Other than Mubadala-Chandra Asri and Adnoc-Pertamina, Abu Dhabi Crown Prince and President Joko Widodo witnessed the signing of a memorandum of understanding between Maspion Group (Alim Markus Family) and DP World Asia for the development of new container terminal in East Java province.

Premier League remains the world’s most attractive football competition, including in Indonesia. Interesting that the new player in the media television business, PT Global Media Visual (MOLA TV) won rights to air the competition for the next three seasons: 2019/20, 2020/21, and 2021/22. The agreement between MOLA TV and The Football Association Premier League Limited was signed in August 2018.

Ministry of industry predicts Indonesia’s export of textile and garment will reach US$15 billion this year, an increase of 13% from last year even though the first five months was relatively flat compared to the corresponding period last year. The ministry believes trade war between USA and China could benefit Indonesian producers.

Minister of industry affairs Airlangga Hartarto, who is also chairman of Golkar Party, revealed a plan from Compal Group, manufacturer of Apple products like iPad and iWatch, to build factories in Indonesia. Compal yet to make final investment decision (FID), but the government has offered tax holiday incentive.

Giant food processor Mayora Indah (MYOR) booked net profit of Rp807 billion in the first half ended June 30, 2019, an increase of 9.7% from the corresponding period last year. Forex loss of Rp103 billion contributed to the modest growth of net profit. At the current price, Mayora has market capitalization of Rp51 trillion (US$3.6 billion), equals to 5.4 x equity as at June 30, 2019.

Crown Prince of the Emirate of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan, colloquially known by his initials as MBZ, will be in Jakarta this week. MBZ is scheduled to meet president Joko ‘Jokowi’ Widodo and witnessing the signing of at least two investments by Mubadala Investment Company and Abu Dhabi National Oil Company (ADNOC). Mubadala is set to sign US$2.5 billion petrochemical project with Chandra Asri (TPIA), the country’s largest petrochemical company.

Draft of a new regulation on battery electric vehicle, set to benefit domestic nickel miners, is now at the president Jokowi’s desk for signing. At the same time, the government reiterated its intention to stop export of nickel ores as scheduled in 2022.

The past 12 months has been fascinating as the government cleared up pending issues for major projects in the country. Divestment of shares and extension of contracts paved the way for Freeport’s US$10 billion projects in Grasberg, Papua (underground mining) and Gresik, East Java (copper smelter). Yesterday, President Joko Widodo witnessed the delivery of approval for revised plan of development for US$20 billion Masela project to Inpex CEO. This also paves the way for US$2 billion petrochemical project onshore of Maluku province.

First half of 2019 was not convincing for cement, automotive, and textile & garment. Domestic cement sales, for example, declined 1.91% to 28.79 million tons. Sales of cars, meanwhile, declined by 15% in the period. They need a significantly stronger second half to save the year.