Latest news with #RosanRoeslani
South China Morning Post
6 days ago
- Business
- South China Morning Post
Danantara's potential Blackrock tie faces backlash over clash with Indonesia's Gaza stance
Indonesia 's sovereign wealth fund has come under fire for its potential tie-up with BlackRock, as critics warn the US investment giant's links to arms firms supplying Israel's military risk compromising Jakarta's pro-Palestinian foreign policy and undermining its constitutional stance against colonialism. Daya Anagata Nusantara, or Danantara, was launched in February to manage nearly US$900 billion in state assets, increase dividend yields and attract foreign capital. As part of that effort, Danantara chief executive Rosan Roeslani met senior BlackRock executives, including president and founding partner Raj Rao and senior managing directors Bayo Ogunlesi and Charles Hatami, in New York on May 13. The potential tie-up 'reflects the synergy between Indonesia's development priorities and BlackRock's global strengths in asset management, energy transition financing, and digital infrastructure', Rosan, who is also Indonesia's minister of investment and downstreaming, said in an Instagram post on May 14. 'As the world's largest investment firm with total Assets Under Management of more than US$11 trillion, [the partnership with] BlackRock demonstrates global investors' confidence in our strong economic prospects, while also opening up opportunities to attract more foreign investment to Indonesia.'
The Star
30-04-2025
- Business
- The Star
Foreign investment rises 12% in first quarter
Still growing: A major construction project in Jakarta's business district. Singapore was the source of the highest amount of FDI in Indonesia in the first quarter. — AFP JAKARTA: Indonesia has seen respectable growth in foreign direct investment (FDI) in the first quarter of this year as realised funding reached a quarter of the government's full-year target, while domestic investment grew even faster. Investment and Downstream Minister Rosan Roeslani revealed in a press briefing on Tuesday that the first-quarter FDI amounted to 230.4 trillion rupiah or about US$13.7bil, which marks a 12% year-on-year (y-o-y) increase. 'This was one of the very, very good indicators, very, very positive amid – what we all could see – the increasing geopolitical and geo-economic tensions. But, we see that the appetite of investors, be they foreign or domestic, to invest in Indonesia keeps increasing,' said Rosan. He pointed out that the composition between domestic and foreign investment in the first quarter was unusual in that the domestic investment of 234.8 trillion rupiah outstripped FDI. Rosan argued that this was not because FDI had slowed down, as in fact it had risen, but because the growth of domestic investment at 19.1% y-o-y outpaced the growth of FDI thanks to Indonesians pouring lots of funds into infrastructure projects and real estate. Total investment logged in the first quarter was 465 trillion rupiah, which marks a 15.9% increase from the first quarter of last year. That figure amounts to 24.4% of this year's investment target of 1.9 quadrillion rupiah, which Rosan said last week was on track with the target laid down by the National Development Planning Agency. The largest chunk of the investment went to the metals sector, followed by transportation, mining, other services and housing, in that order. With US$4.6bil coming in from Singapore in the first quarter, the city state was once again the main source of FDI, which Rosan attributed to its status as a financial hub, meaning the funds could have originated from any country but was routed through Singapore. China followed with US$4bil, then Malaysia with US$1bil and Japan with roughly the same amount. Malaysia has only recently become a top-ranking investor to Indonesia. This was owed largely to the establishment of joint ventures, Rosan explained, without elaborating. The minister also addressed South Korean LG Energy Solution's recent announcement on withdrawing from a major battery project in Indonesia but noted that the company remained invested in the archipelago through other projects. He explained that the company had backed down from three investment commitments but had realised a US$1.1bil investment plan in another battery-industry project and was looking to expand that business by pouring in an extra US$1.7bil. China's Zhejiang Huayou Cobalt is slated to replace LG Energy Solution as the lead investor in Project Titan, a proposed end-to-end production chain from nickel processing to