Bakrie Group

Last updated

Bakrie Group
Company type Conglomerate
Industry investment company   OOjs UI icon edit-ltr-progressive.svg
Founded1942
Founder Achmad Bakrie
Headquarters Jakarta, Indonesia
Area served
Worldwide
Key people
Products
  • Coal
  • Property
  • infrastructure
  • Plantation
  • Metal
  • Telecommunication
  • Media
  • Oil
  • gas
Number of employees
70,000 (2011)
Subsidiaries Visi Media Asia
Website www.bakrie.id

The Bakrie Group is an Indonesian conglomerate founded by Achmad Bakrie in 1942. [1] It has interests across various industries including mining, oil and gas, property development, infrastructure, plantations, media and telecommunications. The group is one of the largest business groups in Indonesia, with 10 companies listed on the Indonesia Stock Exchange.

Contents

It is headed by Nirwan Darmawan Bakrie and Indra Usmansyah Bakrie as co-chairpersons.

History

H. Achmad Bakrie founded Bakrie & Brothers ("N.V. Bakrie & Brothers") in 1942 in Telukbetung, South Sumatera. Bakrie & Brothers was established as a general trading and distribution company. [2] In the 1950s Bakrie Group business activities have expanded to include general trading, construction services, agribusiness, coal mining, oil & gas, and telecommunications; while continuing to develop manufacturing such as steel pipes, building materials, and automotive components. [3]

In 1986, Bakrie & Brothers acquired 75% shares of a local rubber plantation company PT. Uniroyal Sumatera Plantations (UNSP) then later changed the company name to PT. Bakrie Sumatera Plantations. [4] [3] In 1989, Bakrie & Brothers (BNBR) was listed in Jakarta Stock Exchange (now the Indonesia Stock Exchange). [2] [3]

Bakrie Group diversified into media and telecommunications business in the 1990s. A local TV station PT. Cakrawala Andalas Televisi (ANTV) was founded in 1992, and started to broadcast nationally a year later in 1993. [5] In the same year Bakrie Group obtained the license to operate fixed wireless telecommunication and entered the telecommunications sector with PT. Bakrie Telecom. [6]

In 2001, Bakrie Group entered gas and oil sector as PT. Energi Mega Persada (“ENRG”) a company focused on developing and exploring the upstream oil and gas in Indonesia was founded. [6] Bakrie Group also acquired 80% of the coal mining company PT. Arutmin Indonesia (Arutmin) from BHP Minerals Exploration Inc, and PT Kaltim Prima Coal from (British Petroleum (BP) and Rio Tinto, in 2003. [7]

In 2007, Forbes Asia estimated the Bakrie family had $5,4 billion in wealth, however after the 2008 financial crisis it dropped to only $850 million as Bakrie Group companies were heavily affected by the financial crisis. [6] [8]

In 2014, Bakrie Group through Bakrie Global Ventura made a US$25 million investment in a California-based private social network Path, a social networking-enabled photo sharing and messaging service for mobile devices. Path had the most users in Indonesia compared to any other countries with more than 4 million active users. [9]

Bakrie Group has a limited partnership with Convergence Ventures, since its inception in 2015 the VC has backed 16 startups in Indonesia. [10]

In 2019, Bakrie Group made an undisclosed investment in BumiLangit Studios, Indonesian character based entertainment company in Indonesia. [11] The Investment was made by VIVA group who are currently focusing on developing Indonesia's own superhero cinematic universe through the library of the intellectual property rights of BumiLangit Studios. [12] The first movie in line, Gundala released in August 2019 was a theater hit grossing 48,3 million Rupiah. [13]

In 2020, due to the COVID-19 pandemic, Bakrie & Brothers of Bakrie Group furloughed 153 of its staff for at least 3 months. Additionally, the company also introduced salary reduction plans to 800 employees in their attempt to reduce financial burdens due to limited business activity. [14]

Companies

Bakrie Group is made up of 10 individual companies without a controlling parent company. Each of the Bakrie companies has more subsidiaries involved in various Industry, Digital, Energy and Agricultural sectors. [15] [16] [17]

Core members

[ citation needed ]

Company nameCodeBusiness
Bakrie & BrothersBNBRInvestment and disinvestment
Bumi ResourcesBUMICoal mining and explorations
Bumi Resource MineralsBRMSCoal mining and explorations
Energi Mega PersadaENRGOil and gas exploration
Bakrie Sumatera PlantationUNSPCrude palm oil and palm kernel production
Visi Media AsiaVIVABroadcasting, Media
Intermedia CapitalMDIABroadcasting, Media
Bakrieland DevelopmentELTYProperty
Bakrie TelecomBTELTelecommunications
Darma HenwaDEWAMining

