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.
PT Jakarta Propertindo
Governor Joko “Jokowi” Widodo and Vice Governor Basuki “Ahok” Tjahaja Purnama both have a big vision for Jakarta. To achieve their vision, the Jakarta administration must focus on infrastructure development. The pair knows that relying on the speed of bureaucracy will not get the much needed city infrastructure built on time. As such, they rely on the help of one of the city’s region-owned enterprise (BUMD) to speed things up. Today, we’ll talk about PT Jakarta Propertindo.
Social Entrepreneurship: Indonesia Medika
Indonesia Medika (InMed) is a very young enterprise. The healthcare company was founded by Gamal Albinsaid, a medical student from Brawijaya University, Malang, East Java in 2010. But the company itself had only begun its operation in September 2013. InMed is best known for its award-winning Garbage Clinical Insurance program. We spoke to Gamal Albinsaid, the CEO of InMed, to give you a glimpse of his vision.
New Constitutional Court Justices: Aswanto
In addition to confirming Wahiduddin Adams as the new justice of the Constitutional Court, the House of Representatives (DPR) also confirmed Aswanto. Both Wahiduddin and Aswanto will replace disgraced former chief justice Akil Mochtar and justice Harjono. Herein is the profile of soon-to-be-appointed justice Aswanto.
New Constitutional Court Justices: Wahiduddin Adams
The House of Representatives (DPR) has confirmed Wahiduddin Adams and Aswanto as new Justices of the Constitutional Court. So, who are they? We’ve mentioned the background of both men briefly in our previous article on the list of justice candidates. In this occassion we’ll focus on providing you with a little more detail on the two confirmed justice candidates. Herein is a profile of Wahiduddin Adams.
Nursalim Family & Political Changes
The family of Sjamsul Nursalim controls some of Indonesian major companies including Gajah Tunggal (tire), Polychem Indonesia (petrochemicals), Mitra Adiperkasa (retail), KMI Wire (cable), and Equity Development (finance). The family, which controls Tuan Sing Holdings—a big property developer in Singapore, also owns some properties in Jakarta, Bali, and other areas in the country. What a political change means to the family’s business in Indonesia?
Growing Interests in Manufacturing Sector (4): PBRX
Textile used to be Indonesia’s largest earner of hard currency. Higher labor costs and competition from China, Vietnam, Sri Lanka, etc, however, forced some Indonesian producers to give up export market. Some companies listed on Indonesia Stock Exchange (IDX) have even changed their business to palm oil or mining. Pan Brothers (PBRX) is one of few players staying in the business.
What Would Ahok Do?
Vice Governor Basuki “Ahok” Tjahaja Purnama is perhaps the second most popular man in Indonesian politics today after Joko “Jokowi” Widodo. His no-nonsense style of leadership has been criticized as much as it has been praised. With Jokowi’s possible ascent to the most powerful office in the country, people are beginning to wonder where Ahok fits in the picture.
Imagining Prabowo’s Cabinet: Possible Names
Gerindra Party has openly criticized PDI-P for revealing names of potential cabinet members. But the truth is that on Aug. 19, 2013, Gerindra had come out saying that they had already drafted their own cabinet members in anticipation of a Prabowo win. Unfortunately we don’t have the list. We can, however, attempt at deducing who may have made it in.