Category: Economy

PT GoTo Gojek Tokopedia Tbk is listed on the Indonesia Stock Exchange (IDX) today. GoTo became the first decacorn to be listed on the Asian exchange. IDX Director of Corporate Valuation, I Gede Nyoman Yetna said GoTo was also the 15th company listed on the IDX this year, and the 781st overall.

“GoTo will become the 15th listed company in 2022 and 781 on the stock exchange at this time. The listing of GoTo shares is highly anticipated, becoming an important milestone for both the company and the capital market industry. Indonesia’s largest digital market and able to raise IDR 13.7 trillion and market capitalization IDR 400 trillion. This makes GoTo a technology company with a decacorn valuation level and is the first decacorn to be successfully listed on Asian exchanges.” said Nyoman at a press conference, Monday (11/4/2022).

IDX hopes that GoTo can maintain transparency and accountability after becoming a public company. “The exchange hopes that GoTo will soon realize its strategy, always innovate and maintain transparency and accountability to the public,” he said.

April 11, 2022, detikFinance

(https://finance.detik.com/bursa-dan-valas/d-6026532/bei-goto-jadi-decacorn-pertama-tercatat-di-bursa-asia)

The entire series of Electric Multiple Units (EMU) or trains for the Jakarta-Bandung High Speed Rail (KCJB) project, totaling 11 units, have been completed in production at CRRC Sifang, Qingdao, Shandong Province, China in early April. Not only EMU, previously one unit of the Comprehensive Inspection Train (CIT) or inspection train has also been completed. The completion of the production process for the CR400AF type EMU series adds to the achievement of the KCJB (Kereta Cepat Jakarta-Bandung) throughout 2022.

The EMU and CIT series are targeted to arrive in Indonesia in the second semester of 2022. EMU is a series of high-speed trains with advanced specifications and is able to monitor hazards such as earthquakes, floods, to foreign object attacks, and is fire resistant.

The security system installed in the KCJB EMU series will be supported by various security instruments such as the Dispatching Monitoring Center, threat detection sensors along the KCJB route, and the Disaster Monitoring Terminal in Tegalluar as the center for disaster data management. In addition, there are also direct observation instruments in the field with CCTV connected to the KCJB command center to send visual information.

            KCJB’s operations are supported by CTSC 3/GSM-R network technology and fiber optics that have been proven globally in terms of rail safety, especially high-speed trains. Then, there are also Internal and External Lighting Protection Systems in KCJB construction.

“The KCJB security system is not only installed in the EMU circuit. Starting from Tegalluar, and along the KCJB route, we have prepared various high-level security systems so that KCJB can run well and optimally,” said the President Director of PT Kereta Cepat Indonesia China (KCIC) Dwiyana Slamet Riyadi.

April 8, 2022, detikFinance

(https://finance.detik.com/infrastruktur/d-6023019/kereta-cepat-jakarta-bandung-selesai-diproduksi-di-china-ini-kecanggihannya)

The rare Sumatran rhino is in the spotlight of foreign media. Most recently, the species gave birth in Way Kambas National Park. One of the highlights was CNN. He said, Wednesday (30/3/2022), that moment was an ‘important opportunity for the survival of the Sumatran rhino species. The extremely rare Sumatran rhino has been born in captivity in a nature reserve in Indonesia, according to the government. It’s a celebration of conservation efforts to save endangered animals from extinction. The female rhino was born in the Sumatran Rhino Sanctuary in Way Kambas National Park in Lampung province on March 24, according to Indonesia’s Ministry of the Environment.

“The birth of the Sumatran rhino is good news amid the efforts of the Indonesian government and partners to increase the Sumatran rhino population,” said the Director-General of Environmental Conservation at the Ministry of Environment, Wiratno.

The Sumatran rhinoceros, the world’s smallest rhino species, once bred throughout Southeast Asia but is now found only in small pockets on the northern islands of Sumatra and Borneo in Indonesia. Fewer than 80 Sumatran rhinos remain, according to the International Rhino Foundation (IRF).

The captive program at the Sumatran Rhino Sanctuary, assisted by IRF, is the only place where the Sumatran rhino breeds naturally with the support of technology and collaboration of expertise. The program aims to maintain the survival of the Sumatran rhino by increasing the number of rhinos. So that one day this rhino can be released back into the wild. Without intervention, the IRF says the Sumatran rhino will be extinct in a matter of decades. International rhino experts and the Indonesian government have decided relocating rhinos to a captive breeding program is the only way to save the species.

March 30, 2022, detikTravel

(https://travel.detik.com/travel-news/d-6008566/badak-indonesia-langka-yang-melahirkan-disoroti-media-asing)

Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan said the Jakarta-Bandung High-Speed Train (KCJB) project would later be inaugurated by President Jokowi and Chinese President Xi Jinping.

