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Kapital News Highlight - October 12

Saturday, October 13, 2018



• A number of African countries have expressed interest in buying CN 235 and N 219 planes produced by Indonesian state-owned aircraft manufacturer PT Dirgantara Indonesia (PT DI). The two types of aircraft are on display at the Pavilion Indonesia of the 2018 IMF - World Bank Annual Meetings in Nusa Dua, Bali. The president director of PT DI Elfien Goentoro said that Congo, Sudan, and Madagascar have expressed interest and still exploring a possible purchase. The motivation of PT DI for displaying the two aircraft was to showcase to the delegates of IMF-World Bank event. Elfien said that Africa and Norway put interest on the CN 235 and N 219 as the aircraft suit the country's geography. Moreover, Elfien revealed that PT DI would deliver four planes in 2019 to Senegal, Nepal, and Thailand. (The Jakarta Globe)

• Indonesian state-owned companies will sign an agreement this week to push US$13,6 billion in planned infrastructure projects as the country seeks to diversify funding sources. The Minister of State-Owned Enterprises Rini Soemarno said that there will be more than 20 deals signed by more than 12 state companies, including Pertamina and Taiwan's CPC Corporation for a joint petrochemical business worth of US$6,5 billion. The Chief Executive of Mandiri Sekuritas Silvano Rumantir said that most of the agreement due to be signed yesterday (11/10) was for strategic partnerships. Rini added that partnerships can reduce Indonesia's leverage position so Indonesia can deleverage and get more equity-based financing. (The Jakarta Globe)

• New Zealand is currently exploring more business opportunities in the food industry in Indonesia. Not only through innovative food solutions, but also solutions to creating safe and healthy food products in line with changes in consumer preferences in Indonesia. New Zealand Trade and Enterprises (NZTE) said that consumers in Indonesia are now more selective and demand higher quality, healthier, and safer foods. Many New Zealand companies are exporting to Indonesia, not only products that incorporate pioneering technologies, but also their expertise. As Indonesia and New Zealand are celebrating 60 years of bilateral relations this year, the Minister of Industry Airlangga Hartanto said that the two countries are committed to increasing the value of trade between them. (Jakarta Globe)

• Microsoft Corp will invest an unspecified amount in Grab as its preferred platform for cloud services. The companies will collaborate on technologies, including artificial intelligence, big data, and connected car platforms. Grab wants the US company's natural language processing capabilities to provide real-time translations for passengers and their drivers. Microsoft's executive vice president Peggy Johnson said that Microsoft and Grab can produce many new and exciting services. Moreover, Grab President Ming Maa said that the Microsoft investment is part of a targeted $3 billion of funding that Singapore-based Grab expects to raise by the end of 2018. (The Jakarta Post)

• The Indonesian government will issue a waqf-linked sukuk on October 14. The executive director at waqf institution Wakaf Al-Azhar Nanda Putra Setiawan said that the issuance of sukuk was for the construction of affordable hoses for the earthquake victims in Lombok and Palu. The indicative amount of the sukuk is Rp100 billion (US$6,57 million) with a 5-year tenure and 7.75 to 8 percent profit rate. Setiawan said that the amount of sukuk issuance is relatively small compared to the usual one. Setiawan added that cash waqf contributors can buy sukuk starting from Rp2 million to a maximum of Rp5 billion. According to the vice chairman of Badan Wakaf Indonesia Imam Teguh Saptono the launch of the waqf-linked sukuk is an effort to increase cash waqf in Indonesia. Since it was first introduced in 2010, cash waqf reached only Rp199 billion as noted at the end of March 2018. (Salaam Gateway)

 

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