Indonesia Dealbook: $227m energy projects take off; Japan’s Mitsui buys 22.5% in New Forests

Indonesia’s Energy and Mineral Resources Ministry has awarded and signed 24 project contracts worth Rp3.04 trillion ($226.87 million). Meanwhile, Mitsui & Co., Ltd. of Japan announced that is acquiring 22.5% stake in Sydney-based New Forests Pty Limited.

Indonesia awards 24 projects worth $227m

Indonesia has awarded projects worth $227 million to state owned construction companies such as Wijaya Karya, Adhi Karya, Hutama Karya, Nindya Karya, Rekayasa IndustriIndustri Telekomunikasi Indonesia and Len Industri.

The 24 projects were in sectors like gas pipeline network, solar power in eastern Indonesian region, community bio-gas project, micro hydro power plant and others.

“I have told the Energy Minister to increase the project realization to over 90 per cent. As projects are signed earlier, then the execution must be done fast as well, but still maintaining the project quality,” said Indonesia president Joko Widodo, who witnessed the signing ceremony.

Mitsui buying 22.5% in New Forests

Mitsui & Co., Ltd. of Japan has announced that it is acquiring 22.5% stake in Sydney-based New Forests Pty Limited.

In a press statement, Mitsui said, it was positioning this investment at the centre of its business portfolio. Through this investment, Mitsui will contribute to sustainable development while providing a stable supply of wood resources through New Forests’ business.

New Forests is an investment manager specializing in sustainable forestry and land management in Australia, New Zealand, Asia, and the United States. Founded in 2005, New Forests has assets under management of AUS$2.8 billion including more than 600,000 hectares of timber plantations, rural land, and conservation investments globally.

New Forests is one of the ten largest forestry investment managers in the world and the largest focused on the growing timber markets and plantation sectors of the Asia-Pacific region.

Over the past 30 years, institutional forestry investment, including funds, direct investments, and timber REITs, has grown to more than AUS$100 billion.

 

Also Read : 

Indonesia may get $1.3b investment in renewable energy projects

New Forests buys 35% in Indonesia rubber plantation

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.