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Indonesia Tops for Merrill Lynch in Asia
2008-05-10 02:30:00
Indonesia has scored the highest in Merrill Lynch's new quantitative asset allocation model for Asia . In late-April, Merrill Lynch introduced a quantitative model to provide the foundation for its country asset allocation. The model makes use of three predictive variables and two current variables. The predictive variables are: currency, GDP growth, and brokers' estimate system (IBES) for 12-month earnings growth. IBES is a system that gathers and compiles earnings estimates of stock analysts. The current variables are: a hybrid of five valuation measures?including dividend yield, trailing P/E ratios, forward P/E, and price-to-cash and price-to-book values?that are taken as an average and compared to the average of the region and the Merrill Lynch global quantitative strategy team's earnings revision ratio (ERR). The ERR is a count of the number of stocks where analyst earnings estimates have been revised up, divided by the number revised down, according to IBES consensus dat...
More About: Business , Economy , Indonesia , Tops

Temasek loses anti-monopoly case in Indonesia
2008-05-09 13:09:00
Singapore state-linked investment firm Temasek Holdings Pte. Ltd. said on Friday the Indonesia n district court has found it guilty of violating anti-monopoly regulations through its affiliates' cross holdings in Indonesia's two largest telecom operators.The district court upheld the earlier ruling by the Indonesian competition watchdog KPPU that Temasek must divest its stake in either PT Telkomsel or PT Indosat and comply with the country's regulations on cross-holdings within two years.Temasek said it is "deeply disappointed by the verdict," and that it plans to file an appeal with the Supreme Court.Indosat is 41 percent owned by Asia Mobile Holdings (AMH), which is a 75 percent-held subsidiary of ST Telemedia. ST Telemedia is fully owned by Temasek.Temasek indirectly holds 35 percent of PT Telkomsel via its 56-percent owned unit Singapore Telecommunications Ltd.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , International , Case

Bill Gates offers free software to Indonesian students
2008-05-09 09:05:00
Microsoft founder Bill Gates has said he would help Indonesian students obtain free software and inexpensive personal computers to gain greater access to the Internet. During the Thursday's meeting here with President Susilo Bambang Yudhoyono, Gates expressed his commitment to supporting the government's efforts to improve education quality by providing Internet-based national education, local newspaper The Jakarta Post reported Friday. "He told the President that Microsoft will continue to train teachers and students throughout Indonesia in software, computer and information and communication technology," Coordinating Minister for People's Welfare Aburizal Bakrie was quoted as saying. Yudhoyono told Gates that Indonesia and Microsoft should continue to work together as the cooperation would mutually benefit both parties. The government is seeking to obtain software from Microsoft for a million computers for educational purposes in an effort to cut the ratio of computers ...
More About: Software , International , Students

Tidal flood wreaks havoc on flight planes
2008-05-09 01:16:00
A tidal flood Thursday morning saw the temporary closure of the toll road between Soekarno-Hatta International Airport and Jakarta, resulting in dozens of flight delays.Toll operator PT Jasa Marga began to close the main access road to the airport from Jakarta at 6 a.m. after an embankment collapsed, overflowing with tidewater.The toll road was inundated with sea water as deep as 120 centimeters in the morning. A six-meter-long embankment on the north side of the road collapsed at 3 a.m. on Thursday.Motorists were diverted to alternative routes to the airport, causing severe traffic jams in Tangerang municipality. A two-kilometer-long queue formed along Jl. Jend. Sudirman heading to Jl. Daan Mogot and Jl. Pembangunan.The Traffic Management Center reported the water ebbed at around 5 p.m., allowing cars to pass. Jasa Marga opened the toll road for free from 5 p.m. to 6 p.m.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Travel , Transportation , Cities , Flight , Planes

