Tag: Corporate

Despite its abundant mineral resource, Indonesia still lacks in term of technology and capital to develop its mineral downstream industry, a senior ministry official says. […]

The recent meetings of Minister of Investment and Downstreaming/Head of the Investment Coordinating Board (BKPM) Rosan P. Roeslani with eight Chinese giants in the electric car ecosystem in China on December 18-20, 2024 had resulted in a total new investment commitment of US$7.46 billion (Rp120 trillion). […]

Cement producer PT Semen Baturaja (SMBR), a subsidiary of PT Semen Indonesia Group (SIG), is determined to focus on strategic measures to keep up its competitiveness and operational sustainability as well as manage excess production capacity, tight competition and the need for efficiency. […]

PT Hero Global Investment (HGII), a holding company focused on the renewable energy industry in Indonesia, is set to form a strategic partnership with Shikoku Electric Power Company, Inc. (Yonden), a Tokyo Stock Exchange-listed company. […]

PT PGN LNG Indonesia, as part of Pertamina’s Gas Subholding, has joined the development of a gasification project in North Papua, intended to strengthen the gas supply chain through the development of LNG infrastructure for power plants in the region. […]

Minister of Investment and Downstreaming/Head of the Investment Coordinating Board (BKPM) Rosan Perkasa Roeslani met with a number of giant Chinese companies within the electric vehicle (EV) ecosystem production chain during his visit to China on December 16-17, 2024. […]

PT Agung Sedayu Retail Indonesia (ASRI), a subsidiary of Agung Sedayu Group, has partnered with Xanh SM, a leading electric taxi service provider from Vietnam, to promote eco-friendly mobility solutions in Indonesia. […]

Thai conglomerate Siam Cement Group (SCG) has unveiled strategic collaborative projects aimed at fostering an inclusive and sustainable green economy in Indonesia. […]

PT Sri Rejeki Isman Tbk (SRIL), commonly known as Sritex, has officially been declared bankrupt after the Supreme Court rejected its appeal on Wednesday, December 18, 2024, marking a critical turning point for the textile giant. […]

The Indonesian Defense University, in collaboration with German pumps and pump systems manufacturer Wilo, held a guest lecture themed “Pump Systems Working Principles and Practical Applications” on Wednesday, December 18, 2024. […]

Schroders, a British global fund manager, is planning to close its business in Indonesia after operating for over 30 years, a move associated with the management overhaul led by new CEO Richard Oldfield, who is focused on streamlining underperforming business units. […]

PT Bank Rakyat Indonesia (BRI) has addressed claims of a ransomware attack, assuring customers that their data and funds remain secure. […]

PT Bank Central Asia (BCA) is reportedly planning to reorganize its board of directors by the end of 2024, with Gregory Hendra Lembong being anticipated as a strong candidate for the position of BCA’s President Director, succeeding Jahja Setiaatmadja, who is speculated to assume the role of BCA’s President Commissioner. […]

Renewable energy company PT Hero Global Investment (HGII) will hold an initial public offering (IPO), with 1.3 billion shares on offer targeting fresh funds of Rp299 billion (US$18.5 million). […]

A researcher has suggested the imposition of a transition period for the implementation of government-planned major reforms in the subsidized fertilizer distribution system. […]

Eight residents of Rempang Island in Riau Islands Province were injured and dozens of motorized vehicles were damaged after dozens of people attacked local residents early Wednesday morning, December 18, 2024 over a land dispute in an investment project. […]

The Indonesian Steel industry needs to shift to low carbon technology in order to compete in global market, considering the iron and steel export value is higher than import and the European Union is determined to impose Carbon Border Adjustment Mechanism (CBAM), a research institution has suggested. […]

State-owned coal mining company PT Bukit Asam (PTBA) is collaborating with the Gadjah Mada University (UGM) for research and development of low-calorie coal into humic acid. The development of innovations related to coal downstreaming is needed to face future challenges. […]

The Business Competition Supervisory Commission (KPPU) has detected alleged collusion in the Jakarta-Bandung (Whoosh) high-speed train procurement project involving PT CRRC Sifang Indonesia, a China PR company; and PT Anugerah Logistik Prestasindo. […]

The Institute for Energy Economics and Financial Analysis (IEEFA) has found that most renewable energy projects have not yet reached the power purchase agreement (PPPA) stage, despite being auctioned two years ago. […]

eFishery, an Aqua-Tech startup, is appointing Adhy Wibisono as interim CEO to replace Gibran Huzaifah, who is currently under investigation for alleged misappropriation of company funds. Adhy, who previously served as eFishery’s CFO, is replaced by Albertus Sasmitra. […]

PT PLN on Tuesday, December 10, 2024 opened a Media Roundtable with four leading startups to accelerate the development of the green energy ecosystem. The four startups, namely Maka Motors, Dayagreen, Gree, and 360E, which are members of the Connext Powered by PLN program. […]

Mining giant Vale is conducting job cuts across its global operations in response to the ongoing decline in nickel prices. While the company has not disclosed the number of employees affected in Sudbury, Ontario, it confirmed the layoffs will primarily target “non-operating roles.” […]

PT Bangun Kosambi Sukses, a subsidiary of PT Pantai Indah Kapuk Dua (PANI), is set to go public with its initial public offering (IPO) on the Indonesia Stock Exchange (IDX). The property and real estate company plans to offer 566.89 million shares, equivalent to 10 percent of its paid-up and issued capital post-IPO, under the company code CBDK. […]

A recent study by the Foundation for International Human Rights Reporting Standards (FIHRRST), supported by Moores Rowland Indonesia (MRI) and the Belgian Embassy, highlights a decline in foreign investor interest in Indonesian companies, which is attributed to negative perceptions of ethical standards in local businesses. […]

The Financial Services Authority (OJK) has revealed that a cryptocurrency company is preparing to launch its initial public offering (IPO) on the Indonesia Stock Exchange (IDX). However, still currently under review and OJK refrained from disclosing specific details about the company. […]

AirAsia has added more than 180 extra flights for the 2024 Christmas and 2025 New Year holiday period from December 15, 2024 to January 7, 2025. […]

SUN Energy, a renewable energy developer in Indonesia, says it is optimistic with renewable energy development in Indonesia, with great potential to expand the domestic market although the country is lagging behind Vietnam and Thailand in initiatives. […]

PT Bank Maspion Indonesia (BMAS) is on track for significant growth following its acquisition of a controlling stake by Thailand’s second-largest bank, KBank. The move opens up possibilities for corporate actions such as mergers and acquisitions (M&A) within Indonesia’s banking sector. […]

Three leading Indonesian telecommunications companies − PT XL Axiata (EXCL), PT Smartfren Telecom (FREN), and PT Smart Telcom − have merged to create a new entity called XLSmart, valued at over Rp104 trillion (US$6.5 billion), with XL Axiata to serve as the surviving entity in this significant consolidation. […]