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Tue, 26 Feb 2008
Kajima to step up urban development business
Kajima Corp. plans to expand its urban development project in Jakarta, starting with the construction of a large office building, Nikkei reported Tuesday (19/2/08). The general contractor completed a large office building on Monday, and already plans to begin constructing a similar-sized office...
Tue, 26 Feb 2008
Jakarta plans $393M rail link to airport
Jakarta plans to build a Rp3.6 trillion ($393 million) railway system linking Soekarno-Hatta Airport in Banten province with the capital to cope with growing passenger traffic, the Straits Times reported Monday (18/2/08). Targeted to be ready next year, the railway will stretch along 33.
Tue, 26 Feb 2008
Indosat goes all-out to expand network
JAKARTA (JP): The country's second-largest telecom company, PTIndosat, is to issue bonds worth a total of Rp 1.5 trillion(around US$163 million) to support its expansion drive.The company is also seeking another $400 million in externalfunding in the form of bank loans or global bonds.
Tue, 26 Feb 2008
Electricity Crisis to Last Until 2009
TEMPO Interactive, JakartaMonday, 25 February, 2008 | 15:06 WIBPT PLN (the State Electricity Company) is predicting that Indonesia will experience an electricity crisis up until next year.The state-owned company, according to Muljo Adji, PLN's Manager of Load and Distribution Center, is currently...
Mon, 25 Feb 2008
Governments must promote earning of livelihoods
Whether or not the retail operations of large corporations will have a negative impact on small traders is a debatable point. However, it is beyond debate that the most significant threats to small traders come from government obstruction, corrupt public officials, and poor infrastructure.
Mon, 25 Feb 2008
Gates Seeks Closer Ties With Indonesia
JAKARTA, Indonesia (Map, News) - The United States is working to broaden its ties with Indonesia as the island nation emerges as a leader in the Asia-Pacific region, U.S. officials said Monday as Defense Secretary Robert Gates arrived here.
Mon, 25 Feb 2008
Singapore`s Temasek Holdings may sell BII stake - report
Singapore (ANTARA News) - Singapore's Temasek Holdings Pte Ltd may decide to sell its stake in Bank International Indonesia (BII), Indonesia's sixth-largest bank, instead of merging it with PT Bank Danamon Indonesia, the Asian Wall Street Journal reported Monday, citing unnamed sources.
Mon, 25 Feb 2008
Jakarta to provide US$2.2 bln for railway infrastructure
Jakarta (ANTARA News/Asia Pulse) - The Indonesian government plans to provide Rp20 trillion (US$2.2 billion) to build infrastructure for railway mass transport under the state-owned railway company PT Kereta Api in the next four years.
Mon, 25 Feb 2008
The informal sector: Jakarta's survival strategy
What a BS. Paying Rp10.000 for lunch from street vendor can cost you Rp10M in expenses following costly treatment of Typhoid. Beside, these people don't pay taxes thus, they are no benefit to the Indonesian economy, just a cost because they use and abuse all the facilities.
Mon, 25 Feb 2008
Tax office aims to boost number of taxpayers
JAKARTA (JP): Indonesia has huge untapped tax potential with lessthan 3 percent of the nation's 220 million people in possessionof tax identification numbers (NPWP), a tax office official saidover the weekend.
Mon, 25 Feb 2008
Lampung imports pedigree cows worth US$116.5 million
Bandarlampung (ANTARA News) - Lampung imported pedigree cows worth US$116.5 million from Australia in 2007 in an effort to increase its cow population, an industry official said.Lampung Industry Service Head Suparmo said here on Saturday, with US$116.
Mon, 25 Feb 2008
Govt allocates Rp7.2 trillion for sugar mill revitalization
Yogyakarta (ANTARA News) - The government has allocated Rp7.2 trillion to revitalize around 52 sugar mills across Indonesia, Indonesian Sugar Experts Association (IAGI) chairman Bambang Prijono Basoeki said here on Saturday.
