Indonesia Economy Forum

[trishna_amṛta]

Indonesia to take controlling stake in massive gold, copper mine

Indonesia will take a controlling stake in one of the world's biggest gold and copper mines for $3.85 billion, the government said Thursday, as it moves to claw back control of the country's vast natural resources.

State-owned mining firm Inalum will get a 51 percent interest in the Grasberg mine, from just under 10 percent now, Jakarta said.

I've just read the press release. And suffice to say it's best NOT to expect any significant change from the current status-quo. Having majority share doesn't automatically make Indonesia govt have control over the mine (in any aspect). In essence FCX still has "more control" over nearly everything even without majority of share.

Don't get me wrong, I'm not saying this is a bad deal, however this deal is merely starting point (a good one) but it's still very long way for Indonesia govt to actually gain significant control of the Grasberg Mine.

The press release :

https://investors.fcx.com/investors...-Term-Partnership-with-PT-Inalum/default.aspx

 

[Logam42]

I've just read the press release. And suffice to say it's best NOT to expect any significant change from the current status-quo. Having majority share doesn't automatically make Indonesia govt have control over the mine (in any aspect). In essence FCX still has "more control" over nearly everything even without majority of share.

Don't get me wrong, I'm not saying this is a bad deal, however this deal is merely starting point (a good one) but it's still very long way for Indonesia govt to actually gain significant control of the Grasberg Mine.

The press release :

https://investors.fcx.com/investors...-Term-Partnership-with-PT-Inalum/default.aspx

Agreed, this is just the first step in ensuring better justice for Indonesia and the people of papua. With 51% stake, we ensure a slow but steady tech-transfer. Even if we extend the permit for freeport in the future, Indonesia can slowly learn to manage other mines by itself.

Hopefully now the government won't turn a blind eye to any oknum that uses the OPM threat to squeeze profits for themselves.

Also important, Indonesia now has more control of the profits of freeport, and that can only be good news.

 

[trishna_amṛta]

Agreed, this is just the first step in ensuring better justice for Indonesia and the people of papua. With 51% stake, we ensure a slow but steady tech-transfer. Even if we extend the permit for freeport in the future, Indonesia can slowly learn to manage other mines by itself.

Also important, Indonesia now has more control of the profits of freeport, and that can only be good news.

Highlight from the press release :

The transaction, which is expected to close during the second half of 2018, is subject to the negotiation and documentation of definitive agreements, including purchase and sale agreements, the extension and stability of PT-FI's long-term mining rights through 2041 in a form acceptable to FCX and Inalum, a shareholders’ agreement between FCX and Inalum providing for continuity of FCX’s management of PT-FI’s operations, and resolution of environmental regulatory matters satisfactory to the Indonesian Government, FCX and Inalum. The terms of these agreements will be subject to FCX Board approval.

This deal merely increase the dividend for Indonesia govt, but NOT in any way guarantee "control".

 

[pr1v4t33r]

Indonesia's Inalum secures $5.2 billion financing for Freeport deal

Indonesia’s state-owned miner Inalum has secured $5.2 billion (3.9 billion pounds) in financing from 11 foreign and local banks, according to sources with knowledge of the matter, to be used in part to buy a majority stake in the Grasberg copper mine.

https://uk.reuters.com/article/uk-i...-freeport-deal-sources-idUKKBN1K30AY?rpc=401&

 

[Boss Dragun]

https://en.antaranews.com/news/116562/us-wants-abolition-of-import-barriers-on-its-goods

U.S. Wants Abolition of Import Barriers on its Goods

Reporter: . 11th July 2018

Jakarta (ANTARA News) - The U.S. government demands abolition of restriction both tariff and non tariff barriers on its goods imported into Indonesia if the country wants the United States to keep the generalized system of preferences (GSP) facility for a number of Indonesian goods.

Indonesia is favored with big surplus in trade with the United States, therefore, Washington wants Jakarta to remove all restrictions on their exports to Indonesia, Trade Minister Enggartiasto Lukita said here on Wednesday.

Currently, the Indonesian Government is working on a proposal to the United States that the GSP facility will not be lifted, the minister said.

He said the government will meet with the United States Trade Representative (USTR) in that country by the end of July this year to discuss the GSP issue.

If the GSP facility is finally lifted , the deficit in the country`s trade balance would likely widen .

There are goods in 3546 tariff categories given import duty facility by the United States. The United States said GSP has contributed to the surplus which has continued to be recorded by Indonesia in trade with that world`s largest economy.

Indonesia recorded a surplus of around US$14 billion every year in the bilateral trade.

The minister said a number of matters drawing the U.S. attentio9n in the bilateral trade is import barrier on U.S. horticulture products and soybean.

