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☆ Microsoft to invest $1.7 billion into AI infrastructure in Indonesia, CEO Satya Nadella says
▼ + stars: | 2024-04-30 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Microsoft CEO Satya Nadella (C) arrives for a meeting with Indonesia's President Joko Widodo at the Merdeka Palace in Jakarta on April 30, 2024. The announcement came as CEO Satya Nadella met with Indonesian President Joko Widodo on the same day. "This new generation of AI is reshaping how people live and work everywhere, including in Indonesia," Nadella, chairman and CEO of Microsoft, said in a statement. Microsoft also said it will partner with governments, organizations and communities to provide AI skilling opportunities for 2.5 million people in Association of Southeast Asian Nations member states by 2025. Nadella met with Jokowi in Jakarta on Tuesday to discuss topics including technological and AI breakthroughs that will help Indonesia progress, according to Indonesian news agency Antara.

Persons: Satya Nadella, Joko Widodo, ISMOYO, Nadella Organizations: Getty, Microsoft, Indonesian, Association of Southeast Asian Nations, Jokowi, Antara Locations: Jakarta, AFP, Indonesia, Golden Indonesia

☆ Apple will 'look at' manufacturing in Indonesia, CEO Cook says, as China diversification push continues
▼ + stars: | 2024-04-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Apple CEO Tim Cook gestures as he arrives for a meeting with Indonesia's President Joko Widodo at the Merdeka Palace in Jakarta on April 17, 2024. Apple CEO Tim Cook said the company will "look at" manufacturing in Indonesia, following a meeting with the country's President Joko Widodo, at a time when the iPhone giant continues to diversify its supply chain away from China. "We talked about the president's desire to see manufacturing in the country and it's something that we will look at," Cook told reporters after the meeting. "I think the investment ability in Indonesia is endless. Over the past three years, Apple has been accelerating its push to diversify its manufacturing base beyond China after the Covid-19 pandemic exposed the Cupertino giant's reliance on the world's second-largest economy.

Persons: Tim Cook, Joko Widodo, Cook Organizations: Apple Locations: Jakarta, Indonesia, China, Cupertino

☆ The new architecture set to shape the world in 2024
▼ + stars: | 2024-01-10 | by ( Oscar Holland | ) edition.cnn.com time to read: +11 min

Kéré’s Berlin-based firm says the building’s top-heavy appearance was inspired by the palaver tree, which traditionally served as a meeting place. Designed for developer s2e Technologies by US architecture firm Gensler, the four circular residential structures can accommodate a combined 84 households. But it is perhaps Bjarke Ingels, founder of Danish design firm BIG, that has had the greatest impact on the city’s once modest skyline. The first restored sections are set to be ready in time for this summer’s Paris Olympics. Norwegian architecture firm Snøhetta and local practice Blight Rayner — who together beat more than 20 entries in an international competition — say that the design was inspired by the flow of the Brisbane River.

Persons: David Chipperfield, Francis Kéré, Kéré, China Stefano Boeri, Bosco, Stefano Boeri, Mestres Wåge, Nicolai Tangen, NBBJ, Dror, EPIQ, Ecuador Uribe Schwarzkopf, Bjarke, Moshe Safdie, Jean Nouvel, Ma Yansong, Ingels, France Chatillon Architectes, Notre Dame isn’t, Chatillon, Nikken Sekkei, ”, “, Blight Rayner —, Aunty Lilla Watson Organizations: CNN, superlatives, Malaysia’s, Benin National Assembly, Forest, Kunstsilo, Keppel South, Enclave, s2e Technologies, Bjarke Ingels, BIG, UNESCO, Heritage, Notre Dame, Palais, Beaux -, Chatillon Architects, UAE Kerzner, United, “ Michelin, New York Times, Gang, Queensland Performing Arts Centre, Queensland Performing Arts Locations: India, Benin, Porto, Novo, Burkina Faso, Kéré’s Berlin, Nanjing, China, Milan, Italy, Europe, China’s, Kristiansand, Norway, Norwegian, Keppel, Keppel South Central, Singapore, London, Canada, London , Ontario, Quito, Ecuador, Bjarke Ingels Quito, Parque La Carolina, Paris, France, Dubai, UAE, United Arab Emirates, Hotel, Denver, USA, Denver , Colorado, Urban, Brisbane, Australia, Australian

