Chandra Asri & The Singapore acquisition
Shell plc, through its subsidiary Shell Singapore Pte. Ltd, has completed the previously announced sale of its Shell Energy and Chemicals Park (SECP) to CAPGC Pte. Ltd on March 28, 2025. CAPGC is a joint venture firm that is majority-owned and operated by Chandra Asri (TPIA), the leading chemical and infrastructure company in Indonesia and minority-owned by Glencore through their respective subsidiary companies.
Berger heats up paint industry
Berger Paints, Singapore paint producer, has acquired 100% of Asian Paints International Pvt Ltd’s subsidiaries, PT Asian Paints Indonesia and PT Asian Paints Color Indonesia for SG$7.5 million. Both subsidiaries own manufacturing facility located in Karawang Industrial Estate, West Java province that spans in 5.3 hectares of land.
The mini Apple deal
Indonesian government has finally accepted US$160 million ‘investment commitment’ from Apple Inc, far below initial demand of US$1 billion. With the so-called ‘innovation investment scheme’ to meet 35 percent local content, Apple Inc may resume sales of iPhone 16 in the country.
Downstream projects & Danantara
Minister of energy & mineral resources Bahlil Lahadalia, who is also head of Task Force for downstream industry development (which is strange given the existence of ministry of investment & downstream), claimed that he has proposed some downstream projects to President Prabowo Subianto that would be financed by Danantara.
The growing EV ecosystem
State-owned electricity firm PLN has provided a total of 3,500 public electric vehicle charging stations (SPKLU) at 2,412 strategic points across Indonesia for anticipating the surge in EV users during the 2025 Eid homecoming season. This year, EV usage during Eid homecoming is projected to reach 21,570 vehicles, surged from 4,314 vehicles last year.
EV Update
Shares of Tesla, used to be the world’s largest EV manufacturer, has collapsed 50% since Elon Musk joined Trump administration. BYD, which has taken over the top spot from Tesla, on the other hand, gained nearly 30% in the same period.
Pressures on steel industry
Steel rebar and hot-rolled-coils (HRC) steel moved different ways so far. Steel rebar moved south as some countries imposed higher import tariffs on Chinese products, while HRC steel went north, gaining 28%. All of these would significantly impacting Indonesian economy, because iron & steel is now third largest export commodity behind thermal coal and palm oil.
New cement project in Central Java?
Central Java governor Ahmad Luthfi, who is now cadre of President Prabowo’s Gerindra Party, has just welcomed leaders of PT Anugerah Andalan Asia, which plans to build new cement mill in Wonogiri Regency with estimated investment of Rp6 trillion. What happened to the moratorium policy from Central Government?
Reality check on Uni-Charm Indonesia
Shares of diapers manufacturer PT Uni-Charm Indonesia Tbk (UCID), a joint venture between Sinarmas Group (Widjaja Family) and Unicharm Corporation (Japan), ended lower by 0.74% on Tuesday (Mar 11) as investors responded negatively the company’s financial performance last year.
Kapal Api Heats Up the Bottled Water Market
The bottled water industry in Indonesia is a highly competitive market dominated by major brands such as Aqua (Danone), Le Minerale (Mayora), Cleo (Tanobel), and Ades (Coca-Cola Amatil). Amid this intense competition, PT Wahana Pronatural,Tbk (WAPO)-a listed company that linked to families controlling Kapal Api Group- has launched Air Alam, a new bottled water brand poised to shake up the market.