Day: September 20, 2022

PUPN and Bad Debtors 

Sep 20, 2022 |

The Satuan Tugas Penanganan Hak Tagih Negara Dana Bantuan Likuiditas Bank Indonesia (Satgas BLBI) continue working despite a lot of resistance. In doing their job, the Satgas received help from other parties including State Receivable Affairs Committee (Panitia Urusan Piutang Negara – PUPN). However, despite its importance, PUPN have a weak authority. That said, the Government recently issued Government Regulation (PP) No. 28/2022 to strengthen the duties and authorities of PUPN. 

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Incentives following the New Capital (IKN) Project

Sep 20, 2022 |

The development of Indonesia’s new capital, Nusantara, is ongoing. There are so many things happening at the same time and in such a short time, while the Government is looking for investors.  Last week, it was made known that the Government was drafting a Government Regulation on Ease of Doing Business. There, the Government is planning to offer several incentives. 

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Virtual Reality in Morotai?

Sep 20, 2022 |

Township and industrial estate developer Kawasan Industri Jababeka (KIJA) has developed Correctio, the so-called ‘Indonesia’s Silicon Valley’ in Bekasi, West Java province. Supported by ministry of industry, the company has engaged state research agency BRIN, Indogen, BISA AI, Telkomsel, Mitsubishi Heavy Industries, Auk Industries, Gamatechno, Arcstone, and SemCorp.

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M&A Update

Sep 20, 2022 |

Automotive trading firm Astra International (ASII), through PT Sedaya Multi Investama (SMI) or Astra Financial, has concluded the acquisition over 1.13 million shares of PT Bank Jasa Jakarta (BJJ), representing 49.56% of total issued and paid-up capital in BJJ, for Rp3.87 trillion value.

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Corporations to Watch

Sep 20, 2022 |

Aneka Tambang (ANTM) is clearly a company to watch in the context of growing demand for electric vehicle (EV). ANTM has just consolidated its nickel assets in North Maluku province, which will eventually be partly divested to strategic partners.

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