Tag: BUMN

According to cybersecurity agency Palo Alto Networks, Indonesia is the third country with the highest number of ransomware attacks in Southeast Asia. Check Point Software Technologies’ study found that cyberattacks on Indonesia’s finance and banking industry topped the list, with an average of 2,730 attacks per week since January 2022. […]

PT Timah will be working with a Canadian company to process rare-earth mineral. The plan came after previously, Timah had a failed partnership with a Chinese company. […]

Oil and gas businesses association explains reasons why foreign investors are leaving Indonesia. Some of the reasons was the delayed enactment of the Oil and Gas Draft Bill and natural resources nationalization issue. […]

PT Kereta Commuter Indonesia (KCI) will procure 16 new trains sets from PT Industri Kereta Api (Persero) valued at IDR 4 trillion. At the same time, KCI is still continuing its plan to import used trains from Japan. […]

Destiawan Soewardjono, President Director of PT Waskita Karya, named as a suspect in a corruption case involving fictitious project which resulted in state losses. The Financial and Development Supervisory Agency (BPKP) stated that the state suffered IDR 2.54 trillion losses. […]

Indonesian national logistics agency Bulog has signed an agreement to import rice from 4 countries. Ironically, the decision was made as the country still in its great harvest period. […]

Indonesian banks need to learn from the recent collapse of Silicon Valley Bank by managing their risks properly to avoid unnecessary risks. […]

State-owned banks have prepared strategies to mitigate possibilities of economic recession in relation to recent shut down of international banks […]

The majority of the company’s IDR 80 billion in Capex will be spent on projects in Nusantara. The remaining Capex will go toward building maintenance and the completion of the Waskita Beton project’s land acquisition. “In essence, we are picky about how we spend the Capex. It will only be used to help the company’s productivity” stated Asep Mudzakir, WSBP […]

The Western Australian Government Deputy Premier Roger Cook and the Indonesian Chamber of Commerce and Industry (Kadin) Chairman Arsjad Rasjid signed a Memorandum of Understanding (MoU) in Perth, Australia, on February 21, 2023. The MoU explored the potential collaborations in crucial minerals for the fast-expanding battery and electric vehicle (EV) sector. […]

To attract investors in the tin downstream industry, Indonesia must guarantee competitive investment costs, affordable gas prices, low logistic costs and infrastructure availability. President Director of state-owned tin mining company PT Timah Tbk., Achmad Ardianto, said investors in the tin downstream industry would seek a location with reasonable capital or minimal investment costs. […]

Indonesia’s plan to move its capital city from the densely metropolis Jakarta to underdeveloped Nusantara in East Kalimantan has attracted 90 investors. […]

The Ministry of Energy and Mineral Resources’ Geological Agency is exploring the potential of rare earth minerals in Indonesia. The exploration is carried out to identify rare earth minerals in the laterite potential areas outside the mining sites, so the government can prepare the mining operation permits. […]

A planned cooperation in developing electric vehicle battery between Indonesian state-owned mining company PT Aneka Tambang Tbk (Antam) and South Korean battery maker LG Energy Solution (LGES) is still unclear. State mining holding company MIND ID Chief Executive Officer Hendi Prio Santoso said that LG even left the negotiation of the project to a member of its Huayou Cobalt […]

The government’s plan to fully ban the exports of copper concentrates has worried the Indonesian Mining Association (IMA) over the fate of around 40,000 workers in the industry. The IMA raised concern over the government’s unlikeliness to complete the downstream industry before the planned deadline of June 2023. […]

The House of Representatives (DPR) received harsh criticism for its proposal to include power wheeling in the problem inventory list (DIM) during the deliberation of the renewable energy bill. Activists and experts have seen the power wheeling policy as a form of liberalization of Indonesia’s power sector that only benefit private sector. […]

The mining industry in Indonesia has been facing several challenges in recent years, including a fluctuating commodity market, environmental concerns and the uncertainty of regulations, which could be inconsistent. However, two mining commodities will still shine in 2023: Coal and gold. […]

