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☆ Fears for orangutans, dolphins as Indonesia presses on with new capital
▼ + stars: | 2023-03-22 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +3 min

She is one of 127 orangutans that the Borneo Orangutan Survival Foundation (BOSF) is caring for in the Samboja district, East Kalimantan. The Nusantara Capital City Authority said mangroves would be replanted in other areas and guidelines have been made for workers encountering an animal. "It's a very high concern of how we'll try to have harmony between people, nature and culture...because that's the soul of the city," Nusantara chief Bambang Susantono said. "We hope that with the capital city being here, we can pave the way for animals to live side by side (with humans)," said BOSF manager Aldrianto Priadjati. "At least provide an area for orangutans so they can live a better life."

☆ Indonesia's parliament passes controversial jobs decree into law
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +2 min

JAKARTA, March 21 (Reuters) - Indonesia's parliament on Tuesday voted to pass President Joko Widodo's emergency decree to cement rules on investment and jobs in Southeast Asia's biggest economy, replacing a similar 2020 law that had been ruled partially unconstitutional. Tuesday's passage of the decree meant most of the changes brought about by the law would stay, with some small changes on labour rules. Experts have also questioned the use of the decree, officially known as a government regulation in lieu of law, especially after parliament delayed its vote by more than a month. Under Indonesia's constitution, a president is only supposed to use such a decree to address an emergency and parliament is supposed to vote on it in the first sitting after its issuance. The Labour Party, which currently has no seat in parliament but plans to contest the 2024 elections, intends to hold a rally to protest the passage of the decree later on Tuesday.

☆ Some cash in on land boom near Indonesia's new capital, others despondent
▼ + stars: | 2023-03-15 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +6 min

[1/3] Trucks are seen near a palm oil plantation at a village located near Indonesia's projected new capital, known as Nusantara National Capital, in Sepaku, East Kalimantan province, Indonesia, March 8 2023. Headman Rizki Maulana Perwira Atmadja, 38, said land prices around his village - 10 km (6 miles) from where a presidential palace is being built - had jumped four-fold. Land prices in places near a water reservoir had risen over 16-fold, said Junaidin, the village chief of Tengin Baru, a settlement of around 4,000 people within Nusantara's development zone. He said large property companies had not sought to acquire land banks in Nusantara due to the moratorium on permits. However, the Nusantara authority said land speculation should not affect development plans as compensation for land would be measured fairly by an independent party.

☆ Indonesia parliament won't allow power vacuum over election ruling - deputy speaker
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

JAKARTA, March 14 (Reuters) - Indonesia's parliament will ensure there is no vacuum of power in the country despite a controversial court ruling to delay the 2024 presidential and general elections, its deputy speaker said on Tuesday. Deputy house speaker Lodewijk F. Paulus on Tuesday told parliament the constitution makes clear that elections must be held every five years. The election commission appealed the ruling last week and has said it would proceed with poll preparations as normal, despite the court ordering those be stopped for more than two years. Jokowi, as the president is known, backs the appeal against the ruling and has said he is against the idea of extending his tenure. Reporting by Stefanno Sulaiman; Writing by Stanley Widianto; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

☆ Indonesia tech firm GoTo to cut 600 more jobs - statement
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

March 10 (Reuters) - Indonesia's biggest tech firm PT Goto Gojek Tokopedia (GOTO.JK) announced on Friday another round of layoffs aimed at streamlining the organisation and boosting the company's profitability. About 600 roles will be affected, the company said in a statement, following 1,300 jobs that were cut late last year. The company has previously said the laysoffs are aimed at making the company more "agile" and maintaining growth amid challenging global economic conditions. GoTo said last month that adjusted EBITDA is expected to turn positive in the last quarter of 2023 due to its cost management measures. Reporting by Stefanno Sulaiman, Writing by Bernadette Christina Munthe; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ Indonesia tech firm GoTo expects positive adjusted EBITDA in Q4, 2023
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Feb 16 (Reuters) - Indonesia's biggest tech firm PT GoTo Gojek Tokopedia (GOTO.JK) said on Thursday that adjusted EBITDA is expected to turn positive in the last quarter of 2023 due to its cost management measures. GoTo also said its group contribution margin will turn positive this quarter, four quarters earlier than previous guidance. GoTo said gross transaction value (GTV) in the last quarter of 2022 stood at 162 trillion rupiah ($10.69 billion), up by 18% annually. GTV for the full 2022 year was 613 trillion rupiah, up by a third from the previous year on a proforma basis. GoTo said, without giving further details, that gross revenue in both the fourth quarter and full year was at the upper end of guidance.

