Tag: Investment consulting

President Joko Widodo meets with Philippine President Ferdinand Bongbong Marcos Jr. In this meeting, the two countries agreed to extend and strengthen cooperation that has existed for 75 years. This was marked by the signing of a memorandum of understanding (MoU) by the two countries. The bilateral agreement offers potential benefits in the environmental, geopolitical, technological, economic and energy fields.

In the economic sector, President Jokowi said the two countries agreed to open trade and market access. In particular, Jokowi asked for Marcos’ support regarding securing trade in coffee products from Indonesia.

“In the economic sector to increase trade, we agreed to continue opening market access and Indonesia asked for support from the Philippines regarding special safeguard measures for Indonesian coffee products,” said Jokowi in a press statement broadcast on the RTV Malacanang Youtube account, Wednesday (10/1/2024).

Furthermore, Jokowi also expressed his appreciation for the Philippines’ trust in Indonesian BUMN in building important infrastructure in the Philippines. Apart from that, Jokowi also emphasized the importance of strengthening and uniting the centrality of ASEAN which continues to adhere to the principles of international law.

“I also appreciate the Philippines’ trust in Indonesian BUMN in building important infrastructure in the Philippines and it is important to speed up the groundbreaking of the Commuter Railway Project,” he explained.

Jokowi asked the Philippines to immediately start construction of the North-South Commuter Railway Project. There are two Indonesian BUMNs participating in the project.

“The President also expressed his appreciation for the Philippines’ trust in Indonesian BUMN to contribute to the development of important infrastructure in the Philippines and encourage the acceleration of the groundbreaking of the North-South Commuter Railway Project,” said Minister of Foreign Affairs Retno Marsudi in a statement on the official website, Wednesday (10/1/2024 ).

Please note that there are two project contracts won by a joint venture between two Indonesian state-owned companies, namely PT Adhi Karya – PT PP Joint Venture. The announcement of the winner of the first project worth 11.672 billion Pesos or IDR 3.2 trillion was issued on February 17, 2023. Meanwhile, the announcement of the winner of the second project worth 20.92 billion Pesos or around IDR 5.7 trillion was issued on June 26, 2023, so that the total value is almost IDR 9 Trillion.

It is hoped that this cooperation can also contribute to economic growth, job creation and investment attraction, as well as increasing collaborative efforts between the two countries.

January 10, 2024, detikFinance

(https://finance.detik.com/berita-ekonomi-bisnis/d-7133895/jokowi-temui-bongbong-marcos-sepakat-amankan-perdagangan-kopi-ri)

(https://finance.detik.com/infrastruktur/d-7134601/temui-presiden-filipina-jokowi-minta-proyek-kereta-bumn-segera-groundbreaking)

Currently PT Pertamina International Shipping (PIS) is one of the largest integrated shipping and marine companies in Southeast Asia. This company runs a shipping business, shipping services, ports and services, as well as logistics and storage.

PT Pertamina International Shipping (PIS) brought in two new tankers made by Hyundai, South Korea. The tanker is specifically for transporting LPG and ammonia cargo. PIS Main Director, Yoki Firnandi, revealed the reason for bringing in two new tankers in the form of Very Large Gas Carriers (VLGC). He sees the potential for the LPG and ammonia transportation business as having great potential. “This is the largest LPG tanker in the world. The price is US$ 110 million each. The area is about 1.5 times the size of a football field,” he said.

World LPG trade volume is projected to grow 13 percent in the next 5 years. Meanwhile, LPG imports from four large countries in Asia, namely China, Japan, South Korea and India are projected to increase by 35.4 percent in 2028, from 68.7 million tons to 98.31 million tons.

In Indonesia itself, demand for LPG for household needs will increase by an average of 3.9 percent per year until 2030. Meanwhile for ammonia, trade volume is projected to increase by an average of 22.5 percent per year until 2028. This is due to the increase in the need for ammonia for low carbon fuel.

