BUMDBadan Usaha Milik Daerah (Indonesian: Regionally-Owned Enterprises)
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31 December 2015 - UK-based venture capital and private equity firm Andalas Energy and Power Plc (LSE: ADL) has entered into an exclusivity agreement with BUMD PT Riau Petroleum, an Indonesian oil and gas company established by the provincial government and four local Regencies in the Riau Province of Indonesia, Andalas said.
As part of this process, the Company's local BUMD (Regency owned enterprise) partner (or their nominee) will be issued a 5% direct interest in each of the Moly Companies.
The Jakarta city administration would involve three BUMDs which operate in the property sector in the reclamation to build 17 islands off Jakarta.