Friday, February 3, 2023
Indonesia Business Post Media Group aims to promote Indonesia’s business transparency and investment opportunities to global companies and investors. We provide information on business intelligence and opportunities within Indonesian political changing-driven international business context.

Instead of terminating the copper concentrate exports of PT Freeport Indonesia (PTFI) and PT Amman Mineral Nusa Tenggara (AMNT), the government can impose sanction on the two giant gold and copper producers.

Gold and copper giant PT Freeport Indonesia cannot complete its smelter construction in Gresik, East Java, by December 2023 even though the government may impose sanction if the company failed to do so. 

The Mixue ice cream and tea outlets have been mushrooming in Indonesia and it has gone viral in the past few months. Pandaily reported that the number of Mixue outlets in Indonesia reached 317 at the end of March 2022 and it has kept growing. With this figure, Mixue’s operating income reached 25,410,800 yuan or IDR 57.2 billion with a net profit of 2,235,500 yuan or around IDR 5.04 billion.

LNG transportation company PT GTS International Tbk (GTSI) has been allocating US$ 24 million Capital expenditure (Capex) for its 2023 business expansion due to the constantly increasing demand for liquefied natural gas (LNG) in Indonesia.

Image: @antaranews.com

Coal and electric vehicle company PT TBS Energi Utama Tbk (TOBA) – which 10% of shares are owned by Coordinating Minister for Maritime Affairs and Investment Luhut Panjaitan – has allocated between US$ 50 million and US$ 60 million of capital expenditure (Capex) for the year 2023. The Capex would be allocated for the development of the new EVs and the renewable energy with its subsidiaries.

Image: @Bayan resource

PT Bayan Resources Tbk. (BYAN) has absorbed capital expenditure (Capex) of US$ 166.2 million on the construction of a coal transport road, overland conveyor and a barge loading facility in Muara Pahu, East Kalimantan. The company seeks to increase its 2023 coal production targets to over 45 million tons, an increase compared to 2022 which was below 40 million tons.

Image: @Tribunnews

Investment Minister/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia announced that investment realization from January to September 2022 has reached IDR 892.4 trillion – or 74.4% of the target – both foreign and direct investments. He was upbeat that his ministry could reach a targeted investment of IDR 1,200 trillion for the year 2022.

Image: @ajaib.co.id

PT Galva Technologies Tbk (GLVA) has planned to allocate IDR 80 billion of Capex for 2023 to strengthen the company’s recurring income through managed services business model.

Freeport Indonesia will complete it’s smelter construction by December 2023 ,coordinating minister of economic affair says PT Freeport Indonesia will complete the construction of it’s copper smelter in Gresik , East Java based on schedule. Coordinating Minister for Economic Affair Airlangga Hartarto said that the […]
Gold and copper giant PT Freeport Indonesia cannot complete its smelter construction in Gresik, East Java, by December 2023 even though the government may impose sanction if the company failed to do so. […]
The overflow of made-in-China and local counterfeit products in Indonesia has resulted in economic losses for local businesses and international brands. The K&K Advocates-Intellectual Property said that Indonesia suffered financial losses of IDR 291 trillion (US$ 19.41 billion) due to fake goods in 2020. It […]
Instead of terminating the copper concentrate exports of PT Freeport Indonesia (PTFI) and PT Amman Mineral Nusa Tenggara (AMNT), the government can impose sanction on the two giant gold and copper producers. […]

New opportunities

The largest privately owned PT Bank Central Asia Tbk (BCA) allocates Capital expenditure (Capex) of IDR 8.7 trillion (US$ 583.7 million) in 2023 for a new data center infrastructure. […]
The cosmetic industry in Indonesia is growing at a fast pace, due to the rising consumers’ demand and an expanding market for cosmetics. On average, the per capita consumer spending on cosmetics and toiletries in Indonesia amounted to US$ 20.2, statisca.com reported. The value is predicted to […]
The Financial Services Authority (OJK) reported a significant increase in non-performing loans (NPLs) for over 90 days from fintech P2P lending platforms. As of October 2022, the NPLs had risen to IDR 1.42 trillion (US$ 95.3 million), a 140.78% increase from from the previous year of IDR 593.44 billion. […]
Indonesia and North Korea have seen a continuously declining trend in bilateral trades although both countries had a blossoming diplomatic relations during the Cold War. During Indonesia’s First President Sukarno era, trade between the two countries had flourished and has been ongoing even until […]
As the ASEAN 2023’s Chairman, Indonesia hopes to bring stability and prosperity in the region on various issues, including climate change, cyber security, digital economy and disruption of the regional supply chain. Therefore, the government must create a strong foundation of cooperation so that ASEAN […]
President Joko “Jokowi” Widodo met with the newly elect Malaysian Prime Minister Anwar Ibrahim at the Bogor Presidential Palace on January 9, 2023, to discuss on, among others, the palm oil industry in both countries and Indonesia’s migrant workers. […]
President Joko Widodo said Indonesia aims to cut its fiscal deficit to less than 3% of its gross domestic product next year for the first time since 2019. […]
Indonesian government officials should remain vigilant against the potential threat to the state ideology, the nation’s peace and harmony, despite the decline in online radicalization following the defeat of the Islamic State of Iraq and Syria in the Middle East and worldwide. In an era […]
The program, dubbed the “Partnership for Global Infrastructure and Investment” (PGII), aims to mobilize $600 billion by 2027 in investments for infrastructure in developing countries with an emphasis on sustainable and secure development. Neither President Biden nor the White House fact sheet explicitly mentioned China […]
Governor of Bank Indonesia (BI) Perry Warjiyo gave the latest signal regarding the benchmark interest rate which is currently at its lowest level of 3.50 percent. According to Perry, the national economic condition is still conducive enough to continue the BI rate policy going forward. […]
Ex-terror convict Abu Bakar Ba’asyir, known as the spiritual leader of shadowy militant group Jemaah Islamiyah that aims to establish an Islamic state in Indonesia, did the unthinkable on Wednesday as he participated in the Independence Day ceremony at his boarding school in the Central […]
Both of United Kingdom and Germany also other Europe countries have been predicted they will go and meet energy crisis as the impacts of Russia’s invasion in Ukraine. The UK’s Green Party has proposed permanently nationalizing the country’s five major energy companies to ease the […]