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  • IMF Chief visits Indonesia with some advices

    IMF Chief visits Indonesia with some advices

    Christine Lagarde, the managing director of the International Monetary Fund, said on Tuesday (27/02) the global economy was showing broad-based growth, but the landscape was shifting with heightened risks of trade disputes, monetary policy normalization and technological change.

    Lagarde, speaking to an IMF conference in Jakarta in preparation for the Fund’s annual meetings in Bali in October, said the IMF was expecting global growth to reach 3.9 percent in 2018 and 2019. This is unchanged from the IMF’s forecast in January and up from 3.7 percent in 2017.

    She said Asean countries were preparing for higher interest rates in advanced economies such as the United States and Europe, but cautioned that policymakers need to stay vigilant about its effect on financial stability and volatile capital flows.

    “We know this will have spillover effects across the world. We have known for some time that it’s coming,” Lagarde said. “It remains uncertain how this transition is going to affect other countries, companies, jobs, incomes.”

    Asean countries need to embrace new growth models that put a greater emphasis on domestic demand, regional trade and economic diversification and prepare for technological changes such as increased factory automation, artificial intelligence, biotechnology, new financial technologies and digital currencies.

    While these could eliminate some jobs, it was important for countries to boost efforts to educate workers to better prepare them to take advantage of new technologies.

    “Many jobs will be affected one way or another. Some of them will disappear, but many more will be affected because of automation. So we need to think about the future of work,” Lagarde said, adding that there was no single approach, and many countries will forge their own path.

    She highlighted Go-Jek, the fast-growing ride-hailing and delivery service in Indonesia, as an example of a country-specific technology innovation targeted to the country’s needs and workforce.

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  • More funding comes for Go-jek Indonesia

    More funding comes for Go-jek Indonesia

    Go-Jek has raised a higher than targeted $1.5 billion in a fundraising round from a dozen investors, including BlackRock and Google, as the Indonesian ride-hailing firm builds its war chest to fight deep-pocketed rivals.

    Go-Jek had planned last year to raise $1.2 billion, and, with the 25 percent extra funds it has received, it is now valued at about $5 billion.

    Reuters Breakingviews said last month that Go-Jek was valued at roughly $4 billion compared with over $6 billion for Grab, Southeast Asia’s largest ride-hailing firm.

    The additional funds and backing of well-known investors, including Singapore’s Temasek Holdings and Chinese technology giant Tencent Holdings, will help Go-Jek to better compete in Southeast Asia’s cut-throat market where incentives to drivers and passengers are used to build loyalty.

    Singapore-based Grab was expected to have raised $2.5 billion last year and Uber Technologies has pledged to invest aggressively in Southeast Asia – home to 640 million people – even though the US firm expects to lose money in the fast-growing market due to costly battles with rivals.

    Both companies are expanding in Indonesia, Southeast Asia’s most populous country, where Go-Jek, a play on the local word for motorbike taxis, is transforming the local economy, economists say.

    Go-Jek and Grab are also investing heavily in expanding their mobile payments platform.

    “Go-Jek is far beyond a ride-hailing app, it’s a digital platform that dominates consumers’ daily lives, including transportation, food delivery, logistics, and payment, etc.,” said Xiaofeng Wang, senior analyst at consultancy Forrester.

    “That’s also the key value that its key investors like Google and Tencent see. They know well about the power of the digital ecosystem, and Go-Jek has built it in Indonesia, like Google in the US and WeChat in China,” Wang said.

    Go-Jek told Reuters that some investments that came in this year were part of the funding round that kicked off last year but it declined to comment on the amount raised or the names of investors.

    It said the funding was aimed at developing technology for micro, small and medium enterprises in Indonesia.

    Go-Jek delivers everything from meals and groceries to cleaners, masseuses and hairdressers across Indonesia’s capital city Jakarta, all at the touch of a smartphone app – helping it become a crucial workaround in a city with some of the worst traffic in the world.

    Rumours said BlackRock and Temasek are investing about $100 million each in Go-Jek’s latest fundraising.

