Author: admingentala

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Luhut-Led Delegation Meets Elon Musk to Talk Investing in RI, EVs

Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan led an Indonesian delegation to a meeting with Tesla CEO Elon Musk in the United States to talk about potential investments in Indonesia’s electric vehicle (EV) industry. Leading business figures Anindya Bakrie and Pandu Sjahrir, who were part of the delegation, took to Instagram on Tuesday to post updates about the meeting at Tesla’s new factory in Austin, Texas. 

            “We aim to convince Tesla to explore partnerships with Indonesia in the procurement and development of nickel [as a] raw material for battery cells based on ESG,” Anindya wrote, referring to the environmental, social, and governance (ESG) standards of doing business.

            Musk said in July 2020 that Tesla would grant a “giant contract for a long period of time” to nickel miners that operated “efficiently and in an environmentally sensitive way” as part of the carmaker’s ESG commitment. The meeting aimed to woo Tesla to invest in Indonesia amid the government’s efforts to pursue President Joko Widodo’s goal of developing the downstream mining sector.

            Indonesia made global headlines in 2020 when it banned nickel ore exports in a bid to force miners to develop their downstream nickel businesses, particularly for manufacturing stainless steel and electric vehicle batteries (EVBs). The following year in March, the government launched the Indonesia Battery Corporation (IBC), a state-owned EVB company.

            The delegation also extended a formal invitation to Musk to join the Business 20 (B20) International Advocacy Caucus under Indonesia’s G20 presidency, added Anindnya, who also chairs the advisory board of the Indonesian Chamber of Commerce and Industry (Kadin).

Meanwhile, Pandu said in his Instagram post that the meeting discussed EVs, renewable energy, and the B20 policy, adding that Musk was “very excited” to talk about developing Indonesia’s nickel and EV industries. Pandu, who is Luhut’s nephew, wears several hats, including chairman of the Indonesian Coal Association (APBI) and a board member of on-demand and payment services super-app Gojek.

“Hopefully this meeting will bring in more [high-tech investment] and Indonesia can be an important part of the global electric vehicle industry,” he wrote in his post.

April 26, 2022, The Jakarta Post

(https://www.thejakartapost.com/business/2022/04/26/luhut-led-delegation-meets-musk-to-talk-investing-in-ri-evs.html)

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Peeking at Indonesian Pearl Export Opportunities, The Cunt Makes You Drool

As a maritime country, Indonesia has a myriad of marine and fisheries potentials. Not only fish for consumption, but also pearls as decoration as well as beautify themselves. The Director General of Strengthening the Competitiveness of Marine and Fishery Products (PDSPKP), Artati Widiarti, said that the Indonesian South Sea Pearl (ISSP) has a number of advantages. “One of them is a larger size between 9-17 mm with a color range from white, silver to gold, so it is very popular in foreign markets. Pearl cultivation centers are spread across the provinces of Bali, NTB, NTT, North Sulawesi, Southeast Sulawesi, Maluku, North Maluku and Papua,” said Artati Widiarti.

As an illustration, Indonesia’s pearl exports for the 2017-2021 period fluctuated, from US$ 51.4 million in 2017, decreasing to US$ 44.4 million in 2021 (Central Bureau of Statistics 2022, processed by the Directorate General of PDSPKP). ISSPs are generally traded in the form of loose and jewelry through auctions in both domestic and international markets, mainly in Japan, Hong Kong and Australia.

The Minister of Maritime Affairs and Fisheries, Sakti Wahyu Trenggono, reminded that marine health is the key to business in the marine and fisheries sector, which can run in the long term. According to him, the sea will continue to produce optimally if the environment is also in a healthy condition, and in the end it will bring the greatest social and economic benefits to everyone who depends on it.

