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Which will grow faster: India or Indonesia? (The Economist)

Blackstone’s Lumina CloudInfra to invest over $300 million to set up Navi Mumbai hyperscale data center

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GQG Partners looks to invest $1 billion more in Adani Group​

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Tata being Tata building huge commercial projects...

-> Tata Realty plans to develop 5 million square feet office space in Bengaluru, to invest ₹4,000 crore.

-> For Pune, Tata plans to invest Rs 2,000 crore to add 3.5 million square feet in the non-IT commercial segment branded as Intellion Edge.

->In Gurugram, Tata is building 1.6 million square feet office project.

->Tata also building its largest commercial office project in Navi Mumbai at 7 million square feet.


India's commercial office and data centre industry is growing like nuts!


Moody's sees India as fastest-growing G20 nation over next few years​

Nobody cares 50CentBot and stop posting unrelated nonsense over here.
Ohh I was rejected in the 2nd round for State Street as I did not have fin background. Since they are expanding, I guess I should go for one more round, they pay good salary btw :)
Data released
GDP Growth rate at 7%
Pertamina get East Natuna Block in Riau Islands sea

Reserve Prediction

Oil Reserve : 2.2 billion barrel of oil
Gas Reserve : 300 billon cft (cubic feet)

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Govt to ban LNG exports to meet domestic needs


Deni Ghifari (The Jakarta Post) PREMIUM Jakarta
● Tue, May 30, 2023

The government plans to prohibit the export of liquified natural gas (LNG) to help supply domestic industries, Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan announced on Tuesday.

Luhut said the ban would not affect ongoing export contracts but that the policy would apply for contract renewals. “We have been exporting LNG for many years, but now we need it, as it turns out.

We don’t want to export anymore. For ongoing contracts, by all means, continue, but those that have expired, stop,” Luhut said on Tuesday in his opening remarks for the 2023 International and Indonesia Carbon Capture and Storage Forum.


Volkswagen may build its next battery factory in Indonesia​


May 30, 2023 - 10:07 am

The Volkswagen Group is allegedly planning a battery factory for electric cars in Indonesia. Citing Ikmal Lukma, Secretary of the Indonesian Ministry of Investment, local media report that Volkswagen intends to invest around €4.7 billion in the factory.

Construction is to begin this year. The location has already been determined but has yet to be disclosed. According to Ikmal Lukma, the investment will be made by Volkswagen’s battery subsidiary PowerCo. The carmaker will allegedly also produce EVs at the site. Other key data – such as production capacity or the planned start of operations – are not mentioned. It is also noticeable that only the term “battery factory” is mentioned, which could also mean pure battery assembly in addition to cell production. However, if the investment sum of around €4.7 billion is confirmed, this speaks in favour of battery cell production, which is considerably more expensive than pure assembly.

A few weeks ago, it was leaked that PowerCo wants to build an ecosystem for electric vehicle batteries in Indonesia together with partners. Reuters reported this in mid-April, citing statements by Indonesian Investment Minister Bahlil Lahadalia. PowerCo is to cooperate with Ford, the mining company Vale and the battery material manufacturer Huayou Cobalt, among others. According to the investment minister, the French mining company Eramet and several Indonesian firms are also on board.

According to a separate announcement sent in April from the office of Indonesian President Joko Widodo, the unspecified investment in the battery ecosystem will also be made by VW’s battery subsidiary PowerCo. Details are unknown, but given the local raw material deposits, a focus on nickel makes sense – also because of the cooperation partners. Ford announced investments in a nickel processing plant in Indonesia with Vale and Huayou Cobalt at the end of March.

Recently, there have been repeated concerns about safety standards in Indonesian mines. Since the country has the largest nickel reserves worldwide and wants to profit from the downstream processing steps around the metal, President Widodo announced stricter monitoring of safety and environmental standards in March. Minister Bahlil now also sees the investment interest from European companies as evidence that concerns around the mines are being alleviated.

PowerCo recently told electrive that it will set up factories with at least 240 GWh of capacity by 2030. At “Power Day” in 2021, VW initially said that this capacity would be built in Europe alone and that it would set up six factories with a capacity of 40 GWh each on the old continent. However, the company is now moving away from a set number of production sites – and that the planned 240 GWh will also include production capacities outside of Europe.

The only cell factory VW has so far confirmed outside of Europe is the 90 GWh plant in St. Thomas, Canada, where it receives substantial subsidies from the Canadian government. Salzgitter, Germany, and Sagunt, Spain, have been chosen as locations for Volkswagen’s battery cell factories in Europe. And VW is partnering with Northvolt in Sweden to produce the unified cell. Talks are also underway for a plant in Eastern Europe, but VW postponed a concrete decision on location and investment – also because of the economic uncertainty and high energy prices in the region.


Indonesian agritech firm eFishery hits unicorn status with $108m series D​


eFishery co-founder and CEO Gibran Huzaifah / Photo credit: eFishery

Grace Priscilla Teo · 25 May 2023 ·

Indonesian agritech startup eFishery has raised US$108 million in series D funding, pushing its post-money valuation to US$1.3 billion, according to VentureCap Insights, which tracks regulatory filings.

The latest round is led by 42xfund and it saw participation from existing investors Northstar Group and SoftBank Vision Fund II.

EFishery last raised US$90 million in a series C funding round in January 2022.

Funding details​

  • Funding amount: $108,000,000
  • Lead investors: 42XFund
  • Other investors: Northstar Group, SoftBank Vision Fund
  • Stage: Series D
  • Valuation: $1,300,000,000
In a previous exclusive interview with Tech in Asia, eFishery co-founder and CEO Gibran Huzaifah said that the company aims to have 1 million fish farmers as members of its “digital cooperative” by 2025.

Founded in 2013 in the city of Bandung, the startup entered the market with an IoT device called eFishery Feeder, which enables automated feeding in fish and shrimp farms.

Other revenue sources include eFishery Mall (a marketplace for selling fish and shrimp feed), eFishery Fresh (a platform that sells fresh fish and shrimp to B2B customers), and Kabayan (a pay-later program for fish farmers).

eFishery has declined request from Tech in Asia for official comments.

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Indonesia not good enough tbh, both in size and spread:

Largest Indonesian companies are Pertamina and PLN, since their stake owned 100 % by government so their stakes are not traded in stock market. MIN ID is also not traded in stock market despite it owns 51 % Freeport Indonesia and 20 % Vale Indonesia.

How about see the assets as Indian companies market capitalization is big due to being inflated by their stock market hype. See how Andani business market valuation can be busted so easily....

If Indonesia GDP growth is greater than India, I bet many foreign investors will see India PE ratio as too expensive

This Indian Q1 2023 growth rate will be important to see Indian companies future value in their stock market. Will foreign investors still see them the same if Indian economic growth is not as phenomenal as their economists like to project...?
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