China, Indonesia reject France's Myanmar push
2008-05-09 01:14:00
China and Indonesia today rejected France's idea of having the Security Council ratchet up the pressure on cyclone-devastated Myanmar to grant full access to foreign aid workers.The US was awaiting approval from Myanmar's ruling junta to start military aid flights, but the UN food agency and Red Cross/Red Crescent said they have finally started flying in emergency relief supplies after foot-dragging by the generals. Western diplomats say progress is too slow.France has suggested invoking a UN ?responsibility to protect? in the reclusive Southeast Asian state to deliver aid without the government's approval, but its bid to make the UN Security Council take a stand was rebuffed yesterday by China, Vietnam, South Africa and Russia.UN envoys of Indonesia and China spoke against politicizing the issue and dismissed reporters' suggestions that Myanmar was stonewalling international aid workers, including UN officials, by not issuing visas.Indonesia News Blog: http://indosnesos.blogspo...
More About: International , China , Push

Indonesia mandates banks for $1.5 bln bond sale-sources
2008-05-08 13:11:00
Indonesia has picked Credit Suisse, Deutsche Bank and Lehman Brothers to lead manage a planned $1.5 billion bond sale in June, sources familiar with the matter said.The efforts to borrow money are part of Indonesia's drive to plug its budget deficit amid soaring fuel subsidies. The government also plans to raise up to $2 billion worth of sukuk, or Islamic bonds, in the second half of the year.Indonesia has already tapped global debt markets this year, raising $2 billion in 10-year and 30-year bonds in January.The sources declined to provide more specific details about the planned new issuance, though one said a 10-year note was being considered. Both declined to be identified ahead of an official announcement from the Indonesian government.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , Indonesia , Bond , Banks

Siemens wins contract for processing line
2008-05-08 13:07:00
Siemens AG. said it won a contract worth a double-digit million euro sum to supply BlueScope Steel Ltd.'s Indonesian unit with a processing line to make zinc-coating and paint. The new facility, designed for annual output of 175,000 tonnes of Zincalume steel, will start operating in the spring of 2010, the company said in a statement.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , International , Contract , Siemens

President encourages people to reduce use of cash money
2008-05-08 01:59:00
President Susilo Bambang Yudhoyono encouraged the people to make optimum use of information technology (IT) in banking and payment systems so as to reduce the use of cash money. The president spoke in favor of less use of cash money in his speech opening the Asia Pacific Conference and Exhibition 2008 (Apconex) on Financial Transformation at the Jakarta Convention Center (JCC) on Wednesday. According to the head of state, the use of non-cash money in the community would be beneficial so long as it speeded up transactions for economic efficiency.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , People , Money , President

Indonesia: pay-TV low but growing
2008-05-08 01:57:00
Indonesia has almost shockingly-low pay-TV penetration, at just two per cent of the country?s 40 million-plus TV homes, according to new research. But while still low, the report says that subscriptions have doubled over the last year, with growth ?brisk? and up to 785,000. Major pay-TV operators include front-runner Indovision, a DTH operator, and rivals Kabelvision and Telkomvision.Released to coincide with its round-table on Indonesia?s pay-TV industry, the Cable and Satellite Broadcasting Association of Asia (CASBAA) has updated its Indonesia in View report.Casbaa said: ?A newly competitive environment has seen operators differentiate consumer offerings through premium content, while some have secured new channels and launched additional local-language programming such as a new Muslim channel and music channels. The launch of low cost pre-paid services has also driven pay-TV take up,? adds the report.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , Indonesia , Tech , Growing

Mobile subscription wars heat up in Indonesia
2008-05-08 01:55:00
In Indonesia ?s mobile telecoms market, the incumbents? competitive advantage of having large subscriber and base station networks is slowly but surely being eroded, says Macquarie Research. Interconnection tariffs are set to be revised down, so a pricing war is likely to spread from on-net calls to off-net calls.Macquarie believes that the leaders, Telkomsel (in which Telkom Indonesia, majority-owned by the Indonesian government, has a 65% holding and Singtel the remaining 35%) and Indosat face difficult times ahead, ?with capex remaining stubbornly high, market shares declining and profit growth slowing?. It argues that competition has become ?multi-pronged?, as well-capitalised contenders are emerging from amongst the 11 wireless licence holders, most of which are well funded and backed by foreign telecom companies.The majority of those licences were handed out only in the last five years. Low network utilisation and a high-tariff regime currently enjoyed by the incumbents have al...
More About: Business , Economy , Mobile , Wars

