New Pertamina Board
President Joko ‘Jokowi’ Widodo has dismissed all directors of state-owned oil and gas company Pertamina and installed all new guys. The new chief executive officer (CEO) is Dwi Soetjipto, who is now CEO of state cement producer PT Semen Indonesia (SMGR)...BUMI’s New Auditor
Bumi Resources (BUMI), the largest coal producer in Indonesia but in deep shit due to huge debts, has ended its years of engagement with Tjiendradjaja & Handoko Tomo’s auditing firm, Indonesian affiliate of Mazars. BUMI informed stock market authorities...More Malaysian Investors in Indonesian Oil & Gas Business
Most of us only familiar with Petronas operations in Indonesia. Interesting, however, that more Malaysian companies have entered or about to enter the country’s oil and gas business. Who are they? KLSE-listed Sona Petroleum Berhad is in the process of acquiring...
IPO to Watch: Bank Agris & People Behind
Bank Agris has finally kicked off initial public offering (IPO) of 900 million shares, representing 21.25% of the total issued and paid-up shares capital. It is a small bank with total assets of around Rp3 trillion, but with big growth target. What do we know about...
Ophir Energy’s Bet on Indonesian Oil & Gas Business
Shares of Ophir Energy Plc have dropped steadily from as high as 499 pence in January to 170 pence last Friday despite acquisition of Indonesian oil and gas assets from Niko Resources Ltd and its offer to acquire Salamander Energy Plc. Still, Ophir Energy’s...Mining Contractor to Watch: Salim Group
PT Prima Sarana Gemilang (PSG), a mining contracting subsidiary of Salim Group’s Indomobil Sukses International (IMAS), is clearly player to watch in the industry, despite downfall of thermal and coking coal prices. In nine months of 2014, PSG generated revenues of...Security Briefing: Reactions to Slashed Fuel Subsidy and More
As expected, slashing fuel subsidies would cause some commotion in the public. Protests and rallies were staged by groups of students across the archipelago. Some were peaceful, some ended up in violence. In all instances, security officials managed to successfully...