JAKARTA – CIMB Group and Sun Life Financial signed an agreement forming a joint venture (JV) with the name of PT CIMB Wed Life.
The signing of the agreement consisting of bancassurance business agreement and shareholders agreement (Bancassurance and Shareholders Agreements) has agreed to last March 16, 2009, and the stock transfer agreement (Share Transfer Deed) then this will pave the way for the formation of a new company, namely PT CIMB Sun Life (formerly known as PT Commerce International), which is 51 percent owned by CIMB Group. Meanwhile Sun Life Financial will hold the remaining number of shares of 49 percent.
“This joint venture partnership opportunities for Bank CIMB Niaga to encourage the growth of its assurance business. It also proves our commitment to continue to expand our business in Indonesia. PT CIMB Sun Life will provide life insurance and protection products and other investments , which will assist them in achieving financial goals, “said President Director of Bank CIMB Niaga Arwin Rashid, in his written statement received Legal, Jakarta, Tuesday (28/7/2009).
PT CIMB Sun Life will officially operate in the third quarter of 2009 by combining the power of customer relationships and extensive distribution network of Bank CIMB Niaga, and global expertise in the insurance industry is owned by Sun Life Financial, a joint venture is expected to be able to work on developing bancassurance market rapidly in Indonesia.
PT CIMB Sun Life at the beginning of the operation will focus its services to three million customers Bank CIMB Niaga through more than 650 branches, before extending his reach to new customers.
“PT CIMB Sun Life combines the strength of the CIMB Group and Sun Life Financial to provide our customers the circuit protection solution that innovative spirit. We have a goal to become one of the leading players in the bancassurance industry in Indonesia,” said Chris Lossin, Country Manager, Sun Life Financial in Indonesia.
Within this structure of cooperation, Indonesia PT Sun Life Services, a subsidiary of Sun Life Financial, has a 49 percent stake in PT. CIMB Sun Life, an insurance company owned by CIMB Group. The rest, 51 percent of new company shares, will be owned by CIG Berhad, a holding company of CIMB Group is engaged in the insurance along with Bank CIMB Niaga. PT. CIMB Sun Life plans are ready for operation this year.
Blog Daily Forex Analysis
Forex May 3rd, 2010
JAKARTA – you need information about Forex analysis today? Perhaps blogs are developed by an IT student from Jakarta this can really help you giving information which has to do with Forex. He wrote a blog about good Forex analysis of fundamental and technical side. Adjusted to the blog title, Drawfx.blogspot.com, the analysis results can be seen in the form of images, there is no written statements.
The pictures are uploaded to the blog contains the 4-hour chart of the movement of the Euro and U.S. dollar each day, and a variety of related indicators.
“I’m interested in Forex because of the ROI (Return On Investment) is quite promising compared to the instruments of other investment. As the nature of the Forex itself, ‘High Risk High Return’.” Said Andreas Kurniawan, bloggers who have carried drawfx? Top 8th Computer Olympiad? in 2003, through a casual conversation some time ago.
Andreas explained that her motivation to develop this blog at first just a hobby and form of impingement desire to simply sharing to other Internet users. Although he got money for fees containing advertising company advertising, but he admitted it was not the underlying motivation for it to fill their blogs,
“There are some advertising companies who pay a levy on advertising contain them on my blog, as shareapic, urlcash, adsense, adbright, and others. But, really, it’s not my priority,” he explained.
This blog is one of several blogs written by Andreas, and from the information obtained, this new blog on the last 1 month and updated from day to day.
Global Gold Demand Down 34%
Gold Investing May 3rd, 2010
LONDON – Gold Demand on third quarter fell 34 percent purchasing power triggered by the weakness in key markets Middle East and India. However, the price of gold in the last two weeks continue to soar.
World Gold Council (WGC) reported yesterday, the decline was caused by lack of jewelry shopping at WGC utama.Menurut markets, increased demand from July to September period occurred only in greater China,, China, Hong Kong, and Taiwan, by 10 percent or equivalent to 128 , 6 tons. While the types of diamond jewelry rose seven percent. “Outlook for gold investment with a positive overall level of demand would improve, supported by continued economic growth.
Uncertainty of currency exchange rates and inflation have been encouraging the diversification, “said Aram WGC chief executive in a statement yesterday Shishmanian. According to the investment research manager of WGC Rozanna Wozniak, although the quarterly period decreased demand for gold, speculation on the price of gold in the long term remains high. “For most of last year, the purchase was dependent physical. Now, buyers seem more oriented to the financial markets in which some people less visible in the derivatives market, futures, or transactions over-the-counter (OTC), “said Wozniak.
She added that the strengthening gold price recently because of the good news of central banks and the decline in U.S. dollar exchange rate. “That resulted in the potential of gold demand in the future,” he said. Announcements purchase 200 tons of gold by Central Bank of India is considered as a trigger soaring gold prices since the beginning of November was later lalu.Kondisi considered buying momentum that pushed prices to the highest level prices.
In addition, gold prices also pushed consumer menjauhnya of other metal commodities. Consumers and central banks prefer to buy gold as a diversification of the portfolio. Based on its territory, gold jewelry demand in India in the third-quarter 2009 fell 42 percent to 116.6 tonnes compared to only the previous quarter. However, that number edged up from the lowest level earlier this year. In the retail market, gold sales in India also fell 67 percent to only 26 tons in July-September period.
While in the Middle East, gold buying activity in the same quarter fell 34% to only 69 tons. The increase in demand in China is expected to reach double digits as the impact of their economic improvement in the middle of a crisis. “China market is set for some time, so consumers there is still much to collect the gold,” Wozniak said. Meanwhile, yesterday’s gold price could reach record highs in the level of USD1.150 per ounce.