Sat, 23 Feb 2008
HSBC readies $250m in personal loans
Agustina Wayansari, The Jakarta Post, JakartaWith the retail banking potential still relatively untapped here, HSBC Indonesia says it will stay focused on developing its retail division."We target to disburse around US$250 million in personal loans this year, more than triple last year's total of...
Sat, 23 Feb 2008
Lippo Cikarang plans to boost revenue growth by more than 40%
PT Lippo Cikarang, a publicly listed property developer that manages 3,000 hectares of land in Cikarang, West Java, plans to gradually construct and sell around 800 new houses and several industrial clusters this year to boost its revenue.
Sat, 23 Feb 2008
Mobile-8 announces near double revenue, expansion
CDMA-based cellular network operator PT Mobile-8 Telecom announced Friday its customer base had increased by 65 percent in 2007, almost doubling its revenue.By the end of last year, the company's subscribers numbered slightly more than 3 million, up from about 1.
Sat, 23 Feb 2008
The informal sector: Jakarta's survival strategy
People in Jakarta and other big cities have been, for some time, very familiar with news reports of street vendors being "kicked-out" (often literally) from places where they run micro-scale businesses such as selling foods, soft drinks, snacks and so on.
Sat, 23 Feb 2008
Toyota controls 33.2% of car market in Indonesia
Jakarta (ANTARA News) - PT Toyota Astra Motor (TAM) controlled 33.2 percent of car sales in Indonesia in January 2008 with a sale volume of 13,751 units, while two of its products -- Innova and Avanza -- were granted the top brand award.
Sat, 23 Feb 2008
Malang Government Cooperates with Japanese Telecommunication Company
See what I told you - Malang will become the new seat of power, Jakarte a throbbing intellectual hub my arse, JATIM is where its at, and not only that, JATIM bules are much more refined and sophisticated unlike some of the rough hair arsed bin scrappers found frequenting expat haunts like EP.
Sat, 23 Feb 2008
Malang Government Cooperates with Japanese Telecommunication Company
Friday, 22 February, 2008 | 17:49 WIBTEMPO Interactive, Jakarta: The Malang Municipal Government once again is cooperating with NTT Advance Technology Corporation, a telecommunication company in the information technology sector of Japan.
Fri, 22 Feb 2008
Workers, employers set up dispute forum
An alliance of entrepreneurs and workers groups has established a bipartite forum to help settle industrial labor disputes and problems.The establishment of the forum would effectively end an existing similar forum, called the tripartite forum, which incorporates the government, the alliances said...
Thu, 21 Feb 2008
Company directors face trial over pirated software
Police have completed an investigation of three companies in Serpong district, Tangerang, accused of using pirated computer software."The directors of the three companies will soon stand trial as the cases are now in the hands of the prosecutors," Serpong Police chief Adj. Insp.
Thu, 21 Feb 2008
BNI expects 40 percent growth in housing loans on property boom
Bank Negara Indonesia (BNI), the nation's third largest lender, is this year targeting a 40 percent increase in housing loans, the largest contributor to its consumer lending growth.BNI general manager for consumer loans Diah Sulistianto said Wednesday the target was based on estimated strong...
Thu, 21 Feb 2008
Analysts see no de-industrialization
Despite slower growth in some business sub-sectors, Indonesia is not suffering from "de-industrialization", with manufacturing continuing to play a significant and stable role in the economy, a seminar heard Wednesday.
Thu, 21 Feb 2008
Kadin slams govt's new electricity tax plan
Ika Krismantari and Agustina Wayansari, The Jakarta Post, Jakartahe government's plan to charge value-added tax for the use of electricity beyond 1,300 watts has been criticized, with one group calling the decision borne of political interests.
Wed, 20 Feb 2008
Port congestion threatens upcoming shipping rules overhaul
Port infrastructure deficiencies must be quickly addressed before cabotage, a revision to cargo shipping procedures, is implemented.Congestion continues to mar Tanjung Priok Port, Indonesia's largest international trade port, in northeast Jakarta.