    BlackRock declined to comment. A Temasek spokesman confirmed participation in the fundraising but declined to say how much it had invested.

    This month, Indonesian conglomerate Astra International said it would invest $150 million in Go-Jek, while  Djarum Group’s Global Digital Niaga is putting in $100 million.

    Go-Jek’s payment system, known as Go-Pay, has emerged as one of the most popular mobile payment platforms in Indonesia. Grab, which bought Indonesian payment service Kudo last year, also sees its future in mobile payments as much as in transport.

    Go-Jek is expanding in other Indonesian cities and has said it plans to start operations in the Philippines this year, followed by other Southeast Asian countries.sou

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  • Bali ready to welcome more tourists

    Bali ready to welcome more tourists

    Indonesian private-sector company Bandara Internasional Bali Utara plans to build a new international airport in northern Bali to accommodate growth in foreign tourist arrivals.

    The airport will be built offshore to avoid interference with rice fields, temples and villages.

    Bali receives around 6 million foreign tourists annually, with most visiting the southern part of the island where the only international airport is located.

    Bali Governor I Made Mangku Pastika has met with President Joko “Jokowi” Widodo on several occasions and they have agreed to build a new airport in Bali on a reclaimed island off Buleleng district.

    “One advantage of building an airport offshore is that we do not need to waste time on land acquisition, which is often very expensive,” Freddy Numberi, a former environment minister and now strategic advisor to Bandara Internasional Bali Utara (BIBU), said at a press conference in Jakarta on Thursday (22/02).

    The project is currently awaiting approval by the Ministry of Transportation.

    BIBU is partnering with Airports Kinesis, a Canada-based airport development consulting company, which also helped design Kertajati Airport in West Java.

    “Bali’s northern airport will be funded privately by investors from Canada and the Middle East, involving a total investment of $2 billion,” said Shad Serroune, chief technical officer at Airports Kinesis.

    Beside opening opportunities for overseas investors, BIBU also hopes to attract local investors who may be interested in the project.

    “Basically, we’re open to anyone who wants to inject money into this project, even the regional government,” BIBU operations director Tulus Pranowo said.

    “But at the moment, we’re purely a privately owned company,” he said, confirming that they plan to build the airport without funding from the state budget.

    Responding to a question of when the airport construction project will break ground, Tulus said BIBU was still waiting for the Transportation Ministry to stipulate the exact location before the company will proceed to the next step.

    According to the Transportation Ministry, Bali’s Ngurah Rai International Airport can only accommodate 17 million arrivals per year, while the provincial government hopes to attract 35 million to boost tourism development.

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  • Ferrari optimistic about Indonesian sales

    Ferrari optimistic about Indonesian sales

    Citra Langgeng Otomotif, Indonesia’s authorized Ferrari distributor, is optimistic about its sales prospects this year as it continues to strengthen its presence within its specific target market, which has remained relatively immune to the sluggish growth of the the country’s automotive industry.

    The company’s CEO, Arie Christopher, said Ferrari had personally approached its existing and prospective customers to increase the exclusivity of its brand.

    One of the aspects of its exclusivity is maintaining the confidentiality of prices of Ferrari’s vehicles in Indonesia, which are discussed solely between the company and its customers.

    “So far, we are still on track in sales,” he told on Saturday, declining to disclose the sales value recorded in 2017.

    Indonesia’s car sales stood at 1.08 million units in 2017, a mere 1.6 percent growth over the previous year, according to data from the Indonesian Automotive Manufacturers Association (Gaikindo) show.

    On Saturday, Ferrari Indonesia showcased the California T “Superameric,” with livery number 16 and the 488 GTB “Test Driver” with livery number 63 to promote the manufacturer’s global tailor-made customization program.

    The tailor-made program allows customers to customize the interior and exterior appearances of their new Ferraris.

    Arie said the company had delivered 20 tailor-made customized Ferrari cars to Indonesian customers, with six of them agreeing to sign up with the program.

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  • Vietnam auto imports plummet over Government’s Decree 116

    Vietnam auto imports plummet over Government’s Decree 116

    Automobile imports in Việt Nam plummeted in the first month of 2018, also the time before Tết (Lunar New Year) holiday.

