Indonesia News Blog

Sabang vendors start over at Jl. Kampung Lima

noreply@blogger.com (admin) — Sun, 08 Nov 2009 10:02:00 +0000

If last night you missed your favorite culinary crowd on Jl. Agus Salim in Central Jakarta, worry not. Vendors of the popular culinary center can now be found on Jl. Kampung Lima, a three-minute walk from their former location.

The new location looks even better. Around 80 brand new food stalls and 20 goods stalls are neatly arranged in two rows, and a long canopy is provided to protect visitors from heat and rain.

About 160 vendors from Jl. Agus Salim (popularly known as Jl. Sabang) used to alternate between day and night shifts on Jl. Kampung Lima.

"Don't worry about not being able to get your favorite dish. Just ask. You want roti cane *traditional indian bread* that used to be located near the traffi c light? It will now be at stall No. 54," said Sugeng, who sells coffee and instant noodles.

He said people could just ask security officers around the area if they did not know the new stall of their favorite food vendors.

Jl. Kampung Lima is a long alley that connects Jl. Sabang and Jl. M.H. Thamrin, Central Jakarta.

The relocation was implemented on Nov. 1, after the administration had fi nished preparing the new stalls on Jl. Kampung Lima. Many day vendors have started to run their businesses, although the night ones had yet to start.

Central Jakarta Mayor Sylviana Murni said the relocation of street vendors was to help ease the traffic.

"We just want to return the street to its function *as a main thoroughfare*. The solution was *to relocate the vendors to* Kampung Lima," she recently told the Post.

Yudhoyono Replaces Indonesia Military Chiefs

noreply@blogger.com (admin) — Sat, 07 Nov 2009 23:48:00 +0000

President Susilo Bambang Yudhoyono has unexpectedly replaced the heads of the Army, Navy and Air Force.

Army Chief of Staff Gen. Agustadi Sasongko Purnomo will be replaced by Commander of the Army Strategic Command Lt.Gen.George Toisutta; Navy Chief of Staff Admiral Tedjo Edhy Purdijatno will turn his position over to Defense Ministry Inspector General Vice Admiral Agus Suhartono; and Air Force Chief Air Marshal Subandrio will give way to Deputy Air Vice Marshal Imam Sufaat.

Army Spokesman Brig. Gen. Christian Zebua said on Saturday that he did not know the reason for the substitutions and noted that it is the president's choice when to replace top staff. He said the presidential decree stipulating Agustadi's replacement was issued on Friday.

All three chiefs are to be sworn in next week. Air Force Spokesman Air Commodore Bambang Sulistyo said that presented a challenge.

Indonesia's Delta Raises $383 Million

noreply@blogger.com (admin) — Sat, 07 Nov 2009 08:11:00 +0000

Indonesia's PT Delta Dunia Petroindo raised more than $383 million in an equity placement Friday, the latest step in a deal that gives investors access to one of the country's largest coal-services contractors.

The former property company sold 2.6 billion secondary shares close to the lower end of its indicative price range, people familiar with the matter said.

Indonesia's economic growth to reach 8% by 2014: minister

noreply@blogger.com (admin) — Sat, 07 Nov 2009 08:09:00 +0000

State Minister for National Development Planning (Bappenas) affairs Armida Alisjahbana estimated that Indonesia's economic growth to reach 8 percent by 2014 when the present government ends its service, local media reported here on Saturday.

Armida said that Indonesia's economic condition would continue to improve in the following years with 2010 growth estimation set at a range of 5.5-5.6 percent.

"With extra efforts, by 2011 Indonesia's economic growth could be boosted up to 8 percent to 2014. With moderate efforts, the growth could reach 7 percent," Armida was quoted by the Detik.com as saying.

She said that the growth estimation is based on normal external factors condition assumption and great support from inside the country.

"Improving the investment would be an essential step to bolster the economic growth. It should be actively carried out by the private sector since the government only allocates 15 percent from its state budget to boost investments," Armida said.

The minister said that Bappenas is now seeking breakthroughs to entice investors from Middle East, South Korea, Eastern Europe, India to set more investments in Indonesia.

