After divesting shares in Jakarta Garden City to Modernland for S$249 million and indirect ownership in Hotel Sedona, Manado last year, Keppel Land—developer of two office towers in Jakarta, reinvests in the city’s property market with plan to develop more than 1,000 condominium units and shop-houses in West Jakarta.

Hanura Party, where Harry Tanoesoedibjo is the ‘campaign manager’, sets an ambitious target to come out as third largesy party in April election. Latest survey from Kompas, the largest newspaper in Indonesia, pointed to Hanura in sixth behind Nasional Demokrat and President SBY’s Democratic Party. What a stronger political power means for Harry’s MNC Group, public shareholders, and creditors?

On May 16, 2013, Ottawa Holdings Pte Ltd, unit of MNC Investama (BHIT) issued US$365 million 5.875% Senior Secured Guaranteed Notes due 2018. Market price of the Notes, unfortunately, has dropped significantly in the past few months on potential higher risks because of falling rupiah, while most of revenues are generated in rupiah.

Bagus Group and its controlling owner enjoyed the boom of consumer market in recent years. The owner, despite controversies surrounding Kopitiam trade mark dispute, was elected chairman of The International Association of Fuzhou Corporation in December 2012 to lead Indonesian Chinese.

Noble Group Ltd, one of the region’s major players in resources business, has acquired 100% shares in PT WHS Maritime Investment, which has involved in disputes with directorate general of customs and excise at ministry of finance. At the same time, Noble divested its ownership in PT Jatro Indonesia.

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.

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.

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, 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.

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)?