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Tag: Indonesia

  • Indonesia & Vietnam leading Asian beauty industry growth

    Indonesia & Vietnam leading Asian beauty industry growth

    Indonesia and Vietnam are the fastest-growing markets in the Asian beauty industry.

    According to research from Euromonitor International, Markets of the Future: ASEAN in 2020, the two countries significantly outperform the most obvious contenders, Korea and China.

    Vietnam’s beauty and personal care market experienced healthy value growth in 2015. With the developing of the Internet network and online retailing, more consumers from rural areas can buy products more easily, and it also strongly boosts retail value sales of beauty and personal care due to changing consumer behavior. On the other hand, thanks to dynamic marketing activities by leading manufacturers and media, consumers are aware of the importance of using branded products from reliable sources after many scandals of cosmetics containing toxic ingredients.

    People are willing to spend more on all types of beauty and personal care, instead of using unbranded goods, in order to protect their health.

    Asia beauty chart

    In October 2015, the draft TPP trade pact was signed, which means Indonesia and Vietnam are set to open up to other nations by removing barriers and decreasing tariffs by up to 100 per cent. As a result, it will open significant change in beauty and personal care over the forecast period such as lower pricing and more international companies entering the two markets.

    Countires across Asia were ranked by Euromonitor by actual and forecast growth between 2008 and 2018, as the chart shows.

    The data was revealed by UBM Asia, organiser of Vietbeauty 2016 at Ho Chi Minh City in August, which will showcase products from more than 150 exhibitors from Japan, Korea, Australia, Hong Kong, Thailand, Taiwan, Mainland China, Indonesia, the Philippines, Malaysia, India, Singapore, the US and Europe.

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  • Parkson revenue falls

    Parkson revenue falls

    Despite contributions from new outlets, Parkson Retail Asia’s department stores have seen third-quarter group revenue fall by 15.6 per cent to S$98.4 million (US$71.5 million), with a 14.4 per cent drop to S$294.6 million for the nine months of its current financial year.

    The Parkson revenue decline reflects same-store revenues falling in Malaysia and Vietnam, plus the weakness of the Malaysian ringgit resulting in lower figures because of the reporting currency being Singapore dollars.

    A pre-tax loss of $7.5 million was recorded by the group for the third quarter, with factors including provision made on loans to managed stores of $4.9 million, and initial losses associated with new stores.

    Same-store sales growth in Malaysia fell 17.4 per cent in the third quarter, but figures for the corresponding quarter last year were bolstered by sales before the introduction of a Goods & Services Tax (GST) on April 1 2015. Also, consumer confidence was below the 100-point threshold for the seventh consecutive year, as reported by the Malaysian Institute of Economic Research.

    Vietnam same-store sales fell 8.2 per cent for the quarter, with a difficult and increasingly crowded retail environment, the company said. For the nine months, a pre-tax loss of $4.9 million has been recorded.

    Sales were flat in Indonesia, edging up just 0.1 per cent. However, the company says consumer sentiment is robust with Bank Indonesia reporting the consumer confidence threshold at 111.1 points, a little down on the 119.1 points at the same time last year. For the nine months, a $3.2 million pre-tax loss was recorded.

    In Myanmar, Parkson same-store sales fell 7.6 per cent, affected by supplier uncertainty about plans to close the FMI Centre, where the store is located, for re-development. However, a new location has been secured, with the new store expected to open by March.

  • Sabang Festival expected to attract 30,000 tourists

    Sabang Festival expected to attract 30,000 tourists

    The Third Sabang Festival is expected to attract 30 thousand tourists to visit Weh Island, Head of Sabang Culture and Tourism Zulfi Purnawati has stated. The festival will be held from May 21 to 25.

    “In 2015, as many as 20 thousand tourists visited Sabang during the festival, and this year we have targeted 30 thousand tourists,” Zulfi Purnawati said here Saturday.

    During the Sabang Fair, the exhibition of appropriate technology will be also conducted.

    “As a result, some 23 contingents from the district/city will participate in the event. We are optimistic that 30 thousand tourists will visit Sabang,” Purnawati remarked.

    The implementation of the fair was intended to promote tourism in Sabang as well other destinations in Aceh district.