These conditions and opportunities made PIS bring in two new tankers carrying LPG and ammonia. The two tankers imported by Pertamina were named VLGC Pertamina Gas Tulip and VLGC Pertamina Gas Bergenia. So, these two tankers are also a development of the PIS business for transporting green fuel.

To procure these two tankers, PIS collaborated with BGN International, which is one of the world’s largest LPG trading companies headquartered in Dubai, United Arab Emirates. The two tankers are owned by two companies with a 50:50 share under the umbrella of one company called PIS Polaris Plc. The price of these tankers is US$ 110 million each, with a carrying capacity of 91,000 cubic meters each.

PT Pertamina International Shipping (PIS) currently operates on more than 50 international routes. This logistics subholding from PT Pertamina (Persero) has around 97 of its own tankers and operates more than 300 vessels for national and international business.

January 9, 2024, CNBC Indonesia

(https://www.cnbcindonesia.com/news/20240109145458-4-504152/ekspansi-pertamina-shipping-tambah-2-tanker-raksasa-lpg-amonia)

Good news was conveyed by UNWTO (United Nations World Tourism Organization) that global tourism was in a recovery condition of almost 90% as before Pandemi in the end of this 2023. According to the latest data from UNWTO, it is estimated that 975 million tourists are on an international trip between January and September 2023. The figure increased 38% when compared to the same month in 2022.
The latest data from UNWTO shows that international tourism almost fully recovered from the Covid-19 crisis that has never happened before, with many destinations that reach, or even beyond, the number of arrivals and revenues before Pandemic.
Citing the comments of the Secretary General of UNWTO Zurab Pololikashvili who said: “UNWTO’s latest data shows that international tourism is almost fully recovered. This is important for destinations, businesses, and communities where this sector is the main path of life,” said Zurab Pololikashvili.
The challenge of Indonesia’s tourism 2024, Indonesia as one of the countries that places the tourism sector as a priority sector is inseparable from the various challenges it faces. One of them is Indonesian tourist visits abroad that are still relatively high. This is based on Traveloka data which recorded an increase in foreign flight search for almost three times compared to the same period last year, so that Indonesian tourist visits will be expected to increase during the Christmas and New Year holidays. Some of the causes of the high Indonesian tourists abroad are cheaper tiek aircraft prices, more attractive tour package promotional programs, and gensi or want to find a new atmosphere.
According to Taufan Rahmadi, Indonesian Tourism Strategy Expert, Indonesia faces other challenges are: 1) Increasing foreign tourist visits to Indonesia; 2) resolving the problem of the high transportation of air transportation to tourist destinations in Indonesia; 3) partiality of the local government towards tourism and the creative economy; 4) Improving the quality of tourist destination services; 5) Increasing the development of tourism infrastructure and creative economy; 6) Improving the quality of Tourism HR and Creative Economy; 7) Improvement of Big Data of Indonesian Tourism.
The challenge points described above require serious efforts from all parties, especially the Ministry of Tourism and the Creative Economy in working on the relevant parties, both ministries and other institutions to ensure work targets in the tourism sector as expected by President Joko Widodo can be achieved.

December 31, 2023, detikTravel
(https://travel.detik.com/travel-news/d-7116988/kondisi-pariwisata-global-di-2023-dan-tantangan-pariwisata-indonesia-di-2024)

