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    • SingCham is the premier business chamber for Singaporean interests in Indonesia. Founded in 2006, SingCham aims to promote the business interests of individuals or companies operating in Singapore and/or Indonesia. SingCham provides networking activities, events, and useful information for its members, and acts as the liaison between the Singaporean business community and the Singapore and Indonesian governments. With a focus on fostering better networking and feedback among members, SingCham is committed to providing valuable resources and insights to help members connect, learn, and grow their businesses in Indonesia. Join SingCham today and become part of a thriving business community that benefits from exclusive resources, networking opportunities, and business insights.

    12Sep, 2018
    Rupiah weakens slightly on Wednesday

    The rupiah weakened slightly on Wednesday to Rp 14,863 per US dollar, from Rp 14, 835 on Monday, according to Bank Indonesia’s Jakarta Interbank Spot Dollar Rate (JISDOR).

    Samuel Sekuritas Indonesia economist Ahmad Mikail said the weakening trend might continue should the dollar index remain at 95.

    He said the dollar was still in a strong position amid the trade war between the United States and China. “China plans to report the US to the WTO [World Trade Organization] for the US’ plan to increase import tariffs on $200 billion worth of Chinese products,” he added as reported by kontan.co.id

     

    (read more: The Jakarta Post)

    15Aug, 2018
    For the sake of Rupiah, Chevron’s contract will be amended

    ESDM Ministry’s Director General of Oil and Gas (Oil and Gas) Djoko Siswanto said, if possible an amendment was made regarding the production sharing contract (PSC) related to the government’s assignment to Pertamina to buy oil lifting from the KKKS.

    “If you cannot use the regulation, it can work, if it is needed, then the PSC amendment will be done, later it can be added, for example, it had the right to export but prioritized for domestic interest at market price. Staying added like that, the PSC amendment will be completed. “Djoko told the media when met at the ESDM Ministry, Jakarta, Wednesday (8 August).

    He said, there would be an additional lifting potential of 225,000 bpd that could be absorbed by Pertamina. At present, all of Indonesia’s production is 775,000 bpd, and Pertamina currently uses 550,000 bpd.

    “775,000 bpd is reduced to 550,000 bpd which is exported,” added Djoko.

    Furthermore, Djoko explained, at this time he was writing to all existing KKKS with three groups, namely those who had contracted with outside buyers, who had tender with Pertamina but Pertamina lost the tender, and the group that offered the right to match, then he joined the auction , and become the winner of the auction.

    15Aug, 2018
    Impact of Turkish currency dropping, Erdogan threatens boycott iPhone

    Turkish President Racep Tayyip Erdogan threatened to boycott electronic products made in the United States, including one of the iPhones.

    The threat was conveyed by Erdogan in his speech on Tuesday (August 14). Steps to boycott US products were made in retaliation for sanctions imposed on the detention of an American pastor, as well as to encourage the Lira currency which was at its lowest level.

    As an alternative, this 64-year-old man said he would use goods made in the country or Apple’s competing companies in Asia.

    (read more: CNN)

    14Aug, 2018
    As emerging markets take a battering from Turkey’s turmoil, traders are positioning themselves to ride out the pain.

    As emerging markets take a battering from Turkey’s turmoil, sending stocks and bonds toward their lowest this year, traders are positioning themselves to ride out the pain.

    Traders pushed down the value of emerging market assets Monday as Turkish assets sank, before stabilizing on Tuesday. The carnage in Turkey added to an already fragile landscape amid tensions between the U.S. and other major economies such as Russia and China. While some investors say bargains are already emerging, others bet the best option is to sell stocks and bonds and put their money into cash.

    Here’s what analysts and investors are saying:

    Kevin Daly, a money manager at Aberdeen Standard Investments in London:

    • The almost-$800 billion investment group sold some emerging-market holdings on Monday to increase its cash positions.
    • Daly sees few signs the Turkish rout will end soon and says emerging markets as a whole could be in for further pain.
    • “Playing a market like this is difficult,” he said. “There aren’t any obvious safe zones.”

    (read more: Bloomberg)

    13Aug, 2018
    Turkish lira plunges to new record low in Asia Pacific trade

    The Turkish lira sank to a fresh record low of 7.24 to the dollar in early Asia Pacific trade, as investor worries over the state of the economy and deteriorating ties with the United States continued to drag down the currency.

    By 1903 GMT on Sunday – early Monday morning in the Asia Pacific – the lira TRYTOM=D3 was at 7.06 against the dollar, after touching 7.24 earlier.

    The Turkish lira has lost about 40 percent of its value this year, largely over worries about President Tayyip Erdogan’s influence over the economy, his repeated calls for lower interest rates in the face of high inflation, and a row with the United States.

    (source: Reuters)

    9Aug, 2018
    Rupiah is prone to falling due to the strengthening of the US dollar

    The rupiah exchange rate was opened at the position of Rp14,432 per US dollar (US) in today’s spot market trading, Thursday (9/8). This position strengthened from the close on Wednesday (8/8) which was at the level of Rp14,439 per US dollar.

    In line with the rupiah, the majority of currencies in the Asian region also strengthened before the US dollar. The Japanese yen strengthened 0.16 percent, Thai baht 0.22 percent, South Korean won 0.10 percent, and Malaysian ringgit 0.01 percent.

    Despite strengthening, Senior CSA Research Institute Analyst Reza Priyambada said that rupiah movements were still vulnerable.

    The rupiah is vulnerable to falling due to the weakening of China’s renminbi and euro Europe yesterday. The weakening of the renminbi and euro is expected to make the US dollar move in the green zone.

    Renmimbi China weakened amid plans by the government of the Bamboo Curtain State to reply to import duties on US products.

    While the European euro weakened due to continued discussion of the UK’s exit from the European Union (Britain Exit / Brexit).

    “Again, it is appreciated that the US dollar can withstand the possibility of the rupiah to be able to move positively. Even market participants will take advantage of these conditions by increasing demand for the US dollar,” he said.

    For this reason, in order to sustain the strengthening of the rupiah which is more durable, support is needed from internal sentiment. Unfortunately, internal sentiment is still minimal, after the Central Statistics Agency (BPS) released economic growth figures last Monday.

    (Source: CNN Indonesia)