Tag: BUMN

Darmawan Prasodjo, President Director of State power utility PT PLN, has been named CEO of the Year for the third consecutive time at the CNBC Indonesia Awards 2024 presentation ceremony held on Wednesday, December 11, 2024. […]

State-owned construction company PT Wijaya Karya (WIKA) has confirmed discussions regarding a potential merger with fellow state-owned company PT PP (PTPP). If the merger proceeds, the combined entity is expected to focus on large-scale infrastructure projects such as ports, airports, factories, and residential developments. […]

State-owned gas distribution company PT PGN has partnered with the National Nutrition Agency (BGN) to supply natural gas for the government’s “Makan Bergizi Gratis” (MBG) or “Free Nutritious Meal” program. […]

Trade and State-owned Enterprises (SOEs) Commission VI of the House of Representatives (DPR) highlighted the worrying performance of building material solutions provider PT Semen Indonesia Group (SIG), particularly its impact on subsidiaries − PT Semen Padang, PT Semen Tonasa, and PT Semen Baturaja. […]

Indonesia’s state-owned mining holding company, MIND ID, has announced that it will focus on five strategic downstream projects in 2025, with an allocated investment of Rp20.6 trillion (US$1.3 billion). […]

The 8-percent economic growth target set by the Prabowo Subianto government in 2026 must be supported by strong energy security, with sea transportation playing a key role, an observer says. […]

PT Semen Baturaja (SMBR), a subsidiary of State-owned cement producer PT Semen Indonesia (SIG), remains optimistic about closing 2024 with positive performance even though the national cement industry is experiencing market oversupply, with the South Sumatra-based company recording a 1-percent increase in sales volume as of third quarter of 2024 compared to the same period in the previous year. […]

State-owned fertilizer holding company PT Pupuk Indonesia has booked 6.7 million tons of subsidized fertilizers distribution in Indonesia as of November 30, 2024, the distribution realization has reached 6.7 million tons, or around 88.9 percent of the total government contract of 7.54 million tons for 2024. […]

State-owned mining holding company, MIND ID, seeks support from the Energy Commission XII of the House of Representatives (DPR) to limit the construction of new smelters in Indonesia over concerns of oversupply of mining products in the global market. […]

Trade and Sate-owned Enterprises (SOEs) Commission VI of the House of Representatives (DPR) has called for the acceleration of the ratification of the Presidential Regulation (Perpres) to simplify the distribution chain of subsidized fertilizers in the country. […]

An economist with the Institute for Development of Economics and Finance (INDEF) says energy resilience is one of the main priorities of the new Indonesian government in anticipation of global geopolitical dynamics and domestic challenges. […]

President Prabowo Subianto has ordered for a 10-percent decrease in domestic airfares during the 2024 Christmas and 2025 New Year holidays as part of the efforts to ease the burden on local travelers. […]

The establishment of the Daya Anagata Nusantara Investment Management Agency (BPI Danantara) has entered the final stage with the draft Government Regulations (PP) and Presidential Regulations (Perpres) of the State-owned Enterprise (SOE) Superholding was submitted by Head of BPI Danantara Muliaman Hadad and Deputy Head Kaharuddin Djenod to Minister of State Secretary Prasetyo Hadi on Friday, November 29, 2024. […]

Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadialia said the government is opening the opportunity for new foreign investors to invest in the Tuban Grass Root Refinery (GRR) project if Russia’s Rosneft Oil Co PJSC fails to provide clarity on its commitment to the venture. […]

State energy company PT Pertamina is making strategic efforts to reduce emissions by reducing methane exhaust gas from all lines of the company’s operations. The company is committed to achieving Zero Routine Flaring Initiative (ZRF) by 2030, with a target of reducing methane emissions by 40 percent. […]

Pertamina NRE, a subsidiary of State energy company PT Pertamina, seeks regulations that will strengthen and encourage the oil and gas industry by accelerating the implementation of carbon capture and storage/carbon capture,utilization and storage (CCS/CCUS) technology in Indonesia. […]

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. […]

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. […]

President Prabowo Subianto’s vision of achieving the net zero emission target by 2050 should be accompanied with more ambitious plan of actions than mere building 75 gigawatts (GW) of renewable energy-driven power plants, an energy analyst says. […]

PT PLN (Persero) has solidified five strategic partnerships to advance Indonesia’s energy transition during the 29th Conference of the Parties (COP29) held in Baku, Azerbaijan. These collaborations focus on funding, technology, and human resource development to accelerate the development of clean energy infrastructure in Indonesia, paving the way for sustainable energy self-sufficiency. […]

PT Pertamina Hulu Energi Offshore North West Java (PHE ONWJ), an upstream subholding of State energy company PT Pertamina, has begun the construction of the OOA Platform, part of the OO-OX Field development project off the Java Sea, marked by the cutting of the offshore platform plate in Bintan, Riau Islands, on Wednesday, November 6, 2024. […]

Indonesia’s power utility PT PLN is seeking global support and funding to achieve the government’s additional target of renewable energy installed capacity of 75 Gigawatt (GW) in the next 15 years. […]

The indigenous communities of Poco Leok in Manggarai Regency, East Nusa Tenggara, which include Gendang Mucu, Mocok, Mori, Nderu, Cako, Ncamar, Rebak, Jong, Tere, and Lungar, continue to resist the geothermal mining project led by PT PLN. This project, aimed at expanding the Ulumbu Geothermal Power Plant (PLTP) to Units 5 and 6, threatens to disrupt their ancestral lands and […]

The Ministry of Investment and Downstreaming/Investment Coordinating Board (BKPM) and the Indonesian Central Bank (BI) signed a Cooperation Agreement (PKS) on financial sector licensing in Jakarta on Wednesday, November 13,2024. […]

The shareholders’ meeting of State power utility PT PLN on Thursday, November 14, 2024, appointed four new Commissioners and extended the terms of two Directors − Darmawan Prasodjo as President Director and Sinthya Roesly as Finance Director. […]

President Director of PT Bank Negara Indonesia (BBNI), Royke Tumilaar, has revealed that tight liquidity in the Indonesian banking sector is influenced by various external factors, the prime one is the prospect of US interest rate policy under the Donald Trump administration, which is expected to make it difficult for The Fed to lower interest rates. […]

State-owned construction company PT PP (PTPP) has secured Rp24.4 trillion (US$1.5 billion) in new contracts. A large portion of these contracts, 41.24%, comes from government-funded projects, followed by state-owned enterprises (SOEs) projects at 30.76%, and private sector projects at 28%. […]

The Supreme Audit Agency (BPK) has identified discrepancies in subsidy distribution by state-owned enterprises (SOEs) following an audit conducted in the first half of 2024. The audit, assessed 15 state-owned companies, revealing a financial correction value of Rp1.8 trillion (US$114 million). […]

A businessman and angel investor Pandu Patria Sjahrir is widely tipped to be appointed as Chief Operating Officer of the Daya Anagata Nusantara Investment Management Agency (BPI Danantara), a sovereign wealth fund mechanism to support Indonesia development financing. […]

An economic observer has lent his support behind the establishment of Daya Anagata Nusantara Investment Management Agency or BPI Danantara, which is projected to become the new State-Owned Enterprises (SOEs) Superholding, a mechanism to support development financing on Indonesia. […]