Tag: Finance

A senior officer with PT Bank Danamon Indonesia (BDMN) reveals that the bank aims for double-digit loan growth in 2024 upon monitoring positive trend of the bank’s lending so far. […]

PT Kaltim Prima Coal (KPC) is a coal mining company that is based in Sangatta, East Kalimantan, Indonesia. KPC one of the largest operators of open-pit mining in the world with a total coal mining concession mining concessions reaching to 61,543 Ha and supporting areas for mining business activities of 8,371 Ha. […]

PT Bank Negara Indonesia Tbk (BNI) has allocated a capital expenditure (capex) of Rp 1.9 trillion (US$117 million) for information technology (IT) enhancement this year aimed at bolstering digital security, particularly for customer data. […]

The Indonesian Central Bank (BI), along with the central banks of four other ASEAN countries, has completed the Phase 3 blueprint of Project Nexus, aimed at enabling participating countries to achieve faster and smoother domestic instant payment interconnections. […]

State electricity company PT PLN has secured a lending facility from a consortium of the World Bank, Canada Clean Energy & Forest Climate Facility and Clean Technology Fund amounting to US$581.5 million for increased access to electrification in the country, energy transition programs and the company’s digitization. […]

State energy company PT Pertamina recorded positive performance in 2023, booking a total profit of US$ 4.77 billion (Rp 72.7 trillion), an increase by 17 percent from 2022, and its earnings before interest, tax, depreciation and amortization (EBITDA) at US$14.36 billion, a six-percent increase from the 2022 figure. […]

Minister of Investment/Head of Investment Coordinating Board Bahlil Lahadalia has maintained that the Indonesian government does not seek control of PT Freeport Indonesia operation during the negotiation for extension of the company’s special mining business permit after 2041. […]

Jakarta − PT Delta Dunia Makmur, through American Anthracite SPV I, LLC, a subsidiary of BUMA International, has signed a Stock Purchase Agreement (SPA) for acquisition of Atlantic Carbon Group, Inc (ACG), the second largest Ultra High Grade (UHG) anthracite producer in the United States. […]

JAKARTA, May 27, 2024 − Fossil fuels continue to dominate Southeast Asia’s energy sector, controlling around 83 percent of the region’s energy mix and largely overshadowing the 14.2 percent contribution from renewables. Among these, solar energy remains underutilized. While Vietnam has made significant strides, achieving an impressive 20.5 percent share of its power from solar, Indonesia still lags substantially, with less than 1 percent. […]

DBS Indonesia has set an ambitious target for Indonesia’s economic growth, projecting it to reach 8 percent by 2045 over Indonesia’s status as a major economy with a Gross Domestic Product (GDP) exceeding one trillion dollars. […]

State-owned bank PT Bank Rakyat Indonesia, commonly referred to as BRI, has earned a place in Bloomberg Technoz’s “Top 20 Companies to Watch in 2024” list due to its strong performance fundamentals. […]

The Indonesian Central Bank (BI) has signed a cooperation agreement with the Central Bank of the United Arab Emirates (UAE) to encourage the use of local currencies for bilateral transactions. […]

In an effort to support global economic recovery, the Indonesian Central Bank (BI) will maximize the use of sustainable market instruments in the form of green sukuk in the short-term sharia financial market. […]

PT Ayo Kasbon Indonesia, a financial technology startup, launched the innovative Ayo Kasbon financial services application in conjunction with Labour Day in Jakarta on Wedesday, May 1, 2024. The Ayo Kasbon application aims to facilitate employees or labourers to collect their salary earlier before the payday. […]

PT Federal International Finance (FIF), in collaboration with Mizuho Bank Ltd, MUFG Bank Ltd and Sumitomo Mitsui Banking Corporation Singapore Branch, has succeeded in obtaining a loan worth US$ 60 million aimed at integrating sustainable financing. […]

PT Asuransi Allianz Life Indonesia (Allianz Life) and PT Bank HSBC Indonesia (Bank HSBC) on Thursday, April 18, 2024, launched a financial protection product − the Premier Legacy Assurance − in the form of inheritance to support customers’ prosperous family life in the future. […]

President Joko “Jokowi” Widodo has approved the additional state capital injection (PMN) to PT Wijaya Karya (WIKA) amounting to Rp6 trillion (US$419 million). […]

PT Freeport Indonesia (PTFI) has deposited around Rp3.35 trillion (about US$207 million), or about sevent percent out of its 2023 profit of Rp48.79 trillion, to the regional administrations in Papua. […]

Abu Dhabi Islamic Bank (ADIB) is reportedly in talks to acquire a stake in PT Bank Syariah Indonesia (BRIS) worth approximately US$1.1 billion (IDR 17.98 trillion). […]

The escalating geopolitical crisis in the Middle East, coupled with Iran’s attack on Israel, poses a threat to the global economic recovery, including Indonesia. […]

State-owned infrastructure financing company PT Sarana Multi Infrastruktur (SMI) recorded a net profit of Rp2.07 trillion or equivalent to US$144.5 million throughout 2023, partly supported by growth in operating income. […]

The government’s debt has reached Rp8,319.2 trillion (US$522.3 billion) by February 29, 2024, an increase from the end of January, which amounted to Rp8,253.09 trillion. This government debt is equivalent to approximately 39.06 percent of the gross domestic product (GDP), continuing the all-time high trend. […]

HSBC has announced the ASEAN Growth Fund, amounting to US$1 billion (IDR 16 trillion), aimed at accelerating the expansion of startups in ASEAN.  […]

The Indonesia Stock Exchange (IDX) has issued an unusual market activity (UMA) announcement regarding PT Adhi Kartiko Pratama (NICE) shares due to an unusual increase in prices. […]

PT Indonesia Asahan Aluminium (Inalum) continues to prepare for its pre-initial public offering (IPO) this year. […]

State-owned fertilizing holding company PT Pupuk Indonesia recorded the government’s debt to settle fertilizer subsidies almost complete, with a remaining balance of nearly Rp1 trillion (US$ 63.5 million) for the period of 2020-2021. […]

The China International Capital Corporation (CICC), a massive investment bank, has announced plans to expand its presence in Southeast Asia, targeting Indonesia, Vietnam, Malaysia, and Thailand in its third phase of international expansion. […]

The Capital City of Nusantara Authority (OIKN) recorded a budget absorption throughout 2023 to support IKN development reaching Rp271.71 billion (US$17.3 million) […]

Head of the Nusantara Capital City Authority (OIKN), Bambang Susantono, reported that the total investment inflow into IKN has reached nearly IDR 50 trillion. […]

State electricity company PT PLN is exploring opportunities for a new financing scheme, coined the term transition financing, to accelerate investments in gas power plants and fossil fuel efficiency. […]