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.
Workers stage protest, demand severance pay, holiday allowance for laid-off Sritex employees
Thousands of workers are set to launch a series of protests in front of PT Sritex factory in Sukoharjo, Central Java, and the MInistry of Manpower in Jakarta from March 10 to March 15, 2025, as a show of solidarity for Sritex workers who were laid off in what is claimed to be illegal termination.
TSE Group builds first biogas plant in South Papua
Tunas Sawa Erma (TSE) Group, a company engaged in the palm oil sector, is building the first biogas plant in South Papua as part of an effort to reduce carbon emissions and support the green energy transition.
Government plans job reabsorption for Sritex workers after its recent bankruptcy
The Ministry of Manpower says that former workers of textile company PT Sri Rejeki Isman (Sritex) have the opportunity to return back to work at the same company, but has yet to decide on which of the company’s factories that are ready to accommodate them.
Who is the New CEO of MIND ID? His Career in Freeport, brother of Indonesia's Minister of Defense
The Indonesian government has appointed Maroef Syamsudin as the new CEO of state-owned mining holding company MIND ID, replacing Hendi Prio Santoso. Lawmakers and industry experts have emphasized that the decision falls entirely under the Ministry of State-Owned Enterprises (BUMN)'s authority.
BNI and SMI seal Rp550 billion deal to boost infrastructure financing
State-owned bank PT Bank Negara Indonesia (BNI) signed a strategic cooperation with the state-owned infrastructure financing company PT Sarana Multi Infrastruktur (SMI) through a repurchase agreement (Repo) transaction worth Rp550 billion (US$33.6 million) on Tuesday, March 4, 2025.
Malaysia’s Thong Guan Industries confirms US$7 million investment in KIT Batang
Malaysian plastic packaging manufacturers, Thong Guan Industries Bhd., has confirmed its US$ 7 million (Rp115 billion) commitment to invest in the Batang Integrated Industrial Estate (KIT Batang) in Central Java, Indonesia.
Former PTFI president named Chief of MIND ID
The Ministry of State-Owned Enterprises (SOEs) has confirmed the appointment of former president of PT Freeport Indonesia (PTFI) Maroef Sjamsoeddin as President Director of mining SOEs holding company MIND ID.
Delta Dunia Group renamed BUMA International Group
PT Delta Dunia Makmur (Delta Dunia Group, IDX: DOID) has officially changed its company name to PT BUMA Internasional Grup (BUMA International Group) upon securing approval from the Extraordinary General Meeting of Shareholders held on February 27, 2025.
Bukit Asam books records highest coal sales in history
State-owned coal mining company PT Bukit Asam (PTBA) booked total coal sales of 42.9 million tons throughout 2024, an increase by 16 percent from the previous year (yoy), marking the highest coal sales record in history.
MedcoEnergi discovers hydrocarbons in West Kalabau-1 Well, South Sumatra
PT Medco Energi Internasional (MedcoEnergi) through its subsidiary, PT Medco E&P Rimau, has announced the discovery of hydrocarbons in the West Kalabau-1 exploration well, Rimau Block, South Sumatra.
MIND ID sets example on combined CSR-CER programs
State-owned mining holding company MIND ID combines Corporate Social Responsibility (CSR) and Corporate Environmental Responsibility (CER) programs as example of mining industry’s contribution to regional economic growth and social welfare.
PLN pioneers in joining international carbon trading
State Power Utility PT PLN has taken the initiative, being the first Indonesian company, to get involved in international carbon trading.