Pertamina vs Petronas: Financials

Elia Massa Manik has been confirmed new chief executive officer of state oil and gas company Pertamina yesterday. He will manage a company with liabilities of US$25 billion and total assets of US$47.23 billion, which is almost one-third the size of Petronas (US$136...

Eka Tjipta Widjaja’s Family

The family of Eka Tjipta Widjaja, tsar of Sinarmas Group, has released a family tree this morning as part of obituary of Trinidewi Lasuki, Eka’s wife, who passed away on Monday (Feb 6). Trinidewi leaves behind eight children and 26 grandchildren. The children are...

Hari Darmawan Heats Up Bakery Market

Indonesia’s bakery market has long been dominated by Salim Group-backed Nippon Indosari, which is famous with its Sari Roti brand. Alfa Group, owner of Alfamart convenience store, and some others, however, have stepped up their challenge. The latest is a joint venture...

Gas Price Cut: Tone Down Your Expectations!

President Joko Widodo has signed Regulation No. 40/2016 few months with a view of cutting gas price effective from January 1st, 2016. The regulation, however, yet to be implemented for several reasons, which might be rooted in the existing policy design and impacts to...

Growing Presence of MCC Overseas in Indonesia

MCC Overseas Ltd (MCCO), an international EPC service company wholly owned by Metallurgical Corporation of China Ltd (MCC), gained more grounds in Indonesia market, thanks to growing involvement of China in funding infrastructure projects and processing/refining of...

Two Years of Jokowi-Kalla: Electricity

Batang coal-fired power plant in Central Java (2×1000 MW) is not under Jokowi-Kalla’s signature 35,000 MW program, but the administration managed to solve land acquisition issue, which forced years of delay in its construction few months back. How about the...

Rumours on Apexindo & Elnusa

Apexindo Pratama (APEX), an oil and gas supporting services company, suffered net loss of US$7.35 million in the first half of 2016 as sales revenues collapsed 51.2% to US$71.3 million. Elnusa (ELSA), another supporting services company, on the other hand, booked net...

Property Player to Watch: Alfaland

Alfa Group is among the largest retail players in Indonesia through Alfamart (PT Sumber Alfaria Trijaya/AMRT Tbk). Alfamart generates sales revenue of around US$4 billion per annum with market ‘value’ of Rp21.6 trillion or about US$1.7 billion. Controlled by the...
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