PT evergreen issues Rp 10 trillion to cover the debt

PT evergreen invesco tbk plans to issue Rp 10 trillion new shares raising the fund to cover the debt. According to the plan, the raised fund is to pay the debt of PT bumi putera which was bought by pt evergreen invesco last october through its subsidiary PT pacific multi industri(PMI).

Chief executive of the capital market supervisory Bank central Indonesia, nurhaida said that based on document the value right issue reaches Rp 10 trillion meanwhile total of debt of pt bumiputera reaches Rp 30 trillion. However, out of Rp 10 trillion right issue, only RP 4 trillion estimately to be paid to pt bumiputera.

Nurhaid further stated pt evergreen invesco will be given 10days to complete the document including pointing the standby buyers.

BI answers the speculation of excessive money distribution after the new currency release

Tirta segara, executive director of communication department of central bank of indonesia said BI always ensure the need of cash money available in sufficient quantities, appropriate types of fractions and properly fit for circulation. As part of money management, BI will withdraw the old ones and replace with the new currencies regularly in society.

Tirto affirmed that there will be no excessive circulation of money in society since as stipulated in law no 7 of 2011, the destruction of improper circulated money aiming to maintain the quantity thus sufficient with the need of society.

28 companies issue the bond worth Rp21.03 trillion in 2017

There are 28 companies will issue the corporate bond worth Rp 21.03 trillion next year, said salyadi saputra, president director of securities rating indonesia(perfindo), jakarta tuesday 20th december 2016.

Read Financial institution still dominates corporate bonds 79.12% per november

28 companies consists of seven companies in the finance sectors, four companies of property sectors, 2 companies of chemical sectors. and 2 from construction sectors while the rest coming from energy holding company, packaging, manufacture, security, fisheries, consumer goods and business services.

Aside from bonds, there will be RP 79 trillion maturing bond next year and potential of bond issuance Rp 100 trillion. Up to november 2016, bond issuance has reached RP 104.18 trillion and estimately reaching RP 110 trillion by the end of this year. 

3.956 Indonesian cigarette companies are bankrupt since 2008

Suahasil nazara, head of fiscal policy said there were 4.669 cigarette companies operating in indonesia in 2008, yet recently only 713 companies are operating. This means 3.956 cigarette companies have gone bankcrupt, suahasil added, jakarta tuesday december 20th, 2016.

It has been three years the production of cigarettes going flat per year around 340 billion cigarettes. In fact, the crisis of economy affecting the decrease of habit to quit smoking. 

The cigarettes companies also are complaint against the government policies that are not lucrative for the growth of industry starting from the cigarettes tax. It causes the increase of cost thus the cigarette prices are going higher gradually every year making it difficult to be afforded by users. 

Financial institution still dominates corporate bonds 79.12% per november

Data of securities rating of indonesia(Perfindo) released the domination of financial institution of corporate bonds wirth of Rp 82.42 trillion or 79.12% of the total new issuance Rp 104.18 trillion. While the issuance of real sectors is still low until november 2016.

For the period until november 2016, non financial institution or real sectors issued Rp 21.75 trillion only or nearly 20.88% of total new issuance. While from financial sectors banks and finance companies dominate the majority of bond issuance.

President director of Perfindo salyadi saputra stated the low of real sector issuance due to the fact that this sectors prefer to seek loans from banks or financing institutions. However this yyear, bond issuesnace listed the highest record or outstanding in 9 years. The total of new bonds is Rp 104.18 trillion while the outstanding is Rp 313.53 trillion, nevertheless compared to other countries, the bond penetration is still low. Obligation ratio toward bank credit is 7.5% lower than malaysia 47.5%, thailand 14.2% and pHilippines 18.4%.

FSA: Online IPO is not yet ready

The Financial service authority has studied IPO online since the beginning of 2016 but yet it is claimed to be not ready yet, said nurhaida after the meeting of the launch of IT of licensing and registration integrated(SPRINT) sale of shares  on monday, december 19th, 2016 in jakarta. 
Nurhaid claimed not to mention specific percentage of IPO online achievement and call to prepare at first the necessary instrument. 

