Indonesia Economy Forum

[Nike]

Pertamina to build six oil refineries
10 hours ago | 793 Views

Jakarta (ANTARA News) - Pertamina will build six oil refineries, which include four existing refineries and two new refineries, as part of its efforts to support economic growth and to save foreign exchange.

"There are two groups of refineries that we will build. Group I is the development of Refinery Unit V in Balikpapan (East Kalimantan), Unit VI in Balongan (West Java), Unit IV in Cilacap (Central Java), and Unit II in Dumai (Riau)," Director of Processing and Petrochemical Megaproject, PT Pertamina, Rachmad Hardadi, stated here on Thursday.

In addition, the projects also include unit II in Tuban (East Java) and Bontang (East Kalimantan).

Rachmad explained that the purpose behind the development and construction of oil refineries is for Pertamina to realize self-sufficiency in fuel oil by 2023 as envisioned by the government.

Rachmad noted that through these six projects, the production capacity of oil refineries operated by Pertamina will be 2.2 million barrels per day. The oil refinery development project is expected to cost around Rp500 trillion.

"The refineries will be constructed by Pertamina and other oil and gas international companies," he remarked.

According to Rachmad, the biggest challenge to realize the projects is to complete it in seven years from 2017 or two years ahead of the government target.

The installed capacity of the six oil refineries now is 1.05 million barrels per day; however, after the implementation, the refineries are expected to produce around 800-950 thousand barrels per day.

The national fuel needs are about 72 million kiloliters, while Pertamina can provide about 39 million kiloliters per year.(*)

 

[patu]

Damn this is a big victory for Indonesian government

Yeah
Well done
Hope this is be a starting point for our brighter future as a big nation!

 

[barjo]

Yeah
Well done
Hope this is be a starting point for our brighter future as a big nation!

Clever prefer to lose some then to lose all, sneaky bussinesman

 

[patu]

Clever prefer to lose some then to lose all, sneaky bussinesman

They had to chose this for their own goodness. But on other hand our goverment has to choose this option for the sake of own nation goodness,
Yeah there are many better options that we can take...
At least we have take a good and sticky stand for our future.

 

[pr1v4t33r]

Damn this is a big victory for Indonesian government

Yep, this is enormous, both economically and politically for Indonesia, and especially for the current Gov. I think even the average papuan will be satisfied with the result. By allocating 5% share to Papua, we hope that at least Papuan won't feel like they are abandon and forgoten, or even worse... "occupied and raped". Thus we will create a better social atmosphere in Papua to help it grows and prosper. Hopefully all those OPM **** will surrender and pledge loyalty to Indonesia by then.

And of course... If Gov can sort this issue out before 2019 presidential election, no one will stand a chance to challange the incumbent.

 

[Robin Wong]

81 more vessels sunk over illegal fishing
Jakarta | Sat, April 1, 2017 | 06:26 pm

The Maritime Affairs and Fisheries Ministry on Saturday sank 81 more vessels for fishing illegally in Indonesian waters. The vessels were arrested by Satgas 115, the ministry’s illegal fishing prevention task force, and other authorities in fishing territories across Indonesia.

“We were helped by the Indonesian Military and National Police in sinking the vessels in 12 locations. They are Aceh; Ambon and Ternate in Maluku; Bali; Belawan in Medan, North Sumatra; Bitung, North Sulawesi; Merauke, Papua; Natuna and Tarempa in Riau Islands; Pontianak, West Kalimantan; Sorong, West Papua; and Tarakan in North Kalimantan,” Maritime Affairs and Fisheries Minister Susi Pudjiastuti said as quoted by kompas.com.

Susi directly led the procession to sink the 81 vessels from Morela Beach in Ambon. The minister was in contact with 11 other areas where dozens of vessels were sunk via a video conference call and live streaming. The vessels were sunk starting at 10 a.m. Jakarta time using explosives with a measured explosion capacity.

“We have made calculations so that this will not affect the environment, sea conservation areas and the safety of our sea navigation,” said Susi.

Of the total, 46 vessels were Vietnamese flagged, 18 were from the Philippines, 11 from Malaysia and six were Indonesian vessels.

Meanwhile, SINO 36, an Indonesian-flagged vessel with a capacity of 268 gross tonnage, was confiscated by the state through a court ruling. The government would use the vessels as a monument to depict Indonesia’s efforts in combating illegal, unreported and unregulated fishing. Indonesia has sunk 317 ships since October 2014. (dis/ebf)

http://www.thejakartapost.com/news/2017/04/01/81-more-vessels-sunk-over-illegal-fishing.html

 

[Nike]

is anyone make notice, the current investments trends is toward half processed and fully processed raw materiels industries needed for assembly and manufacturing processes. If you want to have a strong base for your manufacturing and other related heavy industry this the least you should have do and built.

