Globe Asia

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T op Group s
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Indika Energy Group
Private
Mining, energy, media
Agus Lasmono and Wiwoho
Basuki
$1 billion
PT Indika Energy Tbk is an integrated
energy company, which has
businesses in coal mining to power
plant and logistics services across
land and sea. This year, the group
is pouring $100 million into its
subsidiary to invest in fuel storage
business. Indika’s subsidiary PT
Kariangau Gapura Terminal Energi has
signed a contract with PT ExxonMobil
Lubricants Indonesia to provide fuel
storage facility services. Other than
this business, Indika is known to have
been active in exploring, producing
and processing coal. This group is also
supported by subsidiaries that offer
vital services in the extractive industry
like engineering, procurement and
construction (EPC) services, site
operations and maintenance, project
management, to logistics. A gradual
recovery in coal price helped the
company registered a $335.4 million
profit last year, a swing from a $67.6
million loss in 2016.
44
Bayan Resources
Private
Mining
Dato Low Tuck Kwong
$1 billion
Jakarta-listed PT Bayan Resources Tbk is an integrated coal producer engaged
in open cut mining from mines located mostly in Kalimantan. The company that
is controlled by businessman Dato Low Tuck Kwong runs an integrated supply
chain business in the coal mining industry from mining, processing, barging
and transshipment of semi-soft coking coal to environmentally friendly sub-
bituminous and low suplhur coal. Four of the company’s subsidiaries just signed
a contract amendment with the Energy and Mineral Resources Ministry regarding
their concession rights as the central government requires old mining contracts to
adjust with the government’s new terms and conditions. The coal miner is more
upbeat about its financial performance as coal prices have gradually rebounded.
45
Gunung Sewu Group
Private
Agribusiness, property, energy, insurance
Husodo Angkosubroto
$980 million
This large agribusiness and fruit-processing company
is working to boost output and increase efficiency to
tap not only the domestic market, but also expand its
exports. It is opening a new corporate headquarters this
year as part of its property portfolio, managed by Farpoint
Realty. The group is also a major shareholder in Sequis
Insurance, one of the biggest locally based insurance
companies in Indonesia. In manufacturing, the group
started out with National Label, a leading woven and satin
label manufacturer in Indonesia, and it now also produces
shoes, in addition to its Zen brand of porcelain tableware,
mainly for export, and candy under the Yupi brand. The
group further has interests in energy and information
technology services.
moh. defrizal/ga photo