[Kabar-indonesia] 23 RI Biz/Econ Reports: No Price "Turbulence" in July; 12.25% SBIs; Danamon

[JoyoNews at aol.com]

23 reports:

- Indonesia Q2 GDP growth seen higher than
     Q1 rise of 4.59 pct - statistics bureau
- Indonesia Statistician: No Price
    "Turbulence" In July
- Indonesia Sampoerna gets OK for
     2.8 trln rph factory
- Bank Indonesia awards 51.45 trln rupiah
    1-mth SBIs at fixed rate 12.25 pct
- Khazanah may need to re-look equity 
    structure of Indon banks
- Indonesia's major banks report poorer
    H1 performance
- Indonesia Min: Japan Partnership 
    Talks To Finish End '06
- Japan's Daihatsu Q1 net profit rises 
  5 pct; sticks to FY outlook
- Stock alert - Indonesia's Bank Danamon
    lower after weak H1 results
- Indonesia's Fajar Surya H1 net profit
    77.97 bln rupiah vs loss 372.81 mln
- Indonesia's Matahari posts 17% increase
    in sales to US$366.6 mln
- Indonesia's Hero Supermarket H1 
  net profit 13.91 bln rupiah vs 18.95 bln
- Indonesia's Suparma H1 net profit
   22.33 bln rupiah vs 5.20 bln
- Indonesia's Jiwasraya sees premium
    income hit 61% of target
- Mandom Indonesia posts 17.1%
   increase in net profit
- Indonesia's foreign investors seek
    fairer severance pay rules
- Indonesia eyes tourism potential of
    Australia's North
- Indonesia to revise forestry regulations to
    empower community
- Stockwatch - Indonesia's Astra Agro 
  sharply higher on CPO price prospects
- Indonesia palm oil eases on rupiah,
    weakening Malaysia gains
- Indonesia, Singapore to finalize
    SEZ devt plan on Sept 1.
- Indonesia, Malaysia step up development 
  of Syariah finance human resources
- Time to seriously consider common
    ASEAN currency: Official

Indonesia Q2 GDP growth seen higher 
than Q1 rise of 4.59 pct - statistics bureau

JAKARTA, July 26 (XFN-ASIA) - Gross domestic product (GDP) growth 
in the second quarter to June is expected to be higher than the 4.59 pct
growth recorded in the first quarter, Central Bureau of Statistics
(BPS) chief Rusman Heriawan said.

"The second quarter (GDP figure) will be better than the first
quarter," he told reporters at the ministry of finance without giving
further details.

A similar GDP estimate for the second quarter was previously given by
Bank Indonesia.

The central bank has said it expects second-quarter growth at around
4. 6-5.1 pct year-on-year underpinned by rising exports.

It said exports in the second quarter are estimated to have risen by
11. 8-12.3 pct year-on-year driven by higher exports of mining
products, crude palm oil, rubber and paper amid rising global demand.

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Indonesia Statistician: No Price "Turbulence" In July

JAKARTA, July 26 (Dow Jones)--Indonesia's chief statistician said
Wednesday that there has been no price "turbulence" so far in July.

However, it is unlikely inflation will be flat during the month
because rice prices have risen, Rusman Heriawan, head of the Central
Bureau of Statistics, said.

"So July inflation won't be exceptional," he told reporters.

Indonesia recorded 0.45% on-month and 15.53% on-year inflation in June.

Bank Indonesia expects inflation to ease toward 7% at the end of the
year, which would allow it to cut its benchmark rate from 12.25%
currently.

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Indonesia Sampoerna gets OK for 2.8 trln rph factory

JAKARTA, July 26 (Reuters) - Indonesia's second largest listed tobacco
company, PT Handaya Mandala Sampoerna Tbk , said it has government
approval for a planned 2.8 trillion rupiah ($307.5 million) factory.

In a letter to the Jakarta Stock Exchange dated July 24, Sampoerna
said the completion of the factory in Karawang, east of Jakarta, was
expected in 24 months after approval from Indonesia's investment
coordinating board on July 14.

Sampoerna, a company with a market capitalisation of around $3.7
billion, is among the top three cigarette makers in Indonesia, a
country of 220 million people. PT Gudang Garam Tbk is the biggest
player with unlisted Djarum and Sampoerna fighting for second place.

