Author: yosefardi.com

Decarbonization projects to watch (2)

The government has just ‘suspended’ implementation of Minister of Energy and Mineral Resources Regulation No. 26/2021 about Rooftop Solar Power Plant connected to public grid only months after its deliberation. The decision upsets stakeholders, especially developers of rooftop solar power projects. Still, there are a lot of initiatives out there to accelerate decarbonization in the country.

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Coal Update

We briefly spoke with the Director General of Mineral and Coal, Ridwan Djamaludin, on Jan. 19, regarding coal issues, exports, and contract extensions for PT Kaltim Prima Coal (KPC), a subsidiary of PT Bumi Resources Tbk under the Bakrie Group.

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KPK’s Investigation into Formula E Continues

The Corruption Eradication Commission (KPK) continues its investigation into the allegations of corruption related to Formula E Championship, the flagship project of Jakarta Governor Anies Baswedan. The KPK recently examined Dino Patti Djalal, former vice minister of foreign affairs under the administration of the sixth President Susilo Bambang Yudhoyono (SBY). The examination is worth highlighting considering Dino’s role in the project, and his relationship with Anies and other high-profile figures in the country.

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Decarbonization projects to watch (1)

Tsingshan, the world’s largest stainless steel producer, which is the main driver of nickel-related investments in the Indonesia Morowali Industrial Park (IMIP) and Indonesia Weda Bay Industrial Park (IWIP), has early last year announced a plan to develop 2,000 MW clean energy power plants in three-five years time.

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Corruption in Jasindo: The End?

It has been over four years since the Corruption Eradication Commission (KPK) first announced its investigation into allegations of corruption involving State-owned insurance company PT Asuransi Jasa Indonesia (Jasindo). The lengthy process of investigation and inquisition has finally come to an end after the last two defendants in the case were found guilty this week. 

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KPK Sting Operation: East Kalimantan

Entering the third week of 2022, the Corruption Eradication Commission (KPK) has shocked the public thrice with sting operations. The latest two happened in less than a week’s time. Last week, the KPK arrested a dozen people in two separate locations in Jakarta and East Kalimantan. It later named the Regent of Penajam Paser Utara, Abdul Gafur Mas’ud (Democratic Party), a suspect of corruption. This week, the KPK arrested several people in North Sumatera, and named the Regent of Langkat, Terbit Rencana Perangin Angin (Golkar), a suspect. Let’s talk about East Kalimantan and its “tradition” of corruption.

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Medco-ConocoPhillips Acquisition

Oil and gas firm Medco Energi Internasional (MEDC) said it has, through its subsidiary (Medco Energi Global Pte Ltd/MEG), signed the sale and purchase agreement (SPA) on Dec. 8, 2021, for acquiring ConocoPhillips Indonesia Holding Ltd (CIHL).

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Fund Raising

State contraction firm Waskita Karya (WSKT) has raised Rp9.44 trillion from offering 19.29 billion new shares (rights issue), at a price of Rp620, of which government capital injection accounted for Rp7.9 trillion and public investors contributed Rp1.54 trillion.

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Budget for PEN & IKN

Finance Minister Sri Mulyani Indrawati has on Wednesday (January 19) made a hearing with the Commission XI of House Representatives (DPR) presenting about the budget allocation for building a new state capital (IKN) in East Kalimantan.

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