Indonesia Morning News For November 29

Indonesia Morning News For November 29

Indonesia morning newsIndonesia central bank plans new rules to improve loan, liquidity
Indonesia’s central bank is seeking to improve credit distributions by banks and improve their liquidity management, governor Agus Martowardojo said during its annual bankers dinner on Tuesday.
— The Star Online

Indonesia’s mobile payments industry to enter defining year
The early adoption of mobile payments in Indonesia compares favorably with the take-up of earlier cashless payment systems, suggesting consumer enthusiasm.
— Nikkei Asian Review

PT Telkom to buy Malaysian satellite operator
Indonesia’s PT Telkom has arranged to acquire a majority stake in Malaysian satellite operator TS Global Network for up to $26 million.

Mining mire spreads in Indonesia
American mining giant Freeport McMoRan Copper & Gold may dominate headlines for its endless negotiations with the Indonesian government over the fate of its rich Grasberg mine, but spare a thought for the small foreign mining firms who are getting trampled in the process.
— Asia Times

Trump’s Indonesia Partner to Back Jokowi for President in 2019
An Indonesian media tycoon who has partnered with U.S. President Donald Trump’s family said he’ll back President Joko Widodo for a second term in 2019.
— Bloomberg

GAP Says Farewell to Indonesia by Offering Large Discounts
Indonesia’s retail industry continues to show a negative trend after the well-known American clothing and accessories retailer GAP decided to close its three Indonesian outlets.
— Tempo

Indonesia to offer tax incentives to manufacturing industry: Minister
The Industry Ministry will provide the manufacturing industry — a main contributor to gross domestic product (GDP) — with three tax incentives to try to boost the country’s economy, which has seen slow growth in recent years.
— The Jakarta Post

Indonesia receives US$11.8 billion trust fund from Denmark
Indonesian Coordinating Minister for Maritime Affairs, Luhut Pandjaitan, and Danish Prime Minister, Lars Lokke Rasmussen, witnessed the signing of a Memorandum of Understanding (MoU) of the Danish government`s contribution to the Oceans, Marine Debris and Coastal Resources Multi-Donor Trust Fund (OMC-MDTF), worth US$11.8 billion, for supporting Indonesian Ocean Agenda.
— Antara

Nine airports prepared to take over Bali airport’s job
State-run air navigation company AirNav Indonesia has designated nine airports for planes that were scheduled to land at Bali’s the temporarily closed I Gusti Ngurah Rai International Airport.
— The Jakarta Post

CPO reference price increases in December
The trade ministry has determined the reference price to set the export tax of crude palm oil (CPO) at US$742.94 per ton or an increase of 0.45 percent.
— Antara

Indonesian, Russian oil companies sign joint venture document
PT Pertamina, through subsidiary PT Kilang Pertamina Internasional (KPI), and Russian Rosneft Oil Company, through affiliate Petrol Complex PTE LTD, signed a document to establish a joint venture: PT Pertamina Rosneft Processing and Petrochemicals (PRPP).
— Antara

Minister prods tax office to assess wealth of Setya’s lawyer
Finance Minister Sri Mulyani has suggested that tax officers might want to look into the wealth of Fredrich Yunadi, the lawyer of graft suspect Setya Novanto, after the lawyer revealed his expensive shopping habits in a TV interview.
— The Jakarta Post

Bank BRI Partners with Bukalapak to Boost Digital Economy
Indonesia is on track to become one of the digital economic giants in Southeast Asia.
— Netral News

KAI is Still the Investor of Jabodebek Light Rail Transit Project
In an effort to accelerate the construction of Light Rail Transit (LRT) project in Jakarta, Bogor, Depok, and Bekasi or Jabodebek area, Indonesia Minister of Transportation Budi Karya Sumadi has confirmed that state-owned railway company Kereta Api Indonesia (KAI) is still the investor of this project.
— Netral News

PLN Unit and UAE’s Masdar Plan World’s Largest Floating Solar Plant in Indonesia
Pembangkitan Jawa Bali, a unit of state-owned power utility Perusahaan Listrik Negara, agreed with United Arab Emirates company Abu Dhabi Future Energy, or Masdar, on Tuesday (28/11) to develop what they said could become the world’s largest floating photovoltaic plant.
— JakartaGlobe

World Bank Report on Indonesian Migrant Workers
A new World Bank report, entitled “Indonesia’s Global Workers: Juggling Opportunities & Risks”, discusses the attractive opportunities for Indonesian workers to decide to migrate and work abroad.
— Indonesia Investment

Jasa Armada Offers 1.7 Billion Shares to Public, Priced at IDR325-530
PT Jasa Armada Indonesia Tbk (JAI) is planning to enter the capital market through initial public offering (IPO).
— Netral News

GDP Venture-backed Blibli acquires Tiket’s sister company Indonesia Flight, an Indonesian e-commerce site backed by Djarum-affiliated GDP Venture, has acquired online travel agent Indonesia Flight for an undisclosed amount to support, according to a report by Tech in Asia today.
— DealStreetAsia

Investment in Indonesian tech start-ups reaches $3bn year-to-date
Indonesia’s tech start-ups have been catching the eye of investors, having raised close to $3bn in funding in the year to September 13, a substantial increase on the $631m received in 2016.
— Oxford Business Group

Public Works Ministry Teams Up With Army to Complete Trans-Papua Highway
The Ministry of Public Works and Housing has teamed up with the Indonesian Military’s Army Corps of Engineers to complete construction of the 4,330-kilometer Trans-Papua Highway by 2019.
— JakartaGlobe


Feature photo ILO/A. Azhari

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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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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