Bill Gates to help Indonesia develop human bird-flu vaccine
2008-05-07 15:25:00
Bill Gates, founder of the Microsoft Corporation, will help Indonesia develop a human bird-flu vaccine, the Jakarta Post reported Wednesday.According to the report, the funds will be provided through the aid agency Bill and Melinda Gates Foundation.Gates is expected to arrive at this Indonesian capital Thursday for talks with the government. He will also deliver a lecture here Friday, the report said.His visit will help in promoting investments in the country. The government is seeking to obtain one million computers from Microsoft for educational purposes, the report quoted welfare minister Aburizal Bakrie as saying.'In the higher and junior high schools, there is only one computer for every 1,000 students. We want to improve this to at least one computer for every 20 students,' he said.Indonesia News Blog: http://indosnesos.blogspot.com
More About: International , Bill Gates , Vaccine , Tech

Tidal flood inundates tens of houses in Biak, Papua
2008-05-07 09:23:00
Tidal flood has inundated at least 25 houses located near Yenures Beach, Biak City, Biak Numfor District, Papua province since Tuesday evening.The local resident of Yenures Beach had panicked and decided to flee their homes because their area had been hit by tidal floods for five time, Imrom Yerangga, head of the Yenures Beach neighborhood said here on Wednesday.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Environment , Houses , Flood

President Yudhoyono officially opens Apconex 2008
2008-05-07 09:22:00
President Susilo Bambang Yudhoyono officially opened the Fourth Asia-Pacific Conference and Exhibition (APCONEX) 2008 on Financial Transformation at the Jakarta Convention Center (JCC) here on Wednesday. The theme of this year`s APCONEX, organized by the National Banks Association (PERBANAS), is "Toward A Less Cash Society." The conference which will run until May 9 is to present at least 60 speakers and being attended by around 800 participants from more than 15 countries.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , President

Indonesians rally in support of Islamic sect
2008-05-07 09:17:00
Hundreds of supporters of a minority Islamic sect dubbed heretical by a government panel rallied here Tuesday demanding that religious freedom is protected in the world's biggest Muslim country.Representatives of the minority Ahmadiyah sect as well as mainstream Muslims and Christians gathered in central Jakarta to urge the government to reject a proposed ban on the sect."We are here to show to Indonesia, to the world, that Indonesians love peace. To show that there are more Indonesians who love peace than those who don't," an organiser told the crowd.The more than 500 demonstrators carried banners in support of religious freedom and against any effort to ban Ahmadiyah. Some of the banners read "Stop religious fascism" and "Stop violence in the name of religion."Islamic scholar Siti Musdah Mulia told the rally that a ban on Ahmadiyah would be "inviting disaster" for the nation, and warned of the growing influence of "robed thugs" and strict Wahabist interpretations of Islam.Earlie...
More About: Rally , Support

Bill Gates to Visit Indonesia This Thursday
2008-05-07 09:13:00
The founder of Microsoft, Bill Gates , will come to Indonesia on Thursday this week.He is scheduled to give a speech at the annual Asia Pacific government leaders forum.?Bill Gates will speak at the forum in the Jakarta Convention Center,? Lalu Mara, spokesperson for the Coordinating Minister for People's Welfare, told Tempo on Tuesday (6/5).Coordinating Minister for People's Welfare Aburizal Bakrie will hold a press conference regarding Gates's visit.Bill Gates is also scheduled to meet with President Susilo Bambang Yudhoyono in this visit.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , International

