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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.

    19Jul, 2018
    Do not hesitate to submit a complaint: Indonesian finance minister
    Sri Mulyani Indrawati. (photo: Wikimedia Commons)

    Business actors who feel unfairly treated by the tax authorities are welcome to make a report.

    “If there is a complaint, do not hesitate, the government is present for the community, for the business world, if there is a tax officer doing harassment or something unfair, report,” said Finance Minister Sri Mulyani Indrawati when delivering speech at the 10th anniversary of Adaro IPO in Jakarta, Monday (16/7).

    Finance Minister praises Adaro as one of the best taxpayers. In fiscal year 2017, Adaro earned a windfall profit from coal price increases voluntarily submitting its obligations to the government to pay taxes and royalties.

    “One of the reasons I came to this event was Adaro’s good performance in tax payments,” said Sri Muyani.

    Minister of Finance also appealed to companies operating in Indonesia to maintain the condition of the balance sheet and hope that the condition can also be met by the management of PT Adaro Energy Tbk (ADRO). Moreover, this private company is one of the big taxpayers in Indonesia.

    “I am sure, if all companies (in Indonesia) are well managed, we as the government can maintain and support properly,” said Sri Mulyani.

     

    (Source: Investor Daily)

    3Jul, 2018
    Bank Indonesia Home Monetary Leeway Helps Growth?

    Bank Indonesia (BI) predicts a relaxation loan to value (LTV) policy can contribute 0.04% to gross domestic product (GDP) until the end of the year. Meanwhile, the government is targeting for 2018 economic growth to reach 5.4%.

    “This LTV leeway can contribute as much as 0.04% to GDP,” said Assistant Governor Head of Makroprudential Policies Department Filianingsih Hendarta to the media when found in the BI Building, Jakarta, Monday (2/7/2018).

    Furthermore, Filianingsih also mentioned, until December 2018, with this LTV relaxation, BI estimates mortgage growth will be 13.46% -14%, from 12.75% position in May 2018. As for the overall credit growth, until the end of the year BI is still optimistic in the figure of 10% -12%.

    Previously, BI has relaxed the terms of down payment of home ownership loans through LTV relaxation. This policy will be effective as of 1st of August 2018.

    One of the central bank policies set forth in the regulation, is the freedom of banks to determine the minimum amount of down payment to be paid for home ownership, so as to allow zero percent cost for the first buyer without excluding any amount of land or building.

    “We are giving the first time buyer, not DP zero percent,” said BI Deputy Governor Erwin Rijanto, Friday (29/6/2018).

    Source: CNBC Indonesia