Indonesia Economy Forum

[Nike]

VW plans to build car factory in Indonesia
Rabu, 19 Desember 2018 21:03 WIB - 2 Views

Reporter: antara

Logo Volkswagen (VW). (ANTARA News/HO)

Jakarta (ANTARA News) - Car maker, Volkswagen (VW), which is based in Wolfsburg, Lower Saxony, Germany, plans to build a car factory in Indonesia, a government official said.

"VW also wants to build an assembly line here. They want to produce Tiguan in Indonesia with an investment of 40 million-50 million euros," Director General of Metal, Machine and Electronic Harjanto told reporters here on Wednesday.

VW will name the factory Brand Holding Sole Agent (ATPM) PT Garuda Mataram, Harjanto said without naming the location of the factory.

He said he had no information yet about the location.

"The precise location of the assembly line is not yet known, nut they said VW already has investment in the country," he said

He said with the size of investment, the production capacity would not be very big as the production is to be exported to other ASEAN countries.

Reporting by Sella Panduarsa Gareta
Editing by Yoseph Hariyadi
Editor: Heru Purwanto

COPYRIGHT © ANTARA 2018

 

[katarabhumi]

Brazil and Indonesia to lead the way in emerging-market comeback
20 December 2018 - 10:51 Yumi Teso, Hannah Dormido, Selcuk Gokoluk and Netty Ismail

Forget the schnapps this season and grab a caipirinha. The new year will usher in a rebound in beaten-up emerging markets, with Brazil leading the charge, a Bloomberg survey shows.

Equities, currencies and bonds of developing economies have found a floor and will likely outperform their developed-nation counterparts in 2019, the survey of 30 investors, traders and strategists by Bloomberg showed. Brazil was the top pick for all three asset classes, with Indonesia another standout. Turkey, with its economy on course for recession, came bottom of the table on two counts.

Key to the anticipated 2019 turnaround is a less aggressive Federal Reserve, which dialled back projections for interest rates and economic growth as it hiked borrowing costs on Wednesday. That offers relief to developing nations that ramped up their dollar borrowing in recent years. A bottoming-out in China’s slowdown and reduced tensions on the trade-war front would also help emerging markets after their worst performance since the 2015 Chinese hard-landing scare.

“With the Fed moving towards the end of its tightening cycle, funds are likely to return to emerging markets,” said Hironori Sannami, an emerging-market currency trader at Mizuho Bank in Tokyo. “But the picture isn’t all that rosy given how the US-China trade friction will remain, keeping investors on their toes. If that trade concern clears up, risk appetite could come back even more.”

For now, emerging stocks are poised for a third straight quarter of declines, though currencies and bonds are enjoying a recovery from mid-year pain. The MSCI Emerging Markets Index of stocks is down 17% so far this year as of 7.33am in London, while MSCI’s currency measure is 4.2% lower. The Bloomberg Barclays index of emerging-market local bonds is down 1.7% since the year began through Wednesday.

Read here what the last survey showed

A majority of respondents in the December 5-December 17 survey expect all three asset classes to rise in 2019, as illustrated in the chart below.

And majorities across the board expect developing-nation assets to do better than developed-country ones, as seen below.

“Emerging-market equities look cheap, relative to developed markets and have underperformed significantly in 2018, so are due for a rebound,” said Daniel Morris, senior investment strategist in London at BNP Paribas Asset Management.

One market that’s less cheap now than it was mid-year is Brazil, where assets have rallied on optimism that the right-wing victor in the country’s presidential election, Jair Bolsonaro, will succeed in pursuing reforms and curbing the debt load of Latin America’s biggest economy. More recently, Indonesian markets have been on the rebound, after the country was battered by a tumbling exchange rate that prompted growth-damping rate hikes.

Bloomberg

https://www.businesslive.co.za/bd/m...-to-lead-the-way-in-emerging-market-comeback/

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Hyundai to open car plant in Indonesia, to build electric vehicles: Minister
20 Dec 2018 07:00PM

JAKARTA: Hyundai Motor plans to start producing electric vehicles (EVs) in Indonesia as part of an around US$880 million auto investment in the country, Industry Deputy Minister Harjanto said on Thursday (Dec 20).

The Korean company, which together with affiliate Kia Motors is the world's No 5 automaker, plans to build a factory in Indonesia with a capacity of around 250,000 units, including for electric cars, Harjanto said.

