Category: Profiles

Jackson Tandiono and Nipress

The past few years have been difficult for PT Nipress Tbk (NIPS). Trading in the company’s shares has been suspended since 2020. The company is now on the verge of being delisted. The company and its subsidiaries and its affiliated companies have to face several lawsuits on Suspension of Debt Payment (PKPU). In March 2020, a PKPU lawsuit against NIPS was granted. The company resolved the dispute amicably towards the end of 2020, but the situation did not last long. Starting the end of 2021, creditors had been filing lawsuits, seeking to cancel the peace agreement. Recently, we learned that the leader of the companies, Jackson Tandiono, had been named suspect by the police in an unidentified criminal case. What a mess.

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Esqa & people behind

A beauty brand Esqa by PT Keva Cosmetics International has raised US$6 million in a series A funding round led by Unilever Ventures with participation from East Ventures. The fresh funding, therefore, will be used for product development, hiring, marketing, and expansion purposes. 

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The New Chairman of HIPMI

The Indonesian Young Entrepreneurs Association (HIPMI) has a new chairman. Akbar Himawan Buchari has been elected as the new chairman of HIPMI for 2022-2025 period in the chairmanship congress held in Surakarta, Central Java. Akbar, as we’ve reported before, was supported by, among others, Bobby Nasution, the son-in-law of President Joko “Jokowi” Widodo.

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Wedding of the Year

Kaesang Pangarep, the the youngest son of President Joko “Jokowi” Widodo, will tie the knot with Erina Sofia Gudono next month. The groom and the bride have yet to officially announce their wedding day, but many reports said the...

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Darmawan Kurniadi passes away

Businessman Darmawan Kurniadi, co-founder of Mayora Indah (MYOR), one of the largest food and beverages companies in Indonesia, has passed away on November 1st, 2022 at 89 years old. He leaves behind a daughter and two grandchildren.

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Bakrie Group’s Revival

“I see bright face of Pak Ical now because coal price hovers above US$400 per ton,”  said President Joko ‘Jokowi’ Widodo during a speech at Golkar Party’s anniversary last week, when he greeted Golkar Party’s chairman of patron board Aburizal Bakrie. Bumi Resources (BUMI), the main cash cow of Bakrie Group, has indeed regained grounds to make a market capitalization of Rp24.35 trillion. 

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Sohit Chairil passes away

Businessman Sohit Chairil, whose family has interest in oil palm plantation, heavy equipment, mining, logistic, and property & hospitality, has just passed away in Jakarta on Friday, October 14 at 62 years old. He leaves behind four brothers, who are involved in the businesses, and three sisters.

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Waste4Change

A waste management startup, Waste4Change, has recently raised US$5 million in A series funding round led by AC Ventures and Barito Mitra Investama, with participation from Basra Corporation, Paloma Capital, PT Delapan Satu Investa, Living Lab Ventures, SMDV, and Urban Gateway Fund.

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Anies & Business Groups (2)

April 20, 2017, Anies Baswedan, who just won the gubernatorial election, took a helicopter from his private residence in South Jakarta to meet then governor Basuki Tjahaja Purnama (Ahok) at the City Hall. The chopper landed at helipad of Aryaduta Hotel, which is owned by Lippo Karawaci (LPKR). 

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Bakrie & Salim

We have long speculated broader partnership between Bakrie Group and Salim Group. Following investment in non-coal mining company PT Bumi Resources Minerals Tbk (BRMS), which currently has market capitalization of Rp23.82 trillion, Salim Group entered Bumi Resources (BUMI), the country’s largest coal miner with market capitalization of Rp24 trillion.

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About Luhut

October 7, 2022, some high-profile guests attended the launching of a biography of Luhut Binsar Pandjaitan at the Dharmawangsa Hotel, South Jakarta. The book titled LUHUT is written by Noorca M Massardi upon the initiative of Kartini Sjahrir (Luhut’s sister). 

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