Bakrie Secures First Piece Of Newmont in $391m Deal

noreply@blogger.com (admin) — Fri, 06 Nov 2009 23:59:00 +0000

After years of often fractious negotiations, the first 10 percent stake that US-based Newmont Mining is required to divest in its local subsidiary, PT Newmont Nusa Tenggara, was officially sold on Friday for $391 million to a consortium of local governments and a company affiliated with the Bakrie group.

The announcement of the sale marks what observers say is the first step in a gradual takeover of NNT by the politically connected Bakrie family.

Speaking at the signing of the contract at the Energy and Mineral Resources Ministry, Muhammad Zainul Majdi, the governor of West Nusa Tenggara, promised that the consortium would pay the full $391 million for the NNT stake before the deadline next Thursday. Newmont would then “pay back” $38 million to the province through corporate social responsibility programs, he said.

Bambang Setiawan, the ministry’s director general of coal and geothermal energy, said the money would be transferred back to the consortium within a year and would be spent on welfare programs.

The consortium, comprised of the governments of West Nusa Tenggara province and Sumbawa and West Sumbawa districts, joined Bakrie affiliate PT Multicapital to acquire the 10 percent stake, combining a 3 percent and a 7 percent tranche that were initially supposed to be divested in 2006 and 2007, respectively.

10,000 Indonesian Bibles Seized in Malaysia for Using the Word ‘Allah’

noreply@blogger.com (admin) — Fri, 06 Nov 2009 23:50:00 +0000

The Malaysian government has refused to release 10,000 Bibles confiscated for using the word “Allah” to refer to God, a banned translation in Christian texts in the Muslim-majority country, an official said on Wednesday.

An official from the Home Ministry’s publications unit said the government rejected pleas by church officials to allow the Bibles, imported from Indonesia, into the country. Christians say the Muslim Malay-dominated government is violating their right to practice their religion freely.

Such disputes are undermining Malaysia’s reputation as a harmonious multiethnic, moderate Muslim nation. About 30 percent of the country’s 28 million people practice Christianity, Buddhism, Hinduism or other faiths.

Church officials say the Arabic-origin word “Allah” has been used for centuries to refer generally to God in both Indonesian and Malaysian languages, which are similar. The word is even used by Christians in Arabic-speaking countries around the world.

The government, however, maintains that the word “Allah” is an exclusively Islamic word. The Roman Catholic Church is challenging the ban in court.

U.S. to sign bilateral comprehensive partnership with Indonesia next year

noreply@blogger.com (admin) — Fri, 06 Nov 2009 10:36:00 +0000

United States government would signup a comprehensive bilateral agreement that covers various sectors with Indonesian government on the eve of President Barack Obama'svisit to Indonesia next year, the Bisnis Indonesia daily reported here on Friday.

The confirmation was conveyed by U.S. ambassador to Indonesia Cameron R. Hume. According to Cameron, the agreement, called U.S.-Indonesia Comprehensive Partnership, would be signed by President Susilo Bambang Yudhoyono and President Barack Obama.

The ambassador, however, could not confirm President Obama's Indonesian visit schedule next year.

Cameron said that the agreement would pave the way for more cooperation between the two countries in terms of education, business and investment, climate change mitigation, scientific research, food security and defense.

The comprehensive bilateral partnership was initiated by President Susilo during his visit to the United States in November2008. The Indonesian president initiative was responded well by President Obama.

DPR Supports the Police

noreply@blogger.com (admin) — Fri, 06 Nov 2009 09:02:00 +0000

All factions in the legal commission of the House of Representatives (DPR) have given their support to the Indonesian police headquarters over the Bibit and Chandra arresting case.

“We are with the police to overcome these accusations,” said a faction representative from United Development Party (PPP), Ahmad Yani.

“If there are any police involved in this case, they should be fired,” he said.

Support also comes from the Golkar Party. “The police does not let want to be messed up,” said Golkar faction representative, Panda Nababan.

In addition, the faction from the Indonesian Democratic Party of Struggle (PDIP) stated its support for the police.

“This is a tragedy and should be solved, so the police's reputation can be recovered,” it said.

The National Police Chief, Gen. Bambang Hendarso Danuri, was glad at this response.