    Purnawati expected the contingent to utilize the annual event as part of its efforts to promote tourist destinations across Aceh.

    Delegations from North and West Sumatra will also attend the festival.

    Meanwhile, entrepreneurs in some ASEAN countries have expressed readiness to attend the festival.

    Secretary Administration of Sabang Sofyan Adam, who is also the executive chairman of the festival, said that all contingents should confirm their participation.

    “The committee has launched the enrollment drive and all contingents should report to the committee. We have also coordinated with the Sabang branch of state-owned ferry operator PT ASDP Indonesia to help with the implementation of the festival,” Adam remarked.

    Earlier, the Ministry of Tourism (kemenpar) of The Republic of Indonesia stated that the success of tourism really depends on the presence or absence of comfort and hospitality of the community towards tourists at the location.

    “The comfort of a tourist is the main factor which should be of concern to a region while developing the concept of tourism. It is not just a discourse,” Directorate General, Based on Media, Design, Science and Technology in the Tourism Ministry, Harry Waluyo said here Monday.

    He stated this when opening a training course on human resources improvement for tourism at the Dharmas Indonesia University in Pulau Punjung.

    The first impression for a tourist during his or her first visit depends on the service from the local community, and that is why one needs human resources with good manners, according to him.

    “Do not let illegal fees damage tourism, that is the weakness of our community all this time while welcoming tourists,” he said.

    “Develop tourism which other regions do not have, so that there will be a main attraction for tourists,” he explained.

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  • Lotte to expand investment in Indonesia

    Lotte to expand investment in Indonesia

    Lotte Group Chairman Shin Dong-bin will meet Indonesian President Joko “Jokowi” Widodo during his three-day state visit to Korea which began Sunday.

    According to a Lotte official, Sunday, Shin and Widodo will have a meeting at Lotte Hotel in central Seoul today, to discuss advancements of the group’s investment and business in the country.

    President Widodo is expected to promise full support for the group’s advance into the country.

    Lotte Group is currently operating a Lotte Department Store with two duty-free stores and 41 Lotte Marts as well as Angel-in-us cafes and Lotteria fast food restaurants in Indonesia.

    Especially, Lotte Shopping Avenue that opened in the capital city of Jakarta in 2013 has reportedly gained huge popularity among Indonesians. Lotte Shopping Avenue is a shopping complex consisting of the group’s affiliates such as its department store, duty-free store and Lotteria.

    In 2010, Lotte Group’s petrochemical unit Lotte Chemicals entered the Indonesian market by acquiring Southeast Asia’s leading petrochemical company Titan Chemicals.

    Lotte Group also signed a memorandum of understanding with the country’s largest conglomerate Salim Group in a bid to enter Indonesia’s e-commerce market. The two groups are expected to establish a joint corporation by the end of this year and launch the service next year.

    President Widodo is also expected to have a summit with President Park Geun-hye on the same day and meet other Korean businessmen. He is accompanied by Coordinating Minister for Economic Affairs Darmin Nasution and Trade Minister Thomas Lembong.

    Foreign Minister Retno Marsudi and Head of the Investment Coordinating Board Franky Sibarani came ahead of their president.

    Widodo met with the Indonesian community in Korea at the Indonesian Embassy on Sunday morning.

    Indonesia is now one of the world’s top ten manufacturing countries and a core member state of the Association of South East Asian Nations (ASEAN) where over 2,200 Korean firms are conducting business.

    Korea is reportedly the fifth-largest investor in Indonesia, with total investments reaching $1.2 billion while trade between the two countries peaked at $30 billion in 2011.

  • Pertamina cuts Pertamax gasoline prices

    Pertamina cuts Pertamax gasoline prices

    State-owned oil and gas company Pertamina has lowered the prices of Pertamax gasoline by Rp200-Rp300 per liter effective as of 00:00 on Sunday, 2016.

    Corporate Communication Vice President of Pertamina Wianda Pusponegoro said in written statement here on Sunday that the lowering of the prices was a periodical corporate decision made to follow the trend of the world crude prices.

    “The prices of Pertamax were lowered by Rp200 per liter for Java, Madura and Bali islands and by Rp300 per liter for other regions,” she said.

