Indonesia Morning News For May 5

Indonesia Morning News For May 5

Indonesia morning news

Tencent Leads $1.2 Billion Investment in Indonesia’s Rival to Uber
Chinese internet giant Tencent (700.HK) led a USD1.2 billion funding round into Indonesia’s answer to Uber.
— Barron’s

Foreign Tourist Arrivals Increased 15 Percent in First Quarter of 2017
The number of foreign tourist arrivals in Indonesia showed a 15 percent increase in the first quarter of 2017 compared to the same period last year, according to a statement by the Ministry of Tourism.
— Jakarta Globe

Lippo Group to Build $21 Billion ‘Meikara’ Industrial Center Near Jakarta
Indonesia’s diversified conglomerate Lippo Group plans to build a $21 billion (Rp 278 trillion) industrial city in the outskirts of Jakarta, targeting the automotive and electronic industries, and will include five-star hotels and shopping malls in the area.
— Jakarta Globe

Gov’t to Abolish Cash Payments on Toll Roads by October
The government will require all toll road users in the country to conduct electronic transactions beginning in October in an attempt to ease traffic flows on major thoroughfares.
— Jakarta Globe

Victoria Insurance posts 42% decline in Q1 profit
Publicly listed insurer PT Victoria Insurance has posted Rp 2.33 billion (US$174,793) profit before taxes in the first quarter of 2017, a 42.62 percent decrease compared to the Rp 4.05 billion in the same period last year.
— The Jakarta Post

Gov’t Resurrects Plan to Tax Plastic Bags
The government is wrapping up a study that will back its plan to impose a tax on plastic bags as part of efforts to curb their use, while at the same time boost state revenue, a senior official said on Wednesday (03/05).
— Jakarta Globe

Viettel plans to expand to Indonesia, Nigeria
Vietnam’s Viettel is reportedly eyeing a foray into Indonesia and Nigeria as part of its international expansion drive.
— Telecom Asia

Fishery sector needs to move to aquaculture: Jokowi
President Joko “Jokowi” Widodo wants the Indonesian fishery sector to pay closer attention to modern breeding methods, such as offshore aquaculture, instead of focusing on fishing trawlers.
— The Jakarta Post

Ahok plans to pass decree giving victims of domestic violence access to free medical examinations
Jakarta Governor Basuki “Ahok” Tjahaja Purnama is putting together a gubernatorial decree so that the city takes a more proactive approach towards protecting and ensuring justice towards victims of domestic violence.
— Coconuts Jakarta

Q1 Earnings Indonesia’s Property & Industrial Estate Firms Remain Weak
The performance of those Indonesian property companies and industrial estate managers that are listed on the Indonesia Stock Exchange is not very encouraging so far this year. When we take a look at the corporate earnings of 17 listed property firm and industrial estate managers, then we see a combined 37.6 percent year-on-year (y/y) fall in net profit in the first quarter of 2017 (from their net profit in the same quarter one year ago). Meanwhile, their combined revenue fell 0.6 percent (y/y) in Q1-2017.
— Indonesia Investments

Live cattle exports to Indonesia slow as beef price pressure takes a toll
High cattle prices continue to make difficult trading conditions for Australian live cattle exporters, as Indonesia looks to cheaper forms of protein.
— ABC Online

Exclusive: CapSquare Partners hits final close for $150m Indonesia-focused fund
Indonesia-based private equity (PE) firm CapSquare Partners is learnt to have hit the final close for its $150 million fund, according to three individuals close to the development. The firm is set to officially announce the close of this fund, that will be be focussed on Indonesia, within the next couple of weeks, DEALSTREETASIA has learnt.
— Deal Street Asia

Indonesia launches $2.6 billion lawsuit over WA oil spill
The Indonesian government has launched a $US2 billion ($2.6 billion) lawsuit against the company responsible for the worst oil spill in the history of Australia’s offshore petroleum industry.
— The Sydney Morning Herald

UOB unit drives FDI worth over $27b in S-E Asia
A unit at United Overseas Bank (UOB) that deals with foreign direct investment helped steer more than $27 billion worth of business spending in South-east Asia last year – double the amount recorded in 2015.
— The Straits Times


Feature photo Celina Schou
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).


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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.




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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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