Just a few days before the year 2018 ended, the Ministry of Transportation published the Minister of Transportation Regulation (Permenhub) No. 118/2018, which is a new legal product on mobile-applications-based transportation services. So, what’s new?

On Friday Dec. 28, PT Aneka Tambang Tbk (ANTM) acquired 20 percent of PT Indonesia Chemical Alumina from Showa Denko K.K (SDK). With this additional portion of ownership, ANTM controls 100 percent of ICA. ICA operates a Chemical Grade Alumina (CGA) plant in Tayan, West Kalimantan.

Mineral processing industry is set to grow significantly next year with completion of expansion projects at Krakatau Steel (KRAS), Aneka Tambang (ANTM), Tsingshan Group, and others. Indonesia’s deficit in iron and steel, which steadily declined in the past four years, will reduce further next year onwards.

The benchmark March 2019 contracts of crude palm oil (CPO) ended higher by RM13 to RM2,118 per ton Friday (Dec 28). While the commodity has gained significantly from its bottom, palm oil producers might have to invest more in value-added products, i.e. oleochemicals, to tap both growing domestic and export market. 

The Ministry of Energy and Mineral Resources (ESDM) have not yet decided on the future of the Corridor Block and the Jabung Block. The contract for the management of the two blocks will expire in 2023. The Rimau Block, on the other hand, already has some clarity over its fate.

If you’re a buyer in Tokopedia, and have experienced some form of trouble with their service, the chances are you would find out that Tokopedia does not have a 24-hour call center. Shopee, on the other hand, has a 24-hour call center despite being the newer entry to the market. Why is there such a difference in customer care treatment? It’s because Indonesia has not yet regulated the standards for customer care in e-commerce.

On December 6, 2018, the Government of Indonesia held the Congress for Culture. It’s the Tenth Congress held ever since it began in 1918 with Congres voor Javaansche Cultuur Ontwikkeling in Surakarta. After one hundred years of assemblies, we’ve finally reached progress. President Joko “Jokowi” Widodo has promised to dedicate five trillion rupiah to start a Cultural Trust Fund. 

The plan to modify the Cilacap Refinery has been long discussed, but it has yet to reach the implementation stage. PT Pertamina signed a Heads of Agreement (HoA) with Saudi Aramco in November 2015 for this project with the year 2022 as the targeted year of completion. Pertamina, however, pushed the completion target further to 2024. Saudi Aramco’s demands are the frequently cited cause of the setback.

Previously, the Minister of Finance Sri Mulyani said that Freeport Indonesia’s tax rate will be fixed to 2041, despite changes in government taxation policies. That means Freeport Indonesia’s tax rate will remain 25 percent for PPN and 10 percent for PPh. Royalty will also not change with gold being 3.75 percent, and copper being 4 percent. Holders of coal contract of work (PKP2B) are demanding the same treatment.

Ever since the Central Government decided that Pertamina will take over the management of the Rokan Block in Riau from Chevron Pacific Indonesia, questions have emerged on whether the State-owned Enterprise would be able to maintain a decent production rate. Now we have the answer. The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) has  set the Rokan Block’s target of production for the year 2019 at 180,000 barrels per day. It’s a big decrease in estimate from the one noted in the 2018 budget, wherein the lifting target of the Rokan Block was set at 213,551 barrels per day.