            “We want it because later, hopefully, President Xi Jinping and President Jokowi will also be in Bali. We will also try to inaugurate some of our big projects with China using Zoom,” said Luhut during a visit to tunnel 6 area in Purwakarta, West Bandung Regency, Wednesday (30/3/2022).

            For now, Luhut said the KCJB Project is targeted for trials this year, November to be exact. Previously, the KCJB construction project in tunnel 6 had experienced delays. The project was delayed due to landslides, due to the geographical location which had to pass through clay shale conditions. Thus, it makes the development process take more time.

“Due to yesterday’s landslide problem, we have been delayed for about 5-6 months. We will try to get rid of it immediately, if possible, 10 months from now, it will be a trial,” said Luhut.

March 30, 2022, detikFinance

(https://finance.detik.com/infrastruktur/d-6008339/luhut-sebut-xi-jinping-bakal-resmikan-kereta-cepat-jakarta-bandung)

Group of 20 (G20) chair Indonesia will adhere to the economic theme of G20 meetings this year, even though a growing rift between members over the Ukraine crisis threatens to derail talks at the international forum. G20 sherpa track chair and Coordinating Economic Affairs Minister Airlangga Hartarto said Indonesia would uphold the group’s traditional role as an economic forum. The government will not realign the agenda to accommodate geopolitical issues, “which are clearly political and security issues”.

“There are many forums for geopolitical and security issues, such as the United Nations general meeting and UN Security Council. These are the channels to resolve geopolitical issues in Ukraine,” Airlangga told The Jakarta Post on Tuesday.

As the leader of the G20 forum this year, Indonesia has been adamant not to accommodate pressures to address the political impact of Russia’s invasion of Ukraine. The international forum, which includes Russia, has been on track despite the US and its western allies questioning whether Russia should remain within the G20 following the invasion.

March 25, 2022, The Jakarta Post

(https://www.thejakartapost.com/business/2022/03/24/indonesia-balks-at-pressures-to-add-ukraine-war-to-g20-agenda.html)

MotoGP Mandalika 2022 has been completed. Although accompanied by several notes, this event is expected to be a revival of Indonesia in the midst of the COVID-19 pandemic. MotoGP has finally returned to Indonesia after 25 years of absence. Held at the Pertamina Mandalika International Street Circuit, Sunday (20/3/2022), the race was delayed by an hour due to heavy rain.

Indonesia’s great success at the inaugural Mandalika MotoGP event invited a lot of praise. Moreover, the organizers of the Mandalika Grand Prix Association (MGPA) were criticized for having circuit problems in the pre-season test session last February. Although it is recognized that the name of the inaugural event can not be separated from several shortcomings outside the race, such as the supporting facilities around the circuit are not fully 100 percent.

However, Indonesia still has a year to improve before the 2023 race. What is certain is that with the Mandalika MotoGP, the Indonesian economy, especially Lombok, has faltered due to the COVID-19 pandemic. Plus, the Mandalika MotoGP was also questioned because, at the beginning of the pandemic, there were restrictions on activities in the country and also in many countries. However, amid Indonesia’s efforts towards endemic status, the primary class motorcycle race was able to be held.

            “The Mandalika MotoGP is momentum for Indonesia’s economic revival, especially tourism. Therefore, it is hoped that next year, MotoGP can be even better,” said Angkasa Pura Logistik President Director Danny P Thaharsyah.

March 21, 2022, detikSport

(https://sport.detik.com/moto-gp/d-5992745/semoga-motogp-mandalika-jadi-momentum-kebangkitan-indonesia)

IDX Composite opened green by 0.48% to 6,951.35 on Wednesday (16/3/2021). IDX Composite continued to rise at 09.20 PM with an appreciation of 0.77% and moved at the level of 6,967.81.

The shares that were bought the most by foreigners were PT Bank Negara Indonesia Tbk (BBNI) and PT Bank Central Asia Tbk (BBCA) with a net buy of Rp38 billion and Rp68 billion, respectively. Meanwhile, the shares most sold by foreigners were shares of PT Merdeka Copper Gold Tbk (MDKA) and PT PP Tbk (PTPP) with a net buy of Rp11 billion and Rp6 billion, respectively.

From abroad, investors will be watching the release of Japan’s trade balance data as of February 2022 at 06.50 AM. The market consensus compiled by Tradingeconomics predicts that the trade balance of the Land of the Rising Sun will still return to a deficit of JPY 112.6 billion.

Meanwhile, in the US, market consensus predicts that US oil stocks will decrease by 0.97 million barrels, from the previous period’s position of 1.86 million barrels. Then, gasoline stocks are also expected to fall by 1.73 million barrels as of March 11, from the previous decline of 1.41 million barrels. This data will also be observed by investors because the level of oil inventories will also affect the price of petroleum products, which in turn can have an impact on inflation.

March 10, 2022, CNBC Indonesia

(https://www.cnbcindonesia.com/market/20220316092025-17-323159/didukung-asing-ihsg-kembali-hijau-mencoba-pepet-7000)