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Indonesia’s Pertamina Seeks New Partners in Rokan Block

JAKARTA (TheInsiderStories) - The national state-owned oil and gas company, PT Pertamina, is looking for potential partners in the Rokan Block, Riau, which will take over...

Indonesia’s Adhi Karya Targets New Contract US$2B in 2021

JAKARTA (TheInsiderStories) - The state-owned construction company, PT Adhi Karya Tbk (IDX: ADHI) targeting to raises new contracts Rp32.9 trillion (US$2.33 billion) in 2021, up 15...

Indonesia Financial Group to Releases Rupiah Bond US$709M

JAKARTA (TheInsiderStories) - Insurance and underwriting firm, Indonesia Financial Group (IFG), to releases the domestic bond worth of Rp10 trillion (US$709.22 million) to restructure PT Asuransi...

Indonesia’s LinkAja to Closes Series C Funding US$60M

JAKARTA (TheInsiderStories) - PT Fintek Karya Nusantara (Finarya), the manager of LinkAja, to raises Series C funding with an estimated amount of US$60 million, said the...

Indonesia’s Pertamina EP Completes Two Oil and Gas Blocks

JAKARTA (TheInsiderStories) - PT Pertamina EP, an oil and gas producer under PT Pertamina, has completed SP Bambu Besar and SKG Betung projects in this month....

Indonesia’s PTPP, CNI Build Ferronickel Smelter Project

JAKARTA (TheInsiderStories) - State-owned construction firm, PT PP Tbk (IDX: PTPP) and a private nickel producer, PT Ceria Nugraha Indotama (CNI), collaborating to construct a ferro-nickel...

Indonesian Govt Pays ‘Debt’ US$6.46B to PLN and Pertamina

JAKARTA (TheInsiderStories) - Indonesian government paid its obligation to PT Perusahaan Listrik Negara (PLN) and Pertamina with total amoun Rp90.4 trillion (US$6.41 billion) as a compensation...

Indonesia’s MDI Ventures Ready to Bring Startups Go IPO

JAKARTA (TheInsiderStories) - Local venture capital company, MDI Ventures is preparing four startups in its portfolio to list their shares (IPO) in Indonesia Stock Exchange or dual...

Indonesia’s Wijaya Karya to Issues Bond, SUKUK US$142M

JAKARTA (TheInsiderStories) - Publicly listed firm, PT Wijaya Karya Tbk (IDX: WIKA) has plans to raise funds from the issuance of bond and SUKUK up...

Indonesia’s Jasa Marga To Operates 1,292KM Toll Roads in 2021

JAKARTA (TheInsiderStories) - The toll road and infrastructure firm, PT Jasa Marga Tbk (IDX: JSMR) targeting to operates 1,292 kilometers (km) of toll roads by 2021....

South Korea’s LG Chem to Signs US$20B Lithium Battery Project This...

JAKARTA (TheInsiderStories) - The South Korean battery giant, LG Chem Ltd., to sign a joint investment agreement to develop nickel become lithium battery for electric vehicle...

Three State Firms to Receive Capital Injection US$608M

JAKARTA (TheInsiderStories) - Directorate general of state wealth at the finance ministry, announced an additional capital injection for three state firms with total amount Rp8.57 trillion (US$607.80...

Bank Rakyat Indonesia, Pegadaian, PNM Will Synergizes on MSMEs

JAKARTA (TheInsiderStories) - Three state-owned enterprises (SOEs), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Pegadaian, and PT Permodalan Nasional Madani (PNM) plans to synergize micro,...

Indonesia’s Adhi Karya Slices Bond Issuance to US$43M

JAKARTA (TheInsiderStories) - Construction firm, PT Adhi Karya Tbk (IDX: ADHI) cut its local bond issuances from Rp2 trillion to Rp600 billion (US$42.85 million), said the...

Grab Indonesia Leads US$100M Series B Round in LinkAja

JAKARTA (TheInsiderStories) - Grab Indonesia led the Series B Round worth of US$100 million for LinkAja, the financial technology (FinTech) apps owned by the state-owned enterprises...

