The Coordinating Minister of Economic Affairs, Airlangga Hartarto, estimates Indonesia’s economy in the second quarter of 2020 to contract due to the Covid-19 crisis. However, the government aims to achieve 0.5%-3% growth by the end of 2020 and 2.97% in the first quarter. Moreover, the International... [read more]

Indonesian Payment Balance (NPI) for the second quarter of 2020 is predicted to be better than in the first quarter when deficit was recorded at US$8.54 billion, in line with the growth of foreign exchange reserve (cadev) as of May 2020. The reserve in May 2020 grew US2.62 billion to US$130.5 billio... [read more]

PT Sinar Graha Agung plans to develop residential after previously acquired two landbanks in Cikeas, Bogor of 15 hectares and in Cikembang, Sukabumi of 4.8 hectares. On this two landbanks, the company plans to launch housing products. For landbank in Cikeas, it will aim the middle upper segment with... [read more]

PT PP Properti Tbk recorded its revenue during January-March 2020 period declined by 16.53% year on year (YoY) to R357.91 billion and net profit declined to Rp26.39 billion. The subsidiary of PT Pembangunan Perumahan (Persero) Tbk plans to evaluate its performance target for 2020 from Rp3.1 trillion... [read more]

The Central Bureau of Statistics (BPS) reported that foreign visits dropped 87.44% year on year (YoY) in April, the lowest record as Covid-19 pandemic hits air travel hard. In April, foreign tourist visits reached 160,000, unseen in history as countries around the world imposed different degrees of... [read more]