Indonesia Economy Forum

[Svantana]

West Sumatra

is a province of Indonesia. It lies on the west coast of the island of Sumatra. The latest official estimate for January 2014 shows a population of 5,098,790. West Sumatra is sub-divided into 12 regencies and seven cities. It has relatively more cities than other provinces in Indonesia, except Java province.[2] Its capital is Padang. The history of West Sumatra is related to the history of the Minangkabau people.

https://en.wikipedia.org/wiki/West_Sumatra

 

[acelaw]

Indonesia in Race to Meet Demand for Satellites
source
Quote:
Indonesia is deploying more satellites in orbit in anticipation of growing demand for connectivity and to reduce dependency on foreign operators.

Telekomunikasi Indonesia, the country's largest telecom operator, has scheduled the launch of its Telkom 3S satellite next Wednesday (15/02), to replace its first-generation satellite that will be decommissioned this year.

Private satellite communication company Pasifik Satelit Nusantara (PSN) plans to launch its PSN-6 satellite in the next few months. Another Telkom satellite, Telkom 4, is in the pipeline to be launched next year.

"Demand for satellite communication here will continue to grow, based on the fact that Indonesia is a vast archipelago of 17,000 islands with a population of 252 million people, an increasing number of which are mobile phone, satellite TV, or consumer broadband users," said Jonathan Hung, president of the Singapore Space and Technology Association (SSTA), a non-government organization that promotes space programs.

Indonesia currently has more satellite operators than any other country in Southeast Asia. They are Telkom, PSN, Media Citra Indostar, Indosat Ooreedoo and lender Bank Rakyat Indonesia.

But it still needs 100 satellite transponders to meet its telecommunication demands, forcing the country to rely on service from foreign satellite operators, the Indonesia Telecommunication Society (Mastel) said.

 

[papacita]

Moody's Upgrades Indonesia Outlook to Positive as Finances Improve

Jakarta. Moody's Investors Service upgraded its credit outlook on Indonesia to "positive" from "stable", praising its progress on reforms and its efforts to keep finances under control despite falling prices for its main commodity exports.

Moody's upgrade late on Wednesday (08/02) follows a similar move by Fitch in December, and comes at a welcome time for Indonesia's policymakers as they seek to attract and retain more foreign investment as emerging market assets globally come under stress.

Indonesia's rupiah currency and its main stock index edged up in early trade on Thursday.

Outlook upgrades typically mean a country is closer to a ratings upgrade, which would allow it to sell government bonds at lower rates and attract more foreign investors.

"The positive outlooks from Moody's and Fitch suggest Indonesia's sovereign credit rating is on an uptrend. We expect the factors cited by Moody's...to continue and ultimately translate into a ratings upgrade," economists at Nomura said in a note.
http://jakartaglobe.id/business/moodys-upgrades-indonesia-outlook-positive-finances-improve/

Japanese lenders ink Indonesian geothermal deal

Lenders led by Japanese financiers have extended US$440mn to a geothermal power project in Indonesia.

The co-financing was led by the Japan Bank for International Co-operation (JBIC), which has contributed US$198mn from its own book. The Asian Development Bank (ADB) then led a syndicate of commercial banks on the rest of the financing.

The syndicate was composed of BTMU, Mizuho and SMBC, with the commercial portion of the debt being covered by Nippon Export and Investment Insurance (Nexi), a Japanese government-owned agency.

The finance will fund the Muara Laboh geothermal power project, being built by Supreme Energy Muara Laboh (SEML), an Indonesian subsidiary of Engie, the French power company. The project is in the South Solok area of West Sumatra. It will eventually have a generating capacity of 80MW, which will be sold to the state-owned power utility PT PLN over a 30-year period.

SEML will be joined in a consortium by Japanese industrial giant Sumitomo Corporation on the construction of the project, which explains the involvement of Japan’s export credit agency (ECA), JBIC.

Muara Laboh will power 120,000 homes in Indonesia, the world’s highest-populated Muslim nation and Southeast Asia’s largest economy. The power will be emissions-free and is a key part of the Indonesian government’s drive to reduce carbon emissions by 29% by 2030.

