Debts & Cash-Flows of State EPC Firms: Hutama Karya
PT Hutama Karya, the state-owned EPC firm assigned to develop trans-Sumatra toll road, has just released its financials for the period ended June 30, 2018. The Company booked net profit of Rp614.2 billion in the first half, surged by 70% from the corresponding period last year. Hutama Karya also turned to cash-positive.
Clowns of the 21st Century (2)
One is busy looking for a ticket to become president candidate, while the other is busy with discussions surrounding vice president candidate for the likely president candidate. One is busy with lipbalm, the other with his endlessly whining mouth. It is unfortunate that we will have to live with these clowns for more than four years more.
Jokowi’s Likely Running Mate: Mar’uf Amin
We have long speculated on Mar’uf Amin, chairman of The Indonesian Ulema Council (MUI), as potential running mate for incumbent president Joko ‘Jokowi’ Widodo. Shortly after devastating loss of Basuki Tjahaja Purnama (Ahok) in Jakarta election, Jokowi switched gear to accommodate more Islam narratives. Jokowi has since been seen frequently in public with Mar’uf.
Clowns of 21st Century: Anies & Sandi
So, Jakarta governor Anies Baswedan blamed his predecessors for not paying attention to cleaning up Kali Item. The governor also blamed national media for reporting the city administration’s way of handling the stinky river, which then picked up by international media. Basically Anies believes that international media simply translated reports of national media. Don’t be surprised to see seas of negative comments from readers. They agree that Anies and his deputy Sandiaga Uno are clowns of the 21st century….
Gozali Brothers & Their Businesses
PT Success Venture Serviced Suites Investments, wholly-owned subsidiary of SGX-listed UOL Group Limited—-parent of Pan Pacific Hotels Group, has entered into sale and purchase agreements with PT Putragaya Wahana for the acquisition of 180 apartment units for an aggregate cash consideration of US$56.3 million.
Johannes Kotjo Arrested: What’s Up?
So, the Corruption Eradication Commission (KPK) has arrested Golkar lawmaker Eni Maulani Saragih and businessman Johannes Budisutrisno Kotjo Saturday (July 14) in bribery case. Kotjo is accused of bribing Eni Saragih, who is deputy chairman of House Commission VII (overseeing energy, mining, and environmental affairs), around Rp4.7 billion.
Ishak Charlie & His US$7.4 Billion Project
Ishak Charlie, owner of Best & Grow Investment, a diversified business group based in Medan, North Sumatra, met industry affairs minister Airlangga Hartarto, who is also chairman of Golkar Party, on Monday (June 25) in Jakarta to discuss the so-called Golden Integrated Industrial Port Estate (GIIPE) project in Medan. Charlie plans to develop 2,000 hectares of land into an industrial estate (1,000 hectares), power generation, and port estate.
Those Continue to Expand: Nursalim
The Corruption Eradication Commission (KPK) has proceeded with the case of Syafruddin Arsyad Temenggung, former chairman of Indonesia Bank Restructuring Agency (IBRA), related to settlement of debts of tycoon Sjamsul Nursalim stemmed from the collapse of BDNI two decades ago. This, however, doesn’t stop Nursalim from expanding business in the country.
Cash-Rich Groups & Political Financing (2)
Thermal coal ended slightly lower at US$109.55 per ton Friday (June 8), but this represented 37.45% gain year-on-year. Despite policy dirsuptions at home, i.e. capping of coal price for domestic market obligation (DMO), coal producers, probably with the exception of Bakrie Group, are mostly cash-rich.
Revisiting Djuhar Sutanto
Djuhar Sutanto is the only member of the famous Gang of Four (a group of businessmen close to then Soeharto regime) still alive. Three others—-Soedono Salim, Ibrahim Risjad, and Sudwikatmono—-had passed away. While little that we know about Djuhar family’s business in Indonesia, they have very strong presence in China.