Adira’s hefty profits & motorists
For two consecutive years, consumer financing company PT Adira Dinamika Multi Finance (ADMF) Tbk, a subsidiary of Bank Danamon, reported return on equity (ROE) over 38% per annum, thanks to the generosity of motorists to pay effective interest rate of up to 41.5% per...
Aneka Tambang
In November 2007, Aneka Tambang (ANTM) was a US$4.8 billion company. Yesterday, the company's market cap was US$2.17 billion. The fall of metals prices affected the company seriously. The company reported net sales of Rp8.64 trillion last year, declined 10% from 2008....
First Resources & Martias Family
Ciliandra Fangiono, CEO of First Resources Ltd, is named among the richest in Indonesia. His father was sentenced 1.5 years in prison for a corruption case implicating former East Kalimantan governor three years ago. But now the former forestry giant is among the elites in palm oil business.
Adimitra Baratama, who’s behind?
PT Adimitra Baratama Nusantara has just awarded a US$200 million five-year mining contract to PT Petrosea (PTRO) Tbk to develop its Sanga Sanga coal mine in East Kalimantan. Who's behind Adimitra? The new contract with PT Adimitra baratama is set to commence in August...
The Joker, Mulia Group & Politics
The Joker agreed to return US$60 million disputed funds from the high-profile Bank Bali scandal about a decade ago, media reported in the last few days. The Joker, identified in a controversial phone conversation between then junior attorney general for special crime Kemas Yahya Rahman and businesswoman Artalyta Suryani who has been accused of bribing state attorney Urip Tri Gunawan for US$660,000 (upon the order of Itjih Nursalim, wife of tycoon Sjamsul Nursalim), is Mr Joko Soegiarto Tjandra. (Read our previous report on The Joker). Marwan Effendy, Rahman’s successor, disclosed the commitment to return the US$60 million fund to the State on Friday just days after AGO announced its plan to file judicial review on the case where Mr Tjandra was released from charges few years ago.
Agung Sedayu Group
Agung Sedayu Group is a fast growing property developer in the country. Sugianto Kusuma, partner of Tommy Winata in developing Artha Graha Group, is the man behind Agung Sedayu. The group is working on several projects such as The Mansion Kemang (US$24.5 million)...
Joker & the other cards
Card players know exactly The Joker’s use is greatly varied. The Joker can be an extremely beneficial, or an extremely harmful, card. According to Wikipedia, in Euchre The Joker is often used to represent Benny, the highest trump. In poker game, it is wild—allowed to represent other existing cards. However, in the children’s game Old Maid, a solitary joker represents the Maid, a card that is to be avoided.
Agung Podomoro Group
Agung Podomoro Group is known for its self-financed and consumer-financed property projects. But looks like that has changed in recent years. Today, the company signed a Rp1.1 trillion loan with BNI, BII, and CIMB Niaga to partly finance its Rp2.7 trillion Central...
Astra Group in Q1
PT Astra International (ASII) Tbk reported 16% drop of net profit in Q1 2009 to Rp1.87 trillion, mainly due to significant drop of profit at plantation unit Astra Agro Lestari (AALI) and the automotive division, while the heavy equipment unit PT United Tractors (UNTR)...
MAKIN Group & Land Disputes
Kalteng Pos reported on Wednesday that land dispute between people in three villages (Sikan, Hajak, and Kandung) in three different sub-districts of Katingan Regency, Central Kalimantan and PT Antang Gunung Utama (AGU) continues.