Indonesia has ample reserves of nickel laterite ore, a vital ingredient for the lithium-ion batteries used to power EVs.

The minister noted the plan was to export 53 per cent of the cars manufactured in the proposed Hyundai plant, mostly to Southeast Asia and Australia, while the remaining 47 per cent would be for the domestic market.

Hyundai's move to set up a plant in Indonesia comes at a time when the carmaker is trying to cut its reliance on China, its biggest market, where it and Kia are reeling from a weak recovery in sales after a diplomatic row between Seoul and Beijing and facing tough competition from local rivals.

Reuters reported in August that Hyundai and Kia were considering shipping Chinese-made vehicles to Southeast Asia to address its weak sales and its excess capacity.

Hyundai does not have a car making factory in Southeast Asia, although it has some pure assembly operations in Vietnam.

A Hyundai spokeswoman said they "did not have immediate comments" about the company's Indonesia plans.

Separately, Hyundai-Kia's think tank vice president Lee Bo Sung said on Thursday the ASEAN market has growth potential, but that it is difficult to "penetrate" as it is dominated by Japanese rivals such as Toyota and Honda .

Last month, Hyundai announced an US$250 million investment in Singapore's ride-hailing firm Grab and a plan to offer EVs to Grab drivers in Southeast Asia.

https://www.channelnewsasia.com/new...plant-in-indonesia-to-build-electric-11050052

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[Nike]

Indonesia now controls 51 percent of Freeport shares


News Desk
The Jakarta Post

Jakarta

Jakarta / Thu, July 12, 2018 / 03:31 pm

President Joko "Jokowi" Widodo(Antara/Rosa Panggabean)


State-owned mining holding company Inalum now owns a 51 percent share of gold and copper miner PT Freeport Indonesia after years of “tough” negotiations, President Joko “Jokowi” Widodo announced on Thursday.

“I received reports that our mining holding company, Inalum, has reached an agreement with Freeport related to our 51 percent ownership of [Freeport] from the previous figure of 9.36 percent,” Jokowi said at the Indonesia Convention Exhibition (ICE-BSD) in Tangerang, Banten.

Previously, US mining giant Freeport McMoRan Inc. (FCX), a parent company of PT Freeport Indonesia, owned 90.64 percent of PT Freeport Indonesia’s shares.

The President described the three-and-a-half-year negotiation process as “very tough”.

He did not reveal the value of the divestment, saying that he had authorized State-Owned Enterprises Minister Rini Soemarno, Finance Minister Sri Mulyani and Energy and Mineral Resources Minister Ignasius Jonan to handle the matter.

He said the completion of Freeport’s divestment was a breakthrough for Indonesia, because the country could now enjoy more taxes, royalty and dividends from the company.

“Our national interests should come first,” Jokowi said, adding that the successful deal was followed by the takeover of Mahakam Block, now managed by state-owned energy giant Pertamina. (bbn)


https://www.thejakartapost.com/news...w-controls-51-percent-of-freeport-shares.html

 

[Nike]

Freeport buyout is clear evidence of Indonesia government and SOE ability to conduct business as proffesional and in accordance to business concept and standard in International community. So there is more chance for further investment like what happened to Freeport today

 

[Nike]

Freeport set to have smelter operational in five years
Sabtu, 22 Desember 2018 18:40 WIB - 0 Views

Reporter: antara

PT Freeport McMoran's Supreme Executive Officer (CEO) Richard Adkerson after meeting President Joko Widodo at Merdeka Palace, Jakarta on Friday (12/21/2018). (Bayu Prasetyo)

Jakarta (ANTARA News) - President, Chief Executive of Freeport Mcmoran Richard Adkerson said the company is set to finish the construction of a copper smelter in Indonesia in the next five years.

"We will build smelter as expected by the President. We will start as soon as possible and to finish it in five years," Adkerson said here on Friday afternoon.

The U.S. mining giant, the parent company of PT Freeport Indonesia, has agreed to build a copper smelter with a processing capacity of 2-2.6 million tons of copper ore per year as part of the new contract of the company in Indonesia.

The smelter is to refine copper concentrate produced by PT Freeport Indonesia, which has large copper and gold mine in Grasberg Papua.

An Indonesian law regulation bans exports of unprocessed minerals that necessitates mining companies to process their mineral ore to be processed in the country.

