Category: Profiles

Property Player to Watch: Stareast Group

Stareast Group, as described by its website, is an Indonesian based private investment firm engaged in various industries such as real estate, hospitality, asset management, transportation, and retail businesses. The group is also partner of Tommy Soeharto (Humpuss Group) in developing Pecatu Indah Resort project, a resort complex in the south of Bali Island with 400 ha of areas. Who’s behind?

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Ilham Habibie & Bank Muamalat

It is official! As we reported two weeks ago, Ilham Habibie, son of Indonesia’s third president BJ Habibie, is the man behind Minna Padi Investama’s acquisition of 51% shares in Bank Muamalat, pioneer of sharia banking in Indonesia. Given Ilham’s background, he is certainly supported by wealthy investors.

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Didi Dawis & His Hospitality Business Bet

Kompas newspaper published a half-page congratulation advertisement for the wedding of Budi D. Dawis, son of businessmann Didi Dawis, a long-time chairman of QAF Limited (controlled by Salim Group), and Janet Prasetio, daughter of Hendry Halim and Diana Prasetio, Monday (Oct 9).

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Bumi Hasta Mukti & People Behind

PT Bumi Hasta Mukti is said buyer of Chevron’s 25% interest in South Natuna Sea Block B, one of the largest oil and gas producing blocks in the country. The acquisition consideration has not been revealed, but given the previous valuation of the block, we might talk about over US$100 million of deal.

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Big Groups in Financial & Technology Ventures (1): Salim Group

Anthoni Salim, CEO of Salim Group, one of the largest business groups in Indonesia, confirmed earlier about his intention to grow financial technology (fintech) services business with significant investment. Anthoni provided no further detail, but the group’s quest to become key player in fintech can be seen in investments in financial and technology ventures.

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Consolidation of Soeryadjaya-Thohir’s Gold-Copper Assets

Two weeks ago we speculated about possible consolidation of Finders Resources Ltd, owner of Wetar copper project in Maluku province, into IDX-listed PT Merdeka Copper Gold Tbk (MDKA). Today, Finders informed Australia Stock Exchange (ASX) that a consortium, where MDKA is a member, has offered an off-market takeover for all of the shares in Finders.

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Centenerian Tan Siong Kie Passes Away

Tan Siong Kie, founder of Rodamas Group (the Group), passed away at 101 years old on Tuesday, October 3rd, 2017. He is father of businessman Mucki Tan Pei Ling, one of the richest men in Indonesia. Rodamas is one of the largest business groups in the country with interest in consumer goods, manufacturing, trading, pharmaceutical, properties, and financial industry.

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Indika Energy After Full Consolidation of Kideco (2)

Shares of Indika Energy (INDY) ended lower by 1.06% Tuesday. The stock has dropped 13.5% from its peak as some investors realized gains (164% year-to-date). Any more upsides from acquisition of additional shares in Kideco Jaya Agung, third largest coal producer in Indonesia, which is expected to complete before Christmas?

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Revisiting Medco Energi: Undervalued?

Shares of Medco Energi (MEDC), which has interest in oil & gas, gold & copper, coal, and power generation, ended higher by 2.56% to Rp800 Monday (Oct 2nd) as some investors responded positively the company’s financial results for the period ended June 30, 2017. At this price, MEDC has market value of Rp10.45 trillion or 0.8 x equity as at June 30, 2017.

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