bloomberg.com reported yesterday that the stunning fall of Duniatex Group’s US$300 million Bonds, four months after BNP Paribas SA and Standard Chartered Plc arranged the bond sold, has shocked bonds investors. May be they shoudln’t.

General Andika Perkasa has been leading the Indonesian Army (TNI AD), which is dubbed as the most powerful military branch in the country, for almost eight months as the Army Chief of Staff (KSAD). But so far, Andika is considered very quiet, including during the 2019 simultaneous presidential-legislative elections and the riots broke after the elections. Some started to question his competency. While others believe that he’s working in silence.

Official website of cabinet secretary (setkab.go.id) posted an article about commitment from ministry of finance to collect Rp1.76 trillion of payments from Bakrie-related entities PT Minarak Lapindo Jaya/Lapindo Brantas Inc related to the bridge financing of hot mudflow disaster in Sidoarjo, East Java.

Kawasan Industri Jababeka (KIJA) is an attractive company because of its two growth projects, which could be significantly benefited from development of toll roads. They are the Kendal Industrial Park in Kendal, Central Java, and Tanjung Lesung in Banten province. The future of Jababeka, however, depends on settlement of disputes between group of shareholders.

Shares of industrial estate developer Jababeka (KIJA) dropped further by 4.4% to Rp304 Monday (July 8), when the company issued a warning about possible default of its US$300 million Notes following a management change approved by 52.117% of shareholders two weeks ago. The management said there were parties acting in concert related to the change.

So, the respected Bandung Institute of Technology (ITB) has awarded an Honorary Doctorate degree to Theodore Permadi Rachmat (TP Rachmat), owner of Triputra, one of the largest business groups in Indonesia. The man is known partner of Boy Garibaldi Thohir, Edwin Soeryadjaya, and the late Benny Subianto in Adaro Indonesia (ADRO), the second largest coal group in Indonesia.

Businessman Jauw Tjong Kie, who brought Sharp Corporation to Indonesia through PT Yasonta, has passed away in Singapore Thursday (June 20) at 98. Born in China, October 1922, Tjong Kie leaves behind seven children and 19 grandchildren. Tjong Kie is considered pioneer of electronics industry in Indonesia with the establishment of the first assembling facility for TV in 1975.

National media reported Saturday (June 15) that PT Ceria Nugraha Indotama (CNI) had kicked off construction of US$1 billion ferronickel smelter in Wolo sub-district, Kolaka Regency, Southeast Sulawesi province. The smelter, with design capacity for nickel equivalent of 50,400 tons per annum (US$600 million at US$12,000/ton), is scheduled for commercial operation in 2021. Who’s behind the project?

Visi Media Asia (VIVA), parent company of ANTV and TVOne, reported net loss of Rp90 billion in the first quarter of 2019. Surya Citra Media (SCMA), parent of SCTV and Indosiar, meanwhile, recorded net profit of Rp400 billion. Hary Tanoesoedibyo’s Media Nusantara Citra (MNCN) also posted net profit of Rp548 billion in the quarter, nearly doubled from the corresponding period of 2018. What happened to VIVA, a company controlled by Bakrie Group?