More Nickel Facilities Entering Production Stage
PT Huayue Nickel Cobalt, subsidiary of Huayou Cobalt Group, has just produced its first batch of nickel-cobalt hydroxide from its smelter in the Indonesia Morowali Industrial Park (IMIP), Central Sulawesi province. This becomes the second company in Indonesia to produce nickel and cobalt sulphates, main precursors for EV battery.
Toll Road Projects Update & Outlook
The Manado-Bitung toll road in North Sulawesi province (40 KM) is getting closer to full commercial operation. The last section (2B, connecting Danowudu-Bitung) has just been opened for the Christmas and New Year holidays. With 99.9% physical construction, the section shall be fully commercial in the first quarter of 2022.
The Russian Lobby Continues
The Air Force Chief of Staff (KSAU) Air Chief Marshal Fadjar Prasetyo told the press that the Air Force has had to abandon the plan to purchase the Russian Sukhoi Su-35 fighters. Nevertheless, some believe that the game isn’t over as Russia continues to lobby.
Erick Thohir, the Dismissal of BUMN Directors, and Conflict of Interest
Minister of State-owned Enterprises (BUMN), Erick Thohir made Nico Kanter director of PT Aneka Tambang Tbk (ANTM) to replace Dana Amin. Nico is the best choice because he has a lot of experience in mining companies, such as BP Tangguh. Nico was also the President Director of PT Vale Indonesia, the second-largest nickel mining company in the country, after PT Indonesia Morowali Industrial Park. Nico is a director who has a good portfolio in the mining sector.
Gojek’s Electric Push
Gojek’s venture into electric vehicles is becoming increasingly real. It announced a joint venture with TBS Energi Utama (TOBA) last month to form Electrum to manufacture electric vehicles and its supporting technology. In the same month, Gojek also announced its trial with Gogoro to operate electric motorcycles in Jakarta last month. In addition to that, Gojek also works with the Gesits electric motorcycles. Battery swapping is at the core of this new venture.
Revisiting Medco Energi
Oil and gas firm Medco Energi Internasional (MEDC) reported an EBITDA of US$508 million in the first nine months (9M) to September of 202. It grew 25% year on year (y/y), mainly due to recovering commodity prices. Medco’s realized oil prices jumped 62% y/y to US$64.1/bbl, while weighted average gas price rose 23% y/y to US$6.3/mmbtu.
A faster EVolution
Germany’s new government has just extended up to 9,000 Euro subsidy for the purchase of electric cars for another year in a bid to see 15 million purely electrified cars in circulation by 2030. Germany, the world’s fifth largest auto market, saw Tesla taking 2.8% market share last month, bigger than Toyota (2.6%). New factory in Berlin, scheduled this month, will likely strengthen Tesla’s position in the market.
A more competitive dairy industry
On Friday (Dec 10), minister of industry Agus Gumiwang Kartasasmita, inaugurated commercial operation of PT Yili Indonesia Dairy’s ice cream factory in Bekasi Regency, West Java province. PT Yili Dairy Indonesia has by far invested Rp1.9 trillion out of a total plan of Rp2.5 trillion. PT Yili Indonesia Dairy claims the largest ice cream factory in the country.
Growing pharmaceutical ingredients
Compared to major emerging economies like China and India, Indonesia has a significantly weaker and less developed pharmaceutical industry. The country relies heavily on imported products, especially active pharmaceutical ingredients (APIs).
More opposition on StreetScooter acquisition
The clock is ticking to the deadline (November 29) to complete the deal. But, Basuki Tjahaja Purnama (Ahok), chairman of state oil and gas company Pertamina, joined the opposition to a plan from PT Indonesia Battery Corporation (IBC), where Pertamina is a member, to acquire StreetScooter, an electric vehicle subsidiary of Deutsche Post.