AMNT-Macmahon Deal Completed, Next?
AMC, subsidiary of PT Amman Mineral Nusa Tenggara (AMNT), has completed the acquisition of ASX-listed mining services company Macmahon. The Indonesian company, which owns Batu Hijau gold and copper mine in Sumbawa, West Nusa Tenggara, officially controls 44.3% shares of Macmahon, which has market capitalization of A$213.52 million as of Tuesday (Aug 8).
Tsingshan’s Major Bet in Indonesia
Chinese giant Tsingshan Group is probably the most aggressive foreign investor in Indonesia. The group is known for multi billion dollar nickel-to-stainless steel complex in Morowali, Central Sulawesi province. While the government’s policy to resume export of low-grade nickel ores might have hurt its smelters in Sulawesi, Tsingshan continues its bet in Indonesia.
PTPP & Bantaeng Refinery-Storage Project
Most major newspapers published articles about PT Perusahaan Pembangunan Tbk (PTPP) this morning under the title ‘PTPP Acquires Refinery for Rp7 Trillion’. This is not the right term, because the total investment value for the project itself is only Rp7.5 trillion, and that the refinery is not there yet.
Microcell Pole, The New Battleground for Competition? (2)
Independent tower operator PT Centratama Telekomunikasi Indonesia (CENT) Tbk is currently the fastest growing tower operator in the country. In the first half of 2017, the Company enjoyed 426% jump in sales revenue to Rp337 billion, thanks to strong growth from the so-called in-building-coverage rent segment.
Infrastructure Journal No.28/2017: More Investors
A team from Regional Infrastructure Development Agency (BPIW) inspected supporting infrastructure of Labuan Bajo, one of 10 tourist destinations prioritized by Jokowi-Kalla administration, in Flores Island last week. The government currently builds 8.2 KM of access road to Komodo Airport, which will later on be connected to northern shore of trans-Flores road.
Ultratech Gives Up Indonesian Cement Venture?
Ultratech, India’s biggest cement producer, was among foreign investors planning to build cement mills in Indonesia. The Company has engaged local business group to build the mill with estimated output of 4 million tons per annum. But, looks like that Ultratech’s project didn’t go through as expected.
Japan Gains More from 35,000 MW Program
Itochu Corporation (Japan), Hyundai Engineering Co Ltd, and PT Truba Jaya Engineering have last week signed EPC contract worth US$400 million for the construction of Kalselteng-2 coal-fired power plant with Indonesia’s state-owned electric power company PLN. Boilers for the power plant will be supplied by IHI Corporation, while Fuji Electric provides the steam turbine generators.
Japan Tobacco Heats Up Competition
After years of speculation surrounding Japan Tobacco Inc’s possible investment in Indonesia, the world giant has on Friday, Aug 4, announced acquisition of PT Karya Dibya Mahardhika, Indonesian clove cigarette (kretek) maker, and its distribution company PT Surya Mustika Nusantara in a deal valued reportedly around US$1 billion.
Bright Spot of The Economy (2): Infrastructure
Angkasa Pura II, state-owned airport management company, which manages, among others, Soekarno-Hatta International Airport in Jakarta, booked net profit of Rp1.12 trillion in the first half of 2017, flat compared to the corresponding period last year, but this was attributable to Rp375 billion of tax expenses against zero in the first half of 2016.
Chevron’s Contract for Rokan May Be Extended to 2041
The Minister of Energy and Mineral Resources (ESDM) Ignasius Jonan may accept PT Chevron Indonesia’s request for an extension of their contract in Rokan Block. Rokan covers 6,264 square kilometers. In 2016 the Block produced 256.000 barrels per day, or one third of the total national production. Chevron has been managing Rokan since 1971.