☆ Malaysia's Permodalan Nasional weighs $2.15 bln automakers merger in EV push - sources
▼ + stars: | 2023-08-24 | by ( Yantoultra Ngui | Thomson Reuters | Yantoultra Ngui Is A Southeast Asia Deals Correspondent With Reuters In Singapore | ) www.reuters.com time to read: +2 min

PNB holds 60.6% of industrial group UMW Holdings (UMWS.KL), which in turn owns 38% of Perodua, the country's biggest automaker by market share. PNB, Sime Darby, UMW and Perodua declined to comment. Elsewhere in Southeast Asia, Vietnam has EV maker VinFast , while Indonesia has nickel producers including Merdeka Battery (MBMA.JK) and Trimegah Bangun (NCKL.JK) supplying the key battery metal in the global EV supply chain. Sime Darby Motor has been pushing for the adoption of EVs in Malaysia. Perodua is also eyeing breaking into the EV market and embarked last year on a study to build its first hybrid vehicle.

Persons: Otomobil, Sime Darby, PNB, Trimegah, Yantoultra Ngui, Tom Hogue, Sonali Paul Organizations: Malaysia EV, EV, Sime Darby, Permodalan, Darby Motors, State, Sime, Sime Darby Motors, UMW Holdings, country's, Daihatsu, MBM Resources, Mitsui & Co, VinFast, Merdeka, Sime Darby Motor, Thomson Locations: Malaysia, Malaysia SINGAPORE, Permodalan Nasional, Malaysian, Southeast Asia, Perodua's, Perodua, UMW, Vietnam, Indonesia, The Selangor, Peninsular Malaysia

KUALA LUMPUR, Aug 12 (Reuters) - Malaysians in six states headed to the polls on Saturday in regional elections seen as a major test of support for Prime Minister Anwar Ibrahim's nine-month old administration. Perikatan, led by former prime minister Muhyiddin Yassin, made significant inroads in the Malay heartlands in the last national election in November 2022. [1/3]A woman casts her ballot paper during a state election at Selayang, Malaysia August 12, 2023. Critics, however, have raised concerns over increasing government scrutiny on online content and growing intolerance against the country's LGBTQ community. Anwar has said LGBTQ rights will not be recognised by his administration.

Persons: Anwar Ibrahim's, Pakatan Harapan, Muhyiddin Yassin, Anwar, Hasnoor Hussain, Zainal, Anwar's, Rozanna Latiff, Raju Gopalakrishnan Organizations: Perikatan, United Malays National Organisation, REUTERS, Merdeka Centre, Ilham, Reuters, Thomson Locations: KUALA LUMPUR, Selangor, Penang, Negeri Sembilan, Kelantan, Terengganu, Kedah, Perikatan Nasional, Malay, Selayang, Malaysia

☆ Southeast Asia's IPO market is an investor favorite amid global headwinds, Deloitte says
▼ + stars: | 2023-07-07 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

Firdaus Wajidi | Anadolu Agency | Getty ImagesSoutheast Asia's initial public offering market is showing promising signs despite a global IPO slowdown in the first half of 2023, according to a new Deloitte report. In the last six months, Southeast Asia's market saw 85 IPOs raising $3.3 billion in proceeds, versus the 73 IPOs in the same period last year which raised $3.1 billion. That's a 16% increase in the number of IPOs and a 5% increase in proceeds for the first half of 2023. Indonesia's rising starIndonesia raised 70% of the total IPO proceeds in Southeast Asia for the first half of 2023. Indonesia "looks set to have its best year ever in terms of listing proceeds with 44 IPOs in 2023 H1," said Deloitte.