    Only 337 cars of all kinds were shipped to the country, according to data of the General Department of Customs.

    Of the imports, there were only 17 passenger cars with nine seats or less, amounting to US$567,000. Notably, no cars were imported from Indonesia and India.

    In 2017, Indonesia was among the top countries after Thailand with the highest number of exported cars to Việt Nam. India too had a relatively large number of exported vehicles in 2016. However, in January this year, both the countries did not export any car to Việt Nam. Meanwhile, Thailand lost its recognition as the largest import car market in Việt Nam, with only 36 vehicles exported to the country since the beginning of the year.

    Among the automobile export markets to Việt Nam in January 2018, Russia suddenly rose to the top, with 159 vehicles being exported, worth VNĐ274 billion (US$12.03 million), equivalent to VNĐ1.7 billion each. Under a deal on autos signed between Minister of Industry and Trade Trần Tuấn Anh and the Russian Ambassador to Việt Nam Konstantin V.Vnukov in Hà Nội  in December last year, Russia’s joint ventures in Việt Nam are allowed to import duty-free 2,550 complete built-up units and 13,500 sets of automobile parts from 2018 to 2022 as a way of exploring the capacity and tastes of the market.

    China (65 cars) and the United States (42 cars) ranked second and third in exports, respectively.

    According to The Jakarta Post, Indonesia’s four-wheel car manufacturers face a bleak future in exports following a new regulation of Việt Nam, which is poised to build its own automotive industry.

    The Vietnamese Government in November issued Decree No. 116/2017/ND-CP on car manufacturing, assembly, importation and warranty offering, a move that came into effect from January 1, 2018, and tightened car imports. According to Vietnamese Ministry of Industry and Trade (MoIT), Decree 116 is a supportive measure for domestic companies as it sets up a number of technical barriers to limit the import of cars. The decree comes at a time when the import tax of automobiles from within the ASEAN bloc is zero per cent, which also became effective from January 1, 2018.

    Under the decree, car importers in Việt Nam are required to obtain a Vehicle Type Approval (VTA) certification, which details the imported vehicles’ quality, safety and environmental protection. The VTA must be issued by authorities in exporting countries. In addition to this, one sample will be selected from every batch of imported cars for emission, quality and technical safety tests. The inspection will be repeated in the next shipment, even on the same car models.

    “The new rule creates additional costs; a complete inspection may take one to two months, while other cars from the shipment will have to stay at the port and be charged daily for storage,” Kukuh Kumara, Indonesian Automotive Manufacturers Association (Gaikindo) secretary-general said.

    The new rule prompted Gaikindo to send a letter to the MoIT on January 27. The letter claimed that four automakers—Toyota, Suzuki, Daihatsu and Hino—had stopped the planned production of 9,337 vehicles bound for Việt Nam. The units were supposed to be manufactured in the December-March period.

    Kukuh said that Indonesia sent some 30,000 cars to Việt Nam annually, with the four automakers being the biggest exporters.

    According to data of the Central Statistics Agency, Indonesian passenger car exports to Việt Nam from January to November last year was valued at $241.2 million, up significantly from $17.78 million in 2016. Indonesia is also ranked among the top three passenger car exporters to Việt Nam, along with Thailand and China, with a market share of 13.12 per cent.

    Oke Nurwan, international trade director general at Indonesia’s Trade Ministry, said if manufacturers were reluctant to export their cars to Việt Nam, Indonesia could lose some US$85 million between December and March.

    He said the Indonesian government had decided to take a soft approach on the matter by sending on February 26 a delegation to lobby with its Vietnamese counterpart.

     

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  • Nature Republic opens store in Indonesia

    Nature Republic opens store in Indonesia

    South Korean cosmetics company Nature Republic opens its first outlet in Indonesia.

    Nature Republic speeds up to expand overseas market. The store is in a Jakarta shopping mall and registered 100 million won (US$94,000) in sales on its pre-opening day,  the Seoul-based company said.

