Indonesia Indonesia Closes the US$3.85 billion Freeport-McMoRan Mine Deal (21 Dec 2018) Indonesia’s state-owned mine company PT Inalum took control of the local unit of Freeport-McMoRan Inc on 21 December, Friday, giving it control of the massive Grasberg copper mine. The deal hands Inalum a 51.23% stake...
Indonesia Jokowi to Double Cash Handouts under PKH (11 Dec) Social Affairs Minister Agus Gumiwan Kartasasmita told reporters that the PKH aid programme would double in scope from US$1.3 billion to US$2.6 billion in 2019. The programme, aimed at 10 million families, will be dispersed in four...
Indonesia 212 Reunion Rally Turns Political (2 Dec) Hundreds of thousands of Indonesian Muslims gathered in Central Jakarta on Sunday, 2 December, to commemorate the second anniversary of widespread protests against Jakarta’s then-governor, Basuki “Ahok” Purnama. The rally also took on a political tone as Islam Defenders...
Indonesia Surprise Rate Hike by Bank Indonesia due to Widening Current Account Deficit (15 Nov) Indonesia’s central bank surprised observers with its sixth rate hike in 2018, bringing its benchmark rate to 6%. Bank Indonesia Governor Perry Warjiyo explained that the hike was aimed at reducing the...
Indonesia GDP Growth – Better than Expected in the Third Quarter, but Dark Clouds Ahead Indonesia’s economy experienced 5.17% year-on-year growth in the third quarter, according to Statistics Indonesia. This is above estimates by agencies such as Reuters. However, economists foresee the growth rate weakening further due...
Indonesia Singapore-Indonesia Bilateral Leaders’ Retreat – Seven Agreements Signed Singaporean and Indonesian leaders signed seven wide ranging agreements during a Bilateral Leaders’ Retreat on 10-11 October. In particular, the bilateral investment treaty aims to protect investors’ interests and reinforce economic ties, while the US$10 billion currency...
Simon Tay For The Business Times PEOPLE now perceive Myanmar very differently compared to just two years ago. In 2016, there was euphoria after the iconic Aung San Suu Kyi's National League for Democracy swept the elections. Myanmar's economic opening, begun under the previous military-backed government, brought...
Country continues to offer tremendous investment opportunities and growth For immediate release SIIA-SGX Myanmar Investment Forum Wednesday, 5 September 2018: Myanmar must be more transparent with the international community, said a leading independent think tank at an investment forum at the Singapore Exchange (SGX). Associate Professor Simon Tay, Chairman...
The National League for Democracy government has ushered in a new Myanmar defined by strong growth fundamentals and a renewed commitment to openness. However, recent spikes in ethnic tensions and the lack of a clear economic policy has created a climate of financial uncertainty, and...
By Simon Tay and Andrea Lee For The Straits Times It seems so long ago that people talked about Myanmar in terms of the triumph of democracy and a “frontier economy” of golden promise. Current headlines about the country instead focus overwhelmingly on a single issue, and...