    She cited Jakarta and its surroundings as an example where Pertamax price was lowered from Rp7,550 per liter to Rp7,350 per liter. In Surabaya, East Java, the price was lowered from Rp7,650 to Rp7,450 per liter.

    In East Kalimantan, on the other hand, the price of Pertamax was cut by Rp300 per liter from Rp8,000 per liter to Rp7,700 per liter.

    The price of Pertamax Plus in West Nusa Tenggara, Java and Bali was cut by Rp200 per liter and by Rp300 per liter in other regions.

    However, the price of Pertamax Dex was lowered by Rp300 per liter in all regions. The Price of Dexlite gasoline was set at Rp6,650 per liter.

    Pertamina also cut the price of Pertalite gasoline by Rp200 per liter in all regions.

    “The price of Pertalite in Papua which was initially sold at Rp7,300 per liter is lowered to Rp7,100 per liter,” she said.

    The prices of diesel oil/bio-diesel oil were also reduced by Rp300 per liter.

    In Jakarta and Banten, the prices of fuels of these types went down from Rp6,950 per liter to Rp6,650 per liter.

    “Besides the decline in the world oil prices, the lowering by Pertamina of the gasoline prices was also a form of the companys appreciation to consumers,” Wianda Pusponegoro said.

    She said Pertamina will continue to monitor tightly the availability of stocks at gasoline refueling stations considering that the decline in the price of gasoline often increases consumption.

  • Demand for North Sumatra`s rubber shrinking

    Demand for North Sumatra`s rubber shrinking

    North Sumatras exports of natural rubber has continued to shrink, down 8.23 percent in volume to 137,826 tons in the first four months of the year from 150,194 tons in the same period in 2015.

    “The decline in exports was on weak demand and as a result of an agreement by worlds largest producers to cut exports,” executive director of the North Sumatra branch of the Indonesian Association of Rubber Companies (Gapkindo) Edy Irwansyah said here on Sunday.

    Thailand, Indonesia and Malaysia which are grouped in the rubber cartel International Tripartite Rubber Council (ITRC), had decided to cut exports in a bid to drive up the commodity price.

    The three Asean countries, which account for around 80 percent of the worlds production of natural rubber decided to cut exports by 615,000 tons to be shared proportionally by the three ASEAN countries. Indonesia is to cut exports by 238,736 tons.

    The ITRC said it was optimistic the export cuts would drive rubber market to recovery after six years of being in deep slump.

    The price of natural rubber has remained low to follow the oil price fall.

    Edy said the export volume would likely fall lower not only because of the ITRC agreement but also because of weaker demand.

    The price of the commodity on May 13 was US$1.4 per kg for delivery in July down from US$1.417 for Junes delivery.

    The price of latex in North Sumatra has also dropped to around Rp13,477 per kg Rp13,477 – Rp14,201 per kg.

    However, reports said earlier that the price of rubber in othyer areas of the country had been picking up .

    In Lebak regency of Banten , the price rose in the fourth week of April reaching Rp21,500 poer kg of slab.

    “I think the price rise would encourage the rubber farmers,” said Rulyy Yanrila, head of the marketing section of the district Forestry and Plantation Office.

    The increase in price would at least help cover the production cost, Rulyy Yanrila said .

    Many rubber farmers have been on the brink of bankruptcy after years of slump, he said, adding some farmers already stopped tapping as the result was not worth the work.

    Jayadi (55),a rubber farmer in the village of Leuwidamar, said rubber production declined over the past several weeks as most of the rubber trees have been too old and on poor maintenance.

    In Kalimantan, Chairman of the South and Central Kalimantan branch of the Indonesian Association of Rubber Companies (Gapkindo)Andreas Winata said the price of natural rubber from that region has increased to Rp16,000 per kilogram from Rp12,000 earlier.

    Andreas said the cut in exports apparently has caused panic in international market on shortage in supply, resulting in surge in price. In addition, supplies from other countries also declined on long drought, he said.

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  • Bank Mandiri chalks up Rp3.8 trillion in Q1 net profit

    Bank Mandiri chalks up Rp3.8 trillion in Q1 net profit

    The state-owned lender Bank Mandiri reported Rp3.8 trillion in net profit in the first quarter of 2016 thanks to increases in net interest income and fee-based income.

