Those Continue to Expand: Siam Cement Group
SCG Chemicals, unit of Thailand-based Siam Cement Group, made a very good bet in acquiring 30% shares of petrochemical giant PT Chandra Asri Petrochemical Tbk (TPIA) in September 2011 for US$441 million only. Today, SCG controls 31% shares worth around US$2.3 billion....Samin Tan & His Borneo Lumbung
Creditors, the government, and suppliers, struggled to get payments from Borneo Lumbung Energi and Metal (BORN) for many years, but Samin Tan, the controlling shareholder, has shown that he was still a rich person. BORN has just released its financial statement for...Hary Tanoe’s Companies Ahead of 2019 Election
Most companies under MNC Group yet to release their financial statement for the period ended March 31, 2018. Property arm PT MNC Land Tbk (KPIG), however, reported net profit of Rp7.1 billion in the first quarter of 2018, significantly better than the corresponding...New People around the President
President Joko ‘Jokowi’ Widodo has appointed four new special staffs. They will help the President in addressing government’s public communication and issues related to Islam at home and overseas, plus economic affairs. Who are they? 1/ Adita Irawati: Adita is former...Bakrieland in Red Still
Whilst half of the previous year, PT Bakrieland Development Tbk (ELTY), property arm of Bakrie Group, booked net loss of Rp271.5 billion in 2017. The Company reported 26% fall in sales revenue to Rp1.24 trillion, while gross profit down 6.7%. While Bakrieland managed...Budiono Widodo Passes Away
Founder and chairman of BW Group, Budiono Widodo, has passed away at 81 years old. He leaves behind a business group with interests in hotel, resort, oil palm plantation, warehousing, shipping, scalfolding, education, etc. Among companies under BW Group are PT Jambi...Garuda Needs Major Overhaul
Flag carrier Garuda Indonesia (GIAA) booked net loss of US$65.34 million in the first quarter ended March 31, 2018, dropped from US$100.64 million in the corresponding period last year. Operations improved with sales revenue growth of 7.9% to US$983 million, while...