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You sell on open account without Trade Credit Insurance? Time to think again….

With the present economic turmoil caused by the Corona Virus and fall in commodity prices many companies, also large and reputable ones, might come into serious financial difficulties without giving warning signs and within a short time frame. Airlines, Hotels, Retailers and the Entertainment Industry are only some examples which are obvious for everybody – many other companies in other industries might not be on everybody’s radar screen yet. One mitigation strategy to avoid bad debt but still keeping competitive by selling on open account is to have a Trade Credit Insurance in place. What is a trade credit insurance? A Trade Credit Insurance protects your business from bad debts as it insures your accounts receivable and protects your business from unpaid invoices caused by…

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March 18, 2020
Archive

Business interruption by the Coronavirus – various insurances you might have already do cover potential losses

PT PRIME Consultancy is offering a general risk assessment check for your company and the potential impact of identified risks to your Financials and Liquidity. We also work together with insurance experts which can identify gaps in your insurance coverage as part of the risk identification process. If factories or parts of the production line or offices have to be closed, suppliers cannot deliver or buyers cancel orders it can have a devastating effect on the companies Financials and liquidity situation. Please contact us for risk assessment inquiries: info@prime-consultancy.com. The following brief overview gives an idea which insurances might give you some protection - which you might have already: 1. Business Interruption & Contingent Business Interruption Coverage 2. Commercial General Liability, Directors & Officers, and…

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March 12, 2020
Archive

Omnibus Law for improving Investment Climate

Dear Readers, PRIME Consultancy would like to give you regularly updates about the so-called omnibus law that shall be upcoming soonest in 2020. This bill was first announced December last year and aims to overrule various regulations concerning different topics. After several failed attempts, a draft bill has been submitted to the House of Representatives on 12 February. Here are some of the recent developments on the bill that could significantly change the business climate in Indonesia: The draft is 1028 pages long containing 1200 articles covering 11 topics, with the main topics being job creation, taxation and SMEs. It shall be replacing in one go dozens of other laws with thousands of implementation regulations that are all together seen as the root of the…

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March 9, 2020
Newsletters

Strengthening After-Sales-Services and Maintenance in Compliance with the Indonesian Investment Law

The year 2019 will go down in Indonesia as one with investments underperforming and sluggish growth. In fact domestic and international factors led to declining exports and a GDP decrease now under 5%. In front of such a scenario, providers of investment goods and machinery see a need for focusing more on providing technical services to their clients than hoping for a quick market turnaround. If new orders are postponed, existing machinery will have to do the job and therefore strengthening after sales services is the call of such days to come. This creates heightened demand to add on to a representative office or wholesales company. For pro-active service programs and being able to supply spare-parts on time to safeguard customer satisfaction add-ons are required…

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October 24, 2019
Press

Leseempfehlung „Die Wahl wird in der Moschee entschieden“

MONTAG, 15.04.2019 F.A.Z. - WIRTSCHAFT „Die Wahl wird in der Moschee entschieden“ Diese Woche stehen Wahlen in Südostasiens größter Volkswirtschaft an. Dabei geht es um den wirtschaftlichen Kurs, aber auch um die zunehmende Islamisierung. JAKARTA, 14. April. All die neuen Brücken, Eisenbahnen, Häfen und Flughäfen sowie die erste U-Bahn in Jakarta, die gerade eröffnet wurde – sie können den Aufschwung Indonesiens verkörpern. Oder auch diese gelbe Box, am hinteren Rand einer Frachthalle am Flughafen Jakartas. Gesichert von einer Stahlschiebetür, öffnet sich ein blitzsauberer Raum, in dem blaue Fässer von BASF lagern und ein paar Kartons mit medizinischem Bedarf. Wer aus der grellen Sonne in die dunkle Halle tritt, den fröstelt bald. „Wir kühlen den Raum auf bis zu 2 Grad herunter“, sagt Vincent K.C. Yong.…

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April 14, 2019
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