April 15, 2022, detikFinance

(https://finance.detik.com/berita-ekonomi-bisnis/d-6034291/mengintip-peluang-ekspor-mutiara-ri-cuannya-bikin-ngiler)

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Official! The Lagoi Area has been Chosen as the Location for the Bintan F1 Circuit

The Lagoi area has been chosen as the location for the construction of the Bintan International Circuit. The development, which is planned to become a Formula 1 racing area and other international races, is known to require an investment of more than Rp1 trillion, which purely comes from a private consortium without APBN/APBD. The location selection was carried out by the Chairman of the MPR RI as well as the General Chair of the Indonesian Motor Association (IMI) Bambang Soesatyo along with the Governor of the Riau Islands Ansar Ahmad and the Executive Director of Gallant Venture Pte LTD Frans Gunara as managers of the Bintan area.

Bamsoet said the presence of the Bintan International Circuit would make Indonesia equal with other major countries in the world in organizing the world’s prestigious motorsport championships. Moreover, Formula 1 has been recorded to have been held in 21 countries spread across 5 continents. He added that the Bintan International Circuit, which will utilize an area of about 237 hectares, according to him, would complement the Pertamina Mandalika International Circuit, which has hosted MotoGP.

Furthermore, Bamsoet revealed the progress of the development in addition to determining the location. He said that Populous as an international consultant from England who handled the landscape design of the circuit area had finalized the Detail Engineering Design (DED), including the design of the circuit track.

“It is planned that in the circuit there will be 17 corners for Two-Wheel Motorcycles, and 18 corners for Formula 1. The consortium team is currently finalizing a business development plan in the Bintan International Circuit area. It is targeted that by May 2022 all business plans have been completed, so that President Joko Widodo will be able to groundbreaking the construction of the Bintan International Circuit,” said Bamsoet in his statement, Thursday (14/4/2022).

The presence of the Bintan International Circuit as a Formula 1 Circuit in Indonesia will later bring many advantages. In addition to increasing the passion for car racing in improving athlete achievement, it can also absorb jobs as well as become a driving force for the Riau Islands and national economy. In addition to getting economic benefits, Indonesia can also benefit from the country branding side.

April 14, 2022, detikOto

(https://oto.detik.com/otosport/d-6033698/resmi-kawasan-lagoi-terpilih-jadi-lokasi-sirkuit-f1-bintan)

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PT Pindad Ready to Produce Advanced Bombs for French Fighter Jets

State-owned weapons manufacturer PT Pindad will produce sophisticated bombs for the Rafale fighter aircraft. Pindad plans to cooperate with the French company Safran Electronics and Defense. The cooperation was carried out for the production of the MK-82 bomb which supports the Highly Agile Modular Munition Extended Range (HAMMER) Smart Bomb. This sophisticated bomb will later be used in Rafale fighter aircraft. Pindad plays a role in producing the bodies and contents of explosives for bombs.

“PT Pindad has the ability to develop products and also produce the MK-82 used in the Rafale, which is one of the factors that we collaborate with Safran, a manufacturer that has a high reputation in the defense sector with its smart guided bomb,” said the Director of Technology and Development of Pindad, Sigit Santosa in his statement, Thursday (14/4/2022).

Indonesia and France have established strong defense cooperation. On February 10, 2022, Indonesia officially purchased 42 units of French Rafale fighter aircraft. The signing of the acquisition contract for 42 new generation Rafale aircraft was carried out in the presence of the French Minister of the Armed Forces Florence Parly and the Minister of Defense of the Republic of Indonesia Prabowo Subianto.

April 14, 2022, detikFinance

(https://finance.detik.com/industri/d-6033604/top-banget-pindad-siap-produksi-bom-canggih-buat-jet-tempur-prancis)

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Indonesia Stock Exchange: GoTo Becomes the First Decacorn Listed on the Asian Exchange

PT GoTo Gojek Tokopedia Tbk is listed on the Indonesia Stock Exchange (IDX) today. GoTo became the first decacorn to be listed on the Asian exchange. IDX Director of Corporate Valuation, I Gede Nyoman Yetna said GoTo was also the 15th company listed on the IDX this year, and the 781st overall.

