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Tag: Indonesia

  • Jakarta-Surabaya rapid train to use existing track

    Jakarta-Surabaya rapid train to use existing track

    Coordinating Minister for Maritime Affairs and Acting Minister of Energy and Mineral Resources Luhut Binsar Panjaitan has said the development of the Jakarta-Surabaya rapid train will use the existing track.

    “For the rapid train, we will use the existing network. We will strengthen the bearing pads and make the crossings run over or under, so there will not be any gates that can harm anyone,” stated the minister at the State Palace complex in Jakarta, Tuesday.

    He mentioned that there are a thousand crossing points on the Jakarta-Surabaya railway network.

    The minister hoped the project survey, due to be conducted in partnership with Japanese representatives, could be done in the first quarter of 2017.

    “The Jakarta-Surabaya rapid train, which runs up to 200 kilometers per hour, will have an immense impact on the nations economy,” he remarked.

    The projects investment value is considerably large, reaching US$2.5 to 3 million.

    Minister Panjaitan explained that the agenda of his meeting with President Joko Widodo today includes reporting the results of his trip to Japan, which was a follow-up to the presidents agreement with Japans Prime Minister Shinzo Abe.

    “I met the prime minister along with his ministers and other officials,” he reiterated.

    He pointed out that the notions agreed upon by both country leaders included the Maritime Economic Cooperation, which was initiated last year.

    “We are now pursuing cooperation in a number of locations, including oil explorations in Natuna, economic development in Sabang, Patimbang harbor development in West Java, and farming advances in Merauke, Papua,” he remarked.

    He also mentioned cooperation in the education sector, where Japan will help with vocational training, while sending their professors to a number of technology corporations in Indonesia.

    “Partnerships in strategic industries are also included, which covers the rapid train project to be discussed with the minister of state-owned enterprises,” he continued.

    He added that from the string of agreements, those that will potentially be carried out during the first quarter of 2017 include the development of Patimbang Harbor.

    “Then, we will proceed with a joint survey for the Jakarta-Surabaya rapid train,” he concluded.

  • Trade ministry encourages small, medium industries to utilize e-commerce

    Trade ministry encourages small, medium industries to utilize e-commerce

    Indoensias Ministry of Trade has said it has been encouraging small and medium industries (SMIs) to take benefit of online trade (e-commerce) to market their products.

    “We are pushing the small and medium industries to take their products to various e-commerce platforms. Websites like Tokopedia, Bukalapak, Blibli and Lazada are all local e-commerce platforms and we encourage the SMIs to use them,” the Minister of Trade, Airlangga Hartarto, stated in Jakarta on Tuesday.

    He hoped that once the SMIs start fully utilizing the e-commerce platforms, the industry will start expanding.

    The fourth industrial revolution era hinges on embracing the internet and integrating it with products and services, he added.

    The minister further explained that internet usage is now part of people’s daily lifestyle and it has now become integral to the industrial world also.

    “Germany began doing it in 2013. If we start this year, we will make sure that we are not left behind,” he remarked.

    Additionally, the Ministry of Trade also encourages professional vocational training to enhance the quality of human resources.

    The minister mentioned the importance of undertaking research and forging collaborations with universities in the industrial sector.

    Minister Hartarto also pointed to the progress made in basic materials, and highlighted the fact that natural energy resources cannot last forever.

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  • Credit Growth in Indonesia Remained Flat in September 2016′

    Credit Growth in Indonesia Remained Flat in September 2016′

    Slowing credit growth will also make it highly difficult for Indonesia’s overall macroeconomic growth to accelerate more markedly this year (the nation’s GDP is expected to expand by 5 percent this year, up from a growth pace of 4.7 percent last year). Juda Agung, Executive Director at the Economic and Monetary Policy Department of Bank Indonesia, said privately-held companies are now focusing on consolidation rather than on business expansion.

    But on the other hand, Agung added, the nation’s banks have also been more careful to disburse loans as the non-performing loan (NPL) ratio has increased. However (conflicting with Agung’s statement), in a recent Bank Indonesia survey the business community of Indonesia actually indicated that it was easier to obtain credit in Q3-2016 compared to the preceding quarter.

    Bank Indonesia expects credit growth to accelerate in the fourth quarter of the year on the back of the lower interest rate environment, the government’s successful tax amnesty program as well as the easier loan-to-value (LTV) ratio.

