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august
, 2018
18
Barito Pacific Group
Private
Petrochemicals, forestry,
plantations
Prajogo Pangestu
$2.4 billion
Founded by Prajogo Pangestu
in 1979, the diversified group
controls Indonesia’s largest
petrochemical complex, Chandra
Asri, making it the biggest and
most integrated petrochemical
producer in Indonesia. Barito Pacific
is currently also expanding into
geothermal energy after the $755
million acquisition in July of a 66
percent stake in local geothermal
power producer Star Energy Group
Holdings Pte Ltd, which owns power
plants with a total capacity of 875
megawatts. The acquisition is seen
as a crucial move by the group to
establish itself as a market leader
in the renewable energy sector,
as well as increasing its capacity
through optimization. With planned
investment of $6 billion in several
projects between 2016 and 2021,
the group aims to generate more
revenue, stabilize corporate income
and become a power producer.
19
Qatar Investment Authority (Indosat Ooredoo)
Telecommunications, finance
Foreign/Qatar
$2.1 billion
Indosat Ooredoo, 65 percent controlled by the Qatar Investment Fund, has had a tough
year so far due to stiff competition in Indonesia, which saw the telecommunications
service and network provider posting a 22 percent year-on-year decline in revenue in the
first quarter. The company swung to a Rp 505.7 billion loss in the January-March period
after a Rp 173.9 billion profit in the corresponding period last year. Analysts say Indosat’s
internet connectivity offering did not measure up to those offered by competitors and that
it was therefore unable to improve average revenue per user. The company also has limited
funding available for network expansion. Indosat’s top management has made various
efforts to improve its financial performance, including sealing a cooperation deal with pay-
television operator Nexmedia.
20
Japfa Comfeed
Private
Animal Feed, property
Handojo Santoso
$2.1 billion
The group, jointly controlled by Handojo Santoso and Cargill subsidiary Black
River Asset Management, is focused on the production and sale of animal feed,
while it also operates Japfa Ltd., a Singapore-listed investment holding company.
Dairy-producing subsidiary AustAsia operates in China and Indonesia, marketing
products under the Greenfields brand. The group has experienced continuous
growth, with its shares having gained 27.03 percent by the middle of this year and
20.96 percent over the past full year. PT Japfa Comfeed, winner of the Top CSR
2017 Award, recently also participated in a search and rescue mission following
the tragic sinking of a ferryboat in Lake Toba, North Sumatra.
moh. defrizal/ga photo, reuters photo