VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

BPDP-KS aims to achieve 2021 palm oil plantation rejuvenation target

The Indonesia Oil Palm Plantations Fund Management Agency (BPDP-KS) remains unswerving in its endeavors to attain the target of small-scale palm oil plantation rejuvenation that will span an area of 180 thousand hectares in 2021.

"The target of small-scale plantation rejuvenation in 2021 would cover 180 thousand hectares of area, with funding allocation of Rp5.567 trillion," Chief of BPDP-KS' Steering Committee, Airlangga Hartarto, stated here on Saturday.

The agency will also support the implementation of the B30 biodiesel mandatory policy in 2021, Hartarto who concurrently the coordinating minister for economic affairs, remarked.

Hartarto noted that BPDP-KS and all stakeholders in the palm oil sector will design a more effective and efficient mechanism to achieve the target.

In addition, the government has continued to encourage the implementation of the B30 biodiesel mandatory policy, with allocation target set at 9.2 million kilo liters.The palm oil rejuvenation plan aims to maintain stability in the price of Crude Palm Oil (CPO) and surplus of non-oil and gas trade balance, wherein the exports of palm oil and its derivative products contributed 12 percent of the trade.

With this commitment, the government is expected to achieve the target of securing 23 percent of its primary energy from renewable sources by 2025 in the energy mix program of the National Energy Policy (KEN), Hartarto stated//ANT

A customer using the Motion mobile banking application. (ANTARA / HO-MNC Bank)

Governor of Bank Indonesia (BI) Perry Warjiyo reckoned that digital banking transactions all through 2021 would reach Rp32,206 trillion, or higher than Rp27,036 trillion in 2020.

"It seems that last year, it had reached Rp27,036 trillion, and this year, it is estimated at Rp32,206 trillion. This is much higher than our nominal GDP,” he stated during an event titled “Building Optimism after the COVID-19 Pandemic” in Jakarta, Friday.

Warjiyo pointed out that this figure was much higher than the nominal gross domestic product (GDP), so his side will adopt a highly aggressive approach in digitizing the payment system.

The BI governor expounded that the total digital banking transactions were supported by e-commerce transactions, which were estimated last year at Rp253 trillion, and will climb by 33.2 percent to reach Rp337 trillion this year.Warjiyo noted that digital banking transactions were also supported by electronic money transactions that will increase by 32.3 percent, from Rp201 trillion in 2020 to Rp266 trillion this year.

"Some 15 banks are very aggressive in conducting digital banking," he pointed out.

Warjiyo noted that economic growth and digital finance were extraordinary, one of which was driven by the COVID-19 pandemic.

"The COVID-19 pandemic is accelerating economic and financial digitization. It really drives the digital financial economy very strong. This is extraordinary," he stated.The BI governor earlier outlined four aspects for all banks to take into account while striving to drive open banking. The first aspect involves the transformation of technology infrastructure, wherein all banking service systems are interconnected, for instance, services related to treasury, credit, and funds.

Warjiyo noted that the second aspect pertained to building a data warehouse from various information systems owned by the bank, including the metadata of depositors and debtors.

"Whether the metadata has also been built using artificial intelligence, analytical big data, it must be developed to process various data, so that it can be useful," he stated.

The third aspect concerns the development of business models based on information technology systems and metadata owned by the bank to offer interactive services online to customers, he explained.

Hence, with open banking, all services that were earlier exclusively provided to select customers would now be availed by all customers. Hence, every customer will receive the same services, especially in personal banking, he noted.The last aspect is about changing the mindset, right from the highest levels of the company to subordinates, in bringing about digital transformation, he remarked//ANT

An investor monitors stocks on his cellular phone in Jakarta on November 13, 2020. The BEI index shed 106.77 points to reach 6,307.13 on Friday (January 22, 2021). (ANTARA FOTO/Akbar Nugroho Gumay/wsj)

The Jakarta Composite Index (IHSG) ended lower on Friday tracking the weakness in regional stock markets.

The index of the Indonesian Stock Exchange (BEI) fell 106.77 points, or 1.66 percent, to reach 6,307.13, while the index of the 45 most liquid stocks (LQ45) shed 19.63 points, or 1.94 percent, to touch 991.58.

"The IHSG weakened today due to a negative sentiment arising from concern over declining coal prices along with the rising temperature that has begun to affect China, coupled with the planned reallocation of the Public Works and Housing Ministry's budget fund of Rp17.9 trillion, and (also because) restrictions on the movement of people (have been) extended until early February," Indo Premier Sekuritas analyst Mino said in Jakarta on Friday.

Shortly after opening higher, the IHSG fell and remained in the red until the close of trade.Stocks in all sectors recorded a correction, with the mining sector deepening its slide by minus 4.09 percent, followed by the infrastructure sector and the property sector at minus 2.82 percent and minus 2.6 percent, respectively.

Friday's trade posted net foreign buys of Rp71.73 billion.

A total of 1,441,089 transactions were recorded during the day, with 17.37 billion shares, worth Rp17.34 trillion, changing hands. Meanwhile, 107 shares rose, 396 shares fell, and 128 shares remained unchanged.

In the Asian regional markets, the Nikkei Index weakened 125.41 points, or 0.44 percent, to reach 28,631; the Hang Seng Index plunged 479.91 points, or 1.6 percent, to touch 29,447.85; while, the Straits Times Index fell 25.62 points, or 0.85 percent, to 2,991.53//ANT

A medical worker in a protective suit helps a resident to register outside at a residential area at Jordan where residents have been placed in a lockdown to contain a new outbreak of the COVID-19. (Photo: Reuters/Tyrone Siu)

Thousands of Hong Kong residents were locked down Saturday (Jan 23) in an unprecedented move to contain a worsening outbreak in the city, authorities said.

The order bans anyone inside multiple housing blocks within the neighbourhood of Jordan in Kowloon from leaving their apartment unless they can show a negative test.

The government said in a statement there are 70 buildings in the "restricted area".

Sewage testing in the area had picked up more concentrated traces of the virus, prompting concerns that poorly built plumbing systems and a lack of ventilation in subdivided units may present a possible path for the virus to spread.

The Jordan district covers a small but densely populated part of Kowloon.

“Persons subject to compulsory testing are required to stay in their premises until all such persons identified in the area have undergone testing and the test results are mostly ascertained,” the government said in a statement.

Hong Kong was one of the first places to be struck by the coronavirus after it burst out of central China.

It has kept infections under 10,000 with about 170 deaths by imposing effective but economically punishing social distancing measures for much of the last year. Saturday's move is the strongest lockdown yet in the city.

Over the last two months the city has been hit by a fourth wave of infections with authorities struggling to bring the daily numbers down.

More than 4,300 cases have been recorded in the last two months, making up nearly 40 per cent of the city’s total.

The restrictions are expected to end around 6am on Monday to allow residents to start getting to work, the government said.

It appealed to employers to exercise discretion and avoid docking the salary of employees who have been affected by the restrictions and may not be able to go to work//CNA