The divestment process was completed on Friday increasing to 51.2 percent the share of the government represented by state-owned PT Inalum, the holding company for state-owned mining companies.

"The majority 51.2 percent of PT Freeport is now in the hands of PT Inalum and the price has been fully paid." President Joko Widodo (Jokowi) said when announcing the final phase of the divestment process on Friday.

Jokowi described that day a historic moment after PT Freeport operates in Indonesia as from 1973.

Inalum has already held 9.36 percent share of Freeport and it had to pay US$3.85 billion to raise the stake to 51.2 percent.

Adkerson said the cooperation would have positive impact on both Indonesia and Freeport.

"I thank the government of Indonesia and will seek to meet the request of the President and now we could resume business with legal and fiscal certainty until 2041," he said.

He said Freeport will start open mining and will invest US$20 billion in the Grasberg copper and gold mine until 2041, the end of Freeport contract in Papua.

The government granted 10 percentage point of Inalum`s share in PT Freeport Indonesia to Papua provincial administration.

Reporting by Bayu Prasetyo
Editing by Fardah Assegaf
Editor: Heru Purwanto

COPYRIGHT © ANTARA 2018

 

[trishna_amṛta]

Freeport set to have smelter operational in five years

Read between the line, this mean they don't intend to build it by waiting for the next election cycle in 2024

 

[Logam42]

Read between the line, this mean they don't intend to build it by waiting for the next election cycle in 2024

Lets see how possible that is when more than half of the board of directors & commissioners are appointed by the Indonesian Gov!

 

[trishna_amṛta]

Merely having 51% (or any percentage) of share DOESN'T automatically guarantee such privilege. As I recall I've already post something about this deal some time ago here which I've mention the underlying prerequisite clause in that deal. And that prerequisite clause was published in the press release, and with this kind of deal there are always unpublished clauses. So far from what I've heard (industrial rumors) is FCX still has more than enough "pull" regardless of the stock holder composition, and such arrangement could be easily done through multiple legal means.

Don't get me wrong, I'm big supporter for the current Jokowi administration, however this deal is more of a publicity & political stunt than actual (practically enforceable) business deal.

 

[Logam42]

Merely having 51% (or any percentage) of share DOESN'T automatically guarantee such privilege. As I recall I've already post something about this deal some time ago here which I've mention the underlying prerequisite clause in that deal. And that prerequisite clause was published in the press release, and with this kind of deal there are always unpublished clauses. So far from what I've heard (industrial rumors) is FCX still has more than enough "pull" regardless of the stock holder composition, and such arrangement could be easily done through multiple legal means.

Don't get me wrong, I'm big supporter for the current Jokowi administration, however this deal is more of a publicity & political stunt than actual (practically enforceable) business deal.

Well... while the freeport deal isn't the fix all that some are making it to be, having the majority of directors who do not owe their loyalty to Freeport but to either BUMN or the Indonesian Gov, is still a huge deal that opens many, many doors for Indonesia and closes a lot of doors for Freeport.

One of the reasons that the government has been obsessed with forming holding companies during the last year or so is so that it can demand access to corporate documents not only as a government or regulator, but as a shareholder, meaning that even without going through the messy and slow process of legislation or regulation, the government can intervene in arguably the corporation's weakest link: The Shareholder's Meetings.

Now, Directors, as the appointees of the shareholders, hold immediate and continuous powers to supervise the company in the name of the shareholders and often represents the company as its spokesman in private meetings. Remember "Papa Minta Saham"? Who caused that?

Maroef Sjamsoeddin. Former BIN Deputy, put into the Freeport Board of Directors (President Firector) for resolving a 2011 Freeport workers strike in its favour. Invited in his capacity as a Freeport Director, He recorded Setya Novanto and sent it to Sudirman Said, who released it to the press. The result was a PR disaster for Freeport.

That was one director, who was cherry-picked by Freeport for his perceived loyalty to Freeport.

Having the majority of directors making sure that Freeport is toeing the deal and actively working to undermine it when it isn't is going to be a huge boon to Indonesia. After all, they have access no only to the Corporate documents, but to the day-to-day operations of Freeport. It is very hard to hide anything from your directors.

Yes, operations wise Freeport will still call the shots, but guess who now have access to enough data to practically autopsy Freeport operations? The answer is the BUMN Inalum & Co, and by proxy, Indonesia. Over the next 21 years, that will count for a lot.