In this digital era, the volume of financial management instruments is increasing in Indonesia. Banking and/or non-banking institutions have issued various innovations to help the public manage their finances more efficiently. The presence of an e-wallet is a proof of its implementation. […]

The insurance industry in Indonesia has been growing in recent years, due to the increasing awareness among the people on the importance of insurance. The government has also raised its efforts to increase insurance penetration in the country. This story reveals the top 10 insurance companies in Indonesia […]

Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan considered the Corruption Eradication Commission (KPK)’s caught red-handed operation (OTT) has given a negative perception to the state. He said state officials were exposed to the antigraft body’s caught red-handed operation because the state has not utilized the digital system to improve financial management at the regional and national levels. […]

President Joko “Jokowi” Widodo announced that Indonesia would start banning the export of bauxite ores starting June 2023 to encourage the development of bauxite processing and refining industry at home. His statement came days after Indonesia filed an expected appeal against a World Trade Organization (WTO) panel ruling that was in favor of the European Union (EU) in a dispute […]

The Ministry of State-Owned Enterprises has planned to launch an IPO for two state oil and gas giant PT Pertamina’s subsidiaries, namely PT Pertamina Hulu Energy (PHE) and PT Pertamina Geothermal Energy (PGE). “We will initiate the IPO process for four companies, including PGE and PHE,” SOE Deputy Minister Pahala Mansury told a hearing with the House of Representatives (DPR)’s […]

Gold and copper mining giant PT Freeport Indonesia (PTFI) has yet to receive export tax reduction for their copper concentrate export as Indonesian ministers have not agreed on the percentage of the company’s smelter progress in Gresik, East Java. […]

In accordance with the specific nature of the establishment of Perum LPPNPI, where income is only based on revenue from the cost of Aviation Navigation Services / PJNP (single revenue), the availability of periodic cash inflows is very important for investment financing (rejuvenation and modernization of flight navigation aids), the accuracy of equipment performance navigation (calibration) and reliability of human […]

Some of the benefits that can be achieved with the restructuring of Pertamina are simplification of the investment approval chain so that investment decisions can be accelerated while still paying attention to governance. Implementation of Restructuring simplifies investment decision-making from 9 to 2 steps where Holding, Sub Holding, and Subsidiaries are jointly involved from the beginning of the investment proposal. […]

The energy subsidy scheme, which is right on target for the community group, cannot be pushed through because the government’s subsidy burden will continue to grow and burden state finances. The magnitude of community-subsidized fuel consumption may be caused by the current subsidy mechanism being open and applied to energy products. “This means that anyone can access the subsidized fuel […]

Several Indonesian state-owned enterprises intend to go public within the next few years. These include Inalum, a subsidiary of Indonesia’s state-owned mining company MIND ID, PT Pertamina Bina Medika (Pertamedika IHC), Pertamina Geothermal Energy, and several subsidiaries of Indonesia’s state-run telecommunications company. Niko Chandra, Head of Institutional Relations for MIND ID, has announced that the mining holding company plans to […]

The recent establishment of a High-speed train in Indonesia hailing from Jakarta to Bandung have created a growing concern among Indonesians as the country could fall into Chinese debt trap due to cost overruns, and delay, and high operational cost. The Indonesian government could learn a from the experiences of other countries and should be careful with Chinese help in […]

In order progressively to replace its Iranian crude suppliers – permanently in conflict with the U.S. – the Indonesian oil company PERTAMINA decided to buy its crude from Nigerian National Petroleum Corporation (NNPC).

The key person behind this strategic collaboration is no other than the nephew of Aliko Dangote, the richest man in Africa. […]

Honorary titles become less and less popular. Being addressed with those titles is also seen as a snobbish act. The abolition of honorary titles has made interactions a lot simpler and avoiding embarrassment when the incorrect title was used. […]