Wed, 20 Feb 2008
Impact of slowdown in U.S. uncertain
The extent to which Indonesia is going to be affected by a U.S.-led global economic downturn remains uncertain and difficult to forecast, a discussion among top economists showed in Jakarta on Tuesday.At a discussion hosted by the Centre for Strategic and International Studies, University of...
Wed, 20 Feb 2008
Dairi Prima to invest $180m
Despite unresolved permit problems, PT Dairi Prima Mineral, a local unit of Australian-based zinc and lead producer Herald Resources, said Tuesday it planned to spend US$180 million for initial exploration activities at its North Sumatra mine.
Wed, 20 Feb 2008
SBY orders Pertamina to gear up for Natuna block
Rendi Akhmad Witular and Ika Krismantari, The Jakarta Post, JakartaPresident Susilo Bambang Yudhoyono on Tuesday instructed state oil and gas company Pertamina to prepare to take over the development of the gas-rich Natuna block from U.S. energy giant ExxonMobil Corp.
Wed, 20 Feb 2008
Labor law mostly to blame for outsourcing, says Apindo
The rigidity of the 2003 Labor Act, particularly its severance provisions, has forced entrepreneurs to use outsourcing, a panelist told a seminar on Tuesday.Chairman of the Indonesian Employers Association (Apindo) Sofjan Wanandi said the hefty severance payments stipulated by the law burdened...
Wed, 20 Feb 2008
Bali still main destination of Australian tourists
Denpasar, Bali (ANTARA News) - Bali appears to have remained a main destination for Australians as the number of Australian tourists visiting Bali is only second to that of Japanese tourists, a local statistical official said.
Tue, 19 Feb 2008
Kadin slams audit agency's demand for more power
The Indonesian Chamber of Commerce and Industry (Kadin) announced Monday its opposition to the Supreme Audit Agency's (BPK) demand for greater authority in probing the state's tax revenue.The BPK is currently in court for a judicial review on the law on general rules and procedures of taxation.
Tue, 19 Feb 2008
Property Broker’s Business Ineffective in Indonesia
Tuesday, 19 February, 2008 | 15:16 WIBTEMPO Interactive, Jakarta: Property brokers generally in Indonesia are ineffective as a result of the property agent’s turnover level. A professional property broker, Tonny Eddy, said that this was caused by the instability of the property broker system...
Tue, 19 Feb 2008
PT Astra International January car sales up 38 pct
Jakarta (ANTARA News/Thomson Financial) - Indonesian conglomerate PT Astra International's January car sales rose 38 percent from a year before, led by sales of its mainstay Toyota models, data released Tuesday by the Indonesian Automotive Industries Association show.
Tue, 19 Feb 2008
President asks Pertamina to operate Natuna oil block
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono has asked state oil company PT Pertamina to be ready to exploit natural gas reserves in the Block D Alpha Natuna area in Riau Islands province.
Tue, 19 Feb 2008
State cement companies being encouraged to increase production
Jakarta (ANTARA News) - The government is encouraging state-owned cement companies to increase their production capacities to keep up with domestic demand which is growing by seven percent per year and expected to reach 60 million tons in 2013, a minister said.
Tue, 19 Feb 2008
RI's total industry output slowed down last year
The Jakarta Post, JakartaThe growth of the country's overall industry output slowed last year to 5.15 percent from 5.27 percent in 2006, far below the government's target of 6.31 percent, the government said.
Tue, 19 Feb 2008
Australia ready to invest $4b in Indonesia's mining
Australia's Senior Trade Commissioner Rod Morehouse said Monday that Australian firms were prepared to invest more than US$4 billion in Indonesia's mining industry."Australia has more than US$4 billion waiting to be invested," Morehouse told a press conference on the first day of the Ozmine...
Tue, 19 Feb 2008
'Miracle' growth need more firms, businessmen
Indonesia should nurture the growth of companies as well as entrepreneurs as they could contribute to "miracle" growth in the future, a noted economist said Monday.Speaking at a ceremony inducting him as a professor of economics at Prasetiya Mulya business school, where he is also executive...
