Business and Investment
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MIND ID faces challenges in acquiring majority shares in Vale Indonesia
MIND ID (Mining Industry Indonesia), a state-owned mining holding company, is in a difficult position to acquire 51% of PT Vale Indonesia Tbk (INCO) shares.
Foreign investor eyes Indonesian multifinance sector
The acquisition of Indonesian multifinance entities by foreign financial companies is on the rise, with the recent example being MUFG Bank Ltd, a Japanese financial group, acquiring PT Mandala Multifinance Tbk (MFIN).
Pertamina and Petronas join hands in Ambalat
The Ambalat Block, an area once disputed by Indonesia and Malaysia, has become the area that brings the two neighboring countries together.
SBMA targets gas demand in IKN and Pertamina, anticipates demand wih a new factory
PT Surya Biru Murni Acetylene Tbk (SBMA), a company in the gas industry sector, wants to target an industrial gas project in the new Capital City (IKN) area, East Kalimantan.
Pertamina, Petronas, and INPEX forges partnership in Masela Block paving way for future development
Pertamina and Petronas are preparing a sales and purchase agreement (SPA) with Shell to transfer 35% participating interest in the Masela Block Liquified Natural Gas (LNG) project.
Forty percent mandatory domestic component ratio for incentives is too low, analyst says
The government's requirement of 40 percent mandatory domestic component ratio (Tingkat Komponen Dalam Negeri - TKDN) for electric vehicle manufacturers to receive incentive is considered to be too low.
Trimegah Bangun Persada plans a US$ 1 billion expansion for a new stainless steel factory
PT Trimegah Bangun Persada Tbk (NCKL) will expand its business by building a stainless steel factory worth US$ 1 billion, and expected to produce millions of tonnes per year.
Minister urges Freeport to construct a smelter in Papua as government demands an increase in the number of shares
Bahlil Lahadalia, Minister of Investment/Head of the Investment Coordinating Board (BKPM) urges PT Freeport Indonesia (PTFI) to build a metal mineral refining and processing plant or concentrate smelter in Papua.
Ministry invites major dredging companies to discuss sea sand export
Shortly after the issuance of Government Regulation No. 26 of 2023 on the management of marine sediments (Regulation 26/2023) on May 15, 2023, the Ministry of Maritime Affairs and Fisheries reportedly held a public consultation in Yogyakarta. The event was attended by government representatives, the Association of Sea Sand Entrepreneurs, and several companies. Notably, environmental activists and fishermen were not invited to the event.
Harita Nickel aims to export nickel sulfate to Korea, Japan
Mining company PT Trimegah Bangun Persada Tbk (NCKL), also known as Harita Nickel, is exploring opportunities to export nickel sulfate to other Asian markets after making successful export to China.
Minister Erick Thohir inaugurates SOEs joint office in Hong Kong as Indonesian Business Hub
Minister of State-Owned Enterprises (SOE), Erick Thohir, is set to launch Indonesia Incorporated (Inc). This reflects the commitment from the beginning to continuously drive state-owned enterprises to go global.
Bahlil Lahadalia holds talks with UL Solutions for EV battery testing facility
Bahlil Lahadalia, Indonesia's Investment Minister and Head of the Investment Coordinating Agency (BKPM), met with Underwriters Laboratories (UL) Solutions, a global company specializing in product certification and testing, in the United States on June 26, 2023.