Daily Archives: December 8, 2018

Minister to inaugurate Galang Batang Economic Zone

Jakarta (ANTARA) – Coordinating Minister for Economic Affairs Darmin Nasution will inaugurate the Galang Batang Special Economic Zone (KEK) located in Gunung Kijang District, Bintan District, Riau Islands Province, on Saturday.

“Tomorrow, I will inaugurate the KEK in Bintan, a large investment, smelter for bauxite, which will produce alumina. It is a large investment from China,” Nasution said to media persons at the Office of the Coordinating Minister for Economy, Jakarta, Friday.

Quoted from kek.go.id page, Galang Batang KEK is located on Bintan Island, Riau Islands, which is a choke point of the Malacca Strait, adjacent to the Batam Free Trade Zone and the Strait of Philip.

The Galang Batang KEK has direct access to the Malacca Strait and the South China Sea.

The Galang Batang KEK is proposed by the business entity, PT Bintan Alumina Indonesia, and has been determined through Government Regulation Number 42 of 2017, which was promulgated on 12 October 2017.

Galang Batang SEZ will be developed as a center for mining mineral processing industries, namely bauxite and its derivative products both from refineries and from smelters.

It is estimated that Galang Batang KEK will be able to absorb a workforce of 23,200 people, spread to the refinery processing industry of 350 people, smelter processing industry of 260 people and dock and port services that have the potential to create “multiplier effects” in the region.

The investment value of the Galang Batang KEK development is Rp.36.25 trillion for six years.

In addition to the Galang Batang KEK, Nasution said that the Arun Lhokseumawe KEK will also be inaugurated soon. A number of regions were also proposed to become KEKs, such as Singosari District in Malang District and one in Batam.

“Then Lhokseumawe is also ready to be inaugurated. Then, the East Java proposed Singosari. Batam also proposed one,” Nasution said.

Source: ANTARA News

North Sumatran resident among victims of Papuan rebels brutal shootings

Medan, N Sumatra, (ANTARA News) – The coffin of a North Sumatra resident, who died in the brutal killings by armed Papuan rebels, was flown from Jakarta and arrived at the Kualanamu International Airport here on Saturday.

The coffin of Jepri Simaremare, who worked for PT Istaka Karya in Nduga District, Papua Province, was flown aboard Citilink flight QG 10 and arrived at the Kualanamu International Airports cargo terminal at 7:55 a.m. local time.

From the airport, the coffin was then transported at around 8:05 a.m. local time aboard an ambulance to the mourning house in Belutu Village, Sei Bamban Sub-district, Serdang Bedagai District, for burial.

The representatives of Timika resort police precinct, PT Istaka Karya, and the State-Enterprises Ministry were present on the flight for transporting the coffin.

In connection with the casualties arising from the brutal killings in Nduga District, Papua Province, on Dec 2, the Indonesian security forces have identified the Trans Papua road construction workers killed by the armed Papuan rebels.

The police and military units, deployed to the site of the murders, continued to search for the whereabouts of the workers to identify those found dead or alive, Lt Col Dax Sianturi, the spokesman of XVII/Cendrawasih regional military command, noted.

Sianturi noted that as of Friday, at 5 a.m. local time, the Indonesian military and police personnel have found 16 corpses of workers in the sub-districts of Yigi and Mbua, Nduga District.

Nine of the bodies had been identified and moved to Timika, Mimika District, on Thursday.

According to Sianturi, the security personnel continued to update information on the victims, including the workers of PT Istaka Karya. On the day the shootings occurred, 28 workers of PT Istaka Karya were on the ground.

Seven of them survived the brutal killings. Nine others had been confirmed dead, while seven workers, who also died, could not as yet be identified, while five other workers were still missing, he noted.

The armed rebels also killed a soldier named Handoko and injured two other security personnel Sugeng and Wahyu, he added.