Lotte Chemical Indonesia to run petrochemical plant in Banten

• News Desk
  The Jakarta Post
  

Jakarta | Sat, April 1, 2017 | 08:05 am

Map of Cilegon, Banten (Courtesy of/weather-forecast.com)
South Korean chemical manufacturer Lotte Chemical Titan clarified on Thursday that the new investment of a petrochemical plant worth US$4 billion in Cilegon, Banten, would be carried out by its sister company Lotte Chemical Indonesia.

Lotte Chemical Titan president director Yoon Sungku made the clarification, following media reports that wrongly said that the new project would be run by his company.

“Lotte Chemical Titan engages in the business of trading polyethylene and polypropylene, while our subsidiary Lotte Chemical Titan Nusantara engages in the business of producing and selling polyethylene,” Yoon said.

He stressed that Lotte Chemical Titan and Lotte Chemical Titan Nusantara had nothing to do with activities of the new plant in Cilegon.

However, he added that the new plant would produce ethylene which might fulfill the feedstock requirement of Lotte Chemical Nusantara in producing polyethylene, he said.

“The plant which is being built on 45 hectares of land can produce 1 million tons of ethylene per year,” Yoon said.

He later explained that Lotte Chemical Indonesia was not listed on the Indonesia Stock Exchange (IDX) as the firm’s stocks were mostly owned by its parent company, Malaysia’s Lotte Chemical Titan Group.

According to a statement, Lotte Chemical Indonesia is 99.998 percent owned by Malaysia’s Lotte Chemical Titan and the remaining percentage by Lotte Chemical Singapore, another subsidiary of Malaysia’s Lotte Chemical Titan. (yon/bbn)

http://www.thejakartapost.com/news/...sia-to-run-petrochemical-plant-in-banten.html

 

[pr1v4t33r]

81 more vessels sunk over illegal fishing

We have a special thread for this kind of news, feel free to bookmark:
https://defence.pk/pdf/threads/indonesia-maritime-defence-and-security-issue.347154/

 

[Nike]

The 2017 Indonesian startup
popular sector forecast
Within the last five years, startups have become a part of our daily lifestyle, alongside the increase in internet access penetration among Indonesians.


Current data from the Indonesian Internet Service Providers Association (APJII) indicates that the number of Indonesian internet users in 2016 reached 132.7 million from a total population of 256.2 million. The number of smartphone users in the country in the same period reached 63.1 million.

As Indonesians are becoming accustomed to shop and even order transportation online, the new habit propelled one of the most popular on-demand startups, Go-Jek, to reach the seemingly untouched startup realm: the unicorn stage. In layman’s terms, this means the company has a valuation of more than US$1 billion.

In the Indonesian Tech Startup Report 2016, DailySocial conducted a survey with a number of investors about which sectors are going to be hot, and what their focus in 2017 will be. Based on the compilation, the four sexiest sectors that are predicted to steal the spotlight in 2017 are financial technology (fintech), e-commerce, Software-as-a-Service (SaaS) and on-demand or service marketplace.


Fintech

Fintech is a further development of the financial services industry, which majorly depends on the internet and digital innovations.

C88 Group CEO, John Patrick Ellis, proprietor of CekAja services, a financial e-commerce site in Indonesia, said last year that Indonesia experienced major growth in the fintech field. A large number of businesses in fintech developed significantly; some have even dominated the field and become big players that have contributed to the development of the financial services industry.

According to Ellis, CekAja is confident in the Indonesian fintech scene due to the reality of the country’s low fintech market penetration, reflected in the fact that fintech has yet to reach all regions in Indonesia. He refers to this condition as a ‘double growth factor’, where financial services grow alongside technology.

“Both industries are complementary, and this is why the Indonesian fintech sector will have three to five unicorn companies by the year 2020.”
~John Patrick Ellis,CEO C88 Group

Founder and CEO of Modalku, Reynold Wijaya, also expresses positivity about fintech’s potential, mainly peer-to-peer lending (P2P lending), which is Modalku’s main service. He said the release of Financial Services Authority (OJK) regulation no. 77/POJK.01/2016 regarding Information Technology-Based Money Lending Services at the end of 2016 had been a major boost for P2P lending businesses.

