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JAKARTA (TheInsiderStories) - The State Owned Enterprise Ministry (SOE) has appointed I Gusti Ngurah Askhara Danadiputra as new President Director of state port operator PT Pelindo III, replacing Orias Petrus Moedak, who has been recently appointed as Finance Director of PT Bukit Asam Tbk (IDX:PTBA).

Danadiputra served as Director of Finance & Risk Management at PT Garuda Indonesia (Persero) Tbk during the period of December 2014 until April 15, 2016.

Pelindo III is not a new place for Danadiputra, who was born on Oct. 13, 1971. He was finance director of Pelindo III before he was appointed as finance director of Garuda Indonesia in 2014. In mid 2016, he was appointed as a director of PT Wijaya Karya (IDX:WIKA).

He started his career in 1994 with a predecessor bank of PT Bank Mandiri.

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JAKARTA (TheInsiderStories) - The State Owned Enterprise Ministry has shaken up the directors board of national gas distribution company PT Perusahaan Gas Negara Tbk (IDX:PGAS) by appointing new president director as well as two new directors. The decision was made the company’s annual shareholders meeting (AGM) on late Thursday.

The AGM agreed to appoint Jobi Triananda Hasjim as new President Director, replacing Hendi Prio Santoso as well as Gigih Prakoso and Desima Equalita Siahaan as new directors, repalcing M. Wahid Sutopo and Hendi Kusnadi.

Gigih was previously SVP Corporate Strategic Growth of state diversified energy company PT Pertamina. Gigih’s appointment is seen as a move by the SOE Ministry to smoothen the planned establishment of oil and gas holding company, which will put Pertamina and PGN under one holding firm.

Prior to the current appointment, Jobi Hasjim, born in Bandung on Apr. 6, 1964, was President Director of PT Rekayasa Industri based on the Rekind’s shareholders decision on Apr. 22, 2016.

PGN is not new to Jobi Hasjim as he was director for commercial of PGN before he was appointed as president director of Rekind.

Following is the complete list of PGN’s new board:

Board of Directors:
- President Director: Jobi Triananda Hasjim
- Director: Gigih Prakoso
- Director: Desima Equalita Siahaan
- Direkctor: Dilo Seno Widagdo
- Direkctor: Nusantara Suyono
- Direkctor : Danny Praditya

Board of Commissioners:
- President Commissioner : Fajar Harry Sampurno
- Commissioner : Hendrika Nara Oslai (replacing Tirta Hidayat)
- Commissioner : Mohamad Ikhsan
- Commissioner : IGN Wiratmaja Puja
- Independent Commissioner : Paiman Raharjo
- Independent Commissionern: Kiswodarmawan
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JAKARTA (TheInsiderStories) - Shareholders of PT Bukit Asam Tbk (IDX:PTBA), a state owned coal producer, have appointed two new directors, namely Orias Petrus Moedak and Fuad Iskandar Zulkarnain Fachroeddin as new directors.

The appointment of the two directors were approved by the company’s annual shareholders meeting (RUPS) on Thursday (Apr 20).

Orias, former director of port operator Pelindo II and Pelindo I, will become Finance Director of Bukit Asam, replacing Anung Dri Prasetya, while Fuad will become director for business development, replacing Achmad Sudarto.

Johan O Silalahi has also been appointed as an independent commissioner, replacing S. Koesnaryo, while Heru Setyobudi Suprayogo was appointed as new commissioner, replacing Leonard.

Following is the list of Bukit Asam’s board of direcors and board of commissioners:

Directors:
President Director : Arviyan Arifin
Finance Director: Orias Petrus Moedak
Director for Operation: Suryo Eko Hadianto
Director for Commercial: Arie Prabowo Ariotedjo
Director for HR and General Affairs: Joko Pramono
Director for Business Development: Fuad Iskandar Zulkarnain Fachroeddin

Board of Commissioners
President Commissioner: Agus Suhartono
Independent Commissioner: Johan O Silalahi
Commissioners: - Muhammad Said Didu,
- Purnomo Sinar Hadi,
- Robert Heri,
- Heru Setyobudi Suprayogo

In addition, the AGGM also approved the distribution of cash dividend of Rp601.86 billion or Rp285.5 per share for 2016 fiscal year. The dividend represents 30 percent of the company’s 2016 net profit of Rp2.01 trillion. (*)

JAKARTA (TheInsiderStories) - Pahala N. Mansury, former director of state owned Bank Mandiri, has been appointed as the new President Director of national flag-carrier PT Garuda Indonesia Tbk (IDX:GIIA), replacing Arif Wibowo. His appointment was approved by the company’s shareholders annual meeting on Wednesday (Apr 4).

