Indonesia Economy Forum

[CountStrike]

Indonesian airlines given greenlight to fly to the US after FAA upgrades its safety rating
By Coconuts Jakarta August 8, 2016 / 15:24 WIB
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Photo: Wikimedia Commons
The Indonesian airline industry has gotten a lot of bad press for its safety lately (one survey earlier this year declared that 9 of the least safe airlines in the world were Indonesian) and certainly some Indonesian airlines cannot seem to get their acts together, but actually the country’s aviation sector has improved significantly overall in the last few years.

The best proof of that is the recent decision of the United State’s Federal Aviation Administration (FAA) to upgrade Indonesia’s flight safety rating from Category 2 to Category 1, which means that Indonesian airlines are now allowed to operate flights within the United States.

Indonesia previously had Category 1 status but lost it over a decade ago in the wake of the country’s economic crisis in the late 1990s. The country’s aviation industry recently underwent an audit by the FAA to see if it the country could now meet the Category 1 safety and security standards.

"[The standards] have been satisfied, we have already fulfilled them all," said the Transportation Ministry's director of airworthiness and aircraft operation, Mohammad Alwi, when announcing the upgrade on Friday as quoted byTempo.

At least one Indonesian airline has been counting on the upgrade to come through. National flagship carrier Garuda Indonesia previously announced plans to enter the US market next year, starting with routes to New York and Los Angeles.

 

[skyhigh88]

Four geothermal plants expected to start operation in Indonesia this year

Lahedong Geothermal Power Plant in Indonesia (source: ADB, Courtesy of CPI)

In a recent statement by the Director General of the EBTKE in Indonesia, he said that he is hopeful that four geothermal plants will start operations this year at Ulubelu, Sarulla, Lahendong and Karaha Bodas.

The Directorate General of Renewable Energy and Energy Conservation (EBTKE) Ministry of Energy and Mineral Resources (ESDM) recorded non-tax revenues (non-tax) of geothermal electricity (PLTP) until the first half of 2016 reached Rp288,25 billion ($20 million). With this it has reached 45 percent of the Rp630 billion ($43 million) target for 2016.

In a statement in local media, Director General of the Ministry of Energy and Mineral Resources EBTKE Rida Mulyana said that “the realization of the power supply from geothermal power plants in the first half of 2016 amounted to 1,493.5 MW. The achievement means that electricity from geothermal power plants has reached 90 per cent of the target of 2016 amounted to 1,657.5 MW. In fact, is expected to exceed the target by year-end.

Rida explains, geothermal power plants with a capacity of 55 MW comes from has issued Decree on Establishment MESDM Optima consortium PT Nusantara Energy and ENEL Green Energy (Italy) as the preferred bidder WKP Way Ratai (55 MW) in Lampung Province.

“The installed capacity was 1,438.5 MW, despite an additional 55 MW that started operation on July 15, 2016, which though has not been officially added, so it will be 1,493.5 MW”, so the Minister.

The recent investment from Italy, shows that Indonesia remains an attractive market for geothermal energy, despite the current market conditions in the oil and gas sector and a weak global economy. “We should be proud of a lot of investors who want to come to Indonesia, like now with the Way Ratai project with an estimated potential of 55 MW, again in Lampung,” he said.

He also mentioned that there are an additional capacity of 215 MW of geothermal power plants expected to start operation this year, with a capacity of the 55 MW Ulubelu plant, 110 MW at the Sarulla geothermal power plant, 20 MW at Lahendong and 30 MW at Karaha Bodas. If these four geothermal power plants are in operation this year, the supply of electricity from geothermal energy will exceed the target in 2016.

http://www.thinkgeoenergy.com/four-...ed-to-start-operation-in-indonesia-this-year/

 

[pr1v4t33r]

Garuda Named as `Most Loved` Airline by Skytrax
Garuda Indonesia Airline has been named as the most loved airline based on a survey conducted by Skytrax, an independent airline quality rating agency based in London, England.

Garuda Indonesia president director M Arif Wibowo said the company has earned the first spot as the world’s most loved airline. Garuda has 85 percent of customer satisfaction, the best among over 420 airlines the world over in Skytrax survey.

Arif has expressed his gratitude for the appreciation and support shown to Garuda Indonesia from people all over the world which were indicated by the survey.

“The award has made us proud but it is also a challenge in itself for Garuda Indonesia to always provide its best for passengers,” he said in a written statement in Jakarta, Tuesday, August 9, 2016.

