Jokowi’s Inner Circle: Heru Budi Hartono
Heru Budi Hartono has been appointed new head of presidential secretariat replacing Dharmansyah Djumala, who has been appointed Indonesian Ambassador to Austra in Vienna. Heru, former head of Financial and Asset Management Board of Jakarta provincial administration, was once named vice governor candidate by then governor Basuki Tjahaja Purnama (Ahok).
People on the Move
Ivy Santoso has been appointed CEO and director of Acuatico Pte Ltd, a principal subsidiary of Moya Holdings Asia Limited. Moya Holdings is a company controlled by Antoni Salim (Salim Group) engaged in water infrastructure business with main operation in Indonesia.
Modern Group & The Collapse of 7-Eleven (2)
Has the collapse of 7-Eleven affected Modern Group’s other businesses, including Moderland Development (MDLN)? Modernland is one of the largest property developers in the country with total assets of Rp14.4 trillion by March 31, 2017.
Salim Group & The Tourism Industry
Kontan business paper reported yesterday that PT Bintan Resort Cakrawala, indirect subsidiary of Salim Group, and Sriwijaya Air are developing integrated airport (runway and terminal) and maintenance repair overhaul (MRO) facilities in Bintan Island, Riau Islands province with investment between US$100 million and US$150 million.
Revisiting Bakrie Sumatra Plantation
Bakrie Sumatra Plantations (UNSP) is actually among the oldest plantation companies in Indonesia which claimed of having over 80,000 hectares of planted area for oil palm (65,713 hectares) and natural rubber. The planted oil palm area is only slightly below Sawit Sumbermas Sarana (SSMS), which currently has market value of US$1.1 billion. After stock consolidation, however, UNSP has market value of Rp277 billion only.
Revisiting Susilo Wonowidjojo’s MAKIN GROUP
Gudang Garam (GGRM), second largest cigarette player, currently has market capitalization of US$11 billion, one-third of HM Sampoerna. This makes Wonowidjojo among the richest families in Indonesia. How about plantation giant Makin Group, which is developed and owned by Susilo Wonowidjo, CEO of Gudang Garam?
Martua Sitorus & Speculations
Indonesian businessman Martua Sitorus has been subject of speculations surrounding Felda Global Ventures Holdings Berhad in the past few months. Last week, however, freemalaysiatoday.com quoted sources saying talks to sell stakes in FGV to Martua Sitorus and Peter Sondakh have been suspended due to a management crisis at the world’s third bigges palm plantation group.
Revisiting Gita Wirjawan’s Ancora
In October 2016, Gita Wirjawan, former minister of trade under SBY administration, pulled out from the race to lead Badminton Association of Indonesia (PBSI) for 2016-2020 despite support from 12 provincial chapter for his reelection. Gita argued that he wanted to see General (ret) Wiranto, who is coordinating minister for politics, security, law and human rights, elected unanimously by regional leaders of the organization.
Lion & Wilmar JV in Palm-Based Surfactants
Lion Corporation, one of the world’s largest consumer goods players, which is partner of Wings Group in Indonesia, announced last week a plan to establish a joint venture company in order to advance plant-based surfactant (methyl ester sulfonate/MES) business with the Wilmar International Limited Group, a major Singapore-headquartered agribusiness group with palm oil and oleochemical operations in Indonesia.
Those Continue to Invest in Indonesia: Pigeon
Pigeon Corporation, based in Japan, is one of the largest manufacturers of baby product. In the fiscal year 2016, Pigeon generated sales revenue of 94.6 billion yen with gross profit of 44.7 billion yen. In the fiscal year 2019, Pigeon targets net sales of 110 billion yen, of which China is expected to generate 35%. How about Indonesia?