JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today:
India’s Balmer Divest 50% Indonesian Unit Shares
Balmer Lawrie & Co Ltd, unit of the Ministry of Petroleum & Natural Gas, Government of India, is looking to divest 50 per cent stake in its Indonesian joint venture PT Imani Ganda Utama. The JV was instituted in March 2010 by Balmer Lawrie’s wholly-owned subsidiary Balmer Lawrie (UK) Ltd and Indonesia’s PT Imani Wicaksana, which is engaged in the production of greases, lubricants and bituminous compounds. With several JV operations in India and abroad Balmer Lawrie operates six strategic business units – industrial packaging, greases and lubricants, leather chemicals, travel and vacations, logistics and refinery and oil field services, with offices spread across the country. It also has several joint venture operations in India and abroad.
BRI Developing New Building Worth up to Rp1.4 Trillion
PT Bank Rakyat Indonesia Tbk (IDX:BBRI), a largest state-owned bank in Indonesia, is developing a new building, to be called BRI Gatot Subroto Tower with an estimated investment of Rp1.3-1.4 trillion. The building will be built on 8,589 square meters of land. The bank has appointed PT Pembangunan Perumahan Tbk (IDX:PTPP) as the main contractor to develop the building. BRI will allocate Rp1 trillion from its cash for the project. The building will consist of 37 floors and 5 basements. The groundbreaking of the project was held on Wednesday (27/12), which was attended by the Minister of State Owned Enterprise.
Kimia Farma Ties Up with Telkom
State-owned pharmaceutical company PT Kimia Farma Tbk (IDX:KAEF) ties up with PT Telekomunikasi Indonesia Tbk (IDX:TLKM) to strengthen the company’s digital system. Both parties have signed a cooperation agreement on Wednesday (27/12). Under the deal, Telkom will provide cloud infrastructure network, hardware as well as integrated application utilizing the Enterprise Resources Planning (ERP). Telkom will provide a number of applications including smart stock, omni channel, customer loyalty, big data analytics, and home care. President Director of Kimia Farma Honesti Basyir said the improvement of the company’s IT system aims to provide better service provided to customers across Indonesia.
Nickel Smelter Investment Reaches US$5.05 Billion
The Energy and Mineral Resources Ministry recorded investment in the nickel smelter reached US$5.05 billion or Rp68 trillion as of end October, in line with the government’s drive to boost investment in the downstream mineral sector. Director General for Coal and Mineral at the energy ministry Bambang Gatot Ariyon said the companies that have invested in building smelters are including, Vale, Aneka Tambang, FBLN, Sulawesi Mining Investment, Gebe Industry Nickel, Megah Surya Pertiwi, COR Industri Indonesia and Heng Tai Yuan.