    The lender of last resort cut its benchmark interest rate (the 7-day Reverse Repo rate) to 5.00 percent in September 2016, while in late August 2016 it cut the LTV ratio requirement by lowering the minimum down payment that is required for first home purchases (when using credit) to 15 percent for houses sized larger than 70 m2 (from 20 percent previously). Meanwhile, the minimum DP for the purchase of a second home was lowered to 20 percent (from 30 percent previously), while that for a third home was lowered to 25 percent (from 40 percent previously).

    Nelson Tampubolon, Commissioner for Banking Supervision at Indonesia’s Financial Services Authority (OJK), informed that slowing credit growth is actually caused by slowing corporate credit. Consumer credit, on the other hand, has continued to grow, he stated.

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  • Bitung ready to play role of Asia Pacific gate

    Bitung ready to play role of Asia Pacific gate

    Bitung Mayor Maximilian Jonas Lomban said he had a vision to make the city into a modern city serving as an Asian Pacific gate for Indonesia.

    The city could play the role of Asian Pacific gate for Indonesia, Lomban said at a meeting on the occasion of the 26th anniversary of the port city here on Tuesday.

    The port city is strategically located on the Pacific rim in North Sulawesi, he said at the meeting attended by the city leaders.

    “The position of the city would be more potential with the governments plan to provide it with facilities and supporting infrastructure that would make it competitive in the Asia Pacific region,” he said.

    He said Bitung would be a knot of various national strategic projects and there would be many national and international investors want to utilize the citys facilities and infrastructure.

    The mayor said among big projects being built and to be built in that area around and in the city include Special Economic Zone (KEK), Manado-Bitung toll road, Bitung International Ocean Going Ship Port and rail track Makasar-Bitung, which will automatically make the city the gate to the Pacific region.

    “The idea of Bitung as a Pacific gate for Indonesia would come to reality especially if Bitung is promoted into one of Indonesia tourist destinations,” Max said.

    Chairman of the Bitung City Council Laurents Supit, Bitung has been awarded a number of tokens of appreciation including from the finance ministry for good financial report and from the Transport Ministry for good service by its container terminal.

    Supit attributed the achievement to the ambition of the city people to transform Bitung into modern marine city.

  • Launch of Indonesia’s First Samsung Galaxy Studio Experience Center

    Launch of Indonesia’s First Samsung Galaxy Studio Experience Center

    The latest Samsung gadgets that can be connected to handsets are available for customers to view and purchase. Not only Galaxy smartphones and tablets are on display, but also the entire Galaxy ecosystem, such as the Gear VR and Gear S2, as well as other Samsung products. Data packages are also available to provide internet access as well as digital content to make it easier for customers to access the digital world.

    The Galaxy Studio Experience Center, located at Indosat Ooredoo’s store at Sarinah in Central Jakarta, has a new design that has never been used by other network operators. It is also more spacious to allow better interaction between customers, who can enjoy experience a digital lifestyle, such as iflix video streaming on a big screen and music streaming on Spotify.

    IM3 Ooredoo subscribers can also purchase data packages such as Freedom Combo, Freedom Postpaid and Super Plan, to watch TV shows and films on iflix for hours without using their main data quota.

    The experience center is a strategic cooperation between the two companies to support retail sales. Indosat Ooredoo and Samsung both have the vision of giving customers an enjoyable and satisfactory experience with the Studio Experience Center.

    Indosat Ooredoo director Joy Wahjudi said the experience center was established to provide a one-stop service for Indonesians.

    The two companies are both committed to establishing experience centers to enable customers to obtain information and try out the latest products and services.

    “We aim to also establish studio experience centers in other Indosat Ooredoo stores,” Joy said.

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  • Indonesia to Extend Ban on Shark Fin Exports

    Indonesia to Extend Ban on Shark Fin Exports

    Marine Affairs and Fishery Ministry will extend the ban on shark fin exports, said the ministry’s directorate general secretary of marine space management Agus Dermawan. “It may be extended, but I don’t know when,” he said Saturday.

    Shark fin export has officially been suspended after Marine Affairs and Fishery Minister Susi Pudjiastuti issued on December 10, 2014, Regulation No. 59/2014 regarding a ban on hammerhead and oceanic whitetip sharks until November 2015. It had since been extended with Marine Affairs and Fishery Ministry Regulation No. 34/2015, which is effective until December 31, 2016.