    Indonesia is the fourth largest country in the world and is considered the next big thing after China.

    The economy continues to grow at a rate of 5% and has more potential to growth. As about 90% of the population is Muslim, the world’s largest Muslim country, the company plans to establish a bridgehead for the Middle East and other Muslim markets.

    In order to enter Indonesia, the company has been thoroughly prepared for one year including local market analysis and product pre-registration.

    The company focused on product selection, reasonable price, and all-round marketing strategy, and online marketing considering the characteristics of the country.

    Jakarta shopping mall, chose by Nature Republic to open the store, is main shopping area for Muslim Indians.

    In particular, young people from 10s to 20s who are interested in Korean culture such as K-pop and K-beauty visit the store. The company is targeting young customers to raise brand awareness and stabilize the local market.

    “We will expand our presence in the overseas market, including the Middle East and Europe, in the long-run, with Indonesia as our outpost,” the company said.

    Nature Republic plans to operate up to 10 outlets in Indonesia by the end of this year.

    The company has stores in 17 countries, including China and Vietnam.

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  • The Bitcoin Party is Over. The Blockchain Party has just Begun.

    The Bitcoin Party is Over. The Blockchain Party has just Begun.

    Confidence in cryptocurrency markets may have taken a major hit in recent weeks, but the same cannot be said of the value of the technology it relies on – the blockchain. Bitcoin’s price plunged this week to less than US$11,000, from almost US$20,000 in mid-December, after South Korea announced that all anonymous accounts, foreigners without local banking services and minors would be banned from trading on exchanges from January 30.

    But, particularly in Southeast Asia, much confidence remains that the blockchain technology underlying bitcoin can be adapted to drive development in everything from bank remittances to electoral rolls and health care records.

    Essentially, a blockchain is a digital ledger – a continuously growing list of records, called blocks, that are designed to be resistant to modification. Blockchains enable information to be shared in peer-to-peer networks, and because the data in any given block cannot be altered without altering all subsequent blocks, they are secure against fraud.

    It’s this quality that has raised hopes it can be adapted for a wide range of uses beyond the financial sector. In Singapore, the monetary authority has launched extensive blockchain research efforts, while its members have formed a blockchain-based trading network with Hong Kong, to be rolled out early next year.

    Indonesia’s Central Bank is following Singapore’s lead with its own research programmes, according to Eni Panggabean, head of payment system policy and the oversight department.

    “There is nothing wrong with the blockchain technology and it can be utilised in various sectors,” she said, adding that research was still in its early stages.

    Malaysia, meanwhile, is seeking to develop global blockchain standards with industry groups predicting the technology will be in widespread use by 2025. In Australia, the government has invested A$8.6 million (US$6.9 million) into a blockchain project by Perth company Power Ledger, in which energy is exchanged between households during periods of excess or shortage.

    And even in the midst of South Korea’s clampdown on bitcoin, the science and technology minister Yoo Young-min has gone on record as saying that blockchain should be considered quite separately from the volatile trading scene.

    Rob Hanson, senior research consultant at Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO), said blockchain’s potential was “fundamentally as an anti-fraud tool”.

    “Blockchain is a term charged with excitement and confusion,” Hanson said. “It is a technology that lets anyone record transactions in a way everyone can see and trust … For governments, the obvious areas to focus blockchain research on are those where it would produce the greatest public good.”

    Southeast Asia is ripe for such innovations.

    “In Vietnam, health care records are a key area that blockchain could disrupt in public services,” said Nicole Nguyen, head of corporate marketing at Infinity Blockchain Labs in Ho Chi Minh City. “Regulation technology is also an area that government is very excited about.”

    Blockchain technology could also be used to host government registries, improve supply chain visibility and efficiency – especially in archipelago countries like Indonesia and the Philippines – and speed up international remittance payments, according to a CSIRO research paper.

    And Steven Suhadi, chief executive of Jakarta-based blockchain start-up Blocktech, said it could boost traceability and transparency across governmental agencies, potentially helping with anti-corruption efforts.

    Even so, multiple challenges remain before blockchain can achieve widespread adoption.

