• Bumi Resources Debt Settlement: CIC Takes 19% Stake in Kaltim Prima Coal

    China Investment Corporation (CIC), a sovereign wealth fund, now officially holds a 19 percent stake (worth USD $950 million) in Kaltim Prima Coal, subsidiary of Indonesia's largest coal miner (yet debt-ridden) Bumi Resources. This share transfer is part of Bumi Resources’ debt settlement program with CIC. After the share transfer, Bumi Resources still owes CIC about USD $1.03 billion. Another chunk of this debt will be settled through transferring 42 percent of the shares of another subsidiary, Bumi Resources Minerals, (worth USD $257 million) to CIC.

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  • Foreign Tourist Arrivals to Indonesia Expected to Achieve Target in 2014

    After seeing foreign tourist arrivals to Indonesia reach 752,363 in May 2014, Indonesian Minister for Tourism and Creative Economy Mari Elka Pangestu stated that it is highly likely for Indonesia to achieve its target of 9.5 million foreign tourist arrivals this year. In the first five months of 2014, 3.70 million foreign tourists visited the world’s largest archipelago, a 9.96 percentage point growth compared to the same period in 2013 (which was 3.36 million). As usual, most foreign visitors entered Indonesia in Bali.

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  • Danareksa Institute: Indonesian Consumer Confidence Declined in June

    Ahead of the release of the Indonesian government’s official June consumer confidence report (expected to be released today), a survey conducted by the Danareksa Research Institute shows that Indonesian consumer confidence may have weakened 0.3 percent to 94.8 points in June 2014 amid concern about job availability and an expected slowdown in economic growth of Indonesia for the six months ahead. A reading below 100 points indicates pessimism, while a reading above 100 points indicates optimism.

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  • Indonesian Stocks: Investor33 Index Outperforms Jakarta Composite Index

    The recently launched Investor33 Index has outperformed both the benchmark stock index of Indonesia (Jakarta Composite Index or IHSG), which contains all stocks that are listed on the Indonesia Stock Exchange, and the LQ45 Index, a stock index which contains 45 Indonesian listed companies that fulfil certain criteria. In the first six months of 2014, the Investor33 Index climbed 16.36 percent, whereas the IHSG increased 14.14 percent and the LQ45 Index 15.68 percent.

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