Some aspects had been taken into account in the survey measuring for most loved airlines, namely passenger seat comfort, onboard services, onboard wifi, airport services, and flight service economic value.

Earlier, Garuda Indonesia had also been named as one of most loved airlines by TripAdvisor app.

The survey featured flight reviews from 49 countries and 29 languages.

http://en.tempo.co/read/news/2016/08/09/056794358/Garuda-Named-as-Most-Loved-Airline-by-Skytrax

 

[CountStrike]

Indonesia, SE Asia's digital powerhouse

• Tony Keusgen
  Country head, Google Indonesia
• Jakarta | Tue, August 9 2016 | 09:29 am

A joint Google-Temasek report recently predicted that, at this rate, Indonesia will have 215 million internet users by 2020, making it the fourth-largest globally.(Shutterstock.com/Phu Shutter)
An exciting thing happened in Indonesia in May — we crossed 100 million internet users. That is four times the number of people in Australia, making Indonesia the fifth-largest internet population in the world.

A joint Google-Temasek report recently predicted that, at this rate, Indonesia will have 215 million internet users by 2020, making it the fourth-largest globally.

Every day thousands of people across the archipelago are coming online for the first time. And since their introduction to the internet is through a smartphone, they are not necessarily thinking about the internet in the same way as people in the US or Japan.

They are demanding and creating a new internet that works best with their own specific needs. India and Indonesia are projected to be only two countries over the next five years that will expand their share of the world’s online population.

So Indonesia is not just “joining” the internet: The entire internet is in the process of becoming more Indonesian.

That new internet will work on Indonesians’ terms, on their phones, for their budget, in their towns, in their languages. And with these powerful smartphones in their hands, they will communicate their unique needs more clearly than ever before in the history of the country. Meeting those demands will create completely new segments of the economy.

For example, Indonesia has already become one of the most important countries for e-commerce on the planet, with local companies not just serving Indonesians but also becoming a leader for the region.

A Google study with Temasek estimates that Indonesia will be a US$46 billion e-commerce market by 2025, the largest in Southeast Asia.

The startup, hijup.com, is now a global pioneer in Muslim fashion ecommerce, growing from two employees managing 14 women’s fashion brands in 2011 to now having 150 employees and carrying over 200 brands.

Small businesses are doing amazing things, but global tech companies can also play a big part in supporting this movement and helping Indonesia create the internet that Indonesia wants.

An early step for us has been keeping up with consumer demands by making our own products more relevant for Indonesians. For example, Google just launched a partnership with TransJakarta to provide real-time update on bus arrival times in Google Maps.

What is also critical, however, is making sure that Indonesian startups, entrepreneurs and small companies know how to use the most cutting-edge platforms and tools so that they can expand their businesses and offer world-class services.

We love what we see already: Companies popping up to sell traditional foodbatagor or pempek online and
Go-Jek scooters skirting traffic to drop off packages.

The developer Own Games ID from Bandung turned the local dish tahu bulat into a game that that hit #1 in downloads on Google Play. To create more companies like that, we are currently engaged on a company-wide program to train 100,000 more Indonesians developers.

Meanwhile video creators, like Bayu Skak, are not just creating popular web videos but doing it their own native languages like Javanese.

Technology is also transforming more traditional industries. The websitekecipir.com uses the internet to help small-scale farmers bring organic produce to market in major urban centers like Jakarta, whilememeflorist.com, a small company in Central Java, is using the internet to help local florists around
Indonesia sell flowers in their cities. Sahabat Aqiqah sells goat meat online for religious holidays and other occasions.

Hoping to work more closely with Indonesian companies, we are holding an event tomorrow called Google for Indonesia, where executives from our headquarters in California will announce new initiatives and features that will help Indonesia do even more with the internet.

So 100 million internet users in Indonesia is an exciting moment — but just the beginning. The country is on its way to becoming Southeast Asia’s digital powerhouse, and we can’t wait to see what the talented entrepreneurs of this nation come up with.



***
The writer is country head, Google Indonesia.

 

[pr1v4t33r]

Indonesian President mulling cutting corporate tax rate to 17% to match Singapore
Indonesia's President Joko Widodo is considering cutting the corporate tax rate to 17 per cent from 25 per cent to match Singapore's tax rate, he has said.

