Huawei in Indonesia
China’s technology giant Huawei is among major foreign companies with significant sales revenues in Indonesia. PT Huawei Tech Investment, one of the subsidiaries, is now even the largest shareholder of Bakrie Telecom (BTEL), the troubled telco company of Bakrie Group.
People on the Move
There might be some interesting movements of people in major state companies in the coming days, including flag carrier Garuda Indonesia (GIAA), state port management company Pelindo III, and two major energy companies Pertamina and Perusahaan Listrik Negara (PLN).
Pressure All Over Lippo
Lippo Karawaci (LPKR) and Lippo Cikarang (LPCK) yet to release their first half financials results, but investors continue to speculate on financials of the whole group. Companies like Matahari Putra Prima (MPPA), Siloam Hospital (SILO), LinkNet (LINK), First Media (KLBV), Nobu National Bank (NOBU), Multipolar Technology (MLPT) have released their respective financial statements with mixed results.
People on the Move
As predicted, President Joko “Jokowi” Widodo removed Agus Gumiwang Kartasasmita—who has just been appointed as the new Minister of Social Affairs—from his national campaign team. Agus can thus focus on his new job in the cabinet. His replacement is businessman Jusuf Hamka.
Bayan Group & Politics
Coal giant Bayan Resources (BYAN) booked net profit of US$271.8 million in the first half ended June 30, 2018, significantly bigger than Adaro Energy (ADRO), which posted net profit of US$218.8 million in the same period even though BYAN’s sales revenues were around half of ADRO. Like ADRO shareholders, owners of BYAN enjoyed US$132.2 million of dividend in the first half of 2018 against zero in the same period last year.
Nicke Widyawati as CEO of Pertamina?
The acting CEO of PT Pertamina (Persero) Nicke Widyawati has been mentioned as the likely definitive CEO of Pertamina. Several of our sources in the Ministry of State-Owned Enterprises (BUMN) and the Ministry of Energy and Mineral Resources (ESDM) have said that Nicke is indeed a strong candidate for the position, and that her name is already on the list of candidates to be considered by President Joko Widodo (Jokowi).
Agus Gumiwang Kartasasmita
The promotion came early for Agus Gumiwang, lawmaker from Golkar Party, who is son of Ginandjar Kartasasmita, one of prominent figures in Indonesian politics. As deputy treasurer of campaign team for Jokowi-Mar’uf in 2019 election, we thought he would be in the next cabinet if Jokowi is reelected. Agus, however, entered the cabinet earlier because fellow party man Idrus Marham is implicated in bribery case of businessman Johannes Kotjo.
Revisiting Tempo Scan Pacific & Muljadi Family
The arrest of Richard Muljadi for the alleged possession of cocaine has made Tempo Scan Pacific (TSPC) in the headlines. Richard is grandson of the late Djojo Muljadi, founder of TSPC, one of the largest pharmaceutical companies in Indonesia.
The New Bareskrim Chief Arief Sulistyanto
The new Chief of the National Police’s Criminal Investigation Division (Kabareskrim POLRI) Arief Sulistyanto was sworn in a few days ago. Arief’s appointment is clearly a part of further consolidation of power of President Joko “Jokowi” Widodo and the Police Chief...
Jokowi-Mar’uf Campaign Team: Interesting Names (1)
The National Campaign Team of incumbent president Joko ‘Jokowi’ Widodo and his running mate Mar’uf Amin has been submitted to the General Election Commission (KPU). There are some interesting names, which might shape the next cabinet, if Jokowi is reelected. Who are they?