Tag: investment landing

PT Pertamina (Persero) through PT Pertamina Malaysia Exploration of Production (PMEP) together with Mitra succeeded in winning the SK510 Exploration Block Auction through Malaysia Bid Round (MBR) 2023. MBR is a series of auction activities held every year by Malaysia Petroleum Management (MPM) Petronas namely Agency responsible for oil and gas resources in Malaysia. Participating Interest (PI) Holder of Participation Rights in the SK510 Block consists of Petronas Carigali SDN BHD which applies as an operator with a PI of 40%, PMEP and Inpex Malaysia E&P SK510 SDN BHD each has a 25%PI, and Petroleum Sarawak Exploration & Production SDN BHD has the remaining 10% PI.

The 1,864 km2 SK510 block located off the coast of Sarawak, Malaysia is a work area in the upstream asset management portfolio of PT Pertamina Hulu Energi (PHE) as the Subholding Upstream Pertamina. With this acquisition, there are a total of 6 blocks in the management of PMEP.

PMEP, is a subsidiary of PT Pertamina Internasional Exploration and Production (PIEP), which is affiliated with PHE, manages exploration and oil and gas production activities in the Sabah and Sarawak Malaysia regions with the type of Production Sharing Contract (PSC) contract. PMEP has PI in 3 production blocks namely SK309 (25.5%), SK311 Block (25.5%), and Block K (24%). Two exploration blocks namely SK510 (25%) and SK 314A (25.5%). Then, 1 Block of Development and Exploration- Block H (18% except the Rattan Field -24%).

Director of Strategic Planning and Business Development PHE Danar Dojoadhi, explained that Pertamina continues to strengthen the advantages possessed by taking opportunities that can support the company’s business growth by implementing the principles of environmental, social, and good governance (ESG).

“We believe that the management of the SK510 Block can strengthen Footprint PHE in Malaysia in an effort to achieve the company’s target by increasing oil and gas resource growth through exploration assets abroad,” Danar said in a written statement, Wednesday (1/24/2024).

Furthermore, Danar explained that expanding the work area through new exploration blocks, both domestic and international is very important to maintain the sustainability of fossil energy resources. PHE has also completed the acquisition of oil and gas blocks in several work areas including Mahakam & Flower Flowers in Eastern Indonesia, East Natuna in the Indonesia-Malaysia-Vietnam border area, and Masela in Maluku.

January 24, 2024, detikFinance

(https://finance.detik.com/energi/d-7157756/top-pertamina-garap-ladang-migas-di-malaysia)

PT PLN (Persero) through PLN Indonesia Power Subholding immediately operates the first hydrogen refueling station (HRS) charging station in Indonesia, located in Senayan, Jakarta. The progress of the HRS development has now reached 98 percent and is targeted to be completed in February 2024. This aggressive step continues the use of green hydrogen production from 21 Green Hydrogen Plants that have been operated by the company since November 2023. PLN President Director Darmawan Prasodjo said PLN together with the government continued to take strategic steps in energy transitions. One of them is through the use of green hydrogen as an environmentally friendly alternative energy to replace fuel oil. This step is also part of an effort to reduce carbon emissions in the transportation sector.

“This is proof, we walk the talk that we realize this commitment in real form. Not only the infrastructure for charging electric vehicles, but we are also ready to present the first hydrogen refueling station in Indonesia as an environmentally friendly energy option for vehicles,” Darmawan said in his statement, quoted Tuesday (1/16/2024).

This almost completed HRS is ready to serve all types of hydrogen -based vehicles from private vehicles, public vehicles, to heavy vehicles. Because in this first phase of construction, HRS Senayan has been equipped with 150 bar HRS, 300 bars and will gradually be raised up to 700 bars. PLN is also making innovations in hydrogen-based electric vehicles that will be exhibited during the inauguration of HRS Senayan. The vehicle made by PLN Nusantara Power Subholding is 150 bars based.

“The development of the green hydrogen supply chain is at the same time strengthening national energy security. That is, we switch from the majority of fuel based on imports to Green Hydrogen which is domestically produced in the country,” he added.