Nurhaida stated that ipo online is different with sprint. Sprint is a system that integrates the licensing and integration of more than one compartment of FSA while in IPO online despite no interconnection, it can digitally inserted for instance the banks that offers shares on stock exchanges have to apply for license toward banking supervisior and capital market watchdog. 

FSA itself needs to fix the Sprint sustem for 5 interconnection which are license of bonds of financial institution, acquisition, license of LJK and ipo license.

The security of Rupiah is one of the best of the world

Rupiah security is one of the best of the world, said Governor bank of indonesia agus martowardojo stated in jakarta on monday december 19th, 2016. Further agus said, new currencies that are barely released to day has 12 types of security particularly bill of Rp 100.000. 
Agus said the security of rupiah comprises of 5 aspects such as color, yarn and ultraviolet. It also use 3D which can be seen, touched for its recognition original or not. 

The new currencies that are officially release on december 19th, 2016 fully protected to anticipate of counterfeit production of money which is basically one of biggest finance crime of the country. By means of its sophisticated security, the counterfeit currencies will be deferred from its illegal distribution.

The maximal interest rate of card credit will be 2.25% in 2017

The upper limit of credit card interest has been officially to be 2.25% officially begin in 2017, said eni panggabean, head of payment policy and bank supervision department of bank central of indonesia.
Bank indonesia has socialized to bank sectors to adjust their interest at 2.25%  likewise to change their funding structure since there is cost to be borne.

BI expected the maximum limit of 2.25% will encourage the use of credit cards as means for non cash transaction. This in a line with country's framework to use non cash transaction one of which to diminish the act of corruption and ease of transaction for the people. 

According to BI data, the credit card growth is only 2.85% per october 2016 which is 17.22 millions while in october 2015 it was 16.75 millions.

Indonesia economy growth leans much on China

Abra og talattov, an economic research of institute of economics and finance(INDEF) claimed the growth of indonesia economy depending on china. It is because level of dependence of indonesia to china is relatively higher than toward japan and USA. Elasticity of GDP of indonesia to china reaches 0.11% higher than to USA 0.05% and 0.06% to japan. This means tha fall down of one percent china's GDP will affect the downsize of 0.11% of indonesia gross domestic product(GDP).

However, the projection of China economy's growth next year according to IMF only reach 6.2% meanwhile according to World bank will reach 6.5%. On the part of indonesia, china has been the largest target of export other than USA and Japan. In 2005, export to china reaches 18.63 million tons meanwhile in 2015 94.18 million tons. Where as export to USA in 2005 reaches 7.16 million tons and 7.20 million tons in 2015.

PT pupuk Indonesia energi acquired 51% of PT kaltim daya mandiri shares

PT pupuk indonesia energi (PIE) acquired 51% of PT kaltim daya mandiri shares worth of Rp 126.15 billion. PIE is a subsdiary of PT pupuk indonesia, a state owned enterprise meanwhile PT kaltim daya mandiri is a subsidiary of pt kaltim industrial estate. 

Aas asikin, president director of Pupuk indonesia explains the intention to strengthen the synergy among PT pupuk indonesia's subsidiaries to be supplier for other private companies.

"This transaction should develop a family industry Fertilizer Indonesia and KDM. Therefore, we expect that this transaction will provide added value to the parent and KDM," said Director of Pupuk Indonesia Holding Company Aas Asikin, here on Friday.

On the sidelines of the signing of the stock purchase agreement, Aas said that the synergies between the subsidiary fertilizer Indonesia should be able to develop their own energy for Indonesian Fertilizer Group, after it was directed to the expansion of energy supply for other private companies.

"KDM must be larger to be a supplier of energy to Cleaver, Pupuk Iskandar Muda, Pusri, Petro Kimiaga Gresik, so that it can improve the performance of Indonesian Fertilizer Group as a whole," he said.

