Indonesia Digest: Tesla in talks to invest in battery plant; OMNI to buy Emtek’s hospital business

A Tesla logo hang on a building outside of a Tesla dealership in New York, U.S., April 29, 2016. REUTERS/Lucas Jackson

By Cindy Silviana

October 19, 2020

Tesla is reportedly considering investing in a battery plant in Indonesia, while OMNI Hospitals has acquired Emtek’s hospital business for Rp1.25 trillion ($85 million).

Tesla may invest in a battery plant

US-based Tesla is reportedly in discussions with the Indonesian government to invest in a battery plant in the country. The industry minister Agus Gumiwang Kartasasmita confirmed the news to CNBC Indonesia on Monday, saying the government is pitching a plant in the integrated industrial area at Batang, Central Java.

Tesla’s interest in the country surfaced last month when the coordinating minister for maritime affairs and investment, Luhut Binsar Pandjaitan, revealed that Tesla had evinced interest in a battery plant. “I would like to convey that many people are interested in investing in Indonesia. I received a call from Tesla. They are interested in building a lithium battery [factory] in Indonesia,” Pandjaitan said on September 9.

According to the minister, Tesla is interested as Indonesia is home to the world’s largest nickel reserves.

Indonesia is also focusing on building lithium battery plants to develop the electric vehicle ecosystem. In January 2020, the government banned the export of nickel ore.

OMNI Hospitals to acquire Emtek’s hospital business

Indonesia’s PT Sarana Mediatama Metropolitan Tbk (OMNI Hospitals) will acquire EMTEK’s hospital business, PT Elang Medika Corpora (EMC), according to a disclosure to the Indonesia stock exchange.

OMNI Hospitals will buy 1.25 million EMC shares, or 99.99 per cent of the company, through its internal cash. The total transaction value is estimated at Rp1.25 trillion ($85.37 million). OMNI Hospitals’ current assets are Rp1.82 trillion, which will increase to Rp3.72 trillion after the acquisition is complete.

The shareholders of OMNI Hospitals are PT OMNI Health Care, with a 71.88 per cent stake, PT Investindo Nusantara Sekuritas (7.31 per cent), PT Panin Sekuritas Tbk (6.11 per cent), and the rest is public shares (14.7 per cent).

OMNI Hospitals operates five hospitals in Indonesia, and EMC has a subsidiary that operates two hospitals in Greater Jakarta.

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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. 
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