Philip Morris International, the tobacco arm of Altria Group , bought
nearly 100 percent of Sampoerna last year in a deal worth around $5.2
billion. ($1=9105 rupiah)

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Bank Indonesia awards 51.45 trln rupiah 1-mth SBIs at fixed rate 12.25 pct

Jakarta, July 26 (XFN-ASIA) - Bank Indonesia said it has awarded 51.45
trln rupiah worth of one-month Bank Indonesia Certificates (SBIs) at a
fixed rate of 12.25 pct, unchanged from the previous week.

The SBI rate is pegged to the central bank's key policy rate, called
the BI rate.

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The Edge Financial Daily (Malaysia)
July 25, 2006

Khazanah may need to re-look equity structure of Indon banks

Surin Murugiah

Khazanah Nasional Bhd may need to adjust its ownership structure in PT
Lippo Bank and PT Bank Niaga as a proposal by Bank Indonesia
disallowing any single party to own a dominant stake in more than one
commercial bank is expected to be launched next month.

Under the proposed Single Presence Policy, companies that own stakes
in more than one commercial bank will have to reduce their holdings by
either merging the banks or forming a holding company that has control
of the banks.

Controlling interest is defined as more than 25%. The deadline for the
completion of the implementation is end-2008.

Khazanah owns 87.5% of Lippo Bank via its subsidiary Santubong
Investment BV and 66.1% indirect interest in Bank Niaga through
Bumiputra-Commerce Holdings Bhd.

In a research note on July 25, Mayban Securities Research said the
Indonesian Banking Architecture policy introduced in January 2004 was
aimed at reducing Indonesia's 131 banks to 58 by 2010.

Ranked by total assets, the top 15 banks account for about 71% of
total assets in the Indonesian banking system.

It said although it was purely speculative, an option for Khazanah was
to merge Lippo Bank with Bank Niaga. Another alternative is for
Khazanah to sell Lippo Bank.

"In the first scenario, the enlarged Bank Niaga-Lippo Bank entity is
estimated to have an asset base of 70.7 trillion rupiah (RM28.49
billion). This comfortably creates an enlarged entity that would be
the fifth largest bank in Indonesia by asset size."

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Indonesia's major banks report poorer H1 performance

JAKARTA, July 26 (Asia Pulse/Antara) - A number of Indonesian major
banks showed poorer performances in the first half of this year
compared with the same period last year.

Sharp declines were reported in net profit and credit extensions,
Finance Director of Bank Danamon (JSX:BDMN) Vera Eve Liem said.

The country's largest and third largest lenders state owned Bank
Mandiri and Bank Negara Indonesia already revised down their growth
targets for this year after posting poorer performances in the first
half of this year.

Bank Danamon, the fifth largest lender in the country, reported a 57
per cent decrease in net profit to Rp558 billion (US$62 million) in
the first six months of this year.

Liem attributed the decline to absence of non routine income in the
first half of this year such as profit from the sales of bonds and
repayments of non performing loans.

Last year, Bank Danamon posted non routine income totaling Rp615
billion of which 80 per cent were in repayment of non performing
loans.

Bank Internasional Indonesia, the 9th largest bank in the country,
also recorded a 11 per cent decrease in net profit to Rp352 billion in
the first half of this year.

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Indonesia Min: Japan Partnership Talks To Finish End '06

JAKARTA, July 25 (Dow Jones)--Indonesia's Trade Minister Mari Elka
Pangestu said Wednesday that she believes negotiations on economic
cooperation with Japan will be completed by the end of the year.

"We hope that Japan will increase its investment in Indonesia, not
only in automotive, textile and chemical sectors, but also in the
agriculture and infrastructure sectors," Pangestu told reporters.

Indonesia and Japan embarked on a series of talks to enhance
investment and trade relations between the two counties after their
leaders signed an initial Economic Partnership Agreement in 2005.

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Japan's Daihatsu Q1 net profit rises 5 pct; sticks to FY outlook

TOKYO, July 26 (XFN-ASIA) - Daihatsu Motor Co Ltd, Japan's
second-largest maker of compact cars, reported a 5 pct rise in net
profit for the three months to June due to increased sales and left
its full-year forecasts unchanged.

The company made a net income of 5.84 bln yen in the first quarter, up
from the year-earlier's 5.54 bln.

Operating profit increased 8 pct to 10.94 bln yen, as revenue expanded
21. 7 pct to 368.97 bln.

