Profiles

Bank Capital (BACA), ultimately controlled by businessman Danny Nugroho, issues 19.96 billion new shares with preemptive rights. The bank, which is only valued less than half of its equity, has to raise funds to strengthen its equity because the capital adequacy ratio (CAR) is very low. 

Hillcon, which has just launched an initial public offering (IPO), is a fast growing contractor in Indonesia, thanks to aggressive investments by Tsingshan and partners in the nickel processing. More nickel smelters in the Indonesia Weda Bay Industrial Park (IWIP), Halmahera, North Maluku province contributed to 94% jump in Hillcon’s revenues to Rp1.98 trillion last year.

Hanwa Co Ltd is one of the largest companies in the region with sales revenue of 2.16 trillion yen and operating profit of 62.3 billion yen in the fiscal year ended March 31, 2022. The Japanese company enjoyed strong growth, among others thanks to its overseas investments, particularly in Indonesia.

Shares of BRMS opened lower by 0,9% to Rp228 this morning. Still, it is one of the best performing stocks year-to-date with gain of more than 100% as investors continue to speculate on future consolidation of Salim Group’s mining assets. 

Jessica Herliani, daughter of Hary Tanoesoedibjo (MNC Group), has tied the knot with Jonathan Natakusuma, son of Fofo Sariaatmadja (Emtek Group). MNC and EMTEK are two of the largest media groups in the country. MNC controls TV stations like RCTI, MNC TV and TPI, while EMTEK owns SCTV and Indosiar.

Shares of Gudang Garam (GGRM), a major cigarette producer, ended higher by 2% to Rp31,225 on Wednesday to make a market capitalization of Rp60 trillion, only slightly above its equity (Rp59 trillion). Sarana Menara Nusantara (TOWR), a telecommunication infrastructure company controlled by another cigarette giant Djarum Group, meanwhile, is now worth Rp53.3 trillion, four times equity.

PTS, general manager corporate affairs of Musim Mas, one of the largest processors of crude palm oil (CPO) into cooking oil, oleochemicals, and biodiesel, has recently been named suspect in the so-called ‘cooking oil mafia’ case. Like two other groups implicated in the case, Permata Hijau and Wilmar International, Musim Mas could also be named ‘corporate suspect’ as hinted by Attorney General.

Stanley Ma, assistant to director for corporate affairs at Permata Hijau Group, has been named suspect by Attorney General’s Office (AGO) in the so-called ‘cooking oil mafia’ scandal. Alongside Wilmar and Musim Mas, the group might also be named corporate suspect in the case. This is probably the third major case implicating Permata Hijau Group (PHG) since 2009.

Dahlia Pangjaya, wife of the late Harsono Pangjaya, founder of Unifam Group has on Sunday (Apr 10) passed away at 75 years old. She leaves behind seven children, 13 grandchildren, and a business group with interest mainly in food & beverages.