The Indonesian government is continuing to investigate acute kidney injury among children, which has linked to the presence of certain harmful compounds in syrup medicines. The move comes as the world’s fourth most populous country suffers a spike in cases of acute kidney injury that has killed nearly 200 children since the end of August, prompting an investigation and ban on the sale of some syrup medicines.

The government will soon open tender for the development of two strategic toll roads in the greater Jakarta with combined investment of Rp41.68 trillion or about US$2.7 billion. They are the Semanan-Balaraja (32.39 KM) in the western part of Jakarta and the Cikunir-Karawaci (40.5 KM) connecting east and west of Jakarta. 

The increase in fuel prices, threat of a global warming crisis, the scarcity of fossil energy and recently added the threat of an economic recession, have made the automotive industry aggressively develop electric vehicles. Pioneered, among others, by the Tesla manufacturer, which from the beginning only made electric cars, now almost all automotive brands offer their electric vehicle models as an alternative. The governments in various parts of the world also provide incentives for electric vehicles, including in Indonesia.

Indonesia is targeting to build its first Special Economic Zone (SEZ) for health and tourism in Bali Island as the President Joko “Jokowi” Widodo has officially established the said SEZ with Rp10.2 trillion of investment. 

Kudos to the Jokowi administration! After three decades, the Bekasi-Cawang-Kampung Melayu (Becakayu) toll road, which connects Jakarta and Bekasi in West Java province, has finally completed and will soon fully operational.

The Dutch animal feed producer company De Heus has recently opened its fourth animal feed factory in an area of five hectares in the Pasuruan Industrial Estate Rembang (PIER), East Java province, which is managed by the state-owned company PT Surabaya Industrial Estate Rungkut (SIER).

Oversupply and higher energy costs are still the main challenges faced by cement makers. In the first nine months of 2022, cement makers came up with mixed results. Semen Indonesia (SMGR), market leader, posted 19.5% increase in net profit, while second largest player Indocement INTP) reported a 21.6% fall in net profit. 

Investors were not impressed by financial performance of state steel producer Krakatau Steel (KRAS). Shares of KRAS collapsed 6.91% Tuesday (Nov 1) even when the company reported profit attributable to owners of US$80 million in first nine months (9M) to September of 2022, grew 35.6% year on year (y/y).

Construction of a petrochemical plant, slated to become one of the world’s largest, in the Kuning-Mangkupadi Indonesian Green Industrial Estate (KIHI), Tanjung Palas Timur District, Bulungan Regency, North Kalimantan province, is scheduled to start next year.

Shares of Chandra Asri (TPIA), the country’s largest petrochemical company, have fallen from peak at Rp10,750 in early April to as low as Rp2,440 on Monday (Oct 31) to make a market capitalization of Rp52.8 trillion in line with the weakening bottom line.