Indonesia booked trade surplus of US$3.6 billion in October 2020, jumped by 50.9% from September, thanks to 3.1% growth in export revenues, while import declined by 6.8%. As a result, the country posted US$17.07 billion of trade surplus in the first ten months of 2020 against deficit of US$2.12 billion in the corresponding period last year. 

Milk processor Ultrajaya Milk (ULTJ) suffered 11% year-on-year decline of sales revenues in third quarter 2020, but net profit increased by 25.3% to Rp383 billion. In the first nine months of 2020, sales revenues declined slightly by 2.9% year-on-year, while net profit increased by 15.2% to Rp938 billion. 

Despite the pandemic, Indonesia continues its infrastructure development without significant disruption. It is particularly true for toll road projects all over the country. Next month alone, the country will see physical completion of around 125 KM toll roads in Sumatra, Java, Kalimantan, and Sulawesi.

A consortium of CT Corp (Chairul Tanjung), Indika Group, PT U Connectivity Services, and PT Terminal Petikemas Surabaya might eventually be appointed operator of Patimban, which is set to become the largest port in Indonesia. A consortium of PT Samudera Indonesia Tbk (SMDR) and Kawasan Industri Jababeka (KIJA) is reportedly planning to challenge outcome of the public tender because CT Corp’s Consortium is the only one declared qualified. 

For the first time in history, export of iron and steel surpassed thermal coal. In September 2020, Indonesia recorded US$1.08 billion export revenues from iron & steel (HS 72), bigger than thermal coal (US$1.06 billion). With more stainless steel and carbon steel factories entering commercial operation in Morowali (Central Sulawesi) and Konawe (South Sulawesi), Indonesia might generate more from the industry, while thermal coal loses steam due to global oversupply.

President Joko ‘Jokowi’ Widodo has inaugurated commercial operation of the Manado-Danowudu section (26.35 KM) as part of the Manado-Bitung (39KM) toll road. The project is built under the Private Public Partnership (PPP). State-owned toll road operator Jasa Marga (JSMR) is the main investor. The toll road is slated to boost profile of Bitung special economic zone (SEZ), one of SEZs prioritized by central government. 

President Joko ‘Jokowi’ Widodo has on Tuesday (Sep 29) inaugurated commercial operation of the first toll road in North Sulawesi province. The Manado-Danowudu section (26.35 KM) is part of the Manado-Bitung (39 KM), which is expected to boost connectivity in the province, including the special economic zone of Bitung. 

There are at least three smelter grade alumina (SGA) projects in the construction phase in Indonesia during the pandemic. Two of them will likely enter commercial production in the coming months to lift the country’s profile in the world’s supply-chain of aluminium industry.

Petrochemical remains an attractive sector for investments, including to tap growing domestic demand for bleaching materials and disinfectant, which gained popularity due to the Covid-19 pandemic.

President Joko ‘Jokowi’ Widodo has on Friday (Sep 25) inaugurated commercial operation of Pekanbaru-Dumai toll road (131 KM) in Riau Province, which was built with Rp16.21 trillion of investment from state EPC firm PT Hutama Karya. The toll road will boost connectivity in the resources-rich province, which is home to major pulp-paper, palm oil, and oil & gas operations.