Indonesian judge orders BDNI corruption probe to be reopened
2008-05-06 12:34:00
An Indonesian court on Tuesday ordered the attorney general to reopen a probe into a massive corruption scandal involving billions of dollars in loans lent during the Asian financial crisis.District court Judge Haswandi ordered the attorney general's office to "continue the investigations" into Syamsul Nursalim, one of Indonesia's richest men, over missing billions of dollars his defunct bank owes the government.Bank Dagang Negara Indonesia (BDNI) owes 30.9 trillion rupiah (3.37 billion dollars) in so-called liquidity funds handed out by the central bank in 1998 at the height of the Asian financial meltdown. Nursalim left the country several years ago and is reportedly living in Singapore.The Nursalim family founded the Gajah Tunggal Group and is involved in a vast range of businesses, including tyre production and shrimp farms. Indonesia News Blog: http://indosnesos.blogspot.com
More About: Crime , Justice , Corruption

Indonesian central bank hikes key rate by 25 bps
2008-05-06 12:32:00
The Indonesian central bank on Tuesday raised its key policy rate by 25 basis points to 8.25 percent to rein in soaring inflation.It was Bank Indonesia's first interest rate hike in more than two years, as the country deals with rising inflationary pressure amid soaring prices of global commodities like crude oil. The central bank last hiked the benchmark BI rate in December 2005 to its peak of 12.75 percent.The decision took into account the prospect of inflationary pressures in coming months and the volatility of global commodity prices, BI senior deputy governor Miranda Goeltom told a briefing."We will continue to monitor the situation going forward to see if inflationary pressures will persist and we will accordingly make adjustments to the BI rate," Goeltom said.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , Central

Indonesia may quit OPEC
2008-05-06 08:46:00
Indonesia is considering quitting its membership in the Organization of Petroleum Exporting Countries (OPEC) on grounds that it is no longer a major oil exporter, President Susilo Bambang Yudhoyono said Tuesday. "Indonesia is no longer a net oil exporter. In fact we now import fuel products in considerable amount," he said in a gathering with governors and regency heads here. "During the cabinet meeting yesterday (Monday), we were discussing whether we would stay in OPEC or quit membership while struggling to boost oil production until we become a worthy OPEC member again." Indonesia's oil production is governed by OPEC with a quota of1.3 million barrels per day.Indonesia News Blog: http://indosnesos.blogspot.com
More About: International , Indonesia , Energy , Quit

Indonesia to Raise Fuel Prices in a `Limited' Manner
2008-05-05 17:08:00
Indonesia, Southeast Asia's biggest economy, plans to raise fuel prices in a "limited'' manner to reduce the subsidy and contain a widening budget deficit.Rising oil prices are threatening the nation's budget, Coordinating Minister for the Economy Boediono said in Jakarta today. The government will have a compensation program for the poor following the price increase, Boediono said, without providing details.A 34 percent rise in local crude oil prices in the past three months is forcing Indonesia's government to raise pump prices a year before elections, President Susilo Bambang Yudhoyono said today. The country's budget deficit may widen this year to 2.1 percent of gross domestic product from 1.7 percent without the price increase."The increase will be limited by a degree that the public can afford,'' Boediono said. He didn't say when the prices would be increased.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Indonesia , Energy , Fuel

Indonesia sues Suharto son Tommy over carmaker sale
2008-05-05 17:07:00
Indonesian prosecutors said on Monday they had were suing former President Suharto's youngest son for more than $400 million over a business deal involving his failed national car project.The attorney general's office, acting on behalf of the finance ministry, seeks 4 trillion rupiah ($439 million) in damages from Hutomo Mandala Putra Suharto, usually known as Tommy , and his companies, which include PT Humpuss.PT Timor Putra Nasional, set up by Tommy Suharto to build Indonesia's national car, defaulted on its loans to Indonesian state banks after the 1997-98 financial crisis.But in 2003, Timor's assets were sold to a little-known company called Vista Bella Pratama.The sale was a breach of Indonesia's regulations as both the seller and buyer were controlled by the same individual, Tommy Suharto, prosecutor Dachmer Munthe told Reuters.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Indonesia , Crime , Justice , Sale