    On a government level, Hanson said more research was needed to develop adequate regulation that ensured the technology was efficient and did not “erode trust and confidence in the democratic process – which ironically is what a blockchain would be trying to strengthen”.

    “Blockchain uses a lot of computer power in order to create the trust we value. These costs are hidden in systems like bitcoin because of the cryptocurrency reward paid to the people who provide their computers for this purpose,” he said.

    Hanson said authorities needed to decide whether they were going to use a public network of computers to support their blockchains, or run all the computers themselves.

    He urged governments not to act too hastily to adopt the technology.

    “The problem with the amount of excitement around blockchain is that people are treating it like a silver bullet and are more interested in finding a use for blockchain than in finding the best way to solve the problems they face,” he said. “There should be a good reason for using a blockchain, and that reason should not be because other people are using it and you don’t want to miss out.”

    For Nguyen, blockchain’s supporters must also overcome the uncertainty generated by the recent cryptocurrency trading frenzy – and the heavy-handed reaction from countries such as South Korea.

    The adoption of cryptocurrency, that would affect the blockchain industry,” she said. “But on the other hand, it could make more people intrigued by the ecosystem itself and deploy this tech for other applications. That’s where the magic of blockchain would kick in.”

  • Indonesia and Singapore to boost cooperation in investment and vocational education

    Indonesia and Singapore to boost cooperation in investment and vocational education

    Indonesia and Singapore have agreed to boost cooperation in investment and vocational education, especially in the industrial sector, with Indonesia offering the development of three industrial estates to Singapore.

    Indonesia’s Minister for Industry Airlangga Hartarto said on Monday (Feb 19) that Indonesia has encouraged Singapore to continue developing industrial parks in North Kalimantan, North Sumatra and North Sulawesi, with an integrated concept similar to that in Kendal Industrial Park in Semarang, Central Java.

    The park, which was launched by Prime Minister Lee Hsien Loong and President Joko Widodo in 2016, has attracted 39 companies so far, with a total investment of US$360 million, and employed more than 1,950 people. It is a joint venture between developers from Singapore and Indonesia.

    The companies are from various industries – from furniture to food packaging. A polytechnic in the industrial park to produce trained workers to support the project is also almost completed.

    “Singapore is one of the neighbouring countries that have a strategic role towards the interests of Indonesia and the region,” Minister Airlangga was quoted as saying.

    His comments came after a visit by Singapore Foreign Minister Vivian Balakrishnan last week, where he met several officials, including his Indonesian counterpart, Retno Marsudi, Jakarta Governor Anies Baswedan and the Industry Minister.

    Minister Airlangga said that during the visit, he discussed the Bilateral Investment Treaty and negotiated a renewal of the Double Taxation Agreement with Dr Balakrishnan.

     

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  • Unilever Lays Bare Palm Oil Supply Chain in Rare Industry Move

    Unilever Lays Bare Palm Oil Supply Chain in Rare Industry Move

    Consumer goods giant Unilever said on Friday (16/02) it had laid bare its entire palm oil supply chain, including all the suppliers and mills it sources from, to boost transparency in a rare industry move.

    Unilever said it was the first consumer goods company to publish such details, having disclosed the location of more than 1,400 mills and over 300 direct suppliers of the oil used in products from snacks and soaps to cosmetics and biofuels.

    The $62 billion palm oil industry has been plagued by concerns about deforestation and human rights abuses in countries such as Indonesia, the world’s biggest producer.

    Marc Engel, Unilever’s chief supply chain officer, said the company hoped sharing the information would be the start of a new industry-wide movement toward supply chain transparency.

    “Unilever believes that complete transparency is needed for radical transformation,” Engel said in a statement posted on Unilever’s website.

    “This is a big step toward greater transparency, but we know there is more work to be done to achieve a truly sustainable palm oil industry and we will continue our efforts to make this a reality.”

    Unilever said transparency and the ability to trace palm oil are vital in addressing deforestation and human rights abuses.

    Palm oil supply chains are complex as the fruit changes hands many times from farmers to agents before it reaches a mill. It is then transported via traders to refineries for further processing, when it enters a company’s supply chain.