 

[CountStrike]

Hyundai to open car plant in Indonesia for electric cars
Hyundai’s move to set up its first car factory in Southeast Asia fits into the South Korean carmaker’s strategy of cutting its reliance on China
Last Published: Fri, Dec 21 2018. 06 05 PM IST
Cindy Silviana, Fanny Potkin & Hyunjoo Jin, Reuters
Hyundai Motor Co. Ltd plans to start producing electric cars in Indonesia as part of an around $880 million auto investment in the country, the deputy minister for industry said on Thursday. Hyundai’s move to set up its first car factory in Southeast Asia fits into the South Korean carmaker’s strategy of cutting its reliance on China, where competition is intense and its sales have suffered from diplomatic tensions between Seoul and Beijing.

Hyundai, which together with affiliate Kia Motors is the world’s No.5 automaker, plans to build a factory in Indonesia with a capacity of about 250,000 units, including for electric cars, Indonesian deputy minister for industry Harjanto told Reuters.

Indonesia has ample reserves of nickel laterite ore, a vital ingredient for the lithium-ion batteries used to power electric vehicles.



The minister noted the plan was to export 53% of the cars manufactured in the proposed Hyundai plant, mostly to Southeast Asia and Australia, while the remaining 47% would be for the domestic market.

Hyundai said in a statement on Friday that it was “considering various ways to expand” in new markets, including Southeast Asia. It added however that nothing had been decided regarding new production facilities in the region.

Japanese rivals



Hyundai briefed South Korean union officials earlier this year about a plan to build a factory in Indonesia, three people familiar with the matter told Reuters on Friday. One of the challenges it identified was building sales networks, the people said.

Hyundai-Kia’s think tank vice president Lee Bo-sung said on Thursday the Asean market was difficult to “penetrate” as it was dominated by Japanese rivals such as Toyota and Honda.

In Indonesia, Hyundai sold only 1,372 vehicles during the January to October period, compared with Toyota’s 463,565 vehicles, according to data from market researcher LMC Automotive.



Hyundai does not have a car factory in Southeast Asia, although it has some assembly operations in Vietnam. Last month, Hyundai announced a $250 million investment in Grab, the Singaporean ride-hailing firm, and a plan to offer electric vehicles to Grab drivers in Southeast Asia.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

 

[Nike]

Big investment expected in pharmaceutical and textile industries
Sabtu, 29 Desember 2018 11:25 WIB - 4 Views

Reporter: Antara

Director General of Chemical, Textile,and Multifarious Industries (IKTA) Achmad Sigit Dwiwahjono (ANTARA News/ Biro Humas Kementerian Perindustrian)

Jakarta (ANTARA News) - The Industry Ministry said it hopes to see new investments in the pharmaceutical and textile industries worth around Rp130 trillion in 2019.

Director General of Chemical, Textile,and Multifarious Industries IKTA) Achmad Sigit Dwiwahjono said the Ministry will start reorganization on January 1, 2019 and IKTA Directorate General would be renamed Chemical,Pharmaceutical and Textile Industries (IKFT).

"Next year, investors would tend to be in wait-and- see position amid the political year. However, long term investors would continue. Medium term investors might wait," Sigit told Antara here on Friday.

He said investment in the chemical industry would likely be larger in the IKFT sector as it needs higher technology and large capital.

In addition, supplies of upstream chemicals are still dominated by imports that the Industry Ministry needs to attract more investment to the sector, he said.

"There is already investor interested in the upstream chemical industry from South Korea, but the interest is still in the phase of negotiation as we are weak in upstream chemical sector," he said.

In the pharmaceutical sector, Sigit expressed optimism that pharmaceutical industry would grow 7-10 percent in 2019 as the program of National Health Security (JKN) still is a magnet to attract more investment.

"The JKN program pushes up demand in the pharmaceutical industry that I am optimist this sector would continue to grow next year," Sigit said.

Investment in the pharmaceutical industry would be dominated 55 percent by foreign investors with local investors accounting for 45 percent, he said.

Sigit said, South Korean investors also are interested in textile industry , which is also a major industry in the country.

He said he hoped the target could be achieved next year that the IKFT could contribute significantly to the national industrial growth .

