Modern Group: Property, Retail & Minerals
Acquisition of Jakarta Garden City from Keppel Land (Singapore) has lifted the profile of Modern Group in property sector. Modernland Realty (MDLN) booked sales revenue of Rp1.79 trillion in the first half of 2014, jumped by 72% from the same period of 2013. Higher financial charges, however, cut its net profit by 6.2%. How about the group’s retail and mining business?
Jokowi’s Inner Circle: Sintong Panjaitan Part II
As one of the retired generals in the inner circle of President-elect Joko “Jokowi” Widodo, Sintong Panjaitan is interesting not only because of his military background but also because of his extensive connection in politics and business in the country. We’ve talked about Sintong’s military background. So now let’s go beyond that.
SBY’s Precious Last Gift to Tommy Winata
President Susilo Bambang Yudhoyono will soon leave office. Today, the Constitutional Court is scheduled to announce a ruling on July 9 election disputed by Prabowo-Hatta. Whatever the Court’s ruling will be, Tommy Winata could still proceed with his ambitious resort project in Benoa, Bali Island, thanks to SBY’s generosity.
Speculations Surrounding Karen Agustiawan’s Resignation Part II
Pertamina’s Vice President for Corporate Communications Ali Mundakir told journalists some time ago that Karen Agustiawan tendered her resignation due to personal reasons and because she wanted regeneration for her position. But words on the street has it that there’s more to Karen’s resignation, and that Karen’s reason for resigning may be connected with PLN CEO’s Nur Pamudji’s resignation.
Speculations Surrounding Karen Agustiawan’s Resignation
Speculations continue on a surprise move from Karen Agustiawan to resign as CEO of state-owned oil and gas company Pertamina. Karen herself informed Pertamina workers and shareholders that she resigns for personal reasons.
Indonesian Cinema Business
The two big players in the cinema business in Indonesia are Blitzmegaplex of PT Graha Layar Prima Tbk and 21 Cineplex of PT Nusantara Sejahtera Raya. The 21 Cineplex Group was established in 1987 by Sudwikatmono in partnership with Benny Suharman, whereas Blitzmegaplex was established in 2006 by Ananda Siregar in partnership with 12 other founders. But they’re note the only one.
People on the Move: Jonan & Karen
Minister of state-owned enterprises Dahlan Iskan said this morning that he has proposed to the Final Assessment Team (TPA) led by President SBY to appoint Ignatius Jonan, CEO of state-owned railway company PT Kereta Api Indonesia, as the new CEO of PT Perusahaan Listrik Negara (PLN). Karen Agustiawan, CEO of Pertamina, meanwhile, will resign from the position as October 2014.
Miles Films and Mira Lesmana
Many Indonesian film fans would not forget the success of the Indonesian musical film “Petualangan Sherina” (Sherina Adventure). The film was directed by the young director Riri Riza and produced by Mira Lesmana in the year 2000 under PT Miles Production (Miles Films). The two-hour long musical film attracted more than 16 millions audiences across the country.
Jokowi’s Special Task Force: Who’s Who
Andi Widjajanto, deputy chief of Transition Team for president elect Joko ‘Jokowi’ Widodo, disclosed today that Prananda Prabowo, son of Megawati Soekarnoputri (Indonesia’s fifth president and chairperson of PDI-P), has been appointed head of a special task force called Satgas Jokowi, which arranges Jokowi’s activities ahead of October 20, 2014.
Starvision Plus’s Chand Parwez Servia
Chand Parwez Servia is the founder of PT Kharisma Starvision Plus. He is also the head of distribution and marketing of the Indonesian Film Companies Association (PPFI). Mr. Chand was is not a newcomer in the Indonesian film industry. In the 80s, Mr. Chand started helping his sibling’s cinema business in Cirebon, West Java. He also worked as a film distributor.