Demands for Joker
Joko Tjandra’s appearance last year caused a stir and led to investigations on three new cases, two of which were investigated by the POLRI. The cases are one general crime namely case of alleged forgery and obstruction of justice, the other is a specific crime namely case of alleged bribery. Towards the end of the same year the East Jakarta District Court had convicted all defendants in the case of forgery. Meanwhile, a corruption examination began in November 2020. Joko Tjandra and two police generals alongside his friend Tommy Sumardi are the defendants. On March 4, 2021, the prosecutors read their demands for Joko.
SWF Directors: Who’s Who (2)
President Joko “Jokowi” Widodo has announced the board of directors of the newly established Lembaga Pengelola Investasi (LPI), Indonesia’s version of Sovereign Wealth Fund (SWF). We noted two of the directors in the previous installment of this article. Today we note the other three.
SWF Directors: Who’s who (1)
President Joko ‘Jokowi’ Widodo has finally announced the board of directors of Lembaga Pengelola Investasi (LPI), Indonesia’s version of Sovereign Wealth Fund (SWF). Senior banker Ridha DM Wirakusumah is appointed CEO, while four other directors are Arief Budiman (deputy CEO), Eddy Porwanto Poo (CFO), Stefanus Ade Hadiwidjaja (investment director), and Marita Alisjahbana (risk director). Who are these guys?
Nickel Groups of Indonesia (5)
Some nickel players reported substantial profit from investments in the smelters, but others failed for various reasons, including selection of technology. That’s probably why one of the nickel companies listed on Indonesia Stock Exchange (IDX) is valued only slightly above equity while peers are now traded three-four times equity.
Nickel Groups of Indonesia (4)
Some emerged as nickel players because of their ability to get nickel mining area previously studied or explored by Vale Indonesia (INCO). Over the years, Vale relinquished tens of thousands of hectares to the State. Some blocks have been taken, but winners of the recent auctions yet to be announced.
Nickel Groups of Indonesia (3)
One group with around 50,000 hectares of nickel concession in Central and Southeast Sulawesi province has been widely linked to retired military and police officers. During the presidential election campaign in 2019, Lt General (ret) Prabowo Subianto, then candidate, was said owner of the group. Prabowo’s camp, of course, strongly denied.
Nickel Groups of Indonesia (2)
Compared to state-owned mining company Aneka Tambang (ANTM), which sits over a huge nickel resources, some private-owned groups have been more aggressive in developing their reserves. These groups not only developed nickel pig iron (NPI) and ferronickel (FeNi), but nickel and cobalt sulphates, which are key precursors for electric vehicle (EV) batteries.
Nickel Groups of Indonesia (1)
Interest in electric vehicle ecosystem continues to grow. Indonesia is a hotspot in the ecosystem because of its nickel resources. Who controls the resources? We have identified some groups or business families with interest in the sector.
SWF Key Persons: The Supervisors
The House of Representatives (DPR) confirmed three names promoted by President Joko ‘Jokowi’ Widodo as members of the supervisory board of the newly established Sovereign Wealth Fund (SWF). They are Darwin Cyril Noerhadi, Yozua Makes, and Haryanto Sahari. Who are they?
Stephen Ignatius Suharya passes away
Just four months after the passing of his father Athanasius Tossin Suharya (Yo Tae Siang), popular as AT Suharya, Stephen Ignatius Suharya passed away on Sunday (Jan 17, 2021) at 48 years old. Stephen is Chief of Marine Business of Baramulti Group, one of major coal players in the country.