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Wed, 29 Jul 2015
Jokowi to Singapore businesses: The early bird catches the worm
NOW would be the best time for Singapore businesses to invest in Indonesia if they want to profit big, as Southeast Asia's largest nation has seen a major transfer of power and confronts a commodity slump and global headwinds, says Indonesian President Joko Widodo.
Wed, 29 Jul 2015
Indonesia lauds Singapore investment commitment
Jakarta (ANTARA News) - President Joko Widodo (Jokowi) hailed Singapores commitment to encouraging investment in Indonesia and hoped for more, especially in the fields of infrastructure and integrated industrial zones like Batam, Bintan and Karimun.
Wed, 29 Jul 2015
SE Asian consumers switch to ecommerce
Economies across Southeast Asia have endured weaker growth this year. But one sector is powering ahead nevertheless: ecommerce. A surge in internet penetration has encouraged a raft of start-ups across the region.
Wed, 29 Jul 2015
Thermax setting up 3 plants, one in Indonesia
Thermax is setting up three manufacturing plants — two in India and one overseas. Meher Pudumjee, chairperson, Thermax, said they will be setting up an investment subsidiary in Singapore, through which it will invest in a manufacturing plant in Indonesia, which will become the regional...
Wed, 29 Jul 2015
What will Indonesia look like?
I have lived in Jakarta for quite a while now. I guess I was always naive and thought that Indonesia would be like Singapore; blossoming into a Western liberal democracy. But the pixels are starting to come together and form a totally different picture.
Tue, 28 Jul 2015
Best time to invest in Indonesia is now, says President Joko Widodo
SINGAPORE - Indonesia is at the end of a commodities boom and in the midst of a "cyclical downturn", but investors who brave uncertainty and venture early into the country will "reap great profit", Indonesian President Joko Widodo said on Tuesday.
Tue, 28 Jul 2015
Insight: Making Freeport Indonesia more Indonesian
If we look deeper into the context of PT Freeport Indonesia’s contract amendment, it is related to the issuance of the 2009 Mining Law. The law obliges mining companies to process their mining products in this country before exporting them, but Freeport had been in operation and was bound by a...
Tue, 28 Jul 2015
Singapore, Indonesia reaffirm commitment to strengthen ties
SINGAPORE: Singapore's Prime Minister Lee Hsien Loong and Indonesia's President Joko Widodo on Tuesday (Jul 28) reaffirmed their commitment to strengthen ties between both countries. Mr Widodo is on his first official visit to Singapore, since taking office in October last year.
Tue, 28 Jul 2015
Industrial estate development may take longer than planned
Indonesia’s ambition to massively develop industrial estates across the country may take longer than expected as it is hampered by inadequate infrastructure and vast geographical distances, an industrial official says.
Tue, 28 Jul 2015
Widodo wants China to build Indonesia into Asia production base
Indonesian president Joko Widodo expressed on Monday his hope that China will build Indonesia into an Asian production base with ever increasing economic cooperation between the two countries. Widodo made his statement during a meeting with the visiting chairman of the National Committee of the...
Tue, 28 Jul 2015
Investment up despite slowdown
Realized investments showed a significant increase in the first half of this year as foreign direct investment (FDI) continued flowing into the country’s despite the global economic slowdown, according to the government’s latest investment figures.
Fri, 24 Jul 2015
Jakarta raises import taxes for more than 1,000 items
With the economy slowing and retail sales falling, Indonesia yesterday raised import tariffs on more than a thousand items covering many consumer goods such as clothes, food and cars. The decision is likely to make some Indonesians shift to having coffee at a local shop over Starbucks and drive...
Thu, 23 Jul 2015
Palm Oil Is In Everything -- And It's Destroying Southeast Asia's Forests
It was late evening. The skies were dark and dogs were howling. Into the Nyaru Menteng Orangutan Rescue Center on the island of Borneo rushed a rescue worker cradling a tiny bundle in his arms. He handed over the precious package to the manager on duty.
Mon, 20 Jul 2015
Defying illegal status, Indonesia's motorcycle taxis ply roads of Jakarta
JAKARTA: Manoeuvring through rush hour traffic in a city which has some of the world's worst traffic jams is a challenge for millions of residents living in Jakarta. So companies offering transport services to the public via smartphone applications are a welcome alternative.
Mon, 20 Jul 2015
Indonesia tops region's FDI despite sluggish growth
As Southeast Asian nations count down to the formation of an integrated economic community later this year, foreign direct investment (FDI) inflows remain high in anticipation of more business opportunities.
Mon, 20 Jul 2015
Indonesian construction works delayed
"Delays: A general view of Jakarta’s mass rapid transit construction site on a busy street in Jakarta. Investors hoping for President Jokowi to speed up infrastructure works have been disappointed by delays.
Sat, 18 Jul 2015
Indonesia to fall short on tax revenue targets
Indonesia is set to miss ambitious tax revenue targets this year, according to the country’s finance minister, as the new government comes under pressure to raise public spending and revive growth in Southeast Asia’s largest economy. The administration will undershoot its Rp1,294tn ($96.
