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.
Ardhantara to inject renewable energy assets into Futura Energi Global
Indonesia’s Ardhantara Group, the new controlling shareholder of PT Futura Energi Global (FUTR), plans to inject renewable energy assets into the publicly listed energy firm, including the Gunung Slamet geothermal project currently being developed by its subsidiary PT Sejahtera Alam Energy (SAE).
Superbank denies go-public for 2025 IPO despite strong signals
PT Super Bank Indonesia, better known as Superbank − a digital bank under PT Elang Mahkota Teknologi (Emtek Group) − is reportedly preparing to go public on the Indonesia Stock Exchange (IDX) through an initial public offering (IPO) following plans for an investor education meeting in mid-October 2025.
Shell Indonesia yet to decide on buying base fuel from Pertamina amid supply shortage
Fuel supply at Shell gas stations across Indonesia remains unavailable and it remains unclear when stock levels will return to normal.
PACK expands into mineral mining with dual acquisitions in Southeast Sulawesi
Plastic packaging producer PT Abadi Nusantara Hijau Investama (PACK) has announced the acquisition of shares in two mineral mining companies located in North Konawe, Southeast Sulawesi, through its two subsidiaries.
TikTok’s electronic registration suspended over August protest live streams
The Ministry of Communication and Digital Application (Komdigi) has temporarily suspended the Electronic System Operator Registration Certificate (TDPSE) of TikTok Pte. Ltd. after the platform failed to provide complete data on its live streaming activities during nationwide protests in late August.
Freeport agrees to divest 12 percent shares to Indonesia free of charge
Freeport-McMoRan has agreed to divest 12 percent of its shares in PT Freeport Indonesia to the Indonesian government at no cost, according to Rosan P. Roeslani, CEO of the state-owned investment management agency BPI Danantara.
Vivo cancels base fuel purchase from Pertamina over ethanol content concerns
PT Vivo Energy, operator of Vivo gas stations in Indonesia, has withdrawn from an agreement to purchase imported base fuel from state-owned energy company Pertamina, said Achmad Muchtasyar, Deputy Director of Pertamina Patra Niaga, during a hearing with Commission XII of the House of Representatives on Wednesday, January 10, 2025.
Antam targets US$6 billion nickel downstream, EV battery ecosystem in Indonesia
State-owned mining company PT Aneka Tambang (Antam) has unveiled an ambitious plan to spearhead Indonesia’s nickel downstream industry and establish a complete electric vehicle (EV) battery ecosystem.
TikTok fined Rp 15 billion for delayed notification of Tokopedia acquisition
The Indonesian Business Competition Supervisory Commission (KPPU) has imposed a fine of Rp15 billion (US$967,741) on TikTok Nusantara (SG) Pte. Ltd. for failing to timely notify the acquisition of a majority stake in PT Tokopedia.
Patriot bonds draw major interest from Indonesian conglomerates
Dozens of Indonesia’s wealthiest business figures are reportedly showing interest in the Patriot Bonds issued by the state-owned investment agency BPI Danantara, with funds raised reaching Rp51.75 trillion (US$3.1 billion).
Antam emphasizes on collaboration with local governments, stakeholders on artisanal mining
State miner PT Aneka Tambang (antam) has proposed a collaborative approach wilh local governments and stakeholders in an effort to tackle the challenges posed by artisanal mining in the country.
Prabowo slams SOEs mismanagement, puts faith in Danantara for jobs, growth
President Prabowo Subianto has renewed his commitment on the Indonesian people’s livelihood, citing that the establishment of the state investment management agency BPI Danantara’s will help create millions of jobs.