We respectfully acknowledge the passing of Baharuddin Jusuf Habibie, a respected statesman, engineer, and who served as the third president of the Republic of Indonesia. Mr BJ Habibie died on September 11, 2019 at the age of 83.

Mitsubishi Corp and JAPEX acquired 50% interest in the Kangean production sharing contract (PSC) back in 2007 from Bakrie Group with estimated enterprise value of US$720 million. Two years later, JBIC and BTMU signed syndication loan facilities of US$300 million to finance development of the so-called Terang, Sirasun, and Batur (TSB) gas fields. This year, Bakrie Group repurchased 25% interest from Mitsubishi.

Ishak Quenda, co-founder of the Duta Putra Group, has passed away on Monday (Aug 26) at 77. He leaves behind a wife, five children, and one of the largest property developers in the greater Jakarta area.

So, Bani Maulana Mulia, director of PT Samudera Indonesia (SMDR) Tbk, has just tied the knot with actress Lulu Tobing, ex wife of Danny Rukmana (grandson of the late president Soeharto). Bani is son of Masli Mulia, president director of SMDR, and Chandraleika Soedarpo (daughter of founder of SMDR).

Private equity firm Falcon House Partners, co-founded by Glenn M Yusuf (former chairman of Indonesia Bank Restructuring Agency (IBRA), has aggressively invested in the country’s hospitality industry through Ismaya Group, the Potato Head Group, and Harvest, even though there were reports two weeks ago about Falcon’s plan to leave Potato.

Former chairman of CIMB Group Nazir Razak, who is younger brother of former Malaysian prime minister Najib Razak, has established Ikhlas Capital, a private equity firm specializing in ASEAN region. The PE reportedly planned to raise US$1 billion fund at the time of questionable performance of private equity firms in the region.

Bliss means perfect happiness, great joy…Bliss Properti (POSA) seemed to provide such joy when the stock rallied from Rp150 (initial public offering/IPO price) to as high as Rp755 as of July 11. But, that’s it. Too fast too soon. The stock then collapsed to Rp112 last week before Indonesia Stock Exchange (IDX) suspending its trading.

Frans Bambang Siswanto, one of famous businessmen in Bali Island, has passed away Thursday (Aug 8) in Kuala Lumpur, Malaysia. Frans, who is chairman of Trust Securities (brokerage) and Patra Supplies and Services (catering services), leaves behind lots of assets, mostly in the property sector.

Cosmas Batubara, senior politician from Golkar Party, who is also president director of Agung Podomoro Land (APLN), has passed away few hours ago in Jakarta. Cosmas, former minister of manpower and minister of public housing during Soeharto regime, is also chairman of Intiland Development (DILD).