Tag: Indonesia and China business

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Sharp Builds AC Factory in Karawang Rp582 Billion

PT Sharp Electronics Indonesia is currently building an AC factory located in Karawang, West Java. The construction of this factory is said to have an investment value of Rp 582 billion. SEID National Sales Senior Manager Andry Adi Utomo said the investment value of Rp 582 billion was greater than the investment value when building a washing machine factory which was inaugurated in 2019. To inaugurate the construction of the 3.5-hectare factory, Sharp conducted a groundbreaking or groundbreaking today. It is targeted that construction will be completed in April 2023, Sharp’s AC factory can start production on a regular basis.

            “How many units are the target, maybe 1.2 million units per year, we want to produce. So like this, we have refrigerators, we produce 100 thousand per month, washing machines are also 100 thousand per month, TV is also 100 thousand per month. So the four pillars of Sharp all want 100 thousand units per month,” said Andry. Later the production from Sharp’s AC factory will be sold to the domestic and export markets with a percentage of 70:30. For export markets, namely to the Middle East, Southeast Asia, and Oceania.

            The construction of this AC factory is also expected to increase Sharp’s AC market share in Indonesia, which currently stands at 24% to 30%. Its existence is also a breath of fresh air for the local community because of the increase in employment opportunities. Because this factory can absorb about 800 new workers. This factory will also produce 3 types of AC, namely AC Basic, AC Inverter, and AC Basic with Plasmacluster. Sharp did not rule out the possibility of producing other products such as fans and air purifiers.

            Through the construction of this new factory, Sharp hopes to continue to contribute to community development and local potential to improve the domestic economy. The construction of this factory was also appreciated by the Minister of Industry, Agus Gumiwang Kartasasmita. He thanked Sharp for investing in Indonesia.

Feb 24, 2022, DetikFinance

(https://finance.detik.com/industri/d-5957413/sharp-bangun-pabrik-ac-di-karawang-rp-582-miliar)

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BUMN Gas Subholding Collaborates with South Korea to Reduce Carbon Emissions

PT PGN Tbk as Pertamina Gas Subholding establishes a synergy with an energy company from South Korea, namely SK E&S Co., Ltd (SK). This collaboration was also initiated in order to increase the growth of the natural gas business as well as efforts to reduce carbon emissions. This collaboration was inaugurated at the signing of the MOU by PGN’s Director of Strategy and Business Development, Heru Setiawan, and Vice President of SK E&S Co., Ltd, Ho Sik Lee on Tuesday (22/2/2022). SK is a company that focuses on electricity, LNG, renewable energy, communal energy, city gas, various overseas energy businesses, and business development in hydrogen and CCS.

The CEO of Sub-holding Gas PT PGN Tbk M Haryo Yunianto explained that PGN and SK will conduct a joint study regarding the potential for cooperation in the development of hydrogen and CCS in Indonesia. In addition, PGN & SK will jointly look for opportunities to develop the gas business in Indonesia and Korea, including conducting LNG trading.

CCS or carbon capture and storage includes activities in reducing greenhouse gas emissions which include the separation and capture of carbon emissions or CO2 gas. Then the transportation of carbon emissions will be captured to the storage area or storage to the injection target zone safely and permanently, in accordance with engineering rules.

Haryo hopes that this collaboration will not only provide benefits for PGN and SK. But also supports the government regarding the use of Carbon Capture and Storage/Carbon Capture, Utilization and Storage (CCS/CCUS) technology in the oil and gas industry, so that it can have a positive impact on the Indonesian economy.

Feb 24, 2022, DetikFinance(https://finance.detik.com/energi/d-5957589/subholding-gas-bumn-gandeng-korsel-tekan-emisi-karbon)

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2021 Data: Total Indonesia Population 273 Million People, More Men than Women

            The Directorate General of Dukcapil, Ministry of Home Affairs (Kemendagri) updated the population data for the second semester of 2021. The total population of Indonesia as of December 30, 2021, was 273,879,750 people. “There is an increase of 2,529,861 people compared to 2020,” said the Director-General of Dukcapil, Zudan Arif Fakrulloh, in a written statement, Wednesday (23/2/2022). Zudan said that of the total 273 million people, 138,303,472 people were men (50.5%). While the other 135,576,278 people are women (49.5%).

            The area with the largest population at the provincial level is West Java (Jabar) with a population of 48,220,094 people. Meanwhile, North Kalimantan Province is the province with the least population of 698,003 people. At the district/city level, Bogor Regency is the area with the largest population of 5,327,131 people.

Feb 24, 2022, DetikNews

(https://news.detik.com/berita/d-5957686/data-2021-total-penduduk-indonesia-273-juta-jiwa-laki-laki-lebih-banyak)

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How’s the IDX Movement in the Middle of the Russia-Ukraine War?

The Indonesia Stock Exchange (IDX) composite this week tends to be slightly corrected, amid the escalating conflict between Russia and Ukraine until this weekend. Throughout this week, the Indonesia’s benchmark stock market index fell slightly by 0.05% point-to-point. On Friday’s trade yesterday (25/2/2022), the Indonesia Stock Exchange (IDX) composite closed up 1.03% to 6,888.17.