"They are concerned with the import barrier on horticulture products although we already plan to lift the tariff barrier in line with the rule of the World Trade Organization (WTO)," he said.

They also want removal of non tariff barrier on U.S. soybean imports into Indonesia, he added.

The United States is evaluating the GSP facility they have provided for a number of developing economies including Indonesia.

The evaluation was an order from President Donald Trump himself after seeing the continued deficit that country has in trade with Indonesia, the minister said.

Trump was reported to make the final decision on the GSP facility in November 2018.






so they wanted to remove import barriers on their product, which eventually will be removed anyway, yet we still get the recieving end of their import barrier imposed on our products? or am i missing something here?

 

[Nike]

https://en.antaranews.com/news/116562/us-wants-abolition-of-import-barriers-on-its-goods

U.S. Wants Abolition of Import Barriers on its Goods

Reporter: . 11th July 2018

Jakarta (ANTARA News) - The U.S. government demands abolition of restriction both tariff and non tariff barriers on its goods imported into Indonesia if the country wants the United States to keep the generalized system of preferences (GSP) facility for a number of Indonesian goods.

Indonesia is favored with big surplus in trade with the United States, therefore, Washington wants Jakarta to remove all restrictions on their exports to Indonesia, Trade Minister Enggartiasto Lukita said here on Wednesday.

Currently, the Indonesian Government is working on a proposal to the United States that the GSP facility will not be lifted, the minister said.

He said the government will meet with the United States Trade Representative (USTR) in that country by the end of July this year to discuss the GSP issue.

If the GSP facility is finally lifted , the deficit in the country`s trade balance would likely widen .

There are goods in 3546 tariff categories given import duty facility by the United States. The United States said GSP has contributed to the surplus which has continued to be recorded by Indonesia in trade with that world`s largest economy.

Indonesia recorded a surplus of around US$14 billion every year in the bilateral trade.

The minister said a number of matters drawing the U.S. attentio9n in the bilateral trade is import barrier on U.S. horticulture products and soybean.

"They are concerned with the import barrier on horticulture products although we already plan to lift the tariff barrier in line with the rule of the World Trade Organization (WTO)," he said.

They also want removal of non tariff barrier on U.S. soybean imports into Indonesia, he added.

The United States is evaluating the GSP facility they have provided for a number of developing economies including Indonesia.

The evaluation was an order from President Donald Trump himself after seeing the continued deficit that country has in trade with Indonesia, the minister said.

Trump was reported to make the final decision on the GSP facility in November 2018.






so they wanted to remove import barriers on their product, which eventually will be removed anyway, yet we still get the recieving end of their import barrier imposed on our products? or am i missing something here?

Actually its good, their largest export products to Indonesia is mostly what we needed most like healthcare equipments(MSCT, MRI equipment , even stetoskop) , heavy machinary equipment like engines turbin for electricity generator, Aircraft engines, software, microprocessors, and other high end stuff valuable to increasing our productivity.

 

[Logam42]

Top 3 Islands in Travel & Leisure's yearly '15 Best Islands in the World' are all Indonesian!
Number 1 is a surprise, almost thought it was fake news when I found out.

Indonesian gov' tourism campaign is bearing fruit, also, thank you Obama for visiting Yogyakarta and giving us a huge increase in exposure!
_______________________

1. T+L
2. WORLDS BEST

The 15 Best Islands in the World

Maurizio Delbono/Getty Images
These destinations, voted tops by T+L readers, will inspire some serious wanderlust.
​

REBECCA ASCHER-WALSH
JULY 10, 2018
To island-hop some of the most beautiful havens in the world, book a trip to Asia, which lays claim to six of this year’s top 15 destinations. But if you only have a week, you’ll hardly suffer. Each of the islands on this list is worth a visit on its own, from the perennial World’s Best list-makers Maui and the Galápagos to Portugal’s rising star, the Azores, with its friendly locals and awe-inspiring landscapes.

Every year for our World’s Best Awards survey, T+L asks readers to weigh in on travel experiences around the globe — to share their opinions on the top cities, islands, cruise ships, spas, airlines, and more. Readers rated islands according to their activities and sights, natural attractions and beaches, food, friendliness, and overall value.

Related: The 2018 World's Best Awards

This year’s winners include surprises as well as familiar favorites. The Edenic Philippine outpost of Palawan scored the top spot on this list in 2013 and in 2017; it also makes the grade this year, although it cedes the top spot to a surprise entry. It remains in fine company, voted in along with its sister island Cebu.

A returning favorite is Tasmania, beloved for its wild beauty as well as its burgeoning culinary scene, which has food and wine fans singing its virtues between courses. Explore the northern coast of the island, to which fairy penguins return at night to roost, and the secluded Boat Harbour beach, where you may not see another living being.