The minivehicle maker said global sales, including those vehicles that
it made for parent Toyota Motor Corp, rose 16 pct to 311,503 units
during the period.

Daihatsu cited strong growth in sales overseas, particularly in
Indonesia, on top of brisk domestic sales.

The Toyota group currently controls some 40 pct of the Indonesian
market, including Toyota-brand vehicles that Daihatsu makes. That is
more than double the 17-18 pct share of compact car maker rival Suzuki
Motor Corp.

After its modest income rise in the June quarter, Daihatsu said it is
sticking to its full-year projections for net profit of 28.5 bln yen
and operating profit of 50 bln on revenue of 1.54 trln.

The Toyota unit expects to sell 1.08 mln compact cars globally in the
current year to March 2007, including 640,000 units domestically, also
unchanged from previous estimates.

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Stock alert - Indonesia's Bank Danamon lower after weak H1 results

JAKARTA, July 26 (XFN-ASIA) - PT Bank Danamon shares were sharply
lower in morning trade after the company reported a sharp drop in its
first half results, dealers said.

PT Bank Danamon Indonesia said its first half to June net profit fell
57 pct to 558 bln rupiah from 1.28 trln a year ago partly due to cost
increases.

Analysts say the sharp fall in the bank's net profit was unexpected,
prompting investors to unload their shares in the bank.

At 10.05 am, Bank Danamon was down 175 rupiah or 4.29 pct at 3,900.

The composite index was up 1.848 points at 1,309.623.

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Indonesia's Fajar Surya H1 net profit 77.97 bln rupiah vs loss 372.81 mln

JAKARTA, July 26 (XFN-ASIA) - Paper maker PT Fajar Surya Wisesa's
first half to June results:

Sales - 778.99 bln rupiah vs 700.58 bln
Opg profit - 70.05 bln rupiah vs 81.92 bln
Net other income - 42.94 bln rupiah vs charges 80.60 bln
Net profit - 77.97 bln rupiah vs loss 372.81 mln
EPS - 31rupiah vs nil

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Indonesia's Matahari posts 17% increase in sales to US$366.6 mln

JAKARTA, July 26 (Asia Pulse/Antara) - Retail company PT Matahari
Putra Prima (JSX:MPPA) said its sales were estimated at Rp3.3 trillion
(US$366.6 million) in the first half of this year or up 17 per cent
compared with the same period last year.

Company Director Danny Kojongian attributed the increase to the
opening of new department store and hypermarket outlets.

Danny said department stores are still the largest contributor to its
sales value - accounting for 65 per cent.

This year Matahari plans to open up to five new outlets of department
store and 10 outlets of hypermarket, he said.

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Indonesia's Hero Supermarket H1 net profit 13.91 bln rupiah vs 18.95 bln

JAKARTA, July 26 (XFN-ASIA) - PT Hero Supermarket first-half to June results:

Sales - 2.27 trln rupiah vs 1.95 trln
Operating profit - 16.88 bln rupiah vs 8.97 bln
Net profit - 13.91 bln rupiah vs 18.95 bln
EPS - 42 rupiah vs 58

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Indonesia's Suparma H1 net profit 22.33 bln rupiah vs 5.20 bln

JAKARTA, July 26 (XFN-ASIA) - Paper producer PT Suparma's first half
to June results:

Sales - 339.76 bln rupiah vs 284.78 bln
Operating profit - 33.43 bln rupiah vs 37.48 bln
Net other charges - 1.47 bln rupiah vs charges 29.88 bln
Net profit - 22.33 bln rupiah vs 5.20 bln
Earnings per share - 23 rupiah vs 5

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Indonesia's Jiwasraya sees premium income hit 61% of target

JAKARTA, July 26 (Asia Pulse/Antara) - State-owned life insurance
company Asuransi Jiwasraya reported Rp1.1 trillion in premium income
in the first half of this year ore 61 per cent of its target of Rp1.8
trillion (US$200 million) set for this year.

Jiwasraya President Herris B. Simanjuntak said the assets of the
company were valued at Rp3.9 trillion in June, 2006, up from Rp3.7
trillion a year earlier.

Its investment rose Rp300 billion to Rp3.5 trillion and its risk based
capital (RBC) ratio was 122.33 per cent well above the minimum ratio
of 120 per cent set by the finance ministry.