☆ Indonesia president warns regulator to boost supervision after Adani rout
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] Adani logo and decreasing stock graph is seen in this illustration taken January 31, 2023. REUTERS/Dado Ruvic/IllustrationJAKARTA, Feb 6 (Reuters) - Indonesian President Joko Widodo urged on Monday his country's financial regulator to strengthen supervision on capital markets in the wake of the crisis at India's Adani Group. In order to prevent these things happening in Indonesia, Jokowi, as he is widely known, warned about the negative impact of stock manipulation. "When it slips in pump and dump, things happening just like in India, please be careful," he added. Shares in Adani Group firms have been hit with a major sell off since U.S-based short-seller Hindenburg Research made allegations of stock manipulation and unsustainable debt.

☆ Indonesian unit of JD.com to discontinue all services at end of March - JD.ID website
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: 1 min

JAKARTA, Jan 30 (Reuters) - The Indonesian unit of e-commerce firm JD.com (9618.HK), JD.ID, will discontinue all services at the end of March, an announcement on its website showed on Monday. When asked about the closure, a spokesperson for JD.com said in a statement that the company will continue to serve global markets, including Southeast Asia, through its supply chain infrastructure. Reporting by Stefanno Sulaiman in Jakarta and Sophie Yu in Beijing; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ Indonesia's Bakrie Group seeks nickel mine, partners up for $9 bln EV project
▼ + stars: | 2023-01-20 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +2 min

Gilarsi W. Setijono, chief executive of Bakrie Group's EV distributor unit PT VKTR Teknologi Mobilitas, said the Indonesian company plans to acquire a nickel mine in Central or Southeast Sulawesi to supply the park. It also aims to produce 20 GWh worth of EV batteries per year by 2028 for both domestic and export markets, he said. The consortium will launch a pre-feasibility study in March and firm up each company's investment afterwards, Gilarsi said, noting that Bakrie Group hopes to become a controlling stakeholder. Separately, Bakrie's VTKR plans to launch a $60 million initial public offering in the first half of 2023 to invest in its own EV production, Gilarsi said. Indonesia is keen capitalise on its rich nickel reserves to develop battery and EV industries.

☆ Indonesian businessman fined over $370 mln for stock manipulation
▼ + stars: | 2023-01-13 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +3 min

[1/3] Benny Tjokrosaputro walks after a hearing on the allegation of manipulating investment decisions at a state insurance firm Asabri, at the court in Jakarta, Indonesia, January 12, 2023. REUTERS/Ajeng Dinar UlfianaJAKARTA, Jan 12 (Reuters) - An Indonesian corruption court on Thursday found businessman Benny Tjokrosaputro guilty in a stock manipulation case involving state insurance firm Asabri and fined him 5.7 trillion rupiah ($371.67 million). His fine was one of the largest in an Indonesian graft case and the judges said the state could seize Tjokrosaputro's assets if he did not pay. Indonesian media dubbed the cases Tjokrosaputro was implicated in some of the worst corruption scandals in Southeast Asia's biggest economy. Last year, Indonesia passed a financial law calling for the Indonesia Deposit Insurance Corporation to protect policyholders if an insurance firm becomes insolvent, a measure intended to shore up public trust in the sector.