“GoTo will become the 15th listed company in 2022 and 781 on the stock exchange at this time. The listing of GoTo shares is highly anticipated, becoming an important milestone for both the company and the capital market industry. Indonesia’s largest digital market and able to raise IDR 13.7 trillion and market capitalization IDR 400 trillion. This makes GoTo a technology company with a decacorn valuation level and is the first decacorn to be successfully listed on Asian exchanges.” said Nyoman at a press conference, Monday (11/4/2022).

IDX hopes that GoTo can maintain transparency and accountability after becoming a public company. “The exchange hopes that GoTo will soon realize its strategy, always innovate and maintain transparency and accountability to the public,” he said.

April 11, 2022, detikFinance

(https://finance.detik.com/bursa-dan-valas/d-6026532/bei-goto-jadi-decacorn-pertama-tercatat-di-bursa-asia)

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The Jakarta-Bandung High-Speed Train has been Produced in China, This is the Sophistication

The entire series of Electric Multiple Units (EMU) or trains for the Jakarta-Bandung High Speed Rail (KCJB) project, totaling 11 units, have been completed in production at CRRC Sifang, Qingdao, Shandong Province, China in early April. Not only EMU, previously one unit of the Comprehensive Inspection Train (CIT) or inspection train has also been completed. The completion of the production process for the CR400AF type EMU series adds to the achievement of the KCJB (Kereta Cepat Jakarta-Bandung) throughout 2022.

The EMU and CIT series are targeted to arrive in Indonesia in the second semester of 2022. EMU is a series of high-speed trains with advanced specifications and is able to monitor hazards such as earthquakes, floods, to foreign object attacks, and is fire resistant.

The security system installed in the KCJB EMU series will be supported by various security instruments such as the Dispatching Monitoring Center, threat detection sensors along the KCJB route, and the Disaster Monitoring Terminal in Tegalluar as the center for disaster data management. In addition, there are also direct observation instruments in the field with CCTV connected to the KCJB command center to send visual information.

            KCJB’s operations are supported by CTSC 3/GSM-R network technology and fiber optics that have been proven globally in terms of rail safety, especially high-speed trains. Then, there are also Internal and External Lighting Protection Systems in KCJB construction.

“The KCJB security system is not only installed in the EMU circuit. Starting from Tegalluar, and along the KCJB route, we have prepared various high-level security systems so that KCJB can run well and optimally,” said the President Director of PT Kereta Cepat Indonesia China (KCIC) Dwiyana Slamet Riyadi.

April 8, 2022, detikFinance

(https://finance.detik.com/infrastruktur/d-6023019/kereta-cepat-jakarta-bandung-selesai-diproduksi-di-china-ini-kecanggihannya)

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The Rare Indonesian Rhino That Gave Birth is Highlighted by Foreign Media

The rare Sumatran rhino is in the spotlight of foreign media. Most recently, the species gave birth in Way Kambas National Park. One of the highlights was CNN. He said, Wednesday (30/3/2022), that moment was an ‘important opportunity for the survival of the Sumatran rhino species. The extremely rare Sumatran rhino has been born in captivity in a nature reserve in Indonesia, according to the government. It’s a celebration of conservation efforts to save endangered animals from extinction. The female rhino was born in the Sumatran Rhino Sanctuary in Way Kambas National Park in Lampung province on March 24, according to Indonesia’s Ministry of the Environment.

“The birth of the Sumatran rhino is good news amid the efforts of the Indonesian government and partners to increase the Sumatran rhino population,” said the Director-General of Environmental Conservation at the Ministry of Environment, Wiratno.

The Sumatran rhinoceros, the world’s smallest rhino species, once bred throughout Southeast Asia but is now found only in small pockets on the northern islands of Sumatra and Borneo in Indonesia. Fewer than 80 Sumatran rhinos remain, according to the International Rhino Foundation (IRF).

The captive program at the Sumatran Rhino Sanctuary, assisted by IRF, is the only place where the Sumatran rhino breeds naturally with the support of technology and collaboration of expertise. The program aims to maintain the survival of the Sumatran rhino by increasing the number of rhinos. So that one day this rhino can be released back into the wild. Without intervention, the IRF says the Sumatran rhino will be extinct in a matter of decades. International rhino experts and the Indonesian government have decided relocating rhinos to a captive breeding program is the only way to save the species.

