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ASEAN+ July 18, 2017 01:00

By Asia News Network

Indonesian govt holds business forum in Taipei

The Indonesian government, through the Indonesian Economic and Trade Office (KDEI), has held a business forum in Taipei to encourage Taiwanese businesspeople to increase trade and investment in Indonesia.

The July 13 event, organized by KDEI Taipei in cooperation with Indonesia’s Investment Coordinating Board (BKPM) and CTBC Bank, aimed to showcase Indonesia’s progress in improving the business climate.

“Transparency is the spirit that we promote in our economic policy, especially in the investment policy. 

This in line with the New Southbound Policy that has become Taiwan’s primary foreign policy,” KDEI head Robert J Bintaryo said on Saturday, as quoted by news agency Antara.

BKPM deputy head Azhar Lubis said 60 percent of the total investment in Indonesia in the first quarter of 2017 was foreign capital investment, amounting to US$7.3 billion. – The Jakarta Post 

Land acquisition ‘would hamper rail project’

The government has not decided whether the Jakarta-Surabaya medium-speed railway would use existing railway tracks or develop new tracks as hinted by Coordinating Maritime Affairs Minister Luhut Panjaitan, an official has said.

Agency for the Assessment and Application of Technology (BPPT) head Unggul Priyanto said if the second option was chosen, the government would have the additional task of acquiring land for the project. Land acquisition has always been a serious problem in infrastructure development. Construction of the Jakarta-Bandung railway has been stalled by acquisition problems even though the groundbreaking ceremony was held in January 2016.

“Theoretically, state-owned railway operator PT KAI owns the land a number of meters from existing tracks, but the land is often occupied by people,” said Unggul when attending a mapping process for the location of the project using a drone produced by BPPT in Cerebon, West Java, over the weekend.

Therefore, the government would have to acquire land for the project if the government decided to develop new tracks, he said. – The Jakarta Post 

Safe drivers to pay lower insurance via Digi, iFleet 

Safe drivers will be able to be benefit from lower insurance premiums via a tie-up between Digi.Com Bhd and fleet management solutions provider iFleet which will monitor their driving habits. 

In a joint statement issued on Monday, Digi was pushing ahead into the Internet of Things business with a ready-to-market usage-based insurance (UBI) platform.

This platform is available to all players in the motor insurance industry to develop and offer customised products to market quickly to leverage opportunies with the de-tariffication of insurance premiums. This move follows Bank Negara Malaysia’s (BNM) recent liberalisation of the motor insurance industry. – The Star 

Medco buys into Australian firm 

PUBLICLY listed Indonesian oil and gas company PT Medco Energi Internasional, through its subsidiary PT Amman Mineral Nusa Tenggara (AMNT), is set to acquire 44.3 per cent of the shares of Australia-based mining contractor MacMahon Holdings.

MacMahon has signed an agreement with AMNT to provide mining services at the latter’s Batu Hijau mine in Sumbawa, which produced 798,000 ounces of gold and 216,363 tonnes of copper last year. Under the agreement, MacMahon will acquire moving mining equipment from AMNT. In return, it will issue around 954 million new shares priced at 20.3 Australian cents, equal to 44.3 per cent of its enlarged share capital, for Singapore-based Amman Mineral Contractors, which is indirectly owned by AMNT.

“The approval of MacMahon’s shareholders is expected to be obtained in July. Under the agreement, the transaction will be completed on or before September 29,” Medco stated in a statement. – The Jakarta Post


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