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.
PHE posts better Q1 2025 performance, with oil and gas output at 1.04 M BOEPD
PT Pertamina Hulu Energi (PHE), the upstream subholding of Pertamina, posted better operational results in the first quarter of 2025, recording an oil and gas production level of 1.043 million barrels of oil equivalent per day (BOEPD), a slight increase from 1.042 million BOEPD in the same period last year.
PT PP to divest infrastructure subsidiaries in US$182 million deal to cut debt
State construction firm PT PP (PTPP) has announced plans to divest two of its infrastructure subsidiaries worth Rp3 trillion (US$182 million), aiming to streamline its business and reduce corporate debt.
Sun Energy launches ESG education initiative to support green energy transition
Sun Energy, a solar energy developer, launched its social pillar-focused ESG initiative on Wednesday, April 30, 2025, with a nationwide educational program titled SUN RISE (SUN Renewable Insight & Solar Expertise).
PGE bosts revenue of US$101.51 million in Q1 2025
State-owned geothermal company PT Pertamina Geothermal Energy (PGE) booked strong performance in the first quarter of 2025, posting revenues of US$101.51 million as of March 31, 2025.
Indorama to invest in U.S. blue ammonia project to counter tariffs, expand portfolio
Coordinating Minister for the Economy Airlangga Hartarto reveals that Indonesia’s Indorama Corporation is set to invest US$2 billion (Rp34 trillion) in the United States to develop a blue ammonia project in Louisiana, a move part of the company’s global expansion strategy and a response to increasing U.S. trade barriers.
Huayou plans US$20 B expansion for RI’s EV ecosystem, industrial clusters
Chinese mining and battery materials company Zhejiang Huayou Cobalt Co Ltd is preparing to expand its investment in Indonesia by a staggering US$20 billion (Rp335 trillion), according to Minister of Investment and Head of the Investment Coordinating Board (BKPM), Rosan P. Roeslani.
LG maintains commitment to Indonesian battery investment
Despite initial setbacks, LG remains strongly committed to its investment in Indonesia’s electric vehicle (EV) battery ecosystem, said Investment and Downstreaming Minister Rosan P. Roeslani on Tuesday, April 29, 2025.
GKP pays over US$7 million in tax, non-tax contribution since 2007
In conjunction with Southeast Sulawesi Province’s 61st anniversary celebration, PT Gema Kreasi Perdana (GKP) reaffirmed its commitment to sustainable regional development by contributing more than US$7.25 million to the state through taxes and non-tax revenues (PNBP) since the issuance of its mining permit in 2007.
President Prabowo projects Danantara’s wealth could reach US$1 trillion
President Prabowo Subianto has expressed optimism about the potential of the Daya Anagata Nusantara Investment Management Agency (BPI Danantara), stating that its total wealth could reach US$1 trillion (Rp16,837 trillion) if managed effectively.
Danantara finalizes SOEs consolidation to strengthen RI’s economic sovereignty
The Daya Anagata Nusantara Investment Management Agency (BPI Danantara) has completed the consolidation of state-owned enterprises (SOEs) under its new holding entity, Danantara Indonesia.
Purbalingga’s pineapple brand “NanasQu” goes global
A tropical delight from the heart of Purbalingga has made its way onto the global stage. NanasQu, a local micro-enterprise supported by State energy company PT Pertamina, is now exporting its processed pineapple products to countries like China, South Korea, Saudi Arabia and Turkiye.
BNI posts 10.1 percent loan growth, net profit at Rp5.4 trillion in Q1 2025
PT Bank Negara Indonesia (BNI) booked strong financial performance in the first quarter of 2025, with loan disbursements growing by 10.1 percent year-on-year (yoy) to Rp765.47 trillion (US$45.5 billion) and third-party funds increasing by 5 percent yoy to Rp819.6 trillion.