Category: Profiles

Bayan Resources (BYAN) is the only IDX-listed coal company informing shareholders about declaration of force majeure related to the government’s temporary export ban. Yet BYAN shares gained 2.26% to Rp32,875 on Wednesday to make market capitalization of Rp110 trillion, way above Adaro Energy (Rp71 trillion), which is the second largest coal group in Indonesia in terms of output.

PT Trimuda Nuansa Citra Tbk (TNCA), a company majority owned by Akulaku Silvrr Indonesia involved in logistic and transportation services, informed shareholders about its plan to acquire insurance company Staco Mandiri from some foundations liked to the State banks. Akulaku’s name boosted TNCA’s shares price by ten times in the past 12 months or so.

Indonesian agritech start-up eFishery (PT Multidaya Teknologi Nusantara) has just secured US$90 million Series C Funding from Temasek, Softbank, Sequoia Capital, Northstar Group, Go-Ventures, Aqua-Spark and Wavemaker Partners. Gibran Huzaifah, co-founder and CEO of eFishery, said the funds will be used to improve the plaform and services, making it the largest digital cooperative for fish and shrimp farmers.

PT Bumi Resources Tbk (BUMI), a coal company controlled by Bakrie Family, informed stock market authorities on Tuesday (Jan 11) that one Bambang Sihono has purchased additional 47 million shares, lifting his ownership to 4.9 billion or around 6.6% of BUMI’s total issued and paid-up shares capital. Who is Sihono?

Pluang, an investment app, has secured US$55 million Series B funding led by Accel, an American venture capital firm. That means Pluang (PT Bumi Santosa Cemerlang), which competes Ajaib, Bibit, and Bareksa, in the mutual fund platform, secured US$110 million funding in 2021.

Tidjan Ananto, minority shareholder of PT Panin Investment, ultimate parent of Bank Panin (PNBN), one of the largest banks in Indonesia, passed away late last month in Jakarta at 82 years old. PT Panin Investment is also ultimate parent of PT Verena Multi Finance, one of the largest consumer financing companies in the country.

Some established coal groups like Bakrie, Adaro, and Indika have recently ventured into new and renewable energy projects, but other business groups have only recently shown major investments in the sector. One of them is PT Hardaya Mining Energy, a subsidiary of CCM Group/Berca Group owned by the family of Murdaya Poo/Hartati Murdaya.

About three weeks ago minister of public works and housing granted the consortium of Jasa Marga (JSMR), PT Pembangunan Perumahan Tbk (PTPP), PT Waskita Karya Tbk (WSKT), PT Wijaya Karya Tbk (WIKA), PT Jasa Sarana, PT Gama Group, and PT Daya Mulia Turangga a 40-year concession to develop and operate the Gedebage-Tasikmalaya-Cilacap toll road with estimated investment of Rp56.2 trillion or around US$4 billion.

President Joko ‘Jokowi’ Widodo has on Monday (Dec 27) inaugurated commercial operation of PT Gunbuster Nickel Industry (GNI) in the Stardust Industrial Estate, Morowali Utara Regency. GNI reportedly operates 24 RKEF lines with combined output of 1.8 million tons of nickel pig iron (NPI). The ultimate target is to operate 52 RKEF lines with total investment of US$2.7 billion.

Dian Sumeler Ciputra, wife of the late property guru Ciputra, has passed away on December 22, 2021 at 89 years old. Dian, co-founder of Ciputra Group and president commissioner of Ciputra Development (CTRA), one of the largest property developers in the country, leaves behind Ciputra Group fully to the second and third generation.