PetroChina (601857.SS) (0857.HK) (PTR.N), Sinopec (600028.SS) (0386.HK) (SNP.N), Sinosteel, Minmetals and China Investment Corp (CIC), a $300 billion sovereign wealth fund, are all aggressively scouring South East Asia's largest economy for takeover targets and joint venture partners, according to investment banking sources who know and advise the companies... "There's enormous interest from China in Indonesia," said an Asia-based investment banker who has advised regional resources companies on deals in Indonesia. "These include financing deals, stakes."
Natural gas is at the top of China's shopping list, the sources said. The sources declined to be named due to their relationships with Chinese clients... While Indonesia presents an opportunity for China, the country comes with ample risks -- from political corruption to opaque resources industry regulations to growing resource nationalism.
See also past CDT posts on Indonesia.