KDM is a power generation companies which supply the plant Pupuk Kalimantan Timur (PKT), with a capacity of as much as 34 megawatts of electricity KDM, 156 tons of steam per hour, and nitrogen about 500 Nm3 per hour.

Meanwhile, Director of PIE Tentaminarto say, the takeover of a majority stake by PIE is a step shareholders, who want the performance of both companies could increase.

"With a majority in KDM is expected to increase business PIE making a positive impact on the parent company," he said.

He explained that this acquisition into early commencement of business clustering program related to the provision of energy and utilities in Indonesia Pupuk environment, particularly in the industrial area of ​​East Kalimantan.

"Synergy has become a real step to solidify and strengthen the position of Indonesian Fertilizer Group in the field of agrochemical and food," he said.

Clustering business is done to improve the competitiveness of Indonesian Fertilizer Companies Group and to support food security programs initiated by the government.

"Looking ahead, PIE will develop KDM as a pioneer IPP operation and maintenance of gas-based. For us, KDM has a strategic role in improving the PIE consolidated financial performance," he said.

Sri mulyani declined the impact of FED interest rate toward Indonesia

The indonesia finance minister sri  mulyani claimed that the increase benchmark of interest rate the FED will not affect country's economy. This is due to the fact that indonesia maintains its economy growth at rate 5%.
Further she said, the rsik of FED interest rate increase will be halted by the level of deficit budget maintained at rate 2.7% and the government debt to gross domestic product at 28%. It makes indonesia has strong foundation to defer the impact of FED toward its economy.

Indonesia has already prepared steps to anticipate the FED interest rate increase namely issuing government bonds in early of 2015 and two weeks ago at $3.5 billion. This receives positive response from american investors regarding the debt sale of indonesia. 

Anthonius tony prasentiantono, economyst of UGM university considered the fed effect will last only for a short term though the decision of FED causing the new york shares catapulted into its highest point in history. However, it will not maintain in such way because too high will also risk of bubble. 

Commodity improvement pushes the export performance

The highlighted improvement of some commodities according bank central of indonesia pushes the performance of export. head of Economy and monetary policy department of BI juda agung stated some changing of commodity prices makes the export is more competitive in the midst of stagnant demand in the major destinated countries especially the european, china and USA.
Juda underlines the effect of price improvement of commodity is quite significant since october 2016. 

Bank central of indonesia predicted such improvement of export will implies toward the growth of economy in quarter IV 2016. BI in fact sees it optimistically to reach target of 5% on account of major changing of commodity to leverage the value of export. The export sector will play much importance for the economy target aside from consumption and investment which are basically not quite strong to boost the economy.

Iran and Indonesia focuses in energy sector partnership

The visitation of president jokowi to Iran initiating further talk about bilateral of both countries especially in economy sector. The chairman of the investment coordinating board(BKPM) thomas lembong explained that sector energy becomes the main focus cooperation of both countries aside from trade, services and tourism that are showing growth. 

Iran becomes the lucrative business partner of indonesia since the country is included in 29th emerging economy of the world. In indonesia it has some major investment such us refinery in east java and mobile plant construction amounting approximately 5000mw. There are also partnership with indonesia state owned enterprise PLN with iran mapna group in the filed of gas purchasing. As stated previously by president jokowi, indonesia will soon to import the LPG(Gas) from iran as further exection of partnership of both. 

Thomas lembong claimed tha visitation of president to iran will bring a new breeze of iranians investors to partake in some business sector of the country. Based on BKPM data from january to september 2016, realization of iran investment in indonesia is $14.30 million with major sectors are transportation, warehouse and telecommunication.

CRE8 will build largest coworking space of ASEAN in indonesia

CRE8, largest coworking space will build largest coworking space in indonesia located in PIK avenue, north jakarta in the 1200 meters land with in a mall building. It is said that this will be the largest coworking space of asean.

CEO of cre8 serwin soerjadi said that the coworking space witll be the shared wide space offices internationally standard, the largest in indonesia even asean. As being informed, it will be utilized as office for startup business.