Reporting by Sella Panduarsa Gareta, Saragih
Editing by Otniel Tamindael
Editor: Fardah Assegaf

COPYRIGHT © ANTARA 2018

 

[Nike]

Year Ender - Infrastructure development key to strengthening connectivity, unity by Fardah Assegaf
Sabtu, 29 Desember 2018 19:13 WIB - 3 Views

Reporter: Fardah Assegaf

The picture of the elevated toll road of Bogor Outer Ring Road of the section of Sholeh Iskandar in the city of Bogor, West Java, taken from air on Monday (24/12/2018). ANTARA FOTO/Yulius Satria Wijaya/foc.

Jakarta (ANTARA News) - The Joko Widodo (Jokowi) - M. Jusuf Kalla administration has intensified infrastructure development across Indonesia during their first four-year term, starting October 2014, as the projects are expected to strengthen connectivity, economic growth, and national unity.

Seeking a second term in office, incumbent Jokowi pledged that the government will next focus on making massive investment in human capital development to produce high-quality and competent human resources.

The human resources development program, however, will be in synergy with other programs, including with physical infrastructure projects and technology innovation program.

Hence, the government continues to allocate funds amounting to Rp400 trillion in the State Budget for the development of infrastructure in 2019, despite shifting its focus to the development of human resources.

Funds for the 2019 State Budget will reach a total of Rp2,461 trillion for expenses, Finance Minister Sri Mulyani stated recently.

Allocation for infrastructure will reach Rp400 trillion; health sector, Rp120 trillion; and education, Rp500 trillion, she outlined.

During the 2015-2018 period, the government had developed new roads, stretching a total of 3,432 kilometers (km), in Kalimantan and Papua border areas as well as East Nusa Tenggara, among others. The new roads exceed the target of 2,650 km by 2019.

The government has also built new bridges, spanning 39,798 meters, exceeding the target of 29,859 meters by 2019.

Among several major government-sponsored infrastructure projects are the Mass Rapid Transit (MRT) project in Jakarta and Light Rail Transit (LRT) projects in Palembang, the capital of South Sumatra, and Jakarta; the Trans-Sumatra toll road in Sumatra, the Manado-Bitung toll road in North Sulawesi, and Trans Papua project; the Kuala Tanjung International Hub Port in North Sumatra and the Bitung International Hub Port in North Sulawesi; Kertajati Airport in West Java; and Karangkates IV & V hydroelectric power plants in East Java and the 500-kilovolt electricity transmission grid in Sumatra.

Better infrastructure has helped connectivity in the country having over 17 thousand islands, and brought the people closer, thereby strengthening the national unity. Indonesia has some 1,340 indigenous tribes and at least 300 ethnic groups.

"Many of us have got this wrong that when we build they see just the physical forms - toll-roads, airport, MRT (Mass Rapid Transit), and LRT (Light Rail Transit). What we really do is to build civilization and cultural connectivity. Building infrastructure projects must be seen as our efforts to unite ourselves," President Jokowi had noted on August 16, 2018, in his annual address to the Parliament on the eve of Indonesia`s 73rd Independence Day.

"As a plural country, we want to grow and prosper together," Jokowi noted.

"One thing we may not forget is that building infrastructure projects is building the nation`s mentality and character," he affirmed.

Infrastructure projects have not only been focused on the most populous island of Java but also spread out from Sumatra to Papua, as the government aims to ensure that everyone across Indonesia benefits, according to Jokowi, who has had a busy agenda, with inauguration ceremonies of infrastructure projects until next year.

On April 17, 2019, Indonesia will hold simultaneous legislative and presidential elections.

Acceleration of infrastructure development will create new economic centers that will in turn offer added value to Indonesia`s regions.

Furthermore, infrastructure development is in line with the public`s aspirations of better and good-quality infrastructure services, according to Public Works and Public Housing Minister Basuki Hadimuljono.

"In the past, infrastructure was developed to meet the basic needs, but now, it aims to improve our competitiveness," he noted.

The millennial generation should be cognizant of the importance of the infrastructure sector in unifying and boosting economic activities in Indonesia.

Moreover, infrastructure development, which has been a priority program during the Jokowi-Kalla administration, will become an asset for the millennial generation to be more competitive, the minister noted.

Infrastructure development also builds a foundation for a giant leap into the future to be initiated by the Indonesian younger generation.

The millennial generation will become a decision maker for the future of Golden Indonesia 2045.

