Indonesia Morning News For November 24

Indonesian startup wages war on plastic with edible cups
Jakarta food and beverages retailer Ong Tek Tjan sells ice cream in cups his customers can eat afterwards, instead of throwing away – they are made from seaweed and taste like jelly, in flavours from peppermint to green tea.
— Bangkok Post

Indonesia, South Korea initiate plan to develop electric car battery
Maritime Affairs Coordinating Minister Luhut Binsar Pandjaitan has met with Korean Ambassador to Indonesia Cho Tai-young on Thursday to discuss the countries’ joint development of a lithium-ion battery for electric cars.
— The Jakarta Post

Jollibee eyes 15 more outlets in Singapore, market in Indonesia
Philippine fast-food giant Jollibee is opening at least 15 more outlets in Singapore in the next five years, and breaking into Indonesia’s huge market in 2019.
— The Straits Times

Indonesia’s top car seller fights competitors with bigger SUVs
Indonesia’s Astra International on Thursday announced major makeovers for two of its passenger car models as the country’s top automotive distributor seeks to fend off a wave of new competition.
— Nikkei Asian Review

Economic growth in 2018 stagnant at 5%: Economists
Several economists have expressed their doubt that the target of 5.4 percent economic growth as stipulated in the 2018 state budget could be achieved, after weak growth of only 5.03 percent in the third quarter of 2017.
— The Jakarta Post

DOKU Launches Solution to Accelerate Go Online Strategy
The online buying and selling activities or e-commerce in Indonesia continues to grow, with growth rate reaching double digits every year.
— Netral News

Russian food & beverage exporters eye Indonesian market
The Russian Export Center has participated in SIAL Interfood 2017 at Jakarta International Expo Kemayoran, held until Saturday, to introduce its food and beverages to Indonesians.
— The Jakarta Post

Indonesian Coal Miners Looking for Acquisitions to Boost Capacity
On a year-on-year basis, the HBA has risen nearly 12 percent. Meanwhile, Newcastle Coal Futures (for March Delivery) have jumped nearly 16 percent since the start of the year.
— Hellenic Shipping News

Three State-Owned Securities Firms Predict PP Presisi Will Achieve Profit up to IDR182 Bln
Based on the results of research by PT Bahana Sekuritas, PT Danareksa Sekuritas and PT Mandiri Sekuritas as underwriters of Initial Public Offering (IPO) for PT PP Presisi Tbk (Perseroan)’s shares, the nation’s largest civil construction and building company in Indonesia is expected to post net profit margin of 8 to 10 percent in 2017.
— Netral News

Indonesia’s IDN Media secure Series B funding
IDN MEDIA, an Indonesian digital media company for millennials and Gen Z, has secured Series B funding from a group of investment firms.
— Digital News Asia

Indonesia’s Bontang LNG export plant suffers output curbs
Indonesia’s giant Bontang liquefied natural gas (LNG) export facility is experiencing production problems that could last up to a month and reduce output by four to seven cargoes, trade sources said on Thursday.
— Business Recorder

Online Ojek Drivers March for Better Regulations
Thousands of online motor-taxi a.k.a. ojek drivers held a protest today.
— Tempo

Sri Mulyani declines to comment on new tax head
Finance Minister Sri Mulyani Indrawati refused to comment on the news that President Joko “Jokowi” Widodo has approved her proposal to appoint Robert Pakpahan as the new taxation director general.
— The Jakarta Post

Matahari Continues Expansion with Its 6th Outlet This Year
Modern retail network PT Matahari Department Store Tbk (LPPF), opened its newest outlet in Citimall Baturaja, South Sumatra.
— Netral News

Welcoming Upcoming Bogor-Ciawi-Sukabumi Toll Road, BTN Inaugurates Branch Office in Sukabumi
PT Bank Tabungan Negara (Persero) Tbk (BBTN.JK) is preparing a business strategy by picking up the ball when the government is planning to build a toll road that will connect Bogor-Ciawi-Sukabumi or Bocimi.
— Netral News

Messenger platform LINE Indonesia takes over carpooling startup TemanJalan
Messenger platform giant LINE, through its Indonesian business unit, on Thursday announced that it has taken over a local chatbot-based carpooling platform, TemanJalan, for an undisclosed amount.
— DealStreetAsia

Bali and Beyond Exhibition to Target Chinese Tourists
Indonesia’s Tourism Ministry will hold the Bali and Beyond exhibition on Nov. 26-27 at Amoy Plaza in Hong Kong to try to attract more Chinese tourists to Indonesia.
— JakartaGlobe

Feature photo ILO/G. Lingga
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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.