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.
Sritex declared bankrupt following Supreme Court ruling
PT Sri Rejeki Isman Tbk (SRIL), commonly known as Sritex, has officially been declared bankrupt after the Supreme Court rejected its appeal on Wednesday, December 18, 2024, marking a critical turning point for the textile giant.
Gregory Hendra Lembong tipped to become CEO of BCA
PT Bank Central Asia (BCA) is reportedly planning to reorganize its board of directors by the end of 2024, with Gregory Hendra Lembong being anticipated as a strong candidate for the position of BCA’s President Director, succeeding Jahja Setiaatmadja, who is speculated to assume the role of BCA’s President Commissioner.
Bukit Asam-UGM team up to develop low-calorie coal into humic acid for fertilizer
State-owned coal mining company PT Bukit Asam (PTBA) is collaborating with the Gadjah Mada University (UGM) for research and development of low-calorie coal into humic acid.
Tanzania explores LNG investment, collaboration opportunities with Pertamina
The Tanzanian government delegation met with the Ministry of Energy and Mineral Resources (ESDM) to discuss Pertamina's investment plan in Tanzania and learn about processing Liquefied Natural Gas (LNG) with Indonesia.
PLN accelerates energy transition through media roundtable, startup collaborations
State power utility PT PLN on Tuesday, December 10, 2024 opened a Media Roundtable with four leading startups to accelerate the development of the green energy ecosystem.
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.