Indonesia has some of the world’s largest geothermal energy potential, and the government has been actively promoting the sector’s development since introducing a new law in 2014 that allows international companies to access the resources.
http://www.gtreview.com/news/asia/japanese-lenders-ink-indonesian-geothermal-deal/

Taiwan eyes closer cooperation with Indonesia

TAIPEI (Taiwan News) - With the “New Southbound Policy” entering into full force and effect, Taiwan is seeking to forge closer bilateral ties with Indonesia, a nation that has enjoyed a robust economic growth in recent years.

Indonesia, Southeast Asia’s largest economy, is also the world’s largest Muslim-majority nation.

Taiwan’s Ministry of Economic Affairs (MOEA) has included the Southeast Asian nation in the first phase of the policy, along with the Philippines, India, Thailand, Malaysia, and Vietnam.

According to the international professional services firm PwC’s latest report published on Wednesday, Indonesia is projected to be the world’s fourth largest economy by 2050.

“By 2050, emerging economies such as Mexico and Indonesia are likely to be larger than the UK and France, while Pakistan and Egypt could overtake Italy and Canada,” the report said.

Indonesia is also Taiwan’s 12th largest partner, with over 1,700 Taiwanese companies investing in the country.

Robert James Bintaryo, representative of the Indonesian Economic and Trade Office (IETO) in Taipei, said that Indonesian President Joko Widodo has focused heavily on developing the nation’s infrastructure, especially the construction of highways, ports, railways, and electricity, a field of which he has encouraged foreign investment.
http://www.taiwannews.com.tw/en/news/3090161

Indonesia, South Africa talk to boost trade

Indonesia and South Africa are strengthening their economic cooperation, Indonesia’s top diplomat has revealed, as a delegation of state officials and businesses seeks to bolster the country’s presence on the African continent.

Foreign Minister Retno LP Marsudi was in Cape Town on Monday for bilateral talks with her South African counterpart. She encouraged state-owned firms in her entourage to seize the available trade and investment opportunities in South Africa.

She said an agreement was struck with South Africa’s International Relations and Cooperation Minister Maite Nkoana-Mashabane to finalize a plan of action for both countries’ 2017–2021 Strategic Partnership, which would act as the basis of future economic cooperation.

Afterwards, Retno spoke to a South African-Indonesian business forum, inviting local businesses from the energy, shipping, and strategic industry sectors, as well as travel agents and importers of furniture and foodstuffs, to “trade, invest in and tour” Indonesia.

“Indonesian and South African businesses must take advantage of [our] very good political relations to realize mutually beneficial trade and investment opportunities,” she told participants.

The forum was also attended by representatives of state-owned strategic industry firms including aerospace firm PT Dirgantara Indonesia, weapons maker PT Pindad and shipbuilder PT PAL.

Daniel Tumpal Simandjuntak, the Foreign Ministry’s director for African affairs, revealed that PT Pindad had offered to South African businessmen its signature Anoa 6x6 armored personnel vehicle, while PT PAL advertised its KCR-60 fast missile ships.

One of the results of the forum includes a plan to import 18 containers worth of consumer goods from Indonesia, as well as an assessment of plans to build an instant noodle production facility in South Africa.

The meeting with Nkoana-Mashabane also produced a number of new initiatives, including a free-visa agreement for service and diplomatic passport holders, an agreement on diplomat training and other engagements in the marine and fisheries sector.

Whilst in Cape Town, Retno also paid a courtesy call to President Zuma to personally convey an invitation to participate in the upcoming Indian Ocean Rim Association (IORA) Leaders’ Summit in Jakarta next month.

South Africa and Indonesia are both founding members of IORA, which comprises 21 coastal states that border the Indian Ocean. Indonesia served as vice chair of IORA from 2013 to 2015 and is now the current chair.
http://www.thejakartapost.com/news/2017/02/08/indonesia-south-africa-talk-to-boost-trade.html

 

[Nike]

PT Timah to export 30 thousand tons of tin
Kamis, 9 Februari 2017 23:16 WIB - 0 Views

Pangkalpinang (ANTARA News) - Publicly listed state-owned tin mining firm PT Timah has outlined a target to export 30 thousand metric tons of the processed metal in 2017.