President sets 45 programs for first 100 days

noreply@blogger.com (admin) — Fri, 06 Nov 2009 02:30:00 +0000

President Susilo Bambang Yudhoyono has set 45 programs to be implemented by his cabinet in the first 100 days in office including 15 priority programs.

"The first 100 days are an important period of time and therefore after planning, formulating and listening to recommendations I today determined the programs so that important activities could be done in the period to make the programs for the next five years could be done well and be better than before later in the next five years," he said after presiding over a cabinet meeting at his office on Thursday.

The head of state said the 15 main programs were programs that had to be completed.

"Of the 45 programs I have determined 15 as urgent programs for implementation in the first 100 days," he said.

The priority programs include eradication of "mafia" of justice through the opening of post office box 9949 to recieve complaints from the public.

"By mafia of justice I mean those who conduct activities that hurt others such as those done by legal case middlemen, bribery, extortion, case trade, threats on witnesses and illegal levies," he said.

President Yudhoyono emphasized the importance of the operation against them because these activities damaged the sense of justice and caused material damages and gave illegal benefits for the actors.

The second priority program meanwhile is revitalizing strategic industries. President Yudhoyono also mentioned counter-terrorism efforts, increasing electricity capacity, improving production sector and food resilience as well as revitalizing fertilizer and sugar plants as the other priority programs.

Five other priority programs cover environment, health, education, disaster management and synchronization of relations between central and local administrations and also with private sectors.

"After this it will be work. The good plan is only 30 percent of the success. If we do not have plans or directions we will fail to achieve the targets," he said.

Indonesia to Decide Today on Australia Asylum Seekers

noreply@blogger.com (admin) — Fri, 06 Nov 2009 02:28:00 +0000

Indonesia’s government will decide today whether to grant Australia more time to persuade 78 Sri Lankan asylum seekers to leave a customs vessel moored in Indonesian waters, Sky News reported.

Australian officials have tried for almost two weeks to convince the ethnic Tamil refugees to voluntarily leave the Oceanic Viking ship and enter the Tanjung Pinang detention center on the island of Bintan, northwest of Jakarta.

The Tamils, who were picked up from their damaged boat by the Oceanic Viking in Indonesia’s search and rescue zone last month, are refusing to leave and say they want to be taken to Australia, Sky said. Security clearance for the customs vessel to remain in Indonesian waters expires late today.

Australian Prime Minister Kevin Rudd’s government is under pressure from opposition lawmakers to cut the number of asylum seekers arriving in Australian waters. Australia and Indonesia plan to draft an agreement to tackle people smuggling before Rudd and President Susilo Bambang Yudhoyono meet in Singapore next week at the Asia-Pacific Economic Cooperation summit.

PLN Short $504m to Fix Jakarta Blackouts

noreply@blogger.com (admin) — Thu, 05 Nov 2009 23:46:00 +0000

Cash-strapped state electricity company PT Perusahaan Listrik Negara needs to find an additional Rp 4.8 trillion ($504 million) to buy and install six additional transformers to curb chronic power shortages in Greater Jakarta, a company official said on Thursday.

PLN needs Rp 5.6 trillion for the six transformers, but has only Rp 800 billion set aside for major maintenance in Jakarta this year. It has proposed borrowing Rp 3 trillion from the government, and is hoping to secure Rp 1.8 trillion in loans from the World Bank or another international organization, said Nur Pamudji, PLN’s general manager of power supply management in Java and Bali.

The six transformers would increase the capacity of PLN’s ailing power stations in Bekasi, Cawang, Gandul, Balaraja, Kembangan and Muara Tawar. They currently face frequent overloads, resulting in blackouts throughout Greater Jakarta when demand exceeds PLN’s ability to supply electricity.

Indonesia’s most famous caddy finally enters courtroom

noreply@blogger.com (admin) — Thu, 05 Nov 2009 09:55:00 +0000

Rhani Juliani, the key witness in high-profile trial involving former anti-graft body leader Antasari Azhar, finally showed up to give her first testimony to a hearing Thursday.

Wearing a black blazer and trouser, Rhani, 22, arrived at 2 p.m. at the South Jakarta District Court under tight security from dozens of police officers, preventing journalists getting too close to her.

She was directed to the court's main courtroom to appear at a scheduled closed hearing.