HRS Senayan will be more strategic because there is also a hydrogen -based electric vehicle charger that has the same function as the Public Electric Vehicle Filling Station. There was also a hydrogen center and hydrogen gallery room there was also built as a training and education center related to hydrogen in Indonesia.

PLN can currently produce 199 tons of green hydrogen. Of the total production, PLN only uses 75 tons for the operational needs of the generator, while the remaining 124 tons can be used for other needs. This amount can be used to serve 424 cell electric vehicles, so that it can save fuel imports by 1.55 million liters/year and reduce carbon emissions to 3.72 million kg CO2/year.

To run this program, PLN has collaborated with the Ministry of Energy and Mineral Resources, the National Research and Innovation Agency and Indonesia Fuel Cell and Hydrogen Energy.

“In the long journey of this energy transition, PLN cannot walk alone, the only way to keep going forward is by collaboration. Because whatever the challenges, we must fight so that the earth becomes a better place for future generations,” concluded Darmawan.

January 16, 2024, detikFinance

(https://finance.detik.com/energi/d-7145223/pln-segera-operasikan-stasiun-pengisian-hidrogen-pertama-di-ri)

The relationship between Indonesia and Vietnam has been going on for a long time, so that currently the two countries have agreed to set new targets in terms of trade. This was decided from the bilateral meeting of President Joko Widodo (Jokowi) with Vietnamese President Vo Van Thuong, Friday (12/1/2024).

“The 10 years of Indonesia and Vietnam’s strategic partnerships are celebrated by exceeding the trade target of US $ 10 billion (equivalent to IDR 155.6 Trillion) and the strength of cooperation in various fields,” Jokowi said when giving a joint press statement.

From that meeting Jokowi revealed that the two countries agreed to increase new trade targets. In addition, there is also an increase in cooperation in the fields of food, energy transition, and digital economy.

“Regarding the meeting I want to convey the first few things we agree to increase new trade targets,” Jokowi said.

On the same occasion the President of Vietnam, Vo Van Thuong also revealed several results of the meeting. One of them from the trade sector of the two countries set a new trade target of US $ 15 billion or equivalent to IDR 233.4 Trillion (IDR 15,565.00 /US $). He also requested specifically requested that agricultural products and Vietnamese halal products be given the ease of entering the Indonesian market.

“Third, try to quickly bring bilateral trade in the level of US $ 15 billion and more in accordance with the current direction. In addition, we also ask that Indonesia create ease of sharing of agricultural products and halal products from Vietnam to approach the Indonesian market,” said Thuong.

There is other cooperation such as strengthening in the fields of education, training, agriculture, fisheries, culture, tourism, and information technology. Also expands to other fields of potential such as the digital economy and energy transformation.

Thuong invites Indonesian business entities to further increase investment in Vietnam, especially in the banking sector, financial technology (fintech), creative innovation and so on. On the other hand, it makes it easy for Vietnamese business entities to invest in Indonesia.

In the automotive field, Vinfast, one of the largest private companies in the automotive field in Vietnam will build an electric car factory in Indonesia. He explained that this factory was able to compete with global electric automotive players by having a factory in the USA. Vinfast produces 250 thousand units of cars per year. The total investment of this cooperation is US $ 1.2 billion or equivalent to IDR 18.7 trillion.

“I believe that the visit of the Indonesian President Joko Widodo and Indonesia’s high-level delegation will make an active contribution to the development of Vietnam-Indonesia’s strategic relations and strategic partnerships in the interests of the people of two countries, for peace, the stability of cooperation and development in the region and the world, “concluded Thuong.

January 12, 2024, CNBC Indonesia & detikFinance

(https://www.cnbcindonesia.com/news/20240112184945-4-505264/ri-vietnam-sepakat-kejar-target-dagang-rp233-t)

(https://finance.detik.com/energi/d-7140513/ri-gandeng-vietnam-bangun-pabrik-mobil-listrik-erick-kuatkan-ekosistem-ev)

(https://finance.detik.com/berita-ekonomi-bisnis/d-7138597/ri-dan-vietnam-sepakat-kerja-sama-di-bidang-pertanian-perikanan)

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)