"We are optimistic of being able to achieve the target, as the national and global economic and political conditions have not had a significant impact on tin exports," PT Timah Corporate Secretary Sutrisno Tatetdagad stated here on Thursday.

He said the volume of its tin exports had declined in 2016, as there was an adjustment following the issuance of Trade Ministerial Regulation No. 33 of 2015.

The volume of its tin exports in 2016 was recorded at 21 thousand metric tons, down as compared to 30 thousand metric tons in 2015.

"Currently, the price of tin in the world market is US$19 thousand per metric ton or higher than that in the previous year," he pointed out.

Tatetdagad stated that exports in 2016 were relatively under control, as exports of the metal were tightened following the issuance of Trade Ministerial Regulation No. 33 of 2015 that necessitated companies to have Clear and Clean Certificates, obtain a pure tin ingot Registered Exporter Permit, and sell at the Indonesian Derivatives and Commodities Bourse.

Since the imposition of the trade ministers regulation, the volume of Indonesian tin exports ranged between 60 thousand and 65 thousand metric tons.

He remarked that in a bid to maintain stability in tin prices in the global market, PT Timah had been consistent in supporting the governments policy through the imposition of Trade Ministers Regulation No. 33 of 2015 to reduce the volume of metal exports to the global market.

"We will consistently gauge the global demand, so that the price of tin in the world market will remain stable," he added.(*)
Editor: Heru

COPYRIGHT © ANTARA 2017

 

[Svantana]

Borobudur Vessel Expedition, from Relief to Reality

Taking 4 months and 6 days, Deale’s intention to build a replica of the vessel was finally realized. Twenty-six carpenters made a vessel named Samudraraksa from several best woods namely teakwood, ironwood, bungur, bintangur, and kalimpapa. They only used ropes and natural glues to connect the vessel’s parts, since Deale wanted to build a vessel identical with the one in ancient time. The ship was built using the traditional building techniques with no nails or iron.

The vessel with 18.29-meter length, 4.25-meter width, and 2.25-meter height was ready for a voyage to prove its toughness in exploring oceans from 12,210 miles. By only using oars and sails, the 30-gross tonnage (GT) vessel with 15-people capacity sailed on August 15th 2003 from Ancol, North Jakarta passing Cinnamon Route namely Indonesia, Maldives, Madagascar, Cape Town, and Ghana.

The Borobudur Ship Expedition successfully completed the main objectives of the proj- ect, and the performance characteristics of the ship under sail proved its capability for sailing around the Cape of Good Hope to West Africa, providing evidence that it would have been possible for such voyagers to reach West Africa. Hopefully the expedition has made a small contribution to the greater interest in, and understanding of, the relationships that took place across the Indian Ocean over one thousand years ago.

The Ship at the museum near Borobudur temple

The Route of expedition west Indonesia to west africa

8th century relief at Borobudur Temple

JAKARTA, 15 September 2003 — Somewhere out on the Indian Ocean, between the Cocos and Seychelles islands, an odd-looking outrigger vessel is retracing the ancient “cinnamon route” from Indonesia to East Africa, first navigated by Indonesian seafarers more than a millennium ago.

The Borobudur Ship — a 25 meter-long wooden ship modeled after wall reliefs found on the 8th century Borobudur temple in Central Java - set sail on Aug. 15 from Ancol pier in Jakarta, catching the Southeast Asian trade winds for a 4,000 mile sail to Madagascar, an island situated about 250 miles off East Africa.

Indonesia, formerly known as the “Spice Islands” for its nutmeg, cloves, cinnamon and pepper that attracted first Portuguese and then Dutch and British merchants to the archipelago more than 500 years ago, has its own history of seafaring and even colonizing distant shores.