"The thinking is simple. If Singapore's corporate income tax is 17 per cent and ours is 25 per cent, everybody will go there," Mr Widodo told a tax amnesty roadshow on Tuesday (Aug 9) night, according to the Cabinet Secretary's website.

http://www.straitstimes.com/busines...g-corporate-tax-rate-to-17-to-match-singapore

A Reform Reboot in Indonesia?
President Joko Widodo is finally showing himself to be much cleverer than his detracters had expected.

When Joko Widodo first became president of Indonesia in late 2014, pundits were skeptical that he could handle the job. His successes as a mayor of a small city in central Java and as governor of Jakarta while keeping his reputation clean may have excited the electorate. But dealing with city councilmen and getting a few roads built is quite different from navigating the Byzantine power relationships of Indonesia’s national politics.

During the first year of his presidency, Mr. Widodo seemed on course to prove his detractors right. His main patron, PDI-P party Chairwoman Megawati Sukarnoputri, treated Mr. Widodo as her subordinate. As the scion of the Sukarno family and a former president herself, Ms. Sukarnoputri barely tolerated Mr. Widodo.

It was Ms. Sukarnoputri, not Mr. Widodo, who picked Jusuf Kalla to be Mr. Widodo’s running mate. An old-school politician of Ms. Sukarnoputri’s generation, Vice President Kalla was installed to be a check against the president. He deftly stitched together a network of loyalists inside the cabinet who were at odds with Mr. Widodo’s agenda of reform.

A recent cabinet reshuffle by President Joko Widodo has demonstrated an unexpected degree of assertiveness and independence. Photo: Agence France-Presse/Getty Images
Being an outsider with few connections within Indonesian national politics, Mr. Widodo had little choice but to rely upon the advice and prompting of his coalition partners for selecting cabinet members. The result was a government filled with cliques formed around Ms. Sukarnoputri and Mr. Kalla. The president’s ministers, more beholden to the party than national interests, went in various, often opposite, directions when it came to matters of policy.

Now, with little more than 18 months in office, Mr. Widodo has shown he can learn from his mistakes. Following a recent shake-up of his cabinet, public portrayal of Mr. Widodo has shifted away from his being a weakling out of his league to one of a politician much cleverer than many had expected. One national newspaper, often critical of Mr. Widodo, splashed its front page with the headline, “Who’s the Boss Now?”

Mr. Widodo deserves credit for making some bold moves in the reshuffle, and there’s no denying he has finally managed to assert his presidential authority. But one has to wonder whether Mr. Widodo’s dramatic turnaround is the real deal.

One promising signpost is the fact that Mr. Widodo has managed to bring the Golkar party into his ruling coalition. This has effectively given his administration more control over the legislative agenda and put some comfortable distance between himself and Ms. Sukarnoputri. Already there is talk of PDI-P cabinet ministers starting to take Mr. Widodo’s policy pronouncements more seriously.

Mr. Widodo is also beginning to show some mettle. Ministers involved in policy disputes in public, caught playing off page with the president or simply performing poorly have been unceremoniously shown the door. Even some of Mr. Widodo’s confidantes, who were previously thought to be immune from removal, have either found themselves in a less influential cabinet post or completely out of a job. This is a fact not lost on members of the new cabinet.

What all this means for Indonesia’s economy and business community remains to be seen. Mr. Widodo’s appointment of Sri Mulyani, a former World Bank managing director, as his finance minister has instilled a lot of confidence at home and abroad. But some of his other picks, such as Acandra Tahar, a former consultant, as his minister of energy and mineral resources, and businessman Enggartiasto Lukita as the minister of trade, are unknown quantities.

Luhut Panjaitan, the former coordinating minister for legal, political and security affairs who is now the president’s coordinating minister for maritime affairs, is thought to be a friendly face to the business community. Now that Mr. Pandjaitan has taken over a portfolio that spans a broad swathe of the economy, many investors are hopeful he will improve the investment climate.

In the earlier days of his presidential campaign and when he first became president, there were genuine concerns that Mr. Widodo was more of an economic nationalist than a reformist. But those who have served under him are painting a more interesting portrait. As one senior economic advisor quipped, “Widodo has keen survival instincts and he knows that what is good for the economy is good for his presidency. He will listen to what technocrats such as Sri Mulyani will tell him is needed to keep the economy going.”

http://www.wsj.com/articles/a-reform-reboot-in-indonesia-1470760983

 

[papacita]

Indonesia Weighs Iran’s Proposal for $8.4 Billion Oil Refinery

Indonesia will study a proposal from Iran to build an oil refinery, along with bids from other countries, as it seeks to boost refining capacity to catch up with rising consumption.

