Renewable energy developer Asia Green Capital ropes in StanChart as financial advisor for fund raise

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Asia Green Capital Partners Pte Ltd, Singapore-based Asia-focussed renewable-energy developer and investment company, has appointed Standard Chartered Bank as its financial advisor for the company’s upcoming fund raising exercise, said Managing Director Edgare Kerkwijk said in a press statement. This exercise will cover the company’s funding requirement for development and construction… Read more »

Indonesia Dealbook : Apple to set up R&D centre; Telkomsel teams up with Verifone, Finnet for TCashTap

US-based technology firm, Apple Inc., plans to establish a research and development (R&D) center in Indonesia. While, the largest mobile network operator in the country, PT Telekomunikasi Selular (Telkomsel), has teamed up with Verifone Mobile Money and PT Finnet Indonesia to introduce TCash Tap to merchants across Indonesia. Apple likely to set up… Read more »


Indonesia bourse to investigate former UBS country head in insider trading case

The Indonesia Stock Exchange (IDX) has said it will investigate the insider trading case involving Vincent Rajiv Louis, a former Indonesia country head at UBS Group AG, to see if there are other parties involved in the transaction. “We certainly will be calling and asking him on the details of the transaction. We will… Read more »


China Railway Construction holds 40% in JV with Indonesia state firms for $5.5b high speed train project

Indonesia’s state own enterprises consortium PT Pilar Sinergi BUMN Indonesia and China Railway Construction Co. Ltd. (CRCC) have signed joint venture for a High Speed Railway (HST) in the Jakarta–Bandung route, in which the Chinese firm will hold 40% stake. The HST, with top speeds of 250-300 km per hour,… Read more »


Two Indonesia state-owned cement firms to invest $185m in new factory

Two state-owned cement producers, PT Semen Indonesia Tbk (SMGR) and PT Semen Kupang are planning to build a new cement factory in Kupang, East Nusa Tenggara with a total investment of Rp 2.5 trillion ($185.19 million). The new plant will have a capacity of 1.5 million tons annually. The head… Read more »


Indonesia Stock Exchange seeks five-fold growth; daily transaction to reach $1.88b by 2020

Indonesia Stock Exchange (IDX) says that the daily value transaction in the Jakarta bourse could reach Rp 25 trillion ($1.88 billion) by 2020. This is a five-fold growth compared to the current year’s volumes, said the chief executive on Thursday. Recently, value transaction in the capital market was recorded at… Read more »


Indonesia’s state-owned defence equipment maker Pindad to spend $365.65m on product expansion

Indonesian state owned military equipment producer PT Pindad is planning to spend around Rp 5 trillion ($367.65 million) to further develop its existing products as well as start new business lines in the next three years. The move has been undertaken in response to growing demand for its products from… Read more »


Indonesia Dealbook : Bank Rakyat & BBCA go for share buyback; Chandra Asri to refinance debt

Two of the country’s largest banks PT Bank Rakyat Indonesia Tbk (BBRI) and PT Bank Central Asia Tbk (BBCA) want to buy back the shares from the market, applying the Financial Service Agency rule. PT Chandra Asri Petrochemical Tbk (TPIA) has signed single currency term facility of $94.98 million with a bank consortium. Bank… Read more »


Indonesia wants more royalties from Freeport for longer contract

Freeport-McMoRan Inc should significantly increase the amount it pays in royalty payments to the Indonesian government if it wants to extend a contract to operate one of the world’s biggest copper mines, a cabinet minister said on Tuesday. The U.S. firm last week said it received assurances from Indonesian mining… Read more »


Norway’s wealth fund to review stake in Indonesian palm oil producer Astra International

Norway’s sovereign wealth fund should monitor its investment in Indonesia‘s Astra International to ensure its palm oil operations don’t break ethical guidelines, the Norwegian central bank said on Tuesday. The decision gives the company four years to meet the $856 billion fund’s ethical standards. If it fails, Norway could sell… Read more »