Indonesian police arrest alleged Bali bomb plotter
2008-05-05 12:32:00
Indonesian police said on Monday they had arrested a key member of radical Islamist group Jemaah Islamiyah (JI) who allegedly helped plot a suicide bombing on the resort island of Bali in 2005.A police spokesman said Faiz Fauzan, 28, who was paraded before the media at a press conference, was a close aide to the group's fugitive alleged terror mastermind, Malaysian national Noordin Muhammad Top.Hewas also an associate of Azahari Husin, another Malaysian national believed to have helped Noordin plan the suicide bombings which killed some 200 people, mostly tourists, in Bali in 2002, the spokesman said.Azahari was shot dead during a police raid on his hideout in Batu, East Java, in November 2005."Based on our preliminary investigations... the suspect is a member of JI who was sworn in in June 1999 and began to join the group of Noordin Top in 2004," Nataprawira said.Monday's press conference was the first public acknowledgement of the arrest of Fauzan, who is also known as Parmin. P...
More About: Terrorism , Indonesian , Arrest , Police

Indonesia Shortlists Companies for Bond Sale
2008-05-05 09:01:00
Indonesia will choose from five companies to arrange the sale of $1.5 billion of overseas bonds, Bisnis Indonesia reported, citing a person it didn't identify.The five are UBS AG, Credit Suisse Group, Barclays Capital, Deutsche Bank AG, and Lehman Brothers Holdings Inc., the newspaper said. The report didn't provide the timing of the planned sale.Indonesia sold $1 billion of 10-year bonds and another $1 billion of 30-year bonds in January.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , Companies , Indonesia , Bond

New shopping malls malignant for flooding: Green advocates
2008-05-05 08:58:00
Advocates have warned the Jakarta administration's plan to establish 13 new shopping centers in Jakarta will damage its environment."The new malls will decrease the availability of land for water catchment," said Firdaus Hidayat, an officer for sustainable development at OneWorld Indonesia, on Thursday.OneWorld and Kaukus Lingkungan Hidup Jakarta, also an environmental non-government organization, said there were already too many malls for the city's residents.Firdaus said by approving the plan, the administration was putting the city at risk of more flooding.He also highlighted the importance of resident involvement in revitalizing the city.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Shopping , Environment , Green , Cities , Flooding

PKS to be third biggest vote getter in 2009 election
2008-05-05 03:43:00
Former Jakarta Governor Sutiyoso predicted that the Prosperous Justice Party (PKS) may develop into the third biggest vote getter in the 2009 legislative general election."This party has a big potential, as their cadres and symphatizers are militants. PKS can be the third biggest political party," he told journalists after attending a founding anniversary of the PKS party at the Bung Karno sports stadium here on Sunday.Sutiyoso was very surprised by the PKS masses attending the party`s anniversary celebration, as the number of its cadres in stadium might reach a hundred thousandIndonesia News Blog: http://indosnesos.blogspot.com
More About: Election , Vote

Australian giant steel company eyes Indonesian largest steel maker
2008-05-05 03:42:00
Australian-based steel giant BlueScope Steel is interested in acquiring stake in Indonesian largest steel maker Krakatau Steel Inc., which is set to go on offer under a government privatization program, a senior official quoted by local media as saying Saturday. Indonesian Industry Ministry's Director General for Metal Ansari Bukhari said Wednesday BlueScope had sent a letter to the ministry inquiring how it could take part in the privatization."BlueScope's CFO Charlie Elias will be here from May 8 to 9 to meet Minister Fahmi Idris to learn more about the plans for Krakatau," he said, adding that he would also meet the finance and state ministers for state enterprises.Ansari also said BlueScope was unlike most Indonesian steel firms in that it produced steel for the automotive sector and not just for infrastructure projects. Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , International , Eyes

