Should Investors Worried About New Bank Ownership Rules?

Indonesia will issue new rules on bank ownership next month that may jeopardize a US$7.3 billion (RM22 billion) bid by Singapore's DBS Group to buy a local lender, the latest policy shift to worry investors.

Indonesia's central bank first proposed rules to cap bank ownership last year and temporarily barred takeovers in the sector before the DBS bid to buy Bank Danamon this month stoked nationalist opposition by anxious local rivals.

The bank said it will review plans to acquire all of Danamon after the new rules are issued in late May.

The takeover, if allowed, will be Indonesia's largest foreign takeover and Asia's fourth-biggest banking deal.

"This will have a negative impact in the short term on Indonesian banking stocks as well as M&A (merger and acquisition) deals in that sector," said Winston Sual, chief executive of Jakarta-based PT Panin Asset Management.

Central bank governor Darmin Nasution said the rules will still allow investors to have majority ownership in Indonesian banks. Indonesia currently allows foreigners to own up to 99 per cent.

The central bank previously said it wants equal access for Indonesian lenders to expand in Singapore and getting that will be a factor in its decision on whether to approve the DBS move to buy Danamon from Singapore state investor Temasek.

Some Indonesian bankers have said they would try to block the DBS deal and were considering a media campaign targeting public opinion in the hope of influencing politicians. source: BTimes

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Indonesian Embassy Has Repatriated Workers in Jordan

 

Director of Information and Media Ministry of Foreign Affairs said PLE Priatna Embassy in Amman, Jordan, repatriates 33 Indonesian labor problems. Repatriation of workers is done through three waves.

The first two waves on March 3 and March 4, 2012, each as many as 13 people and 11 people. Meanwhile, the third wave 9 migrants repatriate foreign ministry on March 13, 2012. According Priatna, by March 1, 2012, Embassy Amman to accommodate about 332 workers who ask for protection. Embassy in Amman and the Foreign Ministry continues to resolve the problematic cases of migrant workers.

"The main obstacle faced by the Embassy in Amman is kafalah system prevailing in Jordan and the Middle East in general. Before issuing an exit permit to migrant workers, Jordan’s immigration will check to the service user / employer. If the employer does not give permission for one reason or Another thing, then exit permit will not be issued, so the workers will be held at the Embassy, ​​"said Priatna to Kompas.com through a press release on Sunday (03/04/2012).

Problems faced by the Indonesian Embassy in the Middle East, continued Priatna, is that many service users / employers who hold the workers by reasoning that the contract has not been completed. "The team from Jakarta embassy and met repeatedly with the relevant parties in Jordan to tackle the problem, but the number of migrants coming into the shelter in the embassy quite a lot, while the settlement process takes a long time," said Priatna.

Throughout 2011, the Indonesian Embassy in Amman has been accommodating, repatriate, and completed 599 cases of Indonesian workers’ problems. These problems, among others, relating to torture, sexual abuse, years of service exceeds / is less than the contract period, iqamah / residence permit is expired and not renewed by employers, health problems and others.

"From the 332 workers who asked for protection to the Embassy, ​​200 of them are those that come after the moratorium applied to Jordan on July 29, 2010. They were sent by PPTKIS and irresponsible individuals. To overcome the this problem, the need for decisive action by the competent authority to such parties, "said Priatna. source: Kompas

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So Funny That RIM Doesn’t Build Its Factory in Indonesia

Some funny facts about BlackBerry and Indonesia. According to the latest report, Research In Motion (RIM) has sold about 6 million units BlackBerry in Indonesia alone, but there is no Jakarta Time Zone on its system, while we can find the time zone for Bangkok and Singapore. That was stated by Gita Wirjawan, the Head of Indonesian Investment Coordinating Board last month.

Funnier still, Gita continued, Research In Motion (RIM) Blackberry as the producer can not build a factory in Indonesia. Though Indonesia is one of the biggest market for RIM. Gita went on last year's financial statements showed that the RIM Blackberry sales reached $20 billion.The Funny BlackBerry

This year, RIM plans to sell 4-5 million units in Indonesia. If the price per unit worth 300-400 dollars, the total turnover of sales in Indonesia will be about 2 billion dollars or 10 percent of its total global sales.

"Is not that funny, if Indonesia is to provide exceptional prosperity in the context of 10 percent of RIM’s total sales, but there is no time zone for Jakarta, and there is no interest for the RIM to build factories here, (but) it is in our neighboring countries. This must be addressed, "says Gita. source: Kompas

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An American Girl Changed Kalla’s View on Economy

Indonesian former Vice President – Jusuf Kalla said, a girl in Seattle, United States, had changed her view toward economy. It happened a few years ago when he was Indonesian trade minister who led a delegation to the World Trade Organization meeting in Seattle.

"At that time there were demonstrations in the United States. We went to the convention through the streets of mice. All students and activists blockaded the main street. Then I saw that girl, who was the field coordinator. I talked to her. I introduced myself and I asked, why they do the demonstration," Kalla said.

The girl explained that the demonstrations were actually aimed at the free trade regime that afflict society in any country and only brought benefit for a small number of capitalists.

The girl, Kalla continued, took a shirt for an example. Indonesia exported those shirts at a price of $15, those same shirts were sold in the United States at a price of $90.

"Where is the 75 dollars? That is eaten by the capitalists. The people of Indonesia are squeezed, so are the people of the United States. The profit only goes to a few people," said Kalla.

source and image credit: Kompas

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Indonesia Theme Park

Indonesia Theme Parks | Spending your holiday in Indonesia is now more exciting. It is easier to find tourism spots to visit. Your whole family will enjoy great experience here. From zoo's and safari parks that housing exotic animals to theme parks with roller coasters to pump your blood and adrenaline to the head, Indonesia has attractions galore to keep you and your family entertained and excited.

