Category: Profiles

Wiwiek Tjokrosaputro Passes Away

Wiwiek Tjokrosaputro (Kwee Hwie Lan), mother of Anne Patricia Sutanto, vice president director of textile giant PT Pan Brothers Tbk (PBRX), passed away in Jakarta Monday (Jan 7). The late Wiwiek is sister of the late Handoko Tjokrosaputro (Batik Keris Group).

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New Leaders of Freeport Indonesia

PT Freeport Indonesia, one of the world’s largest copper and gold miners, has appointed new board of commissioners and directors, after 51% shares controlled by Indonesian entities. Richard Adkerson becomes chairman, while Tony Wenas as president director. 

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Indra Wonowidjojo

Indra Gunawan Wonowidjo (32 years old), son of Susilo Wonowidjojo—one of the heirs of Gudang Garam Group, made headlines in the past few days because of his extravagant wedding in Singapore recently.

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Huawei Operations in Indonesia

Following the arrest of Huawei director by Canada and intense scrutiny from USA and its allies over ties of Chinese tech companies to Beijing government, some sources told Reuters that Japan plans to ban government purchases of equipment from Huawei and ZTE Corp. Implications to Indonesian operation?

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Revisiting Luhut’s TOBA

Unlike other coal miners, shares of PT Toba Bara Sejahtra Tbk (TOBA) ended lower by 1.6% to Rp1,565 on Monday (Dec 3rd). At this price, TOBA had market capitalization of Rp3.15 trillion, slightly above its equity (Rp3 trillion by Sept 30, 2018). The stock has also been consistently traded way below peers despite strong performance in the first nine months of 2018. 

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Dwi Soetjipto Finally

Dwi Soetjipto, former president director of state oil and gas company Pertamina, has on Monday (Dec 3rd) been sworn in new chief of the Upstream Oil and Gas Special Task Force (SKKMigas) to replace Amien Sunaryadi.

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The Tjajadi Wedding

Indonesia’s social media circles reacted to the news of one Jusup Maruta Cayadi marrying one Clarissa. The wedding ceremony will be held on December 1, 2018, but the couple’s proposal and engagement videos have been widely circulated on the internet. Everything about the wedding plan, such as the 3D musical invitation, the lavish souvenirs, and the jaw-dropping doorprize on offer reminds the public of the romantic comedy movie “Crazy Rich Asians”. We’re interested in the family behind the two couple. Jusup is the son of Rendra Tjajadi of BEST Industry Group, while Clarissa is the daughter of one Thio Trio Susantono.

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Salim & Medco Partnership

Salim and Medco are among major business groups surviving decades of political changes in the country. Both were benefited from economic development program of Soeharto regime. Interestingly, they decided to join forces in infrastructure development in the country under Jokowi-Kalla administration. 

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Eagle High & Peter-Felda

November contracts of crude palm oil (CPO) fell to RM1,825 per ton on the Bursa Malaysia Derivatives Tuesday, while contracts for most part of 2019 were settled below RM2,300 per ton. This could extend pressure on palm oil producers, especially PT Eagle High Plantations (BWPT), a company co-owned by Peter Sondakh’s Rajawali Corpora and Malaysia’s Felda Group.

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People on the Move

Winata Hadi Santoso, founder and chairman of Panca Kusuma Raya Group, passed away last week in Singapore. Brother of Soegiarto Adikoesoemo, founder of AKR Corpora (AKRA), the late Winata leaves behind a business group with interest in distribution of chemicals, industrial equipment, and logistics services.

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Jokowi’s Four Years

First of all, congrats to Joko ‘Jokowi’ Widodo, who survived a turbulent four years. “I give him three months,” an arrogant leader of a major political party supporting Prabowo Subianto in 2014 election, told a friend in late October 2014. Months later, the guy was replaced as chairman of the party. His successor then brought the party to Jokowi’s coalition, which might have contributed to the president’s survival.

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