Indonesia's economic growth in the first quarter (Q1) at 2.97 percent year-on-year (yoy) is still relatively good as compared to several countries whose economies contracted, thereby recording negative growth// As quoted by Antara News Agency /  President Joko Widodo  while chairing a plenary cabinet meeting held through a videoconference from the Merdeka Palace  on Wednesday stated that  the economic growth was moving at a positive level, while several developed countries experienced a contraction in the gross domestic product (GDP), for instance, China’s 6.8 percent contraction// the president pointed out that let the government  see the contraction and negative growth of several countries// China fell from plus six percent to minus 6.8 percent, thereby translating to a slump of 12.8 percentage points in sequential year-on-year growth; France, 6.25 percent, minus; Hong Kong, 5.9 percent; and Italy, 4.95 percent, recorded negative growth//Ant

Minister of SOEs Erick Thohir. (ANTARA)

Jakarta - State-Owned Enterprises (SOEs) Minister Erick Thohir, on Wednesday, expressed a belief that global investors still perceived Indonesia as one of the lucrative countries to invest.

"In the wake of today's situation of an unstable global market, we can see several investors interested in the SOEs' global bond that might be a testament to the fact that Indonesia is still attractive for global investors," Thohir noted in a statement.

To this end, the minister has encouraged SOEs to employ creative approaches to seek funds, for which a cue can be taken from the issuance of the global bond as a sound example.

On Tuesday, May 5, PT Bank Mandiri’s US$500 million oversubscribed by nearly five times, as the demand touched US$2.4 billion. The global bond offered a coupon of 4.75 percent per year, higher than the government’s global bond coupon of 3.9 percent issued in early April. The five-year debt paper will mature in 2025.

The investors comprise some 66 percent from Asia, while another 34 percent are from European countries, the Middle East, Africa, and the United States.

Bank Mandiri earned a Baa2 rating with a Stable outlook from Moody's, BBB- with a Negative outlook from S&P, and BBB- with a Stable outlook from Fitch.

PT Hutama Karya had earlier successfully launched its US$600 million global bonds. The debt paper was oversubscribed by some six times. The global bond offered a coupon of 3.75 percent per year. Some 42 percent of the investors came from Asia; while 30 percent were from Europe, the Middle East, and Africa; and 28 percent from the United States. (ANTARA)

A rubber plantation (Dokumentasi Kementerian PUPR)

Indonesia's Public Works and Public Housing Ministry plans to purchase 10,000 tons of rubber from farmers for use in rubberized asphalt amid the new coronavirus pandemic impacting absorption of the rubber commodity by the market.

"The purchase of this rubberized asphalt is part of the ministry's mitigation efforts to deal with the impact of the COVID-19 pandemic," Public Works and Public Housing Minister Basuki Hadimuljono noted in a press statement that ANTARA received in Jakarta Tuesday.

The farmers' rubber commodity will be purchased by the ministry's National Road Management Agency in several cities, including Medan, Palembang, Padang, Lampung, Banjarmasin, Pontianak, and Balikpapan, he remarked.

The National Road Management Agency in the cities will buy the rubber from members of the Processing and Marketing of Processed Rubber Material Group of Farmers, he stated.

The ministry has frequently used rubberized asphalt for paving roads in various areas, including certain road sections of Ciawi-Sukabumi, Ajibarang-Banyumas-Klampok-Banjarnegara, and Muara Beliti-Musi Rawas-Tebing Tinggi-Lahat.

Hadimuljono revealed that the Public Works and Public Housing Ministry had allocated a budget of Rp100 billion to purchase the 10 thousand tons of rubber for rubberized asphalt.

ANTARA noted that to maintain the purchasing power of members of the low-income community amid this ongoing COVID-19 pandemic, the ministry will also intensify manpower-intensive infrastructure projects in different parts of Indonesia.

In implementing these labor-intensive infrastructure projects to maintain the purchasing power of people from the low-income group and to reduce unemployment, the social distancing measures will consistently be enacted to contain the COVID-19 outbreak.

"The manpower-intensive infrastructure projects are also aimed at boosting economic growth and distributing funds to villages and rural areas," Hadimuljono noted in his recent press statement.

With budget totaling Rp10 trillion, the projects cover seven programs, including the Irrigation System Accelerated Program (P3-TGAI), Socio-Economic Regional Infrastructure Development Program (PISEW), and Reduced, Reused, and Recycled Waste Management Sites (TPS3R), he stated.  

The coronavirus outbreak initially struck the Chinese city of Wuhan at the end of 2019 and thereafter spread across the globe, including to countries in the Asia-Pacific region.

The Indonesian government officially announced the country's first confirmed cases on March 2, 2020, and has declared the COVID-19 pandemic as Indonesia's national disaster. (ANTARA)

Army personnel helps a local resident obtain 1.5 kg of free rice in Jakarta on April 27, 2020. (ANTARA FOTO)

The Ministry of Agriculture and the Indonesian Military (TNI) have distributed 155 tons of rice through automated dispensing machines to people severely affected by the impact of the coronavirus pandemic, a government official said.

"We are working with the TNI to distribute free rice through automated dispensing machines set up in 10 compounds of district military commands in Greater Jakarta areas," Gatut Sumbogodjati, a top official with the Agriculture Ministry, said in a press statement that ANTARA received in Jakarta on Tuesday.

Rice is being provided through the automated dispensing machines since the first day of Ramadhan and the provision will continue during the holy fasting month, he informed.

The free rice distribution through the machines is part of the Indonesian Government’s efforts to ensure food security for community members amid the ongoing pandemic that has significantly cut incomes.

Automated dispensing machines providing free rice for coronavirus-affected people have been set up in 10 compounds of the district military commands in Central Jakarta, North Jakarta, East Jakarta, South Jakarta, Tangerang, Bekasi, Depok, Bogor City, and Bogor District.

Thanks to the automated dispensing machines, about 1,000 eligible families have been able to avail of the free rice program. Each of the eligible recipients can take 1.5 kg of rice per day.

Representatives from the eligible families should follow COVID-19 protocols, such as practicing physical distancing, when taking their daily rice quota from the machines, Gatut Sumbogodjati said.

The coronavirus disease, which initially struck the Chinese city of Wuhan at the end of 2019, has since spread to at least 202 countries and territories, including Indonesia, with a massive spurt in death toll.

The Indonesian government officially announced the country's first confirmed cases on March 2 this year. The ongoing COVID-19 pandemic has weakened the purchasing power of scores of Indonesian families, particularly those who have lost their jobs.

President Joko Widodo has highlighted the importance of fostering the spirit of "gotong royong", or mutual cooperation, in responding to the impact of the COVID-19 pandemic, arguing that the government cannot work alone to fight the spread of coronavirus infections.

"The entire nation's participation is indispensable," President Jokowi declared in a video statement from the Bogor Presidential Palace recently.

“The caring-and-sharing movement must be made public. This is not aimed at showing off, but at keeping hope alive, and inspiring others to do the same good deeds,” he pointed out. (ANTARA)