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).

She was appointed acting chief executive officer (CEO) of the giant state electricity company PT Perusahaan Listrik Negara (PLN) last Friday. People were busy in the social media talking about her background and relationships with state-owned enterprise minister Rini Soemarno when a blackout, the worst in 17 years, hit most areas in the Greater Jakarta, Banten, and West Java occurred Sunday.

Marzuki Tanmizi, founder of the group owning PT Intanwijaya Internasional (INCI) Tbk, has passed away on July 30, 2019 in Tan Tock Seng, Singapore. Marzuki a.k.a Tan Han Pang leaves behind three sons and six daughters.

Visi Media Asia (VIVA), parent of TVOne and ANTV, booked net loss of Rp233 billion in the first half of 2019, expanded by 14.4% from the same period last year. Unlike Media Nusantara Citra (MNCN) and Surya Citra Media (SCMA), which posted 15.2% and 6.9% growth respectively, VIVA’s sales revenues fell 18.5% to Rp1.12 trillion.

As reported earlier, Kusnadi Rahardja has filed a tort lawsuit against PT Sushi-Tei Indonesia. Kusnadi, meanwhile, is the founder of Boga Group, which opened more than 150 restaurant outlets. Boga Group is among fast growing players in the F&B market through its famous brand Bakerzin, catering industry, and some other brands.