Corporate Affairs
Uncovers the dynamics of state-owned enterprises and corporate giants with a vibrant and insightful approach, making the corporate world both fascinating and accessible.
Perplexity AI makes US$34.5 B all-cash bid to acquire Google’s Chrome browser
Perplexity AI, the fast-growing startup led by CEO Aravind Srinivas and valued at US$18 billion (Rp291.9 trillion), has submitted an official all-cash offer of US$34.5 billion to acquire Google’s Chrome browser − despite its own market valuation being less than half the bid amount.
Toll road operators still awaiting formal discussions on MLFF system model
Secretary General of the Indonesian Toll Road Association (ATI), Krist Ade Sudiyono, said that, to date, there have been no formal discussions between toll road operators (BUJT), the project executors of the Multi-Lane Free Flow (MLFF) system, and the government regarding business model for toll collection under the system.
MLFF Project implementation delayed due to unresolved business model
Delayed implementation of the Multi-Lane Free Flow (MLFF) toll collection system in Indonesia is attributed to the absence of a clear business model between toll road operators (BUJT) and the prospective operator Roatex, which involves crucial discussions around core business functions, profit-sharing mechanisms, wages, and security protocols.
Fortune Indonesia unveils 2024 list of top 100 companies by revenue
Fortune Indonesia has released its 2024 list of the 100 largest companies in the country, ranked by revenue, with companies on the list reporting a minimum revenue of Rp11.42 trillion (about US$700 million), up from last year’s threshold of Rp10.54 trillion.
Seven companies set to launch IPOs on IDX by end-2025
The Indonesia Stock Exchange (IDX) has announced that seven companies are preparing to go public through initial public offerings (IPOs) by the end of 2025, with asset sizes ranging from medium to large scale.
Three regions, 22 investors show interest in building urban cable car systems
The Ministry of Transportation has recorded growing interest in developing urban cable car systems across the country, with three regional governments and at least 22 investors expressing their commitment to explore the projects.
Surge acquires IJN shares to strengthen digital infrastructure network
Telecommunications infrastructure company, PT Solusi Sinergi Digital or Surge, through its subsidiary PT Jaringan Infra Andalan (JIA), has taken another bold step in its expansion strategy through a major share acquisition of PT Investasi Jaringan Nusantara (IJN) of Rp 599 billion (US$37 million).
Toyota to build new factory in Japan amid shifting market dynamics
Toyota Motor Corporation has planned to build a new automobile manufacturing plant in one of Japan cities, with operations expected to begin in early 2030.
Controversy flares over neglected commitments in Pangandaran fish farming project
A heated debate has erupted over the installation of floating fish cages (KJA) along the East Coast of Pangandaran, West Java, sparking backlash from local communities, tourism stakeholders, and environmental advocates, including former Maritime Affairs and Fisheries Minister Susi Pudjiastuti.
Harita Nickel launches tailing recycling project to reduce waste, boost efficiency
PT Trimegah Bangun Persada (Harita Nickel) is taking measures to reduce environmental impact and enhance operational efficiency by launching a pilot project aimed at recycling tailings (SHP) from its nickel processing operations.
Rukun Raharja sets sights on LNG infrastructure to strengthen energy portfolio
Energy firm PT Rukun Raharja (RAJA), controlled by Hapsoro Sukmonohadi − husband of House of Representatives (DPR) Speaker Puan Maharani − has planned to expand its energy portfolio through an LNG infrastructure acquisition amidst modest increase in revenue for the second quarter (Q2) of 2025.
Pertamina EP investigates Subang gas pipeline explosion, ensures site safety
State-owned oil and gas drilling company PT Pertamina EP is investigating the explosion at the CO2 Removal gas line of the Subang Gathering Station in Cidahu Village, Pagaden Barat Sub-district, Subang regency, West Java at about 4:30 a.m. on Tuesday, August 5, 2025.