Indonesia’s Sulawesi Mining invests $1.04b for second phase of smelter plant


Indonesia PT Sulawesi Mining Investment (PT SMI) said it will invest approximately $1.04 billion to develop the second stage of the Nickel Pig Iron plant with capacity of 600,000 tons per annum as well as 300 megawatt (MW) of power plant to support the smelting plant. The company has just completed the first phase of the… Read more »

Coca-Cola Indonesia to invest $63m in new plant

PT Coca-Cola Amatil Indonesia, a subsidiary of Sydney-based soft drink producer Coca-Cola Amatil Ltd, is building a new beverage plant with total investment of $63 million at Pandaan Plant, East Java. . The new production line at the Pandaan Plant and Distribution Center, built on the six hectares of land, currently supplies… Read more »

Indonesia’s Financial Services Authority relaxes buyback rules as JCI falls

Indonesia’s Financial Services Authority (OJK) has relaxed the buyback rules for public listed companies, helping the market rebound to recover, after it had  entered bearish territory last week. The Jakarta composite index (JCI) had dropped 1.9 per cent to 4,356.902 on Friday (August 21)to its lowest close since Jan. 28, 2014…. Read more »

Indonesia’s Len Industri, Singapore’s Sunseap set up JV to produce solar power modules

Indonesian State-owned electronics company PT Len Industri and Sunseap Enterprises Pte Ltd of Singapore have signed an agreement to establish a joint venture company, called PT Len Sunseap Energy. The joint venture company will produce solar power plant modules with a capacity of 50 megawatts peak (MWp) in Batamindo Industrial… Read more »

Indonesia’s MNC Group, Donald J Trump in JV to develop luxury hotel in Bali

Indonesia’s MNC Group has signed a partnership agreement with US Trump Hotel Collection to develop a luxury 6-star hotel at Tanah Lot, Bali. The agreement was signed by MNC’s CEO Hary Tanoesoedibjo and Trump Hotel chain owner Donald J Trump in York recently. Hary Tanoesoedibjo said the cooperation with Trump… Read more »

Indonesia’s Bank Sahabat, Afla Group join hands to tap unbanked population

Indonesia based middle-sized lender PT Bank Sahabat Sampoerna has inked a deal with Alfa Group, one of the largest convenient store retailers in Indonesia, to launch a new concept of office-less financial service. The service will be offered to consumers who do not have bank accounts (unbanked population). Ringo Nugraha Winat, the head… Read more »

Fuganto Widjaja to lead Indonesia’s Berau after ARMS takeover

Shareholders of PT Berau Coal Energy Tbk (BRAU), the fifth largest coal producer in Indonesia, have approved the appointment of new board management of the company following the completion of the acquisition of London miner Asia Resources Minerals Ltd (ARMS) by Asia Coal Energy Ventures (ACE) on July 15. ARMS indirectly… Read more »

Singapore’s GSS Energy raises stake in Indonesia Cepu Sakti Energy

Singapore-listed GSS Energy announced that the company has acquired 46.32 per cent shares of PT Cepu Sakti Energy (CSE) from its joint venture partner Java Petral Energy Pte Ltd (JPEL).  The purchase raised GSS Energy’s stakes in CSE to 95 per cent. The remaining 5 per cent of Cepu Sakti Energy’s… Read more »

Indonesia based HR startup Talenta gets funding from Fenox, East Ventures

Silicon Valley-based Fenox Venture Capital and East Venture Capital have injected undisclosed fund into Talenta, an Indonesia human resource management platform. Talenta, a cloud-based software as a service (SaaS) firm,  that services small and medium businesses manage their HR processes – plans to use the funding to add human resources, especially in sales… Read more »

Indonesia’s Kimia Farma to invest $71m in new pharmaceutical plant

Indonesian state-owned pharmaceutical company PT Kimia Farma Tbk (KAEF) is planning to invest Rp978 billion ($70.87 million) in a new pharmaceutical manufacturing facility at Banjaran Industrial Estate, Bandung, West Java.  The new plant will cater to the growing domestic demand for herbal medicines. The construction for the new plant is expected to… Read more »