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.
ESDM Favoring PKP2B Extension?
The Ministry of Energy and Mineral Resources (ESDM) seems to be favoring the holders of the first generation Coal Contract of Work (PKP2B) with the fourth revision of the Government Regulation (PP) No. 23/2010 on Minerals and Coal Mining, i.e., PP 1/2017. The revised PP makes it possible for holders of PKP2B to extend their contract five years before expiry. This may keep state-owned PT Bukit Asam’s ambition at bay.
ANTM’s Downstream Development
PT Aneka Tambang (ANTM), a subsidiary of PT Indonesia Asahan Alumina (INALUM), has a few big projects on the pipeline, which, if realized, would help ANTM’s performance. As at the third quarter of 2018, ANTM’s ferronickel production only grew 21 percent or 19,264 tons of TNi. ANTM’s Aprilandi H. Setia said (Nov. 15) that this is ANTM’s optimal production from its facility in Pomalaa, Southeast Sulawesi. Aprilandi said that ANTM continues to work towards developing its downstream side, but as we all know, plans are plenty but finalization has been rather slow.