#Corporate
PT Master Print debuts on IDX, plans strategic expansion
PT Master Print (PTMR), a subsidiary of food packaging producer PT Mitra Pack (PTMP), officially went public on the Indonesia Stock Exchange (IDX) on Tuesday, October 8, 2024, becoming the 35th company listed this year.
Antam acquires 30 percent stake at JLMI, boosting nickel downstream projects
State-owned diversified miner PT Aneka Tambang (Antam), through its subsidiary PT Gag Nikel (PTGN), has finalized the acquisition of a 30 percent stake in PT Jiu Long Metal Industry (JLMI), a nickel smelting company focused on refining nickel.
United Tractors expands into renewable energy with solar, geothermal investments
PT United Tractors Tbk (UNTR) is ramping up its focus on renewable energy, branching out from its core heavy equipment business and exploring opportunities in solar energy development.
Inasca 2024 Forum seals US$8.3 billion deal on trade and investment
The Indonesia South and Central Asia (Inasca) 2024 Business Forum, held in Jakarta on Monday, October 7, 2024, produced a number of trade and investment deals worth US$ 8.3 billion.
Rusdi Kirana named Deputy MPR Speaker, steps back from Lion Air leadership
Rusdi Kirana, co-founder of Lion Air Group, has been appointed as Deputy Speaker of the People’s Consultative Assembly (MPR) representing the National Awakening Party (PKB).
OJK evaluates Adaro Energy's plan to divest its Adaro Andalan Indonesia shares
The Financial Services Authority (OJK) is currently reviewing the plan by PT Adaro Energy Indonesia (ADRO) to divest its entire stake in PT Adaro Andalan Indonesia (AAI).
Pertamina Group prepares bioethanol ecosystem, a drive for energy transition
The transportation sector is one of the largest contributors to greenhouse gas emissions in Indonesia that the use of environmentally friendly fuel oil, including those mixed with bioethanol, is one of the best solutions to reduce the emissions.
Airlines encouraged to partner with foreign firms to break market monopoly
Minister of Transportation Budi Karya Sumadi asks domestic airlines to collaborate with foreign investors to expand their fleets and reduce the current monopoly in Indonesia's aviation industry, particularly by the Lion Air Group.
US solar panel company invests in Batang Industrial Estate
Energy company SEG Solar Inc. becomes the first company from the United States investing in Batang Integrated Industrial Estate in downstream industry of silica sands.
Broom raises US$25 M in Series A+ to transform Indonesia's automotive sector
Broom, an automotive startup that provides services for buying and selling used cars in Indonesia, has secured Series A+ funding of US$25 million to expedite digitization of traditional automotive sector.
BUMA secures US$65.4 M in second Rupiah Bonds offering
PT Bukit Makmur Mandiri Utama (BUMA), the principal subsidiary of PT Delta Dunia Makmur, has secured the issuance of the BUMA II 2024 Rupiah Bonds (BUMA II 2024 Bonds) with a total value of Rp1 trillion (US$65.4 million).
ExxonMobil Cepu set to boost oil production to 150,000 BPD by 2026
Minister of Energy and Minieral Resources (ESDM), Bahlil Lahadalia has asked ExxonMobil Cepu Ltd to increase its production capacity to 150,000 barrels of oil per day (bpd) in 2026 in an attempt to maintain Indonesia's oil production which is currently experiencing a downward trend.