Category: Profiles

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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The Sindoros

So, Eddy Sindoro has on Friday (Oct 12) surrendered to Indonesian authorities after two years of hiding overseas. Eddy will be facing years of prison term for his role in the bribery case implicating then Supreme Court secretary Nurhadi. Eddy and Doddy Aryanto (staff at Paramount Enterprise, where Eddy served as chairman) were sentenced prison term in 2016.

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Ie Seng Hoan Passes Away

Indonesian businessman Ie Seng Hoan, who filed lawsuit against Citibank Singapore back in 2011 for alleged loss us $18.1 million, has on October 7th, 2018 passed away in Jakarta. Ie, through his investment vehicle Zhen Yin Company, seeked US$17 million in damages from the bank, which was accused of negligent misrepresentations. 

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Benny Gozali Passes Away

Benny Gozali, commissioner of Gajah Tunggal (GJTL), one of the largest tire manufacturers in the country, passed away Sunday (Oct 7) in Jakarta. Benny is one of leaders of Gajah Tunggal Group banned from overseas travel in the infamous BLBI case, wherein former IBRA chief Syaf Temenggung has been sentenced prison term.

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People on the Move

Afraid of criminal investigation for spreading hoax, vice president candidate Sandiaga Salahudin Uno, planned to file police report against Ratna Sarumpaet. Like other leaders of Prabowo-Sandiaga campaign team, without verification, Sandiaga prematurely responded Ratna’s story about the assault on Tuesday (Oct 2), calling it ‘barbarous’. 

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Lucas, Finally

The Corruption Eradication Commission (KPK) has named lawyer Lucas suspect for obstruction the antigraft body’s investigation against his client Eddy Sindoro, influential executive holding several positions at Lippo Group, in a graft case related to the Supreme Court. 

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Leo Chandra & Columbia

National Police has asked Immigration Office to impose overseas travel ban against businessman Leo Chandra. Leo is accused of embezzling nearly US$1 billion of funds from 14 banks, including Bank Panin and Bank Mandiri. This is only months after Leo was awarded ‘Lifetime Achievement in Multifinance Industry’ by Indonesian Association of Multifinance Company (APPI).

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Edy Wartono Passes Away

Edy Wartono, one of the heirs of Sukun Cigarette Group, has passed away in Kudus, Central Java on September 17, 2018. He leaves behind a wife and four children. His brother Rindho Wartono, then director of the group, passed away two years ago.

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Yusuf Martak & Bakrie

Yusuf Muhammad Martak, chairman of the National Movement to Safeguard the Ulema Fatwa (GNPF) Ulama, denied reports linking him to PT Lapindo Brantas, an oil exploration company controlled by Bakrie Group, which was widely believed causing the hot mudflow in East Java. He, however, admitted that he was executive of PT Energi Mega Persada Tbk (ENRG), a company controlled by Bakrie, which was main shareholder of Lapindo Brantas. 

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