Update on Pertamina’s Refineries
The President Director of Pertamina has the huge responsibility of finalizing big projects under the Refinery Development Master Plan (RDMP). Ever since Nicke Widyawati became the President DIrector of Pertamina, she’s made it clear that the RDMP projects will show progress, particularly the one in Balikpapan, which should show progress this year for it requires no help from an investment partner.
TBIG-GOLD Acquisition
Telco tower operator Tower Bersama Infrastructure (TBIG), a company co-owned by Saratoga Group and Provident Capital, had on Friday last week (Nov 30) signed the sale and purchase agreement (SPA) for 51% shares in telco tower operator Visi Telekomunikasi Infrastructure (GOLD).
Weaker Q3 of Antam
Aneka Tambang (ANTM), subsidiary of state mining giant INALUM, booked a net profit of Rp287 billion in the third quarter (Q3) ended September 30, 2018, dropped 65% from Rp827 billion profit in the corresponding period of 2017.
Improved Connectivity Outlook
President Joko ‘Jokowi’ Widodo has on Saturday (Dec 1st) inaugurated commercial operation of Section I of Bogor-Ciawi-Sukabumi (Bocimi) toll road, whose construction delayed for more than two decades. Ownership of the toll road changed several times until Jokowi ordered state companies to acquire the project months into office.
Update on the Masela Block
The Ministry of Energy and Minerals Resources (ESDM) has promised to the decide on the fate of the Masela Block’s Plan of Development (POD), which is being drafted by the INPEX Corporation, before the end of the year. Among the conditions is set for the POD is that INPEX must bring down the cost of investment to US$20-21 billion from US$25 billion. The problem is that there a few versions of this cost figure. Somehow the investment cost estimate has kept on changing.
More Investments in Manufacturing (2)
Some investors might wait clarification of the government’s policy—which harvests criticism from domestic business community—-to open up more business sectors to 100% ownership by foreign investments. Others, however, decided to proceed with expansion projects.
More Investments in Manufacturing (1)
The government’s decision in expanding tax holidays facility might attract more major investments in the coming years. With or without the facility, however, some investors are working on some interesting manufacturing projects in the country.
A New Head of SKK Migas?
We’ve been hearing talks in the Ministry of Energy and Mineral Resources (ESDM) of an upcoming appointment of a new head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas). The change of leadership is needed given that the term of service of the current Head of SKK Migas Amien Sunaryadi had actually expired on November 18, 2018. Word has it that Amien will not get his contract renewed. But who will replace him?
The Masela Block’s Plan of Development Ready Next Week
The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) has said that the INPEX Corporation was ready with the Plan of Development (POD) for the Masela Block in Maluku. The Masela Block’s Abadi Liquified Natural Gas (LNG) field is the largest LNG project in the eastern part of Indonesia.
Will Wuling Make a Difference? (3)
Wuling Motors Indonesia might not achieve its ambitious sales target this year. Its growth in the second year in the market long dominated by Japanese car brands, however, is still impressive. The company is also seen aggressive in expanding its distribution network all over the archipelago.