RBC is capital needed to cover risks of default, cash flow mismatch,
currency mismatch, claim worse than expected and insufficient premium.

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Mandom Indonesia posts 17.1% increase in net profit

JAKARTA, July 26 (Asia Pulse/Antara) - Publicly listed cosmetic
company PT Mandom Indonesia reported a 17.1 per cent increase in net
profit year-on-year to Rp61.5 billion (US$6.8 million) in the first
half of this year.

Company Director Makmun Arsyad attributed the rise in net profit to an
increase of 6.4 per cent in sales to Rp500.9 billion.

Its production totaled 26.34 million dozen units of cosmetics until
June 2006 as against its annual production capacity of 77.67 million
dozen units.

In 2005, the company produced 45.86 million dozen units of cosmetics
as against production capacity of 64.08 million dozen.

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Indonesia's foreign investors seek fairer severance pay rules

JAKARTA, July 26 (Asia Pulse/Antara) - Foreign investors have demanded
that the Indonesian government issue fairer manpower regulations in
which a distinction is made between deserving and undeserving workers
in the matter of severance pay, a spokesman said.

"In addition, incentives should not only be given to companies in
special economic zones but also to those in developed economic zone,"
Yoshihiro Kobi, a member of Jakarta-Japan Club dealing with manpower
problems, said here on Tuesday.

He said the existing system in providing severence pay was not fair
because those violating manpower regulations still receive big amounts
of severence pay.

"We don`t care much about (the unfair practice) as it has happened
here, consequently the severence pay should be made available.
Therefore, the unfair practice has been made use by those who wish to
earn big amount of severence pay, and this should not recur," he said.

"I ask the government or labor union to make a fair system, and
companies also have right to conduct lay off," he cited, adding that
in making the lay-off system, sanction for the minor and major
violation should also be distinguished.

He also suggested that the government to create the manpower
regulations dealing with the initiative to provide more work
opportunities.

Of 158 companies only two collapsed, meaning that business
opportunities are improving in Indonesia, Kobi added.

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Indonesia eyes tourism potential of Australia's North

DARWIN, July 26 (Asia Pulse/Antara) - Indonesia is eyeing the tourism
potential of Australia`s Nothern Territory (NT) state which is every
year visited by more than 300,000 foreign tourists who contribute
about $A394 million ($US296.11 million) to the state`s annual income.

Indonesia`s interest in some form of cooperation with NT that would
enable it to tap the latter`s tourism potential was revealed in a
meeting between Indonesian Ambassador to Australia and Vanuatu Hamzah
Thayeb and a Northern Territory official in charge of trade relations
with Asia and major projects, Quentin Killian, here on Tuesday.

Killian said last year as many as 348,000 foreign tourists visited
Northern Territory state, covering 1,346 million square kilometers.

The number of visitors increased about eight percent compared to 2004.

According to the spokesperson of the Indonesian Consulate in Darwin,
Buchari Hasnil Bakar, Indonesia would benefit from NT`s tourism
potential through cooperation of cruise ships sailing between NT and
Indonesia`s tourism sites.

"It will be discussed by the Indonesian Culture and Tourism Ministry`s
top official with Chief Minister of Nothern Territory, Clare Martin
MLA, related with the cooperation of the cruise ship line," he said.

The 2,000-passenger cruise ships always cross Darwin in their sailing
from Australian southern areas, he said.

The meeting with Quentin was a part of Ambassador Hamzah Tayeb`s
four-days official visit in Darwin.

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Indonesia to revise forestry regulations to empower community

JAKARTA, July 26 (Asia Pulse/Antara) - The Indonesian Forestry
Ministry will revise three government regulations in the forestry
sector that do not support community empowerment in efforts to foster
economic growth and national economic stability.

"Revisions of those regulations will further guarantee sustainability
and synergy in the implementation of policies that are aimed at the
empowerment of the community," forestry minister AM Kaban stated in a
written message read out by his expert staff Sunaryo at a discussion
with the press in Jakarta on Tuesday.

The three government regulations to be revised are PP No.34 2002 and
PP No.18/1994 on nature tourism in national parks and tourist resorts,
and PP No.68/1998 on wildlife reserves and natural conservation areas.

The three regulations are considered no longer compatible with the
developments of the situation, so that the revision will be made to
give greater opportunity to the community to participate in developing
the forestry sector, the minister said.