Sat, 18 Jul 2015
Indonesia online commerce to touch $25b by 2016
Indonesia online commerce could be be worth Rp300 trillion ($25 billion) by 2016, almost three times that the online shopping market in 2013 which was worth $8 billion. This was revealed in a joint report released by idEA, Google Indonesia, and Taylor Nelson Sofres (TNS).
Fri, 17 Jul 2015
Indonesia's central bank says rupiah is slightly undervalued
Indonesia's rupiah currency is slightly weaker than it should be, the central bank governor said on Friday. "At this time the rupiah is slightly undervalued," Governor Agus Martowardojo told reporters, adding that the central bank "will always be in the market but we are not maintaining the rupiah...
Fri, 17 Jul 2015
Indonesia Water Purifiers Market Forecast and Opportunities
Research and Markets (http://www.researchandmarkets.com/research/hg4z7f/indonesia_water) has announced the addition of the "Indonesia Water Purifiers Market Forecast and Opportunities, 2020" report to their offering.
Tue, 14 Jul 2015
Carmakers struggle amid Indonesian sales slump
Japanese automakers are sticking to their targets in Indonesia in defiance of the longest sales decline in six years, resorting to steep discounts to entice tight-spending consumers into showrooms that remain stubbornly empty.
Tue, 14 Jul 2015
Indonesia cuts live cattle imports
Live exporters are surprised by Indonesia's decision to dramatically cut imports of Australian cattle. Indonesia will only allow 50,000 head of cattle between July and September this year, down from 250,000 the previous quarter.
Mon, 13 Jul 2015
Indonesia’s Property Market Seen Going Through Same Maturation Cycle as China’s
Jakarta. The property market in Indonesia may go through the same cycle as in China, which has entered a mature phase where developers see sales bottoming out, increased competition, and more rapid consolidation, Standard & Poor’s Ratings Services said in a report.
Mon, 13 Jul 2015
Fire at Soekarno-Hatta Airport Cost Garuda Indonesia Rp 8.5b
Jakarta. National flag air carrier Garuda Indonesia lost Rp 8.5 billion ($638,600) due to flight cancellations caused by a fire at Soekarno-Hatta International Airport last week, according to a top executive at the airline.
Sun, 12 Jul 2015
Indonesia’s flip-flop policies
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.
Sun, 12 Jul 2015
Are the Balinese Being Marginalized?
In a front page report published in the Bali Post on domination of the Island’s tourism business by non-Balinese and titled “Bali is Left the Task of Protecting Culture,” saw prominent members of the local community voice their concerns and disappointment with the current state how Bali is...
Sun, 12 Jul 2015
A nightmare in paradise
Many Australians, thinking they had circumvented Indonesia's ban on foreigners owning freehold land, have signed illegal nominee deals. The story sounds Kafkaesque. Susi Johnston has lost everything; her beloved husband, their $3 million Bali home, the peaceful retirement she had planned.
Sat, 11 Jul 2015
Survey suggests top ministers on chopping block
Amid speculation that a Cabinet reshuffle is imminent, a public opinion poll has revealed that ministers handling law and the economy received the lowest approval ratings as the public is worried about the country’s slumping economy and law enforcement.
Fri, 10 Jul 2015
Creative economy body to give more push to start-ups
Amid mushrooming digital startup companies in the country, Creative Economy Agency (Bekraf) head Triawan Munaf said that the agency was planning to hold a startup incubation program next year to accelerate the growth and replicate success of startups.
Fri, 10 Jul 2015
Jakarta urges China's central bank to buy Indonesian bonds
Indonesia has asked China's central bank to start purchasing Indonesian bonds as part of an effort to attract more long-term investors to Southeast Asia's largest economy, a senior government official said on Friday.
Thu, 09 Jul 2015
Start Singapore: Crowdo enters Indonesia market
Home-grown crowdfunding portal Crowdo has expanded to Indonesia to offer peer-to-peer lending to businesses there. Crowdo will use its platform to match Indonesian investors with companies there which need loans for working capital. Borrowers repay the principal sum with interest.
Thu, 09 Jul 2015
Indonesia to Strengthen Market Buffers
Indonesia knows more than most Asian nations what global market ructions can do, having borne the brunt of the Asian financial crisis and the 2013 taper tantrum. The world’s fourth most-populous nation is now strengthening its defenses as contagion risk looms from Greece to China.
Thu, 09 Jul 2015
Uber and Gojek just the start of disruptive innovation in Indonesia
People in Indonesia’s capital Jakarta, where public transport is poor and the traffic horribly congested, have eagerly welcomed ride-hailing apps such as Uber for car rides and Gojek for motorcycle rides.
Thu, 09 Jul 2015
Indoneian government ready to face economic challenges: President Jokowi
Jakarta (ANTARA News) - The government is ready to meet fundamental economic challenges that the country is facing right now, President Joko Widodo (Jokowi) stated here on Thursday. "We are currently facing fundamental economic challenges, but the government is prepared for it," he remarked during...
Thu, 09 Jul 2015
Indonesian adtech company Adskom raises undisclosed Series A
JAKARTA-based programmatic advertising company Adskom said it has raised Series A funding of an undisclosed amount, led by Japan’s supply side platform (SSP) and advertising network Geniee. The two other firms participating in the round were Convergence Ventures from Indonesia, and existing...
Thu, 09 Jul 2015
Uber wants to be a technology firm in Indonesia
Uber Technologies says it is working to establish itself as a technology company in Indonesia to avoid legal hurdles. Source: AP Uber Technologies says it is working to establish itself as a technology company in Indonesia, to avoid legal hurdles after police launched an investigation into the...
Wed, 08 Jul 2015
This foreign VC just snuck into Indonesia and is setting up an accelerator
A couple of weeks ago Tech in Asia raised US$4 million from a group of international investors. One of them was Marvelstone, a name you may never have heard of if you’re based in Indonesia. Marvelstone is a venture capital firm that claims to have a strong presence in Korea, Singapore, and Hong...
Wed, 08 Jul 2015
No More Flip Flops, Indonesia President Tells Under-Fire Cabinet
The flip flops have to stop. That’s the order handed down by Indonesian President Joko Widodo to ministers and top officials following several policy U-turns that are denting investor confidence in Southeast Asia’s largest economy, said Sri Adiningsih, the head of the president’s advisory...
Wed, 08 Jul 2015
Indonesian furniture ecommerce site Fabelio bags seed funding led by 500 Startups
Indonesian furniture startup Fabelio, which launched in early June, announced earlier today that it closed a seed funding round of US$500,000 from a group of investors. The round was led by 500 Startups, and followed by KK Fund, IMJ Investment Partners, and two angel investors; Sandeep Tandon,...
Tue, 07 Jul 2015
Eat, Program, Love: The rise of tech startups in Bali
Instead of unwinding in the tropical paradise of Bali, entrepreneurs are opting to plug into the island's emerging tech startup scene because of a thriving startup ecosystem, low overheads and, of course, the allure of the beautiful surroundings.
Tue, 07 Jul 2015
Philip Morris to cut stake in Indonesian unit, could raise over $1 billion: sources
JAKARTA/SINGAPORE (NEWS.GNOM.ES) – U.S. cigarette giant Philip Morris International Inc plans to sell a stake worth at least $1 billion in Indonesian unit PT HM Sampoerna Tbk to comply with free-float rules, two people familiar with the matter said on Monday. Philip Morris currently owns 98.
Tue, 07 Jul 2015
Economic slowdown in indonesia will be temporary: ADB
Jakarta (ANTARA News) - The Asian Development Bank (ADB) believes that the economic slowdown in Indonesia will be temporary, as expansion of government spending will restore growth to five percent by the year-end.
Tue, 07 Jul 2015
Government tightens grip on imports to cut dwelling time
The government has stepped up its efforts to reduce dwelling times at ports by implementing stricter importation procedures. Under a recently issued Trade Ministry Regulation, all importers have to possess an importer identification number (API) and those who buy restricted goods must secure import...
Tue, 07 Jul 2015
Many studies on Indonesia do not build capacity
A purview of many international studies regarding Indonesia politics and economy is dominated by foreign organzations, consulting companies and NGOs. Simply too many chefs tend to spoil the soup. The amount of studies and reports on Indonesia is enormously redundant at times, filled with...
Mon, 06 Jul 2015
Indonesia’s Bizzy hopes to win where Rocket Internet failed, nabs $2.5M funding
Rocket Internet launched OfficeFab in Indonesia back in late 2012 with the idea that the business supplies ecommerce site would service all of Southeast Asia. Despite some early traction, investor interest tapered off and the service eventually ceased in June 2013.
Mon, 06 Jul 2015
Senior lawyer a 'visionary' leader
When Senior Counsel Lee Eng Beng graduated in 1992 from the National University of Singapore (NUS), he was one of only two graduates who were awarded first-class honours degrees in law. Back then, it was only the second time in 20 years that the law faculty had awarded first-class honours to more...
Mon, 06 Jul 2015
Indonesia to impose coal export tax next month: Govt official
JAKARTA - Indonesia will impose a 1.5 per cent tax on coal exports from next month, government officials said on Monday, in a bid to boost state revenue and keep more of the power station fuel at home. The world's top thermal coal exporter will introduce the tax on Aug.
Mon, 06 Jul 2015
Sarong makers struggling with low Ramadhan demand
Having struggled with weak sales over the past several months, sarong makers in Majalaya district, Bandung regency, West Java, are selling their products below normal price during the Islamic fasting month of Ramadhan to keep up with production costs and avoid total shutdown.
Sat, 04 Jul 2015
The Trouble With Indonesia's Rudderless Economic Policy
News this week that Bank Indonesia will prohibit foreign currencies from being used in domestic transactions in Indonesia further added to analysts’ and investors’ concerns about the country’s fragile economy, and about the economic strategy of President Joko Widodo.
Sat, 04 Jul 2015
Mega data center to open near Jakarta by April 2016
JAKARTA -- Indonesian conglomerate Lippo Group has recently begun construction of a 2,000-sq.-meter data center in the suburbs of Jakarta, targeting companies in the financial and industrial sectors. The business will be run by Graha Teknologi Nusantara, a joint venture between Lippo subsidiary...