    The countrys largest bank in asset recorded a 19.1 percent in increase in net premium and net interest income to Rp13. trillion and 8 percent rise in fee-based income to Rp4.2 trillion.

    President Director of the bank Kartika Wirjoatmodjo said the increase in net interest income and fee-based jacked up operating income that surged 16.3 percent on-year to Rp17.2 trillion.

    The increase in income contributed to 15.9 percent growth in operating profit to Rp9.3 trillion, Kartika said here on Sunday.

    “Productivity of assets, liability and transaction business have been well managed amid the domestic and global economic slowdown,” he said.

    The liquidity of the bank was marked with the increase in third party funds held by the bank to Rp655.1 trillion in the first three mo9nths of the year, he said.

    Around 62 percent or Rp406.5 trillion of the third party funds were in giro and savings . Savings dominated the cheap fund growing Rp18.2 trillion to Rp248.8 trillion.

    Its outstanding credits totaled Rp574.7 trillion by the end of the first quarter of the year, and 85.7 percent of the credits were categorized as productive credits, Kartika said.

    Infrastructure credits totaled Rp46.42 trillion and credits for micro, small and medium enterprises (UMKM) reached Rp74.6 trillion.

    Its people credit facility called KUR reached Rp3.7 trillion or 28 percent of the whole years target of Rp13 trillion with 466,000 recipients in the first quarter of the year.

    Earlier a bank director Tardi said the target set for this year is more than quadrupling the target of only Rp3.2 trillion in 2015.

    The bank has established more small branch offices in the regions to facilitate disbursement of KURs for micro, small and medium enterprises.

    The small branch office would bring the bank closer to small depositors, Tardi said.

    In 2016, Bank Mandiri hopes to increase the number of its small branch offices to around 400 units all over the country.

    By April 2016, at least 26 new units have been in operation and by September the remaining 374 units are expected to be ready for operation.

    With the additional branch offices, the bank hopes to expand its market among the small and medium enterprises, which have proved more resistant to economic crisis.

    The small and medium enterprises provide a potential market for banking business in the country, banking observers have said.

    Currently, Bank Mandiri has 3,021 outlets including 600 units of kiosk all over the country.

    Bank Mandiri also has 17,000 agents for financial services without office for inclusive finance in various areas in the country.

    They include 8,759 individual agents and the rest institutional agents .

    In 2015, the bank reported a better-than-expected net profit but its bad loans crept up partly due to its exposure to the commodities sector.

    The bank posted a net profit of Rp20.3 trillion in 2015, or about 2 percent higher than in 2014.

    Its outstanding credits surged 12.4 percent to Rp595.5 trillion.

    Growth in net profit was the smallest in a decade, as the bank stepped up provisions. But the lenders 2015 profit was still higher than the average forecast of Rp19.59 trillion.

    Its gross non-performing loans (NPL) rose to 2.60 percent of total loans by the end of 2015, from 2.15 percent in the previous year.

    Gross NPL is predicted to be around 2.5 percent to 3 percent in 2016, Kartika has said.

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  • Pos Indonesia to expand storage facilities

    Pos Indonesia to expand storage facilities

    State postal service firm PT Pos Indonesia plans to expand its warehouse facilities from 3 hectares to 3 hectares to improve its logistics services.

    The land acquisition and development is estimated to cost US$250 million to $300 million.

    PT Pos Indonesia president director Gilarsi Wahju Setijono did not say how the firm would finance the land procurement, but did say the company was in talks with other state-owned enterprises ( SOEs ) for asset swaps. The company has many assets in strategic locations that it could exchange for larger plots of land in other locations.

    “We are asking them to exchange their plots, such as at the airport or seaport with our assets in strategic places,” Gilarsi said.

    Despite having assets in strategic places, PT Pos is struggling with increasing expenditure that is eating away at its profits. It posted Rp 16 billion ( US$ 1.2 million ) in profit last year.

    “Our revenue increased a bit from Rp 4.3 trillion ( US$ 324 million ) in 2014 to Rp 4.6 trillion ( US$ 326 million ) in 2015, but our expenditure increased more than our revenue,” Gilarsi said.

    PT Pos is currently conducting restructuring in its logistics business. The company will also revive its financial services business, such as offering money transfers and utilizing postmen as payment agents in the next four years.

