Indonesia's Financial Services Authority (OJK), the government agency that regulates and supervises the country's financial services sector, may allow the plan of Japan-based Mitsubishi UFJ Financial Group (MUFG) to acquire a 73.8 percent stake in Indonesian financial institution Bank Danamon Indonesia through subsidiary The Bank of Tokyo Mitsubishi UFJ Ltd (BTMU).
20 September 2019 (closed)
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Today's Headlines Mitsubishi Corporation
Mitsubishi Corporation is considering to relocate its Mitsubishi Fuso factory - where commercial vehicles are built - away from the city in Pulo Gadung (East Jakarta). Noboru Tsuji, Senior Vice President of Mitsubishi Corporation and Division Chief Operating Officer of the Motor Vehicle Business Division, announced this plan.
Despite the slowing economy and weaker purchasing power in recent years, sales of instant noodles in Indonesia continue to rise. Although unhealthy, instant noodles are a highly popular meal in Indonesia due to its cheap price, tasty flavors, and easy-to-prepare nature. Instant noodle brands such as Indomie (produced by the Indofood Group) and Mie Sedaap (produced by the Wings Group) have become household favorites across the archipelago. Both are among the top five brands that are purchased most often by Indonesian households.
This week L’Oreal Indonesia opened its new factory in Cikarang (West Java), while Mitsubishi Motors Krama Yudha Indonesia started construction of a new car manufacturing plant, in Cikarang as well. Both factories will produce products for the Indonesian market and the regional ASEAN market as well as non-ASEAN markets. The Indonesian government will be pleased to see these investment commitments as it is eager to increase exports from Southeast Asia’s largest economy in order to curb the wide current account deficit.
One of the world’s leading beverage producers, The Coca Cola Company (TCCC), plans to allocate between USD $600 million and USD $1 billion for business expansion in Indonesia. This investment will be undertaken by TCCC and its Australia-based subsidiary Coca Cola Amatil (CCA). Both companies are eager to tap Indonesia’s lucrative market as Indonesia - Southeast Asia’s largest economy - contains a large population (around 250 million) and shows structural robust economic growth of +5 percent year-on-year.
Japan-based Mitsubishi Corporation (through its subsidiary Atri Pasifik) and Thailand’s Ichitan Group have agreed to construct a soft drinks factory in Indonesia through a fifty-fifty joint venture which will carry the name Ichitan Indonesia. The factory, which requires an investment of IDR 400 billion (USD $34.3 million), will produce various beverages but specifically various ice tea drinks under the Ichitan brand for the Indonesian market. Production at the new factory is expected to commence in 2015.
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