The appointment of Garuda’s new CEO was announced by President Commissioner of Garuda Indonesia Jusman Syafii Djamal after the company’s shareholders meeting. Arif was appointed as CEO of Garuda on Dec. 12, 2014, replacing Emisyah Syatar who resigned on Dec. 8, 2014.

Pahala became director of Bank Mandiri in 2010, after holding a post as EVP Coordinator Finance & Strategy and Chief Financial Officer.

Pahala, born in 1971, earned his undergraduate degree at University of Indonesia and MBA on Finance from Stern School of Business at New York University.

He joined Bank Mandiri in 2003 and played significant contribution to the bank’s restructuring process. Before joining Mandiri, Pahala was a consultant at Booz Allen & Hamilton and Boston Consulting Group. (*)

JAKARTA (TheInsiderStories) – PT Garuda Indonesia Tbk, the country’s flag-carrier, has officially appointed Juliandra Nurtjahjo, as new President Director of Citilink, Garuda’s budget airliner, replacing Albert Burhan.

Juliandra was President Director of GMF Aero Asia, a subsidiary of Garuda, before appointed to the new post.

In late December 2016, Albert Burhan decided to resign, along with operational director Hadinoto Soedigno, after an allegedly drunk Citilink pilot showing up for work circulated in the public. His resignation was seen as a gesture of responsibility for the incident.

President Commissioner of Garuda Arif Wibowo said Friday (March 31) that Citilink under the new CEO has been given special duty to expand domestic market of Citilink amid tighter competition.

Juliandra Nurtjahjo was appointed as president director of PT Garuda Maintenance Facility AeroAsia, known as GMF AeroAsia, in March 2016, replacing Richard Budihadianto.

Richard has become president director of GMF AeroAsia since 2007, while Juliandra was previiously Director of Line Operation of GMF AeroAsia.

Juliandra (48 years old) joined GMF AeroAsia since 15 years ago, after graduating masters degree (S2) at University of Indonesia. One of consideration Garuda appointing him as CEO of Citilink was his achievement in maintaining safety standard of GMF AeroAsia. He started his carrier at Garuda Indonesia for eight years before joining GMF AeroAsia.

Following is the composition of Citilink Indonesia:

• President Director : Juliandra Nurtjahjo
• Operational Director : Arry Kalzaman Sudarmadji
• Commercial Director: Andy Adrian

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JAKARTA (TheInsiderStories) - The newly President Director of Pertamina Elia Massa Manik said he is determined to form a solid team and establish a better communication system among board of director members, in a more transparent and and openness way.

“As President Director, I am hoping to form a team and develop good communication among members. My hope is that a change of culture can start from directors,” Elia Manik said at a press conference.

“I am luck that the current directors (of Pertamina) have their own strength,” he noted.

He also said that Pertamina is ready to support the government’s drive to achieve energy security. “Therefore, we are going to accelerate (our programs),” he said.

He said in acceleration the company’s business activities, the company will optimize the available opportunities both in downstream and upstream.

Meanwhile, Deputy Minister for State Owned Companies Gatot Trihargo said Elia was appointed for his successful in transforming Elnusa as well as transformation of BNI and PTPN 3. The appointment was made after undertaking a thorough selection process led by the SOE Minister Rini Soemarno.

Elia Massa Manik, currently President Director of plantation firm PT Perkebunan Nusantara III, has been appointed as new President Director of Pertamina, replacing Dwi Sutjipto, who has been dismissed at end January.

The appointment of Elia Manik has been approved by the shareholder (government) during the company’s shareholder meeting on Thursday (Mar 16).

Elia has a long carrier path, working in a number of major companies, both private and state owned, with variety of industries, such as food, plantation, oil and gas services. (*)

JAKARTA (TheInsiderStories) - PT Matahari Putra Prima Tbk (MPPA), a multi-format modern retailer in Indonesia which operates Hypermart, SmartClub, Foodmart, Boston Health & Beauty and FMX, has appointed Surya Tatang as the new Chief Financial Officer (CFO) and Chief Strategic, Business Intelligence and Planning Officer (CFIO).

These appointments are in-line with the company’s strategy to strengthen its management team for continuation of the company’s retail growth and the anticipation of new business opportunities in the future.

Tatang is already well known by the MPPA team. His extensive corporate finance expertise in the financial industry includes the recent position of CFO of PT Link Net Tbk. He is a CFA charterholder.

MPPA also welcomes Patrick J. Hopper to assume the new position of Chief Strategic, Business Intelligence and Planning Officer. Subsequent to this appointment, Mr Hopper played an integral role as MPPA’s CFIO while also developing Company strategy and modernizing existing business processes.

