Moertomo Basoeki passes away
Businessman Moertomo Basoeki (Tjan Swie Tjong), owner of some toll roads in Indonesia, has on Sunday (Feb 12) passed away. He leaves behind a wife, two daughters, and three grandchildren.
Probosutedjo Family Feud?
Juniver Girsang & Partners Law Firm published one full page of announcement at Kompas newspaper this morning related to a court ruling in the case between its client Septanto Probosutedjo and other family members of the late Probosutedjo, half-brother of the late president Soeharto.
Robbyanto Budiman passes away
Businessman Robbyanto Budiman, CEO of Wahana Artha Group, one of the largest distributors of motorcycles in the country, has on February 10, 2022 passed away in Gleneagles Hospital, Singapore. The 56 years old leaves behind a wife and three children.
Djarum Group & Nickel Industry
Who’s not in the nickel industry is like who’s not in the coal mining industry many years ago. Almost all major business groups in the country have been involved in the industry, including Djarum Group, which is owned by Indonesia’s richest family the Hartonos.
Property player to watch: SPS Group
Property developer, PT Sri Pertiwi Sejati (SPS) Group will develop Cikarang International City (Cinity) as a center for commercial and residential areas in Cikarang, West Java province for Rp20 trillion of investment in its first stage. Sitting in 500 hectares of land, Cinity will be developed into a township while separating itself from the industrial area.
Baowu Steel in Indonesia
In August 2022, Reuters reported a plan from Tsingshan Holdings to sell some assets in Indonesia to Baowu Steel, one of the world’s largest steel producers with annual production capacity of 120 million tons. Both companies yet to update investors about progress of their talks, but Baowu has gained more grounds in Indonesia recently.
CATL: Here, There, and Everywhere
So, one in three electric cars uses batteries produced by China’s CATL. In the first three weeks of 2023, the company has signed three important agreements, two in China and one in Indonesia. In China, CATL signed business partnerships with NIO and NETA Auto, both are...
The Fall of TaniHub
As the digital era develops, start-ups in the agritech field have attracted attention. The aspirations of most of the founders are similar, breaking the distribution chain from farmers to buyers and strengthening the position of farmers. Several years passed with the receipt of fantastic funding by several start-ups. Out of all of them, TaniHub is one that stands out the most. However, since last year, rumors that the company went bankrupt began to emerge as the founders left. Towards the end of last week, the company finally had to face a PKPU lawsuit.
Jackson Tandiono and Nipress
The past few years have been difficult for PT Nipress Tbk (NIPS). Trading in the company’s shares has been suspended since 2020. The company is now on the verge of being delisted. The company and its subsidiaries and its affiliated companies have to face several lawsuits on Suspension of Debt Payment (PKPU). In March 2020, a PKPU lawsuit against NIPS was granted. The company resolved the dispute amicably towards the end of 2020, but the situation did not last long. Starting the end of 2021, creditors had been filing lawsuits, seeking to cancel the peace agreement. Recently, we learned that the leader of the companies, Jackson Tandiono, had been named suspect by the police in an unidentified criminal case. What a mess.
Esqa & people behind
A beauty brand Esqa by PT Keva Cosmetics International has raised US$6 million in a series A funding round led by Unilever Ventures with participation from East Ventures. The fresh funding, therefore, will be used for product development, hiring, marketing, and expansion purposes.