Semen Indonesia (SMGR) plans to restructure its Vietnam-based subsidiary’s (Tang Long Cement Joint Stock Company) debt through fresh cash of USD100m from Bank Mandiri (BMRI) and Standard Chartered d Bank. SMGR’s President Director, Dwi Sutjipto, stated that the company’s subsidiary had a quite big amount of debt with high interest, requiring restructuring. The restructured debt has interest rate of 9-10% […]
SMGR to restructure TLCC’s debts
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Court verdict states that Bank Rakyat Indonesia (BBRI) has lost some gold held by Ratna Dewi, a customer, in her safe deposit box. Ratna Dewi claims she has put 59kg of gold, of which some have gone missing. BBRI now has to pay compensation amounting to IDR37b.
Court verdict: BBRI to pay IDR37b to customer for lost gold
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US companies plan to invest USD61b in Indonesia in the next 3-5 years, based on a study from Ernst & Young Indonesia, Paramadina Public Policy and Gadjah Mada University. This is faster when compared to 2004-2012 US realization investment of USD65b.
US companies plan to invest USD61b in Indonesia
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Erajaya (ERAA) want to increase retail income. Erafone, ERAA’s subsidiary, retail sales in 9M13 has reached Rp2.3-Rp2.4tr (US$240m) vs full target of Rp3tr (US$300m). The main driver for sales in 3Q13 is the holiday season as the parent usually buy gadget as a gift.
ERAA want to increase retail income
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Jakarta Monorail will start construction in 16 October 2013. JM will jointly construct with China Communication Construction Company and the construction will cost US$1.5bn (half of money will be used to buy wagons). JM will buy 200 wagons from Changchun Railway while Industri Kereta Api will assemble the trains. JM will also enter into more partnership to develop integrated system […]
Jakarta Monorail will start construction in 16 October 2013
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This is to ensure that the local banking industry will be ready to face macro challenges. The stats show that Indo banks are still looking very healthy with CAR of 18.08% as of July 2013, much higher than min requirement of 8%. In the same period last year, industry CAR was 17.28%.
Bank Indonesia considers requiring Indo banks to add capital in 3Q13
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The city administration will increase the vehicle ownership transfer fee to 20% of the car’s price next year (10% previously), hence increasing price of second hand cars. They also plan to increase current progressive tax for second cars to 2-8% from 1.5-4%.
Car Ownership: more expensive next year
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