State-owned electricity provider PT Perusahaan Listrik Negara (PLN) has finally signed power purchase agreement (PPA) with a consortium of Pertamina, Marubeni Corp, and Sojitz for the development of 1,760 MW combined cycle power plant in Cilamaya, Karawang Regency, Jawa Barat, otherwise known Jawa-1 project under Jokowi-Kalla’s signature 35,000 MW program on Tuesday (Jan 31).
Read MoreSujaya Group’s two subsidiaries, i.e., PT Bintang Jaya Proteina Feedmill (Bintang Jaya) and PT Sinka Sinye Agrotama (Sinka Sinye) entered Suspension of Debts Payment (PKPU) four months ago. At first, the Group offered to release their valuable assets in order to fulfil their obligation to the creditors and asked for additional capital injection to the Banks, but the request was met with strong rejection. The Group had since offered payment in form of shares conversion and proposed a plan to issue mandatory convertible bond (MCB).
Read MoreWest Java police has named controversial Islamic Defenders Front (FPI) leader Habib Rizieq a suspect for defaming Pancasila. Munarman, spokesperson of FPI, meanwhile, has been quizzed by Bali Police for hate speech against the Hindus. But, these are of less popular than gossips surrounding the triangle: Tommy Soeharto, Firza Husein, and Rizieq.
Read MoreIn previous articles, we’ve written about Hidajat Lukman a.k.a. Teddy Uban, and Maxwell Armand, two figures linked to Tommy Winata (TW). In this article, we talk about another interesting figures also linked to TW. This is David Tjioe a.k.a. A Miauw.
Read MoreThe Government of Indonesia has appointed state-owned oil and gas firm Pertamina to operate 8 oil & gas blocks after contracts with existing operators expire in 2018. Indonesia’s new gross profit sharing scheme, which replaced the nation’s cost recovery scheme, will be applied to the new contracts in 2018. Under the gross profit sharing scheme the Indonesian Government and contractors agree up front on the proportion for splitting gross profit from oil and gas exploration (implying that all exploration and production costs are now borne by the operator).
Read MoreTwo months have passed since the trial of Putu Sudiartana began. The former member of the House Commission III of the House of Representatives (DPR) and former cadre of the Democratic Party faces the allegations of his involvement in a bribery related to the regional budget for West Sumatera. From the indictment, we know that the bribery is not the only indictment for Putu. Putu is also indicted for accepting gifts from several parties. In the hearing held on January 30, 2017, Putu admitted to his crime and asked to be punished.
Read MoreMore than four years ago (July, 2012), Tommy Winata (Artha Graha Group) attended the groundbreaking of iron ore smelting facility in Batulicin, South Kalimantan province to be built by PT Batulicin Steel (Jhonlin Group). Jhonlin Group is among major coal players in the country with assets in South Kalimantan and Central Kalimantan.
Read MoreOn February 15, 2017 the Commander of the Jakarta Regional Military Command (Pangdam Jaya) Maj. Gen. Teddy Lhaksmana will enter his mandatory retirement age. On the same day, the Jakarta gubernatorial election will be held. With only two weeks left before D-Day, one wonders who will get to become the next Pangdam Jaya as this position is key to the territorial security of the capital city.
Read MoreGlobal markets extended falls on Monday (Jan 30) due to Trump factor. Wall Street closed lower amid rising concerns over Trump’s policies after the President signed an executive order temporarily banning immigration from Iraq, Syria, Iran, Sudan, Libya, Somalia and Yemen, leading to protests and confusions at the airports.
Read MoreThe government will likely issue temporary special mining business permit (IUPK) to PT Freeport Indonesia, paving the way for resumption of copper concentrate export. Looks like that the government doesn’t want to bear associated risks, especially local economies and employment, from further delay of export.
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