Bakrie might still be the largest group (outside Astra, SOEs, and banks) on Indonesia Stock Exchange (IDX) by total assets (US$19.6 billion as of December 31, 2012 at Rp9200/USD). Salim Group’s total assets (five companies) were only half of Bakrie in the same period.
Read MoreSome people initially believed that Dahlan Iskan has nothing to lose management style. They then expect Dahlan would reform the management of state-owned enterprises. He portrayed himself a guy like that, less bureaucratic, lean management…That’s probably why he was so confident in delegating some of his powers in managing SOEs.
Read MoreAburizal Bakrie is confident that he will gain full support from Golkar Party to be a president candidate in 2014, even though some favor former VP Jusuf Kalla. Some then claimed that Kalla might be nominated by President SBY’s Demokrat Party to enter the race.
Read MoreHe was only director of a small state-owned cement manufacturer PT Semen Baturaja. His decision to join Demokrat Party, however, has elevated his status in the society. In 2009, he was elected Speaker of the House of Representatives (DPR). His business ventures have also grown tremendously, including in the ‘hot sectors’.
Read MoreLeo Nickolaevich Tolstoy said, “Everyone thinks of changing the world, but no none thinks of changing himself.” That’s the common respond of some people we asked about the entry of some independent candidates in this year’s Jakarta gubernatorial race.
Read MoreCentral government demands a postponement of elections of leaders in Aceh (governor, regents, and mayors). The incumbent governor, however, believes the elections should be held as scheduled on February 16, 2012. Will the are returning to pre-Peace Accord situation?
Read MoreIndonesia is set to auction some major coal-fired power plant projects in Java with combined capacity of more than 8,000 MW, despite concerns surrounding the delay in construction of 2×1000 MW project co-owned by Adaro Energy, Itochu, and J-Power. Other than these giant projects, some major business groups are competing in medium size power plant projects.
Read MoreIt’s down to two groups competition in the divestment of 3% shares of copper and gold mining giant PT Newmont Nusa Tenggara (NNT) valued at around US$109 million. It’s between PT Bumi Resources Tbk and PT Trakindo Utama. This is a warming-up to the bigger fight for another 7% of NNT should be divested until early 2008.
Read MoreWe all know that crude palm oil (CPO) prices dropped 20% year-to-date in international market. So, it’s understandable that Bakrie Sumatra Plantation (UNSP) reported 29% drop in sales revenue. Unlike others, however, this company posted net profit of Rp6 billion only in nine months of 2012, slashed 99.2% from the corresponding period of 2011.
Read MoreBumitama Agri Ltd, a JV between Harita Group and IOI Corp, has gained 39% from its IPO price early this year to make a company with market capitalization of S$1.8 billion. The company has just secured US$170 million term loan facility from some banks. How about its performance?
Read More