Business sectors

Mining

Bakrie Group operates in the mining sector, mainly focused in coal mining through PT. Bumi Resource (BUMI) and its subsidiaries PT. Bumi Resource Minerals (BMRS), PT. Arutmin Indonesia, PT. Kaltim Prima Coal, PT. Pendopo Energi Batubara, and PT. Fajar Bumi Sakti. [18] In May 2020, Bakrie Capital Indonesia signed an agreement with Air Products (APD) to build a $2 billion coal-to-methanol manufacturing facility in East Kalimantan. [19]

Oil and gas

PT. Energi Mega Persada operates several oil and gas assets in Indonesia. In 2011 Energi Persada expanded its business to Buzi block in Mozambique, Africa through their subsidiary EMP Mining Overseas Pte. [20] List of current operations;

Media and entertainment

Bakrie Group owned PT Visi Media Asia Tbk (VIVA). The company activities covers Free to Air (FTA) TV networks with antv, tvOne, VTV and digital media portal viva.co.id. [27]

Agribusiness

Through PT. Bakrie Sumatra Plantations, Bakrie Group managed an estimated 100,000 ha of rubber and palm oil plantation in the island of Sumatra. [28] Bakrie Sumatera Plantations Tbk (BSP) is a subsidiary of Bakrie Group. [28] BSP has extensive landbanks. [29] One of its directors is Bungaran Saragih, a former minister of agriculture. [30] It operates or used to operate on peatlands. [31]

Infrastructure

Through Bakrie & Brothers, Bakrie Group is involved in transportation, water, electricity, and industrial projects in Indonesia through several of its subsidiaries. Bakrie oversaw the development of Tanjung Jati A power station, a coal-fired power station in Central Java. [32] [33]

Sports team ownership

Basketball club

Pelita Jaya Bakrie (1987-present)

Pelita Jaya Basketball Club was founded in 1987 by Bakrie Group. Pelita Jaya is a three time national basketball league champion. Currently the club management is led by Syailendra Bakrie and currently competing in Indonesian Basketball League (IBL). [34]

Football club

Brisbane Roar (2012-present)

Bakrie Group, through PT. Pelita Jaya Cronus acquired A-League title-holders Brisbane Roar FC in 2011. Bakrie Group initially purchased 70% of the club shares, but in 2012 the Football Federation Australia (FFA) announced that the Bakrie Group has acquired 100% ownership of A-League club Brisbane Roar FC. [35] In May 2016, Brisbane Roar faced an administrative and financial turbulences when the team ownership held investment in the club, resulting in Brisbane Roar failure to pay staff and players. [36]

C.S. Visé (2011-2014)

C.S. Visé, a second division league Belgium football club was acquired by Bakrie Group in 2011, [37] during Bakrie's ownership Indonesian youth players like Syamsir Alam, Manahati Lestusen and Alfin Tuasalamony were called to play for the club. [38] C.S Vise was eventually sold by Bakrie Group in 2014. [39]

Related Research Articles

The Salim Group is Indonesia's biggest conglomerate and refers to companies where the Salim family held majority ownership. Its assets include Indofood Sukses Makmur, the world's largest instant noodle producer; Indomobil Group, one of Indonesia's largest car manufacturers; Indomaret, Indonesia's largest convenience store chain; and Bogasari, a large flour-milling operation. The group was founded in October 1972 by Sudono Salim and his junior partner Sutanto Djuhar. The current CEO is Anthoni Salim, a son of Sudono Salim.

<span class="mw-page-title-main">Kompas Gramedia Group</span> Indonesian holding company

Kompas Gramedia is a major media company in Indonesia. It engages in several businesses, predominantly mass media, as well as hospitality, manufacturing, and event organizing.

<span class="mw-page-title-main">Aburizal Bakrie</span> Indonesian politician and businessman

Aburizal Bakrie is an Indonesian politician and a widely recognised successful businessman in Indonesia via his conglomerate Bakrie Group. From 2004 until 2005 Bakrie served as Indonesia's Coordinating Minister for Economy. From 2005 until 2009 he served as Coordinating Minister for People's Welfare. Since 2009, Bakrie served as the Chairman of the Golkar Party up to late 2014 and resumed chairmanship in May 2015.

PT Lapindo Brantas is an Indonesian oil and gas exploration company. It was established as a joint venture between PT. Energi Mega Persada Tbk. (50%), PT. Medco Energi Tbk. (32%) and Santos Australia (18%). The Bakrie family, through its investments, held a controlling stake in PT. Energi Mega Persada Tbk. Lapindo Brantas currently employs a staff of 77 permanent and contract employees and 142 personnel working for the company through a third party contract.

