MondayFiled under Asia News, Southeast Asia, Business & Politics
Indonesia’s petrol-price hike could put the brakes on the speed at which consumers in Southeast Asia’s biggest auto market buy cars and switch to four-wheels from two.
President Joko Widodo last week cut subsidies and raised gasoline prices more than 30 percent to open the way for budget and other reforms.
In the long-term, the change should strengthen the Indonesian economy, now growing at its slowest pace in five years. In the short-run, it may impact auto sales.
Next year “car sales probably won’t grow,” said Leonardo Henry Gavaza, a senior research manager at Bahana Securities. “Motorbike sales will be more resilient.”
Growth rates have been declining since 2010’s stunning 58 percent rise. January-October saw only a 1.8 percent increase for a year earlier, reflecting how annual economic growth has slipped to 5 percent.
All entries filed under Business & Politics
- Posted 01.28.13
Appointment of New Chief Executive, ACRA with effect from 1 February 2013 1. The Minister for Finance has appointed Mr Kenneth Yap Yew Choh as the new Chief Executive (CE) of the Accounting and Corporate Regulatory Authority (ACRA) with effect from 1 February 2013. He will also be appointed as a board member to the ACRA […]
- Posted 01.19.13
A Thai billionaire early Saturday raised his bid for Singapore’s Fraser and Neave (F&N), topping an offer by an Indonesian rival ahead of a planned auction of the conglomerate next week. In a press release issued at midnight, TCC Assets — controlled by Thai billionaire Charoen Sirivadhanabhakdi — said it was increasing its offer for […]
- Posted 12.12.12
The oil and gas upstream industry has the same characteristics everywhere — it has connections to investment, technology and is very high risk — including in Indonesia. As a result the industry is highly sensitive to the “3Cs” — clarity, consistency and certainty. This was indicated by the new president of the Indonesian Petroleum Association (IPA), Lukman Mahfoedz, recently.
- Posted 06.23.12
There are some people who believe that the Workers’ Party’s (WP) win in the Hougang by-election is a “personal result” of its chief Low Thia Khiang, but those who hold this view “fail to understand the people of Hougang”, said Mr Low on Thursday night. “While it is true that I know a lot of […]