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Indonesian cement sales jumped 37.4 percent (year-on-year) to 4.7 million tons in August 2014 due to higher cement demand from Indonesian property and infrastructure developers. Widodo Santoso, Chairman of the Indonesian Cement Association (ASI), said that the development of smelters, power plants, apartments, hotels, and social housing has been key to improved cement sales last month. However, the 37.4 percentage point growth was also caused by fewer working days in August 2013 as the Lebaran holiday fell in that month.
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In Indonesia a foreign investment limited liability company (PT PMA) and/or local investment limited liability company (PT) must obtain a Minister’s Decree regarding the legalization of the legal entity status of the company, based on article 7 (4) of law number 40 of 2007 (Company Law). In order to obtain such Minister’s Decree, the founders must submit an application to the Minister of Law and Human Rights (Minister). The exact requirements for submitting such legalization application are stated in article 9 (1) Company Law and Minister regulation number 4 of 2014 (Minister Regulation).
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The prequalification tender for the construction of the Soekarno-Hatta International Airport Railway project has been postponed until late October 2014 (from August) as agreements with several stakeholders still need to be finalized. For example, the government is yet to underwrite part of the required investment. Indonesia’s Ministry of Transportation proposes to underwrite IDR 13.5 trillion (USD $2.3 billion) - approximately 49 percent of total required investment for this railway project.
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The limited liability company (local PT or foreign PT PMA) in Indonesia is regulated under law number 40 of 2007 (Company Law). The Company Law sets the minimum establishment requirements for a limited liability company, but does not regulate the different company types for limited liability companies in Indonesia. These are regulated in law number 20 of 2008 (SME Law) which essentially differentiates micro companies, small companies, medium companies and large companies. This column will discuss the differences in company types in Indonesia.
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The views expressed in these business columns are the views of the authors or the interviewed persons only and therefore do not necessarily reflect the views of Indonesia Investments. The authors are free to ventilate their opinions about the Indonesian business climate. Facts presented in these columns are the result of the author's own research or indicated sources, read disclaimer.
