Govt Refuses Early Enactment of Fuel Control

The government refuses the idea suggested by economic analyst Anggito Abimanyu to hurry fuel control by virtue of the increase in world crude oil prices.

"The government wants to be more logical and technically prepared concerning the issue," said Energy and Mineral Resources Minister, Darwin Zahedy Saleh, in Jakarta on Friday, Dec 31.

The hike in world crude oil prices, according to Darwin, will back up the arguments expressed by the government on the importance of subsidized fuel control. In his opinion, should oil prices go up, the government would subsidize more to fuel.

"The issue is not to speed it up, but to reinforce the government's ground to subsidize to the right people," he said.

Earlier, economic analyst Anggito Abimanyu recommended that the government steps up fuel control following the soaring world crude oil prices.

IDX Eyeing US$450.8 Bn of Capitalization

The Indonesia Stock Exchange (IDX) expects a growth by 25 percent on capitalization value in 2011 to around Rp 4,053 trillion , which will mainly be boosted by new issuers.

"We're expecting a rise of 25 percent," said IDX President Director Ito Warsito in Jakarta on Thursday, Dec 30.

Some of the issuers of high capitalization that will hold IPO in 2011 include PT Newmont Nusa Tenggara and PT Garuda Indonesia.

According to Ito, Newmont may have more market capitalization by Rp 70 trillion. "However, after the IPO, the value may be increasing," he said.

Total transaction value in the IDX until 29th of December, 2010, reaches Rp 1,249.27 trillion, a rise of 28.1 percent.

Meanwhile, the market capitalization value recorded by the IDX improved 60.63 percent.

Indonesia Stock Market Best in Asia-Pacific

The Indonesia Stock Exchange comes out on top over other stock markets worldwide along 2010. Up until the end of this year, the Jakarta benchmark index was closed at 3,703.51.

The index once gained the highest level in history at 3,786.09 on December 9, 2010. "The Indonesia Stock Exchange is considered the best among other stock markets in Southeast Asia and Asia-Pacific," said Deputy Finance Minister, Anny Ratnawati, in Jakarta today, Dec 30.

The Jakarta stock prices inched up 45.96 percent compared to last year's 2,534.35.

Anny said in a statement that the Thai stock exchange was close in performance with the IDX at a growth of 40.85 percent.

Total transaction value in the IDX up until December 29, 2010, reached Rp 1,249.27 trillion, a rise by 28.1 percent of the total share transactions along 2009 worth Rp 975.21 trillion.

The market capitalization in the IDX reached Rp 3,243 trillion this year, an increase of 60.63 percent compared to 2009.