Aneka Tambang
In November 2007, Aneka Tambang (ANTM) was a US$4.8 billion company. Yesterday, the company’s market cap was US$2.17 billion. The fall of metals prices affected the company seriously. The company reported net sales of...
Read MoreAuthor: yosefardi.com
Ganda Group & Cement Industry
Ganda Group is a diversified company with interests in palm oil, mining, property, heavy equipment, construction, and recently cement. In the cement business, Ganda Group develops Semen Merah Putih. It initially imported the...
Read MoreIndonesia Journal of Law
Former East Java Regional Police Chief Herman Surjadi Sumawiredja decided to resign four months ahead of mandatory retirement as an expression of “protest” to what he called as “intervention” on investigation of serious election crimes in East Java governor election. In this report, (1) Benua Indah Group auction, (2) Kutai Regent gets 4-year, (3) Danamon vs Esa Kertas, (4) Bankruptcy filing on Kishore Narindas Vaswani.
Read MoreWhen Boy Thohir offloaded Adaro
Garibaldi Boy Thohir is one of Indonesia’s richest men with substantial shareholding in PT Adaro Energy (ADRO) Tbk, a company with market capitalization of US$6 billion. He is also the CEO of ADRO, the second largest coal group in Indonesia.
Read MoreNorthstar’s gambling on DOID-BUMA
Northstar Tambang Persada Pte Ltd is the new controlling shareholder of PT Delta Dunia Makmur (DOID). The company spent US$400 million to acquire 40% shares in DOID, which acquires coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA).
Read MoreFirst Resources & Martias Family
Ciliandra Fangiono, CEO of First Resources Ltd, is named among the richest in Indonesia. His father was sentenced 1.5 years in prison for a corruption case implicating former East Kalimantan governor three years ago. But now the former forestry giant is among the elites in palm oil business.
Read MoreAdimitra Baratama, who’s behind?
PT Adimitra Baratama Nusantara has just awarded a US$200 million five-year mining contract to PT Petrosea (PTRO) Tbk to develop its Sanga Sanga coal mine in East Kalimantan. Who’s behind Adimitra? The new contract with PT...
Read MoreThe Joker, Mulia Group & Politics
The Joker agreed to return US$60 million disputed funds from the high-profile Bank Bali scandal about a decade ago, media reported in the last few days. The Joker, identified in a controversial phone conversation between then junior attorney general for special crime Kemas Yahya Rahman and businesswoman Artalyta Suryani who has been accused of bribing state attorney Urip Tri Gunawan for US$660,000 (upon the order of Itjih Nursalim, wife of tycoon Sjamsul Nursalim), is Mr Joko Soegiarto Tjandra. (Read our previous report on The Joker). Marwan Effendy, Rahman’s successor, disclosed the commitment to return the US$60 million fund to the State on Friday just days after AGO announced its plan to file judicial review on the case where Mr Tjandra was released from charges few years ago.
Read MoreAgung Sedayu Group
Agung Sedayu Group is a fast growing property developer in the country. Sugianto Kusuma, partner of Tommy Winata in developing Artha Graha Group, is the man behind Agung Sedayu. The group is working on several projects such as...
Read MoreJoker & the other cards
Card players know exactly The Joker’s use is greatly varied. The Joker can be an extremely beneficial, or an extremely harmful, card. According to Wikipedia, in Euchre The Joker is often used to represent Benny, the highest trump. In poker game, it is wild—allowed to represent other existing cards. However, in the children’s game Old Maid, a solitary joker represents the Maid, a card that is to be avoided.
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