Hopper’s work led MPPA’s commitment to build a sustainable retail management platform and institutionalize business processes to support long term growth. As the Company continues to grow as a multi format retailer, Hopper’s new role will be a key contributor to MPPA’s success in the years ahead.

Noel Trinder, CEO of MPPA, commented, “As MPPA grows its position as a leading FMCG retailer in Indonesia, the Company needs to continue strengthening its organization with the right capabilities at the right time. Both Surya and Patrick represent the best executives to assume their duties and will be important parts of the solid MPPA management team.” (*)

JAKARTA (TheInsiderStories) – The Sydney based and multi award-winning company, Crown Group, today provides information the appointment of Julian Sedgwick as Global Head of Sales and Marketing.

With more than 16 years of international real estate experience, Sedgwick takes the marketing helm across Crown Group’s growing portfolio of projects in Sydney at the time when global property investors are seeking attractive options outside of London and Europe.

Mr. Sedgwick comes to Crown Group from UK property group, Marsh & Parsons where he was Head of International Business Development. With a successful career to date, helping to generate more than USD $1.1 billion in sales across Asia Pacific since 2009, Mr. Sedgwick worked across a variety of international markets, including the United States, UK, Australia and Asia Pacific.

Amid substantial government investment, rapid residential and commercial growth, and a stable government and economy, Sydney is has become a favored destination for overseas investors seeking strong returns.

Founded with its first project in Bondi in 1996, Crown Group has become one of the most prolific developers in Sydney; specializing in property development and property investment and will soon opens its first hotel suites.

The appointment comes at an important time for the company, as it expands within Australia and overseas; and gains increasing brand awareness internationally.

“We are delighted to welcome Julian to Crown Group as we continue to grow and expand our presence in Asia region. Julian brings a depth of experience and talent in international real estate markets – particularly in London, Asia and Oceania,” said Crown Group CEO Iwan Sunito.

After selling more than $380 million in five hours at the launch of its most recent project Infinity by Crown Group in Green Square, the Sydney-based developer plans to launch its next project in the nearby suburb of Waterloo in 2017.

“Julian will be instrumental in leading Crown Group’s sales division as we prepare for the launch of Waterfall by Crown Group,” Sunito added.

Julian Sedgwick is very familiar with the London and UK markets, which are still reeling from the shock of Brexit and the ensuing political and financial uncertainty. There appears to be no short-term answers, and the negotiations to leave the EU may affect London’s standing as a financial center. Moreover, London’s residential property market is widely considered to have topped out, with press in the UK are predicting up to an 18 per cent drop in housing prices over the next few years.

Data released this month by CoreLogic, the largest provider of property information, analytics and property-related risk management services in Australia and New Zealand revealed Sydney property has reached 9.4 per cent annual growth after recording an August growth rate well above the national average.

Sydney dwelling values increased 1.4 percent in August versus national average of 1.1 per cent.

Knight Frank’s 2016 Prime Cities Forecast Report forecasts that Sydney is set to see the strongest prime residential growth in 2016 – up 10 per cent from the previous year. Sydney beat out nine other international cities including Monaco, New York and Shanghai for property value growth. Sydney’s real estate value has been growing at a brisk rate for several years; in 2015, it saw a 15 percent increase, which also topped the other nine prime cities.

JAKARTA (TheInsiderStories) - Malaysian-based AirAsia Bhd announced the appointment of Dendy Kurniawan as AirAsia Group Chief Executive Officer (CEO) for Indonesia operations, effective immediately.

Kurniawan will oversee the growth and development of both AirAsia Indonesia and Indonesia AirAsia X. His appointment comes at a time when AirAsia is gearing up for further expansion in Indonesia.

In addition to his responsibilities as Group CEO for Indonesia, Kurniawan will serve as the new CEO of AirAsia Indonesia, replacing Captain Ridzeki Tresno Wibowo who has been serving as interim CEO since June 2016.

Pin Harris, President Commissioner of AirAsia Indonesia said, “We are delighted to welcome Dendy in his new role as we enter the next exciting phase of growth. Dendy’s leadership credentials, coupled with his extensive management experience, will be instrumental in driving our strategic plans forward.”

“As ASEAN’s largest market, Indonesia has so much to offer in terms of tourism. It is our ongoing commitment to bring in more tourists into Indonesia and contribute to the local economy through tourism and affordable air connectivity. We cannot think of anyone better than Dendy, a visionary and passionate leader, to drive the company forward as we consolidate our foothold in Indonesia,” Group Chief Executive Officer of AirAsia, Tony Fernandes said.

