Industries

President Joko ‘Jokowi’ Widodo has on Wednesday (June 22) inspected construction of Sepaku Semoi dam in Penajam Paser Utara regency, East Kalimantan province, which marked the official inception of the development of Indonesia’s new capital, Nusantara. The dam, sitting over 378 hectares of land, is scheduled for completion early next year.

Diapers market leader PT Uni-Charm Indonesia Tbk (UCID) is among top losers in the past two years or so despite a relatively strong sales performance and bottom line. At the last quoted price (Rp1,190), UCID was worth Rp5 trillion only, on par its equity as March 31, 2022, way below its IPO price. 

Whoever becomes the next president, he or she can focus more in development of other important infrastructures because of more toll roads will be completed in the remaining two years of Joko ‘Jokowi’ Widodo’s presidency. Jokowi might add 5,000 km of toll roads within ten years against only 750 km when he entered the office eight years ago.

State telco operator Telkom Indonesia (TLKM) mulls to launch the initial public offering (IPO) for its subsidiaries, including PT Sigma Tata Sedaya which will be changed name into PT Telkom Data Center (TDC). Telkom also has an option to launch private placement or offering new shares to strategic investor.

President Joko ‘Jokowi’ Widodo inaugurated construction start of LG Energy Solution’s second EV battery plant in Batang Regency, Central Java province last Thursday (June 9). This is LG Energy Solution’s second EV battery project in Indonesia after commencing the first US$1.1 billion factory last September in Karawang, West Java.

Four sections of toll roads with combined length of 43 KM have entered commercial operation year-to-date. Sixteen others (332 KM) will gradually enter commercial operation in the coming months till year end. 

Puradelta Lestari (DMAS), an industrial estate developer controlled by Sinarmas Group, reported strong sales revenue growth of 16.3% in the first quarter of 2022, thanks to major investments from some global firms. 

Other than road, water infrastructure has improved significantly during the tenure of Joko ‘Jokowi’ Widodo. Some major water infrastructure projects have been completed, while more are scheduled for commercial operation this year onwards. 

Development of new ammonia and urea facility in Palembang, South Sumatra province by PT Pupuk Sriwijaya, subsidiary of Pupuk Indonesia (holding company for state fertilizer companies), is getting closer to construction. This is one of the largest anticipated investments in the petrochemical sector.