#Corporate
Chandra Asri–Glencore JV acquires S’pore polyethylene plant to boost regional growth
Aster Chemicals and Energy (Aster), the joint venture between PT Chandra Asri Pacific (TPIA) and global commodity giant Glencore, is set to acquire Chevron Phillips Singapore Chemicals Pte Ltd (CPSC) through its affiliate, Chandra Asri Capital Pte Ltd.
Rekosistem secures US$7 M to scale circular waste management across Indonesia
Rekosistem, a climate-tech company focused on waste supply chain management and circular economy solutions, has raised US$7 million (Rp115 billion) in Series A funding.
Chandra Asri invests Rp15 T in world-class chemical plant to strengthen nat’l industry
PT Chandra Asri Pacific (TPIA), a company owned by tycoon Prajogo Pangestu, is investing Rp15 trillion (US$908 million) to build a world-scale chemical manufacturing facility, which is scheduled for completion by 2027.
MAB expands EV production with new truck factory, strategic partnerships
Domestic car producer, Mobil Anak Bangsa (MAB) is accelerating its role in Indonesia's electric vehicle (EV) industry with plans to open a new factory dedicated to producing electric trucks.
Worldcoin halts ID verification amid regulatory concerns, pledges cooperation
Tools for Humanity (TFH), the developer behind Worldcoin, has voluntarily paused its identity verification services in Indonesia following a regulatory freeze by the Ministry of Communication and Digital Application, which has affected both Worldcoin and its World ID product.
Xinfung Industry breaks ground on US$30 M textile plant in Subang smartpolitan
PT Xinfung Industry Indonesia, a subsidiary of China’s Jiangsu Xinfang Technology Group, has begun construction of its new manufacturing facility in the Subang Smartpolitan industrial area.
South Korean Dongsung Chemical commences operations in Indonesia
South Korean investors’ interest in Indonesia has apparently remained strong, marked by the official opening of Dongsung Chemical’s new polyurethane (PU) production facility in Karawang, West Java, on Wednesday, April 30, 2025.
PT PP to divest infrastructure subsidiaries in US$182 million deal to cut debt
State construction firm PT PP (PTPP) has announced plans to divest two of its infrastructure subsidiaries worth Rp3 trillion (US$182 million), aiming to streamline its business and reduce corporate debt.
PGE bosts revenue of US$101.51 million in Q1 2025
State-owned geothermal company PT Pertamina Geothermal Energy (PGE) booked strong performance in the first quarter of 2025, posting revenues of US$101.51 million as of March 31, 2025.
LG maintains commitment to Indonesian battery investment
Despite initial setbacks, LG remains strongly committed to its investment in Indonesia’s electric vehicle (EV) battery ecosystem, said Investment and Downstreaming Minister Rosan P. Roeslani on Tuesday, April 29, 2025.
President Prabowo projects Danantara’s wealth could reach US$1 trillion
President Prabowo Subianto has expressed optimism about the potential of the Daya Anagata Nusantara Investment Management Agency (BPI Danantara), stating that its total wealth could reach US$1 trillion (Rp16,837 trillion) if managed effectively.
Danantara finalizes SOEs consolidation to strengthen RI’s economic sovereignty
The Daya Anagata Nusantara Investment Management Agency (BPI Danantara) has completed the consolidation of state-owned enterprises (SOEs) under its new holding entity, Danantara Indonesia.