Arifin Family & Business Empire
Bustanil Arifin, former minister of SMEs and cooperatives under Soeharto regime, has just passed away. He leaves behind a business empire with interests in property, plantation, food processing, and retail. One of them might launch an initial public offering (IPO)...
Deddy Hartawan Jamin
Forestry company PT Sumalindo Lestari Jaya (SULI) Tbk, a company controlled by Sampoerna and Sunarko families, has been in dispute with its minority shareholders namely Deddy Hartawan Jamin and Imani United Pte Ltd. Who is Deddy Hartawan Jamin? Sumalindo denied all...
Revisiting Ganda Group
So, two-state banks (BNI and BRI), Indonesian Eximbank, and Bangkok Bank Plc have provided loan commitment of Rp5.27 trillion to PT Cemindo Gemilang for the construction of one cement plant in Banten province and two grinding plants in two different locations. This would strengthen Ganda Group’s position in the country’s cement market.
The Joker, Nursalim, & Tan Kian
Three businessmen: Djoko Tjandra, Sjamsul Nursalim, and Tan Kian, are currently facing legal issues with Indonesian authorities. Djoko’s passport has been revoked. Meanwhile, civil lawsuits against Nursalim and Tan Kian are underway. What’s going on?
Adikoesoemo: What’s Next?
PT AKR Corporindo (AKRA) Tbk will get US$244 million from divestment of its 68% shares in sorbitol producer PT Sorini Agro (SOBI) Tbk. Haryanto Adikoesoemo, CEO of AKRA, said it divests SOBI because AKRA wants to focus in chemicals distribution, logistics...
A More Aggressive JAPFA
PT Japfa Comfeed Indonesia (JPFA) Tbk is among the best performing stocks this year, gained 155% year-to-date. The company has just secured a US$110 million facility from Bank Central Asia (BCA) to finance expansion and working capital. JPFA has retreated 19.7% from...
Adijanto Family & Business Empire
The family, like others, was in trouble in late 1990s due to the collapse of banking system. In recent years, the family has expanded its business in coal mining, plantations, and forestry. This family controls at least three companies listed on the Indonesia Stock...
Minang Merchants Network: Who’s Who
It was a busy weekend for Kalla. He was there in his capacity as Vice President. He brought with him several high-profile business & politic leaders of Minangkabau ethnic such as Industry Minister Fahmi Idris and deputy chairman of Regional Representative Council (DPD) Irman Gusman who are also Golkar Party leaders.
ACE Hardware & Kawan Lama
Ace Hardware (ACES) is one of the best performing stocks in the retail business. It gained 40% this year to make a US$400 million company. The company has just opened its 43rd outlet in Bekasi area last month. Ace Hardware is controlled by Kawan Lama Group. Who's...
Ancora Resources, so far
PT Ancora Indonesia Resources (OKAS) Tbk, a company controlled by Investment Coordinating Board Chairman Gita Wirjawan, posted net profit of Rp6.7 billion in the first half of 2010, slashed 70.6% from the same period last year on squeezed margin. The stock, meanwhile,...