Energy: Pertamina Secures 20% Stake in Philippine Renewable Energy Firm CREC
Pertamina New & Renewable Energy (Pertamina NRE) has acquired a 20% stake in the Philippine renewable energy company Citicore Renewable Energy Corporation (CREC) for USD 120 million (IDR 1.96 trillion). The strategic partnership aims to enhance Pertamina’s green energy portfolio, promote cross-border collaboration, and boost technology exchange. Both parties also signed a framework agreement to explore renewable energy and carbon credit initiatives in Indonesia. The deal is expected to create long-term value for both nations by supporting solar development, boosting local industry, and reinforcing Indonesia’s position in Southeast Asia’s clean energy transition. (IDX Channel)
Technology: DAMAC’s IDR 37.5T AI Data Center Set to Rival DCII and Equinix
Competition in Indonesia’s AI-focused data center market is intensifying with the entry of EDGNEX Data Centers by DAMAC from Dubai, investing USD 2.3 billion (around IDR 37.54 trillion) to build an AI facility in Jakarta. The project is poised to become one of Southeast Asia’s largest AI data centers, with an additional capacity of 144 Megawatts (MW), and is expected to commence operations in December 2026. EDGNEX joins recent expansions by PT DCI Indonesia Tbk. (DCII) and the Equinix-Astra partnership, marking a notable surge in data center development over the past two months. Designed with high-density AI racks and a targeted power usage effectiveness (PUE) of 1.32, the facility aims to
support rapid AI adoption and set new standards for next-generation infrastructure. Operating across 11 countries, DAMAC has invested over USD 3 billion in Southeast Asia, reaffirming its commitment to bridging the digital gap in fast growing markets like Indonesia.
AMMN No Dividends for Now as Focus Shifts to Long-Term Expansion
PT Amman Mineral Internasional Tbk. (AMMN) announced that it will not distribute dividends this year, choosing instead to allocate capital toward ongoing development and expansion projects. This decision, delivered after the June 2025 AGM, reflects the company’s strategy to build long-term shareholder value rather than pursue short-term gains. The meeting also marked a leadership transition, with Arief Sidarto appointed as President Director, replacing Alexander Ramlie who now serves as a Commissioner. Meanwhile, Q1 2025 results showed a sharp decline in performance, with net sales plunging 99.65% YoY to USD 2.12M, triggering a 7.62% drop in share price. (Emiten)
BREN Allocates Majority of 2024 Profit to Business Expansion
PT Barito Renewables Energy Tbk (BREN) concluded its Annual General Meeting of Shareholders by allocating 73% of its 2024 net profit, amounting to USD 89.13 million, to fund business operations. From the total net profit of USD 122.1 million, 26% or USD 31.75 million will be distributed as dividends, matching the interim dividend paid in December 2024. The remaining 1%—approximately USD 1.22 million—will be set aside as company reserves. (IDX Channel)
BUKK Expands Exports and Infrastructure Innovation Through Global Projects
PT Bukaka Teknik Utama Tbk (BUKK) exported 215 units of Surface Rescue Platform (SRP) to Oil & Natural Gas Corporation (ONGC) India in 2024, with the potential to expand its business segment, export activities, and strengthen longterm relationships for the company in oil and gas projects in India and its region. In 2024, in the Steel Tower segment, the company achieved a milestone, being the only company in Southeast Asia with a testing tower facility capable of up to 500 kV. This competency has attracted several large companies as premium customers in the steel tower segment, including PT Perusahaan Listrik Negara (Persero), PT Tower Bersama Infrastruktur Tbk, and PT Huawei Tech Investment. Similarly, in the Steel Bridge segment, several project developments use Steel Bridge products made by the Company, and the same goes for the Passenger Boarding Bridge, being the only manufacturer of boarding bridges in Indonesia. BUKK has also produced 13 units to meet the needs of boarding bridges at the National Airport of Samarinda and the IKN, as well as to fulfill the export needs of boarding bridges to Japan. In the future, BUKK will continue to innovate and try to always engage in national strategic programs (PSN) and private initiatives related to infrastructure development.
BUMI to Issue IDR 350B Bonds to Acquire Australian Mining Company
PT Bumi Resources Tbk (BUMI) will issue bonds worth IDR 350 billion. The funds from the bond issuance will be used to finance the acquisition ofWolfram Limited, a company operating in Australia. This bond issuance is part of the company’s plan to release a Sustainable Bond with a total fundraising target of IDR 5 trillion. This corporate action comes after BUMI recently received investors’ approval to reorganize by
eliminating the deficit balance.
CDIA Launches IPO to Raise IDR 2.37T for Port and Fleet Expansion
PT Chandra Daya Investasi Tbk (CDIA) has begun the IPO bookbuilding process from June 19–24,
2025, offering up to 12.48 billion new shares, or 10% of ownership, at a price range of IDR 170–190 per share. The company aims to raise up to IDR 2.37T, with proceeds allocated to expand port and storage infrastructure under Chandra Samudera Port and Chandra Cilegon Port (IDR 1.5T) and strengthen its logistics shipping fleet (IDR 871.76B). The public offering is set for July 2–4, with listing on the IDX scheduled for July 8. Before the IPO, ownership stood at 66.67% (Chandra Asri) and 33.33% (Phoenix Power B.V.), to be diluted to 60% and 30%, respectively. CDIA posted a surge in net profit to USD 32.69M in 2024 from USD 1.89M in 2023. (Emiten)
IMAS to Distribute IDR 15.97B in Dividends
PT Indomobil Sukses Internasional Tbk (IMAS) has announced a cash dividend distribution of IDR 4 per share for the 2024 fiscal year, totaling IDR 15.97B. This decision was approved at the Annual General Meeting of Shareholders (AGMS) held on June 16, 2025. The cum-dividend date on the regular and negotiated markets is set for June 24, 2025, with the dividend payment scheduled for July 18, 2025.
UNTR Acquires Supreme Energy to Expand Renewable Energy Portfolio
PT United Tractors Tbk (UNTR) acquired shares of the geothermal company, PT Supreme Energy
owned by PT Supreme Energy Sriwijaya (SES). This corporate action was carried out through its subsidiary, PT Energia Prima Nusantara (EPN) on June 18, 2025. EPN will acquire 780,462,878 shares of Supreme from SES for USD 19.17 million (equivalent to IDR 311.65 billion). The purpose of this transaction is to support the company’s diversification strategy, particularly in the development of renewable energy-based power
plants in Indonesia. UNTR emphasized that the signing of the sale and purchase agreement (PJB) will not have a material impact on the company’s operations, legal status, or current financial condition.