    According to Agus, Indonesia was the world’s largest shark fin exporter. In 2012, for example, Indonesia exported 434 tons of shark fin worth over US$6 million, the Central Statistics Agency (BPS) recorded.

    He said that the ministry has joined hands with researchers to count the number of endangered shark species left in Indonesia. The regulation about the ban on export and hunting will be based on the outcome of the research. Despite the export ban, hunting and trade of certain shark species for domestic consumption are still allowed.

    Agus said since 2013 five shark species have been listed as endangered, four of which hailed from Indonesia, including hammerhead and oceanic whitetip sharks. Hammerhead sharks include Sphyrna lewini, Sphyrna zygaena, dan Sphyrna mokarran, whereas oceanic whitetip sharks include Carcharhinus longimanus.

    Despite the official export ban, rare shark fin smuggling continues to happen. In February, Directorate of Customs and Excise of Finance Ministry Tanjung Perak office, Surabaya, foiled an attempt to smuggle 20 tons of shark fins and jellyfish to Hong Kong.

    Therefore, Marine Affairs and Fishery Minister Susi Pudjiastuti vows to enhance the Task Force 115, who are tasked with eradicating illegal fishing practices. “We will deploy Custom & Excise and the Task Force personnel to monitor smuggling,” Minister Susi Pudjiastuti said.

    Meanwhile, Oceans Campaigner of Greenpeace Indonesia Sumardi Ariansyah has urged the government to do more than just banning shark imports. According to him, shark fin consumption in Chinese restaurants has also contributed to the declining population of the species, although not as high as foreign demand. “The government must set up and establish better and more comprehensive policies,” he said.

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  • Kimia Farma builds pharmaceutical raw material factory

    Kimia Farma builds pharmaceutical raw material factory

    In cooperation with Sungwun Pharmacopia of South Korea, Indonesias state-owned pharmaceutical company PT Kimia Farma will build the first factory for pharmaceutical raw materials to meet the needs of medicine producers in the country.

    The construction of the pharmaceutical factory was inaugurated on Monday by Health Minister Nila F Moeloek, in the company of Kimia Farma President Director Rusdi Rosman, Food and Drug Regulatory Agency (BPOM) Chief Penny Lukito, and House Commission-IX Chairman Dede Yusuf.

    Rusdi Rosman said the factory, located at the Lippo industrial area in Cikarang, Bekasi, will be built in stages on a six-hectare plot of land and at a cost of Rp132 billion.

    In building the first factory for pharmaceutical raw materials, Kimia Farma will cooperate with Sungwun Pharmacopia Co. Ltd, because of their experience in producing raw materials for medicines.

    Further, the Kimia Farma president director noted that the factory will be built in accordance with the standard of Good Manufacturing Practice (GMP) and is expected to be completed by the end of 2017, while the selling of Active Pharmaceutical Raw Materials (API) is planned to begin in early 2018.

    Rusdi noted that the factory will produce eight types of raw materials, including Simvastatin, Atorvastatin, Rosuvastatin, Pantoprazole, Esomeprazole, Rabeprazole, Clopidogrel and Sarpogrelate, with a production capacity of 30 tons per year.

    Production of the raw materials is to meet 100 percent of the needs of the pharmaceutical industry in Indonesia, as well as for market export.

    Kimia Farma will also manufacture seven types of raw materials that can be used for cosmetics and dietary supplements, and to be exported to Korea, Japan and America.

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  • 30 percent of Egyptian coffee from Indonesia

    30 percent of Egyptian coffee from Indonesia

    Indonesia’s Ambassador to Egypt, Helmy Fauzy, said that some 30 percent of the coffee in Egypt comes from Indonesia, which is the leading coffee importer in Egypt.

    “This is the reason we bring potential investors from Egypt to Gorontalo, to meet the coffee suppliers, especially to see Robusta coffee,” said Helmy at the “Indonesia Middle East Update (IMEU) 2016”, held in Gorontalo on Oct 9, 2016.

    He explained that Indonesias relationship with Egypt has always been very close, as there are about 4,500 Indonesian students studying in Egypt.

