#General Corporate
Vale insists on becoming controlling shareholder after divestment
Indonesian Minister of Energy and Mineral Resources Arifin Tasrif stated that Vale Canada Limited (VCL) insisted on being the controlling shareholder of PT Vale Indonesia Tbk. (INCO) after the planned divestment. As previously reported, the divestment is part of the requirement to convert Vale's work contract into a special mining business permit (IUPK).
Telkom's subsidiary and Germany 's venture capital collaborate, invests in deep tech start ups
MDI Ventures, a venture capital owned by PT Telkom Indonesia Tbk. has established a strategic partnership with Antler Germany, an early-stage venture capital and global startup generator on April 19, 2023.
IHRS 2023 highlights importance of sense of crisis and HR challenges
The ongoing war between Russia and Ukraine, in combination with the declining economy of the United States, have impacted the global economy.
Chandra Asri and INA develop chlor alkali plant for EVs industry
PT Chandra Asri Petrochemical Tbk (Chandra Asri), Indonesia's largest integrated petrochemical company, and the Indonesia Investment Authority (INA), have signed a Memorandum of Understanding (MoU) on collaboration to develop a world-scale chlor-alkali plant in Indonesia.
IBC has signed agreements with CBL and LG to develop EVs battery.
Chief Executive Officer of PT Industri Baterai Indonesia Toto Nugroho said that the company needs high cost to finance the development of electric vehicle battery .
Indonesia will loss IDR 57 trillion revenue if government bans export of copper, Freeport says
Vice President Corporate Communication of PT Freeport Indonesia Katri Krisnati, said that Indonesia will lose IDR 57 trillion in the form of tax, dividends and non tax revenue this year if the government suspend the operation of PT Freeport Indonesia. In addition to the losses, several regions in Papaua will lose IDR 8.5 trillion in revenue in the form of provincial government budget.
Indonesia signs IDR 717 million cocoa powder export deal with Egypt
PT Kans Agro Indonesia will export 25 tons of cocoa powder to Egypt through a contract worth IDR 717 million signed with A to Z for Import & Export on March 27, 2023.
K-pop fans call out to South Korea’s automotive giant Hyundai to withdraw from a planned coal power plant in North Kalimantan.
KPOP4PLANET, a fan-driven climate initiative, along with Indonesian fans of BTS (known as ARMY) wrote an open letter to South Korean automotive company Hyundai to withdraw from their recent agreement with Adaro in which the company invested in a 1.1 GW coal power plant and smelter construction in North Kalimantan.
House member pushes Freeport for solutions ahead of smelter deadline
A member of the House of Representatives, Nasril Bahar from the National Mandate Party, said that the law on minerals and coal regulated that smelter construction be completed in 2023.
House of Representatives member request Freeport to remove Tony Wenas from CEO position
A member of the House of Representatives requested PT Freeport Indonesia to remove the company's current Chief Executive Officer Tony Wenas from his position after the company failed to show commitment to meet the deadline for smelter construction.
Freeport speed up smelter construction ahead of copper export ban
PT Freeport Indonesia is gearing up to complete the construction of a copper smelter in Gresik, East Java, ahead of the government's plan to ban the export of copper ores and concentrate in June 2023.
Labour Party explains reasons for rejecting Job Creation Law
Labour Party President Said Iqbal explained the rejection of the Omnibus Law on Job Creations was based on several reasons. First, the Job Creation Law reinstates the concept of cheap wages, which will certainly affect laborers' welfare. The second is the Job Creation Law opens opportunities for lifetime outsourcing and removes restrictions on the type of jobs that can be outsourced. Consequently, based on the Job Creation Law, companies are allowed to outsource all types of jobs, including essential and core jobs of the company.