The Today's Headlines section of Indonesia Investments is a regularly updated section which contains the latest information with regard to topics that are currently causing headlines in Indonesia's media. Most of our headlines cover political, economic and social matters. As a consequence of their recent nature, these topics may not have crystallized fully yet and can, therefore, lack a profound analysis. For publications with a more in-depth understanding of subjects, we refer you to our News, Financial or Business columns.
Indofood Sukses Makmur, one of Indonesia's leading food manufacturing companies, plans to build a new factory for the production of flour to increase capacity and sales of its Bogasari unit. Bogasari is the company's integrated flour milling unit. Franciscus Welirang, Director of Indofood Sukses Makmur, said the unit's flour mills are currently producing close to their maximum capacity, hence production capacity expansion is needed.
Despite a strong earthquake that was felt across Jakarta (and led to quite some panic), Indonesia's benchmark Jakarta Composite Index surged 2.07 percent to 6,635.33 points on Tuesday (23/01), a new all-time high, led by consumer goods and manufacturing stocks.
The capital city of Jakarta was rocked by a strong earthquake on Tuesday (23/01) around 13:45 pm local time with its epicenter in the Indian Ocean, about 125 kilometers to the southwest of Jakarta. The quake did not go unnoticed in Jakarta. Many office towers, residential towers and hospitals were evacuated due to concerns about aftershocks, while people fled into the streets in panic.
Net profit of Indonesia's fully state-owned oil & gas company Pertamina is estimated to have declined to around IDR 27 trillion (approx. USD $2.0 billion) in full-year 2017, down about 35 percent (y/y) from USD $3.1 billion in the preceding year. The decline is attributed to rising crude oil prices and the government's refusal to adjust subsidized fuel prices.
