-Indonesia's Bakrie To Expand Wings To Other Asian Countries
- Indonesian Subsidies Forecast To Rise 29.5% This Year
- Indonesian Tax Receipts May Fall Short Of Target: Minister
- TABLE-Details Of Indonesia's '09 Budget Spending, Revenue
- Indonesia Fin Min: 2009 Total Subsidies Likely Above IDR100T
- Indonesia 1H Econ Growth Likely 4.1% On Year - Finance Min
- TABLE-Details of Indonesia's planned SBI, sharia debt auction
- Indonesia c bank dep gov expects rupiah to strengthen
- Minister Invites Indonesian Companies To Invest In Turkey
(Courtesy Joyo News Service)
Indonesia's Bakrie To Expand Wings To Other Asian Countries
JAKARTA, July 1 Asia Pulse - PT Bakrie & Brothers (JSX:BNBR)
plans to expand business operation abroad by establishing new
investment companies in other Asian countries.
The shareholders of the company has approved proposal to put up
to 100 per cent of the company assets as collateral for a loan
to finance the business expansion, a company official said.
Former finance director of the company Yuanita Rohali told the
newspaper Bisnis Indonesia that she will be given a new
financial post in one of the new investment companies.
Dileep Srivastava, a company director, said the company will
mortgage shares of its subsidiaries such as coal producing Bumi
Resources for the loan.
Indonesia's Berlian To Launch Rights Issue To Raise Us$59 Mln
JAKARTA, July 1 Asia Pulse - The shareholders of Indonesian
cargo shipping company PT Berlian Laju Tanker approved plan of
the its management to launch rights issue to raise fund to
strengthen working capital.
The publicly traded company hopes to raise Rp591.73 billion
(US$59 million) from the rights issue selling 1.39 million new
shares , its President Widihardja Tanudjaja said.
Tanudjaja said the company is encouraged to plan rights issue
expected in the middle of this month as the market trend is
This year the company is to receive four new ships including
three chemical tankers being built in Japan and a liquefied
natural gas (LNG) tanker being built in South Korea, its finance
director Kevin Wong said.
Indonesian Subsidies Forecast To Rise 29.5% This Year
JAKARTA, July 1 Asia Pulse - Indonesian subsidies this year is
predicted to swell 29.5 per cent to Rp160 trillion (US$16
billion) from previous target of Rp123.5 trillion.
Resurge in crude oil price and expected increase in oil fuel
consumption are two main factors necessitating an increase in
subsidies, Finance Minister Sri Mulyani Indrawati said.
Crude oil prices have scaled up to US$70 per barrels as against
an average price target of US$45 set in the state budget, Sri
Mulyani told legislators in a meeting with the House Budget
In the first half of this year subsidies provided by the
government totaled Rp42.8 trillion or 34.6 per cent of the
Energy subsidy reached 43.1 per cent including on oil fuels and
electricity subsidies , and food subsidy reached 50 per cent of
the annual target, Sri Mulyani said.
Indonesian Tax Receipts May Fall Short Of Target: Minister
JAKARTA, July 1 Asia pulse - Indonesia`s tax receipts may fall
short of the government-set target this year due to the economic
downturn, a minister said.
"Tax receipts in 2009 are projected at Rp577.6 trillion
(US$56.604 billion) or 98.3 per cent of Rp587.8 trillion set in
the economic stimulus document," Finance Minister Sri Mulyani
Indrawati said at a working meeting with the House of
Representatives` budget committee here on Tuesday.
She said first-quarter tax receipts stood at Rp256.7 trillion,
accounting for 43.7 per cent of the target for 2009.
The lower-than-expected tax receipts were the result of economic
slowdown, low imports, a decline in average crude oil prices and
a drop in value added tax on imports, she said.
Income tax on non-oil/non-gas commodities would likely reach
Rp290.9 trillion or 103.6 per cent of the target, income tax on
oil and gas commodities Rp49.5 trillion or 127.7 per cent of the
target and property tax Rp23.9 trillion or 100 per cent of the
target, she said.
However, value added tax and domestic sales tax might reach
Rp136.9 trillion or 98.6 per cent of the target and luxury sales
tax on imports Rp66.2 trillion or 69.8 per cent of the target,
She said state revenues from fees on land and building titles
might fall to Rp7 trillion and other taxes to Rp3.3 trillion or
91.8 per cent of the target.
Unlike tax receipts, state receipts from excise and import
duties might exceed the target set in the economic stimulus
document for 2009, she said.
Customs and excise receipts were projected to reach Rp74.6
trillion, representing 100.9 per cent of the target of Rp73.9
for this year, she said.
She said excise and import duty receipts would reach Rp54.5
trillion or 100.3 per cent of the target and Rp18.6 trillion or
108.6 per cent of the target respectively.
"The increase in excise receipts will be helped by the
government`s policy to raise excise by an average of 7 per cent
in February 2009," she said.