Democrat party faction voices "shock" about member`s arrest by KPK
2008-05-04 03:49:00
A Democrat Party (PD) faction official in the House of Representatives (DPR) expressed "shock" and "sad concern" about the arrest of one of the party`s parliamentary representatives by the Corruption Eradication Commission (KPK) on suspicion of involvement in the bribery case related to the conversion of mangrove forests in Banyuasin, South Sumatra.The KPK arrested Sarjan Taher, a PD member in the House`s Commission IV, on Friday night (May 2) as a suspect in the Rp. 10 billion bribery case."Honestly, we in the PD faction did not know our colleague Sarjan Taher was arrested. The faction does not know anything, so the news really came as a shock to us. But for now, we can only feel sad and concerned," said Sutan Bathoegana, secretary of the PD faction in the House, on Saturday.Referring to the KPK`s actions in general, the PD legislator said : "To us, the anti corruption drive must continue. We have no problem with it. If need be, we should set up a thousand KPKs so the anti-graft bo...
More About: Shock , Arrest

Another Indonesian MP detained
2008-05-04 03:44:00
Indonesia's anti-graft agency has detained a member of President Susilo Bambang Yudhoyono's political party on suspicion of accepting a bribe in a forestry investigation, officials said yesterday.Indonesia's anti-corruption commission has gone into high gear in recent months, detaining several senior officials including the central bank governor and a member of the Attorney-General's office.Sarjan Tahir, a member of parliament for Yudhoyono's Democratic Party, was detained on Friday night, officials said, adding that this may be the first such case for the party.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Indonesian , Crime , Justice , Detained

Former RI ambassador to Singapore suspected for graft
2008-05-04 03:37:00
A former Indonesian ambassador to Singapore is allegedly implicated in embezzling the embassy construction budget, a Corruption Eradication Commission (KPK) official said Saturday.Spokesman for the graft body Johan Budi said the KPK would investigate whether there had been misappropriation of funds allocated for renovations to the Indonesian Embassy in Singapore in 2003."There are two suspects in the case, one of whom is a former ambassador to Singapore," he said.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Crime , Justice , Ambassador

Mini laptops hit Jakarta
2008-05-03 02:21:00
Four months ago, only a limited number of mini laptops were available in Jakarta .However, over the past month, in April, when I regularly visited Mangga Dua, Ambassador Mall and Ratu Plaza in Jakarta, most of computer shops in those malls have displayed mini laptops in their cabinets.The 7-inch Asus' Eee PC 710 series, the 7-inch Kohjinsha's SA Series and the 5.6-inch Fujitsu LifeBook U810 were mostly displayed in the computer shops' showcases.The 11-inch Sony Vaio TZ150N was also there, but the three mini laptops were much different because their prices were one-third or half cheaper than that of the Rp 20 million Vaio TZ150N.Asus' Eee PC710 series, for example, were sold between Rp 3.5 million (US$370) and 4.3 million depending on the size of the solid state disk.Hewlett Packard Indonesia market development manager Martin Wibisono said in a recent interview his firm saw an increasing demand for mini low cost laptop."We will introduce our mini low cost laptop here in mid-May," ...
More About: Laptops , Tech , Mini

Tata, Essar, Mittal eye stake in Indonesian firm
2008-05-03 02:17:00
Tata Steel, India's biggest steelmaker, Essar Steel and BlueScope Steel are seeking to buy a stake in Indonesia's state-owned producer of the metal, an official from the Southeast Asian nation said. The three companies, along with ArcelorMittal , the world's biggest steelmaker, have sent letters expressing their interest in buying a stake in PT Krakatau Steel, Ansari Bukhari, director general of metal, machinery, textile and miscellaneous industries at Indonesia's industry ministry, said in Jakarta.A larger partner will help Krakatau Steel gain expertise and double capacity to 5 million metric tonnes a year, Bukhari said. Overseas steelmakers and Krakatau may benefit from rising demand for the metal in Asia's third-most populous nation as the lowest interest rate in three years boosts demand for houses and cars. The companies "are interested to get into Krakatau Steel as they see the huge market potential in Indonesia," Bukhari said.Indonesia News Blog: http://indosnesos.blogspo...
More About: Business , Economy , International , Indonesian