Sun, 12 Jul 2015
Indonesian politicians have done it again: flip-flopping on their policies, something that Malaysian corporations with investments in industries there, such as banking and plantations, have had to deal with before.

This time, it is with regards to the airline industry, where a stern rule was declared by ministry officials only recently requiring all airlines operating there to beef up their shareholders’ funds to move them into positive territory from negative. A deadline of July 31, 2015 was given. AirAsia Bhd’s 49% unit PT Indonesia Air Asia (IAA) requires an injection of some 3,535 billion rupiah to reverse its negative equity position. Alas, days after saying that, the officials decided to soften their stance, saying they would “help and support” these firms instead, looking to now assist, support and nurse all the airlines until their equity positions improve. Perhaps, suggestions that thousands of jobs would be lost as would foreign investments into the country influenced the softening of their stance.

But it turns out that there have been even more policy U-turns in recent times, placing pressure on Indonesian President Joko Widodo to do something about it.

Jokowi, as he is better known, had taken office in October pledging to spur an economy growing at its slowest pace in more than five years.

And Jokowi seems to have acted. According to some reports, he has directed his ministers and top officials to stop all policy U-turns. A Cabinet reshuffle is also reportedly in the offing. Recently, his Government announced and then scrapped policies, including a language test for expats, a toll road tax and a ban on Government officials meeting in hotels. Will it stop?

That’s hard to tell. For some investors, though, that is just the nature of the game in Indonesia. In other words, that’s the business risk one has to live with if you want to tap into the world’s fourth most populous country.



