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Sat, 23 May 2009
HSBC Completes Acquisition of Indonesia-based Bank Ekonomi for US$607.5 mln in Cash
Sat, 23 May 2009
HSBC Completes Acquisition of Indonesia-based Bank Ekonomi for US$607.5 mln in Cash
(RTTNews) - Financial services firm HSBC Holdings Plc (HBC: News ,HSBA.L: News ) Friday said that it has completed the acquisition of 88.89% of PT Bank Ekonomi Raharja Tbk or Bank Ekonomi, for US$607.5 million in cash through its subsidiary HSBC Asia Pacific Holdings, UK, Ltd.
Sat, 23 May 2009
Electronics Industry Expects Rp 2t Rise in Sales This Year
Despite declining purchasing power, higher sales taxes on electronic goods and falling export demand, the local electronics industry remains optimistic that it can achieve both higher domestic and overseas sales this year, an official said.
Sat, 23 May 2009
Wood Exporter Sumalindo Just Looking to Cut Losses
Aditya WikramaWood products exporter PT Sumalindo Lestari Jaya sees gloomy prospects ahead this year after being hit hard by the global crisis, resulting in falling exports and higher foreign-exchange losses.
Sat, 23 May 2009
Electricity shortage hampers investment in Bali
Ni Komang Erviani , The Jakarta Post , Denpasar The ongoing electricity crisis has hampered both domestic and foreign investments to the tourist island of Bali since the last few years.Tedja Nandi Yasa, vice chairman of the Bali chapter of the Indonesian Chamber of Commerce and Industry (Kadin),...
Fri, 22 May 2009
President asks bizmen to be patient in facing bureaucracy
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono (SBY) asked businessmen to be patient in facing the problems posed by the country`s bureaucracy which had yet to support the business world, saying it still needed to be reformed.
Fri, 22 May 2009
RI`s furniture exports may fall 30 pct this year
Jakarta (ANTARA News) - Indonesia`s furniture exports in 2009 may fall 30 percent from last year`s US$2.65 billion because of global economic slowdown, the Indonesian Association of Furniture and Handicraft Industries (Asmindo) said.
Fri, 22 May 2009
Indonesia’s Yudhoyono eyes 7% growth by 2014 By John Aglionby in Jakarta Published: May 20 2009 16:15 | Last updat
Indonesian President Susilo Bambang Yudhoyono outlined yesterday his domestic agenda for the next five years, predicting that if re-elected later this year Indonesia would record 7 per cent annual economic growth by 2014.
Thu, 21 May 2009
Plantation companies in conflict with villagers
Truckload of problems: A truck transporting palm oil fruit products travels along a road dissecting a plantation in Riau. An increasing number of forest areas nationwide are being converted into palm oil plantations due to a rise in demand for the natural commodity globally.
Thu, 21 May 2009
RI's competitiveness index improves : SBY
Presidential candidate Susilo Bambang Yudhoyono on Wednesday said that the competitiveness index of Indonesia had increased significantly, meaning that the country's products can compete those from overseas.“The country's competitiveness index has improved pretty well.
Thu, 21 May 2009
Transportation minister against limiting imported ships` age to 15 years
Jakarta (ANTARA News) - Transportation Minister Jusman Syafii Djamal has expressed disapproval of an industry ministry plan to gradually ban the importation of used ships older than 15 years starting in 2010.
Wed, 20 May 2009
Pipeline Maintenance To Cut Batam Off Electricity For Three Days
i am indeed in batam! will be back in the big durien on saturday, however, thus avoiding the blackouts.
Wed, 20 May 2009
Pipeline Maintenance To Cut Batam Off Electricity For Three Days
i take it you are in Batam at the moment?
Wed, 20 May 2009
Pipeline Maintenance To Cut Batam Off Electricity For Three Days
TEMPO Interactive, Jakarta: State Electricity Company announced that power supply in Batam, Riau Islands Province to be cut for three days during the maintenance work on the Grissik pipeline.Black out to start on May 23rd to May 25 2009, but the state company said to provide a limited amount of...
Tue, 19 May 2009
Indonesia president tipped for new term on economy
JAKARTA (Reuters) - Indonesian President Susilo Bambang Yudhoyono is a clear favourite to win a second term in office in a July election, helped by the resilient performance of Southeast Asia's largest economy during the global crisis.
Tue, 19 May 2009
RI's e-government market lucrative
The government's efforts to improve transparency and efficiency by applying IT-enabled services is providing a good opportunity for developers to tap deeper into the country's lucrative, but largely undeveloped, e-government market.
Tue, 19 May 2009
Palm oil exports at risk from overseas buyers boycott
Indonesia's palm oil business, already hit by lower prices, risks an overseas buyers boycott, with NGOs saying government plans for huge plantations in Kalimantan may mean big environmental damage.The Indonesian Palm Oil Board (DMSI) said last week that fears about the government's proposed palm...