    Over the past decade, consumer activist groups have pressed big palm oil buyers such as PepsiCo, Unilever and Nestle with supermarket boycotts and other protests over palm oil’s perceived links to deforestation and human rights abuses.

    PepsiCo last month suspended procurement from a palm oil supplier over claims of labour abuses on its Indonesian plantations.

  • Indonesia Not Yet Ready for the Automated Era

    Indonesia Not Yet Ready for the Automated Era

    The government must prepare Indonesia’s workforce to be competitive to anticipate future challenges associated with coming technological advancements, especially in business, a former deputy foreign minister said on Sunday (18/02).

    The 4th Industrial Revolution (4IR) will inevitably bring changes in the economy and social structure due to exponentially expanding technological advancements, said Dino Patti Djalal, the former deputy foreign minister and also the founder of the Foreign Policy Community of Indonesia (FICP).

    According to Dino, jobs will face the greatest disruption from technology and is one of the major challenges expected to come about as a result of the advent of the 4IR. Automation, advanced robotics and artificial intelligence are expected to replace millions of existing jobs.

    Recently, around 10,000 toll road personnel in Jakarta were laid off after the government began to employ cashless transactions on major roads in the capital city.

    “Based on data from [global consultant] McKinsey, by 2050, hundreds of millions of people around the world will lose their jobs; that will occur mostly in China, which is expected to lose over 200 million jobs,” Dino said in a speech at the 21st Supermentor event hosted by FICP in Jakarta.

    According to state-owned China Central Television news network, Yangshan deepwater port in Shanghai, the world’s busiest container port, in December last year conducted trials on 100 pieces of intelligent equipment, including 50 driverless automatic guided vehicles, to handle cargo.

    Qingdao New Qianwan Container Terminal in China became Asia’s first automated port terminal in May last year. The port reduced the amount of workers required to unload a cargo ship from 60 to nine.

    Highly skilled workers will benefit from the technological changes but low skilled workers will have to compete with automated processes, Dino said.

    While Indonesia seems to have a long way to go before a fully automated workplace becomes commonplace, the government should start preparing to create a balance between the workforce and profitability to avoid job loss. New approaches to education are expected to rein more innovative solutions to 21st-century workplaces.

    “Nothing will change much regarding community empowerment if there is no change in education to adapt to the technology, which is currently thriving at full speed,” Dino said.

    Erik Meijer, president director of telecommunications company TelkomTelstra, said the technology utilization in jobs will increase safety as it reduces the risk of human error.

    According to Erik, jobs available over the next 10 years will be divided into “personal areas,” such as nurse practitioners, physical therapists and personal financial advisers, and “science,” which will include jobs like cybersecurity experts, developers and network engineers. Meanwhile, assembly line workers, service jobs and administrative jobs will ultimately be replaced.

    “We must be aware of the skill shifts needed in the digital era to get opportunities from technology and not be sidelined,” Erik said.

    Speakers at the event included other influential figures, including Dato Sri Tahir, founder of Mayapada Group and Tahir Foundation, and Tony Fernandes, chief executive of budget airline group AirAsia.

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  • Indonesia Posts 670m Trade Deficit January highest since april 2014

    Indonesia Posts 670m Trade Deficit January highest since april 2014

    Indonesia posted a $670 million trade deficit in January as increased exports were offset by higher imports of raw materials by manufacturers, the Central Statistics Agency, or BPS, reported on Thursday (15/02).

    The deficit is the highest since April 2014, having increased from December’s $220 million deficit, which was revised down from $270 million. Indonesia only posted trade deficits in July and December last year.

    Exports increased 7.86 percent year on year in January to $14.46 billion, compared with 6.93 percent year on year in December, thanks to mining and manufactured goods. This figure however, is down 2.81 percent from December.

    According to BPS head Suhariyanto, prices of some commodities, such as copra and palm kernel oil, have declined, undermining export gains from rising coal and nickel prices.

