Indonesia Morning News For February 22

Indonesia to revise tax incentives in bid to lift investment
Indonesia will revise its tax incentives and offer them to a larger number of business sectors, in a bid to attract more investment, the finance minister said.
— The Straits Times

Indonesian Ministries and Agencies to Start Using Credit Cards to Pay for Expenses
The Indonesian government will start using credit cards to buy goods and pay for travel expenses to simplify spending, Finance Minister Sri Mulyani Indrawati said on Tuesday (21/02).
— JakartaGlobe

Muslims’ morals in doubt in graft-riddled Indonesia
Zumi Zola, the governor of Indonesia’s Jambi province, became the latest senior official to be named a suspect by the country’s Corruption Eradication Commission (KPK) on Feb. 2.
— UCA News

Indonesian solar panel producer Sky Energy taps IPO route to raise $6.8m
Indonesia’s solar panel producer Sky Energy will be looking to raise up to Rp 91.5 billion ($6.8 million) through an initial public offering on the Indonesian Stock Exchange (IDX), after the company disclosed that it will offer 203,256 or equivalent to around 20 per cent of its deposited capital.
— DealStreetAsia

IPO can prevent polemics at family companies
Transparency is one of the reasons why family companies are often reluctant to go public through the initial public offering (IPO) while in fact IPO can prevent polemics regarding share ownership at family companies.
— Antara

Gov’t to Impose Excise Tax on Plastic Bags in July
The government plans to impose an excise tax on plastic bags this year in an effort to cut down plastic use and diversify excise revenue, an official said on Tuesday (20/02).
— JakartaGlobe

SOE Minister Assigns Independent Consultant to Evaluate Construction Projects by SOEs
Minister of State-Owned Enterprises (SOE) Rini Soemarno as the representative of government shareholder in SOE will assign independent consultant to evaluate thoroughly the projects being undertaken by State-Owned Construction Companies.
— Netral News

8 Foreign Companies Ready to Go Public, IDX Says
Eight foreign companies have expressed their interest to list their shares at the Indonesia Stock Exchange (IDX).
— Tempo

Govt, state-owned lenders cooperate on transparent spending
The Finance Ministry’s Directorate General of the Treasury signed on Wednesday a cooperation agreement with the Association of State-Owned Banks (Himbara) to allow government working units to use credit cards for their expenses as part of an effort to improve transparency in the bureaucracy.
— The Jakarta Post

Indonesian rupiah-denominated debt to qualify for Bloomberg’s Global Aggregate Index
BLOOMBERG on Wednesday announced changes to its Bloomberg Barclays fixed income indices, which included making Indonesian rupiah-denominated debt eligible for the Global Aggregate Index.
— Business Times

E-commerce Task Force Overwhelmed by Large Number of Cases
The Police`s Criminal Investigation Department (Bareskrim) cybercrime team stated that there are two ways for consumers to report cases of online scams.
— Tempo

BTN, Generali introduce insurance product for mortgage customers
State-owned lender PT Bank Tabungan Negara (BTN) and insurance company PT Generali Indonesia launched on Wednesday an insurance product for mortgage customers.
— The Jakarta Post

Mitsubishi Motors Has New Strategy to Face 2018 Market
PT Mitsubishi Motors Krama Yudha Sales Indonesia (MMKSI) successfully increased its market share in the passenger and light commercial segments in 2017, one of them through the presence Mitsubishi Xpander.
— Netral News

Vale’s nickel production fell slightly in 2017
Publicly listed nickel miner PT Vale Indonesia, a local subsidiary of Brazilian mining giant Vale SA, saw its production fall slightly last year to 76,807 metric tons of nickel in matte from the 77,581 metric tons it booked in 2016.
— The Jakarta Post

Jokowi’s Sea Toll Road Program Marred by Rent Seekers: Study
Large logistics companies have been exploiting the government’s sea toll program at the expense of small businesses, which have to pay logistical costs considerable higher than what the program intended, a study by Maritime Research Institute Nusantara showed.
— JakartaGlobe

Rash of forest fires breaks out in Indonesia
Indonesia was battling a rash of forest fires today as it raised an alert over the blazes which occur every year and emit choking smog that can envelop neighbouring Singapore and Malaysia.
— Business Standard

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