Visi Asia Media (VIVA), the parent of TVOne and ANTV owned by Bakrie Group, recorded revenues of Rp619.2 billion in the first half (H1) of 2023, declined 32.3% year on year (y/y), worsened from last year with revenues only declining 0.65%. VIVA, accordingly, was not able to reduce its tax liabilities to the State (Rp461 billion as of June 30, up 1.9% from December 31, 2022), which is ten times tax payables of Hary Tanoesoedibjo’s MNCN (parent of RCTI and GlobalTV).

Following the merger of Indosat and Hutchison 3, Indonesia now has four players in the cellular business. By far, SmartFren Telecom (FREN), controlled by the family of Widjaja (Sinarmas Group), is the smallest, and until now struggles with years of losses. 

Sinarmas Group has recently embarked on a US$3.6 billion expansion project to build new factory in West Java province with 3.9 million tons per annum capacity. Financing details of this project yet to be released, but Indah Kiat Pulp & Paper (INKP) and its sister company Lontar Papyrus have launched Rp19 trillion perpetual bonds program.

Budi Arie Setiadi, a loyalist of President Joko “Jokowi” Widodo, has been sworn in as the new Minister of Communications & Informatics (ICT) replacing Johnny G Plate, the disgraced politician from Nasdem, a political party led by media mogul Surya Paloh. Budi Arie is the chairman of Pro Jokowi (Projo), arguably the largest volunteer group of President Jokowi.

Rosan P Roeslani, co-founder of Recapital Group, was elected new chairman of Indonesian Chamber of Commerce and Industry (KADIN Indonesia) eight years ago. It was a landslide victory over rival Rachmat Gobel, former minister of trade and politician from NasDem Party. Most believed Rosan would later be joining the cabinet, but he was appointed Ambassador to the US two years ago. 

Unlike most leaders of Islamic boarding schools, Panji Gumilang, controversial leader of Al-Zaytun, prefers to wear western-style fashion, complete with tie. Panji is man of the hour due to series of investigations of blasphemy at the national police and his hundreds of bank accounts by the anti-money laundering agency PPATK.

April 5, 2014, national media published articles basically praising the ‘success’ of Dato Tahir (owner of Mayapada Group) in getting eight other businessmen to join the so-called Indonesia Health Fund (IHF). Tahir reportedly got US$40 million donation from them, including Ted Sioeng (owner and CEO of Xioeng or Sioeng Group).

The purchase of the used Mirage fighter jets from Qatar Air Force worth 733 million euros sparked debates in the country. Some politicians, including those from PDIP, questioned the urgency of such purchase, while lawmaker from Golkar raised concern about legality of the spending. Prabowo Subianto, minister of defense, came out to defend the decision saying modern fighter jets Rafale (France) will only arrive three to five years from now.

Indonesia Investment Authority (INA), the country’s sovereign wealth fund, has just signed an agreement with ESR Group and Mitsubishi Corporation’s MC Urban Development Indonesia for the development of multi billion dollar logistic parks in Cikarang, West Java province.