Coworking space in PIK will be the place for startup business for mentoring and expected to be insulated with big fund for supporting their business. 

With its presence in the prestigious area of ​​North Jakarta, Erwin says it wants to contribute to improved North Jakarta area and its surroundings. With accommodate entrepreneurs who live in the area in order to have easier access to reach in running the business. Moreover, Erwin looked at this region has considerable business potential.

"Pantai Indah Kapuk a premium area in North Jakarta. To that end, the presence of coworking space CRE8 in PIK Avenue will increasingly add value to this prestigious region. For business people who live in the area of ​​North Jakarta, or who seek a premium location, coworking space CRE8 could be the right choice. Moreover CRE8 PIK is in the biggest shopping center and classy in this region, "said Erwin.

Currently, coworking space CRE8 already present in the Metropolitan Tower Jalan TB. Simatupang, South Jakarta. Comes with the concept of modern, minimalist, coworking space presents a comfortable atmosphere, and quiet, so that clients can focus on work without being disturbed.

Besides being able to focus on the work, the client also feel social environment that makes growing.

"We have a meeting intense, there is a large hall events because there can accommodate hundreds of people. This could be an opportunity to exchange ideas, share experiences, and build business synergies. For more information or to join CRE8 can directly access the website www.cre8 id, "added Erwin.

PT Sawit sumbermas sarana tbk(SSMS) to open two palms oils mills worth Rp 250 billion

PT Sawit sumbermas sarana tbk(SSMS) to open two palms oils mills in 2017 worth Rp 250 billion. After the meeting of general shareholders on wednesday december 13th, 2016 Director of SSMS, vallauthan subraminam said the investment will be prioritized from internal fund. Though subraminam did not explicitly elaborate the the detail of the plan, he also cited another project to run worth of Rp 350 billion. 

SSMS targets to produce 1.2 million tons of palm oil from total of expected 150000 hectares lands. From such quote of production it is estimated the profit will increse 48% if the price is high trend. 

SSMS plans to expand its business also through acquisition in 5 years term to come. 
Majority of palm oli of SSMS is still used for domestic needs meanwhile 30% is aimed for export.

Pertamina uses innovated technology to overcome energy crisis

Pertamina has commitment to increase its production through the use of innovated technology and optimaztion of production. This state owned company is well awared that the increase use of domestic energy in the midst of lower energy production will lead to horrendous energy crisis in the future. 

The senior vice president exploration of pertamina, doddy priambodo in the energy forum of jakarta wednesday december 14th, 2016 claimed that it is a challenge for the company to boost its production as to maintain resilience and energy independence. Doddy added that in the past 8 years pertamina has increased 7% of its production each year to suffice the demand for domestic.It is approached through the use of technology finding new reserves aiming for optimal production. Namely pertamina has made approach through enhanced oil recovery in various field such as in tanjung dan sangasanga in kalimantan.Beside the company implemented sea technology in blok offshore north west java dan block west madura offshore. 

BCBS rates high grades for Indonesia banking performance

BCBS( basel committee on banking supervision) last november gave incredible grade in the assessment program consistency regulation(RCAP) each value of compliant (C) for liquidity coverage ratio(LCR) and largely compliant(LC) for RCAP capital. This is the highest grade given for the category especially compliant grade for  LCR and the second the highest grading LC for RCAP capital category.

Based on this achievement, Indonesia itself prefers to focus on two important points to preserve the incredible reputation of its banking performance,

First, imposition of zero percen risk for government bond dominated in foreign currency while based on basel framework, such exposure is subject to country rating which is 50%.

Second, imposition of risk weight for receivable from employees and retirees with a risk of weight 50%  while based on basel framework is subject to risk weight 75% with a consideration that the bill is a guaranteed bill thus its risk is lower than other bill.

