#General Corporate
European energy giants shift focus back to oil and gas, slow down energy transition
Large European energy companies are doubling their investments on gas and oil focusing on short term benefits throughout 2024, consequently slowing down and sometimes reversing their own climate commitment that may continue to 2025.
TBS Energi acquires SembEnviro, expands regional waste management platform
PT TBS Energi Utama (TOBA), an energy company owned by businessman Pandu Sjahrir, has announced plans to acquire 100 percent of the shares of Sembcorp Environment Pte. Ltd. (SembEnviro), a leading waste management company in Singapore.
IDX targets 66 IPOs in 2025 for boosting investor growth, market activity
Indonesia Stock Exchange (IDX) is targeting about 66 new companies which will conduct an initial public offering (IPO) in 2025, an increased of 6.45 percent from 62 companies in 2024.
PT Supreme Energy Muara Laboh - PLN to develop Muara Laboh geothermal units
PT Supreme Energy Muara Laboh (SEML), a joint company between PT Supreme Energy Sumatera, Sumitomo Corporation and Inpex Geothermal Ltd, signed an amandement of power purchase agreement (PPA) with State power utility PT PLN on December 23, 2024 to develop units 2 and 3 (140 MW) of Muara Laboh geothermal located in South Solok regency, West Sumatra province.
Union protests dismissal of a worker in Morowali over minor negligence
The Morowali Industrial Workers Union (SPIM) is protesting the decision of the management of PT Indonesia Tsingshan Stainless Steel (ITSS), a metal mineral processing and stainless steel production company located within the Morowali Industrial Park in Morowali, Southeast Sulawesi, to dismiss its worker for minor negligence while on duty.
Ministry of State Secretariat issues new rules for officials’ overseas travel
The Ministry of State Secretariat has issued a new policy to improve the efficiency of overseas travel for government officials, which is formalized in a letter signed by Minister of State Secretary Prasetyo Hadi.
BI purchases SBN of up to Rp150 trillion to stabilize rupiah
The Indonesian Central Bank (BI) announces a strategic step to stabilize the rupiah exchange rate next year, primarily by purchasing Government Bonds (SBN) from the secondary market.
Walhi : PLTU owners fail to show up on 1st hearing of environmental case
The opening hearing session at the Unaaha District Court in Konawe regency, Southeast Sulawesi province on Monday, December 23, 2024, which is trying co-owners of coal-fired plants PT OSS and PT VDNI over human rights violation and environmental damage allegations, was adjourned until January 6, 2025 after both owners failed to show up.
Study reveals negative impacts of tax incentives for plastic industry, need of transparency
A number of tax incentives enjoyed by the plastic industry are considered to have negative impacts on the environment and state revenues according to a recent study by The Prakarsa.
Telkomsel partners with Tencent Mcash to revolutionize B2B services
Telkomsel, Mcash, and Chinese technology giant Tencent are developing AI technology to support Telkomsel's B2B activities in Indonesia.
Sixty textile companies may go bankrupt amid import regulation controversy
The Ministry of Manpower noted that 60 textile companies may soon go bankrupt after being severely hit by financial problems since 2023 and due to the issuance of import regulations.
IMIP contributes US$14.45 B in export foreign exchange, US$1.16 B in taxes
PT Indonesia Morowali Industrial Park (IMIP), the management of the largest nickel industrial area in Indonesia, has recorded a significant contribution to export foreign exchange and state tax revenues.