Business and Investment
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Bank Danamon targets double-digit loan growth in 2024
A senior officer with PT Bank Danamon Indonesia (BDMN) reveals that the bank aims for double-digit loan growth in 2024 upon monitoring positive trend of the bank's lending so far.
PSN collaborates with India's Elena Geo Tech to develop satellite-based PNT system
Indonesian satellite company, PT Pasifik Satelit Nusantara (PSN), is partnering with Bengaluru-based navigation product manufacturer, Elena Geo Tech Pvt Ltd, to develop Indonesia's satellite-based Positioning, Navigation, and Timing (PNT) system.
Plastic industry investment worth US$27.08 billion postponed over new regulation
The Indonesian Olefin, Aromatic, and Plastic Industry Association (Inaplas) has reported that investments in the plastic industry amounting to US$27.08 billion (Rp439 trillion) have been postponed following the implementation of Ministry of Trade Regulation No. 8/2024.
BNI allocates Rp1.9 trillion for IT enhancement to boost digital security
PT Bank Negara Indonesia Tbk (BNI) has allocated a capital expenditure (capex) of Rp 1.9 trillion (US$117 million) for information technology (IT) enhancement this year aimed at bolstering digital security, particularly for customer data.
PUPR ministry to build Memberamo-Elelim road segment of Trans Papua network
The Ministry of Public Works and Housing (PUPR) is set to construct the Rp 3.3 trillion (US$202.7 million) Memberamo-Elelim road segment, a crucial part of the Trans Papua network designed to connect the capital of Papua Mountains province, Wamena, with the capital of Papua Province, Jayapura.
SKK Migas targets 133 upstream oil and gas projects by 2029
The Upstream Oil and Gas Regulatory Task Force (SKK Migas) aims to develop 133 non-National Strategic Projects (PSN) in the upstream oil and gas industry by 2029, with a total investment of Rp58 trillion (US$3.5 billion).
ALBA Group to build plastic recycling plant in Kendal Industrial Park
ALBA Group is constructing a plastic waste recycling plant in Kendal Industrial Park, Central Java, with a capacity of 36,000 tons per year that will require approximately 48,000 tons of PET bottle waste annually.
BI-ASEAN Central Banks complete phase 3 blueprint of Project Nexus
The Indonesian Central Bank (BI), along with the central banks of four other ASEAN countries, has completed the Phase 3 blueprint of Project Nexus, aimed at enabling participating countries to achieve faster and smoother domestic instant payment interconnections.
Starlink partners with FiberStar to enhance internet connectivity in Indonesia
Starlink, through its enterprise division Starlink Service Indonesia, has partnered with FiberStar, a leading telecommunications infrastructure provider in Indonesia, to deliver reliable satellite internet access across the country.
Nusantara infrastructure acquires stake in Trans Java toll road
PT Nusantara Infrastructure (META), through its subsidiary PT Margautama Nusantara (MUN), has joined a consortium comprising Government of Singapore Investment Corporation (GIC) and Metro Pacific Tollways Corporation (MPTC) to acquire a 35 percent stake in PT Jasamarga Transjawa Tol (JTT), the operator of the Trans Java Toll Road.
Eni to sell US$4.3 billion in upstream oil, gas assets to fund energy transition
Italian energy giant Eni is reportedly preparing to sell its global upstream oil and gas assets valued at over US$4.3 billion (Rp 70.5 trillion) as part of the strategy to fund its energy transition plans.
Akatara gas facility commences operations
Jadestone Energy (Lemang) Pte. Ltd. has completed the construction of the Akatara gas facility and initiated the first gas flow from the well to the facility, marking a significant milestone in the commercialisation of gas resources in Jambi Province.