Minister of Finance expects the fiscal position to REMAIN safe without Subsidized fuel price hike. The fiscal deficit as of July recorded IDR 68 trillion or 0.68% of GDP, still far from the target IDR 241,5 trillion or 2.4% of GDP. The surge in government spending is predicted to occur in November and December.
In the calculation of the Ministry of Finance, the increase in fuel price of Rp 1,000 per liter and 3,000 rupiah per liter in November can save subsidies amounting to IDR 7 trillion and IDR 21 trillion.
If the fuel price increased 1,000 per liter in January 2015, significant savings rose to IDR 48 trillion, assuming there are as many as 48 million kilo liters subsidy quota. In terms of the consumer price index (CPI) rise in fuel prices per liter Rp.1000 will add inflation by 1,5ppt. (Koran Tempo)
Ciputra-Trisula to invest IDR 5 trillion for superblock project. PT Ciputra Property Tbk (CTRP, Rp 740) with Trisula Group plans to develop an area of 7.4 hectare superblock on Puri land area, West Jakarta, with a total investment of IDR 5 trillion. The project will be divided into three phases over a period of 7 years.
Development of the first phase, which includes two office towers, one apartment, will cost 1.5 trillion and will be completed within 3 years. Trisula will account for 45% of total funding while the CTRP will cover the rest. (Bisnis Indonesia)
Ciputra Group intends to hold an IPO on the Singapore Exchange in th next 2 years. The company that will be listed are the International City Holdings Pte Ltd, to work on overseas property business. (Kontan)
PT Telekomunikasi Indonesia Tbk (Telkom, TLKM, Rp2.725, BUY, TP Rp2.900) to explore option of divesting 20% stake in Telkom Sigma. TLKM still exploring the options to divest 20% stake in Telkom Sigma, which provides data center services. Based on information from the company, the action targeting prospective new partners to grow the business. (Investor Daily)
for Indonesia Market Summaries 4 September 2014
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