    According to Helmy, Indonesian products have superior penetration in some markets in Egypt, though the volume remains small, at about 1.42 percent. Conversely, imports from Egypt to Indonesia are just 0.09 percent, but volume continues to increase sharply.

    “In the first half year, the trade volume between the two countries has almost reached one billion US dollars and continues to increase,” he said.

    An official of the Ministry of Foreign Affairs, Ridwan Yasin, explains that IMEU is a concrete form of cooperation between the Ministry of Foreign Affairs and the Middle East Directorate of the Ministry of Foreign Affairs, in cooperation with local governments.

    “This is a concrete manifestation of cooperation between the foreign ministry and the local government, to improve the economy in this area,” he explained.

    He said he hoped this year that the IMEU could provide great benefits and a real contribution to economic development in Gorontalo province, and cooperation with countries in the Middle East.

    He added that the Ministry of Foreign Affairs, through Indonesian embassies abroad, never stops scheduling promotions, which provide an opportunity for the region to offer a variety of investments.

    “But the most important thing to keep the investment climate in the area is changing society’s mindset, so they can accept foreigners and work together here, for the mutual benefit of both sides,” he said.

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  • Mastercard Appoints President for Indonesia, Malaysia and Brunei

    Mastercard Appoints President for Indonesia, Malaysia and Brunei

    Now he will also be in charge of encouraging the implementation of digital payment technology.

    Previously based in Kuala Lumpur, Khan and his division will now be headquartered in Jakarta. Mastercard considers this a move towards recognition of Southeast Asia’s developing countries, whose economy has been predicted to be worth billions of dollars.

    The move was also triggered by the formation of ASEAN Economic Community (AEC), where the ongoing economic integration gives a potential for Mastercard to gain influence.

    “AEC stands as a landmark to integrate the region’s economy. Safdar Khan’s appointment would serve as evidence of Mastercard’s focus in building a strong, relevant and influential business in Southeast Asia. This appointment shows our continuing commitment to empower the great leaders who can encourage innovations and inclusion in a meaningful and interconnected way,” Mastercard Asia Pacific co-president Ari Sarker said.

    Sarker also appreciated Khan’s profound knowledge about the customers, regulators and government bodies.

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  • Assets of sharia banks increase to Rp305.5 trillion

    Assets of sharia banks increase to Rp305.5 trillion

    The assets of sharia banks rose 18.49 percent year-on-year to Rp305.5 trillion by July, 2016 on growing third party funds.

    Third party funds held by sharia banks rose 12.54 percent to Rp243 trillion in the same period, Chairman of the Board of Commissioners of the Financial Service Authority (OJK) Muliaman Hadad said in a news release received here on Sunday.

    “The rise in third party fund resulted in an increase of 7.47 percent in sharia financing to Rp220.1 trillion from Rp204.8 trillion,” Muliaman Hadad said at a seminar on sharia financing in Washington, the United States, organized by the World Bank and the Islamic Financial Services Board.

    The rise in sharia financing contributed to increase sharia share of the banking market to 4.81 percent in July, 2016 from 4.6 percent in July 2015. The market share rose to 5.13 percent if conversion of the Aseh Development Bank to Sharia bank was taken into account.

    Muliaman said sharia finance could be an instrument to achieve Sustainable Development Goals (SDGs) as called for by the United Nations.

    “The typical principles of sharia finance which give emphasis on equitable income and is oriented to environmental social activities, make development of sharia financial system very relevant with the SDGS goals,” he said.

    Sharia finance covers not only poverty aspect but also health care, education, gender equal treatment, infrastructure development, economic development, anticipation of climate change, etc, he said.

    He said sharia banking industry has grown in Indonesia as indicated by the decline in Non-Performing Financing (NPF) ratio to 4.81 percent by July 2016.

    Return on Assets (ROA) rose to 1.06 percent by July, 2016 from 0.91 percent by July 2015. As for the ratio of operating cost to operating income has improved to 92.78 percent from 94.19 percent.

    In addition, there was an increase in capital adequacy of sharia banks as reflected in the Capital Adequacy Ratio (CAR) to 14.86 percent in July 2016 from 14.47 percent last year.

    The assets of sharia non bank finance industry rose 23.18 percent to Rp80.1 trillion by July 2016.

    Global sharia bonds contributed 23.3 percent or US$10.15 billion to the total value of international sovereign bonds.