    “Sixty percent of the Indonesia population do not use online banking. We’ve got many branches and will employ our postmen as payment agents,” he said.

  • Indonesian Culinary Fair 2016 to be held in Japan

    Indonesian Culinary Fair 2016 to be held in Japan

    The Indonesian Culinary Fair 2016, dubbed “The Taste of Indonesia,” will be organized at the Shinagawa Prince Hotel, Tokyo, from May 16 to June 16.

    The organization of the culinary promotion event was in line with the governments policy to intensify culinary diplomacy, Tourism Minister Arief Yahya stated here, Friday.

    The promotion event has been organized to achieve three targets. The short-term target is to introduce Indonesias diverse flavors and tastes, as well as to promote the countrys culinary delicacies.

    The mid-term target is to encourage restaurants and hotels in Japan to offer Indonesian dishes as well as to attract more Japanese tourists to visit Indonesia.

    The long-term target is to send Indonesian chefs to work in restaurants and hotels in Japan and to introduce halal food cooking techniques as well as Indonesian dishes in Japans culinary schools.

    Japan ranks fifth in the list of major countries contributing tourists to Indonesia, according to Deputy Minister in charge of International Tourism Marketing Development of the Tourism Ministry I Gde Pitana.

    During the culinary fair, various Indonesian traditional arts, such as Sasando, will be performed.

    The Japanese government has promoted international cuisines, including halal food, to attract foreign tourists from Muslim majority countries, among others.

    Japan has set a target to attract 30 million foreign tourists by 2020. Six to eight million, or 20 percent of the 30 million tourists, are expected to be Muslims.

    “This is an opportunity for Indonesia to promote its various culinary delicacies and food products, including spices,” Pitana affirmed.

    Last month, the “Wonderful Indonesia” Restaurant was opened in Anhui Province, China, to offer typical culinary delicacies from the archipelago as part of the efforts to promote the countrys tourism and culture.

    Situated in the densely populated area of Hefei in Anhui Province, the Wonderful Indonesia Restaurant was inaugurated by Minister Yahya.

    “There is a growing trend of using culinary diplomacy to support tourism, and almost all television stations are also highlighting this aspect as one of their flagship programs,” Yahya remarked.

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  • UberJEK Launched in Jakarta

    UberJEK Launched in Jakarta

    UberJek, an app-based transport service, has officially started operation on Sunday, May 15. Aris Wahyudi, UberJEK’s co-founder, claims cheaper tariffs compared to its competitors.

    “Our tariff is different from those of the competitors. Our tariff will continue to drop from the first kilometer,” Aris said after UberJEK launch at Euro Management Indonesia, Sunday, May 15, 2016.

    He illustrated that on kilometer 1-5, the tariff is Rp2,500 per kilometer; on kilometer 6-10, it’s Rp2,000; above 11 kilometers, customers will be charged for Rp1,500 per kilometer.

    He added, other benefit of using UberJEK is no minimum tariff set for short distance travels. Thus, customers wanting to travel within 1 kilometer can pay Rp2,500. “We do not set a minimum distance, unlike our competitors. The benefit of using UberJEK is in short distance travels.”

    To attract customers, in addition to cheaper tariffs, UberJEK also entices its customers with giveaways. It is part of the promotional strategy to introduce UberJEK to the market. UberJEk claims to have earmarked seven million smartphones as giveaways for customers.

    UberJEK was founded by Aris and three other Indonesian businessmen in late October 2015. Aris said UberJEK services can now be enjoyed in 30 cities in Indonesia with a total of 2,200 drivers.

  • Index Living Mall sets plan for Asean market

    Index Living Mall sets plan for Asean market

    Thai home-furnishings manufacturer and retailer Index Living Mall has set a strategic plan to open at least one store in a new Asean market every year.

    The company expects the sales contribution from Asean countries to increase significantly from the 6 to 7 per cent estimated for this year to 10 per cent within three years.

    MD Kridchanok Patamasatayasonthi says the expansion is in line with its vision to be the No. 1 player in Southeast Asia in terms of brand awareness in its segment.