☆ With few entry tests, Southeast Asia may gain most from China's travel revival
▼ + stars: | 2023-01-06 | by ( Xinghui Kok | ) www.reuters.com time to read: +4 min

Except for airplane wastewater testing by Malaysia and Thailand for the virus, the region's 11 nations will treat Chinese travellers like any others. As many as 76% of Chinese travel agencies ranked Southeast Asia as the top destination when outbound travel resumed, according to a survey released in December by trade show ITB China. Thailand already expects to welcome 5 million Chinese travellers this year, or about half of the 10.99 million of 2019. Neighbouring Malaysia projects 1.5 million to 2 million Chinese tourists this year versus 3 million before the pandemic. "But for Cambodia, it’s an invitation to Chinese people: Chinese tourists, come to Cambodia."

☆ Indonesia's Dec inflation inches up to 5.51% y/y
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Jan 2 (Reuters) - Indonesia's inflation rose slightly in December and remained above the central bank's target range for the seventh successive month, official data showed on Monday, as household spending rose during the year-end holidays. The headline annual inflation rate picked up to 5.51% in December, compared with 5.42% in November and 5.39% expected by analysts polled by Reuters. Bank Indonesia's (BI) inflation target range is 2% to 4%. BI raised the key policy rate by a total of 200 basis points in August to December to bring inflation to within its target range this year. December's prices were propped up by higher prices of fuel, air fares, house rents and foodstuff such as rice and eggs, Statistics Indonesia chief Margo Yuwono told a news conference.

☆ Indonesia eyes $11 bln in capital market fundraising this year
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Jan 2 (Reuters) - Indonesia is targeting 170 trillion rupiah ($10.92 billion) in capital market fundraising for this year, including from initial public offerings and debt instruments, its financial regulator said on Monday, well below the amount raised in 2022. About 260 trillion rupiah was raised through the capital market last year, including the IPO of top tech firm PT GoTo Gojek Tokopedia (GOTO.JK), which raised $1.1 billion in April. Inarno Djajadi, head of capital market supervision at the Financial Services Authority, said there were 84 offerings in the pipeline with 81.41 trillion rupiah ($5.23 billion) in total estimated value. About 54.5 trillion rupiah of that would be from 58 potential IPOs. Among firms expected to go public in 2023 are two units of state energy firm Pertamina, Pertamina Geothermal Energy and Pertamina Hulu Energi.

☆ Bali governor says new Indonesia laws pose no risk to tourists
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

JAKARTA, Dec 12 (Reuters) - Visitors to Bali will not be put at risk by Indonesia's newly ratified criminal code, the island's governor said, dismissing concerns that revised laws which include articles criminalising sex outside marriage may scare away tourists from its shores. Seeking to reassure visitors, Bali Governor Wayan Koster in a statement on Sunday noted the new laws, which come into affect in three years, could only be prosecuted if there was complaint by a parent, spouse or child. Those who "visit or live in Bali would not need to worry with regard to the entry into force of the Indonesian Criminal Code", he said. The governor said provisions in the criminal code on this issue had been altered from an earlier, stricter version so "would provide a better guarantee of everyone's privacy and comfortableness." Decades in the making, legislators hailed the passage of the criminal code as a much-needed overhaul of a vestige of Dutch colonial rule.

☆ Indonesia govt to create a mechanism for rollout of B35 biodiesel policy
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Dec 6 (Reuters) - Indonesia's president has asked the government to create a mechanism next year to ensure the rollout of B35 biodiesel, a senior minister said on Tuesday. B35 is a fuel containing a 35% mix of palm oil-based fuel. Indonesia, the world's top palm oil producer, currently has a mandatory 30% mix of palm oil fuel in biodiesel, known as B30. Southeast Asia's biggest economy is currently finalising trials on biodiesel containing 40% palm oil-based fuel known as B40. "We will monitor the global geopolitical environment, extreme weather and the scarring effects on inflation," Airlangga said.

