#Manufacturing
Risks, opportunities of EVs in Indonesia
The recent Gaikindo (Association of Indonesian Automotive Manufacturers) Indonesia International Auto Show (GIIAS) promoted automotive electrification of various brands. A total of 24 carmakers took part in the annual event including major brands of Toyota, Mazda, Nissan, Wuling and Hyundai. Motorcycle producers and components also took part in the event.
Government provides support to automotive industry facilities, including EVs
ASEAN is the largest automotive market in the world where many brands trade their vehicle products from various parts of the world. The 10 Southeast Asian member states have a bright projection for the automotive market with the trend of increasing economic growth with high absorption capacity that can attract foreign investors and reduce dependence on automotive imports.
Chinese brand Wuling promote EVs in Indonesia
The new era of electric vehicle (EV) drives Wuling Motors to develop more EV cars in the future in Indonesia. With a thousand pre-orders on its latest products in 2022, Wuling Indonesia is currently following suit its parent company in China to develop more EVs for the market segment in Indonesia which is presently high-end.
Indonesia to ban other raw mineral exports after nickel ore ban's success
Following the success of nickel ores export ban and the development of its downstream industry, the government will apply the same prohibition to ores such as copper, bauxite and tins.
Surveyor Indonesia verifies Freeport's smelter progress for export duty reduction
PT Surveyor Indonesia Tbk is verifying the progress of gold and copper mining company PT Freeport Indonesia (PTFI)'s smelter in Gresik, East Java. The verification is needed to decide if it has reached more than 30% progress as claimed by the Energy and Mineral Resources Ministry and the company itself. Based on the regulation, Freeport can secure export duty reduction from 5% to 2.5% if the progress on smelter is more than 30%.
Astra records IDR143.69 trillion net income, absorbs IDR8 trillion Capex in H1 2022
PT Astra International Tbk posted a net income of IDR143.69 trillion in the first half of 2022, a 34% increase from the same period last year. The multinational conglomeration also absorbed IDR8 trillion of the allocated IDR20 trillion capital expenditure (Capex) in H1 2022 for business expansion.
Bukaka allocates IDR500 billion in Capex
PT Bukaka Teknik Utama Tbk (BUKK) has allocated IDR500 billion in capital expenditure (Capex) for 2022 for the company subsidiaries' business development to increase profits and sales.
Gajah Tunggal to spend US$10 billion for maintenance, machine procurement
PT Gajah Tunggal Tbk has prepared a US$ 10 billion capital expenditure (Capex) for machine maintenance and semi-automated machine procurement.
Merdeka Tsingshan (MTI) gets injection to raise copper facility management
MTI received a capital injection from PT Merdeka Copper Gold Tbk (MDKA) to increase copper facility management in Morowali for export on Monday 1st August 2022 which was promised on 29th July 2022.
Silo Maritime readies Capex of US$100 million to procure new ships
PT Sillo Maritime Perdana Tbk has allocated US$100 million of capital expenditure (Capex) to procure new ships. This year's Capex is 82% higher compared to the 2021's.
Toba Surimi goes public to increase production capacity
PT Toba Surimi Industries conducted initial public offering (IPO) on August 2, 2022, and raised IDR58.5 billion funds for capital expenditure (Capex) to increase its production capacity.
Indomobil Sukses to spend IDR 2 trillion of Capex on rental services development
Automotive distributor PT Indomobil Sukses Internasional Tbk has planned to spend IDR2 trillion of capital expenditure (Capex) to further develop its car rental services, logistics and other business sector.