Indonesia’s Coal DMO Realization Hit 134.63 mn Tons by Aug-25

MACROECONOMY
China’s 3Q Economy Expected to Maintain Steady Growth
NBS spokesperson Fu Linghui stated that China’s economy is expected to remain stable with positive momentum in 3Q25, supported by ongoing macro policies. In Jul–Aug, industrial output grew +5.7% and +5.2% YoY, while services expanded faster at +5.8% and +5.6% YoY. Retail sales rose +3.7% and +3.4% YoY, with services retail +5.1% in 8M25. Exports gained +8.0% and +4.8% YoY, while unemployment stayed stable (30–59 yrs: 3.9%). Core CPI rose +0.8% and +0.9% YoY, extending 4 months of acceleration. High-tech manufacturing surged +9.3% YoY, with strong growth in NEVs and industrial robots. (中国财经)

INDUSTRY
Indonesia’s Coal DMO Realization Hit 134.63 mn Tons by Aug-25
The Ministry of Energy and Mineral Resources (ESDM) reported coal supply for domestic market obligation (DMO) reached 134.63 mn tons by Aug-25, or 56% of this year’s 239 mn tons target. APBI and IMA said producers remain committed to fulfilling DMO, with
realization typically peaking in Q3–Q4. National coal production for Jan–Jun-25 stood at 357.6 mn tons (48.34% of the 739.7 mn tons target), while exports hit 239.7 mn tons (32.18%). (Kontan)

Indonesia Targets 80–100 GW Solar Power, Eyes Bigger Freeport Stake 
President Prabowo Subianto met Energy Minister Bahlil Lahadalia at the State Palace to accelerate the national energy transitionthrough renewable projects, including 80–100 GW of village-scale solar panels. Govt. plans to attract foreign investors to support limited local capacity (≈5 GW/year) and push collaboration between SOEs and private firms, including PLN. Talks with Freeport also progressed, with potential to increase Indonesia’s stake beyond the initially agreed 10% while considering contract extension. (Emitennews)

COMPANY
Medco Energi (MEDC) Acquired 45% Operating Interest in Sakakemang block
MEDC acquired a 45% operating interest in the producing Sakakemang PSC and an 80% interest in the adjacent South Sakakemang block for approximately USD 90 mn, though the sellers were not disclosed (current holders: Repsol 45%, Petronas 45%, and Moeco 10%). Separately, MEDC raised its effective ownership in PT Transportasi Gas Indonesia (TGI) to 40%. TGI operates a gas pipeline network that transports natural gas from Medco’s Corridor PSC and other South Sumatra–Jambi suppliers to buyers in Riau, Batam, and Singapore. (Company Disclosure)

Astra International (ASII) Raised Ownership in Hermina (HEAL) to 20%
ASII, through PT Astra Healthcare Indonesia (AHI, 99.99% owned), acquired an additional 1.47 bn sh of HEAL during 9–12 Sep-25 for a total of IDR 2.69 tn, at prices ranging from IDR 1,683–1,850/sh. Following this transaction, ASII’s effective ownership in HEAL rose to 20% (vs 10.42% previously). (Investor.id)