However, in the afternoon trading back down to the level of USD144, 7 after a stronger U.S. dollar prices, fueled rising U.S. consumer prices and encourage inflation. From the beginning of 2009, the price of gold has increased about 30 percent. “Outlook for the future of gold is still strong. Although still will fluctuate, expected to be transparent USD1.120 per ons.Tidak be nothing to change except for a stronger U.S. economic data, making the U.S. central bank changes interest rates,” said Deputy General Manager of Broker Commodity Okato Shoji Co’s Kename Gokon.
Another analyst, director of ETF Securities New Zealand and Australia, Nigel Phelan, said that the rally in gold prices triggered by the announcement this month the International Monetary Fund (IMF) who sold the gold to the Central Bank of India as much as 200 tons. “A lot of markets participate after seeing the sale of gold to central banks, including China, Russia and lainnya.Mereka central bank gold reserves would increase as a diversification strategy to prevent the U.S. dollar volatility,” said Phelan.
“Gold is viewed as one of the main alternative to currencies other than holding. The price of gold has also been a key barometer of investor confidence in government policy,” he said.
Malaysia PM Sets Big Reforms to Boost Investment
Portfolio May 3rd, 2010
KUALA LUMPUR – Malaysia’s prime minister unveiled a Raft of measures on Tuesday to boost investment in the slumping economy, coming close to ending an affirmative action program for ethnic Malays that critics say has stymied growth.
Najib Razak told a conference in Kuala Lumpur that his government would end rules on foreign investment in most sectors of the economy and would open up the investment management and brokerage industry, as well as property, ending requirements for 30 percent ownership by ethnic Malays.
He also promised Reforms of Malaysia’s huge government companies such as plantations and property giant Sime Darby, and said they would be forced to sell non-core assets to boost domestic competition in the Southeast Asian nation.
“We have become a successful middle-income economy, but we can not and will not be caught in the middle income country trap,” Najib told the conference.
“We need to make the shift to a high-income economy or we risk losing growth momentum in our economies and vibrancy in our markets.”
The Reforms gave the ringgit a small boost and it traded at 3521 to the dollar at 0500 GMT, up from 3:54 at the open, although the data released later showed foreign investors had continued to pull money out of Malaysia this year.
Malaysia is Asia’s third most export-dependent nation, seeing shipment slump 26 percent from a year ago as demand for electronics and commodities has been hit by the global downturn. The economy has shrunk 5 percent this year.
Investment flows have dried up and the country has been overtaken by neighbouring Thailand in terms of direct investment since 2001 and the portfolio flows turned negative to the tune of 92.3 billion Malaysian ringgit ($ 26.10 billion) in 2008.
In the first quarter of 2009 they remained negative to the tune of 12.2 billion ringgit, even as investment in other emerging Asian economies has recovered. Malaysia’s stock market has risen 20 percent this year, underperforming a 30 percent rise in Asian markets excluding Japan.
‘This move will definitely encourage investors to rethink or reconsider Malaysia amid the many choices (in The region) such as Thailand, Vietnam, and Indonesia, “said Wan Suhaimie Wan Saidie, economist at Malaysia’s Kenanga investment bank.
Stock Investor Challenge 5 in 2010
Stock Report May 3rd, 2010
JAKARTA – At the upcoming 2010 will be many challenges for stock investors. At least, there are five challenges that must be observed. If not able to make investors dizzy.
First, political factors, in which the coalition government was not as strong as expected. The government is also still struggling with the case of Century and the possibility of cases that hit Indonesia in the front.
As at February 2010, is expected to appear results Century Bank case. However, investors and the market must get ready to anticipate the results that came out later.
“If the results do not match, please heartburn market. If this happens, we’ll see where the officials who were victims. Or such a solution versus alligator lizard, suddenly disappeared from circulation,” said PT Bhakti Securities analyst Budi Ruseno, when exposure Outlook 2010, the MNC Tower, Jakarta, Wednesday (23/12/2009) afternoon.
Second, the existence of free markets-China Indonesia. Began in January 2010, ASEAN includes Indonesia will perform a free market with China. Where the impact will not immediately appear immediately, and predicted a new look at III/IV-2010 quarter.
“Remember, China 2008-2009 time poured massive stimulus. The result is a product of China’s abundant, excess inventory will be disposed of in various developing countries, including Indonesia,” he explained.
The effect, manufacturers increasingly uncompetitive Indonesia, crushed China products, factory closures, unemployment rises, until the worst scenario when a protracted social instability occurs.
Third, rising interest rates. We have the Fed lower interest rates apply 0-0,25 percent. As the economic recovery, inflation will increase, and the Fed will raise interest rates, could in the first or second quarter of 2010.
“We have signs already visible. U.S. dollar strengthened and commodities drop. In the long term rise in interest rates good for the U.S., but in the short term will result in capital outlow from countries outside the United States, including Indonesia,” he said.
Fourth, after the Fed raised interest rates, must Bank Indonesia (BI) will also raise interest rates to reduce interest rate spreads. Moreover, domestic inflation in 2010 is estimated much higher.
Fifth, price increases (fuel, LPG, electricity, etc.). After the delay is expected the government would raise the price in 2010. “It is estimated that in the II-III quarter of 2010, usually after Lebaran. This would trigger inflation and raise interest rates medicine,” he said.
Therefore, he predicts the prospect of JCI in 2010 was still quite good. But with pretty good potential for correction. “Unlike 2009, which increased fairly stable, JCI 2010 more volatile,” he concluded.
