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Mandiri CEO Speculation
Kompas.com speculated last Friday that government has nominated Gatot Suwondo, CEO of state bank BNI, as the new CEO of Bank Mandiri to replace Agus Martowardojo, who had been appointed minister of finance. Gatot is brother-in-law of First Lady Ani Yudhoyono. ,Last Updated ( Sun, 27 Jun 2010)
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| Telkom management reshuffle
Telkom and Bumi Resources are top losers in our Top 20 stocks. They lost 21.2% respectively this year. The difference, Telkom is No.2, while BUMI is No. 19. BUMI once stole No.1 from Telkom at the peak of commodities bubble in 2008. Astra International may keep the crown longer with Rp23 trillion-margin from Telkom. (Tue, 01 Jun 2010)
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| Pertamina's new board of commissioners
Minister of state-owned enterprises is scheduled to formally announce the new board of commissioners of state oil and gas company PT Pertamina this afternoon. Names circulated pointed to revitalization of Soeharto-type of "supervision" on the company and the new political landscape. (Thu, 06 May 2010)
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| • Pertamina & The Board of Commissioners | State-Owned | The late former dictator Soeharto was known for his strong hands over state-owned oil and gas firm PT Pertamina. His family members and cronies got lucrative businesses and contracts from the company. His successors did and do somewhat similar, although in a moderate fashion. How about the upcoming appointment of new commissioners at the company? | |
| • Pertamina's new board | State-Owned | State-owned oil and gas firm PT Pertamina will have its new board of commissioners and directors sworn in today. New names might reflect more on the new political landscape than efforts to de-politicize the company and make it stronger and profitable like Petronas in Malaysia. | |
| • State Plantations | State-Owned | CPO prices have left their historic high in 2008. State plantations missed the opportunity to capitalize the record price due to the on-off-on-and-off plans for initial public offering (IPO). Three state-owned enterprises ministers have announced initiatives to float the state plantations so they could better compete with private plantations like Astra Agro or London Sumatra. | |
| • State-Owned Enterprises | State-Owned | In five years and three months in office, President SBY had only sent three state-owned companies to the stock market, plus two subsidiaries of SOEs and one secondary offering. His predecessor, Megawati, brought seven companies to the market, of which three are currently in the Top 5 companies on IDX based on market capitalization. | |
| • Reshuffle at state companies | State-Owned | State-owned enterprises minister Mustafa Abubakar said government might replace board of directors of state banks in May 2010. It is not clear whether Agus Martowardojo (Mandiri CEO) and Sofyan Basyir (BRI CEO) will also be replaced. | |
| • Pertamina reshuffle | State-Owned | Cabinet members have earlier confirmed that Karen Agustiawan will be maintained as CEO of state-owned oil and gas company PT Pertamina. Vice President Director position will also be abolished, and that might push Omar S. Anwar out of the company. How about others? CFO will be replaced? Marketing director will also be replaced? | |
| • Pertamina politics | State-Owned | It's just a ritual to replace board of commissioners or directors of giant state-owned companies whenever we have new president and new cabinet. Pertamina, with immense business and political influence, is a regular target, including for members of the ruling coalition. | |
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