Iran proposed a plant with processing capacity of more than 100,000 barrels a day and pledged to provide the crude, IGN Wiratmaja Puja, director-general of oil and gas at the Energy and Mineral Resources Ministry, said in Jakarta on Tuesday. The project’s value is estimated at $8.4 billion and would be built over four or five years in Java, Iran’s state run news agency Mehr reported, citing Hassan Khosrojerdi, head of the joint Iran-Indonesia refinery’s board of directors.

Indonesia, already the only OPEC member that’s a net oil buyer, may need to import half of its annual fuel needs even after increasing its refining capacity by 500,000 barrels a day in the next seven years, according to BMI Research. Iran is seeking to boost crude exports after international sanctions on its economy were eased in January.

A feasibility study on the refinery’s economic justification is being conducted, a spokesman for Iran’s oil ministry said. The National Iranian Oil Co. has not signed any deals on the project, he said. Indonesia has made no decision on Iran’s proposal because it’s still preliminary, Puja said.

Bontang Refinery

Indonesia has also received proposals from China, Kuwait and Russia, Puja said. The ministry hasn’t come to any decisions on the bids. The government plans to offer the Bontang refinery in East Kalimantan to investors before other projects, he said.

Indonesia’s refining capacity may grow 2 percent by 2025 while consumption surges 31 percent in the same period, according to BMI. The country, which reactivated its membership in the Organization of Petroleum Exporting Countries this year, produced 740,000 barrels a day of crude in July, according to data compiled by Bloomberg.

 

[skyhigh88]

iki opoo to?? repost kok berurutan???

Haha iya beda 1 menit doang.. Deleting post now

Korean insurer Hanwha to pump $134m into Indonesian expansion

By Monira Matin
Added 10th August 2016

Hanwha Life, South Korea's second largest life insurer, is set to pump KRW 150bn (£102m, €121m, $134m) into its Indonesian arm in a bid to expand its foothold in the country’s booming insurance sector.

According to Korean media reports, the firm will use KRW 80bn to develop distribution channels, which will see Hanwha more branches across Indonesia. It hopes to increase the number of branches from 10 to 44 over the next decade.

The insurer originally invested KRW 40bn in 2013 to become the first Korean insurer to operate in Indonesia, the largest life insurance market in southeast Asia, which is expected to grow at a rate of 10% until 2020.

Hanwha’s Indonesian unit recorded premium income of KRW 6.5bn at of the end of May, with an official from the company describing the market there as “very promising”.

The insurer also said it plans to grow the number of sales agents of Hanwha Life Insurance Indonesia from the current 1,200 to 12,000, by pursuing more bancassurance arrangements.

“The future of Korea’s insurance industry, which has reached a saturation point, depends on readiness to dominate the promising overseas market in advance,” a Hanwha Life executive said.

Hanwha Life said it will buy Indonesia’s long-term government bonds - with an expected yield return of over 7% - as part of its strategy to increase bond portfolio’s returns and break even as soon as possible.

The company also has operations in Vietnam, after spending KRW 100bn to set up Hanwha Life Vietnam in 2009.

- See more at: http://www.international-adviser.co...34m-indonesian-expansion#sthash.0YdAjw2t.dpuf

 

[UMNOPutra]

Thanks to Jokowi to epen your country for the expansion our banking like CIMB, Maybank and capital Bank and also your offer to take the majority ownership of Indon's state bank like Mandiri a, BNI and BRI ...

Top Malaysian financial players with a presence in Indonesia lauded the bilateral agreement between Indonesia and Malaysia, saying it will pave the way for greater access to conventional and Islamic banking. CIMB Group chief executive officer Tengku Datuk Seri Zafrul Aziz said the agreement is positive for the banking industry of both countries. “It is an additional impetus for CIMB Group to expand its business in Indonesia, particularly in the Islamic and consumer segments, where there are a lot of growth opportunities, given Indonesia’s 260 million population. “We also view the agreement between Indonesia and Malaysia as an important step towards better Asean economic integration, paving the way for CIMB to continue delivering its universal banking proposition for customers in the region.” Bank Negara Malaysia and Otoritas Jasa Keuangan of Indonesia have signed the agreement which will provide more access and operational flexibility for Malaysian and Indonesian Qualified Asean Banks operating in the respective jurisdictions. The agreement permits the formation of three banking groups that meet stipulated criteria to be classified as one of the Qualified Asean Banks, which would be afforded equal treatment as local lenders.

