Shuffling the deck: Salim Group woos minority shareholders

Article Abstract:

The Salim Group must win over minority shareholders to approve the transfer of the Bogasari flour-milling operation from Indocement Tunggal Prakarsa to Indofood at a cost of $830 million. The company would borrow the money needed rather than issuing new shares, and would benefit by lowering Indofood's tax rate and boosting its depreciation. Otherwise the move makes less sense than it seems, as the govt controls wheat imports and sets the price for milled flour. Fund managers are concerned about the hefty new debt load.

Wheat industry, Salim Group

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The right stuff: Bimantara's share offering poses test for Indonesia

Article Abstract:

Bimantara Citra's planned share offering hinges largely on how overseas investors regard the crucial role played by Bimantara group head Bambang Trihatmodjo, son of Indonesian President Suharto. That connection, most experts believe, has been critical to the group's success thus far, so if Suharto leaves office Bimantara's fortunes could plummet. The offering could take place as early as July, and will include 200 million shares, nearly 20% of the overall stock, worth some $200 million to $250 million.

Diversified Companies, Corporations, Corporations, Indonesian, Bimantara Citra P.T.

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Nobody's pawn: improvisational chess champion plays by his own rules

Article Abstract:

Indonesian chess super grandmaster Utut Adianto now ranks 70th in the world and some observers say he could be a world champion if he had had the right early training. Though he practices only two to three hours a day, rather than the five to eight or more of most world-class players, he is tenacious at the board and spots opportunities, readily, following them up with an improvisational game. The 30-year-old Utut also runs Jakarta's first chess school with 40 students.

Appreciation, Personalities, Chess players, Utut Adianto

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