Indonesia Strengthened Cooperation with China and Russia

MACROECONOMY
Indonesia Strengthened Cooperation with China and Russia
On 03 Sep-25, President Prabowo met President Xi Jinping in Beijing to discuss potential cooperation on the giant sea wall project along Java’s north coast. Earlier, he held talks with President Putin to strengthen Indonesia–Russia strategic ties, particularly in economy and investment. The visit was part of the 80th Anniversary of the Chinese People’s War of Resistance celebration. (Kontan)

COMPANY
Japfa Comfeed Indonesia (JPFA) Allocated IDR 930 Bn Capex in 1H25
In 1H25, JPFA posted net sales of IDR 27.5 tn, slightly down from IDR 27.7 tn in 1H24, while operating profit fell to IDR 2.1 tn from IDR 2.6 tn, and EBITDA decreased to IDR 2.7 tn from IDR 3.2 tn. Capex absorption reached IDR 930 bn, up from IDR 720 bn in 2024, mainly for digitalization programs across operations to boost productivity and efficiency. (Emitennews)

Semen Indonesia (SMGR) Supplied 19,000 Tons of Cement for LRT Velodrome–Manggarai Project
SMGR supplied 19,190 tons of cement as of Jul-25 to support the construction of the LRT Phase 1B Velodrome–Manggarai route, part of the National Strategic Project to strengthen multimodal transport connectivity in Jakarta. The project, which includes five stations integrated with Manggarai Central Station and Transjakarta, uses SMGR’s UltraPro and SprintPro cement products for pile foundations and pile cap structures. (Kontan)

Merdeka Battery Materials (MBMA) Provided IDR 1.8 tn Mudharabah Financing to Subsidiary
MBMA provided ~IDR 1.8 tn mudharabah financing to its subsidiary, PT Merdeka Tsingshan Indonesia, to repay part of its previous loan facility. The transaction was a follow-up to the sukuk issuance proceeds of ~IDR 1.8 tn completed on 20 Aug-25. (Company)