Indonesia's Transportation Ministry is optimistic that the construction of the Patimban Seaport in Subang (West Java) can commence in June 2018 after the Idul Fitri celebrations have completed. Meanwhile, the port operator tender is scheduled to be opened in July 2018. The USD $3.1 billion Patimban seaport is envisaged to become a key international seaport in Indonesia with a 7.5 million twenty-foot equivalent units (TEU) capacity.

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Indonesia-based shipbuilding company Steadfast Marine plans to sell 350 million new shares in an initial public offering (IPO) on the Indonesia Stock Exchange. This amount would equal 35.28 percent of the company's total paid-up capital. The new shares are planned to be offered in the range of IDR 110 - 120 a piece, hence the company would raise a maximum of IDR 42 billion (approx. USD $3 million) through the corporate move. Jasa Utama Capital is appointed as underwriter.

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While most Asian stocks (as well as US and European stock futures) are in green territory on Monday (21/05) on the back of easing concerns about a potential global trade war (led by the US and China), Indonesian assets remain under pressure. Over the weekend, US Treasury Secretary Steven Mnuchin said the US-China trade war is "on hold" following both sides' agreement to suspend any tariff threats for now. This has a positive impact on global markets.

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On 21 May 2018 Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website over the past seven days. Most of the topics involve economy and market-related topics such as Bank Indonesia's interest rate hike, performance of rupiah & stocks, the 2019 State Budget, trade balance, current account balance, IPOs, terrorism, and more.

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