Presiding judge Herri Swantoro, at a previous hearing, had ordered that Rhani's testimony would be heard in a closed courtroom upon consideration that they would be cross-checking facts on the alleged sexual affair between the defendant and the witness.

Rhani's most-awaited testimony will prove whether the alleged revenge motive behind Nasruddin murder is true or not.

Antasari, former chairman of the Corruption Eradication Commission (KPK), is currently on trial for allegedly masterminding the murder of Nasruddin Zulkarnaen, a director of state pharmaceutical company PT Putra Rajawali Banjaran.

Nasruddin, to whom Rhani was married, was killed in a drive-by shooting near Modernland golf course in Tangerang in March this year.

Rhani used to work as a golf caddy at Modernland, usually caddying for the golf course's prominent members, including Antasari and Nasruddin.

In their indictment, the prosecutors had recounted details of a sexual affair between Nasruddin's third wife Rhani Juliani and Antasari. Nasruddin had caught the pair in flagrante delicto in a room at the Grand Mahakam Hotel in South Jakarta in May last year and had later hounded Antasari's family over the affair.

Indonesia: Benefits, risks of Carbon-Trading plans

noreply@blogger.com (admin) — Thu, 05 Nov 2009 09:53:00 +0000

Palm oil plantations spanning tens of thousands of hectares have changed the landscape of Indonesia, a country that suffers from one of the world's highest deforestation rates thanks to illegal logging, forest fires and land conversion. Deforestation's contribution to global carbon emissions is at the heart of debates on cutting global warming.

Greenhouse gases released by cutting down forests make Indonesia one of world's top emitters. In December, when the world gathers for climate change talks in Copenhagen, much of the debate will focus on a plan to cut forest-related emissions, called REDD - Reducing Emissions from Deforestation and Degradation.

Frances Seymour, director general of the Consultative Group on International Agricultural Research, on Wednesday in Jakarta spoke about the possible benefits of REDD.

"If negotiations are successful in Copenhagen there will be a global mechanism to channel finance from developed countries to forest countries, such as Indonesia, to compensate for the opportunity cost of protecting those forests from other uses," said Seymour.

Basically, under REDD, polluting industries could buy carbon credits -paying some other business or country to cut its emissions. That means businesses and landowners could get paid to maintain rainforests. It also would protect peat land, which when cleared gives off more emissions than any other type of land.

Abdon Nababan runs an Indonesian organization that helps indigenous people manage their natural resources. He says a key to making REDD work is improving the rights of indigenous communities.

"You have to invest first in rights, you have to invest in first in local livelihoods if you want to succeed in climate change in Indonesia," said Abdon.

Greenhouse gas emissions, such as carbon dioxide and methane, come from burning fossil fuels, clearing forests and livestock production. Many climate scientists think the gases contribute to global warming.

Indonesia has shown its willingness to find a global solution to climate change, with President Susilo Bambang Yudhoyono pledging to cut emissions from the forestry sector 26 percent by 2020.

Although it is not clear there will be a climate change agreement in Copenhagen, some companies have already begun investing in conservation projects in the hope that if REDD goes through they can profit by trading carbon credits.

But some environmentalists see REDD as too much of a business project, and are not optimistic that the plan will do much to save Indonesia's forests.

By Sara Schonhardt

China's CIC confirms $1.9 bln investment in Bumi

noreply@blogger.com (admin) — Thu, 05 Nov 2009 09:27:00 +0000

China Investment Corp, the country's sovereign wealth fund, on Thursday confirmed that it had invested $1.9 billion in Indonesia's PT Bumi Resources Tbk via debt instruments.

The Indonesian coal miner announced this deal with CIC in September.

KPK grills Tjahyo Kumolo in alleged bribery case

noreply@blogger.com (admin) — Thu, 05 Nov 2009 09:23:00 +0000

The Corruption Eradication Commission (KPK) is questioning lawmaker Tjahyo Kumolo as a witness in an alleged bribery case concerning the selection of the senior deputy governor of Bank Indonesia (BI) in 2004.

The KPK spokesman Johan Budi SP said the anti-graft body's investigators were still asking for clarification from the legislator as of 1 p.m.