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Stockwatch - Indonesia's Astra Agro sharply higher on CPO price prospects

JAKARTA, July 26 (XFN-ASIA) - Crude palm oil (CPO) producer PT Astra
Agro Lestari was sharply higher in midmorning trade on extended
bargain-hunting amid growing hopes that the CPO price will continue to
rise partly due to demand for biodiesel development, dealers said.

At 10.55 am, Astra Agro was up 550 rupiah or 6.8 pct at 8,600 on 2.09
mln shares.

The composite index was up 2.913 points at 1,310.688.

The stock has gained over 70 pct in the past six months.

"I think sentiment here was not driven by the first-half earnings
report, which was not that strong, but rather by (CPO) price
expectations," said Fitri Murniawati, an analyst with BNI Securities.

She said analysts are bullish that the CPO price will keep rising to
above 500 usd per ton given emerging biodiesel projects in some other
CPO producing countries as well as in Europe.

Indonesia and Malaysia are the world's largest CPO producers.

Astra Agro corporate secretary Tjahyo Dwi Arianto said the local price
of CPO being auctioned by Astra Agro has been relatively stable
recently at over 4,000 rupiah per kilogram. The local price also
depends on the rupiah's exchange rate, which has been somewhat
volatile recently.

He said the CPO price in Rotterdam for July and August deliveries were
quoted at 485 usd and 475 usd per ton respectively, while prices for
December to March future contracts are above 500 usd.

"The trend is that the price is gradually picking up," he said.

He would not comment as to whether the Astra Agro's fundamental
performance justifies the rise in the share price but said ongoing
talks and news about biodiesel projectscould have played a part in
boosting the stock.

BNI's Murniawati added that plantation firms have become favorites
recently partly because they are not so sensitive to energy costs,
which have squeezed the margins of manufacturing companies.

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Indonesia palm oil eases on rupiah, weakening Malaysia gains

JAKARTA, July 26 (Reuters) - Indonesia's palm oil prices softened on
Wednesday, pressured by a strengthening rupiah against the U.S. dollar
and weakness in Malaysia crude palm oil futures, traders said.

At the state marketing centre's auction in Jakarta, crude palm oil was
traded at 4,083 rupiah ($0.450) a kg, down 4,101 rupiah a kg on
Tuesday.

There were no local auctions in North Sumatra's Medan, the key port
for Indonesia's palm oil exports. Crude palm oil in Medan was traded
at 4,101 rupiah a kg on Tuesday.

"There are not many sellers making offers today. Maybe they are not
interested because Malaysia is softening today," said a trader in
Medan.

Malaysian crude palm oil futures slipped by midday on Wednesday
because of profit-taking and sluggish demand for palm products with
the benchmark third-month October <KPOV6> contract on the Bursa
Malaysia Derivatives down 13 ringgit at 1,563 ringgit ($424) a tonne.

Meanwhile, the rupiah was quoted at 4,083 per dollar late on Wednesday
versus 9,105 rupiah on Tuesday. A stronger rupiah makes the commodity
-- traded in dollars -- cheaper in rupiah terms.

In Jakarta, cooking oil also slipped to around 4,560 rupiah a kg from
4,600 rupiah per kg due to the stronger rupiah. But tight olein supply
cushioned prices from falling further.

"Cooking oil supply in Jakarta is a bit tight currently and that holds
the price at current levels," said a trader in Jakarta.

Lacklustre trading lingered on the export front without a price
quotation for August shipment.

Offers for September shipments were seen at $425 a tonne, free on
board Belawan, but buyers did not place any bids.

"Local palm oil prices are currently more attractive than export
prices. That may have damped producers' interest to export," said the
Medan trader.

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Indonesia, Singapore to finalize SEZ devt plan on Sept 1.

BATAM, July 26 (Asia Pulse/Antara) - The Indonesia-Singapore action
plan on economic development cooperation in the Batam-Bintan-Karimun
special economic zone will be finalized on September 1, 2006.

In this context, the second meeting of the Indonesia-Singapore Joint
Working Group was held in Batam on Tuesday which also agreed on the
holding of a technical meeting on August 25 to draw up a formulation
for the third meeting on September 1, 2006.

"After today's meeting, a technical meeting will be held on August 25
to discuss details of the action plan including joint promotion," Head
of the Capital Investment Coordinating Agency's training and
development centre Azhar Lubis said after the meeting at Hotel Planet
Holiday which was closed to the press.