Also heralded for its seclusion — as well as its beaches, diving, and mountainous beauty — is Indonesia’s Lombok, an island just east of Bali that one reader dubbed “Romance Island.” In fact, Indonesia seems to have the joys of island life down to a science, laying claim to the top three spots people most enjoy visiting. Read on for the full list of 15 winners.

Francisco Solipa/Getty Images
15. Azores, Portugal
Score: 88.37

Advertisement

Getty Images
14. Maui, Hawaii
Score: 88.42

De Agostini via Getty Images
13. Orkney Islands, Scotland
Score: 88.50

Advertisement

James D. Morgan/Getty Images
12. Cook Islands
Score: 88.52

Advertisement

Mary Ann McDonald/Getty Images
11. Galápagos Islands, Ecuador
Score: 88.53

Getty Images
10. Tasmania, Australia
Score: 88.70

Mark Avellino/Getty Images
9. Páros, Greece
Score: 88.76

Getty Images
8. Cebu, Philippines
Score: 89.10

Peter Schickert/Getty Images
7. Mauritius
Score: 90.00

Maurizio Delbono/Getty Images
6. Palawan, Philippines
Score: 90.04

Getty Images
5. Waiheke, New Zealand
Score: 90.21

Getty Images
4. Maldives
Score: 90.48

Artur Debat/Getty Images
3. Lombok, Indonesia
Score: 93.88

Michele Falzone/Getty Images
2. Bali, Indonesia
Score: 94.06

Advertisement

Vincent Boisvert/Getty Images
1. Java, Indonesia
Score: 95.28

Java, with a population of 140 million, makes its first appearance on this list. Celebrated for its ancient culture, breathtaking vistas, and UNESCO World Heritage sites like the Borobudur Temple Compounds, the island also offers the opportunity to indulge in modernity (five-star hotels abound). Waterfalls, volcanoes, protected parks, and white-sand beaches also allow visitors to get away from the thrum.
__________________________

Further reading:
https://www.travelandleisure.com/worlds-best/java-indonesia-best-island-in-the-world

 

[Bennedict]

Garuda Vishnu Kencana statue per 2018

One of world’s biggest statues, Garuda Wisnu Kencana, is currently under construction in Bali, and it’s already looking impressive. Slated for completion in September 2018, the gigantic monument of the Hindu God of providence Wisnu riding the mythical bird Garuda will be around 120m high (including a concrete pedestal) and 64m wide. To put this in perspective, New York’s Statue of Liberty stands at 93m. The Spring Temple Buddha monument in Henan, China will, at 128m retain its status as the tallest statue in the world.


Concept of the statue complex

Garuda Wisnu Kencana has been in the making for the past two decades, with the work resuming in 2013 after a 16 year hiatus due to financial woes. Masterminded by a renowned Balinese sculptor I Nyoman Nuarta, the partially-completed statue is already the highlight of the 240-hectare Garuda Wisnu Kencana Cultural Park on the island’s southern coast. Wisnu’s massive upper body, as well as Garuda’s head and claws have been attracting scores of local and foreign visitors to the park for a good few years now. While the final monument will be made from over 4000 tons of copper, brass and steel, its parts are currently being fashioned by Nuarta at his Bandung workshop in Java before being transported over 1000km by trucks for installation.

Current status:

source
gwkbali.com

 

[Bungaterakhir]

apa bedanya GDP per capita sama GNI Per capita ?

 

[nufix]

apa bedanya GDP per capita sama GNI Per capita ?

GDP ngukur total produksi dalam suatu negara terlepas apakah business atau individual sebagai agent produksi asing atau lokal.

GNI ngukur total income warga negara suatu negara terlepas apakah incomenya didapatkan dari negara tsb atau saat warge negara tsb bekerja diluar negeri.

Contoh, saya kerja di Jerman, output kerjaan saya ketika diukur dalam uang adalah bagian dari total produksi / GDP jerman. Tapi karena saya adalah warga negara Indonesia, gaji saya masuk dalam penghitungan GNI Indonesia. Begitu kira kira.

 

[Bungaterakhir]

thanks nuf.

 

[Logam42]

NOTHING TO SEE HERE

 

[trishna_amṛta]

Low Oil Prices a Risky Boon for Indonesia's Economy
| on 4:41 PM January 29, 2016

Is there any reason your posting news article from Jan 29, 2016 ?

Global crude oil prices hit eleven-year lows level in January and the World Bank forecast it would stay around $37 per barrel for some time.

At the time of this writing the last traded price for CLc1 (Light Crude) is at $69.51

 

[Bungaterakhir]

hahaahahahahah

 

[Logam42]

Is there any reason your posting news article from Jan 29, 2016 ?



At the time of this writing the last traded price for CLc1 (Light Crude) is at $69.51

....

This is what happens when you just click *Related News* link like a retard

Thx for telling me