Kompas.com reported that the KPK had declared four people suspects in the case – lawmakers Hamka Yandhu, Dudhie Makmun Murod, Endin SJ Soefihara and former auditor Udju Juhaeri.

Previous questions revealed that Dudhie had denied Tjahyo, who is from the Indonesia Democratic Party of Struggle (PDI-P), played any role in the case.

The case was uncovered when former legislator Agus Condro reported to the KPK he had received Rp 500 million (US$ 50,000) after a selection process which finally appointed Miranda S. Goeltom as the new senior deputy governor.

Resignations in Indonesia scandal

noreply@blogger.com (admin) — Thu, 05 Nov 2009 09:21:00 +0000

Two of Indonesia's senior law enforcement officials have resigned over a growing corruption scandal.

Deputy attorney general Abdul Hakim Ritonga and Chief Detective Susno Duadji were linked to an alleged plot to weaken the anti-corruption agency.

Their names came up in recordings in which the suspected plot was allegedly discussed by police and prosecutors.

The case is being seen as a test of President Susilo Bambang Yudhoyono's promises to clamp down on corruption.

The president said more resignations or suspensions could be expected.

"I've advised the police chief and the attorney general to suspend those whose names were mentioned in the tape recordings and discharge them from their duties," AFP news agency quoted him as telling a cabinet meeting.

The resignations of Mr Ritonga and Ch Det Susno Duadji came after calls for their dismissal from Indonesians who have taken to the streets protesting against the suspected plot to weaken the Corruption Eradication Commission (KPK).

Indonesia's Watergate

Human rights groups say the KPK has become a target of the police force because it has been so successful in investigating and charging corrupt officials.

Indonesia is often ranked as one of the most corrupt countries in the world, but the efforts of the KPK have encouraged investors to believe the country is trying to clean up its act, says the BBC's Karishma Vaswani in Jakarta.

The case, which has been dubbed Indonesia's Watergate, has transfixed the nation, says our correspondent.

The tapes were played in a nationally televised session of the Constitutional Court, as part of the defence of two KPK officials arrested on bribery charges.

Corrupt officials

The recorded discussion is allegedly between a businessman and several people thought to be in Indonesia's powerful police force and the attorney general's office.

Discussions on the tapes revealed the speakers were involved in plans to significantly weaken the KPK by implicating two of their officials in bribery charges.

It is a powerful body that has gained the reputation of being tough on corrupt officials - including those in high places, says our Jakarta correspondent.

The KPK officials, Chandra Hamzah and Bibit Samad Riyanto, were released on Tuesday.

A big Japan retailer MUJI was present in Indonesia

noreply@blogger.com (admin) — Wed, 04 Nov 2009 23:04:00 +0000

A big Japan retailer, Mujirushi Ryohin (MUJI), expand their business in Indonesia market with the first outlet at Plaza Indonesia Jakarta and join with a retail local company was called Anak Jaya Bapak Sejahtera (AJBS) Group.

First Outlet, Muji Store Plaza Indonesia was open last Saturday (3/10) by Chairman Ryohin Keikaku Inc, Tadamitsu Matsui, which attending by Japan Ambassador for Indonesia Shiojiri Kojiro, Chairman AJBS Group Andriantoro as a MUJI pers news in Jakarta, (Tuesday).

In his speech, Tadamitsu Matsui said that so far MUJI was present in 16 country with an outlet at least 500, sell many kind of clothes, accecoris, and food as a life style shop which love presented in many country.

Indonesia is 17 countries where MUJI present, Tadamitsu said.

According to Tadamitsu, The first MUJI store in Indonesia can be materialized in close cooperation with AJBS Group who have a big expand and brilliant track record. That’s why Tadamitsu say thanks to his partner, AJBS Group.

In chosen places at Plaza Indonesia, for Tadamitsu, it coz that building as a big shopping mall, prestige, and complete with a tenant mix.

With the MUJI present here we sure that we can build our brand image in Indonesia. In this way MUJI store would be understanded in a real., Tadamitsu said.

Tapes of Alleged High-Level Conspiracy Electrify Indonesia

noreply@blogger.com (admin) — Wed, 04 Nov 2009 08:41:00 +0000

Wiretapped telephone conversations played to an Indonesian court and broadcast on national television Tuesday appeared to implicate senior government officials in a high-profile corruption case that has sparked a public uproar.

