Indonesia Morning News For May 23

Indonesia Morning News For May 23

Indonesia morning news

Indonesia Ranked in Third Position over Fishery Exports in SEA
Indonesia’s fishery exports to neighboring countries ranked third in Southeast Asia, Maritime Affairs and Fisheries Minister Susi Pudjiastuti stated during the 44th anniversary of the Indonesian Fishermen Association (HNSI) celebrated here on Sunday.
– Netral English

Vietnamese, Indonesian patrol boats square off in Natuna waters
Indonesian authorities released five Vietnamese vessels after a patrol boat belonging to the neighboring country intercepted in the arrest of the vessels for fishing illegally in Natuna waters in Riau Islands on Sunday, an official has confirmed.
– The Jakarta Post

Increased Infrastructure Financing Expected After Indonesia Secures Investment-Grade Status
Securing investment-grade status from global credit rating agency Standard & Poor’s gives Indonesia a stronger footing to pursue more infrastructure developments, a state minister said on Monday (22/05).
– Jakarta Globe

Invitation to Build Steel Industry
Three of the largest producers of coated steel, aluminium and zinc in Indonesia, PT NS BlueScope Indonesia, PT Saranacentral Bajatama Tbk and PT Sunrise Steel, initiated the association of Indonesian Zinc-Aluminium Steel Industry (IZASI). IZASI, which was formed in November 2012, is to support growth and set coated steel standards in Indonesia to compete in international markets.
– Netral English

Industrial Estate Developer Puradelta Sets Aside Rp 900b in Capex for 2017
Industrial estate developer Puradelta Lestari has set aside Rp 900 billion ($67 million) in capital expenditure this year, the bulk of which will be used for land acquisition and developing infrastructure in its integrated township in Cikarang, West Java, the developer said in a filing to the Indonesia Stock Exchange on Monday (22/05).
– Jakarta Globe

Association expects slow auto sales this year
Association of Indonesian Automotive Manufacturers (Gaikindo) chairman Yohannes Nangoi has said automotive sales are expected to increase 3.7 percent to 1.1 million vehicles this year.
– The Jakarta Post

Bank Indonesia to Integrate Electronic Payment ahead of Eid
Bank Indonesia (BI) is seeking to integrate electronic payment system of various banks and issuers on toll roads during the Eid al-Fitr homecoming in June.
– TEMPO.CO

Transformer Manufacturer Trafoindo Prima Plans to Raise Rp 480b in June IPO
Trafoindo Prima Perkasa, an electrical transformer manufacturer, seeks to raise up to Rp 480 billion ($36 million) from an initial public offering next month to expand its business in the wake of rising demand created by the government’s push to increase access to electricity in the country.
– Jakarta Globe

Hundreds of Investors Explore Opportunities in Manado
Indonesia’s Investment Coordinating Board, or BKPM, kicked off an economic conference in Manado, North Sulawesi, on Monday (22/05), as part of the government’s strategy to attract additional investments to the area.
– Jakarta Globe

Factors Supporting Indonesia, Russia to Intensify Business, Investment Promotion
The Indonesian Embassy in Moscow in association with the House of Indonesia and the Honorary Consul of Indonesia to Russia held a business and investment forum in Vladivostok, the biggest city in the Russian Far East.
– Netral English

Indonesia, Sweden Strengthen Cooperation in Air Navigation, Creative Industry
Indonesia and Sweden agreed to increase bilateral cooperation in air transport navigation and to strengthen partnerships in the creative industry, according to a statement issued by the Cabinet Secretariat on Monday (22/05).
– Jakarta Globe

Ahok Withdraws Appeal against Jail Sentence for Blasphemy
Basuki Tjahaja Purnama alias Ahok has withdrawn the appeal against his jail sentence for blasphemy. “He said that if he appeals, he could get a harsher sentence if a request for a cessation is filed. He fears that his political rights could be revoked,” Ahok’s defense lawyer Darwin Aritonang told Tempo.
– TEMPO.CO

Veronica Tan Reveals Reason behind Withdrawal of Ahok`s Appeal
Veronica Tan, the wife of inactive Jakarta governor Basuki Tjahaja Purnama alias Ahok, has revealed the reason behind the withdrawal of the appeal against Ahok’s two-year jail sentence handed down by the North Jakarta District Court in a blasphemy case.
– TEMPO.CO

Pan Brothers Invests $30 Mln on 2 Plants
PT Pan Brothers Tbk (PBRX) allocated US$35-37 million in capital expenditure/capex for 2017.
– Netral English

 

Feature photo David Stanley
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