Tsingshan, the world’s largest stainless steel producer, is the main force behind massive growth of the Indonesia Morowali Industrial Park (IMIP) in Central Sulawesi province and the Indonesia Weda Bay Industrial Park (IWIP) in North Maluku province. Hundreds of companies have established joint ventures in these industrial parks, which are responsible for substantial growth of Indonesia’s export of nickel-based iron and steel products.
Read MoreDevelopment of two multi billion dollar toll road projects in Java Island, the one connecting Solo-Yogyakarta-Kulonprogo and Yogya-Semarang (Bawen), which will unlock economic potentials in central part of the island, progressed well despite difficulties in land acquisitions.
Read MoreProperty developer Alam Sutera Realty (ASRI) booked profit attributable to owners of Rp218.5 billion in the first half (H1) of 2022, against loss of Rp248.1 billion in the corresponding period of 2021, as sales and revenues jumped 72.7% year on year (y/y) to 1.95 trillion. ASRI’s gross profit doubled to Rp1.09 trillion, while operating expenses fell 13.4% y/y to Rp889.9 billion.
Read MoreThe recent decision from Bank Indonesia to raise benchmark rates might slow down lending in the last quarter of the years, especially if the government will also raise fuel price. Banking lending or credit grew 10.5% year on year (y/y) in July 2022, after 10.4% growth in previous month, led by credit for working capital and consumption.
Read MoreState coal miner Bukit Asam (PTBA) booked profit attributable to owners of Rp6.16 trillion in the first half (H1) of 2022, surged 246.14% year on year (y/y), as revenues jumped 79% y/y to Rp18.42 trillion. This should be a momentum to speed up its development projects, including supporting parent company MIND ID’s multi billion dollar projects.
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