Feb 26, 2022, CNBC Indonesia

(https://www.cnbcindonesia.com/market/20220226160216-20-318673/apa-kabar-pergerakan-ihsg-di-tengah-konflik-rusia-ukraina)

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Russia and Ukraine War, IDX Composite Direct Dropped 2,3%!

            IDX composite fell as a result of the Russian invasion of Ukraine. IDX continues to be in the red zone since this morning. The IDX composite this morning was observed to have weakened since pre-trade. In pre-trading, the JCI fell 7 points (0.11%) to 6,912. While the LQ45 index also fell 3 points to the level of 981. Then at 9:05, the IDX  was still declining today. JCI fell 22 points or 0.33% to a level of 6,817. Meanwhile, the LQ45 index was also at the level of 981 or down 4 points (0.41%). At the close of the first trading session, the JCI stopped at the level of 6,807 down to 112 points or 1.63%. The LQ45 index also fell 1.54% or fell 15 points to 969. When trading reopened, the JCI continued to fall. JCI even fell by 159 points or 2.31% to the level of 6,760. The LQ45 index fell 22 points, or 2.23%, to 963.

            However, based on Artha Sekuritas’ research, the IDX has the potential to penetrate the all-time high. Globally, there are still concerns about the tensions of Russia’s invasion of Ukraine. Meanwhile, there is a daily increase in Covid-19 cases within the country, although they are being neglected.

Feb 24, 2022, DetikFinance (https://finance.detik.com/bursa-dan-valas/d-5956842/rusia-serang-ukraina-ihsg-langsung-anjlok-23)

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Aquaculture Start-ups Make Waves in Indonesian Fisheries

A millennial-driven wave of digitalization has been sweeping across Indonesia’s aquaculture industry. In Yogyakarta, which is a major producer of tilapia and catfish, PT Banoo Inovasi Indonesia is helping fish farmers raise the output of the two freshwater species. Banoo produces an aquaculture system called MycroFish that uses aerators and sensors to ensure fish ponds maintain optimal levels of oxygen, acidity, and temperature. The company claims the system increases pond productivity by up to 42 percent. Banoo chief marketing officer Lakshita Aliva Zein said the company hoped to sell 100 devices this year. A total of 62,208 freshwater fish farmers were operating in the province in 2020.

“We hope we can get more fish farmers to benefit from our products moving forward,” said the fisheries science graduate from Gadjah Mada University on Feb. 10.

Tilapia and catfish are the country’s most widely produced aquaculture products after seaweed, according to 2017 statistics. The species made up 8.2 percent and 7.2 percent, respectively, of the 15.52 million tons of national aquaculture production in 2017, Statistics Indonesia (BPS) data show.

There are over 700 start-ups in the country’s aquaculture industry, according to aquaculture start-up group Digifish Network, which has 30 members itself. These start-ups are competing to tap into a market that the Marine Affairs and Fisheries Ministry expects will be worth US$17.47 billion by 2024. Industry incumbents include eFishery, which bagged $90 million in its series C funding round on Jan. 10, and Aruna, which took in $30 million in its series A round on Jan 26.

Aquaculture has been gaining traction around the world. Its contribution to the total production and capture of aquatic animals has risen steadily from 25.7 percent in 2000 to 46 percent in 2018, FAO data shows.

Feb 21, 2022, The Jakarta Post

(https://www.thejakartapost.com/business/2022/02/20/aquaculture-start-ups-make-waves-in-indonesian-fisheries.html)

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Indonesia and South Korea Central Banks Ink Partnership Deal

Bank Indonesia (BI) and Bank of Korea signed on Wednesday a memorandum of understanding (MoU) to work closer together on monetary-related issues. The MoU covers policy dialogue, technical discussions, capacity building, joint research, and other relevant forms of cooperation in the area of monetary and macroprudential policy, financial system stability, and payment and settlement systems, among other things. The latter issue includes jointly developing cross-border and digital payment infrastructure.

“Going forward, the cooperation also provides a strong framework for partnership in responding to the future challenges and in embarking on various innovations,” BI communication head Erwin Haryono in a statement.

The announcement of the MoU came just a day before the Group of 20 (G20) Finance Ministers and Central Bank Governors Meeting. The MoU adds to the central bank’s long list of cooperation with other central banks and is the second to be signed during Indonesia’s G20 presidency that started on Nov. 1 last year.

“The MoU is expected to serve as an opportunity to substantially strengthen future cooperation with Indonesia, the largest economy in the ASEAN region and one with high growth potential,” said the Bank of Korea in a statement.

On Nov. 8 last year, BI signed a similar MoU with the Central Bank of the United Arab Emirates (CBUAE) to cooperate in developing cross-border payment systems, securing transactions, addressing money laundering, and combatting terrorism financing. In the statement, BI pledged to continue expanding partnerships with many other international partners.

“Such cooperation is an integral part of BI’s contribution to the national economy while also serving as an important development in line with the spirit of the 2022 Indonesia G20 Presidency,” Erwin said.

Feb 17, 2022, The Jakarta Post

(https://www.thejakartapost.com/business/2022/02/17/indonesia-s-korea-central-banks-ink-partnership-deal.html)