Property Player to Watch: Roda Vivatex
Used to be one of pioneers of textile industry in Indonesia, Roda Vivatex (RDTX) has expanded its property business after leaving textile business three years ago. RDTX informed market authorities on Monday (Oct 23) that one of its subsidiaries, PT Chitatex Peni, has signed agreement with Sinarmas Group’s Bumi Serpong Damai (BSDE) and PT Serasi Niaga Sakti for another property project in Serpong, Banten province.
Property Player to Watch: Stareast Group
Stareast Group, as described by its website, is an Indonesian based private investment firm engaged in various industries such as real estate, hospitality, asset management, transportation, and retail businesses. The group is also partner of Tommy Soeharto (Humpuss Group) in developing Pecatu Indah Resort project, a resort complex in the south of Bali Island with 400 ha of areas. Who’s behind?
Ilham Habibie & Bank Muamalat
It is official! As we reported two weeks ago, Ilham Habibie, son of Indonesia’s third president BJ Habibie, is the man behind Minna Padi Investama’s acquisition of 51% shares in Bank Muamalat, pioneer of sharia banking in Indonesia. Given Ilham’s background, he is certainly supported by wealthy investors.
Big Groups in Financial & Technology Ventures (2): Sinarmas Group
Sinarmas is one of the largest business groups in Indonesia with interest in agriculture, energy, finance, forestry, mining, multimedia, property, and telecommunication. The group has also entered digital ventures, and, in fact, secured fintech license from the Financial Services Authority (OJK) last July.
Revisiting Tommy Soeharto: Business & Politics
Vice President Jusuf Kalla witnessed the signing of memorandum of understanding between PT Humpuss Intermoda Transportasi Tbk (HITS), a company owned by Tommy Soeharto (youngest son of the late president Soeharto), and Belgian company Exmar NV in Brussels Tuesday (Oct 10).
Didi Dawis & His Hospitality Business Bet
Kompas newspaper published a half-page congratulation advertisement for the wedding of Budi D. Dawis, son of businessmann Didi Dawis, a long-time chairman of QAF Limited (controlled by Salim Group), and Janet Prasetio, daughter of Hendry Halim and Diana Prasetio, Monday (Oct 9).
Bumi Hasta Mukti & People Behind
PT Bumi Hasta Mukti is said buyer of Chevron’s 25% interest in South Natuna Sea Block B, one of the largest oil and gas producing blocks in the country. The acquisition consideration has not been revealed, but given the previous valuation of the block, we might talk about over US$100 million of deal.
The Controversial Kim Johanes Mulia
Kim Johanes Mulia, the former owner of the troubled Kartika Airlines, has been alleged of fraud. Kim Johanes Mulia is no stranger to controversy. He was mentioned in various criminal cases including the Bank Bali case.
Big Groups in Financial & Technology Ventures (1): Salim Group
Anthoni Salim, CEO of Salim Group, one of the largest business groups in Indonesia, confirmed earlier about his intention to grow financial technology (fintech) services business with significant investment. Anthoni provided no further detail, but the group’s quest to become key player in fintech can be seen in investments in financial and technology ventures.
Consolidation of Soeryadjaya-Thohir’s Gold-Copper Assets
Two weeks ago we speculated about possible consolidation of Finders Resources Ltd, owner of Wetar copper project in Maluku province, into IDX-listed PT Merdeka Copper Gold Tbk (MDKA). Today, Finders informed Australia Stock Exchange (ASX) that a consortium, where MDKA is a member, has offered an off-market takeover for all of the shares in Finders.