State miner Aneka Tambang (ANTM), member of PT Mineral Industri Indonesia (Persero) (MIND ID)–the State-owned Enterprise Holding of the Mining Industry–, announced that it has completed a series of transactions with Ningbo Contemporary Brunp Lygend Co Ltd (CBL), through its controlled subsidiary Hongkong CBL Limited (HKCBL), related to the integrated nickel minerals downstream development in Indonesia.

So, US has basically avoided a predicted recession in 2023, with some now see a soft landing in 2024 instead. The Indonesian government, meanwhile, is optimistic that Indonesia’s economic growth will reach 5% by the end of 2023, even though some challenges facing the world–starting from commodity prices which are still fluctuating and geopolitical tensions which have not yet decreased. 

Cable firm Voksel Electric (VOKS). announced that it had changed control to the Hong Kong company Hengtong Optic-Electric International Co. Ltd, with Chi Wei and Chi Genliang as the beneficiaries owners.

Gold producer Merdeka Copper Gold (MDKA), co-owned by Garibaldy ‘Boy’ Thohir, Saratoga, and Provident Group, disbursed a loan to its subsidiary Merdeka Battery Materials (MBMA) amounting to US$100 million, equivalent to Rp1.55 trillion, used for general corporate purposes–working capital, capital and operational expenditures, to support the business activities of MBMA’s subsidiaries.

Telco firm Indosat (ISAT) or Indosat Ooredoo Hutchison said that it had transferred data center assets worth Rp2.62 trillion to its affiliated company, PT Starone Mitra Telekomunikasi (SMT), a joint venture between the company and BDX Asia Data Center Holdings Pte Ltd. 

Shares of taxi operator BlueBird (BIRD) ended flat at Rp1,785 on Thursday (Dec 21) despite the launching of Rp250 billion investment in the new capital city Nusantara. At the last quoted price, BlueBird was worth Rp4.47 trillion, significantly below equity (Rp5.54 trillion).

Shares of data center management firm Indointernet (EDGE) lost 10.13% to Rp5,100 on Thursday (December 21), to make market capitalization of Rp10.3 trillion, after founder Otto Toto Sugiri divested all of its ownership (16.56%) in EDGE, at price of Rp3,496 per share or Rp1.16 trillion in total.

State-owned PT Indonesia Asahan Aluminum (Inalum) confirmed that its megaproject with fellow state miner Aneka Tambang (ANTM), Smelter Grade Alumina Refinery (SGAR) Mempawah, in West Kalimantan province has again been included in the national strategic project (PSN), eligible to earn some supporting policies from the government. 

The unbelievably pricy Petrindo Jaya Kreasi (CUAN), a mining company controlled by Prajogo Pangestu’s Family (Barito Pacific Group), expects to complete acquisition of mining contractor Petrosea (PTRO) and high-calorie coal mine PT Multi Tambangjaya Utama/MUTU (MTU Coal) in the first quarter of 2024.

A fast-food restaurant Carl’s Jr., under the management of MahaDasha Group, officially announced that the company will close all its outlets in Indonesia by the end of this year after 10 years of operation in the country.