    In Thailand, Index Living Mall opened a branch in Nakhon Pathom in February with 7500 sqm of retail space, and another store will open in Chachoengsao next month covering 5500 sqm.

    “We also plan to open another store in Bangkok next January,” says Kridchanokshe.
    Index Living Mall has also opened stores in Malaysia and Vietnam.

    Malaysia’s first store is in IOI City Mall in Putrajaya, followed by another outlet at Aeon Mall in Shah Alam in March, and at Aeon Mall in Kota Bahru last month. The expansion in Malaysia is through a joint venture with Japan’s Aeon Group, and the fourth store will open in Johor Bahru next year.

    In Vietnam, where the brand has had a presence for four years, the company has appointed a new local franchisee to expand its network. The first Index Living Mall in Vietnam under the new partnership, at Vincom Mega Mall in Ho Chi Minh City, opened in January, followed last month by a store at Hanoi’s Vincom Mega Mall.

    “We are negotiating with a potential joint-venture partner in the Philippines and a potential franchisee in Indonesia for partnership deals expected to be finalised next year,” says Kridchanok.

    Index Living Mall posted THB2.5 billion (US$71.242 million) in sales revenue in the first quarter of this year, a 10 per cent increase compared with the same period last year. The company targets THB10 billion in sales this year, up 10 per cent over 2015.

    It has also opened a concept store at Don Mueang International Airport, Sky Living by Index Living Mall – 400 sqm of retail space showcasing its products and accessories.

    After the renovation of the airport’s Terminal 2 to accommodate the growing number of domestic passengers, Index Living Mall aims to create direct customer experiences by providing a premier passenger lounge designed around a variety of room settings, as well as a Kids’ Zone.

    The first Index Living Mall store opened more than 20 years ago, and there are now 26 retail locations throughout Thailand.

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  • Indonesia to apply e-planning, e-budgeting systems by 2018

    Indonesia to apply e-planning, e-budgeting systems by 2018

    The government will apply e-planning and e-budgeting systems by 2018, according to National Development Planning Minister Sofyan Djalil.

    “We will improve the process while drafting the Government Working Plan 2017. This is an initial step in the process of applying e-budgeting and e-planning systems,” Minister Djalil, who is concurrently chairman of the National Development Planning Board, said here, Wednesday.

    The implementation of the National Development Planning Congress 2016 is also being streamlined to make it more effective by taking into account the aspirations of the regions, he emphasized.

    Starting this year, the ministry will, in stages, hold discussions with the regional governments to optimally prepare the Government Working Plan 2018.

    The government will change the planning system from “money follow functions” to “money follow programs.”

    “The money follow functions” system had resulted in the creation of several duplicate programs, he pointed out.

    “The Government Working Plan 2017 will implement the money follow programs,” the minister stated.

    He also shed light on the allocation of special funds for infrastructure development in various regions.

    By following the presidential instructions in certain provinces, the funds will be utilized to develop special economic zones, boost the tourism industry, and realize food sovereignty.

    The Government Working Plan 2017 will also include the promotion of mental revolution, legal enforcement, and disciplinary measures to ensure balanced physical and non-physical development.

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  • Vietnam coffee-sales steady; buyers await Indonesia arrivals

