• Indomobil Multi Jasa is the 28th IPO on Indonesia Stock Exchange in 2013

    Yesterday (10/12), the 28th initial public listing (IPO) in 2013 on Indonesia's Stock Exchange was conducted. Financing company Indomobil Multi Jasa - with company code IMJS - offered 450 million shares, or 10.4 percent of its stake, to the public with a price tag of IDR 500 per share. The company is a subsidiary of Indomobil Sukses Internasional (IMAS), Indonesia's second-largest automotive distributor after Astra International. Through the IPO, the company aims to obtain IDR 225 billion for business expansion.

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  • Signing of Nippon Asahan's Inalum Share Sale to Indonesian Government

    At the start of the week, Japan sold its 58.88 percent stake in Indonesia Asahan Aluminium (Inalum) to the Indonesian government for a price of USD $556.7 million. At a ceremony held in Jakarta, witnessed by various Indonesian ministers and Japanese government officials, the agreement was signed. Talks about the sale of Japan's stake were difficult and lengthy, almost needing resolution by arbitration, due to disagreement about he value of Japan's stake. This then triggered concerns that Indonesia-Japan relations were in jeopardy.

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  • Indonesia's New Fiscal Policies to Curb Imports and Support Exports

    On Monday (09/12), the government of Indonesia outlined the long-awaited extension of its economic policy package that was released in August 2013. This extension involves new fiscal policies, aimed at reducing imports and supporting exports, that will be implemented at the start of 2014. An improving global economy in combination with the government's August package and yesterday's extension package is expected to reduce Indonesia's wide current account deficit to a sustainable level of below 3 percent of gross domestic product (GDP).

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  • Export Ban on Unprocessed Minerals Temporarily Pressures Trade Balance

    Although the ban on the export of unprocessed minerals, which is set to start on 12 January 2014, is expected to result in a direct revenue loss of USD $4 billion in 2014 due to a decline in mineral exports, Deputy Finance Minister Bambang Brodjonegoro believes that from 2016 onward a trade surplus can be recorded in Indonesia's minerals sector. In 2014, Indonesia's minerals sector may show a USD $10 billion trade deficit. But exports of processed minerals may grow from USD $4.9 billion in 2013 to USD $9 billion in 2015.

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