“I am honoured to be entrusted with this exciting new role. AirAsia’s story in Indonesia has been nothing short of remarkable. We have gone through the most challenging period of our history, but we have emerged stronger than ever. Together with the team, I am committed to continue delighting our guests in Indonesia with exceptional products and services,” Dendy Kurniawan, newly appointed CEO of AirAsia Group in Indonesia, commented.

Kurniawan first joined AirAsia in May 2014 as Indonesia AirAsia X’s Chief Financial Officer. On Dec. 1, 2014, Kurniawan was promoted to CEO, a position he held until his recent appointment as AirAsia Group CEO in Indonesia. Succeeding him in Indonesia AirAsia X will be Captain Sulistyo Nugroho Hanung, who will assume the role of interim CEO while continuing to serve in his role as Director of Flight Operations.

A J. William Fulbright Scholarship awardee, Kurniawan earned his master’s degree in international and development economics from the University of Yale, USA. He obtained his bachelor’s degree in industrial engineering from Bandung Institute of Technology, Indonesia.

Commenting on the appointment of Captain Sulistyo Nugroho Hanung, Kurniawan said, “Captain Hanung has demonstrated professionalism and commitment since he joined AirAsia more than 10 years ago. I am thrilled to have him lead and drive Indonesia AirAsia X to new levels of performance.”

Captain Sulistyo Nugroho Hanung started his flying career in 1994. He joined AirAsia in March 2005 as a captain, and was appointed as Indonesia AirAsia X’s Chief Pilot in April 2016 before being promoted to Director of Flight Operations in June 2016. (*)

JAKARTA (TheInsiderStories) - Indonesia government change the management of toll operator PT Jasa Marga Tbk (IDX: JSMR). At the Extraordinary General Meeting (EGM) on August 29, government appointed Desi Arryani to replace Adityawarman’s position as a president director of the company.

Desi previous position as a director operations I PT Waskita Karya Tbk (IDX: WSKT) for three years since 2013. She began her career in this veiled Waskita in 1987 as a Staff Budget Office Project.

Four years later, She became head of the gabion wall project Benoa and Perfection Irrigation Project Sabah Package II in Buleleng, Bali. Her career continued to climb and had served as head of marketing at the Branch Office IX Denpasar 1991-1997. In the same period, She also became Head of Projects related to various projects of water resources in the Branch IX Denpasar.

Over the next four years, Desi was promoted to Branch Manager in Mataram. In 2002-2005 as Deputy Head of Region III Surabaya, and in 2005 to 2008 served as Chief of the Division III in Jakarta.

Row during one year later Bachelor of Civil Engineering, University of Indonesia was featured as the Chief of the Civil Division in Jakarta, and in 2009 -2010 as Head of Division II in Jakarta. Six years ago, Desi trusted as Director and Head of Division II Jakarta.

Issue Bonds, Rights Issue

Jasa Marga plans to issue bonds up to Rp 10 trillion starting the first quarter of 2017 until 2018, said finance director JSMR Anggiasari. Next year, the company needs at least Rp 30 trillion of fund to develop several project across the country and will continue to increase to Rp 82 trillion and Rp 19 trillion least need for refinancing until 2019.

At the EGM, the shareholders also approved the company plans to increase paid up capital through a Limited Public Offering. In Rights Issue, Jasa Marga will issue a maximum of 491,465,665 and sixty-five new shares with a nominal value of Rp 500 a share.

The company will conduct capital increase with preemptive rights of about Rp 1.8 trillion, with details of PMN Rp 1.25 trillion and Rp 550 billion from the public. The additional capital from the exercise of the rights issue will provide additional capital and increase the capacity to develop the business and improve the ability to receive financing from financial institutions and banks.

In addition, the use of funds from the transaction the rights offering and bond issuances to be used entirely to support the roads construction of new toll roads company.

Structure and Position of the Board of Commissioners and Board of Directors of Jasa Marga as follows:

BOARD OF COMMISSIONERS
Chairman/Independent: Refly Harun
Commissioner: Agus Suharyono
Commissioner: Boediarso Teguh Widodo
Independent Commissioner: Sigit Widyawan
Commissioner: Taufik Widjoyono
Commissioner: Muhammad Sapta Murti

BOARD OF DIRECTORS
Director: Desi Arryani
Development Director: Hasanuddin
Director of Operations I: Muh Najib Fauzan
Director of Operations II: Subakti Gratitude
Director of Human Resources and General Affairs: Christantio Prihambodo
Finance Director/Independent: Anggiasari