    Imports jumped 26.44 percent year on year in January to $15.13 billion, compared with 17.83 percent year on year in December, due to purchases of electrical and mechanical machinery. This figure is 0.26 percent higher than in December.

    The imports of raw materials increased 2.34 percent in January, compared with a month earlier, while imports of consumer and capital goods declined by 1.46 percent and 7.39 percent, respectively.

    However, the imports of consumer goods, capital goods and raw materials showed double-digit growth on an annual basis, at 32.98 percent, 30.9 percent and 24.76 percent, respectively.

    Indonesia had its biggest trade deficits with China ($1.83 billion), Thailand ($211.4 million) and Australia ($178.2 million).

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  • All International Flights From Jakarta Move to Soekarno-Hatta’s Terminal 3

    All International Flights From Jakarta Move to Soekarno-Hatta’s Terminal 3

    Soekarno-Hatta International Airport, Indonesia’s largest and busiest hub near Jakarta, by June will move all international flights to Terminal 3.

    The terminal was opened in August, after three years of construction works to expand it, which cost Rp 7 trillion ($516 million). It is now significantly bigger than the other two terminals.

    It can serve up to 25 million flights a year, spans 420,000 square meters and is 2.4 kilometers long.

    “We’re are going to have all international flights moved to Terminal 3 by June,” Yado Yarismano, vice president of the airport’s operator Angkasa Pura II (AP II), said on Wednesday (14/02).

    He added that now, when all expansion works are complete, the terminal needs to be assessed by the Transportation Ministry’s directorate general of civil aviation to serve all international flights.

    Revamp of Terminal 1 and Terminal 2

    The airport’s Terminal 1 and Terminal 2 will also be expanded to accommodate together 36 million passengers a year — twice more than before.

    Contractors will soon be invited to bid to partake in the Rp 3.2 trillion project.

    “The bidding for Terminal 1 starts in March, while for Terminal 2 in May, so construction works at the first one will start sooner,” AP II president director Muhammad Awaluddin said.

    He added that both terminals will be finished by August 2019.

    “The revamp won’t disrupt our operations, as it will be done in sections, so the terminals will still serve passengers. We also won’t change their architecture, we will just add more room,” Awaluddin added.

    AP II is now also preparing to build Terminal 4 of the size and capacity of Terminal 3.

  • Aidijuma Colors Group, Hijup, acquire majority stake in United Kingdom’s e-commerce retailer, Haute Elan

    Aidijuma Colors Group, Hijup, acquire majority stake in United Kingdom’s e-commerce retailer, Haute Elan

    Aidijuma Colors Group of Companies — which owns the popular Malaysian ‘Bawal’ hijab range under the Aidijuma label — together with its modest wear e-commerce site Hijup have acquired a majority stake in UK-based modest fashion and e-commerce company Haute Elan ahead of Hijup’s expansion into the UK market.

    Established in 2012, modest fashion brand Aidijuma adopts the creative business model of online merging offline to offer the best possible experience to customers.

    With its omnichannel strategy, Aidjuma is the only brand in Malaysia that offers online shopping and owns 12 retail concept stores nationwide, complemented by 12 Scarf Machine.send.sell.story mobile concept stores to provide a seamless experience for consumers.

    With plans for listing by 2020, the latest venture capital investment for Aidijuma Colors Group is in Haute Elan, which is also the organiser of the London Modest Fashion Week – the UK’s very first modest fashion week — that was held for the first time last year that brought together more than forty designers from countries including the United Arab Emirates, Saudi Arabia, Egypt, Turkey and -Malaysia.

    Modest fashion has become increasingly popular among millennial Muslim women worldwide who see it as a way to dress stylishly.

    “Modest fashion is a growing trend that offers women options, choices and freedom to express themselves while being fashionable which mass-market retailers and designers are already taking notice of the market’s potential so we are investing in the future by taking a stake in it now. We look forward to build strategic business partnerships around the world to expand this business model for Modest Fashion globally,” said Aidijuma Colors Group Chief Executive Officer and founder, Datin Norjuma Habib Mohamed.