The tapes offered insight into an open feud between the Corruption Eradication Commission, or KPK, and the national police, which works with prosecutors in the attorney general's office.

The conversations -- as provided and transcribed by the KPK -- appear to feature a number of people, including two senior prosecutors from the attorney general's office, discussing a plot to create a false charge of bribery against two senior KPK investigators in a bid to get the KPK to drop a case against an Indonesian businessman.

The two KPK officials were suspended by President Susilo Bambang Yudhoyono in September, when police named them as suspects in a bribery case.

Central bank says forex reserves at $64.5 bln at end Oct

noreply@blogger.com (admin) — Wed, 04 Nov 2009 08:38:00 +0000

Indonesia's foreign exchange reserves stood at $64.5 billion at the end of October, the central bank said in a statement on Wednesday, up from $62.3 billion at the end of September.

French Supermarket Carrefour Fined $2.6m for Monopolizing Market

noreply@blogger.com (admin) — Tue, 03 Nov 2009 23:24:00 +0000

Indonesia’s competition regulator on Tuesday ruled that the Indonesian subsidiary of French retail giant Carrefour was guilty of breaching antitrust laws, fining it Rp 25 billion ($2.6 million) and ordering it to sell most of its stake in a local retailer.

The Business Competition Supervisory Commission (KPPU) ruled that PT Carrefour Indonesia had violated the 1999 Anti-Monopoly Law by dominating the wholesale supplier market and forcing unfair trading terms on its suppliers following its acquisition of PT Alfa Retailindo in 2008. The acquisition gave the company an effective 58 percent share in the national retail market, the KPPU said.

Carrefour must sell its 79 percent stake in Alfa Retailindo within a year, said Dedie S Martadisastra, the head of the KPPU’s legal tribunal.

“Since its Alfa Retailindo acquisition in 2008, the French retailer has been in control of the retail market nationwide with a 58 percent share, an increase from 46.3 percent in 2007,” he said.

Police Release 2 Anti-Graft Officials in Abuse Probe

noreply@blogger.com (admin) — Tue, 03 Nov 2009 23:21:00 +0000

Indonesian police released two deputy chairmen of the Corruption Eradication Commission who were arrested last week for alleged abuse of power.

A panel formed by President Susilo Bambang Yudhoyono called for the release of the deputies yesterday after Indonesia’s Constitutional Court played recordings of telephone conversations in which Indonesian businessman Anggodo Widjojo was purportedly heard trying to incriminate anti-graft officials, allegedly with the help of prosecutors and police officers.

Yesterday’s public playing of the phone conversations added another twist in the police investigation against Chandra Hamzah and Bibit Rianto. The case has captured the attention of Indonesians and put Yudhoyono’s drive for clean governance under scrutiny. The president started his second five-year term last week vowing to boost the fight against corruption to attract investment.

“The impact of the recordings will make the people angry and confused that this country can be dictated by a central character called Anggodo,” Adnan Buyung Nasution, a lawyer who leads the president’s team, told reporters at a press briefing earlier today in Jakarta.

“The deferment of detention is not because of external pressure,” Soekarna told reporters in a press briefing aired by TVOne news channel late yesterday.

“This is only a deferment of detention,” Hamzah told MetroTV news channel in an interview after leaving police headquarters today. “The status of the case itself has not been touched.”

Nasution said his team, formed Nov. 2 as an independent body to look into the case, asked the police to arrest Anggodo and take action against high-ranking detectives whose names were mentioned in the recordings, including Susno Duadji, head of the police’s criminal investigation division. Duadji has denied any wrongdoing. The independent team doesn’t have legal authority to order arrests or the release of the deputies.

Indonesia to hold 4th Asian philosophy conference

noreply@blogger.com (admin) — Tue, 03 Nov 2009 10:19:00 +0000

Indonesia will hold the International Conference of Asia Philosophy Association (ICAPA) on Nov. 4-6, in coordination with Turkey's University of Faith, Jaedong Philosophical Association of Korea and the Pacific Countries Social and Economic Solidarity Association (PASIAD) Indonesia.