☆ Indonesia c.bank says digital rupiah currency can be used in metaverse
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Dec 5 (Reuters) - Indonesia's central bank (BI) governor Perry Warjiyo said on Monday its planned digital rupiah currency can be used in the future to buy products in the metaverse. BI launched the design for its digital rupiah last week, following many central banks around the world that are developing so-called central bank digital currencies (CBDCs). Perry, speaking at an event on the digital rupiah, added the currency will use a technology platform that will be compatible with other central banks' digital currencies. Perry said there will be an agreement among central banks on the exchange rate used for digital currencies and on its operational supervision, which includes cyber risk and capital flow. BI will roll out the digital rupiah in stages, starting from wholesale CBDC to development of the digital rupiah's business model for monetary operations and money market, and eventually a retail CBDC for everyday use.

☆ Indonesia's Semeru volcano erupts, people warned to stay away
▼ + stars: | 2022-12-04 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Dec 4 (Reuters) - Indonesia's Semeru volcano on Java island erupted early on Sunday, spewing a column of ash 1.5 km (1 miles) into the air, prompting authorities to warn residents to stay away from the eruption area. Indonesia's disaster mitigation agency, BNPB, warned residents not to conduct any activities within 5 km (3 miles) of the eruption centre and to stay 500 metres (1,500 feet) from riversides due to risks of lava flow. The volcano began erupting at 2:46 a.m. (1946 GMT on Saturday), BNPB said in a statement. Indonesian authorities have distributed masks to local residents, BNPB said in a statement, adding that volcanic activity remained at level III, below the highest level of IV. With 142 volcanoes, Indonesia has the largest population globally living in close range to a volcano, including 8.6 million within 10 km (6 miles).

☆ Indonesia's GoTo says some pre-IPO shareholders not taking up secondary offering
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Dec 1 (Reuters) - Indonesian biggest tech firm PT GoTo Gojek Tokopedia (GOTO.JK) said on Wednesday evening that some of its pre-IPO shareholders had decided not to take up a secondary offering of shares at this time. The shareholders were those who considered the proposed transaction, GoTo said in a statement without naming them. Shares of GoTo closed down 6.79% on Wednesday to 151 rupiah a piece prior to the announcement. The announcement came as the eight-month lock-up period for pre-IPO shareholders expired on Wednesday. GoTo, which raised $1.1 billion in an IPO last April, said in October that the purpose for a coordinated secondary offering of shares was to "facilitate an orderly sale through the negotiated market."

☆ Indonesia's monetary policy will be front-loaded - central bank
▼ + stars: | 2022-11-30 | by ( Gayatri Suroyo | Stefanno Sulaiman | ) www.reuters.com time to read: +4 min

Governor of Bank Indonesia Perry Warjiyo speaks during the annual meeting of Indonesia's central bank with its financial stakeholders in Jakarta, Indonesia, November 30, 2022. REUTERS/Willy KurniawanBut availability of energy subsidies next year would let Bank Indonesia (BI) moderate rises in interest rates, Warjiyo said. “Interest rate policy will be front-loaded, pre-emptive and forward looking while being done in a measured way to reduce inflation expectations, which currently remain high,” he said at an annual gathering of bankers, government officials and the central bank. Policy synergy between the central bank and the government would be important to maintain next year in order to control prices, the governor said. They will be maintained at a slightly higher level of 211.98 trillion rupiah in 2023 budget.

☆ Indonesia c.bank launches white paper on planned digital currency
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

JAKARTA, Nov 30 (Reuters) - Indonesia's central bank on Wednesday unveiled plans for a digital rupiah currency that will use blockchain technology, as the country sees a boom in digital transactions. The digital rupiah will underline Bank Indonesia's (BI) role as the sole authority to issue legal tender, including a digital currency, Governor Perry Warjiyo said at an event where he also laid out the central bank's policy guidance for 2023. Indonesia currently bans the use of cryptocurrencies as a means of payment, but allows transactions of the digital assets in the commodity futures market for investment purposes. "Digital rupiah will be implemented in stages, starting from wholesale CBDC for issuance, elimination and transfer between banks," he said. Indonesia has seen double-digit growth in digital banking transactions in the past few years with transactions in 2022 set to grow 30% to 53,144 trillion rupiah ($3.38 trillion), according to BI's data.

