Virtually all of this airport project has been run out of Jakarta. The NTB provincial govt and Central Lombok regency are really small fish. I don't doubt that they had their hand out for both the airport and the Emaar project, but they don't hold much power on these big projects. They are poor as church mice. I have to laugh when I hear Emaar is accusing Indonesia of corruption. That's the pot calling the kettle black.

TEMPO Interactive, Jakarta:Businessmen from the Indonesian Furniture and Handicraft Industry Association are greatly disappointed at the lack of government support in promoting and marketing furniture products. The association chairman, Ambar Tjahyono, said the lack of support was evident during the International Furniture and Craft Fair Indonesia at the Jakarta International Expo Kemayoran, held on March 11 to 15.

TEMPO Interactive, Jakarta:Mineral, Coal, and Geothermal director-general, Bambang Setiawan, is aiming to produce five drafts on 28 guidelines to complement the Mineral and Coal Law by 2010. He said the drafts cover mining areas, mineral and coal businesses, mining regulations and supervision, as well as issues on reclamation and post-mining operations. The regulations will specify the domestic market obligation of mining companies.

“Corruption in international megaprojects is commonplace in our country, especially on the part of local government officials,” he said. “Middle Eastern investors will have a problem with that.” Although that wasn't BAE's experience in Saudi?

Thanks K3C, understood and thanks again for a very timely post. This stuff is all pretty confusing for non legal types. It's already taken me months to get to some level of understanding and I still can't decide what to do! I guess I am still concerned about being separated from my hard-earned cash!

Originally Posted By: chewwyUK what is happening to the revision that will allow foreign ownership of property?? nothing. that's just the usual annual beat-up from the english language media. you may quote me: "it won't happen" what *may* happen, at some time in the future, is that foreigners will be permitted to buy strata title apartments. this is being pushed very hard by interests in jakarta who have huges stocks of unsaleable apartments they need to offload to avoid financial ruin.

what is happening to the revision that will allow foreign ownership of property??

Nice one. An important story wihich our "Elites" will now try to explain away as being due to Emaars own financial problems? In fact that's already starting I see. After all, it never is the fault of anyone in Indonesia, is it!

Originally Posted By: Dontpanic Any Company, Indonesian or foreign capital, can only own land with HGB title. correct. this is direct ownership, where the land title is in the name of the company. this is generally the preferred option for long-term ownership. Quote: You suggested in an earlier post that a PMA should become the beneficial owner in a nominee structure. So I'd appreciate your clarification of what nominee/beneficiary structure you meant?

The Jakarta Post doesn't seem to covering any of this?

Janeman Latul Emaar: Just the Start? The announcement that Dubai’s state-owned Emaar Properties PJSC has pulled the plug on a $600 million property project on Lombok Island may be a signal of worse to come, business players and analysts said on Sunday . It has, however, also emerged that Emaar is facing serious financial difficulties at home and is hurriedly canceling projects around the globe.

Thanks for the clarification but now I'm even more confused. Any Company, Indonesian or foreign capital, can only own land with HGB title. You suggested in an earlier post that a PMA should become the beneficial owner in a nominee structure. So I'd appreciate your clarification of what nominee/beneficiary structure you meant?

"HGB atas Hak Milik"?! i dont think so! that is compeltely impossible. you may mean "Hak Pakai atas Hak Milik", which is very common in bali, and not very useful, in my opinion. it's really no more than a long term lease. in relation to villa operations in bali specifically by PMAs, this is certainly still possible, however now requires 50% indonesian equity.

Thanks for that, very helpful as I'm in the process of trying to secure a small pied a terre in Bali at present. As this was explained to me by my lawyer in Jakarta, it was very common in Bali until recently to set up a PMA with the sole intention of buying a property. The net result was that there were thousand of holiday villas around Bali being rented out without paying any taxes and reducing the tax take from the hotels. This explains why the practise was clamped down on.

The Jakarta Post, Bogor, West Java Betting on higher prices for top commodities and the emergence of new markets, the country’s plantation industry is seeking to buck the trend and expects export values this year to increase by 16 percent. “We believe we can raise our income from exports to US$21.68 billion from last year’s $18.85 billion.

The Agriculture Ministry has proposed Rp 145 billion (US$12.18 million) this year from the stimulus package to boost the competitiveness of the country’s meat, milk and dairy businesses against foreign competitors, ministry officials said Saturday. (JP/J. Adiguna)Milking it all the way: A farmer milks a cow at his farm near Jl. Mampang Prapatan, South Jakarta, in this June 19, 2008, file photo.

Most of the funding (about 75%) for the Lombok International Airport is (supposed to be) coming from Angkasa Pura (the state-owned firm that runs airports) and the rest from the NTB provincial govt and Central Lombok regional govt.

To be known as the "Bridge to nowhere" International airport, conveniently located 2 hours away from existing tourism infrastructure in Senggigi? The commissions for the boys on this project must have been really juicy? In terms of ROI, wouldn't the completion of the Jakarta our ring road, now about 20 years late, have been a more sensible option?

Originally Posted By: Jungle George Wrong, the airport was started before Emaar entered the picture The whole Emaar development area is just a takeover of the area previously held by Bambang Tri's LTDC, which had been doing its land grabbing and development planning since before the new airport was started.

Well we'll see. It looked to be well under construction when I passed it at Xmas. However, economic depression and all that. Work may well grind to a halt. Not much point building it if the Ay-rab resorts don't materialise is there?

Originally Posted By: chewwyUK "Rainy Hendriany: The legal options remain largely unchanged except that the route of ownership of a single residential property investment via a foreign-investment or PMA company many no longer be available" Any comments kuku?? this is only partially true in the case of bali. but this is not a legal problem, but rather a political one. legally, PMAs can indeed own property of any sort.

"Rainy Hendriany: The legal options remain largely unchanged except that the route of ownership of a single residential property investment via a foreign-investment or PMA company many no longer be available" Any comments kuku??