Telekomunikasi Indonesia (Telkom), Indonesia's largest telecommunication and network provider, is seeking to tap the lucrative mobile phone market in Myanmar, where the mobile penetration rate currently stands at five percent only. The company joined a tender through which it aims to obtain a mobile operator license from the Myanmar government. However, Myanmar prefers companies that already have a large international customer-base.
10 May 2022 (closed)
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The Today's Headlines section of Indonesia Investments is a daily updated section which contains the latest information with regard to topics that are currently causing headlines in Indonesia's media. Most of our headlines will cover political, economic and social matters. As a consequence of their recent nature, these topics may not have crystallized fully yet and can, therefore, lack a profound analysis. For publications with a more in-depth understanding of subjects, we refer you to our News, Financial or Business columns.
Vale Indonesia, Indonesia's largest nickel producer, posted an 80 percent decline in net income compared to 2011. Net income in 2012 totaled US $67.5, significantly down from US $333.8 in 2011. Main reasons for this poor performance were weakened metal and nickel markets due to global economic turmoil, which resulted in lower prices. Its average realized price per metric ton went down 26 percent, while operating costs increased 10 percent.
Indonesia's trade deficit narrowed slightly in January as there has been better demand from developed countries. However, Indonesian exports remain under pressure with persistent weak global demand. Moreover, higher crude oil prices increase the country's import costs. In addition to Indonesia's trade deficit, annual inflation increased to 5.31 percent in February due to rising food prices and higher electricity tariffs.
Semen Indonesia, Indonesia's largest cement producer, reported net profit of IDR 4.93 trillion (US $510.9 million) in 2012, a 24.6 percent increase compared to its performance in 2011. Earnings per share increased to IDR 817 from a previous IDR 662. The company benefits of significantly increased cement consumption in Southeast Asia's largest economy. Domestic cement consumption grew 14.4 percent, to 54.9 million tons in 2012.