Industries

Singapore’s Sembcorp Industries, through its subsidiary Sembcorp Development, has signed a memorandum of understanding (MoU) with Panbil Group, a company controlled by Johannes Kennedy Aritonang, to jointly develop two projects of low carbon industrial parks in Batam, Riau Islands.

We all know close relationship between Hashim Djojohadikusumo, brother of president elect Prabowo Subianto, and Nathaniel Rothschild as shown in Hashim’s support for Rothschild in the fight to control Bumi Resources (BUMI), the largest coal mining company in Indonesia, which is now co-owned by Bakrie and Salim groups.

Arthaloka was among the first high-rise properties in the famous Sudirman Street, Jakarta. Many years ago, Rudy Pamaputera as CEO of PT Mahkota Real Estate wrote a letter to President Joko ‘Jokowi’ Widodo regarding dispute over the land where Arthaloka was located.

Young population and growing senior citizens continue to support growth of diapers in the country. Competition in the industry has intensified, but Uni-Charm (Japanese-controlled player) recorded a decent Rp435 billion of net profit last year, jumped from Rp313 billion in 2022.

Indonesia welcomed 1.17 million visits of foreigners in June, which increased by 2.06% compared to May 2024. It means that the country has welcomed 6.41 million visits in the six months of 2024, an increase of 21.02% from the corresponding period last year. The total number of foreign tourist visits during this period was the highest since the Covid-19 pandemic in 2020.

Shares of Chandra Asri (TPIA), the largest petrochemical company in Indonesia, ended higher by 1.81% on Thursday (Aug 1) even when the company reported net loss of US$47.5 million in the first half of 2024, skyrocketed from loss of less than one million dollars in the corresponding period last year.

Iron and steel (HS 72) has taken over palm oil as the second largest export commodity from Indonesia in the first half of 2024 with US$12.56 billion, down slightly by 2.82% from the corresponding period last year. If combined with nickel (HS 75) and gold (HS 71), basic metal processing has actually become the largest export, significantly bigger than coal.

Shares of Mayapada Hospital (SRAJ) have skyrocketed from Rp218 last December to as high as Rp2,290 this week on speculations about the entry of strategic investor following what happened at Siloam Hospital (SILO). 

Pretty much like in the past (during Soeharto years) in the development of industrial estates, the governments after the reform granted out more special economic zones (SEZs) to their cronies.