Thursday, March 23, 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.

The Indonesian government is awaiting the submission of PT Freeport Indonesia’s request for an early extension of its special mining business permit. The current permit will expire in 2041. Meanwhile, the extension of a special mining business permit can only be granted at least 5 years before the permit expires.

PT Waskita Beton Precast (WSBP) is a publicly traded Indonesian state-owned enterprise (SOE) founded in 2014 and a subsidiary of PT Waskita Karya (Persero). It is the country’s largest producer of precast and mixed concrete. The company intends to invest IDR 80 billion (US$ 5.2 million) in capital expenditure (Capex) to develop Indonesia’s New Capital, Nusantara, in East Kalimantan.

Moscow is working on simplifying visa procedures for six of its friendliest countries, including Indonesia, due to the recent drop on tourist number in Russia. The other nation receiving the simplifying visa procedures are Angola, Vietnam, Syria and the Philippines.

When President Joko “Jokowi” Widodo, Defense Minister Prabowo Subianto and Central Java Governor Ganjar Pranowo gathered during a rice harvest event in Kebumen, Central Java, on March 9, 2023, many speculated that the president endorse the two presidential hopefuls for the 2024 election.

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.

The majority of the company’s IDR 80 billion in Capex will be spent on projects in Nusantara. The remaining Capex will go toward building maintenance and the completion of the Waskita Beton project’s land acquisition. “In essence, we are picky about how we spend the […]
The Indonesian government is awaiting the submission of PT Freeport Indonesia’s request for an early extension of its special mining business permit. The current permit will expire in 2041. “We are currently waiting for Freeport to request an extension,” Minister of Energy and Mineral Resources […]
Air Product and Chemical Inc. has decided not to pursue two downstream coal development projects in Indonesia. The company decided to withdraw from its coal gasification into DME collaboration with PT Bukit Asam Tbk (PTBA) and PT Pertamina. It also decided not to continue their […]
PepsiCo and FrieslandCampina have suspended imports from Astra Agro Lestari, Indonesia’s second-largest palm oil company, Astra Agro Lestari (AAL), following an investigation into environmental and human rights violations committed in Central and West Sulawesi, Indonesia. The US and Dutch multinationals are the latest in a […]

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PT Catur Sentosa Adiprana Tbk (CSAP) allocates IDR 1.3 trillion (US$ 84.4 million) Capital expenditure (Capex), for expansion in distribution and modern retails. […]
Bottled water company PT Sariguna Primatirta Tbk (CLEO) budgeted IDR 300 billion (US$ 19.5 million) Capital expenditure (Capex) in 2023 for its factory expansion in Lampung and Manado. […]
Real estate development company Sinar Mas Land (SML) and entrepreneur ecosystem builder KUMPUL.ID held the Digital Hub Next Action (DNA) Demoweek to support startups in finding angel investors, venture capitalists, and investors. […]
Moscow is working on simplifying visa procedures for six of its friendliest countries, including Indonesia, due to the recent drop on tourist number in Russia. The other nation receiving the simplifying visa procedures are Angola, Vietnam, Syria and the Philippines. The selection was clearly not […]
The Bogor Agricultural University (IPB) Rector Arif Satria and the Chancellor of Shizuoka Professional University of Agriculture (SPUA) Shigehiko Suzuki signed a Memorandum of Understanding (MoU) related to agriculture and vocational education on March 2, 2023. […]
To enhance collaboration and bilateral ties in different domains, the Indonesian Ambassador to Sri Lanka Dewi Gustina Tobing met with Sri Lankan Prime Minister Dinesh Gunawardena at the latter’s office in Sri Lanka on March 4, 2023. During the meeting, Tobing urged her counterpart to initiate […]
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 […]