    Indonesia is the first country to issue sharia retail bonds.

    Muliaman said sharia capital market could also play a significant role in financing the governments infrastructure projects.

    Separately a member of the OJK board of commissioner Firdaus Djaelani said in Semarang, the country had sharia banks, 22 conventional banks having sharia units and 165 sharia people financing banks.

    Firdaus said based on data in September, 2016, there were 36 investment managers issuing sharia mutual fund (Reksadana), 12 securities companies issuing sharia on line trading system, 326 issuers and public companies with sharia shares and 51 series of corporate sharia bonds and 53 series of state sharia bonds have been issued.

    Assets in sharia products in the stock exchange were valued at Rp3,272.84 trillion consisting of market capitalization of sharia shares, sharia mutual funds and corporate sharia bonds.

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  • North Sumatra`s rubber exports down 20 percent

    North Sumatra`s rubber exports down 20 percent

    North Sumatras rubber exports in the year to August 2016 plunged 20.84 percent compared to the same period last year.

    “By August 2016, North Sumatras rubber and rubber product exports fell to US$633.996 million from US$800.864 million in the same period last year,” chief of the production statistic section at the Central Statistics Agency (BPS) office in North Sumatra, Bismark SP Sitinjak said here on Saturday.

    The shortfall in foreign exchange earnings was the result of lingering global crisis, leading to low demand for the commodity in the global market. he said.

    With the decline, the provinces rubber exports will most likely drop throughout this year compared to a year earlier, he said.

  • Importing gas will not help deal with rising prices

    Importing gas will not help deal with rising prices

    The Energy and Mineral Resources Ministry has stated that the proposal of the Indonesian Petroleum Association (IPA) to import gas will not help the governments effort to curb gas prices applicable to the industry.

    The proposal is one of the many options to cut gas prices for industries, Director General of Oil and Gas at the Energy and Mineral Resources Ministry, IGN Wiratmaja Puja, said here on Monday.

    “There are many options to bring down the gas prices, from upstream, midstream to downstream levels. But we have to look at the data in detail,” he noted.

    Purchasing gas from other countries will not significantly affect the global gas prices, he added.

    If Indonesia intends to import gas, it must be far cheaper than the locally produced gas. In addition, the nation must also consider additional charges accrued in transporting gas from abroad and the cost to change it into liquefied natural gas (LNG), he reminded.

    “Admittedly, when bought from Qatar, gas will be slightly cheaper, but if the cost of transportation is added to the price, then it will not be much different from that of local gas. The US gas is currently being sold at US$2.5 per mmbtu but we need to study the cost to change it into LNG to facilitate its shipment to the rest of the country. Clearly, it will not be able to help us very much,” he pointed out.

    He underlined that the policy to import gas must consider the situation on the domestic production front. The concept of supply and demand will prevail. Besides, the policy gas import will not be allowed in case of overproduction.

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  • Japan to possibly take part in East Natuna gas exploitation

    Japan to possibly take part in East Natuna gas exploitation

    Indonesias state-owned energy company, PT Pertamina, has hailed a senior minister for proposing to invite Japan to participate in the East Natuna Block gas project in the province of Riau Islands.

    Pertamina, ExxonMobil and PTT Thailand have formed a consortium to develop the gas field in the border region.

    “This is a big investment. The consortium is still to discuss it. I think in view of the big investment needed, it will be good if a number of parties participated. Certainly, the issue will be discussed by the consortium,” Pertaminas President Director Dwi Soetjipto said at the office of the Coordinating Minister for Maritime Affairs here on Monday.

    Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan has invited Japan to participate in the project to exploit the East Natuna block in the Sumatran province.

    Dwi pointed out that the profit sharing concept was the crucial point to discuss.

    “What is important now is the formula to share the profits so that the project’s economic value can be realized,” he added.

    The Director General of Oil and Gas of the Ministry of Energy and Mineral Resources, IGN Wiratmaja Puja, underlined that the consortium was still discussing the production sharing contract.

    He admitted that Japan and Malaysia (Petronas) have also been invited to develop the block.

    “Japan has been invited and also Malaysia, and we hope they will be interested,” he noted.

    Malaysias Petroleum Nasional Berhad (Petronas) had indeed been a member of the consortium but later withdrew.

