#Finance
Chinese investment giant CICC targets Southeast Asian countries
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.
IKN authority absorbs budget of Rp271 billion in 2023
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)
PLN explores transition financing scheme in collaboration with Asian banks
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.
Grant Thornton releases report on Indonesia's economic prospects in 2024
Grant Thornton Indonesia has published a report titled "Unraveling Indonesia’s Prospects in 2024", a move aimed at assisting foreign investors in better understanding Indonesia's investment climate in 2024.
BI provides IDR 268 trillion liquidity incentive to boost banking sector
The Indonesian Central Bank (BI) is offering a liquidity incentive of IDR 268 trillion (US$17.2 billion) to the banking sector aimed at expanding loan disbursement and promoting BI's macroprudential liquidity incentive policy.
Authority forecasts independent financing for IKN development over the next decade
The Nusantara Capital Authority has predicted that the development of the Nusantara ndonesia Capital City (IKN) over the next 10 years will not require financing from the State Budget (APBN).
Indonesian PMI for February 2024 down from previous month
The Purchasing Managers' Index (PMI) for Indonesian manufacturing in February still reflects an expansive manufacturing sector although the country booked a score of 52.7, a slight decrease from January's 52.9. According to the S&P Global index, manufacturing production showed an upward trend in February, with growth rates remaining solid despite a decline compared to January.
PLN-Mitsui conflict on Paiton 3 divestment disrupts investment
A new chapter in the dispute between Mitsui & Co Ltd and State electricity company PT PLN regarding the certainty of the Paiton 3 divestment could set a precedent reflecting the high investment uncertainty in Indonesia.
MIND ID, VCL & SMM signed share sale and purchase agreement
PT Mineral Industri Indonesia (MIND ID), together with Vale Canada Limited (VCL) and Sumitomo Metal Mining Co., Ltd. (SMM) signed a share sale and purchase agreement for the divestment of PT Vale Indonesia (INCO) in Jakarta on Monday, February 26, 2024.
PLN secures global funding forelectrification, renewable energy development
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$581.5 million for increased access to electrification in the country, energy transition programs and the company's digitization.
Pertamina books US$ 4.77 billion profit in 2023
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.
RI ‘does not seek operational control’ in permit extension talks with Freeport
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.