Mon, 18 May 2009
The Anxieties of Mobility: Migration and tourism in the Indonesian borderlands
Johan A. LindquistHonolulu: University of Hawai‘i Press, 2009, 193pp.ISBN 978-0-8248-3201-8 (hard cover)ISBN 978-0-8248-3315-2 (paperback)The Indonesian island of Batam, just a short boat ride from Singapore, used to be largely deserted.
Sat, 16 May 2009
Govt to discuss incentives for oil plant development
Jakarta (ANTARA News) - The government will discuss three incentive options in an effort to accelerate the development of fuel oil refinery plants, a downstream oil affairs official said.Down Stream Oil Development Director Saryono Hadiwidjojo said in a press release here on Friday that the three...
Sat, 16 May 2009
Perum Pegadaian prepares to go public
State pawn shop operator Perum Pegadaian is set to go public, saying it would prefer Indonesian investors buy its shares over foreign interests.“The Indonesian investors know that many people still live in poverty.
Sat, 16 May 2009
Business Runs in the Family in Indonesia
Family-owned businesses (FOBs), are considered a safe haven in tumultuous times. They appear closely managed, and in Asia, well diversified to outlast a recession. But is this the case in Indonesia?According to the Family Business Review, the main costs of family ownership are the potential to...
Sat, 16 May 2009
Indonesia GDP Grows at Fastest Pace in Southeast Asia
May 15 (Bloomberg) -- Indonesia’s economy grew at the fastest pace in Southeast Asia last quarter as local spending accelerated at its fastest pace since at least 2000, helping the nation fend off the global recession.Gross domestic product expanded 4.
Thu, 14 May 2009
Plenty of interference in RI's telecommunications sector
State-run PT Telkom, Indonesia's largest telecommunication company, recently released this year's first quarter results that suggest a continuing tough operating environment in the telecommunication sector.Revenue was down 2.
Thu, 14 May 2009
Indonesia May Set Up Infrastructure Guarantee Fund
JAKARTA -(Dow Jones)- The Indonesian government may by June set up a guarantee fund as part of ongoing efforts to draw more private investment into infrastructure, a senior government official said Wednesday.
Thu, 14 May 2009
Employers Cry Foul as Government Considers Scrapping Law on Contract Workers
The government is considering ending the controversial contract worker scheme passed in 2003, which has increasingly been used by companies to hire workers outside the boundaries of the country’s tight labor laws that make it almost impossible to fire employees.
Wed, 13 May 2009
Chief Justice urges overhaul of tax tribunal
With biased presiding judges and structurally outside the judicial system, the tax tribunal has become the subject of controversy, and this needs to be immediately resolved, chief justice Harifin Tumpa says.
Wed, 13 May 2009
Carrefour Combats KPPU Allegations
indeed, it is a complete abuse of the intent of the antimonopoly law. it's a clear attempt to intimidate a successful business, and only because it is foreign owned.this whole murky process sends a very negative signal to companies wanting to invest into indonesia.
Wed, 13 May 2009
Carrefour Combats KPPU Allegations
so does this mean that we will look to fine any company who has built their success on providing a better cheaper service?
Wed, 13 May 2009
Carrefour Combats KPPU Allegations
French retailer Carrefour on Tuesday said that it would reject the Business Competition Supervisory Commission’s (KPPU) demand that it change its business practices, challenging the KPPU’s ongoing probe into the company’s alleged monopolistic behavior.
Wed, 13 May 2009
Astra International to expand mining business
Jakarta (ANTARA News) - PT Astra International (ASII) plans to expand further its business in the mining sector because of its good prospects and potential to generate profits in the long term.The company`s chief corporate communication, Arief Istanto, said PT ASII through its subsidiary PT United...
Wed, 13 May 2009
SBY: Don’t Expect Miracles
Despite recent signs of recovery, no one should expect too much from the economy this year, President Susilo Bambang Yudhoyono warned on Wednesday.Some pundits are predicting an impending bottom to the global recession, and with the governments’ fiscal stimulus package taking effect, market...
Tue, 12 May 2009
Faber Castell to increase investment in Indonesia
Indonesian politicians will never have an excuse not to have something to write with.
Tue, 12 May 2009
Government Projects a Boon for Contractors
The government’s big infrastructure-spending plans for this year have resulted in two major contractors digging up increased growth in the first quarter, the firms said on Monday.The first three months saw the country's largest state-owned contractor, PT Wijaya Karya (WIKA), clinch contracts...
Tue, 12 May 2009
Volkswagen To Build a Plant in Indonesia
TEMPO Interactive, Jakarta:German car producer, Volkswagen AG, will build an assembly plant in Indonesia, which will be the basis for market development in Southeast Asia. Volkswagen Passenger Car Council member, Christian Klingler, said the world market tendency showed the importance of...