Persons: Firdaus, — GoTo, Joko Widodo, Harita Nickel Organizations: Anadolu Agency, Getty, Deloitte, Nasdaq, EV, PT Merdeka Battery Materials, Pertamina Geothermal, Indonesia, Harita Locations: JAKARTA, INDONESIA, Jakarta, Indonesia, Southeast Asia, Australia, Thailand, Malaysia, China

JAKARTA, May 3 (Reuters) - Indonesia has cut tax incentives to limit investment in lower quality nickel products as it aims to extract as much value as possible from its rich nickel reserves and push for further downstream investment, a cabinet minister said on Wednesday. Investment Minister Bahlil Lahadalia said the government will no longer provide tax holidays for investment into NPI. "Downstreaming must at least reach 60% to 70% nickel content in Indonesia and not only for intermediate products," Bahlil said in an interview with Reuters. The International Nickel Study Group (INSG) is forecasting a surplus of 239,000 tonnes, the largest in at least a decade. Merdeka currently has capacity of 38,000 tonnes of NPI and a third smelter with 50,000 tonnes capacity is expected to start operations in the second half of the year.

JAKARTA, May 3 (Reuters) - Indonesia has cut tax incentives to limit investment in lower quality nickel products as it aims to extract as much value as possible from its rich nickel reserves and push for further downstream investment, a cabinet minister said on Wednesday. Since banning nickel ore exports in 2020, Indonesia has seen a surge in investment into smelters but most output is ferronickel or nickel pig iron (NPI), used in stainless steel, that typically only contains 30% to 40% of nickel. Investment Minister Bahlil Lahadalia said the government will no longer provide tax holidays for investment into NPI. "NPI investment can reach break even in four to five years, why would we give 10-year tax holidays? Merdeka currently has capacity of 38,000 tonnes of NPI and a third smelter with 50,000 tonnes capacity is expected to start operations in the second half of the year.

☆ Investors can't miss Merdeka Battery, BofA says
▼ + stars: | 2023-04-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors can't miss Merdeka Battery, BofA saysSunil Khaitan of the investment bank discusses the nickel producer's initial public offering and how Indonesia is positioning itself in the global electric vehicle value chain.

☆ Volkswagen to partner on Indonesia EV battery ecosystem -minister
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +3 min

JAKARTA, April 17 (Reuters) - Volkswagen will build an electric vehicle (EV) battery ecosystem in Indonesia and will partner with miner Vale, Ford and China's battery minerals producer Zhejiang Huayou Cobalt, the Southeast Asian country's investment minister said. Minister Bahlil Lahadalia said on Sunday that Volkswagen, Europe's biggest automaker, will work with Vale, Ford, Huayou, French miner Eramet and several Indonesian firms such as Merdeka Gold Copper, the parent company of Merdeka Battery, and energy firm Kalla Group. Volkswagen, Ford, Eramet, Kalla Group, Huayou, and Merdeka Gold Copper did not immediately respond to requests for comment. PT Vale Indonesia declined to comment. Last month, Ford (F.N) inked its first investment in Indonesia by joining Vale Indonesia and Huayou in a $4.5 billion nickel processing plant in Southeast Sulawesi.

☆ Volkswagen to partner with Vale, Ford, Huayou on Indonesia EV battery ecosystem -minister
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, April 17 (Reuters) - Volkswagen will build an electric vehicle (EV) battery ecosystem in Indonesia and will partner with miner Vale, Ford and China's battery minerals producer Zhejiang Huayou Cobalt, the Southeast Asian country's investment minister said. Minister Bahlil Lahadalia said in a video statement Volkswagen, Europe's biggest automaker, will work with Vale, Ford, Huayou, French miner Eramet and several Indonesian firms such as Merdeka Gold Copper, the parent company of Merdeka Battery, and energy firm Kalla Group. Volkswagen, Ford, Eramet, Merdeka Battery, Kalla Group, Merdeka Gold Copper did not immediately respond to requests for comment. PT Vale Indonesia declined to comment. Last month, Ford (F.N) inked its first investment in Indonesia by joining Vale Indonesia and Huayou in a $4.5 billion nickel processing plant in Pomalaa in Southeast Sulawesi, where Vale operates a nickel mine.

The firm debut by Harita Nickel could boost sentiment surrounding upcoming IPOs in Indonesia, which is one of the world's hottest IPO markets this year on a drive by the government to privatise some state-owned enterprises. Harita Nickel's stock opened at 1,285 rupiah per share, slightly higher than its initial public offering (IPO) price of 1,250 rupiah a share, on the Indonesian stock exchange. The IPO comes at a time when nickel-rich Indonesia steps up efforts to become a major player in the electric vehicle industry. Harita Nickel's peer Merdeka Battery Materials is scheduled to debut on the local bourse next, on April 18, after raising 8.75 trillion rupiah. Harita Nickel's IPO was the largest in Indonesia in almost a year after the $1.1 billion listing of tech firm GoTo (GOTO.JK) in April.

