Transformation of SOE Ministry Annual Report 2020
CHAPTER 1 234 5
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SOE ROADMAP & TRANSFORMATION
MINISTRY OF STATE-OWNED ENTERPRISES
ANNUAL REPORT 2020
The mineral and coal down-streaming initiatives,
especially nickel, have received positive response from
foreign investors. Contemporary Amperex Technology
Co. Ltd. (CATL) from China and LG Chem Ltd from
Korea, two of the world's largest electric vehicle (EV)
battery manufacturers, signaled their interest in joining
an investment project worth more than USD20 billion to
develop nickel supply chains in Indonesia.
The development of the EV Battery ecosystem by SOES
will create added value of USD2.5 billion to the economy,
attract investment of USD4-7 billion, potential foreign
exchange earnings of USD1-3 billion per year, taxes of
around USD1 billion per year, and employment for up to
16,000 people.
OIL AND PETROCHEMICAL REFINERY
DEVELOPMENT
The oil and petrochemical refinery development is a
National Strategic Project as stipulated in the Presidential
Regulation of the Republic of Indonesia No. 109/2020. The
goal is to realize national energy sovereignty by building
an integrated oil refinery with petrochemicals to support
regional and national economic growth through the
multiplier effect of project implementation.
BATANG INTEGRATED INDUSTRIAL ESTATE
C
Signing of Share Purchase Agreement and
Offlake Frawark Agreen Lot PT Vale onesia Tbk
The Signing of Share Purcase Agreement for the Acquisition of Shares
Divestment of PTVI between the President Director of MIND ID and
President Director of PTVI witnessed by the Minister of SOED and
Minister of ESDM
The Batang Integrated Industrial Estate (KITB) is located
in Pekalongan City, Batang District, and Pekalongan
District. KITB is expected to support and provide added
value to economic development in the three main
corridors of development in Central Java (Kedungsepur,
Purwomanggung, and Bergasmalang Region). PT
Wijayakusuma Industrial Estate (Persero), PT Perkebunan
Nusantara IX and PT Pembangunan Perumahan (Persero)
Tbk, has signed a Memorandum of Understanding on KITB
Development on 30 June 2020. Subsequently, they will
form a new business entity or establish a subsidiary and/
or joint venture to work as the developer and manager of
KITB, in collaboration with the Batang District Government
through a regional government-owned enterprise
engaged in various businesses (Perusahaan Daerah
Aneka Usaha). PT KITB was formed on 11 December 2020.
Currently, the basic infrastructure development process is
being carried out with the State Budget from the relevant
Ministries.
DIVESTMENT SHARE ACQUISITION OF
PT VALE INDONESIA TBK
Mining Industry Indonesia (MIND ID) with the majority
shareholders of PT Vale Indonesia Tbk (PTVI), namely Vale
Canada Limited (VCL) and Sumitomo Metal Mining Co.,
Ltd. (SMM), had completed the transaction to purchase
20% of PTVI's divested shares on 7 October 2020. VCL has
sold 14.9% of its shares and SMM of 5.1% for Rp2,780/share
or Rp5.52 trillion. With the completion of the transaction,
the share ownership in PTVI changed to 44.3% VCL, 20%
MIND ID, 15% SMM, and 20.7% public.
The completion of this transaction marked the start of a
long-term strategic cooperation between MIND ID and
PTVI. The government appointed PT Indonesia Asahan
Aluminum (Persero), better known as MIND ID, as the
Government's representative in the implementation of this
share divestment. The divestment of 20% of PTVI's shares
is a commitment based on the 2014 Contract of Work
amendment between PTVI and the Government of the
Republic of Indonesia.
INVESTMENT IN GOJEK
On 16 November 2020, Telkomsel invested USD150
million in Gojek and later put an additional investment
of USD300 million on 21 May 2021. The investment is part
of Telkomsel's strategy to provide beyond connectivity
services. Telkom believes that collaboration and synergy
with one of the largest digital companies in Indonesia can
accelerate Telkom's transformation into a digital telco
company, providing the best services and solutions to the
community in building an inclusive and sustainable digital
ecosystem.
This is also in line with the role of the Telkom Group to
open more opportunities for the public to gain access to
online platforms that are closer, customer centric, and
have a positive impact on people's lives and accelerate
Indonesia's economic growth.
Tekom Indonesia
gojek
TELKOMSEL
ACQUISITION OF INDOMETAL CORPORATION (ASIA PACIFIC) PTE. LTD
(INDOMETAL SINGAPORE)
MIND ID and Indometal (London) Limited signed a Sale
& Purchase Agreement on 29 June 2020. This transaction
marked MIND ID's 100% acquisition of Indometal
Singapore's shares. MIND ID for a total amount of
US$398,500.
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RESILIENCE AMIDST UNCERTAINTY
RESILIENCE AMIDST UNCERTAINTY
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