Indonesia Weighs Iran’s Proposal for $8.4 Billion Oil Refinery

Indonesia will study a proposal from Iran to build an oil refinery, along with bids from other countries, as it seeks to boost refining capacity to catch up with rising consumption.

Iran proposed a plant with processing capacity of more than 100,000 barrels a day and pledged to provide the crude, IGN Wiratmaja Puja, director-general of oil and gas at the Energy and Mineral Resources Ministry, said in Jakarta on Tuesday. The project’s value is estimated at $8.4 billion and would be built over four or five years in Java, Iran’s state run news agency Mehr reported, citing Hassan Khosrojerdi, head of the joint Iran-Indonesia refinery’s board of directors.

Indonesia, already the only OPEC member that’s a net oil buyer, may need to import half of its annual fuel needs even after increasing its refining capacity by 500,000 barrels a day in the next seven years, according to BMI Research. Iran is seeking to boost crude exports after international sanctions on its economy were eased in January.

A feasibility study on the refinery’s economic justification is being conducted, a spokesman for Iran’s oil ministry said. The National Iranian Oil Co. has not signed any deals on the project, he said. Indonesia has made no decision on Iran’s proposal because it’s still preliminary, Puja said.

Bontang Refinery

Indonesia has also received proposals from China, Kuwait and Russia, Puja said. The ministry hasn’t come to any decisions on the bids. The government plans to offer the Bontang refinery in East Kalimantan to investors before other projects, he said.

Indonesia’s refining capacity may grow 2 percent by 2025 while consumption surges 31 percent in the same period, according to BMI. The country, which reactivated its membership in the Organization of Petroleum Exporting Countries this year, produced 740,000 barrels a day of crude in July, according to data compiled by Bloomberg.

tI would be better and cheaper .. if you can buy all of your fuel products from our PETRONAS refinery .. You don't need to build a new refinery because it will be very expensive .. and I know that you still have no money to finance it ...

 

[skyhigh88]

Iran, Indonesia clinch lucrative oil deal

News ID: 3736195 - Tue 9 August 2016 - 11:13

TEHRAN, Aug. 09 (MNA) – An oil official, while describing the largest oil deal between Iran and Indonesia, said an 8.4-billion-dollar refinery will be constructed in Java.

Hassan Khosrojerdi, the head of Petrochemical, Gas and Oil Exporters’ Union, said all measures have been taken for construction of a 300-thousand-barrel refinery in Indonesia in collaboration with the Islamic Republic of Iran.

He estimated that the project costs will reach about 8.4 billion dollars and the refinery is scheduled to be constructed within 4.5 to 5 years; “all agreements have been reached and the Indonesian government has even allocated the land required for the project.”

Underlining that a Chinese financier and a European bank also hold partnership in construction of the crude refinery, Khosrojerdi asserted “a portion of the fund will be provided by Chinese and European parties.”

The official said the refinery's feedstock would be Iran’s heavy crude oil and the only remaining issue before launching the construction phase is inking an oil purchase contract with the National Iranian Oil Company (NIOC).

“A delegation of Indonesian oil officials including President Director & CEO of Pertamina Dwi Soetjipto have visited Iran in the current week and talks have begun for sealing the oil sale deal,” he continued.

Head of Petrochemical, Gas and Oil Exporters’ Union also noted that “Iran and Indonesia will enjoy 30 and 20 percent of the refinery’s share respectively while the remaining portion will be owned by China.”

Hassan Khosrojerdi referred to economic feasibility of refinery construction in Indonesia in view of the fall in oil prices saying “unlike crude oil, other oil products have not experienced a price decline.

“At the present time, the East Asian country is importing 800 thousand barrels of various oil products,” stated the official reiterating “no restrictions would exist for selling the output of the 300-thousand-baller complex.”

Managing Director of National Iranian Oil Company (NIOC) Ali Kardor said on Monday “the refinery project is at study phase and it will be economically justified only if the Indonesian side agrees with guaranteed purchase of crude oil form Iran.”

