#Corporate
A fire broke out at Pertamina’s Dumai refinery raising questions on safety procedures
Nine people were injured, and several houses and houses of worship sustained damage after a fire broke out at the state-owned oil and gas company Pertamina refinery in Dumai, Riau province, on April 1, 2023. Recurring fire incidents at Pertamina fuel processing and storage has raised questions about the management‘s monitoring of safety procedure.
Indonesia-China strengthen ties through trade, investment, and cooperation
From March 22nd to March 28th 2023, the "Indonesia-China (Shandong) Exchange Week" was conducted by the Indonesian Embassy and Bank Indonesia Representative Office in Beijing in collaboration with the Dezhou City Government and the Shandong Provincial Government.
Eight Electric Motorcycle Companies to Benefit from Government Subsidy Program
Eight electric motorcycle companies had successfully qualified to receive the electric vehicle subsidy from the government. Through the subsidy, the motorcycle companies will receive a subsidy of Rp 7 million for one electric motorcycle unit. The Industry Ministry's director general of metals, machinery, transportation equipment, and electronics industry (ILMATE) Taufiek Bawazier, said that the eight companies had fulfilled the government's condition that requires companies to produce the motorcycle with 40% of local components ratio.
WSBP invest IDR 80 billion to build Nusantara's Presidential Palace and working roads
PT Waskita Beton Precast (WSBP) is a publicly traded Indonesian state-owned enterprise (SOE) founded in 2014 and a subsidiary of PT Waskita Karya (Persero). It is the country's largest producer of precast and mixed concrete. The company intends to invest IDR 80 billion (US$ 5.2 million) in capital expenditure (Capex) to develop Indonesia's New Capital, Nusantara, in East Kalimantan.
Government plan to grant early extension of Freeport permit will violate mineral and coal law
The Indonesian government is awaiting the submission of PT Freeport Indonesia's request for an early extension of its special mining business permit. The current permit will expire in 2041. "We are currently waiting for Freeport to request an extension," Minister of Energy and Mineral Resources Arifin Tasrif stated on March 17, 2023.
PepsiCo, FrieslandCampina suspend palm oil sourcing from Astra Agro Lestari
PepsiCo and FrieslandCampina have suspended imports from Astra Agro Lestari (AAL), Indonesia's second-largest palm oil company, following an investigation into environmental and human rights violations committed in Central and West Sulawesi, Indonesia. The US and Dutch multinationals are the latest in a long line of consumer brands to cut ties with the company.
Sinar Mas Land, KUMPUL.ID support startups in finding investors through DNA Demoweek
Real estate development company Sinar Mas Land (SML) and entrepreneur ecosystem builder KUMPUL.ID held the Digital Hub Next Action (DNA) Demoweek to support startups in finding angel investors, venture capitalists, and investors.
Green groups concern about Hyundai's purchase of dirty aluminum from Adaro
Hyundai Motor Company and PT Adaro Minerals Indonesia Tbk's memorandum of understanding received a backlash from environmental organizations from both countries over the South Korean carmaker's planned annual purchase of 100,000 tons of aluminum from Indonesia's second-biggest coal firm.
Luhut's affiliation with EV company might spur controversy over conflict of interest
The policy to provide government assistance for the purchase of electric vehicles carry out a moral hazard for Coordinating Minister For Maritime Affairs and Investment Luhut Binsar Pandjaitan, according to an expert.
Government to subsidize electric motorcycles to boost conversion of new energy
Starting on March 20, 2023, the government will provide subsidies for battery electric vehicles (BEVs), particularly electric motorcycles, to help spur the new energy automotive industry development. The subsidy is the government's first step to allowing price affordability and people's purchasing power to buy BEVs.
JBIC funds Indonesia's proving ground for IDR 889 billion
The Japan Bank for International Cooperation (JBIC) and the Indonesia International Automotive Proving Ground (IIAPG) Consortium approved a IDR 889 billion (US$ 57.87 million) loan agreement in Tokyo on March 1, 2023.
Indonesia, Western Australia join forces to boost EV industry
The Western Australian Government Deputy Premier Roger Cook and the Indonesian Chamber of Commerce and Industry (Kadin) Chairman Arsjad Rasjid signed a Memorandum of Understanding (MoU) in Perth, Australia, on February 21, 2023.