Jokowi and Flood Politics
In November 2013, we published an article about the possible political backlash that could hit the Governor of Jakarta, Joko “Jokowi” Widodo, should the capital city get severely inundated. Sure enough, now that some parts of the city are immersed due to severe weather and rising sea water, the Governor is under intense scrutiny, with people zoning in on his penchant for public relations stunts.
Adaro Energy: Debt Pressures & Politics
David Tendian, CFO of Adaro Energy (ADRO), predicted in May 2013 that coal prices would recover in the fourth quarter of 2013 to US$95-100 per ton. We all know that price of the commodity stopped falling in the quarter, but the benchmark price of Indonesian coal was only around US$80 per ton (6,200 Kcal/Kg). Shares of Adaro gained almost 100% from its bottom in August to December 2013, but then retreated in the past few weeks.
SKK Migas Case: Waryono Karyo Suspect, Who’s Next?
Six months have passed since the Corruption Eradication Commission (KPK) arrested the head of the powerful Upstream Oil & Gas Regulatory Task Force (SKK Migas) Rudi Rubiandini under the suspicion of receiving bribes. A lot has happened since then. One of the biggest developments being the sentencing of Simon Gunawan Tanjaya, an executive of oil trader Kernell Oil Indonesia, to 3 years imprisonment after being found guilty of bribery in the SKK Migas graft case. Yesterday (Jan. 16), the KPK declared the former Secretary General of the Ministry of Energy and Mineral Resources, Waryono Karyo, as a suspect in the case. Around the same time, the KPK also searched the office of Democratic Party politicians Sutan Bhatoegana and Tri Yulianto.
Salim Group & Mineral Smelting Business
Salim Group, a diversified business empire controlled by Anthoni Salim, is among aggressive players in mineral business in the country. Other than its gold exploration business through ASX-listed Robust Resources Ltd, Salim Group is growing its iron & steel business through some ventures. This is one of groups to watch following the government’s policy to ban export of mineral ores effective January 2014.
Rusdi Kirana and Politics (Part II)
Politics can end up being a very gruelling battlefield. But many are willing to take the risk given the multitude of rewards they can bring home if they could play their cards well. A few business people enter into politics precisely for these reasons. They are get in for the promise of access, political protection, and many other privileges that comes with being close to power. But not all businessmen enter into politics for this reason. Some are in for altruistic purposes, to give back and serve the country. Which of these types of businessmen is Rusdi Kirana? What is he looking for in politics? Why join a muslim-based political party affiliated with the country’s largest Islamic organization Nahdlatul Ulama (NU)?
Rusdi Kirana and Politics (Part I)
The Chief Executive Officer of Lion Air, Rusdi Kirana, joined the National Awakening Party (PKB) last week. This is really interesting for a number of reasons. The timing is interesting given that we are only a few months away from April’s legislative election and July’s presidential election. But beyond that, we are more interested in the motives behind the fact that Rudi was immediately appointed as the party’s deputy chairman. But let’s begin by asking the background question: who is Rusdi Kirana exactly?
Bumi Resources Debt Restructuring
Bumi Resources (BUMI)’s extraordinary general meeting (EGM) of shareholders on December 20, 2013 failed to reach a quorum and was adjourned until today, January 10, 2014. As you know, Asia Resource Minerals Plc (previously Bumi Plc), owner of 29% shares in BUMI, decided not to participate in the EGM relating to the approval of certain transactions for the ongoing debt restructuring.
Restaurateur: Arief Wirawangsadita
In less than 10 years, Arief S Wirawangsadita managed to open more than 60 outlets of Bumbu Desa restaurants in Indonesia and provide jobs for more than 4,000 people. The restaurant, which mainly serves Sundanese cuisine, managed to grow beyond West Java. How many of them actually owned by Arief and franchise holders?
Sukanto Tanoto & Other Stories
Tycoon Sukanto Tanoto has been under substantial pressures from Indonesian authorities in the past few years related to the plantation business Asian Agri. These pressures, however, didn't prevent the tycoon from expanding his business, especially overseas, including...
Paracheilinus nursalim & Bali Turtle Island
Reefbuilders.com reported in April 2011 that Paracheilinus nursalim is one of the new species of flasher wrasses from New Guinea, considered completely unknown in the aquarium world. Turtle Island, meanwhile, is another name of Serangan Island in Bali, a small island...