(Image from www.presstv.ir/)

Also on Monday on the sidelines of an MoU signing ceremony for development of two Iranian oilfields, Pertamina CEO Dwi Soetjipto voiced Indonesia’s readiness to import Iranian crude.

Created in August 1968, Pertamina is an Indonesian state-owned oil and natural gas corporation based in Jakarta.

HA/3735580

http://www.tehrantimes.com/news/405144/Iran-Indonesia-China-to-embark-tripartite-oil-investment

 

[skyhigh88]

The Wall Street Journal
Indonesia Considers Cutting Corporate Tax Rate
President Widodo suggests reducing corporate rate to 17% from 25%

Indonesian President Joko Widodo delivers a speech in Jakarta on Aug. 1. PHOTO: REUTERS

By I MADE SENTANA
Aug. 10, 2016 1:38 a.m. ET

JAKARTA, Indonesia—President Joko Widodo is considering cutting Indonesia’s corporate tax rate in an effort to make the Southeast Asian nation more competitive and discourage domestic companies from parking their money overseas.

“My thinking is simple. If the corporate income tax in Singapore is 17%, why do we have to impose a 25% tax here? How are we going to be able to compete?” Mr. Widodo was quoted as saying on the cabinet secretariat’s website on Wednesday.

Mr. Widodo told a gathering of wealthy Indonesians in Central Java’s capital of Semarang Tuesday evening that the government is trying to decide whether to cut the corporate tax rate at once or gradually reduce it from 25% to 20% and then to 17%, according to the cabinet secretariat’s website.

The government is also studying the possibility of making one of Indonesia’s islands a tax haven, where a minimal tax would be imposed on individuals and companies, the website quoted the president as saying.

Mr. Widodo said he hoped parliament would back the tax-cut plan and that it would be completed by next year, the website reported.

Lowering the corporate tax rate would give companies more cash for expansion, which in turn would generate more tax revenue for the government, said Handaka Santosa, a commissioner at publicly traded retailer PT Mitra Adiperkasa.

“Cutting corporate income tax is a must if we want to make Indonesia more competitive,” he said.

The government since late last year has introduced a raft of tax incentives to attract investment in the country as economic expansion in the $900 billion economy slowed to its lowest level in six years last year. But it hasn’t yet reduced the corporate tax rate.

Economists said in the near term cutting the corporate tax would strain the government’s budget, which has already come under pressure from weak commodities prices.

The government collected 522 trillion rupiah ($40 billion) in tax revenue during the first six months of the year, lower than 535 trillion rupiah during the same period last year.

Write to I Made Sentana at i-made.sentana@wsj.com

 

[Kalazan]

Thanks to Jokowi to epen your country for the expansion our banking like CIMB, Maybank and capital Bank and also your offer to take the majority ownership of Indon's state bank like Mandiri a, BNI and BRI ...

Top Malaysian financial players with a presence in Indonesia lauded the bilateral agreement between Indonesia and Malaysia, saying it will pave the way for greater access to conventional and Islamic banking. CIMB Group chief executive officer Tengku Datuk Seri Zafrul Aziz said the agreement is positive for the banking industry of both countries. “It is an additional impetus for CIMB Group to expand its business in Indonesia, particularly in the Islamic and consumer segments, where there are a lot of growth opportunities, given Indonesia’s 260 million population. “We also view the agreement between Indonesia and Malaysia as an important step towards better Asean economic integration, paving the way for CIMB to continue delivering its universal banking proposition for customers in the region.” Bank Negara Malaysia and Otoritas Jasa Keuangan of Indonesia have signed the agreement which will provide more access and operational flexibility for Malaysian and Indonesian Qualified Asean Banks operating in the respective jurisdictions. The agreement permits the formation of three banking groups that meet stipulated criteria to be classified as one of the Qualified Asean Banks, which would be afforded equal treatment as local lenders.



tI would be better and cheaper .. if you can buy all of your fuel products from our PETRONAS refinery .. You don't need to build a new refinery because it will be very expensive .. and I know that you still have no money to finance it ...

wait for our bank expansion to malonsia, and let us know how many branch that malonsia give to us to set up offices.
i heard that malon's government prohibit our banks to setup branch in malonsia. i heard your govt are afraid...or will be doing some tricky then. :o

 

[patu]

The Wall Street Journal
Indonesia Considers Cutting Corporate Tax Rate
President Widodo suggests reducing corporate rate to 17% from 25%

Indonesian President Joko Widodo delivers a speech in Jakarta on Aug. 1. PHOTO: REUTERS

By I MADE SENTANA
Aug. 10, 2016 1:38 a.m. ET

JAKARTA, Indonesia—President Joko Widodo is considering cutting Indonesia’s corporate tax rate in an effort to make the Southeast Asian nation more competitive and discourage domestic companies from parking their money overseas.