The achivement of indonesia through the grading given by basel is such along process, particularly since 2014 the country struggles to adjust the basel framework with the local regulation. The great reputation of indonesia bank throuh RCAP which is participated by 28 countries provides easiness for the country to pierce its service into international level. Furthermore, it will increase the trust of investor toward the bank and other business instruments.

Rini soemarno denied the accusition of PGE and PLN

The issue of acquisition plan of PGE( geothermal energy of pertamina) and PLN was denied by state owned enterprise minister, rini soemarno. She said the issue of merging both companies is not true, on the contrary, rini stated that PLN is only to have the share in PGE not to merge as being informed by media. 
"it must be clear that there is no acquisition of PGE", rini added in pertamina energy forum in jakarta tuesday, december 13th, 2016.

According to this PDIP party politician, PGE is basically subsidiary of pertamina which engages in geothermal and only intended for electricity. So far, PLN is the only buyer of geothermal  energy of PGE. Though both companies ever quarrelled due to disagreement of prices, the only solution is to allow PLN having shares thus price will not be a problem for both. 

Rini expected, both PLN and pertamina will exert effort to support the growth of PGE as big company.

Singaporean companies engage cartel in indonesian logistic

Allegedly 6 singaporean companies are involved in cartel practice of the logistic costs batam-singapore, said business competition supervisory commission(KPPU).The cartel practice was acknowledged after the fact that cost of logistic from singapore to batam is more expensive than jakarta singapore. This is quite irony since the distance of batam and singapore is closer yet more expensive in term of logistic cost, said chairman of KPPU syarkawi rauf.

To investigate the cartel allegation, KPPU will cooperate with singapore business competition commission and expecting to haste the examination and charge the formal sanction toward the involved companies. 
Furthermore, KPPU asked the senate to amend the law article 5 year 1999 thus KPPU has authority to take action against companies abroad as they involved in non fair competition of business. On the otherhand, KPPU claimed the cartel practice has been transpiring for so long by singaporean companies.

Tax Directorate chases after 8 Richest Indonesian having no Tax payer Identification card

General directorate chases after 8 richest indonesians who have no taxpayer identification card according to forbes. The release of 8 names of wealthy indonesians was responded by general directorate of not knowing clearly the spread names of those who do not have taxpayer identity card.

General directorate of taxation claimed that finance minister sri mulyani did not specifically mention the names of such people in her official statement.
Besides, directorate of taxation is prohibited to postulate the disobedient taxpayers as regulated in article 34 about provision and general procedure of taxation.

However, general directorate of taxation will work on issue to ensure the obedience of taxpayers as mentioned. 

Finally tax amnesty reaches Rp 4000 trillion

The government finally reaches the target of Rp 4000 trillion from tax amnesty in two weaks a head of its second period which ends by december 2016.
Total tax amnesty dominated by within country declared property which reaches Rp 2986 trillion and overseas declared asset reaches RP 988 trillion meanwhile the asset abroad that was able to withdraw in is RP 144 trillion. 

Looking to the movement of tax amnesty in its second stage is considerably slowly compared to first period. There are several factors affecting especially the political situation that seize much focus and energy of government to resolve.
In its first period total reported assets reached Rp 3620 trillion while the main objective of policy is small and medium enterprise.
The success of tax amnesy is much influenced by widespread socialization. Currently government through finance minister focuses on the bankers who prompt to avoid tax obligations. 

Rupiah strength causes the highest closing trading of stock index to day

Rupiah countinues to grow strong in november with estimation of support in 5280 to resistance at 5330, said first asia capital david suyanto. 

This strength of rupiah is predicted to last till 2017. In yesterday's trading, JCI continued its strength and closed at 5300 or strengtehining 38.36 points(0.73percent).

This positive movement of JCI is caused much by diminishing emerging market of which rupiah is emerging against usd dolllar/ 

Yesterday, rupiah strenthened 0.34% toward USD dollar at Rp 13.287. This stimulated the purchase of share for sensitive interest rate such as banking, property, manufacturing and cosntruction service. 