Madagascar was first colonized by people from Indonesia, India and Africa about 2,000 years ago.

Evidence that Indonesians, or Austronesians, were among Madagascar’s first settlers include DNA tests and the Malagasy language, which is closest to Ma’anyan, the language of Kalimantan, Indonesia. Madagascar is also rich in crops that are indigenous to Southeast Asia, such as rice and cloves.

But how Indonesians managed to make a 4,000-mile journey to Madagascar long before European ships had rounded the Cape of Good Hope remains shrouded in mystery. However, there are clues.

“The Roman scholar Pliny (the Younger) said that cinnamon came in vast rafts across the perilous seas to the shores of East Africa, and was traded up through Ethiopia and through the marshes to the Mediterranean and Rome,” said Beale.

“At the beginning they were just rafts, but later they may have improved their shipping, and the Borobudur type of ship would have been one of the more sophisticated models toward the end of the period,” he speculated.

After reaching Madagascar, hopefully sometime in October, the Borobudur ship expedition intends to sail round the Cape of Good Hope, just to show it was possible in such a vessel even if it never happened.

“This is a voyage of celebration of the achievements of the Indonesians,” said Beale. “We’re not particularly trying to prove anything new.”

http://www.arabnews.com/node/237368
http://www.swahiliweb.net/ziff_journal_3_files/ziff2006-04.pdf
https://maritimenews.id/borobudur-vessel-expedition-from-relief-to-reality/
http://voices.nationalgeographic.co...r-temple-ship-bringing-a-memory-back-to-life/
https://en.wikipedia.org/wiki/Borobudur_ship

 

[kaka404]

i just find out... someone are making wiro sableng film ...
prepare for some "craziness"

Fox International Productions (FIP) is teaming up with Jakarta-based producer Lifelike Pictures to work on its first Indonesian film, 212 Warrior

The companies aim to produce and circulate the movie locally and internationally.

The co-production will be an adaptation of a best-selling martial arts book series, Wiro Sableng, with shooting scheduled for this year and the release for 2018. Written by Bastian Tito, the 185 books in the series revolve around the fictional character of Wiro Sableng, a renowned martial arts hero in Indonesia.

For the movie, Vino G. Bastian, the son of the late Bastion Tito, will be cast as Wiro Sableng. Other actors include Marsha Timothy and Sherina Munaf.

The producer of the film is Sheila Timothy, with the executive producer and director being Michael Werner and Angga D Sasongko respectively. Yayan Ruhiyan, choreographer of The Raid, is also said to be contributing. Screenplay writers include Sheila Timothy herself, Tumpal Tampubolon and Seno Gumira Ajidarma.

“Combining our understanding of the Indonesian market and audience preferences with FIP’s expertise, ‘212 Warrior’ will satisfy the demand of Indonesian audiences for a good quality film. [FIP president] Tomas Jegeus, Michael Werner and I agreed to make the ‘212 Warrior’ as a great commercial movie. We look forward to expanding collaboration to the series,” Timothy said, as quoted in Variety.

FIP aims has already made inroads in Asia prior to Wiro Sableng, contributing to the making of the Korean films “The Yellow Sea” and “The Wailing”. On the other hand, Lifelike Pictures partook in the famous productions of Joko Anwar’s Pintu Terlarang (The Forbidden Door) and Modus Anomali, as well as Adriyanto Dewo’s Tabula Rasa. (nik/asw)
original article @ http://www.thejakartapost.com/life/...ctional-hero-wiro-sableng-goes-hollywood.html

 

[Bennedict]

Oil Output Exceeds Target

TEMPO.CO, Jakarta - Special Unit for Upstream Oil and Natural Gas Business Activities (SKK Migas) noted that average oil output from January 1 to February 4 stood at 825,000 barrel per day.

The figure exceeded oil lifting target set in the 2017 state budget (APBN) of 815,000 barrel per day. SKK Migas, however, declined to reveal the overall lifting figure at the start of the year. “We are confident of exceeding oil and gas production target for 2017,” SKK Migas spokesman Taslim Z. Yunus said via a text message yesterday.