News Search/Filter
Transaction Rates
21 Sep 18
Buy
Sell
AED1
3,921.30
3,921.30
AFN1
190.07
190.07
ALL1
133.31
133.31
AMD1
29.85
29.85
ANG1
7,803.77
7,803.77
AOA1
50.02
50.02
ARS1
377.00
377.00
AUD1
10,494.30
10,494.30
AWG1
8,002.06
8,002.06
AZN1
8,460.31
8,460.31
BAM1
8,628.63
8,628.63
BBD1
7,201.83
7,201.83
BDT1
171.50
171.50
BGN1
8,659.80
8,659.80
BHD1
38,201.08
38,201.08
BIF1
8.12
8.12
BMD1
14,403.67
14,403.67
BND1
9,536.54
9,536.54
BOB1
2,083.70
2,083.70
BRL1
3,532.64
3,532.64
BSD1
14,403.67
14,403.67
BTC1
94,218,143
94,218,143
BTN1
199.94
199.94
BWP1
1,347.59
1,347.59
BYN1
6,912.37
6,912.37
BZD1
7,163.16
7,163.16
CAD1
11,157.14
11,157.14
CDF1
8.81
8.81
CHF1
15,020.91
15,020.91
CLF1
616,068.39
616,068.39
CLP1
21.59
21.59
CNH1
2,106.88
2,106.88
CNY1
2,103.80
2,103.80
COP1
4.77
4.77
CRC1
24.87
24.87
CUC1
14,403.67
14,403.67
CUP1
564.85
564.85
CVE1
152.70
152.70
CZK1
663.62
663.62
DJF1
80.89
80.89
DKK1
2,274.38
2,274.38
DOP1
288.09
288.09
DZD1
122.60
122.60
EGP1
804.18
804.18
ERN1
960.43
960.43
ETB1
519.01
519.01
EUR1
16,962.48
16,962.48
FJD1
6,791.14
6,791.14
FKP1
19,113.92
19,113.92
GBP1
19,113.92
19,113.92
GEL1
5,886.28
5,886.28
GGP1
19,113.92
19,113.92
GHS1
2,968.86
2,968.86
GIP1
19,113.92
19,113.92
GMD1
296.17
296.17
GNF1
1.58
1.58
GTQ1
1,873.54
1,873.54
GYD1
68.92
68.92
HKD1
1,836.51
1,836.51
HNL1
599.15
599.15
HRK1
2,283.97
2,283.97
HTG1
207.17
207.17
HUF1
52.43
52.43
IDR1
1.00
1.00
ILS1
4,032.65
4,032.65
IMP1
19,113.92
19,113.92
INR1
200.81
200.81
IQD1
12.07
12.07
IRR1
0.33
0.33
ISK1
131.06
131.06
JEP1
19,113.92
19,113.92
JMD1
105.81
105.81
JOD1
20,301.08
20,301.08
JPY1
128.04
128.04
KES1
142.89
142.89
KGS1
211.39
211.39
KHR1
3.51
3.51
KMF1
34.33
34.33
KPW1
16.00
16.00
KRW1
12.89
12.89
KWD1
47,600.83
47,600.83
KYD1
17,276.52
17,276.52
KZT1
40.40
40.40
LAK1
1.69
1.69
LBP1
9.51
9.51
LKR1
85.33
85.33
LRD1
93.07
93.07
LSL1
993.35
993.35
LYD1
10,444.25
10,444.25
MAD1
1,539.75
1,539.75
MDL1
855.28
855.28
MGA1
4.21
4.21
MKD1
275.44
275.44
MMK1
8.92
8.92
MNT1
5.89
5.89
MOP1
1,782.08
1,782.08
MRO1
40.34
40.34
MRU1
402.33
402.33
MUR1
419.93
419.93
MVR1
935.30
935.30
MWK1
19.81
19.81
MXN1
764.09
764.09
MYR1
3,480.32
3,480.32
MZN1
236.90
236.90
NAD1
993.87
993.87
NGN1
39.68
39.68
NIO1
448.38
448.38
NOK1
1,767.73
1,767.73
NPR1
124.96
124.96
NZD1
9,622.66
9,622.66
OMR1
37,410.89
37,410.89
PAB1
14,403.67
14,403.67
PEN1
4,366.28
4,366.28
PGK1
4,331.57
4,331.57
PHP1
266.31
266.31
PKR1
116.68
116.68
PLN1
3,953.21
3,953.21
PYG1
2.45
2.45
QAR1
3,955.87
3,955.87
RON1
3,644.72
3,644.72
RSD1
143.54
143.54
RUB1
217.02
217.02
RWF1
16.45
16.45
SAR1
3,840.52
3,840.52
SBD1
1,825.76
1,825.76
SCR1
1,058.69
1,058.69
SDG1
799.88
799.88
SEK1
1,641.73
1,641.73
SGD1
10,552.37
10,552.37
SHP1
19,113.92
19,113.92
SLL1
1.71
1.71
SOS1
24.89
24.89
SRD1
1,931.30
1,931.30
SSP1
110.57
110.57
STD1
0.68
0.68
STN1
686.21
686.21
SVC1
1,645.47
1,645.47
SYP1
27.96
27.96
SZL1
993.71
993.71
THB1
445.10
445.10
TJS1
1,527.62
1,527.62
TMT1
4,103.63
4,103.63
TND1
5,214.59
5,214.59
TOP1
6,233.90
6,233.90
TRY1
2,314.61
2,314.61
TTD1
2,136.23
2,136.23
TWD1
468.78
468.78
TZS1
6.31
6.31
UAH1
513.20
513.20
UGX1
3.76
3.76
USD1
14,403.67
14,403.67
UYU1
434.96
434.96
UZS1
1.79
1.79
VEF1
0.05
0.05
VND1
0.62
0.62
VUV1
132.75
132.75
WST1
5,564.41
5,564.41
XAF1
25.85
25.85
XAG1
206,433.12
206,433.12
XAU1
17,390,916.87
17,390,916.87
XCD1
5,329.66
5,329.66
XDR1
20,216.93
20,216.93
XOF1
25.85
25.85
XPD1
15,179,983.43
15,179,983.43
XPF1
142.14
142.14
XPT1
12,019,793.44
12,019,793.44
YER1
57.52
57.52
ZAR1
1,006.36
1,006.36
ZMW1
1,258.06
1,258.06
ZWL1
44.68
44.68
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services