Revisiting Prabowo’s Assets (1)
Public debate continues surrounding State assets controlled by president candidate Prabowo Subianto. The issue emerged when Prabowo indirectly expressed his pessimism about incumbent candidate Joko ‘Jokowi’ Widodo’s land reform program, including social forestry program, saying the available land is limited for redistribution. Jokowi replied by indirectly saying ‘well, you’re among those controlling huge concessions….’
Eka Tjipta Widjaja & Sinarmas Empire (3)
Sinarmas Group’s assets have long been managed by second generation of the late Eka Tjipta Widjaja. Two of the children established their own groups outside the generic name Sinarmas Group, including Sukmawati Widjaja’s Top Global Limited (SGX-listed) and Oei Hong Leong’s Chip Lian Investments. Some of the third generation have been seen in managing the Sinarmas companies.
Eka Tjipta Widjaja & The Sinarmas Empire (2)
Not only leaving a business empire, Eka leaves behind a big family, whose key members are widely known, but others are mostly unknown. Without the tsar, some wonder what kind of Sinarmas will be in the future. First of all, Eka has a nucleous family, i.e. children...
Eka Tjipta Widjaja & The Sinarmas Empire (1)
Eka Tjipta Widjaja, founder of the Sinarmas Group, has passed away Saturday (Jan 26) at 98. He leaves behind a business family worth over US$20 billion with interest in various sectors of the economy—-agriculture, consumer products, forestry, finance, mining, power generation, property, pulp & paper, telecommunication, and new economies (fintech, digital ventures).
Wiwiek Tjokrosaputro Passes Away
Wiwiek Tjokrosaputro (Kwee Hwie Lan), mother of Anne Patricia Sutanto, vice president director of textile giant PT Pan Brothers Tbk (PBRX), passed away in Jakarta Monday (Jan 7). The late Wiwiek is sister of the late Handoko Tjokrosaputro (Batik Keris Group).
New Leaders of Freeport Indonesia
PT Freeport Indonesia, one of the world’s largest copper and gold miners, has appointed new board of commissioners and directors, after 51% shares controlled by Indonesian entities. Richard Adkerson becomes chairman, while Tony Wenas as president director.
Indra Wonowidjojo
Indra Gunawan Wonowidjo (32 years old), son of Susilo Wonowidjojo—one of the heirs of Gudang Garam Group, made headlines in the past few days because of his extravagant wedding in Singapore recently.
Huawei Operations in Indonesia
Following the arrest of Huawei director by Canada and intense scrutiny from USA and its allies over ties of Chinese tech companies to Beijing government, some sources told Reuters that Japan plans to ban government purchases of equipment from Huawei and ZTE Corp. Implications to Indonesian operation?
Revisiting Luhut’s TOBA
Unlike other coal miners, shares of PT Toba Bara Sejahtra Tbk (TOBA) ended lower by 1.6% to Rp1,565 on Monday (Dec 3rd). At this price, TOBA had market capitalization of Rp3.15 trillion, slightly above its equity (Rp3 trillion by Sept 30, 2018). The stock has also been consistently traded way below peers despite strong performance in the first nine months of 2018.
Dwi Soetjipto Finally
Dwi Soetjipto, former president director of state oil and gas company Pertamina, has on Monday (Dec 3rd) been sworn in new chief of the Upstream Oil and Gas Special Task Force (SKKMigas) to replace Amien Sunaryadi.