Mowilex founder Agus Sasmito passes away
Maria Agustinus Agus Sasmito, founder of PT Mowilex Indonesia, one of the largest producers of paint in the country, has just passed away at 83 in Singapore. He leaves behind a wife, two daughters, and four grandchildren.
Bank INA & Salim Group
We have long speculated about what Salim Group would do following the acquisition of Bank INA Perdana (BINA). After a relatively slow start, BINA has in the past few months expanded significantly, thanks to broader support from the so-called ‘Salim Group Ecosystem’.
Adiguna Sutowo passes away
Adiguna Sutowo, co-founder of MRA, a diversified business group with interest in media, hospitality, retail, consumer electronics, and automotive, has passed away. Adiguna is son of the late Ibnu Sutowo, the controversial former CEO of state oil and gas company Pertamina, whose family controls Nugra Santana Group.
Arsjad Rasjid vs Anindya Bakrie
Arsjad Rasjid MP, CEO of Indika Energy (INDY), and Anindya Bakrie, CEO of Bakrie & Brothers (BNBR) are competing to become the next chairman of Indonesian Chamber of Commerce and Industry (KADIN Indonesia), replacing Rosan P Roeslani, former CEO of Berau Coal Energy (BRAU) and partner of Sandiaga Uno at Recapital Advisors.
The End for Joker?
Joko Tjandra surprised the nation with his appearance in the country last year. The incident caused a stir because he was supposed to be an international fugitive but no one noticed his arrival to Indonesia except the Attorney General's Office (AGO). After that,...
Uripto Widjaja passes away
Uripto Widjaja, founder of Galva Group, has just passed away, leaving behind a wife, two children and four grandchildren. Uripto was blessed with long life, passing away at 97 years old.
On Jiwasraya’s Graft Case : Another Lawsuit from Benny Tjokro
The Corruption Court of the Central Jakarta District Court continues to examine the latest defendant in the case of corruption involving PT Asuransi Jiwasraya (Persero). One person refused to surrender. On March 31, 2021, Benny Tjokro filed another lawsuit against the Supreme Audit Agency (BPK) at the State Administrative Court (PTUN Jakarta). This is the third lawsuit Benny has filed against the BPK since April 2020. Before that, Benny also sued a senior auditor of the BPK and the Solicitor General for Specific Crimes.
EV Disruption Players: Elvindo Group
For many decades, the country’s motorcycle market has been dominated by Japanese brands like Honda, Yamaha, Suzuki and Kawasaki. Indonesia is one of the world’s largest markets for motorcycle, among others due to poor public infrastructure, with a population of 112 million motorcycles in circulation. Some people see this a big market for conversion from internal combustion engine (ICE) to electric motorcycle.
Haji Isam, Tax Case & Politics
On Thursday (March 18), investigators from the Corruption Eradication Commission (KPK) searched the office and other compounds related to Jhonlin Baratama, a company controlled by Haji Isam, in South Kalimantan. On Friday (March 15), the Constitutional Court ruled in favor of Denny Indrayana related to dispute over South Kalimantan governor election results.
Shamrock Group
European plantation group SIPEF, which operates oil palm, natural rubber, and tea plantations in Indonesia, has recently signed an agreement in principle with Shamrock Group (SG) on the sale of 100% of the share capital of its Indonesian subsidiary, PT Melania, for US$36 million.