Tue, 12 May 2009
Faber Castell to increase investment in Indonesia
Jakarta (ANTARA News) - German pencil maker Faber Castell will continue to increase its investment in Indonesia through product diversification.Faber Castell International Indonesia Managing Director Yandramin Halim said Faber Castell had invested tens of millions of US dollars in stages in the...
Mon, 11 May 2009
Airport Train Project to be Taken Over by Government
TEMPO Interactive, Jakarta:Transportation Minister Jusman Syafii Djamal said the Soekarno-Hatta Airport railway construction project will be taken over by the government if the second tender is unsuccessful. So far, he said, only one company has submitted the tender document.
Mon, 11 May 2009
Indonesia takes the lead
THOSE accustomed to regarding Indonesia as a country lagging far behind Malaysia on almost every score should think again. Recent developments, particularly in this country, suggest in two major areas – economic and political – Indonesia is way ahead of Malaysia.
Mon, 11 May 2009
Indonesia still rich in oil, gas reserves
Jakarta (ANTARA News) - Indonesia is still rich in oil and gas reserves so that it remains an attractive place for investment in the oil and gas sector, a company executive said."The oil industry prospect in Indonesia is still very good because it sits on huge oil and gas reserves which have...
Mon, 11 May 2009
Drug Sector Seeks Asean Partners for Production
The domestic pharmaceutical industry is planning to establish foreign-owned factories here to produce raw materials for medication, by cooperating with drug makers from member countries of the Association of Southeast Nations (Asean).
Sat, 09 May 2009
Indonesia biodiesel firms await subsidy, fair prices
JAKARTA (Reuters) - Indonesia's palm-based biodiesel firms, which have mostly stopped operations, are awaiting a fair price formula and government subsidies to survive as they feel the pinch of surging palm oil prices, an industry official said.
Sat, 09 May 2009
Indonesia still rich in oil, gas reserves
Jakarta (ANTARA News) - Indonesia is still rich in oil and gas reserves so that it remains an attractive place for investment in the oil and gas sector, a company executive said."The oil industry prospect in Indonesia is still very good because it sits on huge oil and gas reserves which have...
Fri, 08 May 2009
Arcelor Mittal $8 billion Indonesian deal goes sour
We rarely write about Indonesia in the Eye on Asia blog, and when we do, it’s usually prompted by bad news. Well, today’s posting will continue in that tradition I’m afraid, because there have been two unfortunate developments so far this week: the arrest of the country’s head of...
Fri, 08 May 2009
Foreign investors willing to test Indonesian climate
Waiting for new foreign investment announcements in Indonesia is like waiting for a London bus. Nothing comes for ages and then a flood arrives.This week France’s Eramet and Mitsubishi of Japan announced a $4.6bn nickel project in Indonesia with Antam, a local company.
Fri, 08 May 2009
Indonesia Expects $16.6B Investment in Oil, Gas
Asia Pulse Pte LtdIndonesian President Susilo Bambang Yudhohono said the government has set itself the target of attracting US$16.6 billion in investment in the oil and gas sector this year."Investment in Indonesia is still attractive to business players.
Fri, 08 May 2009
Bolstering oil investment
The 12 new oil and natural gas mining contracts awarded by the Indonesian government on Tuesday should be confidence-building deals for the country’s hydrocarbon industry at a time when the global credit crunch and sharp economic downturn have forced many oil firms to defer investment.
Fri, 08 May 2009
Rise of New Plant Strains Stunted by Law, Industry Says
The Indonesian Seed Producers Association, or Asbenindo, wants the government to amend the law on the commercial distribution of seeds of newly developed horticultural varieties, arguing that its onerous requirements hamper innovation.
Thu, 07 May 2009
President: oil, gas sector still promising
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono, said in Jakarta Monday the oil and gas sector in Indonesia is still very prospective even against the background of a global crisis."The sector contributes 21 pct of Indonesia`s exports, and 32 pct of the government`s total...
Thu, 07 May 2009
Inco: construction of nickel plant in Pomalaa not feasible
Makassar (ANTARA News) - PT International Nickel Indonesia (PT Inco) Tbk said the construction of a nickel processing plant in Pomalaa, Southeast Sulawesi had been declared economically unfeasible.Under our commitment to the government, the report to that effect had been submitted to the government...
Thu, 07 May 2009
Volkswagen to Open Indonesia Plant
Volkswagen AG plans to open a new assembly plant in Indonesia with an initial investment of 35 million euros, or about $47 million, a sign that the Southeast Asian nation's still-robust consumer spending is keeping it attractive to foreign companies.
Thu, 07 May 2009
Two More Palm Oil Firms Get Green OK
Another two local oil palm plantation companies - PT London Sumatra Plantation and PT Hindoli - have secured environmental certification from the Roundtable on Sustainable Palm Oil.This means three of the 10 major palm oil producers in the country have now received the RSPO stamp of approval.