PT Graha Layar Prima Tbk is a cinema chain in Indonesia. The chain was founded as BlitzMegaplex in October 2006. Today, it operates over 73 cinemas with 416 screens across 30 cities in Indonesia.

PT Bumi Resources Tbk is one of the largest mining companies in Indonesia and is structured as a holding company. In the 2012 Forbes Global 2000, Bumi Resources was ranked as the 1898th-largest public company in the world. It is the biggest producer of thermal coal in Indonesia and is majority owned by the Bakrie Group.

<span class="mw-page-title-main">21 Cineplex</span> Indonesian movie theater chain

PT Nusantara Sejahtera Raya Tbk is the largest cinema chain in Indonesia, serving 46 cities in the country. It was founded on 21 August 1987 as Studio Twenty One.

PT Indomobil Sukses Internasional Tbk, known as Indomobil Group, is a car and motor vehicle manufacturer located in Jakarta, Indonesia. It was founded in 1976 by the unification of the two former competitors PT Indohero and the original incarnation of PT Indomobil. The company operates plants in Jakarta, Bekasi, Bekasi Regency, and Purwakarta Regency.

<span class="mw-page-title-main">Jakarta Outer Ring Road 2</span> Toll Road in Indonesia

Jakarta Outer Ringroad 2 or JORR 2 is an under-construction toll road circling the Greater Jakarta area, running roughly parallel with the Jakarta Outer Ring Road in Indonesia. This toll road will connect Soekarno-Hatta International Airport to Cilincing, crossing Tangerang, South Tangerang, Depok, Bekasi, Bekasi Regency. and North Jakarta. It is expected to be able to relieve the traffic of other toll roads in the Greater Jakarta area.

PT Mahaka Media Tbk, traded as Mahaka X since 2022, formerly known as Abdi Bangsa, is an Indonesian media and entertainment company founded by Erick Thohir. The group owns and operated printed newspaper and magazines, and regional free to air television and radio broadcasting.

PT Hero Supermarket Tbk, commonly known as Hero, is one of Indonesia's largest retailers group, which operates Hero hypermarkets and supermarkets, Guardian Healthy & Beauty Stores and IKEA. It is a subsidiary of DFI Retail Group, and is indirectly owned by Jardine Matheson.

<span class="mw-page-title-main">Bakrie Sumatera Plantations</span> Agricultural company

Bakrie Sumatera Plantations is an agricultural subsidiary of Bakrie Group headquartered in Jakarta, Indonesia. Bakrie Sumatera Plantations manages an estimated one hundred thousand hectares of rubber and palm oil plantations, a railroad for transporting rubber, and several land banks.

The 2017–18 Indonesian Basketball League is the third season of the Starting5 as a promoter of the league. The second foreign player draft was held on October 2, 2017. The regular season will begin on December 8, 2017 and end on February 25, 2018. The All-Star break will be on January 7, 2018 and will be held in Jakarta.

Kontan is a business and financial regular publication in Indonesia published by PT Grahanusa Mediatama, owned by Kompas Gramedia. Kontan consists of two distinct publications: daily newspaper and weekly tabloid-kind newspaper, as well as an online portal.

<span class="mw-page-title-main">Sakti Wahyu Trenggono</span> Indonesian politician (born 1962)

Sakti Wahyu Trenggono is an Indonesian politician. As of 23 December 2020, he serves as Minister of Maritime Affairs and Fisheries in the Onward Indonesia Cabinet of President Joko Widodo.

Samanea Jakarta Market is a wholesale and retail market located in Tangerang New City, Jakarta, Indonesia. It is currently managed and owned by Samanea Group, a developer based in Singapore. It covers an area of 96,000 sqm and was built out of "containers", becoming the first market in Indonesia made of containers. It has 403 retail outlets including restaurants.

<span class="mw-page-title-main">Kreasi Mandiri Wintor Indonesia</span> Indonesian automotive company

PT Kreasi Mandiri Wintor Indonesia (KMWI) is an Indonesian automotive manufacturer. It is a subsidiary of PT Astra Otoparts Tbk.

<span class="mw-page-title-main">Gandi Sulistiyanto</span> Indonesian diplomat

Gandi Sulistiyanto Soeherman is a businessperson, an Indonesian diplomat, and former Managing Director of Sinar Mas Group. He serves as the Indonesia Ambassador to South Korea.