Harita Nickel through its business unit PT Halmahera Persada Lygend (PT HPL) which is a business affiliate company from PT Trimegah Bangun Persada Tbk. (NCKL) has inaugurated the operation of the first nickel sulfate production in Indonesia and the largest in the world.
Nickel sulfate is the main ingredient constituent of an electric vehicle battery cathode precursor. The inauguration of the Nickel Sulfate production operation with a capacity of 240,000 tons per year was carried out in the Harita Nickel operational area on Obi Island, South Halmahera Regency, North Maluku Province, Wednesday (5/31).
Director of PT. Halmahera Persada Lygend, Tonny H. Gultom said, Harita Nickel through PT HPL in collaboration with Lygend Resources Technology Co., Ltd, produced Mixed Hydroxide Precipitate (MHP) as a raw material for electric vehicle batteries. The nickel sulfate factory, which was established on Obi Island, is claimed to be the first factory in Indonesia to produce it as well as being the largest in the world in terms of production capacity. The first export of nickel sulfate is planned to be carried out in June 2024.
“In the case of NISO4 production capacity, the Company will continue to improve and increase its capacity to reach 240,000 metric tons/year with a metal nickel content of 54,000 tons/year and is targeted to be achieved in mid-Q2 in 2024,” Tonny said in a written statement on Thursday (1/6).
Tonny revealed, on this mineral-rich Obi Island, his party would build an integrated mining industry from upstream to downstream. Starting from mining in 2010 through PT Trimegah Bangun Persada Tbk, Harita Nickel has done what is the mandate of the government about the spirit of downstreaming.
Since 2015, Harita Nickel has downstreaming through high levels of nickel processing through PT Megah Surya Pertiwi with 4 ferronickel production lines. “In 2018 we began to build downstreaming the processing of low-level nickel limonite which had been treated as over-burden (residual rocks) mixed hydroide precipitate,” said Tonny.
The downstream industry officially operated in June 2021 through the affiliation of PT Halmahera Persada Lygend. Furthermore, another Harita Nickel subsidiary, PT Halmahera Jaya Feronikel (PT HJF) in the first semester of 2023, has completed the construction of ferronickel smelters with 8 production lines. “The spirit of downstreaming is integrated in the form of a business road map, which to this day is proud and gratitude, holding hands with our partners from Lygend Resources Technology Co., Ltd., has succeeded Tonny.
Meanwhile Zhang Bao Dong, Director of PT Halmahera Persada Lygend who is also a representative of Lygend Resources Technology Co., Ltd. said, Lygend was very proud to work with Harita Group and produced a HPAL factory to its derivatives, Nickel Sulfat.
“We hope that in the future Harita and Lygend will jointly build the downstreaming industry in order to have a sustainable economic impact,” Zhang said.

December 28, 2023, CNBC Indonesia
(https://www.cnbcindonesia.com/market/20231228153217-17-500990/ri-resmi-punya-pabrik-nikel-sulfat-pertama-terbesar-di-dunia)

The Jakarta-Bandung high-speed rail operator PT Kereta Cepat Indonesia China (KCIC) has recorded over a million passengers after more than two months of operation. KCIC president director Dwiyana Slamet Riyadi said the number of passengers reflected the public’s desire for efficient public transportation.
“Reaching 1 million passengers in just two months is evidence of the high demand for modern and dependable public transportation in Indonesia,” Dwiyana said in a statement on Tuesday as quoted by Antara News.
Dwiyana said there had been a positive response toward Whoosh, citing that the average occupancy rate of passengers had consistently reached 90 percent of the total available seats for each train. The highest number of passengers served in a single day on Whoosh was 21,500 passengers, including during the current year-end holiday. On Nov. 12, the number of passengers was 21,312 passengers.
“The KCIC will continue to deliver a top-notch service to ensure that Whoosh remains the preferred choice for individuals traveling between Jakarta and Bandung,” he said.
According to Dwiyana, passenger surveys indicated that 48 percent of Whoosh users were private car users. Dwiyana suggested that the introduction of Whoosh had supported the government’s initiative to transition people from private transportation to a safer and more environmentally friendly public transportation system.
Dwiyana also highlighted the smooth operation of the Whoosh, highlighting that there had been zero accidents since it first operated. “the KCIC is thankful to all Whoosh passengers, and this serves as motivation for us to continue providing the best service to the community,” he said.
Furthermore, Dwiyana disclosed that the KCIC is currently expanding the number of trips from 40 to up to 48 trips per day to accommodate the expected increase in demand during the Christmas and New Year holidays.
“These additional trains are to meet the needs of passengers in anticipation of a surge during the Christmas-New Year period. The KCIC is prepared for the growing number of passengers wanting to go on vacation,” he added.

