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Today's Headlines Fish
Seafood company Kelola Mina Laut Group (KML Group), which is primarily engaged in the processing and marketing of fish products, is set to conduct an initial public offering (IPO) on the Indonesia Stock Exchange in 2018. Mohammad Nadjikh, President Director of the KML Group, said the IPO will most likely be held in the first half of 2018. The company is eager to collect new funds for further business expansion.
Susi Pudjiastuti, Indonesia's Minister of Maritime Affairs and Fisheries, informed that still not all fishery products that are captured in Indonesian seas and waters are reported to the government. For example, in 2015 only 6 million tons of captured fish were reported to authorities, while it is estimated that production in fact reached 7.4 million tons, implying a 18 percent difference between "legal" and "illegal" fisheries production in Indonesia. In fact, Indonesia's Maritime Affairs and Fisheries Ministry believes the figure is much higher.
Indonesia has become one of the largest - if not the largest - tuna producing countries around the globe. It is estimated that Indonesia supplies about one million tons of the saltwater finfish per year or 16 percent of the world's total tuna supply. As such, the tuna fishing industry has become a vital component of Indonesia's fishing industry and an increasingly important foreign exchange earner within the overall economy. Susi Pudjiastuti, Minister of Maritime and Fisheries, is confident that Indonesia will enhance its key role in the world's tuna industry.
Ever since Indonesian President Joko Widodo appointed Susi Pudjiastuti as Indonesia's Minister of Maritime Affairs in October 2014, this ministry has received plenty of attention from the media. When appointed, media were skeptical about Pudjiastuti, a businesswoman who is regarded eccentric for being a divorce, having a tattoo and being a smoker. However, she has survived cabinet reshuffles, turned into a media darling, and - most importantly - Indonesia's fishery sector has grown strongly under her leadership.
Due to the Indonesian government's push to develop the nation's maritime sector, the initial public offering (IPO) of Dua Putra Utama Makmur, an Indonesian integrated fishery, marine product processing and cold storage company, was oversubscribed 1.5 times. I Made Satyaguna, Head of Investor Relations at Dua Putra Utama Makmur, said the company's target of raising IDR 921 billion (approx. USD $67 million) through the IPO has been achieved. More than 90 percent of investors are pension funds.
Coremap, a project supported by the World Bank, aims to revive Indonesia’s coral reefs in an effort to improve the welfare of coastal communities in Indonesia. By rehabilitating coral reefs, the country’s fish population, vital to the livelihoods of local communities, can expand. Moreover, the rehabilitation of coral reefs entails better opportunities in the (eco)tourism sector as it will attract underwater tourism. As such, new small businesses can be established in the coastal areas.
The Indonesian government and the Netherlands-based Wageningen University and Research Center will cooperate in a new bilateral fisheries and aquaculture project. This project, called 'Project for Fisheries and Aquaculture for Food Security in Indonesia' aims to enhance food security and reduce malnutrition in Indonesia through increasing the availability of various fish products on Indonesia's domestic market. The Netherlands and Indonesia together contribute 9 million euro to finance the project.
The Indonesian government has revised its export target for fishery products in 2014 to USD $5.1 billion from USD $5.65 billion. This downward revision has been decided because several export markets, including the United States and Europe, still experience difficulties on their path towards economic recovery, thereby reducing demand for Indonesian fishery products. Although revised, the new target is still much higher than export realization in 2013 when USD $4.2 billion worth of fishery products were exported from Indonesia.
Contrary to what most analysts expected, Indonesia experienced deflation of 0.35 percent in September 2013. The figure was released today (01/10) by Statistics Indonesia. Deflation was particularly triggered by easing food prices (including onions, peppers, beef, fresh fish and carrot) and lower tariffs for air and train transportation as well as inter-city transport fares. Previously, it was expected that Indonesia would record low inflation (less than 1 percent) in September. Year-on-year inflation eased to 8.40 percent (from 8.79 in August).
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