• IPOs in Indonesia: Bakrie Group's Graha Andrasentra Propertindo

    Graha Andrasentra Propertindo became the eight company to list on the Indonesia Stock Exchange in 2016. The company, controlled by the Bakrie Group, is the operator of recreational park "Jungle Land" in Bogor (West Java). Through the initial public offering (IPO) Graha Andrasentra Propertindo raised over IDR 300 billion (approx. USD $23 million) by offering 2.3 billion shares, or 10.2 percent of its enlarged capital. Underwriter for the IPO was Danatama Makmur.

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  • Number of Foreign Workers in Indonesia on the Decline

    The number of expat workers in Indonesia is declining due to persistently low commodity prices and the government's stricter regulations regarding the hiring of expats. In the first five months of 2016 a total of 72,399 temporary residential permits (including renewals) were issued to expats. It is highly unlikely that the number of expat workers in Indonesia this year will equal the total of 171,944 foreign workers that were active in Indonesia in 2015. Actually the number of expats working in Indonesia has already been on the decline since 2011 (when the commodity slowdown reemerged).

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  • Indonesia's Watsons Operator Duta Intidaya Made Trading Debut

    On Tuesday (28/06) Duta Intidaya became the 7th company to list on the Indonesia Stock Exchange (IDX) in 2016. The company, an Indonesia-based health & beauty products retailer and specifically known for being the operator of the Watsons stores in Indonesia, made a solid trading debut. Its shares rose five percent to finish at IDR 189 per piece. Through the initial public offering (IPO), Duta Intidaya seeks new funds for business expansion and debt settlement. The company is set to open new branches and expand its e-commerce activities.

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  • Currency News Indonesia: Rupiah Appreciating Sharply

    The Indonesian rupiah has been rallying impressively over the past couple of days in the "post-Brexit" era. Amid severe uncertainty ahead of the Brexit referendum result, Indonesia's currency depreciated markedly on Thursday 23 June 2016. However, in the following days the rupiah started to strengthen, touching a two-month high against the US dollar (even though the US dollar has been strong as well due to the Brexit issue). Based on the Bloomberg Dollar Index the rupiah is now trading at IDR 13,175 per US dollar. What explains this recent rupiah strength?

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