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Indonesia

Tanjung Priok Port Police thwart smuggling of hundreds of reptiles

smuggling reptiles

JAKARTA: Tanjung Priok Port Police secure hundreds of protected reptiles from KM Dobonsolo motorship at the passenger terminal of Tanjung Priok Port on Friday (06/16/2017). IR (27) from Ujung Pandang, South Sulawesi carried goods containing 279 kinds of reptiles from Papua including 20 snakes of Condro Python and nine Panama lizards of Sulawesi. The reptiles according to plan are going ... Read More »

Indonesia’s tax amnesty boosts bond appeal

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JAKARTA: Indonesia’s tax amnesty brought in revenue, which lowered the fiscal deficit and enhanced the appeal of government bonds, says Allianz Global Investor’s David Tan. “The tax amnesty in Indonesia has been impressive,” said David Tan, portfolio manager and chief investment officer for Asia Pacific fixed income. “It yielded a high amount of tax revenues, leading to low fiscal deficit ... Read More »

Indonesia to get access to its taxpayers’ financial data in Hong Kong

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JAKARTA: Indonesia and Hong Kong have agreed to share financial information that will give the Indonesian tax office access to data on taxpayers who have accounts in the wealth management hub, Indonesia’s finance ministry said on Friday. The government of Southeast Asia’s biggest economy, which is eager to ramp up tax collection to narrow its budget deficit and fund infrastructure ... Read More »

Pelni reviews offer to purchase German ship

Pelni

JAKARTA: State-owned shipping operator PT Pelayaran Nasional Indonesia (PT Pelni) is reviewing an offer to procure a German ship, Pelni President Director Elfien Guntoro stated. “The purchase is intended to replace their old fleet. However, the proposed price is not financially feasible,” Guntoro revealed after a meeting. Pelni had earlier signed a memorandum of understanding (MoU) with Meyer Werfl to ... Read More »

Indonesia’s forex reserves hit record highs in May 2017

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JAKARTA: The Governor of Bank Indonesia Agus DW Martowardjojo mentioned that Indonesia’s foreign exchange (forex) reserves as of the end of May 2017 hit record highs at $124.95 billion. “Foreign exchange reserves are also now holding the highest record, due to record highs in last August 2011,” said Agus in his office on Friday (6/9/2017). The position of foreign exchange ... Read More »

Royal IHC cooperating with shipping company PT Humpuss‎ for dredging of Indonesian waterways

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AMSTERDAM: The Dutch dredger Royal IHC signed a memorandum of understanding with the Indonesian shipping company PT Humpuss‎ on cooperation in the field of dredging projects in Indonesia. PT Humpuss‎ intends to expand its shipping business, for which it will be necessary, with the help of the specialized fleet of IHC, to bring the depths along the shipping waterways of ... Read More »

Indonesia sells 14 trillion rupiah of bonds, above target

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JAKARTA: Indonesia sold 14 trillion rupiah ($1.05 billion) of bonds at an auction, above the indicative target of 12 trillion rupiah, the finance ministry’s financing and risk management office said. The government sold t-bills maturing in September 2017 with a weighted average yield of 4.95300 percent. The T-bills maturing in June 2018 had a weighted average yield of 5.82984 percent. ... Read More »

Indonesia seeks to rejoin Opec, but not cut output

OPEC crude basket

JAKARTA: Indonesia has sent a letter to the Organization of the Petroleum Exporting Countries (Opec) requesting to reactivate its membership in the group as long as it can avoid output cuts, energy ministry officials said. “Yes, it’s true,” Energy and Mineral Resources Ministry spokesman Sujatmiko said when asked to confirm the letter had been sent. Mr Sujatmiko, who goes by ... Read More »

Indonesian companies hunt funds after S&P upgrade

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JAKARTA: Indonesian companies are striving to utilise a window of opportunity to raise funds on better terms that has opened after Standard & Poor’s long-awaited upgrade of the country’s credit rating to investment grade. Before its May 19 upgrade of Indonesia’s sovereign credit outlook to BBB- from BB+, S&P had held out for more than five years from matching the ... Read More »

Indonesia, Philippines start to open banking industry

Indonesia Philippines

MANILA: The Bangko Sentral ng Pilipinas (BSP) on Friday said it is signing a letter of intent (LOI) with the central bank of Indonesia, Otoritas Jasa Keuangan (OJK), an initial step to allow qualified commercial banks to operate in each other’s markets. “The BSP welcomes the signing of a Letter of Intent with OJK of Indonesia. This will be done ... Read More »