Source: ANTARA News

North Sumatran resident among victims of Papuan rebels brutal shootings

Medan, N Sumatra, (ANTARA News) – The coffin of a North Sumatra resident, who died in the brutal killings by armed Papuan rebels, was flown from Jakarta and arrived at the Kualanamu International Airport here on Saturday.

The coffin of Jepri Simaremare, who worked for PT Istaka Karya in Nduga District, Papua Province, was flown aboard Citilink flight QG 10 and arrived at the Kualanamu International Airports cargo terminal at 7:55 a.m. local time.

From the airport, the coffin was then transported at around 8:05 a.m. local time aboard an ambulance to the mourning house in Belutu Village, Sei Bamban Sub-district, Serdang Bedagai District, for burial.

The representatives of Timika resort police precinct, PT Istaka Karya, and the State-Enterprises Ministry were present on the flight for transporting the coffin.

In connection with the casualties arising from the brutal killings in Nduga District, Papua Province, on Dec 2, the Indonesian security forces have identified the Trans Papua road construction workers killed by the armed Papuan rebels.

The police and military units, deployed to the site of the murders, continued to search for the whereabouts of the workers to identify those found dead or alive, Lt Col Dax Sianturi, the spokesman of XVII/Cendrawasih regional military command, noted.

Sianturi noted that as of Friday, at 5 a.m. local time, the Indonesian military and police personnel have found 16 corpses of workers in the sub-districts of Yigi and Mbua, Nduga District.

Nine of the bodies had been identified and moved to Timika, Mimika District, on Thursday.

According to Sianturi, the security personnel continued to update information on the victims, including the workers of PT Istaka Karya. On the day the shootings occurred, 28 workers of PT Istaka Karya were on the ground.

Seven of them survived the brutal killings. Nine others had been confirmed dead, while seven workers, who also died, could not as yet be identified, while five other workers were still missing, he noted.

The armed rebels also killed a soldier named Handoko and injured two other security personnel Sugeng and Wahyu, he added.

Source: ANTARA News

Credit expansion more aggressive rising 13.35 percent: OJK

Jakarta, (ANTARA News) – Banks were more aggressive in credit expansion with disbursements growing 13.35 percent year-on-year in October this year as against a growth of 12.6 percent in the previous month, the Financial Service Authority (OJK) revealed.

Third party funds held by banks also grew stronger 7.6 percent (yoy) than a growth of 6.6 percent in September in the same year, Deputy Commissioner of OJKs Strategic Management and Logistic Anto Prabowo said after a meeting of the OJK Commissioner Council here earlier this week.

Anto said based on the conclusion taken at the meeting, the countrys financial sector was quite stable.

Emerging markets including Indonesia enjoyed the positive impact of the US political and economic dynamics especially the result of the mid term elections which strengthened the position of Democrat Party in the Congress, giving greater control by the party over the US Government policy, he said.

The US economic development, which began to be less encouraging, also had prevented the yield of the US Government bonds and the dollar from rising.

By Nov 23, the composite share price index (IHSG) of the Indonesian Stock Exchange recorded a growth of three percent since Nov.1 this year.

“The IHSG strengthening was driven by the sectors of finance, basic industry and property. Non-resident investors recorded a net buy of Rp9.5 trillion,” Anto said.

In the market of state securities (SBN), the yields of short, mid and long terms bonds respectively dropped 34 basis points (bps), 52 bps, and 49 bps mtd. Foreign net buy was Rp30.3 trillion.

In the stock market, funds raised by corporations reached Rp156 trillion by 23 November 2018. There were 56 new listed companies so far this year, up from 45 companies newly listed in the same period in 2017.

Fresh funds raised by listed companies were dominated by those in the financial sector accounting for 56.91 percent.

Anto said the quality of assets of financial service was fairly good as indicated by the level of Non Performing Loan ratio of 2.65 percent recorded by the banking industry and non performing financing ratio of 3.21 percent by financing companies.

Bank capital adequacy ratio by October, 2018 was stable at 23.09 percent and “Risk-Based Capital” of general insurance companies and life insurance companies were 308 percent and 418 percent respectively.

Source: ANTARA News