From JokoWHEE to JokoWHA?
On Feb. 11, 2014, vice presidential hopeful from Hanura Party, Hary Tanoesoedibyo, spoke to his fellow partymen in Banyuwangi. In his talk, Hary spoke briefly about Jokowi about whom he said, “His time is up.” Hary Tanoe was referring to Joko “Jokowi” Widodo’s declining electability as reported recently in a number of surveys. The question is, of course, whether Hary is right to then conclude that the Governor of Jakarta is done for.
Wilmar International: Acquires More, Generates Less
Shares of Wilmar International gained 1.51% to S$3.36 Thursday (Feb 20). It is, however, nowhere near its peak early last year and still not even half of its value four years ago. The company generated net profit of US$1.32 billion last year, grew 5.1% from 2012, but represented net profit margin of 3% only. Wilmar, however, continues its acquisition spree. This time, it acquires India-based sugar player Shree Renuka Sugars Limited.
Bakrie Group & The Changing Dynamics
Asia Resource Minerals Plc informed market participants yesterday that Bakrie Group has only raised US$163 million, rather than the US$228 million required to complete the separation transaction (Bakrie leaves London-listed company, but gets Bumi Resources shares) on its original terms. Bakrie then requested an extension of the completion date and a revision of the transaction.
Minister of Trade Muhammad Lutfi
The new Minister of Trade is not a new face in Indonesian politics. Muhammad Lutfi was a member of President Susilo Bambang Yudhoyono’s first cabinet. He was the country’s Chief of Investment Coordinating Board (BKPM) who later became Indonesia’s ambassador to Japan. With only months left to lead the Ministry of Trade, people are wondering whether or not Lutfi will be able to make any meaningful improvement in the country’s trade environment.
Convenience Stores: DM Baru Group
Other than big players like Indomaret, Alfamart, Alfamidi, Circle-K, 7-eleven, Lawson, and Starmart, there are smaller chains offering the same self-service concept that are typically owned by a local family living in the neighborhood in which the chain operates. In this instalment, we are going to talk about DM Baru Group, a local retail company from Bantul, Yogyakarta.
Growing Interests in Manufacturing Sector (3): AKPI
Growing domestic consumption normally leads to increasing demand for plastic. Indonesia is still a country heavily rely on imported plastics and articles. Last year, while overall import declined 2.6%, Indonesia’s import of plastics grew 3.7% to US$2.53 billion. This is clearly an opportunity for domestic plastic producers, including Argha Karya Prima Industry (AKPI).
Tri Rismaharini: A Game Changer?
Not that many people knew her. Her popularity was nowhere close to Jokowi’s. She wasn’t even in the universe of Jokowi worshippers. But political dynamics change really fast here in Indonesia. Today, Tri Rismaharini is the country’s rising star. There are those who are starting to believe that Risma could match Jokowi (and perhaps even beat him in July’s presidential race). She’s considered to be better, more decisive, understands more details, and she already has a proven track record managing a big city. Is the Mayor of Surabaya, Tri Rismaharini the game changer?
Industrial Catering Players
Industrial catering is a big business. In Indonesia, the business is also dominated by ‘big boys’ close to people in power, especially in mining and oil & gas. Bob Hasan, golf buddy of the late president Soeharto, for example, is known for his company’s ‘monopoly’ in catering services for giant mining PT Freeport Indonesia. Surya Paloh, chairman of NasDem Party, is another big name in the industry.
SKK Migas Scandals: The Simbolons, Rubiandini & Jero Wacik
Arta Meris Simbolon, daughter of Marihad Simbolon, who is also CEO of Parna Raya Group, was an interesting witness in the trial of Rudi Rubiandini, former head of SKK Migas, last Tuesday (Feb 11). Prosecutors confronted her with a taped conversation between her and Deviardi, golf trainer of Rudi, regarding various issues.
Island Concepts (ICON) & The Controversial Bali International Park
Our source was right when he suspected the award of land use right for an area over 250 hectares in Jimbaran Bay, Bali Island few years ago for the sake of ‘2013 APEC Summit’. We all know that the area, where the so-called Bali International Park, should have been built to host the summit, is still a vast empty area.