    Vietnam coffee-sales steady; buyers await Indonesia arrivals

    Vietnam’s coffee sales may pick up if prices maintain their recent uptrend, but buyers are likely to await the upcoming harvest in Indonesia for better deals on fresh arrivals, traders said on Tuesday.
    Coffee exports this month from the world’s biggest robusta producer are forecast to be in a wide range of 120,000 to 160,000 tonnes (2.0 million and 2.67 million 60-kg bags), versus an estimated 160,000 tonnes in April, traders said.
    The ICE July robusta contract has risen nearly 4 percent so far this month to $1,649 a tonne, and Vietnamese robusta prices also gained 2.4 percent in domestic markets during the same period.
    Robusta prices on Tuesday rose to 35,400-35,500 dong ($1.59) per kg in Daklak, Vietnam’s biggest growing province, from 34,800-34,900 dong a week ago, and 34,600 dong at the end of April.
    Prices eased slightly from 35,600-35,900 dong per kg on Monday, of which 35,900 dong was the highest level since Nov. 12, 2015, according to Reuters data.
    “The trend is that prices are rising and if it stays that way, more selling is expected this month,” said Phan Hung Anh, deputy director of export firm Anh Minh in Daklak.
    Traders said buying demand has been steadily declining, given that Vietnam has supplied a significant volume of coffee to the world so far in the current 2015/2016 season.
    The country exported an estimated 976,200 tonnes between October 2015 and last month, up 27.4 percent from a year ago, based on government statistics.
    “Buyers are waiting to see Indonesia’s crop arrivals, and prices of the fresh beans (there) may become more attractive,” Anh said.
    As futures prices edge up, premiums of Vietnamese robusta grade 2, 5 percent black and broken eased to $30-$40 a tonne to the July contract this week, from premiums of $50-$55 a week ago.
    The coffee crop harvest in Vietnam’s rival – Indonesia – is expected to pick up pace in June, about a month later than usual, due to El Nino-related dry weather.
    Indonesia’s 2016/2017 coffee output is forecast to drop around 9 percent as compared with last year to 9.65 million bags, while Vietnam’s output could edge up 3 percent to 29.14 million bags, BMI Research, a Fitch Group company, said in a report in late April.
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  • SK Telecom signs MOU with Telkom Indonesia

    SK Telecom signs MOU with Telkom Indonesia

    SK Telecom today announced that it signed a Memorandum of Understanding (MOU) with Telkom Indonesia (PT Telekomunikasi Indonesia), the largest telecommunications services company in Indonesia, to cooperate in new business areas including IoT, media and smart products/Lifeware.

    The MOU signing ceremony took place at Telkom headquarters located in Jakarta, Indonesia on May 12, 2016, and was attended by Lee Eung-sang, Executive Vice President and Head of Global Business Division of SK Telecom, and Indra Utoyo, Chief Innovation Strategy Officer of Telkom.

    Under the MOU, the two companies will work together to develop new business opportunities in the areas of smart city and IoT services. To this end, SK Telecom plans to introduce to Telkom its IoT platform ThingPlug and share its knowhow in deployment and operation of LoRa networks with the aim to jointly develop IoT technologies and services that are tailored to the Indonesian market/customers. Building on this, the two companies will also discuss the idea of building a joint venture for their IoT business within the next two years.

    SK Telecom and Telkom also agreed to collaborate in the development of cloud-based TV services/solutions for Telkom customers by utilizing SK Telecom’s media solution ‘Cloud Streaming.’

    Furthermore, the two companies agreed to work together to introduce SK Telecom’s laser pico projector ‘UO Smart Beam Laser’ to the Indonesian market. Going forward, SK Telecom plans to join hands with PINS, Telkom’s distribution subsidiary, to launch more UO-branded products – including UO Smart Beam 2 (pico projector) and UO Linkage (portable Hi-Fi audio) – in Indonesia.

    “Through the MOU, SK Telecom will work closely with Telkom to develop mutually-beneficial business opportunities in diverse areas including IoT, smart city and media,” said Lee Eung-sang, Executive Vice President and Head of Global Business Division of SK Telecom. “Building on this partnership, the two companies will continue to make joint efforts to expand their presence beyond the Indonesian market.”

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  • XL Axiata to form JV with Indosat Ooredoo

    XL Axiata to form JV with Indosat Ooredoo

    Indonesia’s XL Axiata has revealed it will enter a joint venture with Indosat Ooredoo to provide consultancy services in future network collaboration between the two operators.

    The JV, PT One Indonesia Synergy, will be 50-50 owned by the two companies.

    In a statement to the Bursa Malaysia, XL parent Axiata Group said it is expected that the joint venture will “provide consultancy services in future network collaboration. The transaction parties are in the process of jointly exploring the possibility of entering into such a collaboration.”

    XL Axiata and Indosat Ooredoo agreed in January to share 4G infrastructure in several cities as a possible first step towards the long-discussed plans to form such a network sharing agreement.

    Indonesia’s telecom ministry has also been pressuring the nation’s ten mobile operators to merge or jointly deploy networksto address crowding in the market, although this mainly applies to the smaller mobile operators struggling to compete with Indosat, XL and rival Telkomsel.

    The stock market statement adds that the forming of the JV is not expected to have a material impact on the group’s financial results for the current year.

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