Gas output at the start of the year reached 7.8 million standard cubic feet per day or 1,398,000 barrels of oil equivalent per day. The figure exceeded lifting target set in the 2017 state budget of 1,275,000 barrels of oil equivalent per day. SKK Migas reported that as of late January there had been 223 development activities of development wells. Moreover, workover in 15 wells had been carried out, or around 5 percent of this year target of 907 wells. Meanwhile well service activities had been carried out in 1,257 wells of 57,512 planned for 2017.

According to Taslim, development drilling and well service activities need to be carried out according to plan. Otherwise, oil production decline could reach 16.2 percent. “SKK Migas and KKS [Cooperation Contract Contractors] must work together to maximize the activities and minimize unplanned shutdown,” Taslim said.

ROBBY IRFANY

 

[Nike]

Govt targets US$20 billion revenue from tourism sector
Jumat, 10 Februari 2017 10:33 WIB - 0 Views

Ambon (ANTARA News) - The government has targeted the revenue from the tourism sector to reach US$20 billion by 2019, the Coordinating Minister for Maritime Affairs Luhut Binsar Panjaitan said here on Thursday.

"For the development of Indonesias tourism sector in the future, we have targeted the number of tourists visiting the country to reach 20 million, of which 10 million tourists would come from China," Luhut stated.

Chinese tourists on an average spent $2,385 on each trip, higher than Americans, he said.

The minister noted that Indonesia has a huge potential in tourism sector, including Maluku province with its remarkable underwater views, coral reefs and ornamental fish, as well as cultural and historical sites.

However, such potential would require adequate development in infrastructure and human resources.

Luhut remarked that the central and regional administrations should have an integrated development program.

"We have developed the Patimban port in West Java worth $3 billion, and it would be functional by the third quarter of this year in cooperation with Japan. It is expected to have significant economic impact on Indonesia," he continued.

The government has prepared Rp387 trillion of fund for infrastructure development in five years, higher than the previous budget of Rp152 trillion.

"I have received a report from Waskita Karya that by 2019, it will finish more than 1.4 thousand kilometers of toll road," he asserted.(*)
Editor: Heru

COPYRIGHT © ANTARA 2017

 

[MarveL]

Indonesia to beat Germany, Japan, UK in 2050 as the world 4th rank *Price-Waterhouse-Cooper

 

[Nike]

Indonesia plans to export rice
Kamis, 9 Februari 2017 23:01 WIB - 0 Views

Medan, N Sumatra (ANTARA News) - Indonesia plans to export rice, after national production reached 79.17 million tons in 2016, which is above the target set at 72 million tons.

"We already have a rice surplus and so we plan to export it. We are still studying it, and destination countries are already available for export. We will inform about it later," agriculture minister Andi Amran Sulaiman said here on Thursday.

He said Indonesia has already exported organic rice to five countries, including Belgium.

"So, there will be exports of common rice. We have to just wait," he added

He noted that Indonesia actually gained Rp10 trillion in 2016 by not importing rice during the period.

He stated that with national production increasing to 79.17 million tons and selling price of unhulled rice at around Rp4 thousand per kilogram, farmers income could rise to Rp51.36 trillion.(*)
Editor: Heru

COPYRIGHT © ANTARA 2017

Papua is the key actually, the vast land along with rich soil (especially near Baliem valley) will be a good choice to established many food/corps estates

 

[kaka404]

am not entirely sure where to put this. its more about foreign politics then economy...
what interest me to post it here is the series of events that was told are gonna be held nearly every months... i've been looking for news on that... any idea??

Indonesian foreign minister Retno Marsudi to visit Singapore as both countries mark ties

Indonesian Foreign Minister Retno Marsudi will visit Singapore next Thursday and Friday to meet her counterpart, Dr Vivian Balakrishnan, kicking off a series of events to mark 50 years of diplomatic relations between the two countries.

Events will be held nearly every month in each country to "forge closer ties, from educational activities to recreational runs", said Indonesian Foreign Ministry spokesman Arrmanatha Nasir.

