’s Stock Has Disappointed Despite Higher Copper Prices This Year
Activist investor Carl Icahn reduced his stake in Freeport-McMoRan to 6.33% recently from 7.2% in November of last year. Copper prices currently stand around 20% higher than the levels seen in the first ten months of last year (before the 2016 U.S. presidential election), as illustrated below.
— Forbes

OJK Freezes Three Fraudulent Investment Companies Ahead of Idul Fitri Celebrations
The Financial Services Authority, or OJK, suspended three fraudulent investment companies claiming to offer shockingly high returns, an official said on Wednesday (21/06).
— Jakarta Globe

Indonesian Islamic sect say they’re “denied state IDs” over their beliefs
Members of an Indonesian Islamic sect have issued a complaint that their human rights were breached by a local government refusing to issue them state ID cards unless they renounce their belief, a rights group said on Wednesday.
— Channel NewsAsia

Indonesia tackles illegal gold rush
Hulking excavators claw at riverbanks on Indonesia’s Sumatra island in the hunt for gold, transforming what was once a rural idyll into a scarred, pitted moonscape.
— The Straits Times

Freeport Indonesia workers to extend strike for a month -union
Thousands of mine workers at the Indonesian unit of Freeport-McMoRan Inc will extend their strike for another month to protest against layoffs, a union official said on Wednesday.
— Reuters

New Anti-Terrorism Law to Allow Jailing of Militant Returnees
Jakarta. Indonesia is set to approve a law allowing authorities to jail for up to 15 years citizens coming home after joining militant groups abroad, lawmakers said on Wednesday (21/06).
— Jakarta Globe

Indonesia’s largest Muslim youth group plans to tackle extremism through humanitarian declaration
An Indonesian doctor on Sumatra island and a teenager in Jakarta fled from their homes last month in fear of vigilantes from the radical Islamic Defenders Front (FPI) who threatened and harassed them.
— Channel NewsAsia

BEI index hits a new record high
The composite share price index (IHSG) of the Indonesian Stock Exchange (BEI) hit a new record closing at 5,818.55 points on Wednesday.
— Antara News

10-year old boy of Indonesian descent amazes Apple CEO with his innovations
A ten-year old boy of Indonesian descent has reportedly impressed Apple CEO Tim Cook with the apps he created during the Worldwide Developers Conference in San Jose, the United States, earlier this month.
– Thai PBS

 

Feature photo Merdeka Online
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.

 

 

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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.

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