New Bank Indonesia Governor to Seek Overseas Talks on Bank Reciprocity
Indonesia’s new central bank governor said on Friday that he will seek “good negotiations” with overseas monetary authorities on banking reciprocity. Agus Martowardojo, the former finance minister who officially became Bank Indonesia governor on Friday, told reporters shortly after his swearing-in ceremony that he would respect the country’s current regulations on banking reciprocity and look more »
Indonesian Bonds Set for Worst Week Since August on Rate Outlook
Indonesian bonds headed for their worst week since August, driving the 10-year yield to a seven- month high, after the central bank signaled it will start increasing borrowing costs. The rupiah declined. “We already changed to neutral since February last year and now we’re even moving toward a tightening bias,” Deputy Governor Perry Warjiyo said more »
Google Said to Consider Buying Waze, Possible Bid War With Facebook
Google Inc., maker of the Android operating system, is considering buying map-software provider Waze Inc., setting up a possible bidding war with Facebook Inc., people familiar with the matter said. Waze is fielding expressions of interest from multiple parties and is seeking more than $1 billion, said one of the people, who asked not to more »
Depreciating Rupiah a Boost For Manulife
A depreciating rupiah may be hampering businesses relying heavily on imports, but it is proving a boon for at least one fund management house. Manulife Aset Manajemen Indonesia says its US-dollar fund is attracting great interest from investors keen to enjoy the benefits of a currency that is strengthening against the rupiah. The mutual fund more »
Indofood and Multistrada Scouting for Plants in Kazakhstan, Official Says
Astana, Kazakhstan. Indonesian companies including Indofood Sukses Makmur and Multistrada Arah Sarana are considering investing in Kazakhstan as an entry point to the Central Asian market, an Indonesian government official says. Rizal Affandi Lukman, deputy minister for economic and international financing cooperation, told the Jakarta Globe on Thursday that Indofood, the world’s largest instant noodle more »
Mandala’s Goals Are Sky High
Previously bankrupt low-cost carrier Mandala Airlines is aiming to carry 7 million passengers a year by 2015, following an increase in the number of planes it operates and routes it services, its leader said on Thursday. Paul Rombeek, president director of Mandala Airlines, said in Jakarta on Thursday that the airline plans to add 18 more »
Property Firm to Sell Rp 1.2t in Bonds for Expansion
Agung Podomoro Land, one of Indonesia’s largest property firms, plans to raise Rp 1.2 trillion ($123 million) from selling a five-year bond next month, using the proceeds to refinance debt and fund land acquisition. The Jakarta-based company is offering the notes to investors from June 19 to 21, the company said in the brief prospectus more »
Protelindo Secures $526 Million to Refinance Loans
Telecommunications tower company Sarana Menara Nusantara announced on Wednesday that its subsidiary Profesional Telekomunikasi Indonesia has secured loans to refinance its maturing debt. “On May 20, Protelindo and its subsidiary, Protelindo Finance BV, signed a $475 million and 40 million euro [$51 million] syndicated term loan and revolving credit facility agreement,” Sarana Menara said in more »
Astra Sedaya to Raise Rp 3t Via Bonds to Finance New Motorbike Purchases
Astra Sedaya Finance, a financing unit of Astra International, Indonesia’s biggest automotive distributor, plans to sell Rp 3 trillion ($306 million) in bonds next month to finance its business. The company expects to offer the notes to investors from June 21 to 24, it said in a brief prospectus published in Investor Daily on Thursday. more »
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