StoryChopsticks is a Singapore-based language-learning platform that helps children learn languages, most notably Chinese. The platform creates storybooks, drawing books, flashcards, and toys to help children break down foreign languages into small building blocks.

<span class="mw-page-title-main">Anindya Novyan Bakrie</span> Indonesian businessman (born 1974)

Anindya Novyan Bakrie, is an Indonesian businessman and investor who is the CEO and President of Bakrie & Brothers, the successor to the Bakrie Group, one of the oldest conglomerates in Indonesia that is now transitioning towards the renewable sector.

References

  1. ↑ "Nirwan Bakrie". marcopolis.net. Retrieved 2023-03-29.
  2. 1 2 "Bakrie & Brothers". www.bakrie-brothers.com. Retrieved 2020-07-01.
  3. 1 2 3 Matanasi, Petrik. "Ahmad Bakrie Memang Pernah Jualan Roti". tirto.id (in Indonesian). Retrieved 2020-07-01.
  4. ↑ "Brief History". www.bakriesumatera.com. Archived from the original on 2021-10-28. Retrieved 2020-07-01.
  5. ↑ ANTV (2020-07-02). "Antvklik". antvklik.com (in Indonesian). Archived from the original on 2019-11-17. Retrieved 2020-07-02.
  6. 1 2 3 Insider, Desk Editor. "Insight: Aburizal Bakrie and Bakrie Group". The Insiders Stories. Archived from the original on 2020-06-26. Retrieved 2020-07-02.
  7. ↑ Reuters (2009-01-20). Rafie, Barratut Taqiyyah (ed.). "Fakta Penting Tentang Bakrie & Brothers". kontan.co.id (in Indonesian). Jakarta: Grahanusa Mediatama. Retrieved 2020-07-05.
  8. ↑ "Bye-Bye Bakrie?". Forbes. Retrieved 2020-07-02.
  9. ↑ "Indonesia's Bakrie Group leads Path's $25 million Series C round". sg.finance.yahoo.com. Retrieved 2020-08-31.
  10. ↑ "Convergence plants seeds around Indonesia". Nikkei Asian Review. Retrieved 2020-08-31.
  11. ↑ "Investasi Film Lebih dari Rp30 miliar, VIVA: Produksi Film Indonesia Termahal | Market". Bisnis.com. 2019-05-29. Retrieved 2020-09-06.
  12. ↑ "VIVA will focus on intellectual property business | IDNFinancials". www.idnfinancials.com. Retrieved 2020-09-06.
  13. ↑ "Kantongi Rp48,3 Miliar, Gundala Film Indonesia Terlaris Salip Bumi Manusia | Lifestyle". Bisnis.com. 2019-09-13. Retrieved 2020-09-06.
  14. ↑ "Corona, Induk Perusahaan Bakrie Pangkas Gaji 800 Karyawan". ekonomi (in Indonesian). Jakarta: CNN Indonesia . Retrieved 2020-10-22.
  15. ↑ "Menilik Kembali Kinerja Grup Bakrie di Pasar Modal". tirto.id (in Indonesian). Retrieved 2020-06-30.
  16. ↑ "PT Bursa Efek Indonesia". PT Bursa Efek Indonesia. Archived from the original on 2008-04-16. Retrieved 2020-06-30.
  17. ↑ "Bakrie & Brothers - Bakrie Group | Indonesia Investments". www.indonesia-investments.com. Retrieved 2020-06-30.
  18. ↑ Mulyana, Ridwan Nanda. triatmojo, Yuwono (ed.). "Bumi Resources (BUMI) Menanti Perpanjangan Izin Usaha KPC dan Arutmin Indonesia". PT. Kontan Grahanusa Mediatama (in Indonesian). Jakarta: Grahanusa Mediatama. Retrieved 2020-07-09.
  19. ↑ "Air Products (APD) Inks Agreement to Invest $2B in Indonesia" . Retrieved 2020-07-09.
  20. 1 2 The Jakarta Post (2013-10-21). "Bakrie oil arm acquires field in South Africa". kontan.co.id (in Indonesian). Jakarta: Grahanusa Mediatama. Retrieved 2020-07-09.
  21. ↑ "Anak Usaha EMP Siapkan Pengeboran 3 Sumur Eksplorasi di Blok Bentu - Katadata.co.id". katadata.co.id (in Indonesian). 2019-11-04. Retrieved 2020-07-09.
  22. ↑ Gumelar, Galih. "Energi Mega Persada Kantongi Perpanjangan Kontrak Blok Gebang". ekonomi (in Indonesian). Jakarta: CNN Indonesia . