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Tue, 20 Nov 2007
Barking up the wrong tree
The antitrust body's questionable ruling against Singapore's Temasek Holdings, its subsidiaries and Telkomsel on Monday just added more evidence of the legal uncertainty that has kept most foreign investors away from Indonesia.
Tue, 20 Nov 2007
Govt. to Privatize Pertamina in 2012: Minister
The JSX has two categories of stocks:1. Those that any investor from any country can purchase2. Those that only Indonesian investor's can purchaseI wonder if they'll put Pertamina in cat. 1. If that's the case and "foreigners" gain a controlling stake, then it could end up being an improvement, but...
Tue, 20 Nov 2007
Bauxite Miner, China Co in Talks to Build Refinery
PT Harita Prima Abadi Mineral, Indonesia's largest bauxite producer by volume, is in talks with a Chinese alumina producer to build an alumina refinery in West Kalimantan, Dow Jones Newswires reported on Tuesday (13/11/07).
Tue, 20 Nov 2007
Govt. to Privatize Pertamina in 2012: Minister
The government plans to privatize oil and gas company PT Pertamina in 2012 via an initial public offering, Minister of State Enterprises Affairs Sofjan Djalil said Tuesday (13/11/07).Starting in December, Pertamina's management will adopt all regulations issued by the government's capital market...
Tue, 20 Nov 2007
Excelcomindo to Spend $650M on 2008 Capex
PT Excelcomindo Pratama plans to spend $650 million on 2008 capital expenditure, which will include development of fiber optic networks and base transmission system across Indonesia, Dow Jones Newswires reported.
Tue, 20 Nov 2007
Taiwan Shoemakers to Relocate
Around 20 Taiwanese footwear companies will move their operations from China to Indonesia with a total investment of $4 billion, an official of the industry ministry said, Asia Pulse reported.Multifarious industries director Nugraha Sukmawidjaya said an extension of anti-dumping sanctions on...
Tue, 20 Nov 2007
Jan-Oct Foreign Investment Doubles
Foreign direct investment (FDI) doubled in the first ten months from the same period a year ago, partly due to strong investment in sectors such as telecoms and transportation, the state investment agency (BKPM) said on Tuesday, Reuters reported.Actual foreign investment rose 103% to $9.
Tue, 20 Nov 2007
Govt. to Push Spending
In a week in which the Central Bureau of Statistics (BPS) reported third-quarter growth of 6.5%, the finance ministry said the government will push funds into the economy in the final quarter to further boost economic activity.
Mon, 19 Nov 2007
Indonesia`s Bakrie to invest US$11.1 bln on major infrastructure projects
Jakarta (ANTARA News/Asia Pulse) - PT Bakrie & Brothers (B&B)(JSX:BNBR) said it will invest Rp100 trillion (US$11.1 billion) up to 2011 in major projects including oil and gas pipeline, power generating, toll road and telecommunication projects.
Mon, 19 Nov 2007
Legal certainty
Letter to the editor, published by The Jakara Post:Legal certaintyI am the manager of the SE Asian division of a large international retail corporation, currently staying in Bali. This is my ninth time to visit Indonesia and I would dearly love to open and do business here.
Mon, 19 Nov 2007
Foreign investors invited to tap Indonesia`s oil fields
What do you guys mean? Is there a load of untapped oil reserves? If so, why can't either the Indons or foreign companies get at it? Too deep/expensive? Too much bureaucracy? or What?
Sun, 18 Nov 2007
'Alternative energy needs incentives'
A package of clear-cut incentives is needed if Indonesia's renewable fuel projects are to become a reality, says a senior executive of the world's third largest energy company, Shell.Shell Hydrogen vice president Duncan Macleod said that it was urgent for the government to provide support in the...
Sun, 18 Nov 2007
Singapore PM urges ASEAN nations to boost economic ties, address environmental woes
SINGAPORE (AP): Southeast Asian countries must together build a cohesive economic community to efficiently compete with China and India, but not at the expense of the environment, Singapore's prime minister said Saturday.
Sun, 18 Nov 2007
Foreign investors invited to tap Indonesia`s oil fields
Denpasar, Bali (ANTARA News) - The Indonesian Geophysicists Association (HAGI) has signed a cooperation agreement with its United States counterpart to encourage foreign investment in Indonesia`s petroleum drilling industry."The two sides signed the agreement on September 22, 2007.
Sun, 18 Nov 2007
Ship Investment Increases in Special Economic Zones
TEMPO Interactive, Batam: Riau Islands Governor, Ismeth Abdullah, said that foreign investment in ships is increasing, especially in special economic zones (SEZs), Batam, Bintan and Karimun.So far the Riau Islands government recorded that investment was US$1 billion.
Fri, 16 Nov 2007
Bali hosts two-day conference on palm oil sustainability
The International Conference on Oil Palm and the Environment (ICOPE) kicked off Thursday at Nusa Dua, Bali, aimed at highlighting environmental sustainability in the palm oil industry.The two-day event is being sponsored by the PT Sinar Mas Agro Resources and Technology (SMART) research institute,...
Fri, 16 Nov 2007
Bakrieland posts Rp 89b net profit
Publicly listed property developer PT Bakrieland Development (Bakrieland) is confident about achieving strong full-year profits after posting a 168 percent rise in net profit in the first nine months compared with a year earlier.President director Hiramsyah S.
Fri, 16 Nov 2007
Economy resilient amid global slowdown
The economy will remain resilient next year despite tough challenges ahead stemming from a predicted slowdown in the global economy as a result of high oil prices and the U.S. subprime mortgage crisis, a World Bank report says."We are projecting 6.
Fri, 16 Nov 2007
RI's export share rises: Report
Indonesia improved its share of world trade last year thanks largely to a surge in the prices of the country's main commodities, according to the latest report from the World Trade Organization (WTO).The country's share of total global exports increased to 0.9 percent from 0.
Fri, 16 Nov 2007
Indonesia's economy expands 6.5 percent in 3rd quarter, fastest since Asian crisis
JAKARTA (AP): Indonesia's economy expanded a faster-than-expected 6.5 percent in the third quarter from a year ago, the government said Thursday, its strongest quarter of growth since the Asian financial crisis 10 years ago.
Fri, 16 Nov 2007
Indonesia central bank says weak rupiah temporary
Jakarta (ANTARA News) - Indonesia's central bank sees the weakening of the rupiah currency as temporary and caused by external factors as the country's economic indicators are positive, a Bank Indonesia deputy governor said on Friday.
Fri, 16 Nov 2007
Dwindling Indonesia palm oil stocks may lift prices
Kuala Lumpur (ANTARA News) - Palm oil reserves in Indonesia, the world's top producer, are at their lowest in years on surging overseas sales, raising concerns prices will rise further, a senior government official said on Thursday.
Fri, 16 Nov 2007
Taiwanese firms on the hunt for local partners
Twelve information and communications technology (ICT) firms from Taiwan are looking for local agents to sell and distribute their products in Indonesia."We have met a number of potential distributors that hopefully will team up with us, besides the one we already have," FSP Technology's sales...
Fri, 16 Nov 2007
The President should directly lead bureaucratic reform
JAKARTA (JP): Gorontalo's bureaucratic and administrative staff receive up to 400 percent of their basic salary in incentives -- as long asthey meet or surpass performance targets, Governor Fadel Muhammad said.
Fri, 16 Nov 2007
Singapore Property Dominated by Indonesians
TEMPO Interactive, Jakarta: Investors from Indonesia are still dominating property ownership in Singapore where Indonesians own around 22 percent of foreign property.Based on data from the Singapore' Urban Redevelopment Authority (URA) and Savills Research Consultancy, during the first semester of...
Fri, 16 Nov 2007
By Early 2009 All Regions Connected to Internet
TEMPO Interactive, Kuta: Information and Communication Minister M. Nuh has promised that Internet access will be ready to be enjoyed by all the general public by the first quarter of 2009 at the latest so that education can be accessed regardless of limitations.
Fri, 16 Nov 2007
Indonesian corruption body overwhelmed with cases
Jakarta (ANTARA News) - Indonesia's Corruption Eradication Commission (KPK) has received tens of thousands of reports of suspected corruption since 2003 but has resolved just a tiny fraction of them, an official said Wednesday.
Fri, 16 Nov 2007
Greenpeace blocks CPO tanker in Dumai waters
Pekanbaru (ANTARA News) - Greenpeace activists on Thursday afternoon blocked the path of a tanker loaded with crude palm oil (CPO) in the Dumai waters, Riau, on its way to an export destination.The tanker, MT Westama, loaded with 30,000 tons of CPO, was leaving Dumai port when it was intercepted by...
Fri, 16 Nov 2007
Indonesian economy seen up 6.4 pct in 2008 on higher investment - World Bank
Jakarta (ANTARA News) - The Indonesian economy is expected to grow by 6.4 percent in 2008 from an estimated 6.3 percent this year, supported by higher investment and vibrant domestic demand, the World Bank said Thursday.
Fri, 16 Nov 2007
President asks agriculture minister to diversify food
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono has urged Agriculture Minister Anton Apriyantono and governors to diversify food."The diversification is aimed at reducing Indonesia`s dependence on rice as a source of carbohydrate," the president said when awarding letters of appreciation...
Fri, 16 Nov 2007
RI no longer net oil importer in 2008 : expert
Jakarta (ANTARA News) - Economic Coordinating Ministry senior adviser M Ikhsan predicted that Indonesia would no longer be a net oil importer in 2008 because of increased oil production capacity and economization of domestic fuel oil.
Thu, 15 Nov 2007
Indonesian Investment Climate
Extracted from East Asia Update report from World Bank http://siteresources.worldbank.org/INTEA...ate-Nov2007.pdfIndonesian Investment ClimateThe last six months have witnessed a pick-up in themomentum of growth.
Thu, 15 Nov 2007
Indocomtech 2007 aiming for big sales
Indocomtech 2007, the biggest computer exhibition to take place in Jakarta this year, opened Wednesday with the organizing committee saying it hoped to triple sales revenue compared with last year.Over 300 participants are taking part in the expo, which runs from Nov.
Thu, 15 Nov 2007
New year to ring in lower cell phone charges
Indonesia's mobile-phone tariffs, now among the highest in Asia, are expected to fall by between 20 percent and 30 percent in the new year, with the coming into effect of new tariff regulations.Heru Sutadi, spokesperson for the Indonesian Telecommunications Regulatory Body (BRTI), said Wednesday...
Thu, 15 Nov 2007
VP wants revision of govt regulation hampering flat development
Jakarta (ANTARA News) - Vice President Jusuf Kalla has proposed the revision of Government Regulation No 6/2006 on management of central and regional government-owned property to support the government`s program to accelerate development of flats, a cabinet minister said.
Thu, 15 Nov 2007
President: govt-facilities, collusion-based businesses no longer popular
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono said the era where businesses thrived on governmental facilities and collusive dealings was now over."The era of government-facilities-oriented and collusion-based business has passed," he said when opening the seventh national conference...
Wed, 14 Nov 2007
Money market: Why the rupiah is reversing on a one-way street
Helmi Arman, EconomistThe U.S. dollar has weakened over a broad range of currencies except the rupiah. Increased uncertainty over fuel subsidies may be to blame.The dollar has to weaken. That's the view one finds in almost all corners of the market nowadays.The dollar bears do have a point.
Wed, 14 Nov 2007
Indonesians top foreign buyers in Singapore apartment market
Indonesians led the foreign purchasers of apartments in Singapore during the first semester of this year, beating other major foreign buyers such as Malaysians and Indians.Data released by Singapore's Urban Redevelopment Authority (URA) shows that during the first half of this year, Indonesians...
Wed, 14 Nov 2007
Equality before the law also applies in bribery
A senior prosecutor must bribe his own colleagues with Rp 40 million (US$4,400) to get his son a job with the prosecutor's office? Where is their esprit de corps? Why aren't they satisfied just extorting ordinary people?"You must remember that all people are equal before the law," my son said when...
Wed, 14 Nov 2007
Ericsson's Future Investment to Focus on Multimedia
TEMPO Interactive, Jakarta: The focus of Ericsson's future investment in Indonesia will be addressed to multimedia.This is because the growth of third generation (3G) cellular telephone customers in Indonesia is predicted to continue increasing until 2012.
Wed, 14 Nov 2007
Indonesia has 150 oil fields
Denpasar, Bali (ANTARA News) - Indonesia has a total of 150 oil fields, but only 58 fields are in production process with production of around 900,000 up to one million barrels per day.The remaining 92 oil fields are in the process of exploration with a high failure rate, Chairman of the Oil...
Wed, 14 Nov 2007
Govt plans red-carpet treatment for investors
NUSA DUA, Bali (JP): Having steered its new Investment Law through parliament, the government's next step will be to lay out the red carpet for local and international investors by easing the bureaucratic obstacles to doing business in Indonesia.
Tue, 13 Nov 2007
XL installs new backbone network
Thank fuck for that. What with Fast Net and this, surfing in Indonesia is finally getting up to speed.
Tue, 13 Nov 2007
Minister wants diversified trade with Australia
Trade Minister Mari Elka Pangestu called on Indonesian and Australian businesses to diversify the types of goods and services traded between the two countries as their governments take soundings on the establishment of a free trade agreement.
Tue, 13 Nov 2007
XL installs new backbone network
PT Exelcomindo Pratama officially launched Monday a new submarine fiber optic cable network linking Batam with Johor, which gives the country's third largest mobile operator the largest telecoms backbone network in the country.
Tue, 13 Nov 2007
Investors still waiting
The Investment Coordinating Board (BKPM) has reported steady and sharp increases in new foreign investment approvals amid persistently negative perceptions among foreign businesspeople and analysts of Indonesia's investment climate.
Tue, 13 Nov 2007
Indonesian investment at record levels
Jakarta (ANTARA News) - Investment in Indonesia during the first 10 months of the year rose 113 percent from a year ago to a record 114.70 trillion rupiah (12.5 billion dollars), an official said Tuesday.
Tue, 13 Nov 2007
Legal certainty, stability create trust in the antitrust commission
Since its establishment in June 2000, the Indonesian Business Competition Supervisory Commission (KPPU) has issued a long list of rulings. The binding rulings, which are weakly enforced, are often protested against by companies found guilty by the commission of committing monopolistic practices.
Tue, 13 Nov 2007
US$2.5 Trillion Funds Flood Developing Country Markets
TEMPO Interactive, Jakarta: Lim Say Boon, Chief Investment of Strategist Standard Chartered Bank, said that investors’ funds that came from developed countries amounting to US$2.5 trillion have flooded the financial markets of developing countries since the subprime mortgage crisis and world oil...
Tue, 13 Nov 2007
Electronics Component Firm Eyes Expansion
Batam-based electronics component maker PT Sat Nusapersada plans to build a new factory and acquire stakes in two other companies next year to expand its operations and meet growing demand for its products, The Jakarta Post reported.