Singapore Telecommunications (Singtel) has acquired a stake of around 16.26% in Bank Fama International, an Indonesian bank, for IDR 500 billion ($35 million). The transaction was carried out by its fully-owned subsidiary — Singtel Alpha Investments by purchasing 2.4 billion new shares issued by the Indonesian bank. According to Singtel, the cash consideration was determined […]
Aquadrill said that it has reached an agreement alongside a subsidiary Vantage Holdings International to supply the Capella drillship for drilling operations in Indonesia. According to the drilling contractor, the contract is for two wells and comes with two optional wells. The MPD outfitted sixth generation drillship will be subcontracted by Premier Oil Andaman Limited for […]
Tata Consultancy Services (TCS) said that Dutch plastic pipes manufacturer Wavin has deployed the TCS ERP on Cloud platform for achieving the expansion of its business in new growth markets in Indonesia and India. Wavin is said to have been pursuing an ERP solution that can be quickly deployed for realizing its growth strategy in […]
Indonesia and Japan will collaborate on a study on carbon capture and storage (CCS) and utilization of carbon dioxide for producing clean fuel ammonia in Central Sulawesi, as per an announcement made in March 2021. In this connection, a memorandum of understanding (MOU) has been signed by Japanese entities – Japan Oil, Gas and Metals […]
PETRONAS via its subsidiary North Madura II has made an oil discovery at the Hidayah-1 exploration well within the North Madura II Production Sharing Contract (PSC) off the coast of East Java in Indonesia. North Madura II is the operator with a 100% participating stake in the North Madura II PSC. Spudded on 7 January […]
Brazilian mining company Vale said that its subsidiary Vale Canada and Sumitomo Metal Mining have agreed to sell a 20% stake of Indonesian copper ores company Vale Indonesia to Indonesia Asahan Aluminium (Persero) (Inalum) for a sum of IDR5.52bn ($371m). Vale is selling a stake of 14.9% for about $290 million, while the Japan-based Sumitomo […]
The Asian Development Bank (ADB) has sanctioned a $300 million loan to Indonesian state-owned company Geo Dipa Energi (GDE) for expanding its geothermal power generation capacity by 110MW in Java Island through the construction and commissioning of two geothermal power plants. Additionally, the Asian Development Bank will manage a $35 million loan from the Clean […]
Olam International will sell out it 50% stake in Indonesian sugar producer Far East Agri to its joint venture partner Mitr Phol Sugar for up to $85 million. The Singaporean food and agri-business company said that its exit from the Indonesian sugar joint venture aligns with its six-year strategic plan, which was announced in January […]
Zurich Insurance Group has completed its previously announced 80% stake acquisition in Asuransi Adira Dinamika Insurance (Adira Insurance), an Indonesian property and casualty insurer. The Swiss insurer acquired the stake from Bank Danamon Indonesia and an undisclosed minority stakeholder in a deal worth up to IDR6.15 trillion (about $414 million at the time of signing […]
Eni’s subsidiary Eni East Sepinggan has wrapped up its previously announced sale of a 20% stake in the East Sepinggan area, offshore Indonesia, which contains the Merakes development and Merakes East discovery, to Neptune Energy Group’s subsidiary Neptune Energy East Sepinggan. Financial details of the deal that was announced in July 2019 remained to be […]