    The latest investment in Haute Elan brings Aidijuma Colors Group’s total venture capital investment amount to date to US$20 million, which includes stakes in Brunei’s event organising company and retailer BIFASH, Singapore e-retailer MODESTyle, Malaysian cosmetic and skincare brands Simplysiti and Zawara, as well as Indonesia’s Hijup.com in which it also controls.

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  • Indonesia signs US$1b deal to buy 11 Russian jets

    Indonesia signs US$1b deal to buy 11 Russian jets

    Indonesia has inked a billion-dollar deal to buy 11 Sukhoi Su-35 jets from Russia, an official said Saturday.

    The contract, signed by both countries’ representatives in Jakarta on Wednesday, is worth a total US$1.14 billion (RM4.43 billion), Indonesia defence ministry spokesman Totok Sugiharto said.

    The deal comes after Indonesia said in August that it would seek to trade palm oil, coffee and tea for Russian fighter jets, saying it wanted to capitalise on international sanctions on Moscow.

    The EU and US have targeted Russia with sanctions for alleged meddling in the US presidential election and its annexation of Crimea.

    However, Indonesia’s trade minister said the sanctions could be good news for his country as Russia is forced to seek new markets to import from.

    Indonesia and Russia signed a memorandum of understanding to exchange 11 Russian-made Sukhoi fighters for key commodities in Moscow early August.

    It was not announced Saturday in what form payment would be made.

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  • DHL appoints Skerry Palanga as new Country Manager in Papua New Guinea

    DHL appoints Skerry Palanga as new Country Manager in Papua New Guinea

    DHL Global Forwarding, the leading international provider of air, sea and road freight services, has appointed Skerry Palanga as Country Manager, Papua New Guinea. With the appointment, Palanga will lead and manage the country’s operations and be responsible for driving its business growth.

    Prior to this appointment, Palanga was the National Operations Manager where he was instrumental in the set-up and transportation of telecommunication equipment for the first mobile network in Papua New Guinea. While directing the mammoth project, Palanga managed the entire logistics solution which covered numerous sites across the country. During his 14-year tenure in DHL Global Forwarding, Palanga had also successfully established the operations in Port Moresby and Lae which has remained sustainable today.

    Kelvin Leung, CEO, DHL Global Forwarding, Asia Pacific, said, “A veteran freight forwarding professional, Skerry has built a wealth of experience and first-hand knowledge of day-to-day operations — having risen through the ranks in DHL over the last 14 years.  His appointment to this new role is a valuable addition to DHL, as we continue to expand our footprint in Asia Pacific. With his strong knowledge of the country, I’m confident that Skerry will bring with him the agility and flexibility needed to help us realize this market’s full potential, amid the anticipated growth in freight volumes.”

    Based in Port Moresby, Papua New Guinea, Palanga will report to Tony Boll, CEO, DHL Global Forwarding, South Pacific.

    Tony Boll, CEO, DHL Global Forwarding, South Pacific, said, “We are delighted to welcome Skerry onboard as we further our growth momentum in Papua New Guinea. We have every confidence that Skerry will continue to drive great business outcomes — supported by his extensive industry experience and in-depth knowledge of the local business culture. We look forward to achieving new and greater heights in this market, as we continue to capitalize on rich growth opportunities within the South Pacific region.”

    Skerry Palanga, the newly-appointed Country Manager for Papua New Guinea, DHL Global Forwarding said, “I am excited to lead the charge in nurturing our business in Papua New Guinea — a market that presents tremendous opportunities. I believe that my keen appreciation of the local culture and business practices will be a strong asset in guiding DHL’s growth in the country. Our biggest achievements are ahead of us — and I look forward to delivering the highest standards of excellence to our customers, with the support of a talented and committed team.”

    A citizen of Papua New Guinea, Palanga brings over 16 years of industry experience across various roles within the logistics industry. Since starting with Danzas AEI in 2001, Palanga has accumulated 14 years of experience with DHL. In his various roles at DHL that included Air Freight Export Supervisor and Air Freight Export Manager, Palanga has been involved in different aspects of the business — operations, sales, finance and human resources.

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