December 26, 2023, The Jakarta Post
(https://www.thejakartapost.com/business/2023/12/26/whoosh-records-1-million-passengers.html)

The Ministry of Industry revealed that Indonesia is in the top 10 contributors to world manufacturing products. Indonesia is the only ASEAN country on the list issued by safeguardglobal.com. Based on this publication, Indonesia contributes 1.4% to global manufactured products. This achievement is a significant increase because four years ago Indonesia was still in 16th position.
“This is an increase in level because this year we are in the top 10 category. Indonesia is the largest manufacturing powerhouse in ASEAN,” said Minister of Industry Agus Gumiwang Kartasasmita in a written statement, Thursday (21/12/2023).
Agus explained that the increase in ranking indicated that the manufacturing sector had a multiplier effect on other sectors. As an illustration, with increasing industrial output, the transportation sector will also increase, as will the energy, agricultural, plantation and maritime sectors which are sources of raw materials and production input factors for the manufacturing sector.
Indonesia’s position in the ranks of world manufacturing is strengthened by the value of industrial output which continues to increase in the period 2020 to September 2023. In 2020 the value of industrial output was claimed to be recorded at US$ 210.4 billion, increasing to US$ 228.32 billion in 2021 and increasing again to US $ 241.87 billion in 2022. Until September 2023, the value of industrial output will reach around US $ 192.54 billion. The increasing competitiveness of the industrial sector in Indonesia is also supported by investment realization, both from Domestic Investment and Foreign Investment. Investment in the manufacturing industry sector is claimed to continue to show an increase from IDR 213.4 trillion in 2020, to IDR 307.6 trillion in 2021, then reaching IDR 457.6 trillion in 2022.
“In January to September 2023, investment in the manufacturing sector has been recorded at IDR 413 trillion,” explained Agus.
Manufacturing industrial products have been proven to penetrate the export market, as shown by the dominance of the manufacturing industrial sector in total Indonesian exports. Manufacturing industry exports, which in 2020 were recorded at US$ 131.09 billion, increased to US$ 177.2 billion in 2021. In 2022, the manufacturing industry export figure reached US$ 206.06 billion or an increase of 16.29% from the previous year’s achievement. . Meanwhile, in January-November 2023, the figure will reach US$ 171.23 billion.
The productivity of the manufacturing sector is also claimed to have succeeded in opening up more job opportunities. During the COVID-19 pandemic, the number of workers was 17.49 million, then gradually increased to 18.19 million in 2021 and 18.90 million in 2022. Most recently, data from Sakernas for August 2023 showed that the number of workers in the non-oil and gas processing industry sector was 19 .29 million workers.
Then the Indonesian Manufacturing Purchasing Manager’s Index, which for 27 consecutive months continues to be at the expansion level. This shows that the performance of the Indonesian manufacturing sector is stable, even though the global economy has not yet stabilized, it can maintain the perception of industry players regarding their business conditions.
“This shows the stable condition of Indonesia’s manufacturing sector. Until now there are only two countries in the world, namely India and Indonesia, which are in this position,” explained Agus.

December 21, 2023, detikFinance
(https://finance.detik.com/industri/d-7102602/top-ri-masuk-10-besar-penyumbang-produk-manufaktur-dunia)

