PT Adaro Energy (ADRO) Tbk is currently twice the size of PT Bumi Resources (BUMI) Tbk in terms of market capitalization. ADRO announced its 2008 operation activities where coal production increased 7% to 38.5 million tons while...
Read MoreRemember the tragic death of Boedyharto Angsono? Looks like the family has left the tragedy behind. Asaba Group, controlled by Angsono family, has expanded its business significantly in recent years. Established in 1962 as...
Read MorePT Bakrie & Brothers (BNBR) Tbk announced a plan to issue convertible bonds worth Rp4.2 trillion to PT Northstar Pacific this month, convertible to up to 31.25% shares of BNBR. BNBR will issue 42.6 billion shares in April or May 2009 with exercise price of Rp100-110, Detik.com reported. Confused? Don’t worry, you’re not alone!
Read MoreNorthstar Pacific agreed to takeover US$575 million loan from Odickson Finance which will give indirect control over Bakrie & Brothers (BNBR) unit PT Bumi Resources (BUMI). It is not clear how many BUMI shares Northstar paid, nor the relationship with Bakrie Group.
Read MoreSellers need to create a competition-like environment to get better prices. Some brokerage firms in Indonesia, for example, hired jockeys to establish a long queue for initial public offering (IPO) to create a perception called over-subscribed. Ask someone to take the picture, and ask someone else to publish it in the media. Sometimes it worked well, especially to attract followers-type investors.
Read MoreEarly 2006, various groups competed to takeover three companies—PT Kaltim Prima Coal, PT Arutmin Indonesia, and Indocoal—from Bumi Resources (BUMI). Renaissance Capital got the deal with US$3.25 billion offer. But then collapsed six months later.
Read MorePT Northstar Pacific with full support from Texas Pacific Group (TPG) has signed conditional shares purchase agreement (CSPA) with Bakrie Group regarding the shares in PT Bumi Resources (BUMI) Tbk. They have one month to accomplish the deal. What are the conditions? Who will provide the US$1.2-1.4 billion financing?
Read MoreCiliandra Perkasa Finance Company Ltd has repurchased US$5 million bonds due 2011 leaving the outstanding amount of US$140.8 million. How about the company’s performance? PT Ciliandra Perkasa Tbk, a company controlled by...
Read MoreFirst Resources Ltd is a newly listed company in Singapore, while PT Surya Dumai Industri Tbk has been kicked-out from Indonesia Stock Exchange (IDX). Both are related because Martias, convicted in a corruption scandal, is founder/owner of Surya Dumai. While his son Fangiono controls First Resources.
Read MoreArgo Manunggal is a diversified business group with five major divisions: textile, steel, property, rubber, and non-core. The group once had 61 companies, of which 22 of them defaulted loans to banks. What’s happened since...
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