Friday, December 13, 2024
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 Ministry of Energy and Mineral Resources (ESDM) confirmed that the 2024–2060 National Electricity General Plan (RUKN) aligns with Indonesia’s 8% economic growth target. Pramudya, ESDM’s Electricity Generation Planning Coordinator, highlighted the importance of reliable electricity infrastructure to support industrial growth, particularly in mineral downstreaming. Critical minerals like nickel and cobalt are central to Indonesia’s battery industry, enabling renewable energy integration. The RUKN emphasizes electricity availability for smelters and mineral processing while advancing the energy transition.

Indonesia’s BKPM targets 16.75% annual investment growth to achieve 8% economic growth by 2029, requiring $13.5 trillion in investments. A new mandate integrates downstreaming to boost economic transformation, aiming to attract $618B by 2040, create 3M jobs, and grow exports.

Amnesty International Indonesia urged President Prabowo Subianto to replace National Police Chief General Listyo Sigit Prabowo, citing rampant ethical and procedural violations. Executive Director Usman Hamid highlighted frequent police violence, including incidents during August 2024 protests where 579 civilians were victimized. Amnesty recorded 116 violence cases in 2024, with notable incidents in November sparking public debate. Hamid declared a “state of police violence emergency,” attributing the issue to systemic failures and lack of accountability. He called for police reform, emphasizing human rights, transparency, and public oversight to address recurring abuses and safeguard citizens’ freedoms.

Indonesia’s 3M homes program attracts Qatar & UAE investors for 1M homes yearly. Key challenges—land, licensing, financing—are being addressed via a planned housing law. BP Tapera managed Rp8.12T by 2022, signaling strong investment potential to boost housing & economy.

XL Axiata, Smartfren Telecom, and Smart Telcom merged to form XLSmart, valued at $6.5B, with Axiata Group and Sinar Mas Group holding equal stakes. The merger aims to bridge Indonesia’s digital divide, enhance connectivity, and support digital transformation. XLSmart will improve services, expand market reach, and boost ASEAN regional connectivity.

PT PLN will launch the Karangkates floating solar plant in East Java by 2026, partnering with GD Power Development. Projects at Saguling and Singkarak with Acwa Power are also in progress. PLN, alongside EBTKE, is evaluating 38 reservoirs to expand renewable energy and support Indonesia’s green energy transition.

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.

Darmawan Prasodjo, President Director of State power utility PT PLN, has been named CEO of the Year for the third consecutive time at the CNBC Indonesia Awards 2024 presentation ceremony held on Wednesday, December 11, 2024. […]
PT Bank Maspion Indonesia (BMAS) is on track for significant growth following its acquisition of a controlling stake by Thailand’s second-largest bank, KBank. The move opens up possibilities for corporate actions such as mergers and acquisitions (M&A) within Indonesia’s banking sector. […]
State-owned construction company PT Wijaya Karya (WIKA) has confirmed discussions regarding a potential merger with fellow state-owned company PT PP (PTPP). If the merger proceeds, the combined entity is expected to focus on large-scale infrastructure projects such as ports, airports, factories, and residential developments. […]
Indonesian Air Force Chief of Staff, Air Chief Marshal Mohamad Tonny Harjono, has emphasized the importance of implementing Artificial Intelligence (AI) and cyber technology in strengthening the country’s air defense. […]

New opportunities

State power utility PT PLN has announced that its floating solar power plant (PLTS) in collaboration with HK based GD Power at the Karangkates Reservoir in East Java will commence operations by 2026. […]
The Ministry of Energy and Mineral Resources (ESDM) has confirmed that the draft National Electricity General Plan (RUKN) for 2024–2060 is aligned with the government’s ambitious economic growth target of 8 percent. […]
Indonesia is making significant strides toward developing nuclear power as part of its long-term energy strategy, with regulatory studies and preparations for Nuclear Power Plants (PLTN) establishment underway. […]
Indonesia and Norway have launched the fourth phase of their result-based contribution (RBC) partnership, committing US$60 million (Rp952 billion) based on emission reductions achieved during the 2019-2020 period. […]
Minister of Investment and Downstream/Head of the Investment Coordinating Board (BKPM) Rosan Perkasa Roeslani emphasizes that Indonesia has great potentials and is the right business partner for multinational companies, in particular European ones. […]
Nvidia, a technology company from the United States, has set up an artificial intelligence (AI) research and development center and data center in Vietnam following an agreement signed on Thursday, December 5, 2024 in Hanoi, attended by Nvidia CEO Jensen Huang and Vietnamese Prime Minister […]
The Association of Indonesian Oil and Gas Companies (Aspermigas) assesses that the energy self-sufficiency target set by President Prabowo Subianto will be difficult to achieve if illegal drilling is still rampant. […]
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 […]