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.
Those Continue to Expand: Siam Cement Group
SCG Chemicals, unit of Thailand-based Siam Cement Group, made a very good bet in acquiring 30% shares of petrochemical giant PT Chandra Asri Petrochemical Tbk (TPIA) in September 2011 for US$441 million only. Today, SCG controls 31% shares worth around US$2.3 billion. Chandra Asri has since continued multi-billion dollar expansions.
Samin Tan & His Borneo Lumbung
Creditors, the government, and suppliers, struggled to get payments from Borneo Lumbung Energi and Metal (BORN) for many years, but Samin Tan, the controlling shareholder, has shown that he was still a rich person.
Hary Tanoe’s Companies Ahead of 2019 Election
Most companies under MNC Group yet to release their financial statement for the period ended March 31, 2018. Property arm PT MNC Land Tbk (KPIG), however, reported net profit of Rp7.1 billion in the first quarter of 2018, significantly better than the corresponding period of 2017, even though sales and gross profit actually declined 25% and 11% respectively.
New People around the President
President Joko ‘Jokowi’ Widodo has appointed four new special staffs. They will help the President in addressing government’s public communication and issues related to Islam at home and overseas, plus economic affairs. Who are they?