Quiet layoffs (2)
Last year was one of the best years for palm oil producers. Astra Agro Lestari (AALI), member of Astra International (ASII), for example, booked net profit of Rp1.47 trillion, an increase of 28% from 2024. Yet, this company reduced its workforce significantly.
Nickel production cut: Not applied to Hengjaya
Pretty much as predicted, Indonesia’s nickel production cut is not applicable across the board. PT Weda Bay Nickel (WBN), a company co-owned by Tsingshan (China), Eramet (France), and Antam (Indonesia), and other nickel miners have received less than 30% of their requested quotas, but clearly not applied to Hengjaya Mine, subsidiary of ASX-listed Nickel Industries Ltd (NIC).
A rare opposition
Prabowo administration’s decision to import 105,000 trucks from India through state company PT Agrinas has finally gained more oppositions, which is rare these days. Analysts, automotive industry association, lawmakers, and even ministry of industry have expressed their criticism to the decision.
Great Deal or Faustian Bargain? (2)
The United States of America and the Republic of Indonesia have on Thursday (Feb 19) signed an agreement on reciprocal trade. Reciprocal might not be the right term because most of the articles in the agreement started with these words…”Indonesia shall” and “Indonesia shall not”.
Why the Rush to Assure ExxonMobil?
Indonesia’s energy diplomacy with the United States is entering a delicate phase. After granting long-term operational certainty to Freeport Indonesia—controlled by Freeport-McMoRan—Jakarta is now signaling openness to extending ExxonMobil’s role in the Blok Cepu.
Quiet layoffs
Acquisition of Mandala Multifinance (MFIN) by Adira Dinamika (ADMF), a consumer financing company controlled by Bank Danamon (BDMN), forced 2,447 people out of work last year.
Ormat gains more grounds
A geothermal specialist company from the United States, Ormat Technologies through its subsidiary PT Ormat Geothermal Indonesia has been awarded the Telaga Ranu Geothermal Working Area (WKP) in West Halmahera Regency, North Maluku, following a competitive tender process.
Great Deal or Faustian Bargain?
The White House posted on its website Thursday (Feb 19) a briefing and statement titled ‘Implementation of the agreement toward a new Golden Age for the U.S. – Indonesian alliance following a meeting between President Prabowo and Trump in Washington DC.
Rally in Spindo
Shares of PT Steel Pipe Indonesia/Spindo Tbk (ISSP) advanced 4.42% Thursday (Feb 19) to follow 7.33% gain earlier on Wednesday as investors responded positively the company’s stable financial performance last year.
Freeport in Grasberg: For Life?
President Prabowo Subianto regularly talked about protecting Indonesian natural resources and preventing ‘leakages’. Yet, when it comes to Grasberg, the world’s largest gold and copper mine, his government has just signed a memorandum of understanding regarding aa life of resource extension of operating rights for PT Freeport Indonesia.