Sintong Panjaitan & the Bintang Delapan Group (Part II)

On Mar. 18, 2014, the Minister of Industry M.S. Hidayat—a politician of the Golkar Party —met with the entourage of PT Sulawesi Mining Investment—a Joint Venture (JV) company between Bintang Delapan Group and Dingxin Group, a member of Tsingshan Group of Companies...

Sintong Panjaitan & the Bintang Delapan Group (Part I)

Lt. Gen. (ret) Sintong Panjaitan is one of the retired generals in the inner circle of President-elect Joko “Jokowi” Widodo. Sintong is an interesting figure to look into because he’s more than just a widely-respected military general; he too is a very well-connected...

Modern Group: Property, Retail & Minerals

Acquisition of Jakarta Garden City from Keppel Land (Singapore) has lifted the profile of Modern Group in property sector. Modernland Realty (MDLN) booked sales revenue of Rp1.79 trillion in the first half of 2014, jumped by 72% from the same period of 2013. Higher...

SBY’s Precious Last Gift to Tommy Winata

President Susilo Bambang Yudhoyono will soon leave office. Today, the Constitutional Court is scheduled to announce a ruling on July 9 election disputed by Prabowo-Hatta. Whatever the Court’s ruling will be, Tommy Winata could still proceed with his ambitious resort...

Speculations Surrounding Karen Agustiawan’s Resignation

Speculations continue on a surprise move from Karen Agustiawan to resign as CEO of state-owned oil and gas company Pertamina. Karen herself informed Pertamina workers and shareholders that she resigns for personal reasons. Media quoted various sources, including...

Indonesian Cinema Business

The two big players in the cinema business in Indonesia are Blitzmegaplex of PT Graha Layar Prima Tbk and 21 Cineplex of PT Nusantara Sejahtera Raya.  The 21 Cineplex Group was established in 1987 by Sudwikatmono in partnership with Benny Suharman, whereas...

People on the Move: Jonan & Karen

Minister of state-owned enterprises Dahlan Iskan said this morning that he has proposed to the Final Assessment Team (TPA) led by President SBY to appoint Ignatius Jonan, CEO of state-owned railway company PT Kereta Api Indonesia, as the new CEO of PT Perusahaan...
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