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, 2018
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Bakrie & Brothers
Private
Mining, telecommunications, property, manufacturing, toll roads
Aburizal Bakrie
$3.1 billion
Debt remains a key issue for PT Bakrie & Brothers, the holding company of a business group
controlled by the Bakrie family. However, it is looking at opportunities in other sectors, such
as bus operations and industrial estate development. The group is seeking help from a
Chinese partner to fund the development of a 500-hectare industrial park, the location of
which has yet to be disclosed. With operations including steel-pipe manufacturing, media,
telecommunications, property and natural resources, the Bakrie Group has emerged as a huge
business entity. However, the company’s coal-mining subsidiary, Bumi Resources, continues to
struggle with massive debt, while its telecommunications arm, Bakrie Telecom, is awaiting a Rp
11.8 trillion ($814 million) debt restructuring process with creditors.
12
Temasek Group
Foreign
Banking, telco
Government of Singapore
$3.3 billion
For Indonesia, Temasek’s
investment model has been
unique. With interests in a
wide range of businesses,
the group has changed
Indonesia’s business
landscape over the past 10
years. It controls a 67 percent
stake in Bank Danamon,
which in turn controls publicly
listed financing firmAdira, and
through its subsidiary SingTel,
has a significant holding in
Indonesia’s leading mobile
phone operator, Telkomsel.
Through its subsidiary
Sembawang Corporation,
the group has 51 percent
control of Kendal Industrial
Estate in Semarang, Central
Java, in partnership with
Indonesia’s Jababeka Group.
The 2,000-hectare industrial
estate will be equipped with
modern facilities for working,
living, education and trading.
14
Adaro Energy
Private
Mining, Power
Edwin Soeryadjaya, Boy Thohir, Teddy Rachmat
$3.1 billion
Adaro Energy, Indonesia’s largest listed coal producer by market value, is embarking on an ambitious expansion this year to acquire
a controlling stake in the Kestrel Coal Mine in Central Queensland, Australia, currently owned by mining giant Rio Tinto. Adaro and
a Melbourne-based private equity firm plan to jointly manage and operate the underground mine that produces coking coal. Adaro
chief executive Garibaldi “Boy” Thohir said the company hopes to wrap up the $2.25 billion deal to buy an 80 percent stake in
Kestrel in the third quarter of this year. With coal prices currently rebounding, the coal mining business looks attractive once more
for investors. This year marked the 10th anniversary of Adaro’s listing on the Indonesia Stock Exchange (IDX). Beyond mining, the
company is also involved in logistics, water purification, land development and power generation.
moh. defrizal/ga photo