Industries

There were media reports about complaints from buyers of apartment units at Antasari Place (previously Antasari 45) due to the delay in delivery of the products. The new owner, however, logged complaints about those media reports because they’re deemed damaging reputation of the new owner. 

Anies Baswedan, president candidate from NasDem, Democratic Party, and PKS, recently criticized the government’s plan to ‘subsidize’ electric vehicles. The government, through coordinating ministry for maritime and investment affairs, responded by saying the government will not subsidize EV, but reduce tax components instead. We’re not going to discuss this further, but elsewhere EV has continued to take away the automotive market from combustion engine cars.

President Joko Widodo (Jokowi) on Monday (May 15) received a visit from a delegation from South Korea (South Korea) led by Minister of Agriculture Chung Hwang-Keun and leaders of LG Energy Solution, Hyundai, CJ Group and LS Group.

Sinarmas, one of the largest business groups in the country, has kicked off yet another major expansion. This time is in one of Widjaja Family’s core business: pulp and paper. The Group’s pulp and paper firm Indah Kiat Pulp & Paper (INKP) plans to build new paper mills with estimated investment of US$3.62 billion or equivalent to Rp57.14 trillion in Karawang, West Java.

Link Net (LINK), provider of broadband Internet and cable TV, suffered 14.3% decline in sales revenues from pay TV services in the first quarter of 2023 following 6.7% decline in full year 2022. Pretty much as predicted, consumer preferences might have caused a shift in the entertainment market due to the fast growing streaming services.

State-owned China Triumph International Engineering Co Ltd (CTIEC), the world’s largest glass engineering service provider, will build the largest high-end glass factory in Indonesia with 1,200 metric tons per day of capacity. 

Merdeka Battery Materials (MBMA), subsidiary of PT Merdeka Copper Gold Tbk (MDKA), co-owned by Garibaldi ‘Boy’ Thohir, Saratoga (Soeryadjaya/Sandiaga Uno), and Provident Capital, will acquire a 60% stake in nickel producer PT Huaneng Metal Industry (HNMI) with a transaction value of US$75 million, equivalent to Rp1.1 trillion. 

Nearly half of around 4 million high school students graduated every year failed to enter universities in Indonesia, among others due to limited capacity of public universities and expensive tuition fees. Can we push public universities to expand their capacity?

An integrated cold chain solutions provider start-up Coldspace has announced the completion of a US$3.8 million seed funding led by Intudo Ventures, along with logistics company Adi Sarana Armada (ASSA), and Triputra Group controlled by Theodore P Rahmat. 

Russian Sukhoi once tried but abruptly ended with the crash of Superjet 100 (SSJ-100) during a second joy flight from Halim Perdanakusuma airport in Jakarta in May 2012. On board were representatives from some airlines like Aviastar, Batavia Air, Pelita Air Service, and Sriwijaya Air. Back then, Sukhoi claimed already receiving orders for 42 aircrafts from Indonesian airlines.