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?
JBIC-Japanese Banks in The 35,000 MW Program
The Japan Bank for Internationak Cooperation (JBIC) and Japanese banks like The Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank, and Sumitomo Mitsui Banking Corporation (SMBC) continue to dominate financing of power plant projects in Indonesia, including those under Jokowi-Kalla’s ambitious 35,000 MW program.
Endless Pressures on Hary Tanoe
Hary Tanoesoedibjo, businessman-cum-politician, is scheduled for examination as crime suspect by the national police today. In the meantime, some bureaus of Koran Sindo, a newspaper controlled by Hary’s MNC Group, will reportedly be closed down, threatening a mass layoffs of journalists.
Revisiting Sinar Mas Agro (SMAR)
PT Smart Tbk (SMAR), controlled by Sinarmas Group, has just completed placement of 138 million shares to some investors to comply market regulation on minimum 7.5% shares owned by public investors.
New Equity to Watch: Kirana Megatara (KMTR)
Shares of Kirana Megatara (KMTR), one of the largest natural rubber processing companies in Indonesia, fell 18.32% last Thursday (June 22) on profit taking by some investors after the stock gaining more than 100% in the trading debut on Indonesia Stock Exchange (IDX). Started out its trading on IDX at initial public offering (IPO) price of Rp458, the stock then jumped to Rp1,000 on the trading debut.