#Corporate
Lippo commits to deliver Meikarta apartment units after DPR interferes
Property developer PT Lippo Cikarang Tbk and its subsidiary PT Mahkota Sentosa Utama (MSU) have committed to deliver the Meikarta apartment units to consumers, in the wake of the House of Representatives (DPR) members' interference that the company refund the buyers.
Global banks decline to finance Adaro's smelter project
DBS Bank of Singapore and UK-based bank Standard Chartered have withdrawn from financing PT Adaro Minerals Indonesia's US$ 2 billion aluminum smelter project due to the use of dirty energy.
Staycation trends to continue in 2023, help hospitality industry
Indonesia has seen a significant rise in the popularity of "staycation" in the past few years. The trend has gained immense popularity, especially among millennials who seek to take a break from their busy schedules without having to leave their city or their country.
Outlets shut down: Are retailers facing doomsday?
The closing down of Transmart’s 12 outlets has affirmed the tight competition among retailers and the shifting of consumers behavior. Transmart is not the first player in the retail industry that had to close down its outlets. Giant, a hypermarket chain originated from Malaysia, permanently closed down its business in 2021.
Energy ministry prepares exploitation of rare earth minerals
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.
Cigar industry in Indonesia - a potential rival to cigarettes?
The cigar business has the potential to bring great profits as they are seen as a potential replacement for cigarettes. People make cigars from rolled tobacco leaves, instead of chopped tobacco wrapped in papers like cigarettes. However, both cigars and cigarettes have similar health risks. According to online health consultation sehatq.com, smoking cigars can result in various forms of cancer, lung and heart diseases, addiction, dental and oral disorders and fertility problems.
Antam, LG Energy Solution cooperation remains unclear
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 Co.Ltd. of China.
Freeport to complete copper smelter by December 2023
Gold and mining giant PT Freeport Indonesia (PTFI) will be able to complete its Manyar copper smelter construction in Gresik regency, East Java, by December 2023, according to Coordinating Minister for Economic Affairs Airlangga Hartarto. He said the smelter construction progress has reached 51.7%.
Freeport unable to complete smelter construction by December 2023
Gold and copper giant PT Freeport Indonesia cannot complete its smelter construction in Gresik, East Java, by December 2023 even though the government may impose sanction if the company failed to do so.
Government can sanction Freeport, Amman Mineral if they miss smelter construction deadline
Instead of terminating the copper concentrate exports of PT Freeport Indonesia (PTFI) and PT Amman Mineral Nusa Tenggara (AMNT), the government can impose sanction on the two giant gold and copper producers.
Meikarta mega project offers a rosy picture but consumers get a bleak future
Lippo Group mega project Meikarta in Cikarang, Bekasi regency, has been involved in legal battle with consumers due to the company's failure in delivering the property on time and the latter's alleged defamation.
Government's plan to ban copper exports may cause 40,000 jobless
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.