Budi Waseso

Apr 21, 2018 | Profiles

Budi Waseso, former chief of the National Narcotics Agency (BNN) and chief detective of the national police, is reportedly appointed new CEO of the state food security company BULOG. This is an interesting development to watch. detik.com quoted Spudnik Sujono, member...

Revisiting Bakrie Group – China

Apr 18, 2018 | Profiles

Bumi Resources Minerals (BRMS), controlled by Bakrie Group, claimed that it has on April 13, 2018 been informed by the board of Nonferrous Metal Industry’s Foreign Engineering and Construction Co Ltd (NFC) that NFC agreed to acquire 51% shares of PT Dairi Prima...

Karen Agustiawan

Apr 4, 2018 | Profiles

She was president director of state oil and gas company Pertamina in the period of February 2009-October 2014. She holds record as the longest serving CEO of Pertamina since the downfall of Soeharto regime. Once considered potential cabinet member, Galaila Karen...

Hary Tanoe’s Financials & Politics

Apr 4, 2018 | Profiles

Entering political years of 2018 and 2019, some might pay more attention to companies controlled by Hary Tanoesoedibjo, chairman of Perindo Party. Perindo is among new political parties participating in next year’s legislative election. The party has formally...

PLN’s Financials

Apr 1, 2018 | Profiles

PT Perusahaan Listrik Negara (PLN), the state electricity provider, is the largest company in Indonesia by total assets and revenues. The Company booked net profit of Rp4.41 trillion last year, dropped 45.6% from 2016 despite falling operating loss before electricity...

The One Trying to Fly Merpati Again

Mar 24, 2018 | Profiles

Creditors, including minister of finance as the State Treasurer, have submitted their respective list of overdue receivables related to PKPU against the troubled state airline PT Merpati Nusantara Airlines (MNA). One Indonesian businessman, meanwhile, has been trying...

Maybank-BII Ten Years Later

Mar 19, 2018 | Profiles

Malaysia’s Maybank surprised many in March 2008 with its decision to acquire then Bank International Indonesia (BNII) at 4.7x book value. Back then, BNII was valued at US$2.7 billion. Ten years later the bank is valued US$1.38 billion. Not only half its initial value,...

Soerjadjaya-Thohir Mining Partnership: Next?

Mar 15, 2018 | Profiles

Shares of PT Merdeka Copper Gold Tbk (MDKA) advanced further by 6.58% this morning as investors responded positively the Company’s performance last year. MDKA, co-owned by some Indonesian businessmen, including Edwin Soeryadjaya and Garibaldi ‘Boy’ Thohir, is now a...

Mining Giant Sinarmas: Results & Outlook

Mar 11, 2018 | Commodities, Profiles

SGX-listed Golden Energy Resources Ltd (GEAR), controlled by Sinarmas Group, booked net profit of US$62.95 million last year, skyrocketed 186% from 2016, thanks to stronger price of thermal coal. Combined with its ownership in Berau Coal Energy (BRAU), Sinarmas Group...

Revisiting Sawit Sumbermas & Citra Borneo Indah

Mar 7, 2018 | Commodities, Profiles

Downfall of crude palm oil (CPO) prices might have contributed to 18% correction of Sawit Sumbermas Sarana (SSMS) in the past 10 months or so. While financial statements pointed to SSMS as one of the most profitable palm producers listed on Indonesia Stock Exchange...