Friday, February 3, 2023

Tag: Finance

The largest privately owned PT Bank Central Asia Tbk (BCA) allocates Capital expenditure (Capex) of IDR 8.7 trillion (US$ 583.7 million) in 2023 for a new data center infrastructure. […]
The Financial Services Authority (OJK) reported a significant increase in non-performing loans (NPLs) for over 90 days from fintech P2P lending platforms. As of October 2022, the NPLs had risen to IDR 1.42 trillion (US$ 95.3 million), a 140.78% increase from from the previous year of IDR 593.44 billion. […]
PT Bank Danamon Indonesia Tbk and MUFG Bank announced a placement of US$ 100 million in a Venture Fund focusing on Indonesia called the MUFG Innovation Garuda No. 1 Limited Investment Partnership, or Garuda Fund. […]
PT Pertamina Geothermal Energy (PGE), a subsidiary of state-owned oil and gas giant company PT Pertamina, expects to earn up to IDR 9.78 trillion (US$ 657.92 million) in fresh funds from its Initial Public Offering (IPO) in early February. […]
Financial technology (fintech) companies have rapidly grown in Indonesia, offering a multitude of innovative apps and services. Such services transform the way consumers manage their finances. The country’s fintech industry has offered a wide range of options that provide fast, convenient and affordable financial solutions. […]
Three major state-owned banks of Mandiri, BRI and BTN will use their 2023 Capital Expenditure (Capex) to support the strengthening of cybersecurity, digital architecture, IT and digital services. […]
The bread industry in Indonesia has seen an increasing demand in the past years. The market is driven by the rising disposable incomes and changing consumer preferences for convenience and healthy eating. Various types of bread also have become a source of high revenue due to the rising growth. […]
The digital era has helped customers to use online transactions, including the rising trend of the Buy Now Pay Later (BNPL) feature – famously known as PayLater – in several ride hailing platforms, marketplaces and e-wallets. The COVID-19 pandemic in the past two years boosted the use of online transactions as governments imposed lockdowns and mobility restrictions. Low penetration of […]
A diverse range of companies in various industries, from natural resources and manufacturing to banking and telecommunications, plays a significant role in the Indonesian economy. These companies also serve as major employers in the country. […]
Indonesia still offers a great investment prospect in several industries namely tourism and gaming amidst the 2023 global economic recession threat. Speakers at the Indonesia PE-VC Summit by DealStreetAsia (DSA) concluded that Indonesia still provided lucrative investment opportunities. […]
Indonesia unicorn company Kopi Kenangan has planned to launch an IPO in the Indonesia Stock Exchange (IDX) although not in the foreseeable future. Instead, the company is focusing on global expansion as a corporate action before the IPO. CEO and Co-founder of Kopi Kenangan, Edward Tirtanata, said the company was in the process of opening new overseas outlets. […]
Northstar’s Co-founder and Managing Partner Patrick Walujo said private equity (PE) companies would need to focus on fundamentals to grab early-stage opportunities in Indonesia due to its vast favorable demographics and macroeconomics indicators as well as robust market. […]
The 10-member ASEAN, which was established in 1967, has voiced a discourse on a common currency, just like the European Union (EU) with its euro. The regional grouping has its primary objective to accelerate economic growth as well as social progress and cultural development. Whereas its secondary objective was to promote regional peace and stability. […]
State-owned lender PT Bank Tabungan Negara Tbk (BTN) will increase its Capital expenditure (Capex) in 2023 by 18% to strengthen its information technology (IT) security system and the development of digital banking services. […]
As 86.7% of the country’s population is registered Muslim, the halal market trends in Indonesia tends to increase significantly, especially these past 10 years. The country is now known as the world’s largest domestic halal economy market. The most potential halal products are food, beverages, Muslim clothing, cosmetics, and halal tourism. […]
President Joko “Jokowi” Widodo unexpectedly named the Indonesian Ulema Council (MUI) Chairman Ma’ruf Amin as his running mate in the 2019 presidential election. He had a reason that Amin would help develop Sharia economy in Indonesia. Amin has been known as a leading and influential figure of the largest Islamic organization, Nahdlatul Ulama (NU). […]
The government has decided to restructure state-owned plantation company PT Perkebunan Nusantara (PTPN) III into three subholdings and would launch an IPO for one of them, which is the oil palm plantation PalmCo. Deputy Minister for State-Owned Enterprises Pahala Mansury said that the establishment of PalmCo should be completed by the end of 2022 and the IPO will take place in the […]
State-owned construction company PT Wijaya Karya (Persero) Tbk (WIKA) has added capital injection of IDR 6.12 trillion for the ongoing construction of the Jakarta-Bandung High-Speed Railway Project […]
The Alliance to End Plastic Waste (Alliance) announced a US$ 36 million commitment to support Indonesia in reducing 70% of plastic pollution in the ocean by 2025 and achieving almost zero plastic waste by 2040. […]
Indonesia Health Minister Budi Gunadi Sadikin has invited investors and private sectors to put their money in the global health sector, especially in Indonesia. He also explained to them the business opportunity for foreign investors in the health sector. […]
State-owned PT Bank Mandiri Tbk, one of the country’s largest lenders, has completed 75% of its Capex of IDR 2 trillion in 2022 to develop its digitalization services and strengthen its cyber security. […]
Investment Minister/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia announced that investment realization from January to September 2022 has reached IDR 892.4 trillion – or 74.4% of the target – both foreign and direct investments. […]
IDEAL, a property technology startup established in 2021, has helped Indonesian young people to own houses through responsible lending. These millenials share a common concern: rejection from banks when applying for house loan. […]
The government has planned to grant contract extension for PT Freeport Indonesia when the current contract expires in 2041. The extension of the contract is granted earlier than scheduled because the government considers the economic feasibility of Freeport underground mining Grasberg project. The government has also planned to provide export tax reduction to the mining company. […]
Topping of Syariah Tower had just commenced on 23rd August 2022, which when completed will make Indonesia one of the largest syariah financial center in the whole of ASEAN. Despite the fact that the Indonesian people were majority Muslim but do not use syariah banking and mostly conventional banking for the most. The lack of awareness of the Indonesian people […]
The government is said to have disbursed IDR 97.44 trillion in subsidies to the Home Loan Liquidity Facility (KPR FLPP) mortgage program through state-owned enterprise PT Sarana Multigriya Finansial (SMF) from 2010 to June 2022. […]
President Joko Widodo said Indonesia aims to cut its fiscal deficit to less than 3% of its gross domestic product next year for the first time since 2019. […]
The five regions are Jambi, West Sumatra, Bangka Belitung, Riau and Aceh have recorded highest inflation. Meanwhile, Jambi became the area with the highest inflation reaching 8.55 percent. The province of Jambi is cautious at 8.55 percent. West Sumatra is at 8.01 percent; Bangka Belitung is 7.77 percent; Riau is 7.04 percent; Aceh is 6.97 percent. […]
Governor of Bank Indonesia (BI) Perry Warjiyo gave the latest signal regarding the benchmark interest rate which is currently at its lowest level of 3.50 percent. According to Perry, the national economic condition is still conducive enough to continue the BI rate policy going forward. […]
OCBC NISP Bank as an open bank invites computer programmers involved in software development, including graphic designers, interface designers, product managers, project managers, domain experts and others to contribute to a new banking experience. […]