#Primary
IPO Leak: Another Prajogo Pangestu’s grandchild company to go public
Tycoon Prajogo Pangestu continues to make waves on the Indonesia Stock Exchange (IDX) as he is now reportedly preparing to launch another IPO from his mining and energy business line under PT Petrindo Jaya Kreasi (CUAN) after successfully listing PT Chandra Daya Investasi − an infrastructure investment arm of PT Chandra Asri Pacific (TPIA).
Barito Pacific denies IPO plans for Griya Idola, gold mining arm amid speculation
PT Barito Pacific (BRPT) has dismissed market speculation surrounding the rumored initial public offering (IPO) of two companies linked to Indonesia’s richest man Prajogo Pangestu − its property subsidiary PT Griya Idola and an unnamed gold mining company.
Merdeka Copper narrows losses in Q1 2025, Pani Gold project on track for 2026 launch
Indonesian mining firm PT Merdeka Copper Gold (MDKA), affiliated with prominent businessman Garibaldi “Boy” Thohir, reported a net loss of US$3.73 million (Rp60.52 billion) in the first quarter of 2025, a 75.5 percent improvement compared to the same period last year when losses reached US$15.22 million.
Indika Energy secures Rp6.1 T loan to repay debt, fund Awak Mas gold project
PT Indika Energy (INDY) has secured a multicurrency loan of Rp6.1 trillion (US$376 million) from four major domestic banks, aimed at both refinancing existing debt and developing the Awak Mas gold mining project in South Sulawesi.
Aster Chemicals secures ownership of Jurong refinery unit in expansion move
Aster Chemicals and Energy Pte Ltd, a joint venture between PT Chandra Asri Pacific and global commodity giant Glencore, has announced the signing of an agreement to acquire a 50 percent beneficial interest in Petrochemical Corporation of Singapore (PCS) Pte. Ltd.’s Condensate Splitter Unit (CSU) and related infrastructure located on Jurong Island, Singapore.
BUMI acquires Australian gold and copper miner Wolfram, issues bonds to fund deal
PT Bumi Resources (BUMI), a subsidiary of Bakrie Group, and one of Indonesia’s largest mining companies, is set to acquire Australian gold and copper mining firm Wolfram Limited in a diversification move worth Rp350 billion (US$21 million).
RMK energy to issue Rp1.5 T bonds to strengthen coal logistics, expansion
PT RMK Energy (RMKE), a listed coal logistics service provider, is planning to issue its first phase of Sustainable Bonds I 2025, targeting a total issuance of Rp1.5 trillion (US$91 million). In the initial phase, the company aims to raise Rp500 billion through bonds offered in two series.
Ministry uncovers environmental violations at Indonesia Morowali Industrial Park
The Ministry of Environment has uncovered a series of serious environmental violations at the Indonesia Morowali Industrial Park (IMIP) − a major nickel-based industrial zone spanning 2,000 hectares (ha) in Central Sulawesi − including illegal land clearing, unlicensed facilities, improper waste disposal, and dangerously high pollution levels.
Government wins environmental lawsuit against nickel miners in Southeast Sulawesi
The Ministry of Environment has secured a legal victory against two nickel mining firms − PT James & Armando Pundimas (PT JAP) and PT Bhima Amarta Mining (PT BAM) − for illegal mining activities in protected forest areas of North Konawe, Southeast Sulawesi.
Indonesia secures US$800 M investment for strategic chemical plant construction
Indonesia is taking a major step toward strengthening its industrial base and reducing reliance on imported raw materials with the signing of a Memorandum of Understanding (MoU) between the State investment management agency Danantara, the Indonesia Investment Authority (INA), and petrochemical and energy giant PT Chandra Asri Pacific (TPIA).
PT Bukit Asam sets record CAPEX at Rp7.2 T for 2025 amid coal price volatility
State-owned mining company PT Bukit Asam (PTBA) has announced a significant increase in its Capital Expenditure (CAPEX) for 2025, allocating Rp7.2 trillion (US$441.7 billion) − more than triple the realized CAPEX of around Rp2.3 trillion in 2024.
Indonesia eyes seaweed as next green gold with promising downstream investment
Chairman of the National Economic Council (DEN), Luhut Binsar Pandjaitan, has announced growing investor interest in Indonesia’s seaweed downstreaming program, with State inestment management agency Daya Anagara Nusantara (Danantara) among the companies looking to invest.