16 Cooperation Agreements Signed at SOE Conference

The State-Owned Enterprise (SOE) International Conference, a side event of the Indonesian G20 Presidency in Nusa Dua, saw the signing of sixteen cooperation agreements on the final day of the conference, according to Antara News.

Deputy Minister of SOEs I, Pahala Mansury, said that sixteen agreements were signed in one day, “in the energy sector, for example, one of the most important was between PLN (state electricity company) and PT Bukit Asam (PTBA),” he said at the SOE international conference press briefing in Nusa Dua, Bali.

The two enterprises will explore the possibility of pursuing the completion or retirement of the coal-fired power plant owned by PLN and investing in PTBA, he added.

PLN has also signed a cooperation agreement with PT Sarana Multi Infrastruktur (Persero) or SMI on blended financing for the energy transition mechanism (ETM), claim Antara News.

“We expect that this can be a model, and this shows the commitment of Indonesia, especially SOEs, in showcasing that SOEs, and Indonesia too, are also very serious in ensuring that we will also enter an energy transition period. We are exploring as many possibilities as possible for that and we see one of them must be done and cannot be done alone,” Mansury remarked.

Another cooperation agreement was signed by Pertamina Power and Krakatau Steel and IGNIS Energy Holdings. IGNIS is a company that has the technology to produce green hydrogen.

“So far, one of the products needed to produce steel is hydrogen. This is also what we are trying to do; that is not just any hydrogen, but green hydrogen, which we will develop there,” he informed.

Yet another cooperation agreement was inked in the medical sector between Kimia Farma and IHH, a health group with presence in Singapore and Malaysia. The two will develop a diagnostic test center that is currently owned by Kimia Farma.

The deputy minister further said that cooperation on voluntary carbon credit trading was also signed at the conference.

Each SOE produces carbon credits. Currently, the ministry is carrying out what is called voluntary carbon credit trading.

“We are just testing it, but at least we have signed a Letter of Intent (LOI). We will gauge one SOE with another. How to make it so that if the one with carbon credit, for example, Perhutani, (that has credit) can be bought by another SOE or a subsidiary of another SOE that really needs it. The carbon credit is to achieve the emission reduction target,” he elaborated.

Source: Antara News

Latest Article
Minister: Downstreaming Leads to a Golden Indonesia
Speaking at a public lecture at the State Institute of Public Administration (IPDN) in Sumedang, West...
Indonesia Looks to Complete ICA-CEPA by Year-End
Indonesia’s Trade Minister Zulkifli Hasan is targeting to complete the Indonesia-Canada Comprehensive...
Minister Urges TikTok to Invest More
According to reporting from Tempo, Indonesia’s Minister of State-Owned Enterprises (SOE), Erick...
Indonesian Economy Grows 5.11%, Top 5 in G20
Indonesia’s economy is doing well. It grew at a healthy 5.11% in the first quarter of 2024, compared...
Indonesia’s Property Sector is Predicted to Improve under New Administration
Indonesia’s property market has a history of riding economic waves and it is poised for a potential...

Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

Contact Our Consultants

Ridwan Jasin Zachrie

CFO of Seven Stones Indonesia, Jakarta

Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

He’s a member of the Board of Trustees of the Alumni Association of the Faculty of Law, Trisakti University, Co-Founder of the Paramadina Public Policy Institute and actively writes books, publications and articles in the mass media. He co-authored “Korupsi Mengorupsi Indonesia” in 2009, which helps those with an interest in understanding governance in Indonesia and the critical issue of corruption. Ridwan speaks Indonesian and English.

Per Fredrik Ecker

Managing Director of Seven Stones Indonesia, Jakarta

Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

His most recent experience is within Intelligent Transport Solutions (ITS), Telecom, and other sectors within the Indonesian market. He is today through his position in SSI and by representing Norway Connect, promoting Nordic and European companies that would like to explore business opportunities in the Indonesian market. He’s also playing an active role to help create the Nordic House concept in Jakarta that will provide an excellent platform for Nordic companies entering Indonesia, where they’ll find a community that can offer support with trusted information and affordable services to enter this market.