Investment and Risk
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Greenlabs biochemical startup seeks more funding for RnD, production
Greenlabs, a startup in sustainable biochemicals with valuation of IDR 75 billion (US$ 5 million), aims to increase plant-based oil for economic value and the welfare of oil palm smallholders in the future. The company seeks more investors to support its research and development (RnD) and production.
Pertamina Geothermal Energy successfully conducts IPO, amidst opposition
The much anticipated Initial Public Offering (IPO) of PT Pertamina Geothermal Energy (PGE) has been oversubscribed 3.8 times on the first day of its listing despite the fluctuating price per share which touched IDR 825 from the offering of IDR 875 on February 24, 2023.
Astra Graphia allocates IDR 200 billion Capex to facilitate its growing business
Office equipment trading company PT Astra Graphia Tbk (ASGR) has allocated IDR 200 billion (US$ 13.14 million) Capital expenditure (Capex), a 20% higher than its 2022's allocation. The company will use the fund to facilitate its business and development of its transformative business.
Astra Otoparts budgets IDR 500 billion Capex for business expansion, EV components
Automotive component producer PT Astra Otoparts Tbk (AUTO) has budgeted IDR 500 billion (US$ 32.92 million) Capital expenditure (Capex) to facilitate its work in the new type of Original Equipment of Manufacturer (OEM), implementation of digitization and automation. The company will also expand its business to the electric vehicle (EV) components.
BSD to develop a digital hub in BSD City with 2023 Capex of IDR 2.5 trillion
Real estate developer PT Bumi Serpong Damai Tbk (BSDE) will develop a 25-hectare (ha) office area dedicated for technology-based companies or startups by allocating IDR 2.5 trillion (US$ 164.6 million) Capital expenditure in 2023.
AKR Corporindo injects IDR 22.6 billion to its subsidiary Akrida
Logistics and supply chain company PT AKR Corporindo Tbk (AKRA) has injected capital of IDR 22.6 billion (US$ 1.5 million) to one of its subsidiaries, PT Anugerah Krida Retailindo (Akrida), to increase its authorization capital.
New gas reserve of 15.02 million cubic feet discovered in Maluku
The Upstream Oil and Gas Regulatory Task Force (SKKMigas) and Cooperation Contract Contractor (KKKS) Citic Seram Energy Ltd. has claimed the discovery of a fresh reserve of 15.02 million cubic feet of gas on Seram Island in Maluku province, Antara news agency reported.
Sumber Tani allocates IDR 335 billion for 2023 Capex
Oil palm plantation firm PT Sumber Tani Agung Resources Tbk (STAA) has allocated IDR 335 billion (US$ 22 million) Capital expenditure in 2023 to increase its plantation area to 60,000 hectares (ha) in 2025.
Total sets IDR 3 billion Capex for infrastructure development
Construction firm PT Total Bangun Persada Tbk (TOTL) has set a Capital expenditure (Capex) for 2023 worth IDR 3 billion (US$ 197,706) to develop infrastructure.
XL Axiata to expand 4G network across Indonesia with its IDR 8 trillion Capex
Telecommunication service operator PT XL Axiata Tbk (EXCL) has allocated IDR 8 trillion (US$ 527 million) for its 2023 Capital expenditure (Capex) for the company's business expansion and development of network infrastructure.
Astra Agro Lestari budgets IDR 1.7 trillion Capex in 2023
Palm oil company PT Astra Agro Lestari Tbk (AALI) has allocated between IDR 1.5-IDR 1.7 trillion (US$ 100-US$ 110 million) Capital expenditure (Capex) for replanting and treating immature plants. The budget - which will be for the maintenance of infrastructure, machinery and tools - will fully come from internal sources.
Danamon allocates US$ 115 million Capex to achieve net profit growth
Private lender PT Bank Danamon Indonesia Tbk (BDMN) has allocated between US$ 100 and US$ 115 million (IDR 1.5-2.3 trillion) Capital expenditure for 2023 to achieve its net profit growth.