Category: Profiles

Ariobimo Group and Taman Ria Senayan Project

A plan to build new legislative building continues to spark controversies. Leaders of the House of Representatives (DPR) insist that President Joko ‘Jokowi’ Widodo has approved the Rp1.6 trillion project, but some political parties recently changed their minds, calling the project not urgent this time around.

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Mitsui & Acquisition of Agricon Subsidiary

Mitsui Chemicals Agro Inc (MCAG) has recently signed agreement with shareholders of PT Agriculture Consruction (Agricon), a leading agrochemicals company in Indonesia, wherein the Japanese company acquired 30% shares of Agricon’s subsidiary PT Agriculture Construction Indonesia (AGCI). This marks the first investment of MCAG in the country.

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SGX-Listed Plantation Companies in First Half (1)

Shares of Golden Agri-Resources Ltd, the largest palm oil producer listed on SGX controlled by Sinarmas Group, ended flat Monday (Aug 14) even though the Company reported strong sales revenue and improved operations. Golden Agri is now traded below equity due to its persistent low return on equity (ROE).

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Blackberry, Indonesia, and Its Recovery

Blackberry used to rule the Indonesian smarthphone market. In a relatively short period of time, however, Blackberry lost ground to Apple, Samsung, Asus, and some Chinese brands. In recent years, interestingly, Blackberry expected more from Indonesia to support its business recovery. That’s why Blackberry CEO John Chen’s meetings with senior government officers yesterday in Jakarta deserved attention.

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Jinjiang Environment Expands in Indonesia

China Jinjiang Environment Holding Company Ltd, a leading waste-to-energy (WTE) operator in China but listed on Singapore Exchange (SGX), has decided to expand in Indonesia with the establishment of two companies. These companies are expected to tap the growing need for waste-to-energy facilities in Indonesia.

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DL Sitorus & The Seized Plantation Assets

DL Sitorus, founder and owner of Torganda Group, passed away last Thursday (Aug 3) when he was just on board of Garuda Indonesia flight from Jakarta to Medan, North Sumatra. DL Sitorus leaves behind a wife and five children plus some controversies surrounding plantation assets and some land deals.

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Sun Motor Group’s Property Business

Sun Motor Group, controlled by Sundoro Family, is known for its automotive business. According to the group’s website, the group now operates more than 60 outlets for Mitsubishi, Nissan, Suzuki, Chevrolet, Hino, Toyota, Renault in various cities in this country. Other than automotive, the group is also engaged in finance (PT Sunindo Parama Finance), car rental (PT Sun Utamadiyan Nusa), and property business. In this issue let’s talk about their property business.

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BAT-Bentoel, Eight Years Later Stuck in Number Four

Eight years ago, the British American Tobacco (BAT) acquired majority shares of PT Bentoel International Investama Tbk (RMBA) from Peter Sondakh’s Rajawali Group at enterprise value of Rp5.88 trillion. Peter walked away with Rp3.35 trillion for his portion of the shares. BAT then merged RMBA with PT BAT Indonesia.

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Salim Group’s Next Move in Financial Services Industry

Media outlets have generally pointed to Salim Group as owner of Bank INA Perdana (BINA), a small bank with total assets of Rp2.9 trillion only. Salim’s name contributed to around 600% gain in BINA shares year-to-date. At the current price, Bank INA already has market ‘value’ of Rp6.8 trillion or 5.7 x equity as at June 30.

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Sariaatmadja’s Emtek & Huge Tech Bet

Elang Mahkota Teknologi (EMTK), a company controlled by Sariaatmadja Family, booked net profit of Rp214.6 billion in the first half of 2017, skyrocketed from Rp55.5 billion in the corresponding period last year. But, as the group expanded its business beyond media and new economy, some came up with lot more questions.

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First Half of Bakrie Group (1): Bumi Resources

Bumi Resources (BUMI), the largest coal producer in Indonesia, booked net profit of US$162.25 million in the first half of 2017 against loss of US$20.8 million in the same period of 2016. But, this is not exceptional, because most of the profit was attributable to ‘other income’ of US$126 million.

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