Singapore International Arbitration Center (SIAC) has ruled in favour of Felda-owned FIC Properties Sdn Bhd in the company’s second attempt to exercise the put option to sell its 37% stake in PT Eagle High Plantations Tbk (BWPT) back to the Rajawali Group, The New Strait Times reported on Friday (June 28). What Peter Sondakh’s Rajawali Group will do next?

The Singapore International Arbitration Center (SIAC) is expected to announce its verdict on the arbitration lawsuit filed by FIC Properties Sdn Bhd, unit of Malaysia’s FELDA, against the Rajawali Group, a diversified business group controlled by Indonesian tycoon Peter Sondakh. 

President elect Prabowo Subianto met leaders of political parties within his ruling coalition on Thursday (Jun 20) in Jakarta. They were Airlangga Hartarto (chairman of Golkar Party), Agus Harimurti Yudhoyono (Democratic Party), Zulkifli Hasan (PAN), and Anis Matta (Gelora). Leaders of other coalition members, including Kaesang Pangarep (PSI, son of outgoing president Jokowi), were not there.

Tanri Abeng, former minister of state-owned enterprises and chairman of state oil and gas company Pertamina, has on Sunday (June 23) passed away in Jakarta at 82 years old. Tanri and his children control Tason Holdings, which has interest in some business sectors, including oil and gas.

SSP Group, a UK-based foodservice company, has announced its plan to enter the food and beverage business (F&B) in Indonesia through a joint venture (JV) with food and beverage operator PT Taurus Gemilang (TG) Group. SSP Group will own 60% of the new company, while TG Group will own the rest. The JV, in addition, will see SSP Group operate 13 outlets, 12 of which are located at I Gusti Ngurah Rai International Airport in Bali, alongside a single site at Juanda International Airport in Surabaya, East Java province. SSP Group is expected to operate TG’s current units at Bali and Surabaya in the third quarter.

Robby Tjahjadi (Sie Tjie It) passed away on May 31, 2024. Robby is a controversial businessman who made a successful comeback after serving time in the 1970s for heading a luxury car smuggling syndicate.

Henry Onggo, the founder of PT Ratu Sayang International, passed away at 85 years old. He leaves behind a big family and some important commercial property assets.

PT Energi Sterila Higiena (Ensterna/Sterina) claims to be the pioneer in Indonesia commercial irradiation services and perhaps this is true. This seems to be the first time a company in the field of nuclear technology has appeared to the public. Behind the company is a familiar name, Dahlan Iskan. The former Minister of State-Owned Enterprises (BUMN) is reportedly one of the company’s founders. Unfortunately, this information became public after the company was involved in legal problems.

Hendry Lie, co-founder of the troubled Sriwijaya Air, has reportedly been named suspect in the tin corruption scandal dragging already a lot of people (businessmen and government officials). Hendry is suspect in his capacity as beneficiary owner of PT Tinindo Internusa (TIN), which is implicated in the massive corruption case.

Mooryati Soedibyo, the founder and owner of cosmetic company Mustika Ratu (MRAT) has just passed away at 96 years old. She married Soedibyo Purbo Hadiningrat in 1956, and the couple had children named Putri Kuswisnuwardhani, Djoko Ramiadji, and Haryo Tedjo Baskoro. Djoko is recently listed as President Commissioner, while Haryo is listed as Commissioner of MRAT.