The second meeting was also attended by Minister of Trade Mari Elka
Pangestu and her collague, chairman of the Singapore Economic
Development Board Lim Siong Gua, while the first meeting discussed a
proposal from Indonesia and Singapore of the action plan.

Except the agreement on the date of the third meeting to facilitate a
formulation of the action plan, the place of the third meeting has yet
to be determined, either in Indonesia or Singapore, Minister Mari
said.

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Indonesia, Malaysia step up development of Syariah finance human resources

JAKARTA, July 26 (Asia Pulse/Antara) - Bank Indonesia (BI) Governor
Burhanuddin Abdullah and his counterpart from Bank Negara Malaysia
(BNM) Dr Zeti Akhtar Aziz signed a memorandum of understanding (MoU)
to step up bilateral coperation in the development of Islamic syariah
financial human resources.

The MoU was signed by Burhanuddin as chairman of the curators` council
of the Indonesian Banking Development Agency (LPPI) and Zeti Akhtar as
chairman of the International Center for Education in Islamic Finance
(INCEIF) at a ceremony witnessed by President Susilo Bambang Yudhoyono
and Malaysian Prime Minister Abdullah Ahmbad Badawi at the State
Palace.

"To face the challenges in the years to come, today we have a giant
step in a bid to build a syariah financial industry through a
bilateral cooperation," Baharuddin said in his address.

He added that syariah banking and financial industry in the past
decades showed a significant development but it needed human
resources.

Burhanuddin noted that the implementation of the MoU between LPPI and
INCEIF would be beneficial for the human resources in syariah
financial industry.

"I am optimistic that such a cooperation will produce a profesional
syariah financial industry," he said, adding that the cooperation
would be expanded in the future by involving as many parties as
possible from various areas.

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Time to seriously consider common ASEAN currency: Official

KUALA LUMPUR, July 26 (Asia Pulse/Bernama) - Asean should seriously
consider using a common currency to boost intra-Asean trade, says
co-chairman of Asean Business Advisory Council (ABAC) Syed Amin
Al-Jeffri.

He said Asean member countries were currently using different
currencies that were influenced by the movements of the U.S dollar.

"Although Malaysia had mooted the idea of using a single Asean
currency for inter-Asean trade many years ago, this has yet to be
realised," he told Bernama on the sidelines of the 39th Asean
Ministerial Meeting (AMM), which was opened by Prime Minister Abdullah
Ahmad Badawi at the Kuala Lumpur Covention Centre here Tuesday.

Syed Amin said because the currencies were tied to the U.S. dollar,
they were very much affected by its volatility.

"This will be a setback to intra-Asean trade, in terms of boosting
trade among member countries," he said when asked about the progress
of the Asean Economic integration.

Syed Amin said Asean, which comprises Malaysia, Thailand, Indonesia,
the Philippines, Singapore, Vietnam, Laos, Brunei, Myanmar and
Cambodia, could look at the success of other regions that have adopted
a common currency such as the Economic Community of West African
States (Ecowas).

"There is free movement of people, good and services in Ecowas...there
is already a common currency, Cifa, being used," he said.

Citing Mali and Senegal as examples, Syed Amin said: "Mali is a
landlocked West African country but they have a railway link to Dakar
in neighbouring Senegal for their products to be exported."

He also spoke of West Asia where the idea of a common currency had
been floated involving the Gulf states that were using riyal.

Syed Amin said even in the South Asian region where all the countries
were using rupees, the prospect of using a common currency had been
discussed.

"Pakistan, India and Mauritius are using rupees. Although they are of
different value, there is no stopping them to use a single form of a
rupee," he said.

He said a common currency could protect the region from currency
speculation which led to the 1997 financial crisis in Southeast Asia.

He said there was also no need to worry if time is taken to introduce
the common currency as Europe too had taken a long time to introduce
the Euro.

Apart from a common currency, he said there was strong foundation
towards creating an Asean Economic Community.

"We have organisations representing the various industries such as the
Textile Association of Asean and Electronic and Electrical Association
of Asean," he said.

However these efforts have been generally initiated by the private
sector, which needs the support of the Asean governments to provide
the catalyst for growth in cross-border trading.

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Joyo Indonesia News Service
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