Danantara investment in Chandra Asri’s Chlor-Alkali Project
Shares of Chandra Asri (TPIA), the largest petrochemical company in the country, ended higher by 3.28% to Rp10,225 on Tuesday (Jun 17) on news about the signing of a memorandum of understanding (MoU) with sovereign wealth fund Danantara and Indonesian Investment Authority (INA) for cooperation in US$800 million chlor-alkali project.
Nearly S$1 billion from Wilmar
Attorney General’s Office (AGO) has on Tuesday (Jun 17) took the delivery of Rp11.88 trillion or nearly S$1 billion from Wilmar Group, less than two months after the arrest of Muhammad Syafei (MSY), head of legal of Wilmar Group, as suspect in the court mafia case related to bribing judges at the Central Jakarta District Court to acquit three companies from corruption charges, including Wilmar Group.
Growing list of layoffs
Nine years ago, Singapore’s investment firm GIC invested US$385.19 million in PT Trans Retail Indonesia, member of CT Corporation (Chairul Tanjung). That time, Trans Retail operated 95 outlets of TransMart (hypermarket). The investment was meant to expand outlets. TransMart indeed added more outlets, but then Covid-19 pandemic and changing lifestyle forced the company to close down more outlets.
Zahir ERP at a crossroads
Zahir, once proudly hailed as Indonesia’s local accounting software champion, now stands at a crossroads. Founded by Fadil Fuad Basymeleh in 1996, Zahir quickly earned its place in the market for its simplicity: easy to use, aligned with local tax regulations, and affordable. For many SMEs throughout the 2000s, Zahir was practically the default entry point for basic bookkeeping.
Indonesia-Singapore renewable energy deal & Xinyi’s project (2)
The signing of an MoU between Indonesia and Singapore on renewable energy export and carbon capture might accelerate the controversial US$11.5 billion integrated quartz-to-solar glass project of Xinyi in the Rempang Eco City, Riau Islands.
Indonesia-Singapore renewable energy deal & Xinyi’s project (1)
Indonesia and Singapore moved closer to implement cross-border renewable energy supply, wherein Indonesia would export 3,500 MW capacity to Singapore with the signing of MOU on Monday (Jun 16). Seven business groups, mostly politically connected, have been granted permits to implement the program.
Prabowo-Putin: Issues to watch
President Prabowo Subianto has reportedly opted to meet Russian president Vladimir Putin in Moscow this week, skipping attending G7 Summit in Canada. Other than meeting Putin, Prabowo is scheduled to attend St Petersburg International Economic Forum 2025 on June 20.
NU’s Business Ventures
Nahdlatul Ulama (NU), Indonesia’s largest Islamic mass organization, is stepping boldly into the economic sphere—a move that is reshaping its identity far beyond the traditional domains of religious and social work. Two prominent initiatives symbolize this shift: the launch of Nujek, a self-proclaimed sharia-compliant ride-hailing service, and its active interest in managing mining concessions.
Indonesia’s hardware weakness undermines its digital ambitions
In May 2024, the Ministry of Communication and Digital Affairs (Komdigi) officially launched the Indonesia Digital Test House (IDTH)—a national facility aimed at strengthening the country’s digital sovereignty through independent testing of ICT hardware.
High-Speed Wi‑Fi, Low-Speed Reality
The Ministry of Communication and Digital Affairs (Komdigi) has officially opened access to the 6 GHz frequency band, enabling the use of Wi‑Fi 6E and Wi‑Fi 7 in Indonesia. This move reflects the government’s serious intent to accelerate national digital transformation by upgrading high-speed connectivity infrastructure. However, is Indonesia’s digital ecosystem ready to embrace it?