Pertamina New & Renewable Energy (Pertamina NRE) and Tokyo Electric Power Company Holdings, Incorporated (TEPCO HD) This signing took place on Friday (12/15) in Tokyo, Japan by Dannif Danusaputro Chief Executive Officer Pertamina NRE and Chikara Kojima, Executive Vice President of TEPCO HD. The signing also coincided with the Asia Zero Emission Community (AZEC) activities.
This agreement clarifies the structure and schedule of collaboration activities that will be carried out further and stipulates that Pertamina NRE and TEPCO HD will work together for the first phase of projects, which are scheduled to start rolling in 2024. Pertamina NRE and TEPCO HD are preparing for the construction of hydrogen production facilities that are located In the Lahendong Geothermal Power Plant owned by PT Pertamina Geothermal Energy Tbk, a subsidiary of Pertamina NRE, located in North Sulawesi.
Previously on October 18, 2022, Pertamina NRE and TEPCO HD signed a joint study agreement for the development of hydrogen and green ammonia in the geothermal area of Lahendong, North Sulawesi. The joint study conducted by the two entities received support from Nedo, the Japanese National Research and Development Institute that encouraged the development of technology in order to build a sustainable community life.
“Clean hydrogen is one of Pertamina’s future businesses. We are very enthusiastic in collaborating with TEPCO as a global reputable partner for the development of green hydrogen and Green Ammonia. We are sure this collaboration will create significant values, especially in the efforts of energy transition and decarbonization,” said Dannif Danusaputro.
Chikara Kojima, Executive Vice President of TEPCO HD, said, “TEPCO HD has been producing hydrogen in Yamanashi’s prefecture since 2016 with a very up-to-date technological experience. We are very happy that our technology can be useful for decarbonization initiatives in Indonesia. Moreover, we work together with Pertamina NRE, a leading green energy company in Southeast Asia.
Hydrogen in this case is produced from the electrolysis process. Included in clean hydrogen include green renewable energy hydrogen such as geothermal. Clean hydrogen has a strategic role in energy transitions which can be a solution to fossil fuel for industries that are difficult to decarbonize products or production processes (hard-to-abate industry), such as oil refineries, steel industries, other heavy industries, and transportation heavy.
Pretamina NRE and TEPCO HD aim to contribute to the neutral carbon society by utilizing Indonesia’s abundant geothermal resources for hydrogen and ammonia production that is cost-effective and profitable.
Clean hydrogen development is one of the Pertamina NRE portfolios which is included in the future business pillars. The development of clean hydrogen will help Pertamina in monetizing its energy portfolio. Pertamina NRE also consistently shows the real commitment and action in supporting the decarbonization. Decarbonization efforts are part of the Net Zero Emission road map as well as a form of Pertamina’s commitment to implement ESG, which is running a responsible and sustainable business.
Pertamina as a leader company in the field of energy transition, is committed to supporting the Net Zero Emission 2060 target by continuing to encourage programs that have a direct impact on the achievements of Sustainable Development Goals (SDG’s). All of these efforts are in line with the application of Environmental, Social & Governance (ESG) throughout Pertamina’s business line and operations.

December 17, 2023, detikFinance
(https://finance.detik.com/energi/d-7094069/pertamina-gandeng-jepang-buat-kembangkan-hidrogen-dan-amonia-rendah-karbon)

Indonesia has recorded twenty special economic areas. The twenty Special Economic Zone that operated successfully recorded success and contributed to the cumulative investment achievement until the IV quarter of 2023 of IDR 167.2 trillion and was able to open a new job of 113,038 people in a cumulative manner.
This was revealed by the Secretary of the Coordinating Ministry for Economic Affairs as Plt. Secretary General of the Special Economic Zone National Council Susiwijono Moegiarso in the National Economic Zone National Working Meeting at Sheraton Belitung Resort located in the Special Economic Zone Tanjung Kelayang, Belitung Regency, Bangka Belitung Islands Province, Tuesday (12/12/2023).
Susiwijono revealed that the Special Economic Zone is still able to sustain the Indonesian economy, indicated by various positive economic zone achievements ranging from the application of downstreaming, investment realization, to the addition of a significant number of business actors and employment.
“With the strengthening of the policies that apply in the Special Economic Zone that presents certainty, clarity, and ease of policy implementation, it is expected to improve the quality of the investment climate in the Special Economic Zone and encourage the increasing number of investors to enter the Special Economic Zone Indonesia, especially foreign investment,” said Susiwijono.
In the future, the central government, regional governments, and business actors will evaluate and formulate strategies to improve the performance of special economic zones to support national economic growth.
The implementation of the Special Economic Zone 2023 National Working Meeting at the Tanjung Kelayang Special Economic Zone became a forum for a Special Economic Zone stakeholder from all corners of Indonesia, including representatives.

December 13, 2023, CNBC Indonesia
(https://www.cnbcindonesia.com/news/20231213143932-4-496943/jreng-total-investasi-20-kek-di-ri-capai-rp-167-t)