battery-cell manufacturing meant to become the backbone of the country's battery ecosystem. Rosan said he had met and talked with Huayou and would hold follow-up meetings in May. The minister expressed confidence that Huayou's investment plan would be realised 'very swiftly', before explaining that the original goal remained the same but that the Chinese company might bring in more advanced technology. He also revealed that Apple had started land clearing to begin its investment in Batam, Riau Islands, and said the US-tech company might bring more foreign capital to Indonesian soil than planned. Rosan said he had talked with three Apple vendors, one of whom happened to be Huayou. — The Jakarta Post/ANN
Malaysia Sun
29-04-2025
- Business
- Malaysia Sun
Indonesia's foreign direct investment grows 12.7 pct in Q1 2025
JAKARTA, April 29 (Xinhua) -- Foreign direct investment (FDI) in Indonesia grew by 12.7 percent year-on-year to 230.4 trillion rupiahs (13.8 billion U.S. dollars) in the first quarter of 2025, Investment and Downstreaming Minister Rosan Roeslani announced on Tuesday. "Foreign direct investment continued to rise," the minister said during a press conference at his office, referring to the January-March period. Rosan noted that Singapore was the most significant contributor to FDI growth in the first quarter, with investments worth 4.6 billion U.S. dollars, followed by China's Hong Kong (2.2 billion U.S. dollars), China (1.8 billion U.S. dollars), Malaysia (1.0 billion U.S. dollars), and the United States (1.0 billion U.S. dollars). He attributed the FDI expansion to increased investments in key sectors, including the basic metal industry, metal goods, machinery and equipment, transportation, telecommunications, warehousing, mining, other services, housing, and industrial and office areas.
Yahoo
29-04-2025
- Business
- Yahoo
Indonesia minister says LG to invest another $1.7 billion in battery factory
JAKARTA (Reuters) - South Korea's LG group remains committed to Indonesia and will increase its investment in a battery cell factory by $1.7 billion, raising total investment in the project to $2.8 billion, Indonesia's investment minister said on Tuesday. The comment from minister Rosan Roeslani follows confirmation last week that LG Energy Solution, or LGES, has withdrawn from another venture in Indonesia, a 142 trillion rupiah ($8.46 billion) project in the EV battery supply chain, citing market conditions and the investment environment. "The commitment from LG remains big, a concrete example is that they will invest in the development of this JV," he told a press conference, referring to a battery plant in West Java. LG last week said it will continue its investment in a battery joint venture, HLI Green Power, led by LGES and Hyundai Motor Group. LGES did not immediately respond to request for comment on Tuesday. Last year the JV inaugurated Indonesia's first battery cell production plant with an annual capacity of 10 gigawatt hours and said will embark on second phase of investment. China's Zhejiang Huayou Cobalt will replace LGES in the project from which it has withdrawn, Indonesia has said. ($1 = 16,792.0000 rupiah) Sign in to access your portfolio
Reuters
29-04-2025
- Business
- Reuters
Indonesia minister says LG to invest another $1.7 billion in battery factory
JAKARTA, April 29 (Reuters) - South Korea's LG group remains committed to Indonesia and will increase its investment in a battery cell factory by $1.7 billion, raising total investment in the project to $2.8 billion, Indonesia's investment minister said on Tuesday. The comment from minister Rosan Roeslani follows confirmation last week that LG Energy Solution, or LGES, has withdrawn from another venture in Indonesia, a 142 trillion rupiah ($8.46 billion) project in the EV battery supply chain, citing market conditions and the investment environment. "The commitment from LG remains big, a concrete example is that they will invest in the development of this JV," he told a press conference, referring to a battery plant in West Java. LG last week said it will continue its investment in a battery joint venture, HLI Green Power, led by LGES and Hyundai Motor Group. LGES did not immediately respond to request for comment on Tuesday. Last year the JV inaugurated Indonesia's first battery cell production plant with an annual capacity of 10 gigawatt hours and said will embark on second phase of investment. China's Zhejiang Huayou Cobalt ( opens new tab will replace LGES in the project from which it has withdrawn, Indonesia has said. ($1 = 16,792.0000 rupiah)
