Tuesday, May 28, 2024

Tag: Finance

JAKARTA, May 27, 2024 − Fossil fuels continue to dominate Southeast Asia’s energy sector, controlling around 83 percent of the region’s energy mix and largely overshadowing the 14.2 percent contribution from renewables. Among these, solar energy remains underutilized. While Vietnam has made significant strides, achieving an impressive 20.5 percent share of its power from solar, Indonesia still lags substantially, with less than 1 percent. […]
DBS Indonesia has set an ambitious target for Indonesia’s economic growth, projecting it to reach 8 percent by 2045 over Indonesia’s status as a major economy with a Gross Domestic Product (GDP) exceeding one trillion dollars. […]
State-owned bank PT Bank Rakyat Indonesia, commonly referred to as BRI, has earned a place in Bloomberg Technoz’s “Top 20 Companies to Watch in 2024” list due to its strong performance fundamentals. […]
The Indonesian Central Bank (BI) has signed a cooperation agreement with the Central Bank of the United Arab Emirates (UAE) to encourage the use of local currencies for bilateral transactions. […]
In an effort to support global economic recovery, the Indonesian Central Bank (BI) will maximize the use of sustainable market instruments in the form of green sukuk in the short-term sharia financial market. […]
PT Ayo Kasbon Indonesia, a financial technology startup, launched the innovative Ayo Kasbon financial services application in conjunction with Labour Day in Jakarta on Wedesday, May 1, 2024. The Ayo Kasbon application aims to facilitate employees or labourers to collect their salary earlier before the payday. […]
PT Federal International Finance (FIF), in collaboration with Mizuho Bank Ltd, MUFG Bank Ltd and Sumitomo Mitsui Banking Corporation Singapore Branch, has succeeded in obtaining a loan worth US$ 60 million aimed at integrating sustainable financing. […]
PT Asuransi Allianz Life Indonesia (Allianz Life) and PT Bank HSBC Indonesia (Bank HSBC) on Thursday, April 18, 2024, launched a financial protection product − the Premier Legacy Assurance − in the form of inheritance to support customers’ prosperous family life in the future. […]
President Joko “Jokowi” Widodo has approved the additional state capital injection (PMN) to PT Wijaya Karya (WIKA) amounting to Rp6 trillion (US$419 million). […]
PT Freeport Indonesia (PTFI) has deposited around Rp3.35 trillion (about US$207 million), or about sevent percent out of its 2023 profit of Rp48.79 trillion, to the regional administrations in Papua. […]
Abu Dhabi Islamic Bank (ADIB) is reportedly in talks to acquire a stake in PT Bank Syariah Indonesia (BRIS) worth approximately US$1.1 billion (IDR 17.98 trillion). […]
The escalating geopolitical crisis in the Middle East, coupled with Iran’s attack on Israel, poses a threat to the global economic recovery, including Indonesia. […]
State-owned infrastructure financing company PT Sarana Multi Infrastruktur (SMI) recorded a net profit of Rp2.07 trillion or equivalent to US$144.5 million throughout 2023, partly supported by growth in operating income. […]
The government’s debt has reached Rp8,319.2 trillion (US$522.3 billion) by February 29, 2024, an increase from the end of January, which amounted to Rp8,253.09 trillion. This government debt is equivalent to approximately 39.06 percent of the gross domestic product (GDP), continuing the all-time high trend. […]
HSBC has announced the ASEAN Growth Fund, amounting to US$1 billion (IDR 16 trillion), aimed at accelerating the expansion of startups in ASEAN.  […]
The Indonesia Stock Exchange (IDX) has issued an unusual market activity (UMA) announcement regarding PT Adhi Kartiko Pratama (NICE) shares due to an unusual increase in prices. […]
PT Indonesia Asahan Aluminium (Inalum) continues to prepare for its pre-initial public offering (IPO) this year. […]
State-owned fertilizing holding company PT Pupuk Indonesia recorded the government’s debt to settle fertilizer subsidies almost complete, with a remaining balance of nearly Rp1 trillion (US$ 63.5 million) for the period of 2020-2021. […]
The China International Capital Corporation (CICC), a massive investment bank, has announced plans to expand its presence in Southeast Asia, targeting Indonesia, Vietnam, Malaysia, and Thailand in its third phase of international expansion. […]
The Capital City of Nusantara Authority (OIKN) recorded a budget absorption throughout 2023 to support IKN development reaching Rp271.71 billion (US$17.3 million) […]
Head of the Nusantara Capital City Authority (OIKN), Bambang Susantono, reported that the total investment inflow into IKN has reached nearly IDR 50 trillion. […]
State electricity company PT PLN is exploring opportunities for a new financing scheme, coined the term transition financing, to accelerate investments in gas power plants and fossil fuel efficiency. […]
Grant Thornton Indonesia has published a report titled “Unraveling Indonesia’s Prospects in 2024”, a move aimed at assisting foreign investors in better understanding Indonesia’s investment climate in 2024. […]
The Indonesian Central Bank (BI) is offering a liquidity incentive of IDR 268 trillion (US$17.2 billion) to the banking sector aimed at expanding loan disbursement and promoting BI’s macroprudential liquidity incentive policy. […]
The Nusantara Capital Authority has predicted that the development of the Nusantara ndonesia Capital City (IKN) over the next 10 years will not require financing from the State Budget (APBN). […]
The Purchasing Managers’ Index (PMI) for Indonesian manufacturing in February still reflects an expansive manufacturing sector although the country booked a score of 52.7, a slight decrease from January’s 52.9. According to the S&P Global index, manufacturing production showed an upward trend in February, with growth rates remaining solid despite a decline compared to January. […]
The Ministry of Finance recorded the government’s debt position in January 2024 at Rp8,253.09 trillion or equivalent to 38.75 percent of gross domestic product (GDP). […]
A new chapter in the dispute between Mitsui & Co Ltd and State electricity company PT PLN regarding the certainty of the Paiton 3 divestment could set a precedent reflecting the high investment uncertainty in Indonesia. […]
PT Mineral Industri Indonesia (MIND ID), together with Vale Canada Limited (VCL) and Sumitomo Metal Mining Co., Ltd. (SMM) signed a share sale and purchase agreement for the divestment of PT Vale Indonesia (INCO) in Jakarta on Monday, February 26, 2024. […]
The Coordinating Ministry for Economic Affairs (Kemenko Perekonomian) reports a substantial allocation of State Budget (APBN) totaling Rp1,515.4 trillion (USD $105.36 billion) dedicated to advancing the development of National Strategic Projects (PSN). Wahyu Utomo, Deputy for Coordination of Regional Development and Spatial Planning at the Coordinating Ministry for Economic Affairs and Chairman of the Executive Committee of the Committee for […]