Indonesia is increasingly recognized as a hotbed for world-class digital infrastructure investment. One of the clearest signals comes from EDGNEX — the data center arm of Dubai-based DAMAC Group — which has committed a massive IDR 37 trillion to build a hyperscale data center campus in Cikarang, West Java.

Shares of coal miner Bumi Resources (BUMI) ended lower by 4.7% to Rp121 Thursday (Jun 190 to make a market capitalisation of Rp44.9 trillion. Shares of Bumi Resource Minerals (BRMS), which is also controlled by Bakrie Group with focus in non-coal minerals, also lost 4.5% to Rp422, but with significantly higher market capitalisation of Rp59.8 trillion.

Shares of MNC Vision (IPTV), parent of cable TV providers MNS Sky Vision and K-Vision, ended higher by 3.57% to Rp29 on Thursday (Jun 19) as the company offered 4.2 billion new shares. The stock, however, is not even one-tenth of the initial public offering (IPO) price six years ago.

It has been a while since the last time we discussed the State EPC firm, PT Waskita Karya (Persero) Tbk (WSKT). Until today, the company is still struggling to resolve their legal issues. We know that on top of allegations of corruption, the company has to face multiple lawsuits aiming to force the company to restructure their debts. On top of that, recently, the President finally officially canceled the disbursement of State Capital Investment (PMN) which was provided in 2022. 

The government through sovereign wealth fund Danantara appointed more politicians as commissioners in state companies. The latest, three politicians from President Prabowo’s Gerindra Party are appointed commissioners of state fertiliser company PT Pupuk Indonesia Holding Co (PIHC).

PT Chandra Daya Investasi Tbk (CDIA), subsidiary of petrochemical company Chandra Asri (TPIA), is offering 12.48 billion shares at Rp170-190 per share to raise a maximum Rp2.37 trillion to finance expansion of infrastructure and logistic business. Why not just selling 1% shares of Chandra Asri for Rp8.73 trillion?

PepsiCo Indonesia inaugurated its factory in Cikarang, West Java with US$200 million of investment, focusing on producing three snack brands, namely Cheetos, Lay’s, and Doritos. After a three-year absence, PepsiCo returned with a substantial investment, whilst smaller than those committed in Vietnam.

Shares of Transcoal Pacific (TCPI) ended lower by 0.9% to Rp5,500 Wednesday (Jun 18) even when the company announced a contract worth US$183 million to transport 100 million tons of nickel ores from Sulawesi Island.

Taiwan’s recent decision to block chip exports to Chinese giants like Huawei and SMIC has jolted developing countries, including Indonesia. Ironically, this comes just as Indonesia finalizes its AI Roadmap, due to launch by the end of June 2025. But behind the excitement lurks a hard fact: without domestic control over hardware, especially semiconductors, the nation’s AI ambitions stand on shaky ground.