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.
Vale announces layoffs amid slumping nickel prices
Mining giant Vale is conducting job cuts across its global operations in response to the ongoing decline in nickel prices. While the company has not disclosed the number of employees affected in Sudbury, Ontario, it confirmed the layoffs will primarily target "non-operating roles."
PT Bangun Kosambi Sukses prepares for IPO, targets up to Rp2.3 trillion
PT Bangun Kosambi Sukses, a subsidiary of PT Pantai Indah Kapuk Dua (PANI), is set to go public with its initial public offering (IPO) on the Indonesia Stock Exchange (IDX).
bp-Saipem Consortium sign US$3.5 billion CCUS, EPCI contract
British multinational oil and gas company, bp, has signed a Rp56.5 trillion (US$3.5 billion) project with partner contractors of Saipem Consortium − Engineering, Procurement, Construction, and Installation (EPCI) company PT Meindo Elang Indah and PT JGC Indonesia, a subsidiary of Japanese JGC Holdings Corporation − for Carbon Capture, Utilization, and Storage (CCUS) and EPCI work contracts of the Tangguh Ubadari National Strategic Project (Tangguh UCC).
PT Inalum prepares for first IPO to boost market capitalization, liquidity on IDX
PT Indonesia Asahan Aluminium (Inalum), a mining company under the Mining Industry Indonesia (MIND ID) holding company, is preparing to conduct its first initial public offering (IPO) on the stock exchange.
Antam allocates US$723 million for mining exploration, targets growth
State-ownwed diversified miner PT Aneka Tambang (Antam) has allocated US$723 million (Rp11.46 trillion) in Capital Expenditure (Capex) that will be used for gold, bauxite, and nickel exploration over the next five years.
Chandra Asri Petrochemical plant in Cilegon reaffirmed as national vital object
The government has granted the Petrochemical Plant in Ciwandan, Cilegon, Banten owned by petrochemical processing and manufacturing company PT Chandra Asri Pacific the status of National Vital Object in the Industrial Sector (OVNI), valid for five years until 2029.
Bank Mandiri plans to increase financing in the mining sector
PT Bank Mandiri (BMRI) has planned to increase financing in the mining sector, taking advantage of available opportunities as many other banks avoid jumping into this sector financing.
Antam plans to acquire domestic, international gold mines
State-owned mining company PT Aneka Tambang (Antam), a company incorporated in the holding company PT Mineral Industri Indonesia (MIND ID), has planned to explore and acquire gold mines, both domestically and abroad.
BP invests US$7 billion in oil & gas, energy projects in Indonesia
British Petroleum (BP) has agreed to put an investment of US$7 billion in support of the Tangguh Ubadari, Carbon Capture Utilization & Storage (CCUS), and Compression (UCC) projects in Indonesia upon an assessment meeting between the British oil&gas company and the Upstream Oil and Gas Regulatory Task Force (SKK Migas).
Retno Marsudi joins Singapore's Gurin Energy as non-executive director
Retno Marsudi, Indonesia’s Foreign Minister from 2014 to 2024, has been appointed as a Non-Executive Director at Gurin Energy.
Shell dismisses reports of closure of all refueling stations in Indonesia
PT Shell Indonesia has confirmed that viral reports about the closure of all its public fuel filling stations (SPBU) in Indonesia is not true.
PT Rainbow Tubulars set to boost production for domestic, export markets
Seamless steel tube producer PT Rainbow Tubulars Manufacture (RTM), a subsidiary of PT Sunindo Pratama (SUNI), has set the target for the new plant under construction to operate commercially in third quarter of 2025.