President Susilo Bambang Yudhoyono will sign a decree this week easing restrictions on foreign investment in 40 sectors of the domestic economy, Investment Coordinating Board Chairman Gita Wirjawan announced on Monday.
“I guarantee you it will be out this coming week,” Gita said in an interview at the World Economic Forum in Ho Chi Minh City. “I was with the president. It was on top of the deck on his table. He said he would sign it in a day or two.”
The decree would ease some restrictions in the country’s so-called negative investment list (DNI), which limits foreign ownership in companies in some sectors.
Health care and education are among the industries in which increased foreign investment will be permitted, Gita said. A 2007 presidential decree was “a little bit confusing” and subject to multiple interpretations, he said.
“This one takes a completely sectoral approach to the extent that foreign investors know the extent to which they can invest in any particular sector, whether it’s education, agriculture, logistics, or the creative industries,” he said. “We have decided to liberalize 40 sectors.”
In March, Gita said the government planned to unlock more sectors of its economy to overseas investors, but would not allow foreign investment in telecommunication towers. There has been fierce resistance from local stakeholders to proposals to open up multi¬billion-dollar investment in such areas as base towers for mobile phones.
In health care, foreign investors would be allowed to own up to 67 percent of hospitals across the country, he said. Previously, foreign ownership in hospitals had been restricted to a few cities such as Surabaya and Medan.
Foreign companies will also be allowed to have a maximum ownership of 49 percent in plantations producing staple foods such as rice, as well as cargo services and film businesses, Gita said.
Bloomberg & Reuters
Source:
http://www.thejakartaglobe.com/business/sby-decree-to-relax-investment-limits/379272
Senin, 07 Juni 2010
150 Richest Indonesians Total Net-Worth $61.5 Billion
Indonesia’s 150 richest people did very well last year. Their total net-worth rose 22 percent to 61.5 billion, which represents 12 percent of indonesia’s gross domestic product.In this year’s Globe Asia’s 150 richest Indonesians issue, those who did the best were the tycoons who were able to unlock the values of their assets.
Tycoons such as Peter Sondakh of the Rajawali group increased their net-worths by selling significant stakes in their companies. Sondakh sold his 20 percent stake in Semen Gresik and his stake in cigarette maker Bentoel for a combined total of nearly $700 million.
Others such as Aburizal Bakrie and Chairul Tanjung increased their net-worths by acquiring stakes in other companies or listing parts of their companies.
Tanjung, in one of the most aggressive corporate moves this year, acquired a 40 percent stake in French retailer Carrefour for around $350 million, raising the funds by borrowing heavily but getting preferential interest rates.
Djarum owner Budi Hartono increased his fortune by $700 million, largely due to the rising stock price of Bank Central Asia and the profits from his cigarette business.
With an economy growing at above 5% per annum, the majority of the rich listers were able to increase their fortunes.
The average net-worth of the Globe Asia rich lister was $400 million. If the 150 richest Indonesians gave away all their wealth, each Indonesian would receive around $256.
Budi Hartono would be able to buy 19,747 boeing aircraft with his fortune of $4.8 billion.
If the economy continues to grow and if the markets turn positive again, investment bankers expect more mergers and acquisitions amongst the big tycoons in the next 12 months.
"This was achieved primarily because over the past 12 months, a perfect confluence of factors have come together to produce conditions for wealth creation that may be unprecedented. The Indonesian rupiah has strengthened by nearly 10 percent while the stock market has risen by more than 60 percent and commodity prices have remained strong," the magazine said in a statement.
"The Indonesian stock market has been one of the best performers in the region, boosted by strong commodity prices and foreign funds inflow. The Indonesian Stock Exchange Composite Index has risen from 1,751 on May 15, 2009 to 2,800 this year. It reached a high of 2,971at the end of April, which is the date Globe Asia used as the cut off point and before the stock market fell sharply."
The list profiles 150 of the richest Indonesians as well as their respective heirs to their thrones. The magazine hits newsstands on Monday.
Here are the top ten listers:
1. Budi Hartono (Djarum)
2. Eka Tjipta Widjaja (Sinar Mas)
3. Anthony Salim (Salim Group)
4. Aburizal Bakrie (Bakrie Group)
5. Martua Sitorus ( Wilmar International Holding)
6. Putera Sampoerna (Sampoerna Capital)
7. Sukanto Tanoto (Royal Golden Eagle)
8. Dato Low Tuck Kwong (Bayan Resources)
9. Peter Sondakh (Rajawali Group)
10. Eddy William Katuari (Wings Group)
Source:
http://www.globeasia.com/index.php?option=com_content&view=article&id=55:150-richest-indonesians-total-net-worth-615-billion&catid=22:features
Tycoons such as Peter Sondakh of the Rajawali group increased their net-worths by selling significant stakes in their companies. Sondakh sold his 20 percent stake in Semen Gresik and his stake in cigarette maker Bentoel for a combined total of nearly $700 million.
Others such as Aburizal Bakrie and Chairul Tanjung increased their net-worths by acquiring stakes in other companies or listing parts of their companies.
Tanjung, in one of the most aggressive corporate moves this year, acquired a 40 percent stake in French retailer Carrefour for around $350 million, raising the funds by borrowing heavily but getting preferential interest rates.
Djarum owner Budi Hartono increased his fortune by $700 million, largely due to the rising stock price of Bank Central Asia and the profits from his cigarette business.
With an economy growing at above 5% per annum, the majority of the rich listers were able to increase their fortunes.
The average net-worth of the Globe Asia rich lister was $400 million. If the 150 richest Indonesians gave away all their wealth, each Indonesian would receive around $256.
Budi Hartono would be able to buy 19,747 boeing aircraft with his fortune of $4.8 billion.
If the economy continues to grow and if the markets turn positive again, investment bankers expect more mergers and acquisitions amongst the big tycoons in the next 12 months.
"This was achieved primarily because over the past 12 months, a perfect confluence of factors have come together to produce conditions for wealth creation that may be unprecedented. The Indonesian rupiah has strengthened by nearly 10 percent while the stock market has risen by more than 60 percent and commodity prices have remained strong," the magazine said in a statement.
"The Indonesian stock market has been one of the best performers in the region, boosted by strong commodity prices and foreign funds inflow. The Indonesian Stock Exchange Composite Index has risen from 1,751 on May 15, 2009 to 2,800 this year. It reached a high of 2,971at the end of April, which is the date Globe Asia used as the cut off point and before the stock market fell sharply."
The list profiles 150 of the richest Indonesians as well as their respective heirs to their thrones. The magazine hits newsstands on Monday.
Here are the top ten listers:
1. Budi Hartono (Djarum)
2. Eka Tjipta Widjaja (Sinar Mas)
3. Anthony Salim (Salim Group)
4. Aburizal Bakrie (Bakrie Group)
5. Martua Sitorus ( Wilmar International Holding)
6. Putera Sampoerna (Sampoerna Capital)
7. Sukanto Tanoto (Royal Golden Eagle)
8. Dato Low Tuck Kwong (Bayan Resources)
9. Peter Sondakh (Rajawali Group)
10. Eddy William Katuari (Wings Group)
Source:
http://www.globeasia.com/index.php?option=com_content&view=article&id=55:150-richest-indonesians-total-net-worth-615-billion&catid=22:features
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