He added that Ms Retno will pay a courtesy call on Prime Minister Lee Hsien Loong, as well as follow up with Dr Balakrishnan on bilateral agreements covering maritime and economic cooperation, which were raised when Indonesian President Joko Widodo met PM Lee during the Leaders' Retreat in Semarang, Central Java, last November.

But top of the agenda for the visit would be discussions on a sea border treaty that Indonesia signed with Singapore in 2014 and which was ratified by the Indonesian Parliament last December, as well as cooperation in counter-terrorism, according to Mr Arrmanatha.

The pact covers a 9.45km border in the eastern part of the Strait of Singapore between Changi and Batam. It indicates areas belonging to the two sides - critical for upholding sovereignty and enforcing the law.

Mr Arrmanatha said: "We still have some outstanding border delimitation issues which we will try to intensify the negotiations on."

Discussions will also centre on intelligence- and information-sharing, as well as how the two countries can better deal with the potential rise of terrorism in the region.

The Singapore Armed Forces and the Indonesian military have been collaborating through exercises, professional exchanges and the attendance of courses.

Ms Retno will also be delivering a public lecture at the S. Rajaratnam School of International Studies on how Mr Joko's administration deals with conflicts with other nations.

....
read more @ http://www.straitstimes.com/asia/se...ster-to-visit-spore-as-both-nations-mark-ties

the continuation of that story...

Singapore and Indonesia agree on third maritime border treaty
SINGAPORE: After 10 rounds of discussions over three years, Singapore and Indonesia have agreed on a third maritime border treaty.

The two countries’ foreign ministers on Friday (Feb 10) exchanged the Instruments of Ratification for the treaty which will soon be registered with the United Nations.

"This is also one of the fastest negotiations and ratification process that Indonesia has with other countries," said Indonesia’s Foreign Minister Retno Marsudi during her visit to Singapore.

The treaty delimits a 9.5-kilometre stretch of sea boundary in the eastern part of the Singapore Straits between Changi in Singapore and Indonesia's Batam Island. With the third treaty exchanged, the neighbours have now defined approximately 90 per cent of their sea boundary which stretches for a continuous 67.3 kilometres.

"This underscores the excellent relationship between the Republic of Indonesia and the Republic of Singapore,” said Singapore's Minister for Foreign Affairs Vivian Balakrishnan. “It shows that we have a functional good relationship and more importantly, it shows there's strategic trust. Without that, everything becomes more complicated."

SINGAPORE-INDONESIA GOLDEN JUBILEE

The conclusion of the third border treaty also kickstarted the Golden Jubilee celebrations of diplomatic ties between Singapore and Indonesia. Both foreign ministers said they welcomed the year-long series of activities and events that will be held in both countries.
read more @ http://www.channelnewsasia.com/news...-on-third-maritime-border-treaty/3509196.html

 

[Svantana]

Old Video... Indonesian made train exported to Bangladesh

 

[Nike]

• 

Buckle Up Jakartans, More Gridlock Coming Your Way Till 2025
Jakarta. Jakarta Smart City Head Setiaji on Thursday (09/02) implored Jakartans to bear severe congestion in the capital's main streets — mainly caused by construction work on new public transport system, including the underground Mass Rapid Transit metro network — for a while longer yet.

"We now have the MRT construction, as well as new overpasses and underpasses, on roads that are normally busy in any case. [Jakartans] are in for more suffering [on the road] until 2018," Setiaji said.

According to Setiaji, the torture might even continue until 2025, the year his department expects Jakarta's new intelligent transportation system (ITS) will be completed.

Setiaji said technology will play a huge role in overcoming the megalopolitan's traffic woes, especially "big data."

"What residents want is up-to-date information, and certainty. They want to be able to plan ahead and optimize the use of their time," Setiaji added.

Jakarta Smart City — part of the Jakarta administration with an office at City Hall — has partnered with Waze and Google Maps to keep Jakartans informed about the latest traffic detours caused by construction works and special events in the city, such as the Jakarta Marathon.