☆ Harita Nickel, Indonesia's biggest IPO this year, debuts higher
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: 1 min

A worker displays mixed hydroxide precipitate blocks at a nickel processing facility operated by Harita Nickel on Obi Island, North Maluku, Indonesia on March 7, 2023. Indonesian nickel company Trimegah Bangun Persada, also known as Harita Nickel, opened higher in its trading debut on Wednesday after raising 10 trillion rupiah ($672 million) in the country's biggest listing this year. The stock opened 1,285 rupiah per share, slightly higher than its initial public offering (IPO) price of 1,250 rupiah a share on the Indonesian stock exchange. The IPO comes at a time when nickel-rich Indonesia steps up efforts to become a major player in the electric vehicle industry. Harita Nickel's peer Merdeka Battery Materials is scheduled to debut on the local bourse next on April 18 after raising 8.75 trillion rupiah.

☆ Want to play soaring gold prices? These stocks are seen rising by at least 20%
▼ + stars: | 2023-04-07 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Gold prices are up about 10% this year and traded around $2,020 an ounce at one point on Thursday. For investors looking to cash on potentially higher gold prices, CNBC Pro screened FactSet for stocks in the Global X Gold Explorers ETF , the iShares MSCI Global Gold Miners ETF , the VanEck Gold Miners ETF , and the SPDR S & P Metals and Mining ETF . The company's gold mining operations are in Western Australia, where it aims to produce 185,000 to 205,000 ounces of gold annually by 2024. Analysts give British mining firm Hochschild Mining potential upside of 32.8%, according to FactSet data. Other stocks that made the screen include Australia's Silver Lake Resources , Indonesia's PT Merdeka Copper Gold, Endeavour Mining and B2Gold .

☆ Indonesia's Merdeka Battery plans to build two nickel HPAL plants
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

Companies Merdeka Copper Gold Tbk PT FollowJAKARTA, March 30 (Reuters) - Indonesia's Merdeka Battery Materials plans to build two nickel processing plants to make products used in batteries for electric vehicles with a combined capacity of 240,000 tonnes, its chief executive said on Thursday. "We are planning to build two HPAL plants with 120,000 tonnes capacity each," Devin said, adding China's stainless steel giant Tsingshan Holding Group will be a strategic partner to develop an industrial park to house the HPAL projects. Development of the initial 60,000 tonnes capacity of the firs HPAL plant is underway, with $1.28 billion investment, and it is expected to start operations in 2025, he said. The company is now in negotiation with a potential partner for the second HPAL plant. Merdeka Battery would be the second nickel company to launch an IPO in Indonesia this year after PT Trimegah Bangun Persada, which is expected to raise $647 million through the shares sale.

☆ Maybank says it likes these stocks in Indonesia's metals sector
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMaybank says it likes these stocks in Indonesia's metals sectorRichard Suherman of Maybank Sekuritas discusses why it likes Vale Indonesia and Merdeka Copper Gold.

☆ Malaysia votes in general election, Anwar seen leading tight race
▼ + stars: | 2022-11-19 | by ( A. Ananthalakshmi | Rozanna Latiff | ) www.reuters.com time to read: +5 min

Malaysian Caretaker Prime Minister Ismail Sabri Yaakob stands in a line to vote during Malaysia's 15th general election in Bera, Pahang, Malaysia November 19, 2022. Prime Minister Ismail Sabri Yaakob’s ruling Barisan coalition and another bloc led by former premier Muhyiddin Yassin are other leading contenders. Muhyiddin’s alliance was a junior partner in Ismail’s coalition government, and the two could come together again to block Anwar. That was on par with turnout at the same time in the previous election in 2018, reflecting the increase in voters, political analyst Bridget Welsh told Reuters. Anwar was the top choice for prime minister at 33%, followed by Muhyiddin at 26% and Ismail at 17% in the Merdeka survey.

