Profiles

By the end of last week, national media reported regarding the government‘s concerns in overcoming carbon emissions by switching the liquefied petroleum gas (LPG) in 3Kg tubes which most household appliances used in every day to electric stove. The government plans to distribute the electric stove for free over the next five years with Rp5 trillion of its budget through the one million electric/induction stove conversion program.

Shares of natural gas distribution firm Rukun Raharja (RAJA), controlled by Hapsoro (Happy), husband of Puan Maharani (House Speaker, daughter of PDIP leader Megawati Soekarnoputri), opened lower by 2.94% to Rp1,155 this morning to make a market capitalization of Rp4.88 trillion. 

A property developer, Goldland Group has more than 30 years of experience in the business. According to the company’s website, the group owns projects in Goldland Karawaci, Puri Beta, and Puri 11.

PT Kencana Energi Lestari, engaging in renewable energy, recently signed a Letter of Intent (LoI) to build a new and renewable energy project in the Philippines for US$100 million of investment. The Letter of Intent was signed by KEEN President Director Henry Maknawi...

Hasan Sunarko (koh Boon Hong), founder of Samko, a diversified business group, has just passed away. He leaves behind three sons—-Amir, Ambran, and Aris—-who are at the helm of the companies.

Tsingshan, the world’s largest stainless steel producer, is the main force behind massive growth of the Indonesia Morowali Industrial Park (IMIP) in Central Sulawesi province and the Indonesia Weda Bay Industrial Park (IWIP) in North Maluku province. Hundreds of companies have established joint ventures in these industrial parks, which are responsible for substantial growth of Indonesia’s export of nickel-based iron and steel products.

Energy company, Indika Energy (INDY), which until now generates most of its profit from thermal coal, has joined others in the electric vehicle ecosystem and renewable energy business.

Since 2013, many Japanese companies engaging in property business entered Southeast Asia, including Indonesia, with strong residential demand. That said, Southeast Asia region has longterm growth prospects with decades of demographic dividends.

William Tandiono, son-in-law of Dr Tahir (owner of Mayapada Group), who is also president director of PT Maha Properti Indonesia Tbk (MPRO), passed away on Saturday, July 23. 

The Attorney General’s Office (AGO) decided not to extend detention of Lin Che Wei, one of the suspects in the cooking oil scandal. Lin Che Wei, policy advisor in some ministries, is suspect for his role in helping some companies getting export quota they reportedly didn’t deserve.