Category: Profiles

Revisiting Hashim’s Assets (2)

Hashim Djojohadikusumo, brother of president candidate Prabowo Subianto, led the campaign team to log a complaint regarding what the team believed as potential fraud in the election to the Election Commission (KPU) yesterday. Prabowo’s supporters, meanwhile, continued to air Hashim’s statements about his contribution to Jokowi’s political career, and then labelled the incumbent a disrespectful man. Is it true that Jokowi didn’t ‘pay back’ to Hashim?

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The Lippo Universe (3)

Shares of companies linked to or controlled by Lippo Group fell again Monday (Mar 11). Matahari Dept Stores (LPPF) dropped 6.44%, LPLI down 6.47%, Lippo Cikarang -4.2%, and Lippo Karawaci 01.54%. Lippo Group, however, launched series of corporate actions today. The biggest is the US$1 billion financing program of the flagship property giant Lippo Karawai alongside reshuffle of the management. 

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The Lippo Universe (2)

The collapse of MatahariMall.com, an e-commerce platform developed by Lippo Group, cost Matahari Dept Stores (LPPF) dearly with Rp770 billion loss recorded from its nearly 20% shares in PT Global Ecommerce Indonesia (GEI). How about other shareholders, including Matahari Putra Prima (MPPA), which manages Hypermart?

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The Lippo Universe (1)

Shares of companies linked to Lippo Group collapsed Tuesday (Mar 5). Matahari Dept Stores led with 22.2% fall, while Matahari Putra Prima (MPPA) dropped 16.27%. Lippo Karawaci (LPKR) also fell 9.77%, while Lippo Cikarang tumbled by 9.77% despite efforts from Lippo Group to cut the connections to Meikarta affairs. 

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Revisiting Hashim’s Assets (1)

Hashim Djojohadikusumo, brother of Prabowo Subianto, is key person in the campaign of Prabowo-Sandiaga. He is a long-time supporter of the brother’s political career, including campaign funds in 2009, 2014, and 2019 elections. This is probably Prabowo’s last chance because of his age. Hashim’s business, however, will continue regardless of the outcome of April 17 election.

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State Capitalism: Kereta Api

Opposition continue to criticize president Jokowi’s approach in infrastructure development, especially his tendency to rely on state companies. The president, however, looks determined to expand the role of state companies. In this issue, let’s talk about the railway operator PT Kereta Api Indonesia, which posted net profit of Rp1.56 trillion last year, down from Rp1.72 trillion in 2017.

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Revisiting Prabowo’s Assets (2)

Other than forest concessions in East Kalimantan and Aceh, Prabowo has long been linked to PT Tidar Kerinci Agung, an oil palm plantation company in West Sumatra, which sits over 20,000 hectares of concession. Prabowo’s siblings and Malaysian company were listed initial shareholders in the company.

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Revisiting Prabowo’s Assets (1)

Public debate continues surrounding State assets controlled by president candidate Prabowo Subianto. The issue emerged when Prabowo indirectly expressed his pessimism about incumbent candidate Joko ‘Jokowi’ Widodo’s land reform program, including social forestry program, saying the available land is limited for redistribution. Jokowi replied by indirectly saying ‘well, you’re among those controlling huge concessions….’

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Eka Tjipta Widjaja & Sinarmas Empire (3)

Sinarmas Group’s assets have long been managed by second generation of the late Eka Tjipta Widjaja. Two of the children established their own groups outside the generic name Sinarmas Group, including Sukmawati Widjaja’s Top Global Limited (SGX-listed) and Oei Hong Leong’s Chip Lian Investments. Some of the third generation have been seen in managing the Sinarmas companies. 

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Eka Tjipta Widjaja & The Sinarmas Empire (1)

Eka Tjipta Widjaja, founder of the Sinarmas Group, has passed away Saturday (Jan 26) at 98. He leaves behind a business family worth over US$20 billion with interest in various sectors of the economy—-agriculture, consumer products, forestry, finance, mining, power generation, property, pulp & paper, telecommunication, and new economies (fintech, digital ventures).

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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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