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.
TBS Energi Utama allocates US$600 M to speed up transition away from coal by 2030
PT TBS Energi Utama (TOBA) has allocated around US$600 million (Rp10.05 trillion) in capital expenditure until 2030 to fund a portfolio of renewable-energy and green-business projects.
ARCI shares soar 424 percent following recent geothermal expansion
Gold and silver mining company, PT Archi Indonesia (ARCI) have moved fast in expanding its business toward the geothermal energy sector, with its shares soaring by up to 424 percent.
Neo Energy prepares IPO as Gotion High-Tech reported to join as strategic partner
Nickel and battery materials company PT Anugrah Neo Energy Materials (ANEM) is reportedly preparing for an initial public offering (IPO) on the Indonesia Stock Exchange (IDX) by the end of this year amidst market rumors that the company has begun the Pre-Deal Investor Education (PDIE) process ahead of its public listing.
Indonesia to begin construction of Bukit Asam’s DME production plant next year
Energy and Mineral Resources (ESDM) Minister Bahlil Lahadalia has announced that the construction of PT Bukit Asam’s (PTBA) dimethyl ether (DME) production facility could begin next year, pending a final decision expected next month.
Eni–Petronas joint venture to launch eight gas projects in Indonesia, Malaysia
Italian energy major Eni SpA and Malaysia’s Petronas are set to jointly launch eight new upstream gas projects across Indonesia and Malaysia within the next three years through their newly established joint venture, NewCo, in what the companies describe as a key step toward strengthening regional energy security and accelerating gas development.
Attorney General’s Office probes Telkom’s investment in GoTo
The Attorney General’s Office (AGO) has launched an investigation into state-owned telecommunications giant PT Telkom Indonesia’s (TLKM) investment in tech firm PT GoTo Gojek Tokopedia (GOTO), a legal move that adds fresh scrutiny to one of the country’s most high-profile digital sector tie-ups.
Superbank poised for IPO, targeting late 2025 listing on Indonesia Stock Exchange
PT Super Bank Indonesia (Superbank), a digital bank under the Elang Mahkota Teknologi (Emtek) Group, is signaling stronger intentions to go public through an initial public offering (IPO) on the Indonesia Stock Exchange (IDX) and reportedly targeting a listing by the end of the year.
Merdeka Copper Gold to invest US$1.5 B in Tujuh Bukit underground copper mine
Mining company PT Merdeka Copper Gold (MDKA), part of the Saratoga Group owned by Garibaldi “Boy” Thohir, plans to invest around US$1.5 billion (Rp25.02 trillion) to develop the Tujuh Bukit underground copper mine in Banyuwangi, East Java.
RSPO focuses on expanding palm oil partnerships in China, Africa, Middle East
The Roundtable on Sustainable Palm Oil (RSPO) is set to expand efforts to strengthen sustainable palm oil partnerships in China, Africa, and the Middle East, regions showing rapid market growth and increasing demand for certified products.
Pam Mineral shares surge 278 percent in 2025, profit doubles amid regulatory challenges
Shares of nickel miner PT PAM Mineral (NICL) have skyrocketed by 278.85 percent year to date (ytd) in 2025, with Tuesday’s, November 4, 2025 trading session exposing the stock climbed by another 2.07 percent to Rp985, pushing its market capitalization to Rp10.48 trillion (US$1.2 trillion).
Pupuk Indonesia begins construction of nation’s first soda ash plant
State fertilizer company PT Pupuk Indonesia has begun the construction of Indonesia’s first soda ash (sodium carbonate) plant, with a total investment of Rp5 trillion (US$299 million), financed by the company and national banks.
Danantara eyes 35 percent stake in Lotte Chemical’s US$3.9 B petrochemical plant
Indonesia’s sovereign wealth agency, BPI Danantara, is reviewing an offer to acquire a 35 percent ownership stake in Lotte Chemical’s petrochemical complex in Cilegon, Banten, said Danantara CEO Rosan P. Roeslani.