Day: October 8, 2024

On Patra Logistik

Recently, PT Patra Logistik, part of Subholding Commercial & Trading of PT Pertamina (Persero), was sued by one of its business partners, PT Putra Patra Utama (PT PPU). PT PPU claimed that Patra Logistik had neglected to fulfill its payment obligations to the company. However, this case attracted attention not because it involved a subsidiary of a State-owned enterprise but because one of the newly appointed directors of Patra Logistik, amidst all the negative sentiment regarding political dynasties, is the nephew of President Joko “Jokowi” Jokowi.

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Adhi Karya Escape PKPU

In September 2024 a PKPU lawsuit was filed against PT Adhi Karya (Persero) Tbk (ADHI). The plaintiffs are one Machfud Suroso and PT Dutasari Citralaras. Machfud is identified as the company’s president director. At first glance, there is nothing strange about this lawsuit, but PT Dutasari Citralaras is a familiar name. One of the company’s directors was said to be an influential party in uncovering the corruption scandal of the Hambalang project, but was later imprisoned on suspicion of tax evasion. Towards the end of last week, the lawsuit was rejected.

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Rini Soemarno

For a few weeks now, President-elect Prabowo Subianto has been holding an ‘audition’ for the next cabinet planned to be formed soon after his inauguration as the eighth President of Indonesia. Some candidates have already been summoned to Prabowo’s private residence in Hambalang, West Java for a meeting, while some others are constantly mentioned in the long list of possible candidates that will occupy strategic portfolios in the administration of Prabowo-Gibran. And Rini Soemarno, former Minister of State-Owned Enterprises, is one of them.

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Airline industry update

Escalating tensions in the Middle East is clearly not good news for airliners, which have just recovered from the long Covid-19 pandemic. Fuel, the single largest cost component, might rise again, weighing faster recovery of tourism industry globally.

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Temasek/Surbana Jurong & Prabowo’s Housing Project

The devil is in the detail! Hashim Djojohadikusumo, brother of president elect Prabowo Subianto, said his brother will kick off development of 3 million homes per annum. Singapore’s Housing Development Board (HDB) and Surbana Jurong Ltd, subsidiary of Temasek Holdings, will be involved in the project as ‘advisors and consultants’.

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