Here are the list of some Indonesia theme parks you can visit.

  • Ancol. This is Jakarta's largest and most popular recreation park, more popularly known as "Ancol Dreamland". The Ancol Dreamland has an extensive range of attractions that include a Seaworld,  a water park with artificial waves, an  lagoon... read more…
  • Bali Bird Park. Find yourself at the Bali Bird Park to witness the largest and finest collection of Indonesian birds in the world plus fantastic birds from Africa & South America.Encompassing two hectares of botanical landscape, the park provides sanctuary to... read more >>

  • Bogor Botanical Gardens. Just 60 km south, or a mere one hour by road from Jakarta lies the town of Bogor, once known as “Buitenzorg” meaning “free of care”, located at the foothills of Mt. Salak. It has a high, year-round rainfall and a much cooler... read more >>

  • Coastarina. Coastarina is located in Pasir Putih, Batam Center, Batam, Kepulauan Riau.  It is a new tourist destination recently inaugurated by President Susilo Bambang Yudhoyono in early 2009.  Coastarina has complete facilities for tourists. read more >>

  • Kumala Island Tourism Park. Kumala island is situated in the middle of Mahakam River, passing Tenggarong city, in Kutai Kartanegara district. At first, this 85 hectare island was a sedimentation of mud, forming a land. This island is unique as it looks like a boat in the middle... read more >>

  • Taman Mini Indonesia Indah. Taman Mini Indonesia Indah or Beautiful Indonesia in Miniature Park is an extensive culture-based park, the prime showcase of Indonesia’s rich cultural and natural diversity located in East Jakarta. Popularly known as Taman Mini, the core of... read more >>

  • Taman Safari. If you like to observe wild animals like tigers, lions and crocodiles in their native habitat, then Taman Safari Indonesia is just for you. Taman Safari Indonesia or the Indonesian Safari Park is a conservation center as well as a modern zoological... read more >>

  • Teritip Crocodile Breeding Center. Teritip is a breeding center with the highest number of crocodiles in East Kalimantan. At present, more than 1,450 crocodiles, ranging from estuary crocodiles (Crocodylus porosus), and two endangered species i.e., fresh water crocodiles read more >>

  • The Schmutzer Primate Centre. The Schmutzer Primate Center is one of the largest in the world and houses many different primate species amongst which gorillas, chimpanzees and orangutans. The facilities are designed in innovative ways where the animals can decide whether to be... read more >>

  • Tlogo Plantation. Tlogo Plantation has cool air and beautiful view with various plantation such as coffee, rubber, nutmeg and cloves. It is located 6 kms or only 10 minutes drive from The Ambarawa Railway Museum. read more >>

  • Waterbom Jakarta. Waterboom Jakarta is now open as the leading water park and recreation destination in Jakarta. Located at Pantai Indah Kapuk in North Jakarta, next to the Damai Indah Golf Course, it covers an area of about 35,000 m2 plus a parking area that can... read more >>

  • There are some other best Indonesia Theme Park beside those we have listed here. In case you need the updated list, please don’t hesitate to subscribe.
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Indonesia Released Australian Teen Convicted of Marijuana Possession

The Australian teen imprisoned of marijuana ownership on the resort island of Bali after the boy spent two months in imprisonment finally released on Sunday. The 14-year-old was sentenced in late November to two months for marijuana use in a case that has drawn international attention. The sentence included time already served.

He will leave Indonesia and will be blacklisted from re-entering the nation for six months. After he has arrested in October, the teen was moved from a prison to an immigration center because the latter is more suitable for a teenager, a local prosecutor said.

Authorities arrested him while he was on holiday with his parents in Bali. After the arrest, the boy's attorney, Mohammad Rifan, said he had hoped to avoid a prison sentence and have him released to undergo drug rehabilitation.

Indonesia's drug laws are among the strictest in the world. But they have a provision, article 128, under which those arrested with small amounts of drugs can be released to rehabilitation if they can prove they are an addict. In the case of underage offenders, that requires a declaration from the youth's parents, officials have said.

Visitors to the country are warned on arrival that some drug crimes carry a determined penalty of death. Still, many have been arrested and convicted for various drug offenses. Two Australians are on death row in a Bali prison while six others are serving life sentences.

source: CNN

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70 US Soldiers Work in Freeport, Is It?

70 US Soldiers Work in Freeport, is that true? The possibility that this statement is correct is as big as our mislead mind about rumors like this. The news itself was initially brought into media by Ali Kastela, member of the House Commission VII from Hanura political party, declared that there are around 70 US soldiers work in PT Freeport Indonesia, subsidiary of Freeport McMoRan (FCX).

Ali claimed that he came up with the fact after his working visit to the Grasberg gold mine in Papua. “There are 70 active US soldiers working in Freeport,” said Ali, as quoted by Detikcom.

His statement was reasserted by Jimmy J, Vice Chairman of Papua Regional Council. Jimmy, however, cannot remember when the soldiers start working there.

Tjahjo Kumolo, member of Commission I of The House from PDI-P, called into question the information and stated that his commission, oversees military and international affairs, has never received such information.

“Commission I never received the information, either from national army commander, defense ministry, or state intelligence body.”

Djoko Suyanto, coordinating minister of politic, law, and security, confirmed the information, but he added that they are retirees from US troops. “There are some retirees (army) that worked in Freeport, which were hired through a proper recruitment phase like others civilians,” said Joko.

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source: http://www.theindonesiatoday.com
image credit: http://militaryphotos.net

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