Indonesia Will Inject US$143M for Bio Farma to Produces Vaccine

JAKARTA (TheInsiderStories) - Indonesian government will inject Rp2 trillion (US$142.83 million) to state-owned pharmacy company, PT Bio Farma to construct vaccine manufacturing and production facilities,...

Australia’s McConnel, PTPP Build IPAL Project in South Sumatera

JAKARTA (TheInsiderStories) - Australian contractor, McConnell Dowell, and state-owned construction firm, PT PP Tbk (IDX: PTPP) partnering to build Palembang City Wastewater Treatment Plant (IPAL) project,...

UK’ Anti-Corruption Investigates Bombardier, Garuda Contracts

JAKARTA (TheInsiderStories) - United Kingdom (UK) Serious Fraud Office confirmed its investigating plane producer, Bombardier Inc., over suspected bribery and corruption in relation to contracts or...

Holding Tourism: Garuda Indonesia to Merges with Seven SOEs

JAKARTA (TheInsiderStories) - The Indonesian government plans to merge PT Garuda Indonesia Tbk (IDX: GIAA) with other tourism state-owned enterprises (SOEs) to set up a holding...

Indonesia Financial Group to Manages US$5B of Assets

JAKARTA (TheInsiderStories) - The new state-owned insurance and guarantee company, Indonesia Financial Group (IFG), to manages Rp72.5 trillion (US$4.93 billion) of assets, said the...

Indonesia’s Bank Mandiri Hold Majority Stakes in BRISyariah

JAKARTA (TheInsiderStories) -  One of the largest bank in Indonesia, PT Bank Mandiri Tbk (IDX: BMRI), will become the dominant shareholder in the sharia bank...

Indonesia’s Wijaya Karya Eyes US$136M from Bond Market

JAKARTA (TheInsiderStories) - Another state-owned firm, PT Wijaya Karya Tbk (IDX: WIKA) seeks funds from bond market up to Rp2 trillion (US$136.05 million) in this year,...

Garuda Indonesia Issues MCB US$578M, Diluted Tanjung’s Shares to 9%

JAKARTA (TheInsiderStories) - The airlines firm owned by the government, PT Garuda Indonesia Tbk (IDX: GIAA) announced to issue Mandatory Convertible Bonds (MCB) amounting to Rp8.5...

Indonesia’s Krakatau Steel Releases MCB US$204M

JAKARTA (TheInsiderStories) - Indonesia' steel producer, PT Krakatau Steel Tbk (KRAS) plans to issue Mandatory Convertible Bond (MCB) with total amount Rp3 trillion (US$204.08 million), said...

ANTAM, PLN, Pertamina Forms Indonesia Battery Holding

JAKARTA (TheInsiderStories) - State-run firms, PT Aneka Tambang Tbk (IDX: ANTM), PT Perusahan Listrik Negara (PLN), and PT Pertamina, plans to form a new venture...

Angkasa Pura II: Cargo Business Rises in 3Q of 2020

JAKARTA (TheInsiderStories) - Airport operator, PT Angkasa Pura II (AP II) reported its cargo businesses reached 151.97 million kilograms in third quarter (3Q) of 2020 and...

Indonesia’s Adhi Karya Seeks US$136M from Bond Market

JAKARTA (TheInsiderStories) - State-owned construction firm, PT Adhi Karya Tbk (IDX: ADHI) seeking funds up to Rp2 trillion (US$136.05 million) from bond market in this year....

Indonesia’s Waskita Pay Debt US$169M After Raises Bank Loan

JAKARTA (TheInsiderStories) - The construction firm, PT Waskita Karya Tbk (IDX: WSKT) raised a bank loans Rp2 trillion from state-owned lender, PT Bank Negara...

Indonesia’s Hutama Karya Prepares Three Subsidiaries Go IPO

JAKARTA (TheInsiderStories) -State-owned toll operator, PT Hutama Karya, plans to bring three of its subsidiaries take a floor (IPO) at the Indonesian Stock Exchange...

Indonesia Set Dividend Targets from SOES US$1.76B in 2021

JAKARTA (TheInsiderStories) - Indonesian government targeting to raises the dividend payment from state-run companies around Rp26.13 trillion (US$1.76 billion), the 2021 State Budget data showed. Next...