Up to 1,200 people could lose their jobs following the announcement that a Japan-based electronics manufacturer plans to close its plant in Batam, Riau Islands, in April. The management of PT Panasonic Shikoku Electronics Batam said it would close down the plant because production costs there were too high, which meant its products were not competitive with those of rival overseas companies. “Our products are considered too expensive compared with the competition.

Bali Land Owners Unprepared to Surrender Land Needed for Simpang Siur Underpass Project. The Regent of Badung A.A. Gde Agung has admitted to the Bali Post that the planned underpass at the Simpang Siur intersection in Kuta is being held up by disagreements with local land owners refusing to surrender the property parcels needed for the construction to commence.

In the midst of calls for a moratorium on new hotel construction in Bali, PT Intiwhiz has commenced construction of a 135-room hotel on Jalan Kartika Plaza in Kuta. The property will operate under the brand Grand Whiz. Bisnis Bali reports that the President Director and CEO of PT Intiwhiz, Moerdjianto Soesilo Tjahjono, laid the cornerstone of the hotel on Monday. December 27, 2010. The property occupies a 2,035 square meter plot with a total investment of Rp. 65 billion (US$7.2 million).

Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono said he agreed and liked pragmatism in dealing with economic affairs based on principles of nationalism. "We are called on to be pragmatic. I like pragmatism," he said when opening trading at the Jakarta Stock Exchange here on Monday. He said economic pragmatism is one of the characteristics of an adaptive nation. A country has to be adaptive towards global economic development to increase the welfare of its people, he said.

Jakarta (ANTARA News) - China has been reported to become interested in making an investment in ports in Papua. "On January 5, 2011, a Chinese representative mission will meet the Papua administration in Jayapura," Transportation Minister Freddy Numberi told the press prior to an economic evaluation meeting at the economic coordinating ministry here on Monday. Freddy said China was interested in port projects in Papua and West Papua.

Samarinda, E Kalimantan (ANTARA News) - The Maloy International Port project in East Kutai district needs to be canceled in view of the many reefs which have to be removed, a member of the local Legislative Council (DPRD), Syaifuddin said. "The project lacks finances and is not so important for the public.

MINISTER for Trade and Industry Lim Hng Kiang, will be in Jakarta from Monday to Tuesday. He will be attending a ministerial meeting with Indonesian Coordinating Minister for Economic Affairs Hatta Rajasa and other senior officials to discuss the progress of the six joint Economic Working Groups formed after an earlier retreat between Prime Minister Lee Hsien Loong and Indonesian President Susilo Bambang Yudhoyono in May 2010.