Indonesia April palm, palm kernel oil exports rise 4%

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JAKARTA: Indonesia’s palm and palm kernel oil exports rose 4 percent in April from the month before, the Palm Oil Association (GAPKI) said in a statement late on Wednesday. Indonesia exported 2.57 million tonnes of palm and palm kernel oils in April, up from 2.47 million tonnes in March. Shipments were up 23 percent compared with April 2016. Following is ... Read More »

Indonesia looking to increase crude imports from Nigeria

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JAKARTA: Indonesia is looking to increase its crude purchases from Nigeria, state oil firm Nigerian National Petroleum Corp. said. Harry Purwanto, Indonesia’s ambassador to Nigeria, said during a meeting with NNPC group managing director Maikanti Baru in Abuja that the Asian country was seeking to increase crude imports to meet its surging energy needs, the NNPC said in a statement. ... Read More »

Indonesia’s 2017 growth rate could top govt target

Indonesian Rupiah

JAKARTA: Indonesian Finance Minister Sri Mulyani Indrawati said on Tuesday that economic growth this year could top the current official target, thanks to better trade numbers and investment than in 2016. Indrawati said growth of 5.3 percent is possible, and the government plans to revise the 2017 state budget to change the current target of 5.1 percent. Still, the minister ... Read More »

Indonesian port operator places order for eight Konecranes Gottwald Mobile Harbor Cranes

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JAKARTA/JAVA: Konecranes has won its hitherto biggest order for Konecranes Gottwald Mobile Harbor Cranes in the Asia-Pacific region. In the course of 2017 and at the beginning of 2018, Java-based port operator PT Berlian Jasa Terminal Indonesia (PT BJTI) will add eight more cranes to its existing fleet of eight Konecranes Gottwald machines. For particularly eco-efficient operation, the new cranes ... Read More »

Australian drug convict Corby returned from Indonesian prison

Schapelle Corby

JAKARTA: Schapelle Corby returned home to Australia on Sunday after spending almost nine years in an Indonesian prison and three more on parole after a controversial drug conviction. Her case riveted Australia and drew international headlines. Corby, now 39, was convicted in May 2005 of smuggling 9 pounds of marijuana into Indonesia, which has strict anti-drug laws. She was sentenced ... Read More »

Strike deepens woes at Freeport’s Indonesia mine

Strike at Freeport Indonesia mine

JAKARTA: Labor issues at U.S. miner Freeport-McMoRan’s Indonesian subsidiary are deepening concerns over the future of the company, which is in dispute with the Indonesian government over exports from its huge Grasberg copper and gold mine. About 4,000 employees at Freeport Indonesia, the company’s local unit, began a strike on May 1 in protest over the company’s decision to put ... Read More »

Indosat appoints DG Customs and Excise as Commissioner

PT Indosat, Tbk (Indosat Ooredoo)

JAKARTA: The recent annual shareholders meeting of PT Indosat Ooredoo Tbk (ISAT) dismissed two commissioners, Ian Charles Dench and Astera Primanto Bhakti, and appointed Heru Pambudi as a new commissioner. Heru is a representative of the Indonesian Government in the company. Indonesian Government has 14.3 percent stake in the company. Heru is currently serving as Director General of Customs and ... Read More »

Indonesian customs seizes 63.8 tons fertilizer

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BALI: Customs seized 63.8 tons of smuggled ammonium nitrate on a boat bound for eastern Indonesia. The chemical compound is a fertilizer but can be an ingredient in explosives, which authorities say would be used for illegal blast fishing. Customs and Excise Director General Heru Pambudi said the ammonium nitrate was meant to be smuggled from Malaysia into Southeastern Maluku. ... Read More »

Indonesia’s tax authorities can monitor taxpayers’ bank accounts

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JAKARTA: Indonesia’s Tax Office now has more power to check whether people and companies indeed pay taxes. Last week the Indonesian government basically scrapped the existence of banking data secrecy by introducing a new regulation that gives the nation’s tax authorities access to information on accounts held at financial institutions, including bank accounts. The new regulation should contribute to a ... Read More »

Indonesia arrests Japanese man in reptile smuggling

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JAKARTA: Indonesian authorities have arrested a Japanese man who conservationists say is a major player in the illegal wildlife trade for allegedly attempting to smuggle more than 250 reptiles out of the country. The head of law enforcement at Jakarta’s international airport, Ridwan Alaydrus, said Thursday that Katsuhide Naito was arrested after customs officers found 181 lizards, 65 snakes and ... Read More »