Tag: BUMN

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. […]

Minister of State-Owned Enterprises (SOEs) Erick Thohir has expressed his support for the establishment of the Daya Anagata Nusantara Investment Management Agency or BPI Danantara, a sovereign wealth fund which is projected to become the new SOEs Superholding. […]

Legal and business experts have suggested the establishment of legal umbrella for policy executors within the country’s State-owned Enterprises (SOEs) − a paramount backbone behind the government’s ambitious 8-percent economic growth target − in order to help them avoid legal sanctions for taking a wrong direction against or misinterpretating government policies. […]

The Ministry of State-Owned Enterprises is intensifying efforts to transform state-owned enterprises (SOEs) by consolidating companies with similar businesses. The vision of SOEs Minister Erick Thohir’s vision, includes streamlining the number of SOEs from 47 to 30, organized them into 11 clusters, as a continuation of his earlier work in which he reduced the number of SOEs from 114 to 47. […]

State-owned publicly listed Bank Mandiri has affirmed that the government’s policy to forgive non-performing loans (NPL) for a million Micro, Small, and Medium Enterprises (MSMEs), including farmers and fishers, will not impact its financial performance. […]

Experts have questioned the government’s “wavering” stance on the benefits of early retirement of coal-fired power plants (PLTU), expressing hope that it would remain consistent with its energy transition commitment for the sake of greener and healthier environment. […]

Minister of State-Owned Enterprises (SOEs), Erick Thohir, has again proposed the merger of several state-owned companies in the food, logistics, infrastructure and construction clusters. […]

The appointment of Simon Aloysius Mantiri and Mochamad Iriawan as Chief Executive Officer and President Commissioner of State energy company PT Pertamina has a potential to open an access for corruption and can create conflict of interest and malfunction, an economist has warned. […]

A senior government official has revealed that Ministry of Energy and Mineral Resources (ESDM) has a road map in energy sector to achieve net zero emission through energy efficiency, the development of renewable energy and the moratorium of coal-fired power plant (PLTU). […]

The General Meeting of Shareholders of State energy company PT Pertamina on Monday, November 4, 2024, named Simon Aloysius Mantiri and Mochamad Iriawan as the new CEO and President Commissioner, respectively. […]

The government is expected to launch the Daya Anagata Nusantara Investment Management Agency (BP Investasi Danantara), a new institution predicted to become a superholding of State-Owned Enterprises (SOEs) whose authority is to integrate separate government assets in ministries and SOEs. […]

Pertamina Hulu Rokan (PHR), a subsidiary of State energy company PT Pertamina, has shown significant progress in the development of Unconventional Oil and Gas (MNK) project in the Rokan Working Area (WK) is support the national energy production target achievement. […]

Minister of State-Owned Enterprises (SOE) Erick Thohir has expressed his full support for President Prabowo Subianto’s plan to use the Maung tactical car, produced by State-owned military vehicle manufacturer PT Pindad, as official vehicle for ministers, deputy ministers, and echelon I officials. […]

Minister of State Secretary Prasetyo Hadi has confirmed the plan by the government to use Maung cars produced by PT Pindad as official vehicles for ministers and state officials, apparently awaiting the readiness of the State-owned military vehicle manufacturer’s mass production capacity before making a final decision. […]

Sulzer Services (Indonesia), an independent service provider (ISP) and leader in flow control, has signed a five-year customer service agreement (CSA) with PT Pertamina Geothermal Energy (PGE), the Geothermal specialist sub-holding of State energy company PT Pertamina. […]

Coal mining company PT Bukit Asam (PTBA), State-owned railway company PT Kereta Api Indonesia (KAI) and cement producer PT Semen Baturaja (SMBR) have struck a deal to increase the coal and cement loading and unloading capacity of the Kertapati Area in Palembang, South Sumatra. […]

Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia has requested the parliament and the ministry to review the power wheeling scheme in the new and renewable energy (EBT) bill in regards with Law No. 30/2009 which stipulates that it is state owned power utility (PLN) that has authority to distribute electricity to the consumers in affordable price. […]

Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia has revealed that Indonesian state energy company PT Pertamina and Russian energy company Rosneft are expected to decide on their Final Investment Decision (FID) next month. […]

Digital transformation of PT Pertamina International Shipping (PIS), a subsidiary of state-owned energy company Pertamina, has gained appreciation and recognition from global shipping industry players upon its success in developing a claim module system in ship operations. […]

The Financial Services Authority (OJK) has addressed allegations of corruption involving the regionally owned enterprise (BUMD), PT Bank Pembangunan Daerah Jawa Barat (Bank BJB). The case centers around suspicions of inflated advertising fund placements between 2021 and 2023, involving a total of approximately Rp200 billion (US$13 million). […]