Meanwhile, Chairman of Indonesian Entrepreneurs Association (APINDO) Hariyadi B. Sukamdani said that strengthening connectivity between regions, from the westernmost to easternmost parts of Indonesia, has become a challenge for businesspersons.

"Strengthening connectivity is deemed necessary to stimulate the growth of the economy in every region," Sukamdani remarked during a seminar on The Future Digital Transformation, Government & Private Partnership on December 10, 2018.

A similar view was also voiced by Chairperson of APINDO for Transportation Affairs Carmelita Hartoto.

"Indonesia is an archipelagic country. Strengthening Indonesia`s connectivity requires an integrated network of all modes of transportation, covering land, sea, air, and rail," she stated.



Editing by Yoseph Hariyadi
Editor: Yosep Hariyadi

COPYRIGHT © ANTARA 2018

 

[Nike]

 

[Nike]

Agro processing industry expected to grow 7.10 percent this year
Minggu, 6 Januari 2019 21:32 WIB - 1 Views

Reporter: Antara

The acting director general of agro processing industry Achmad Sigit Dwiwahjono. (ANTARA News/ Biro Humas Kementerian Perindustrian)

Bengkulu (ANTARA News) - The Industry Ministry has projected the agro processing industry will grow 7.10 percent this year, higher than last year`s 6.93 percent.

High demand for foods and beverages during the 2019 general election momentum is expected to boost the agro processing industry, the ministry`s acting director general of agro processing industry, Achmad Sigit Dwiwahjono, said in a press statement received on Sunday.

"In this political year, several sectors including food and beverage manufacturers will have great opportunities," he said.

In the third quarter of last year, the agro processing industry grew 7.23 percent per annum.

"We are optimistic that the growth of the agro processing industry in 2019 will be higher than the target of 7.10 percent," he added.

The agro processing industry is currently a key sector to boost the performance of non-oil/non-gas commodity processing industry which also contributes to the national economic growth.

"The growth is supported by the growth of sub-sectors such as food and beverage industry, tobacco product industry, wood, bamboo and rattan processing industry, paper industry and furniture industry," he said.

The agro processing industry contributed up to 49.11 percent to the total domestic product (GDP) in the non-oil/non-gas sector in the first half of 2018.

During the same period, exports from the agro processing industry contributed US$23.26 billion or 26.43 percent to the overall national exports.

"This means that our agro products have been able to compete at a global level," he pointed out.

Investment in the agro processing industry has also pushed the growth of the manufacturing sector in Indonesia.

In the first semester of 2018, domestic investment in the agro processing industry stood at Rp24.32 trillion, while foreign investment hit a record high of US$1.1 billion.



Reporting by Sella Panduarsa Gareta

Editing by Suharto/Rahmad Nasution
Editor: Gusti Nur Cahya Aryani

COPYRIGHT © ANTARA 2019

 

[Nike]

PT Semen Baturaja records 24 percent increase in sales
Senin, 7 Januari 2019 13:00 WIB - 3 Views

Reporter: Antara

State-owned cement producer PT Semen Baturaja (SMBR) has recorded a 24 percent increase in sales at 2.17 million tons in 2018, as compared to 1.76 million tons in the previous year.. (ANTARA/Didik Suhartono)

Jakarta(ANTARA News) - State-owned cement producer PT Semen Baturaja (SMBR) has recorded a 24 percent increase in sales at 2.17 million tons in 2018, as compared to 1.76 million tons in the previous year.

The company`s President Director Jobi Triananda Hasjim noted in a statement here on Monday that the record had surpassed the average growth of the country`s industry at five percent in 2018.

"The growth of SMBR sales volume this year is one of the highest in the industry sector," Hasjim pointed out.

In December 2018, the company`s cement sales had reached 220,737 tons, or up 22 percent as compared to December 2017.

According to data of the Indonesian Cement Association, as of November, SMBR`s market share has continued to increase and led the markets in South Sumatra and Lampung, with 54 percent and 26 percent shares respectively.

Moreover, market shares in Jambi were recorded at 14 percent; Bengkulu, eight percent; and Bangka Belitung, five percent.

"The growth in sales volume has surpassed the rise in demand in all its marketing regions," Jobi added.

Reporting by Afut Syafril Nursyirwan, sri Haryati

Editor: Fardah Assegaf

COPYRIGHT © ANTARA 2019