☆ Malaysia votes in general election, Anwar expected to lead tight race
▼ + stars: | 2022-11-19 | by ( A. Ananthalakshmi | Rozanna Latiff | ) www.reuters.com time to read: +4 min

Malaysians queue to cast their vote for the country's general election at Permatang Pauh, Penang, Malaysia November 19, 2022. Without a clear winner, political uncertainty could persist as Malaysia faces slowing economic growth and rising inflation. “I don’t think it is possible for any coalition to win on their own,” said Sivamurugan Pandian, political analyst at Malaysia Science University. Anwar was the top choice for prime minister at 33%, followed by Muhyiddin at 26% and Ismail at 17%. Sheila Supramaniam, 30, said she will vote for Anwar as his coalition stood firmly against corruption and discrimination.

☆ Ahead of Malaysia's elections, political rivals battle over corruption and 1MDB scandal
▼ + stars: | 2022-11-18 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +4 min

watch nowMalaysia's nationalist UMNO party said its rivals are driving a "campaign of fear" against the ruling Barisan Nasional coalition in the lead-up to Saturday's elections and this could cost Malaysians. UMNO is part of the Barisan Nasional coalition. "I'm not at all denying that there are issues around integrity in our political system and this applies to all political parties." Corruption allegations against Najib led to the the long-standing ruling coalition Barisan Nasional being ousted from power in the last election in 2018, ending its 60-year political dominance in the Southeast Asian country. "Top leaders in our party are still facing court cases; now could you have said that for the time when Mahathir was prime minister?

☆ Young Malaysians urged to 'get mad' and vote to end political merry-go-round
▼ + stars: | 2022-11-17 | by ( Ebrahim Harris | ) www.reuters.com time to read: +4 min

The infighting has exhausted voters, with two local elections held in the past year seeing lower than average turnout. Young voters form a sizeable portion of the six million people newly eligible to cast a ballot, following reforms that lowered the voting age from 21 to 18 and allowed automatic registration. Some voters, however, remain turned off by the constant political wrangling, believing that their choices will have little impact. "I'm scared to vote because whoever you choose will be part of a weak coalition," Eddie said. "They have to form alliances with parties who were rejected in the elections, and will end up forming the same type of government."

KUALA LUMPUR, Nov 18 (Reuters) - Anwar Ibrahim has ramped up campaigning this week to be Malaysia's prime minister, buoyed by polls putting the veteran opposition leader ahead in a closely fought contest. Rival alliances, including those run by Prime Minister Ismail Sabri Yaakob and former premier Muhyiddin Yassin, could come together to clinch the required numbers and deny Anwar the top job. "This election is not about changing the prime minister," Anwar said in an address on Thursday. "This election is the best chance to save the country and make sweeping changes to restore our beloved nation." In an interview with Reuters this month, Anwar ruled out working with Ismail and Muhyiddin's coalitions, citing "fundamental differences" over race and religion.

TAMBUN, Malaysia, Nov 7 (Reuters) - After two decades as opposition leader, Malaysia's Anwar Ibrahim was poised to finally become prime minister in 2020. There are several other parties in the running, including one founded by another former prime minister Mahathir Mohamad, a factor that is expected to split the votes more than ever before. Mahathir became prime minister and promised to hand over power to Anwar in two years. Anwar's wife took over as deputy prime minister, but the coalition collapsed in 22 months due to infighting over the transition. Muhyiddin briefly became prime minister but Barisan came back to power in 2021 with Ismail at the helm as part of another alliance.

[1/5] The supporters of The National Front coalition, Barisan Nasional, shout slogans outside a nomination centre on nomination day in Bera, Pahang, Malaysia November 5, 2022. REUTERS/Lai Seng SinKUALA LUMPUR, Nov 5 (Reuters) - Malaysian political leaders began their election campaigning on Saturday for what is set to be a close race, with incumbent Prime Minister Ismail Sabri facing off with veterans Anwar Ibrahim and Muhyiddin Yassin. The election comes as the Malaysian economy is expected to ease due to a global slowdown, impeding a recovery from a pandemic-induced slump. Inflation is also rising, with the Malaysian central bank increasing interest rates this week for the fourth straight time. The leaders are not working together in this election.

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