March 30, 2022, detikTravel

(https://travel.detik.com/travel-news/d-6008566/badak-indonesia-langka-yang-melahirkan-disoroti-media-asing)

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Luhut Says Xi Jinping Will Inaugurate Jakarta-Bandung High-Speed Train

Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan said the Jakarta-Bandung High-Speed Train (KCJB) project would later be inaugurated by President Jokowi and Chinese President Xi Jinping.

            “We want it because later, hopefully, President Xi Jinping and President Jokowi will also be in Bali. We will also try to inaugurate some of our big projects with China using Zoom,” said Luhut during a visit to tunnel 6 area in Purwakarta, West Bandung Regency, Wednesday (30/3/2022).

            For now, Luhut said the KCJB Project is targeted for trials this year, November to be exact. Previously, the KCJB construction project in tunnel 6 had experienced delays. The project was delayed due to landslides, due to the geographical location which had to pass through clay shale conditions. Thus, it makes the development process take more time.

“Due to yesterday’s landslide problem, we have been delayed for about 5-6 months. We will try to get rid of it immediately, if possible, 10 months from now, it will be a trial,” said Luhut.

March 30, 2022, detikFinance

(https://finance.detik.com/infrastruktur/d-6008339/luhut-sebut-xi-jinping-bakal-resmikan-kereta-cepat-jakarta-bandung)

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Wow! Fintech Investment in Indonesia Reaches Rp12 Trillion

Investment in the national financial technology (fintech) industry during 2021 will reach US$ 904 million or equivalent to Rp12.94 trillion (exchange rate of Rp14,316). This value is equivalent to 23% of the accumulated investment in the fintech industry in Southeast Asia.

Chairman of the Supervisory Board of the Indonesian Fintech Association (Aftech) Rudiantara said the fintech industry in Indonesia has grown quite rapidly. It is also what makes it successful in attracting the interest of many investors.

“Accumulatively, the amount of investment in the fintech industry in Indonesia reached US$ 904 million or 23% of the total accumulated investment in the fintech industry in Southeast Asia in 2021,” said Rudiantara in a written statement, Tuesday (29/3/2022).

            In addition to showing the significance of the fintech industry in the investment world, statistical data shows the increasingly significant role of fintech as a source of economic growth for Indonesia. He also hopes that the 23% portion can continue to be increased considering that Indonesia represents 40% of the population in Southeast Asia. The increase is also expected to develop both from the aspect of the number of companies to the resulting impact.

            Rudiantara said that there were several records on the development of fintech throughout 2021. These records include the value of electronic money transactions which increased by almost 60% year on year (YoY) to Rp 35 trillion at the end of 2021. The adoption of QRIS has also exceeded the target of 12 million merchants before the end of the year. 2021, as a joint effort to support MSMEs.

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Indonesia stands firm on the G20 economic agenda

Group of 20 (G20) chair Indonesia will adhere to the economic theme of G20 meetings this year, even though a growing rift between members over the Ukraine crisis threatens to derail talks at the international forum. G20 sherpa track chair and Coordinating Economic Affairs Minister Airlangga Hartarto said Indonesia would uphold the group’s traditional role as an economic forum. The government will not realign the agenda to accommodate geopolitical issues, “which are clearly political and security issues”.

“There are many forums for geopolitical and security issues, such as the United Nations general meeting and UN Security Council. These are the channels to resolve geopolitical issues in Ukraine,” Airlangga told The Jakarta Post on Tuesday.

As the leader of the G20 forum this year, Indonesia has been adamant not to accommodate pressures to address the political impact of Russia’s invasion of Ukraine. The international forum, which includes Russia, has been on track despite the US and its western allies questioning whether Russia should remain within the G20 following the invasion.

March 25, 2022, The Jakarta Post

(https://www.thejakartapost.com/business/2022/03/24/indonesia-balks-at-pressures-to-add-ukraine-war-to-g20-agenda.html)