From external factor, helped market sentiment driven china's export in november that showed positive growth after its contraction last month. 

Mandiri and BJB bank released the co-branding E-money

Mandiri and BJB bank released the co-branding E-money
in order to expand the use of electronic money and accelerate the achievement of national non cash flow program. Both banks targets to reach 80 000 e money cards sold in the first five years.


Customer director of BJB bank fermiyanti said that the launching of e money bjb is expected to increase the business performance nationally  particularly the long term growth of bank business. 
The e-money will be sold through bjb branches in west hava province, banten and jakarta especially 33 services office targeted of BJB.

Meanwhile. senior EVP of mandiri bank joseph georgino godong stated the synergy of mandiri bank with regional development banks is one of the strategy to expand the business market. Up to october 2016, manidir bank released 8.4 million of e money with average transaction of Rp 327 billion per month. E-money can be used in 946 merchants with spread outlets 52000 units.

Sri mulyani Reprimanded 150.000 bankers to pay taxes

Sri mulyani reprimanded around 150 000 bankers to pay taxes through the tax amnesty scheme offered. According to this finance minister, only 963 bankers have submitted notification letter to pay taxe both government and commercial banks. Outh of 963 bankers around 215 are from commissioner ranks has not joined the tax amnesty scheme. Besides, there around 410  bank direcors have not participated in tax amnesty. So far the ransom fund obtained from bank commissioners amounting to Rp 1 trillion and of the board directors Rp 273 billion. 

In the event of economy outlook 2017 in jakara friday, december 9th, 2016, this ex world bank managing director said as  a finance minister, I urge bankers to fulfil tax payment. 

Finance minister also asked the bankers association (IBI) to revoke certification of bankers who proved not to join tax amnesty scheme as the explicit commitment of IBI to carry out its function and duty. 
" If ever there are bankers found not to join tax amnesty, I urge IBI to revoke their certification", said sri mulyani

Indonesia Opened Export Import Bank in Bali to Boost Micro Enterprise

The new export import bank is opened in denpasar bali to boost  the export oriented micro and middle enterprise. 

President director of export import bank, ngalim sawega stated that;" Indonesia is committed to perform its role providing export financing with competitive interest rate aiming to facilitate and minimazing export acitivity.

Ngalim further explained the choice of bali for export import bank opening is due to the province's economy stability and large export potential. For 5 consecutive years, bali's gross domestic product(GDP) is always above the national GDP.

It is listed that around 500 companies engaging in export activity amounting $498.7 million. In october 2016, bali's export goods value is $40.5 million or increasing 1.18% for annual basis. 

 Meanwhile there are 5 major commodities involved such as fish and shrimp, jewelry, furniture, home lighting and woods.

The main target of export import bank is to support SME's business sectors. In 2015, indonesia eximp bank has exported products to several products such as cotton fiber to italy, furniture to china, cocopat and fermented cocoa to france. Where as in the third quarter if 2016, there are 3 new exporters which are cassava to england, broom to pakistan and stone flooring to china. 

The choice of bali for export import bank branch on the other hand is in a line with the use of benoa port as the main export port for bali.

China will affect Indonesia economy growth more than USA in 2017

The changing of economy policy of china and USA will affect the stability of indonesia economy in 2017. Minister of national development plan(BAPPENAS) bambang brodjonegoro said the risk will be more coming from china's changing policy based economy from investment to consumption in 2017. China takes the step to anticipate the increase of foreign loans while the extreme policy of USA economy under donald trump will not supersede the risk to affect from china. 

Bappenas overviews the sluggish of china economy in 2017 at rate 6.3% from 6.6% in 2016 will contribute -0.72% to indonesia economy from baseline. This is mostly because china will be more prudent on the increase of debt of government and private sectors on the other hand china its self is the biggest target of trade of indonesia especially commodity sectors.


While USA under trump will release the policy of tax amnesty and protection by applying 34-35 for the trade with china and  mexico. This policy will be project to affect the slowdown of USA economy and globally term thus implying on the indonesia sluggish economy growth.

