Adaro & Affiliated Transactions
Adaro Energy (ADRO) was not even half of Bumi Resources (BUMI) two years ago. Now Adaro is almost twice the size of BUMI by market capitalization. Both emerged out of leveraged buy-outs (LBO). BUMI collapsed due to aggressive expansion of assets through dubious...
Andree Halim & His QAF Ltd
QAF Limited has just released its first half financial results on Singapore Stock Exchange (SGX) with profit after tax of S$27.33 million, declined 13% from the same period last year. QAF is food giant controlled by Andree Halim, son of Soedono Salim (Lim Sioe Liong)...
Mr President and The Joker
Two suspended deputies of Corruption Eradication Commission (KPK) disclosed what might be the reason behind President SBY’s decision to issue the government regulation in lieu of law (Perppu) which basically kicked them out of the anti-graft body’s leadership. They disclosed the flow of funds from The Joker to SBY’s inner circle.
Auditing Firms of Listed Companies
Arthur Andersen collapsed with Enron. Andersen has been subject to much criticism for their role in Enron's collapse, partly on questionable accounting that kept hundreds of millions of dollars in debt off Enron's books. How about auditors of major companies on IDX by...
A private bank named BUMI
PT Bumi Resources (BUMI) Tbk lost another 3.66% yesterday to Rp1840. BUMI is now the top loser in Top 20 stocks on IDX (by market cap) with 24.1% fall so far this year. Endless announcements (claimed to be the most credible) failed to boost investors' confidence. Why?...
Peter Sondakh
Peter Sondakh, the owner of Rajawali Corporation Group, was born in Surabaya, East Java from a native Manado father and Dutch-born/nationality mother. His first wife was a Thailand-born woman. From this marriage, Peter has two children, Claudia & Charles, both grown-up. The second wife, a Singaporean named Evi whose family owns Peninsula Hotel chains in Singapore & Indonesia. Peter has one child from this marriage.
Adaro & BHP project
Adaro Energy (ADRO) surged 25.7% so far this year, second best behind Indika Energy (INDY) in major coal-related stocks. The stock steadily increased in the past three weeks on "expectation" of 25% equity participation in Maruwai coking coal project with BHP Billiton....
The Soeryadjayas
Respected founder of Astra International, William Soeryadjaya, passed away last week at 87. He survived a wife, Lily, four children, and twelve grandchildren. Bitterly lost his crown jewel, Astra Group, William’s children have tried to establish their own business empires for the third generation to grow.
Asia Food & Properties
Food and property arm of Sinarmas Group, AFP, reported net profit of S$153.46 million last year, inched up 0.4% from 2008 despite a strong 40.3% growth in operating profit. Last Thursday, crossing of 1.77 billion shares in its unit PT Bumi Serpong Damai (BSDE) Tbk,...
Astra International
PT Astra International (ASII) Tbk reported net profit of Rp10 trillion last year, increased 9% from 2008 on improved margin. The management proposes a 29% increase in full year dividend. The stock, meanwhile, declined 1.5% today. ASII booked net sales revenue of...