Economy: The World Bank Will Support Two Major Projects in Indonesia
The World Bank has approved funding of US$ 2.128 billion or around IDR 34.65 trillion to support
two major projects in Indonesia to create jobs, boost economic growth, and expand access to
clean energy across Indonesia. The first project is a policy reform program valued at US$ 1.5 billion funded through the Indonesia Productive and Sustainable Investment Development Policy Loan scheme. This program aims to strengthen the financial sector by expanding digital financial services, addressing credit infrastructure barriers, developing the capital market, and increasing
resilience to climate and disaster risks. In addition, this program will also support the procurement of renewable energy technology by reducing the domestic content obligation (TKDN), aligning industrial zone policies with international environmental standards, and implementing mechanisms to encourage private investment in the infrastructure sector. The second project is the Sustainable Least-Cost
Electrification-2 (ISLE-2) aimed at expanding electricity access for 3.5 million people and building solar and wind power generation capacity of 540 megawatts (MW). This project is expected to reduce electricity generation costs by at least 8% and reduce greenhouse gas emissions by up to 10% in the regions of Kalimantan and Sumatra. (Kontan)
Crude Oil: Oil Prices Drop 1.35% as Iran Pushes for Ceasefire with Israel
Crude oil prices fell sharply on Monday (June 16, 2025) following reports that Iran is seeking a peaceful resolution with Israel. This news has raised the possibility of a ceasefire and eased market concerns about potential oil supply disruptions from the Middle East. Brent futures contracts closed down 1.35 percent at USD73.23 per barrel. Meanwhile, West Texas Intermediate (WTI) contracts in the US dropped 1.66 percent to USD71.77 per barrel. Reuters reported that Iran has asked Qatar, Saudi Arabia, and Oman to encourage US President Donald Trump to use his influence over Israel to agree to a ceasefire. In return, Tehran has stated it is willing to be more flexible in negotiations regarding its nuclear program.
Petrochemical: Danantara and INA Invest IDR 13T in TPIA’s Factory
Danantara Indonesia and Indonesia Investment Authority (INA) have signed a memorandum of
understanding with PT Chandra Asri Pacific Tbk (TPIA) to invest up to USD 800M (approximately IDR 13T) in the construction of a chlor-alkali and ethylene dichloride (EDC) plant. The facility, to be managed by a Chandra Asri subsidiary, is projected to produce 400,000 tons of solid caustic
soda and 500,000 tons of EDC annually and is expected to save up to IDR 4.9T annually by
replacing imports and generate around IDR 5T in annual foreign exchange. This agreement positions Danantara and INA as strategic investors in Indonesia’s industrial downstream expansion, while Chandra Asri’s CEO Erwin Ciputra highlighted the investment as a vote of confidence in Indonesia’s chemical industry growth trajectory. (Kontan)
BBCA Posts Solid Performance in 5M25
PT Bank Central Asia Tbk (BBCA) recorded a solid performance in the first five months of 2025, with standalone bank profit reaching IDR 25.2 trillion, up 16% YoY compared to IDR 21.6 trillion in the same period last year. This growth was supported by a 7% YoY increase in net interest income to IDR 33.1 trillion, despite facing tight liquidity conditions. Provision expenses also declined by 18% YoY to IDR 1.4 trillion. On the intermediation side, BBCA maintained cautious credit expansion, with loan growth of 12% YoY to IDR 924 trillion as of May 2025, while third-party funds (DPK) grew at a faster pace to IDR 1,155 trillion, easing the Loan-to-Deposit Ratio (LDR) from 80.4% to 80%. Additionally, the low-cost funding ratio (CASA) continued to rise from 82.9% to 83.2%, reflecting efficient fund management amid a challenging market environment. (Kontan)
DMND Declares IDR 66.3B Dividend
PT Diamond Food Indonesia Tbk. (DMND) will distribute a cash dividend of IDR 66.3B or IDR 7
per share for the 2024 fiscal year, as approved in the Annual General Meeting held on June 13, 2025.
