Investment and Risk
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Erick Thohir promises IDR 80.2 trillion dividend for the state, largest in Indonesian history
Erick Thohir, Minister of State-owned Enterprises (SOEs), is ready to pay SOE dividends to the state. The amount according to Thohir, reaches up to IDR 80.2 trillion (US$ 5.5 billion), which is the largest in Indonesian history. Meanwhile, the consolidated net profit of SOEs is predicted to reach IDR 303.7 trillion. However, there is no exact date as to when the dividends will be disbursed.
Yuan becomes the most-used currency for cross-border transactions, leaving US Dollar behind
The Chinese currency, the Yuan, has finally succeeded in dethroning the US dollar as the most widely used currency for cross-border transactions in March 2023. This success reflects the efforts by Beijing to internationalize the use of the Yuan.
Krakatau Steel export 30,000 tons of steel to Italy, records highest surplus in Indonesia's history
The largest state-owned steel company in Indonesia, PT Krakatau Steel (Persero) Tbk, successfully exported 30,000 tons of Indonesian steel to the Italian market. Steel commodity is currently the third largest export commodity in Indonesia.
GoTo cancels convertible bonds issuance plan amid investor concerns
GoTo, one of Indonesia's largest listed tech majors, cancelled its plan to use funds from convertible bond issuance worth US$ 500 million. As reported by Bloomberg, GoTo has concerns regarding the debt sale which could send a conflicting message to investors.
Bitcoin might reach US$ 100,000 in 2024, said Standard Chartered analyst
According to Standard Chartered, the so-called crypto winter is over. As a result, one of the top cryptocurrency, Bitcoin, could reach a whopping value of US$ 100,000 by the end of 2024.
Malaysia-based company acquires mini hydro-power plant in North Sumatra
KAB Energy Holdings Sdn Bhd, a subsidiary of Kejuruteraan Asastera Bhd (KAB), a Malaysian company, has received approval from its shareholders to acquire a mini hydro-power plant in Indonesia.
Indonesia's debt reached IDR 7,9 trillion in March 2023, still safe compared to other countries
As of March 2023, the Indonesian government debt had reached IDR 7,879.07 trillion (US$ 475,640.2 million). Compared to February 2023, the number increased by IDR 17.38 trillion from the previous IDR 7,861.69 trillion. However, it is still considered safe compared to other countries' debt.
UOB and Lazada collaborates in enhancing the digital ecosystem in Southeast Asia
One of the leading banks in ASEAN, UOB, and one of the biggest ecommerce platform, Lazada Group, have entered into an agreement based on a Memorandum of Understanding (MoU) to collaborate in retail, and banking solutions to develop a digital ecosystem in the Southeast Asian region through enhanced payments, and financial services.
Bali plans to impose tourist tax following recent violations
The Indonesian government has announced plans to impose a tax on foreign tourists and possibilities to disincentivize tourists from select countries. The plan comes as a response to recent violations committed by foreign tourists in Bali, Indonesia’s primary tourist destination.
Government incentives for electric cars could increase sales probability
The Indonesian government regulations regarding the provision of incentives for electric car buyers are estimated to increase the probability of people buying electric vehicles by three-fold. However, the government needs to focus on important aspects to drive investors.
Pelindo participates at Hannover Messe 2023 in Germany showcasing port digitalization solutions
State-owned port operator company PT Pelabuhan Indonesia (Pelindo) took part in the world's largest technology industry exhibition, Hannover Messe 2023 in Germany. Through its subsidiary PT Pelindo Solusi Digital, the company exhibits a number of its products to the world.
Eid Al-Fitr generates trillions in circulation, boosting national economic growth in Indonesia, but fake money still looms
Eid Al-Fitr holidays have the potential to increase the circulation of money, which predicted to reach tens of trillions, and may well drive national economic growth. However, the threat of counterfeit bills still continues to exist.