At least nine hotels in Batam, Riau Islands, are suspending operations at the end of March amid the lack of visitors following lockdowns imposed in major tourism markets, such as Singapore and Malaysia. According to the Statistic Bureau of Statistics (BPS), the occupancy of star-rated hotels in Indo... [read more]

Due to Covid-19 pandemic, foreign tourist visits, which usually increase in January-February period was significantly declining and is estimated to further decline in March 2020. The Central Bureau of Statistics (BPS) reported that the number of foreign tourist visits in February was at 885,100 visi... [read more]

Indonesia’s banking industry is more robust than in the previous crisis as the Capital Adequacy Ratio/CAR is recorded at 23% and default loan in normal threshold. Moreover, the government has provided additional funding of Rp150 trillion in the 2020 State Budget as a cushion for the financial indust... [read more]

Amidst the Corona pandemic, Ciputra Group recorded a positive performance in its warehouse business named Bizpark Commercal Estate. Currently, Ciputra has developed warehouse businesses comprising Bizpark Banjarmasin, Bizpark Penggilingan Jakarta, Bizpark Pulogadung Jakarta, Bizpark Palembang, Bizpa... [read more]

PT Lippo Karawaci Tbk has taken initiative steps to mitigate the market uncertainty amidst the Covid-19 pandemic, including cost efficiency to lower operational costs by reducing operational hours in its various malls and hotels chains in 2020 fiscal year and by cutting its expenditure capital and w... [read more]