He has been fascinated by Indonesian cultures and history since the very first time he stepped foot on Indonesian soil in mid-1998, just one month after Indonesia's second president, Suharto, was forced to step down from office at a time when the Asian Crisis ravaged through the country. He decided to do his Bachelor and Masters degrees in Southeast Asian Studies at Leiden University (the Netherlands) with a major focus on Indonesian society, history and linguistics.
After successfully finishing his MA degree he temporarily taught Indonesian languages and cultures at the Volksuniversiteit in Rotterdam (the Netherlands), while increasingly becoming aware of the economic potential of Indonesia in a world where the economic gravity point was rapidly shifting to the East. With having had a profound training in Indonesia's macroeconomic history at university, he started to delve into the contemporary economic conditions of the country and through frequent visits to Indonesia established a network within businesses and government circles.
Since 2013 he has been permanently based in Jakarta and is frequently contacted by international media to share his views on economic, political and social developments in Indonesia. Journalists can reach him through +62(0)8 788 410 6944 (including WhatsApp). He can also act as speaker at events or give presentations to boards/workers in companies.
| Organization |
Indonesia Investments |
| |
Business Consultancy |
| Position |
Managing Director
|
| Expertise |
Investment & Business Strategies | Investment & Business Environment | Macroeconomics & Politics | Cultural Studies |
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Kolom ditulis R.M.A. van der Schaar
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In a plenary session on Tuesday (28/06), Indonesia's House of Representatives (DPR) passed the controversial Tax Amnesty Bill into law as well as the revised 2016 state budget. The Indonesian government will be relieved to see the Tax Amnesty Bill come into effect on 1 July 2016 (ending in May 2017) as it expects the bill to boost tax revenue this year by IDR 165 trillion (approx. USD $12.4 billion). Through tax incentives and the pardoning of tax crimes, the tax amnesty program makes it attractive for tax evaders to declare their offshore assets and repatriate these into Indonesia.
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Indonesia opened the property market to those foreigners who reside (legally) in Indonesia. However, it also set tough requirements regarding foreign ownership of Indonesian property. Moreover, it remains nearly impossible for expats to obtain a local mortgage to finance the purchase of property. Although local credit may actually not be attractive for foreigners as interest rates are high in Indonesia, it is interesting to take a closer look at why Indonesian banks reject to sell mortgages to foreigners and whether foreigners are actually enticed to buy property in Indonesia?
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In the past two weeks, two of the big international credit rating agencies released new reports about Indonesia's fiscal situation. Both agencies affirmed Indonesia's sovereign debt rating: Fitch Ratings kept Indonesia at BBB-/stable (investment grade class) and Standard & Poor's (S&P) maintained Indonesia at BB+/positive (highest junk level, one notch below investment grade). S&P's decision to keep Indonesia within the junk level category was met with disappointment among investors and Indonesian government officials but perhaps not that surprisingly.
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Indonesian assets weakened on Friday (06/11) on expectation that US non-farm payrolls and US employment data would improve, suggesting that a Fed Fund Rate hike may occur in December 2015. Such expectations were correct. After Indonesian and other Asian markets had closed on Friday, the US Labor Department announced that October payrolls rose 271,000 (the largest increase this year), while the US unemployment rate touched a seven-year low at 5 percent. Furthermore, the average hourly earnings over the past 12 months climbed by the most since 2009.
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Sektor properti residensial di Indonesia tetap menarik di 2015 kendati ada beberapa faktor yang menghambat pertumbuhan selama dua tahun terakhir. Dalam kolom ini saya membahas faktor-faktor yang telah melambatkan pertumbuhan di sektor properti Indonesia dan bagaimana pihak berwenang (seperti bank sentral dan Otoritas Jasa Keuangan) merespon tantangan-tantangan ini melalui peraturan baru. Terakhir, saya menyediakan sebuah update mengenai rencana Pemerintah, yang baru saja diumumkan, untuk mengizinkan kepemilikan asing atas apartemen mewah.
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