The conference will be attended by about 150 participants from various countries like Indonesia, Turkey, South Korea, Khzakstan Mongolia, Egypt, Iran, India, Japan and Azerbaijan.

It will discuss social and economic issues in the region, namely Asian civilian society prospect, Asian community and alliance civilization, Asian community ageing, Asian dialog on social and economy, relationship and cooperation inter-Asia, among others.

The conference is aimed to materialize inter-personal tolerance from various countries so that the world peace could be achieved.

Hidayat Nurwahid, the former Indonesia's speaker of Upper House, said that Indonesia was chosen to hold the 4th conference is because of the country's potential to contribute in the event.

He also said that the way Asia thinks and Asia's perspective will contribute for the world's development.

"From Asia, it was born big religions and big countries. So it's normal if the Asian community will take great part in the world civilization," Hidayat told the press on Tuesday.

Choi Woo-Won, the president of Asian Philosophical Association said that the conference has an important mission which is a historical mission to be center of the role for the world's community

KL to roll out red carpet for Hu, Susilo

noreply@blogger.com (admin) — Tue, 03 Nov 2009 08:40:00 +0000

Kuala Lumpur is rolling out the red carpet for Chinese President Hu Jintao and Indonesian President Susilo Bambang Yudhoyono, who are scheduled to visit the country next week.

The Foreign Minister said Susilo would also be making a two-day state visit beginning Nov 11 and Malaysia was the first country the Indonesian president would be visiting after being re-elected for a second term recently.

Susilo is scheduled to have an audience with Tuanku Mizan when he arrives on Nov 11 and a four-eyed meeting with the Prime Minister, followed by a delegation meeting has been arranged for Nov 12.

Anifah said both leaders were expected to put several issues on the discussion table, including enhancing co-operation in areas which were beneficial to Indonesia and Malaysia, maritime borders, Indonesian workers, food and energy security and anti-terrorism co-operation.

Shell Indonesia Removed From Fuel Distributor List

noreply@blogger.com (admin) — Tue, 03 Nov 2009 08:38:00 +0000

PT Shell Indonesia will not be joining three other companies in distributing subsidized fuels next year, the Jakarta Post reported, citing the nation’s fuel and pipeline regulator.

Shell had missed the deadline to submit a letter stating that it would accept the assignment, the newspaper said, citing BPHilir Migas Chairman Tubagus Haryono.

Bankers say Indonesia is Asia's best investment opportunity

noreply@blogger.com (admin) — Mon, 02 Nov 2009 23:50:00 +0000

Indonesia's failure to develop its manufacturing export sector has resulted in a lucky side effect. While its Asian neighbours have suffered severe contractions in growth, the regional giant's dependence on domestic consumption and long-term global demand for its natural resources has maintained its economic engine in working order. And anti-corruption measures and signs of improved corporate governance are forcing a reassessment of its place in investor's portfolios.

"It is no exaggeration to say that Indonesia has joined the Bric countries [Brazil, Russia, India and China] as an attractive destination for investment and its potential for growth and higher living standards. Increasingly, I now talk about the "Brici" countries," said Sarah-Jane Wagg, president director of UBS Securities Indonesia.

The Jakarta Composite Index is up more than 1,000 points since the beginning of the year, reaching 2,468 on September 24, which is 122% higher than the 1,111 nadir it slumped to on October 28, 2008 in the immediate aftermath of the Lehman Brothers collapse.

Yet, as Arief Wana, head of research for Indonesia at Credit Suisse pointed out: "The stock market is still 15% lower than 1997 despite the surge this year; and trading with a current 2009 estimated price-earnings ratio of 15.2 times and an expected 2010 multiple of 13 times based on forecast earnings of 17%, the market is the third cheapest in the region after Thailand and the Philippines our price-to-book to return-on-equity matrix." Wana predicts that the index will reach 2,700 by the end of next year.

However, there are risks, such as a sudden fall in commodity prices, or market volatility caused by disruptive family-led corporate actions - for instance a repeat of the Bakrie Group-Bumi Resources saga that froze the markets last autumn, when the highly indebted Bakrie desperately clung on to its controlling stake in Bumi despite mortgaging its shares against loans. But perhaps the greatest constraint is that some foreign investors still believe that Indonesia is simply inherently risky.