The issuing of the regulation, he said, built stronger trust among Indonesians toward P2P lending as the industry is recognized by OJK and under its supervision. Modalku claimed that it has distributed Rp 60 billion ($4.496 million) loans with zero percent bad credit rate.

“We are not really concerned about business volume; we care about scaling the business properly. Today, we want to focus on smartphones so the process can be faster. We want to convert conventional users to smartphones,” Reynold said.











President director of venture capitalist Mandiri Capital Indonesia (MCI) Eddi Danusaputro voiced a similar sentiment to Reynold’s statement. Eddi notes the importance of the regulations to ensure customer protection that eventually leads to help in maturing existing fintech businesses and stimulating the rise of new players in the industry. From a value standpoint, he forecasts that the investment in fintech industry will grow to at least 50 percent, even more than 100 percent.

Regarding fintech’s dependence on digital technology developments, both CekAja and Modalku stress the importance of digital signature use. According to Reynold, digital signatures are the main component of the ‘know your customer’ (KYC) process that will enable fintech players to reach out to more customers throughout Indonesia.

Although the government has issued digital signature use, OJK as the certificate authority party (CA) has yet to appoint any institution to execute the mandate. Reynold thinks the roll-out of the program has to be enforced.

“The fintech infrastructure has to be strong so it can reach every part of Indonesia. The only way is to do everything digitally, and this is why awareness about digital signatures must be increased. This is a part of KYC.”
~Reynold Wijaya,CEO Modalku

Ellis weighs in on the digital signature roll-out, “Digital signature implementation by the government in 2017 will bring fintech forward based on financial inclusions that are aimed to better the people’s lives and Indonesian businesses. We hope other regulations that are issued with it will also support and provide ease for fintech services companies.”

The emergence of Indonesian Fintech Association (AFI), Ellis said, can be a learning place for other local fintech players. The association plays a part in facilitating communication between these players and OJK and Bank Indonesia. The openness among members of the association enables them to engage in dialogues about existing regulations.

“The challenges found in the fintech sector is actually no different than those found in other sectors, and this is why we founded the Indonesian Fintech Association, so there will be an institution within the fintech industry that can represent [these fintech startups] and describe the challenges [found in the industry]. These challenges are better faced with solutions that are made collectively, rather than facing them individually,” he added.


....snipped

http://www.thejakartapost.com/longf...donesian-startup-popular-sector-forecast.html

 

[Nike]

C. Java textile producers eye expansion in Middle East
Sabtu, 1 April 2017 04:07 WIB - 0 Views

Photo document of workers completed the process of cutting fabric in one of the textile industry in Tegal, Central Java. (ANTARA/Oky Lukmansyah)

Semarang (ANTARA News) - Textile producers in Central Java are keen to expand their export market to the Middle East, the Indonesian Textile Association (API) in Central Java stated.

"We already have a good demand for our exports from the Middle East countries. However, so far, they have yet to become the main export market for the Central Java textile products," chairman of API Central Java Agung Wahono said here, Friday (March 31).

Currently, the regions main textile export market are the United States, China and Japan, which have higher export value compared to other commodities.

A data of the Central Bureau of Statistics (BPS) showed that Central Javas textile and textile products export in February 2017 had reached US$181.86 million.

Export value of other products such as wood and wood products during the period amounted to US$77.87 million and the value of manufactured products reached US$56.09 million.

Export to Turkey and Egypt contributed the highest value compared to other Middle East countries.

Export to Turkey in February reached US$8.08 million or some 1.96 percent of the total export from Central Java.

Export to Egypt amounted to US$5.16 million during the same period, or some 1.21 percent of the provinces total export.

"We have understood the demand trend in the Middle East countries. We hope that better trade relations with Middle East countries will enhance our export to the region," he said.

(Reported by Aris Wasita Widiastuti/Uu.S022/INE/KR-BSR/A014)
Editor: Priyambodo RH

COPYRIGHT © ANTARA 2017

 

[pr1v4t33r]

 

[MarveL]

Live streaming Zakir Naik - Yogyakarta, Indonesia Roadshow, 2nd City.

 

[Nike]

Live streaming Zakir Naik - Yogyakarta, Indonesia Roadshow, 2nd City.

he should been banned to give levture and preacher in Indonesia

 

[MarveL]

he should been banned to give levture and preacher in Indonesia

this one kind of universities lecture's roadshow, dont be worry, im sure the audience are mature enough

 

[nufix]

this one kind of universities lecture's roadshow, dont be worry, im sure the audience are mature enough

hahah I dont think so. If you have really been to the campuses, there are so many seeds of extremism in there.