TABLE-Details Of Indonesia's '09 Budget Spending, Revenue
JAKARTA, June 30 (Reuters) - Following are details of
Indonesia's budget spending and revenue forecasts in 2009
obtained from the finance ministry's statement on Tuesday.
The figures are in trillions of rupiah unless otherwise stated.
H1 H2 2009 f'casts f'casts *revised budget REVENUE
Total revenue 366.0 506.6 872.6
Domestic revenue 365.8 505.8 871.6
-- tax revenue 291.0 361.2 652.1
-- non-tax revenue 74.9 144.7 219.5
Total expenditure 368.3 637.3 1,005.7
Central govt expenditure 228.9 467.2 696.2
Funds for regional autonomy 139.4 170.2 309.6
Budget surplus (deficit) (2.3) (130.7) (131.1)
Budget surplus (deficit) as pct GDP N/A N/A (2.5)
Total financing 46.8 86.2 133.0
Domestic financing 69.7 75.1 144.8
- net bond issuance 67.6 34.5 102.1
Net foreign financing (22.9) 11.1 (11.8)
NOTE: *Figures may not add up due to rounding up
(Reporting by Adriana Nina Kusuma; Writing by Sonya Angraini;
Editing by Ed Davies)
Indonesia Fin Min: 2009 Total Subsidies Likely Above IDR100T
JAKARTA, July 1 (Dow Jones)--The Indonesian government is likely
to pay more than IDR100 trillion in total subsidies this year,
higher than its initial target, Finance Minister Sri Mulyani
Indrawati said Tuesday.
The subsidy load is likely to be "far higher" than the
government's initial target of IDR67 trillion, due to higher
prices of crude oil and electricity, Mulyani told a
The government subsidizes fuel sales to non-commercial consumers
to keep pump prices stable. It also pays subsidies to state
electricity company PT Perusahaan Listrik Negara to lower costs
Indonesia 1H Econ Growth Likely 4.1% On Year - Finance Min
JAKARTA, June 30 (Dow Jones)--Indonesia's economy will likely
grow 4.1% on year in the first half of the year and 4.6% in the
July-December period, Finance Minister Sri Mulyani Indrawati
Southeast Asia's largest economy may expand 4.3% for the full
year, Mulyani said in a written statement ahead of a hearing
with a parliamentary budget committee.
The economy grew 6.1% in 2008.
She said private consumption, the backbone of the economy, will
likely expand 5.8% on year in the January-June period, whereas
government spending will increase 17.7%.
Investment may grow 5.6% in the first half of the year from the
same period last year, Mulyani said.
Exports will likely decline 16.7% on year for the same period,
whereas imports will shrink 22.2%.
The Central Statistics Agency is expected to announce
second-quarter and first half economic data in the middle of
Indonesia is one of few countries in the region expected to
register economic growth this year.
TABLE-Details of Indonesia's planned SBI, sharia debt auction
JAKARTA, June 30 (Reuters) - Indonesia's central bank aims to
raise 33.10 trillion rupiah ($3.25 billion) in an auction of
1-month, 3-month and 6-month debt paper (SBI), as well as
1-month sharia SBI, on Wednesday.
The yield for 1-month sharia SBI refers to the weighted average
interest rate of 1-month SBI.
Following are details of the auction:
Maturities : 1-month (28 days) 3-month (91 days) 6-month (182
Maturing date : 1-month (July 30) 3-month (Oct 1) 6-month
Window time : 1200-1400 (0500-0700 GMT)
Settlement date : July 2
For Sharia SBI
Maturities : 1-month (28 days) Maturing date : July 29 Window
time : 1000-1200 (0300-0500 GMT) Settlement date : July 1
(Reporting by Dicky Kristanto; Editing by Sara Webb)
Indonesia c bank dep gov expects rupiah to strengthen
JAKARTA, June 30 (Reuters) - A deputy governor of Indonesia's
central bank said on Tuesday he expects the rupiah currency
The rupiah, the best-performing currency in the region, has
appreciated more than 7 percent so far this year against the
dollar and was quoted at 10,200 a dollar at 0859 GMT.
"The rupiah can still strengthen, but I don't want to say the
figure," Hartadi Sarwono said.
Separately, Finance Minister Sri Mulyani Indrawati told a
parliamentary budget committee hearing that the average rupiah
rate is forecast at 10,130 a dollar in the second half of 2009.
(Reporting by Adriana Nina Kusuma; Writing by Andreas Ismar;
Editing by Sara Webb)
Minister Invites Indonesian Companies To Invest In Turkey
JAKARTA, July 1 Asia Pulse - Turkish State Minister Zafer
Caglayan informed on Tuesday Indonesian Industry Minister Fahmi
Idris about Turkey's attractive investment climate and
incentives given to investors.
Having arrived in Jakarta with a group of 40 businessmen to
attend the Indonesian-Turkish Business Forum, Caglayan said that
Turkey and Indonesia have friendly and brotherly ties.
Caglayan made a call on Indonesian companies to invest in Turkey
to promote relations.