‘Targeting’ Sampoerna
Riau Regional police (Polda) has named PT Nasional Sago Prima (NSP), subsidiary of Sampoerna Agro (SGRO)—controlled by Sampoerna Family, suspect in forest fire incidents in Riau Province, which sent out smog to neighboring countries like Singapore and Malaysia. SGRO’s shares dropped 3.3% Wednesday but on thin trading volume.
Inconsistent SBY
Five days ago, in a cabinet meeting, President SBY reminded his cabinet members to remain focused on their official duties. But on Wednesday (Mar. 12), the president failed to lead by example. President SBY, who is also Chairman of the Democratic Party, decided to take official leave in order to join other leaders from his party to go on the campaign trail.
Perspective: Factory Workers and Their Thoughts on Jokowi
There are those who are eager to hear the news of Joko “Jokowi” Widodo’s nomination as the presidential candidate of the Indonesian Democratic Party of Struggle (PDI-P). These are the people who believe that Jokowi can change the nation for the better. We wonder how widely this eagerness is shared. We spoke to a family of factory workers in Jakarta and listened to what they have to say.
Hary Tanoe’s All-out Politics (Part II)
Hary’s country-wide political tour raised a few questions, one of which is whether or not Hary helped finance the tour. We don’t know just how much Hary contributed to Hanura. But the fact is that Hanura is the political party with the third largest campaign fund behind Prabowo Subianto’s Gerindra Party and President SBY’s Democratic Party. According to Hanura’s campaign fund report submitted to the General Election Commission last week, its campaign fund reached Rp241 billion.
Hary Tanoe’s All-out Politics (Part I)
We’ve talked a lot about Joko Widodo and Prabowo Subianto, because both of them are the strongest figures in today’s assumed pool of presidential candidates. But we haven’t really talked at great length about Hary Tanosoedibjo. The media mogul is, after all, Hanura party’s vice presidential candidate.. Hary Tanoe matters not because he has a chance at winning 2014 — it’s unlikely. Hary matters because of his future in politics and the extent to which it would impact his companies.
Presidential Hopefuls and their Plan B
There are a lot of ambitious figures vying for the Indonesian Presidency. Some of them may have even spent a massive sum of money to campaign for themselves. But only one one them can win the race. So the question is, for those who lose the race, do they have a plan B?
Understanding Jokowi’s Leadership through the Transjakarta Procurement Project
The media has intensified its coverage on the irregularities surrounding projects under the Jakarta administration, one of which is the procurement of defective, new fleet of Transjakarta (and its feeder) buses (hereinafter shall be referred to as the TJ project). Lately the focus has been on a particular person who is supposedly close to Governor Joko “Jokowi” Widodo.
Bosowa Group & Its Aggressive Expansion (III)
Aggressive expansion financed with loans has forced Chairul Tanjung to seek refinancing facilities in the past few months. Other than acquiring retailer Carrefour Indonesia, Chairul decided to invest heavily in flag carrier Garuda Indonesia (GIAA). Some still don’t understand why he entered airline business in the first place. How about Bosowa Group?
Growing Interests in Manufacturing (5): Salim Group & Steel Industry
Iron, steel, and steel products are key items imported by Indonesia. Last year, total import value of these products reached US$15 billion. Other than global steel players like POSCO, Nippon Steel, and Essar Steel, it is interesting to watch expansion of Salim Group in the business. We have repeatedly reported about the group’s investments in iron ore and iron sands. How about iron and steel making?
Victor Hartono, Djarum & Salim Group
Djarum Group’s owners, Robert Budi Hartono and Michael Bambang Hartono, dominiate Indonesia’s rich list (Forbes magazine’s version) in the past few years, thanks to their holdings in Bank Central Asia (BBCA). Acquired from Salim Group through Indonesia Bank Restructuring Agency (IBRA) in early 2001 for US$675 million, BCA now has market capitalization of US$23 billion.