The dividend schedule includes a cum date on June 23 for the regular market and a payment date on July 17. Backed by a 16.9% yoy increase in net profit to IDR 363.9B, the dividend represents a payout ratio of around 18.2%. (Emiten News)
GIAA Achieved an Idbbb Rating Back from PEFINDO at the End of May 2025
PT Garuda Indonesia (Persero) Tbk (GIAA) has again achieved an idBBB rating from PT Pemeringkat Efek Indonesia (Pefindo) at the end of May 2025. This rating reflects the company’s ability to meet long-term financial obligations in a timely manner and indicates that steps are being taken. For information, the assessment is based on GIAA’s audited financial statements as of December 31, 2024, unaudited financial statements as of March 31, 2025, as well as a number of other supporting data and information. In Pefindo’s classification, the idBBB rating indicates a sufficiently adequate investment grade with stable business prospects.
GOTO to Transfer 32.18 billion Treasury Shares for MESOP
PT GoTo Gojek Tokopedia Tbk (GOTO) plans to allocate 32.18 billion treasury shares from its buyback program to support its Management and Employee Stock Option Program (MESOP). The proposal will be presented at an Extraordinary General Meeting of Shareholders (EGMS) on June 18, 2025, ensuring no dilution for existing shareholders. The shares were repurchased between June 2024 and June 2025, totaling IDR 2.09T (USD 130.83M). GOTO aims to enhance employee incentives, retain talent, and boost competitiveness in the tech industry. MESOP execution will be regularly reported to OJK and IDX. (Bisnis Indonesia)
NFCX Expands Digital Ecosystem, Issues 66.67 Million Shares via Private Placement
PT NFC Indonesia Tbk (NFCX) plans to increase its capital through a private placement scheme to
expand its business in the digital ecosystem. In the latest prospectus, on Monday (June 16, 2025), the company plans to issue 66,666,750 new shares with a nominal value of Rp100 per share. This amount is equivalent to 10 percent of the total shares that have been placed and fully paid in the Company. The funds raised from the issuance of new shares will be used to increase share ownership in subsidiaries and other companies with bright business prospects. The sectors that will be the focus of development include digital product and service aggregation, cloud-based digital advertising, clean energy, content and entertainment, digital wholesale sales, and other digital technologies and services.
PBSA: Approves IDR 165B Dividend, Offers 12.4% Yield Amid Strong 2024 Earnings
PT Paramita Bangun Sarana Tbk. (PBSA) has approved a cash dividend payout of IDR 165 billion or IDR 55 per share, which represents 76.75% of its 2024 net profit. Backed by a 101.53% YoY surge in revenue to IDR 1.15 trillion and an 11.57% increase in net profit to IDR 215.04 billion, the dividend translates to a yield of approximately 12.44% based on the stock’s June 16 opening price of IDR 442, among the highest in the construction sector this month. The official dividend distribution schedule will follow, and investors are advised to monitor regulatory disclosures for key dates.(Emiten)
RGAS Targets IDR 160B Revenue in 2025, Seizing Opportunities in EPC Sector
PT Kian Santang Muliatama Tbk (RGAS), a company engaged in gas industry support services, targets revenue of up to Rp160 billion in 2025. Various strategies have been prepared by RGAS management, including responding to significant opportunities in the engineering, procurement, and construction (EPC) sector. The revenue target set by RGAS management is Rp150-Rp160 billion for 2025. RGAS is currently executing several contracts for building household gas network project from PT Perusahaan Gas Negara Tbk (PGAS), including in the regions of Semarang, Yogyakarta, Jakarta, Bogor, and Bekasi (Jabobek). The contracts with PGAS are long-term, thus providing potential for additional revenue in the future.
SSIA to Distribute IDR 70.58B dividend
PT Surya Semesta Internusa Tbk. (SSIA) has announced a cash dividend distribution of IDR 70.58B or IDR 15 per share for fiscal year 2024, representing approximately 30.14% of the company’s net profit of IDR 234.22B. The dividend schedule includes a cum date on June 23, 2025, and payment date on July 17, 2025. The company emphasized that the dividend payout will not affect its business continuity. Additionally, SSIA plans to allocate IDR 3.6T in capital expenditure (capex) for 2025, with IDR 2.4T focused on accelerating development of the Subang Smartpolitan industrial area and IDR 1.1T on renovating the Hotel Melia Bali. (Bisnis Indonesia)