Mon, 18 Feb 2008
Govt seeks to revise oil and gas contracts
JAKARTA (JP): With soaring oil prices, which translate into higher revenues for oil producing firms, the government said it would attempt to renegotiate contracts with oil and gas operators in the country.
Mon, 18 Feb 2008
Indonesia, Finland to intensify trade, investment cooperation
Jakarta (ANTARA News) - Indonesian President Susilo Bambang Yudhoyono and his visitng Finnish counterpart, Tarja Halonen, have agreed to intensify bilateral cooperation in the trade and investment sectors which has so far remained low."We have agreed to intensify trade and investment cooperation.
Mon, 18 Feb 2008
Foreign Institutions Lower Indonesia's Economic Projection
Monday, 18 February, 2008 | 17:25 WIBTEMPO Interactive, Jakarta: Several international financial institutions are predicting that Indonesia's economy this year will only grow 6.2 percent, much lower than the initial target in the 2008 state Budget of 6.8 percent.
Mon, 18 Feb 2008
Japan interested in Yapen Waropen`s seaweed
Jayapura (ANTARA News) - Japanese investors are interested in seaweed from Yapen Waropen district, Papua province, and expected to import the commodity to that country in the near future, a local official has said.
Mon, 18 Feb 2008
Credit card transactions up, along with non-performing loans
While the total value of credit card transactions in the country has significantly increased in the last two years, the amount of credit card nonperforming loans (NPLs) has also arisen, reports Bank Indonesia (BI).As of November 2007, credit card NPLs amounted to Rp 2.87 trillion (US$309.
Mon, 18 Feb 2008
Economy in 'no better shape' than pre-crisis
The Jakarta Post, JakartaMore than ten years after the financial crisis which led to costly restructuring and reform, Indonesia's economy is no better off, according to experts.In some cases, the economy is in even worse shape.In a public lecture, University of Indonesia economist Faisal H.
Mon, 18 Feb 2008
Govt. considers IPO for pawnbroker
The government is considering turning the country's state-owned pawnbroker into a limited company ahead of a possible partial privatization, the Financial Times reported Monday (11/2/08). Some 23 million Indonesians used Pegadaian last year to take out Rp23,300 billion ($2.
Mon, 18 Feb 2008
GDP expands at fastest pace in a decade
The nation expanded at the fastest pace in 10 years as declining borrowing costs encouraged companies to invest and spurred consumer spending, Bloomberg reported Friday (15/2/08). Gross domestic product (GDP) of the $364 billion economy grew 6.
Mon, 18 Feb 2008
Aceh conflict over coffee
Members of the Gayo ethnic group in the highlands of Aceh say they are annoyed by the insistence of a Dutch company that they cannot use the name of their area and people for their coffee. According to a report inThe Sydney Morning Herald, thousands of former rebels and sympathizers are being...
Mon, 18 Feb 2008
Building the Bali Nusa Raya Highway
Ambitious Road Project Part of a Giant Aceh to Eastern Indonesia Trans National Highway Project.Bali News: Building the Bali Nusa Raya Highway(2/16/2008) The National Road Building Agency for Indonesia's 8th District will soon begin realizing the construction and upgrading of 3,000 kilometers of...
Mon, 18 Feb 2008
Call for 50% Reduction in Hotel & Restaurant Tax.
Bagus Discovery Tour's Owner Says Lower Taxes Would Raise More Money for Island's Public Coffers.Bali News: Call for 50% Reduction in Hotel & Restaurant Tax.(2/17/2008) Commenting in a page-one article in BisnisBali, the Secretary General of the Bali Hotel and Restaurant Association (PHRI-Bali) and...
Mon, 18 Feb 2008
Bali Tourism Investments Dominated by Hotels and Resorts
Provincial Investment Board Gives Green Light to New Hotels Despite Objections by Tourism Board and Governor.Bisnis Bali estimates that the value of new investments in hotels and recreational facilities in Bali for the period January – November 2007 reached Rp. 1.4 trillion (US$152.