“My thinking is simple. If the corporate income tax in Singapore is 17%, why do we have to impose a 25% tax here? How are we going to be able to compete?” Mr. Widodo was quoted as saying on the cabinet secretariat’s website on Wednesday.

Mr. Widodo told a gathering of wealthy Indonesians in Central Java’s capital of Semarang Tuesday evening that the government is trying to decide whether to cut the corporate tax rate at once or gradually reduce it from 25% to 20% and then to 17%, according to the cabinet secretariat’s website.

The government is also studying the possibility of making one of Indonesia’s islands a tax haven, where a minimal tax would be imposed on individuals and companies, the website quoted the president as saying.

Mr. Widodo said he hoped parliament would back the tax-cut plan and that it would be completed by next year, the website reported.

Lowering the corporate tax rate would give companies more cash for expansion, which in turn would generate more tax revenue for the government, said Handaka Santosa, a commissioner at publicly traded retailer PT Mitra Adiperkasa.

“Cutting corporate income tax is a must if we want to make Indonesia more competitive,” he said.

The government since late last year has introduced a raft of tax incentives to attract investment in the country as economic expansion in the $900 billion economy slowed to its lowest level in six years last year. But it hasn’t yet reduced the corporate tax rate.

Economists said in the near term cutting the corporate tax would strain the government’s budget, which has already come under pressure from weak commodities prices.

The government collected 522 trillion rupiah ($40 billion) in tax revenue during the first six months of the year, lower than 535 trillion rupiah during the same period last year.

Write to I Made Sentana at i-made.sentana@wsj.com

Hope that Jokowi be supported to implementing his reform and good will for the better Indonesia

 

[UMNOPutra]

wait for our bank expansion to malonsia, and let us know how many branch that malonsia give to us to set up offices.
i heard that malon's government prohibit our banks to setup branch in malonsia. i heard your govt are afraid...or will be doing some tricky then. :o

We are not afraid ... but your banks still can't meet our "minimum" requirement (in term of capital and credit rating) to open its full branch in Malaysia... Currently, Mandiri only operate 5 remittance officers in Malaysia ...meanwhile our banks (CIMB, MayBank and Capital) have more than 3,000 branches in Indonesia ..

As said in the article ... we are glad to accept an offer from your Jokowi to be more aggressive to expand our banking business in Indonesia ... .....

 

[Svantana]

wait for our bank expansion to malonsia, and let us know how many branch that malonsia give to us to set up offices.
i heard that malon's government prohibit our banks to setup branch in malonsia. i heard your govt are afraid...or will be doing some tricky then. :o

Please ignore him... it is wasting your energy to argue with him

 

[Kalazan]

We are not afraid ... but your banks still can't meet our "minimum" requirement (in term of capital and credit rating) to open its full branch in Malaysia... Currently, Mandiri only operate 5 remittance officers in Malaysia ...meanwhile our banks (CIMB, MayBank and Capital) have more than 3,000 branches in Indonesia ..

As said in the article ... we are glad to accept an offer from your Jokowi to be more aggressive to expand our banking business in Indonesia ... .....

no, your gov

We are not afraid ... but your banks still can't meet our "minimum" requirement (in term of capital and credit rating) to open its full branch in Malaysia... Currently, Mandiri only operate 5 remittance officers in Malaysia ...meanwhile our banks (CIMB, MayBank and Capital) have more than 3,000 branches in Indonesia ..

As said in the article ... we are glad to accept an offer from your Jokowi to be more aggressive to expand our banking business in Indonesia ... .....

stupid argue...your country always do bad and tricky. what a f*uck of term? our banks are include in largest asean bank.
and have along time ago open branch in HK,Taiwan, SGP,LA.

not only from malon...many bank from around the world want to invest in indonesia, one of largest economy in the world. not tiny economy like malonsia. not to surprised than malon company very happy to take a portion of cake, big cake, big profit. many malon company and private come here... wow. beside that, your assest are secured in here...because once your govt regime fall, your be in jail... ;-)