Big data and older technology such as CCTV monitoring will also help the city's authorities manage traffic better and more effectively. There may soon come a time when the ubiquitous traffic wardens are no longer seen in each intersection.

The department has also launched a new app called Trafi that can be used to check real-time movements, timetables and route maps of TransJakarta buses, commuter line trains and intercity buses.

The vice president of communications firm Alcatel-Lucent Enterprise Asia Pacific, Ernest Lee, said the pain Jakarta residents have to go through now will eventually give way to better traffic and a more humane Jakarta.

"With a tech-based integrated transportation system, living standards in Jakarta will improve massively," Lee said.

"Imagine if you can cut the time you now spend stuck in traffic by just an hour. Life would be so much less frustrating, and your whole lifestyle would change for the better," he added.

"Jakarta has made the right choice going for the smart city concept. It will definitely improve life quality for the residents. Other cities should follow its example," Lee said.

The Singaporean executive said his country has already benefited massively from ITS, which created wholesale lifestyle changes by discouraging the use of cars and encouraging Singaporeans to take the MRT and public buses instead.

Jakarta at the moment has no plan to limit the number of cars allowed in the city, though Setiaji said he is looking into limiting the use of cars.

"We want to introduce a 'park and ride' system, but we need to improve the existing public transport system first," he said.
http://jakartaglobe.id/news/buckle-jakartans-gridlock-coming-way-till-2025/

 

[Nike]

BTN to launch micro housing loan by end of Feb
Senin, 13 Februari 2017 22:12 WIB - 0 Views

Jakarta (ANTARA News) - State-run mortgage lender Bank Tabungan Negara (BTN) is expected to launch micro housing loan for lower income group by the end of Feb, its president director said.

"We will launch it around end of this Feb. It is a special loan for lower income group who do not have regular income," Maryono said at the Vice Presidential office here on Monday.

According to Maryono, the lower income group includes those with regular income and those without. The first group enjoys the governments housing finance liquidity (FLPP) and interest rate subsidy.

The group without regular earnings would be supported with micro housing loan to afford a house.

The bank would impose interest rate as low as 7-9 percent, he said.

Currently, some 6.3 million workers are categorized into lower income group, which include those who do not have regular earnings.

Public Works and Housing Minister Basoeki Hadimuljono said that housing provision for lower income group is targeted to reach 700 thousand houses in 2017, up from 516 thousand in 2016.

Basoeki added that the houses would be built at state properties, and access to the locations would also be improved to cut the transportation costs.

The minister added that micro housing loan would be given to workers with monthly earnings from Rp1.2 million to Rp2.6 million.(*)
Editor: Heru

COPYRIGHT © ANTARA 2017

 

[GraveDigger388]

BTN to launch micro housing loan by end of Feb
Senin, 13 Februari 2017 22:12 WIB - 0 Views

Jakarta (ANTARA News) - State-run mortgage lender Bank Tabungan Negara (BTN) is expected to launch micro housing loan for lower income group by the end of Feb, its president director said.

"We will launch it around end of this Feb. It is a special loan for lower income group who do not have regular income," Maryono said at the Vice Presidential office here on Monday.

According to Maryono, the lower income group includes those with regular income and those without. The first group enjoys the governments housing finance liquidity (FLPP) and interest rate subsidy.

The group without regular earnings would be supported with micro housing loan to afford a house.

The bank would impose interest rate as low as 7-9 percent, he said.

Currently, some 6.3 million workers are categorized into lower income group, which include those who do not have regular earnings.

Public Works and Housing Minister Basoeki Hadimuljono said that housing provision for lower income group is targeted to reach 700 thousand houses in 2017, up from 516 thousand in 2016.

Basoeki added that the houses would be built at state properties, and access to the locations would also be improved to cut the transportation costs.

The minister added that micro housing loan would be given to workers with monthly earnings from Rp1.2 million to Rp2.6 million.(*)
Editor: Heru

COPYRIGHT © ANTARA 2017

Best news I've ever heard!!