☆ Indonesians pray outdoors after deadly quake destroys town
▼ + stars: | 2022-11-25 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +2 min

[1/3] Muslim men pray during Friday prayers at a volleyball field, as their nearest mosque was damaged following Monday's earthquake, in Cianjur, West Java province, Indonesia, November 25, 2022. I asked the congregation to stay on guard because disaster might strike again," Muhamad, 52, said. "Prayer still needs to go on, even though we are in a shelter, prayer is an obligation," he said. Monday's quake was particularly deadly because it struck a densely populated area at a depth of just 10 km. Additional reporting by Ananda Teresia; Writing by Stanley Widianto; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ Indonesia struggles to get aid to quake survivors, rescue continues
▼ + stars: | 2022-11-24 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +2 min

Survivors included a woman who gave birth at a makeshift medical centre in a tent. "The conditions are steep," President Joko Widodo said of the rugged terrain as he visited Cianjur. Search efforts focussed on Cijedil village, where about 30 people were thought to be buried under a landslide, Joshua Banjarnahor of the national search and rescue agency, told reporters. Rain-soaked slopes and potential landslides were delaying rescue efforts, the search and rescue agency said on Wednesday, adding the likelihood of finding survivors was getting slimmer. Monday's quake was particularly deadly because it struck a densely populated area at a depth of just 10 km (6 miles).

Trawling through the debris, a teacher asked whose child had worn pink to school that day. "It turned out that that was my daughter," said Rian, her face stricken with grief at the loss of her 8-year-old child, Vira. At Tarbiyatussibyan Al Badruniyah Islamic school in Cianjur, Vira was among 20 students killed when the 5.6-magnitude quake shattered the town, reducing some homes and schools entirely to rubble. The quake hit just after 1.30 p.m., when many children were about to start their lesson in the Islamic school. "When the quake happened, the school building suddenly collapsed; the second floor just caved in," said Siti Maemun, a Koranic recital teacher at the school.

☆ Traumatised relatives await news of missing in quake-hit Indonesia
▼ + stars: | 2022-11-23 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +2 min

CIANJUR, Indonesia, Nov 23 (Reuters) - Traumatised relatives awaited news on Wednesday of the fate of loved ones missing after an earthquake shattered a town in Indonesia's West Java on Monday, with more heavy machinery deployed to clear landslides that have buried villages. The death toll from Monday's 5.6-magnitude quake in Cianjur has continued to rise as the full extent of the disaster has emerged. Authorities say 268 are now confirmed dead, up from about 160 on Tuesday, and more than 150 are missing. "If it was just an earthquake, only the houses would collapse, but this is worse because of the landslide," said Zainuddin, who was searching for six missing relatives. "The first priority is to make sure that badly injured patients are being taken care of so they can survive."

☆ Indonesia GoTo's Jan-Sept 2022 net loss at $1.3 bln, despite improving Q3 results
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Nov 21 (Reuters) - Indonesian tech firm PT GoTo Gojek Tokopedia Tbk (GOTO.JK) reported a net loss of 20.32 trillion rupiah ($1.29 billion) between January and September 2022, according to financial statements published on Monday, amid a sell-off in tech stocks. Losses widened from the same period last year, when the firm reported a 11.57 trillion rupiah net loss, according to the statements. GoTo said in a press statement following the result that it saw financial improvements in the April-June 2022 period and expected to see more over the coming quarters. In Q3 2022 alone, GoTo's gross revenue was up 30% from the same period last year to 5.9 trillion rupiah and its adjusted EBITDA loss narrowed by 11% year-on-year to 3.7 trillion rupiah. Shares of GoTo closed at 210 rupiah per share on Monday, down 5.41% in intra-day trade.

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