    Petronas joined the East Natuna consortium when the Principle of Agreement for the exploration and exploitation of East Natuna was signed on August 19, 2011.

    At the meeting with Malaysias Deputy Prime Minister Ahmad Zahid Hamidi in Malaysia early in September, Minister Luhut had invited Petronas to participate in the oil and gas exploitation in East Natuna.

    The East Natuna Block plans to first produce oil while gas production will be undertaken after a study in view of the fact that its carbon dioxide (CO2) content can reach up to 72 percent.

    The production sharing contract of the East Natuna Block could be signed even though it was expected to happen in September last year since no agreement was reached regarding the profit sharing formula.

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  • BlackBerry Phones Will Live On for Die-Hard Fans in Indonesia

    BlackBerry Phones Will Live On for Die-Hard Fans in Indonesia

    BlackBerry Ltd. may have decided to stop making its iconic handsets, but that doesn’t mean the gadgets will disappear, especially in places where they’re still popular. Case in point: an Indonesian wireless company is already hatching plans to introduce its own version of the keyboard-equipped smartphone for those who can’t live without the device.

    PT Tiphone Mobile Indonesia Tbk, an affiliate of operator PT Telekomunikasi Indonesia Persero Tbk, has struck the first deal with BlackBerry to form a local joint venture called PT BB Merah Putih to make its devices in Indonesia. While the Canadian company is shifting its focus to software, Indonesia remains one of BlackBerry’s biggest markets. BlackBerry in the past launched dedicated phones and apps for the Indonesian market, home to 240 million people.

    Under the preliminary deal, Blackberry phones will be manufactured at a factory owned by a subsidiary of Tiphone Mobile for domestic sales, said Tan Lie Pin, Tiphone’s chief executive officer. Another local company is in talks to join the venture and details are being negotiated, she said in an interview.

    “More than six million people still use BlackBerry in Indonesia and we believe that BlackBerry can still grow in the Indonesian market,” Tan said. “We are very optimistic and excited.”

    BlackBerry CEO John Chen said this week the company would stop making phones and focus its attention on the more profitable and growing software business. The company plans to negotiate manufacturing agreements with multiple overseas partners. While Tan said Tiphone will manufacture phones for the Indonesian market, discussions on the venture are continuing with BlackBerry.

    BlackBerry’s popularity in Indonesia stems from its hugely popular instant-messaging app, BlackBerry Messenger, known as BBM. Many Indonesians still stick to BBM in order to connect with their curated groups of friends and family, even though some of them no longer use BlackBerry devices.

    BBM for iOS and Android devices ranked No. 1 in terms of downloads among chat apps in Indonesia in August, ahead of rival WhatsApp and Line, according to market researcher App Annie. Emtek Group, one of Indonesia’s biggest media and technology companies, signed a licensing agreement with BlackBerry in June in order to bring video content onto BBM and begin developing new applications and services for the messaging app.

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  • Garuda Indonesia expects US$25 million from intl cargo

    Garuda Indonesia expects US$25 million from intl cargo

    The Indonesian flight carrier, Garuda Indonesia, is expecting US$25 million from international cargo service by the end of 2016.

    “Currently, the average income from cargo per month is US$21 million. Business cargo, mainly catering to the international market, will continue to support the company’s revenue stream,” President Director of Garuda, Arif Wibowo, said here on Tuesday.

    According to him, one of the strategies developed by the company to increase the cargo capacity is to open international flights.

    “We should explore international markets and also enlarge our cargo capacity on overseas flights,” he added.

    He pointed out that the largest component of cargo business of Garuda currently comes from China, covering Canton and Shanghai, reaching about 20 tons per day.

    Meanwhile, the cargo capacity from Tokyo and South Korea is about 20 tons per day, and from Europe is around 14-15 tons per day.

    To capture the growth opportunity in the cargo business, in particular in the international market, Garuda is opening new routes and adding frequencies of domestic flights to a number of foreign countries.

    For instance, he stated, the Jakarta-Madina flight will be available in December 2016. Also, the Surabaya-Madina route will be opened.

    To support its flight expansion plans, Garuda provides 50 units of Boeing737 MAX, while its subsidiary, Citilink, provides 50 units of Airbus A320.

    Regarding the business expansion to China, Garuda will soon open an international flight on the Denpasar-Chengdu route in January.

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