Indonesia is to replace USD dollar as benchmark measure

President jokowi urged the related institution not to rely too much on USD dollar as the brenchmark measure particularly in term of trade transaction. This ex governor of jakarta also recited Yuan as another measure as the country has alot of bilateral relatinship with china likewise being rational toward the emerging position o
f china as the central player for asia's countries economy. 

Minister of PPN further explain what jokowi means urging the use of yuan as brenchmark measure is more specific in term of trade. According to bambang, it is quite logic not to rely on USD eversince USA is not the biggest trade partner of indonesia.  So far, the biggest partner of trade of indonesia is tiongkok, underlines the reason of president to include yuan as a new measure.

However, according to director of INDEF, didiek j rachbini though the invitation of jokowi is rational but the replacement of USD needs the consensus with other countries especially trade partners in asia and other destinated countries. It takes time not only one or much more decade, he said. 

Total reserves decreases down 3.5 billion USD by the end of november

Bank central of indonesia reported the decrease of reserves by the end of november 2016 amounting $3.5 billion from 115 billion usd in october to $ 111.5 billion in november 2016.

However BI assures that this will be only temporary since the investor is quite confident with the improvement of economy growth and conducive market capital of the state. 

Read also  Growing 14.8%, Indonesia capital market is second the highest of the world

Director of communication department of BI arbonas hutabarat said BI will continue to improve sufficiency of reserves as to maintain stability of economy and finance system. 
The amount of reserves in november is still sufficient to finance 8.5 months of import and for foreign debt. Such amount also is claimed to be above standard of international. 

CIMB niaga bank leads syndicated financing for group

CIMB niaga bank is appointed to lead syndicated financing for synthesis group in the field of environmental friendly energy which are gas fired powerplant in gunung megang mountain owned by pt meppogen.

Cimb niaga allocated RP 1. trillion for pt meppogen to support the expansion of gas fired powe plant from 110 mw to 150 mw. 

It is the commitment of bank to support the program of government in term of environmentally friendly energy sector. 

Growing 14.8%, Indonesia capital market is second the highest of the world

The national condition economy of indonesia is relatively stabil in 2016 of which indicated by the growth of stock composite index price and the strength of rupiah against usd dollar.
Indonesian shares is the second highest of the world meanwhile rupiah is strong against global economy turmoil due to good fundamental economy as the government made series of approach/breakthroughs. As being reviewed good in 2016, indonesia economy will grow better in 2017 said chief economist and investment strategist manulife asset management indonesia katarina setiawan in market review and outlook 2017 in sampoerna strategic square building jakarta, wednesday dec 7th, 2016.

Indonesia capital market performs well this year only placed behind thailand whose growth is 17.62%. According to katarina, the well performing of economy along the year at rate 5.04% becomes the main factor too. It is predicted the economy continues to grow better by 2017.

CEO of Gojek Received Asian of the Year Award

CEO of gojek, makarim nadiem received notorious award from strait times "asian of the year". He becomes the first indonesian to receive the prestigious award since it was held since 2012.
The innovation of application based motorcycle transportation mode for passengers becomes the reason of nadiem recognized by prestigious award of strait times. 

Nadiem himself said the award was obtained along with the commitment of Gojek to improve informal sectors as well as helping daily needs of indonesians by providing the model of business  in the midst of market changing. 
He added, Gojek will push through with the commitment and focus toward the recognition of international award through asian of the year. 

Gojek so far has expanded its business wings into various kinds of business such as go food, go clean and go pay. 

Indonesia fails to catch up with bangladesh and vietnam in term of textile production

Vietnam and bangladesh are recognized to be the greatest textile contributors of the world. Meanwhile indonesia failed to catch up with both these asia neighbor countries in term of textile supply and production, said chairman of indonesia textile association ade sudrajat usman.

The main factors of indonsia in-competitiveness is due to the efficiency of labors of which indonesian employees are relatively higher compared to both countries. Beside the working hours in bangladesh and vietnam is 48 hours per week much more than indonesia whose working hours is only 40 hours per week.

Another barrier is the high prize of gas for textile industry in indonesia which is $12 per mmbtu higher than bangladesh and vietnam which are at rate of $4 per mmbtu and $7 per mmbtu. 

In fact, government through president jokowi has conveyed to reduce the gas industry price including intended for textile factories in order to make the textile product more competitive for european and USA market targets. 

The high price of gas industry so far has affected the high production cost for textile production thus implies the incompetitive price of export with another countries. 

On the other hand, the problem of various taxes toward the textile products is the becoming the complain of the employers. There must be more serious attention of government to boost the growth of textile industry especially in competing with other countries. 

Mandiri Taspen to Invest Rp 200 billion for new branches

PT Bank mandiri taspen pos in 2017 is to invest Rp 200 billion for new branches and the renovation of available branches. There are around 66 branches to open across the country and total expenditure Rp 3 million each branch.

The director of mandiri taspen, nixon napitupulu said that the main objective is to provide the ease of access for the customers. Nevertheless, before the opening of new office branches, the surveys will be taken to the retireds who desire the ease of transaction with mandiri taspen. 

Nixon said through the opening of new branches, mandiri taspen will seek to provide near access of customers. Through this 66  branches to launch, total of office branches across the country is 185, said nixon.

Canada and Hungary Lends Rp 5.65 Trillion for Indonesia Powerplant

Finance Director of PLN( state owned enterprise for electricity) said to have a loan from canada and hungary worth of RP 5.65 trillion to finance the 500 megawatt of powerplant.

The 500mega watt powerplant which is the part of 35000mw plant is financed through the scheme of export credit agency of which export canada development and hungarian export bank contributes $435 million or Rp 5.65 trillion. 
The loan according to PLN is long term alon which will be completed for 12years. The export credit agency is in fact another option of loan portofolio aside from bond market and banking finance scheme. 

he development of Mobile Power Plant itself is spread over 8 locations: Lampung (4X25 MW), Pontianak (4X25 MW), Bangka (2x25 MW), Riau (3x25 MW), Billiton (25 MW), Ampenan (2x25 MW), Paya Pasir (3x25 MW) and 25 MW Nias.

MPP is starting the construction of 500 MW until the operation is managed by a subsidiary of PLN ie PLN Batam. Selection of these locations based on the conditions that still lack electricity supply and also requires additional power supply due to high electricity growth in the area.

Taxi Driver Won Rp 180 million from Stock Trading

The headline of economy column of magazine to day displays the incredible achievement of a tax driver who grab profit of Rp 180 million from trading stock in Indonesia Stock of Exchange(IDEX).

Aab abdullah, taxi driver of company in jakarta shared his experience of saving Rp 3 million in stock trading. He was inspired by the campaign of saving for stock then learning from trading course before deciding to use his Rp 3 million to engage in stock trading. 
After 1.5 years, he grabbed the profit of RP 180 million. Aab said that his secret is only one, when it's green indicator, it is time to sell and when it is red, it is time to hold the stock. 

Aab gainned the profit of Rp 300.000 in his first three weeks trading then his great achievement was able to gain RP 11 million in a week. 
Now from the profit of trading AAb has bought a car and use it for online taxi using application.

Inflation Rate in Jakarta is lower than national scale for november 2016

Representative of bank central of indonesia(BI) reported the stable moving of inflation in jakarta for november 2016 which is at rate 2.09%. Meanwhile the national inflation is 2.59%.
For monthly basis, inflation for november is relatively lower at rate .24% lower than national rate .47%.

The main factor of stabil inflation is much caused by stabil core group since january 2016. While administered prices is also stable enough after previously rose relatively high.

The increase of non subsidized fuel prices contributed .41% while subgroup of transportation such air transport and train contributed deflation each 1.76% and .75%.
Volatile foods inflation on the other hand is quite high due to price increase of horticultural commodities as the effect of long la nina.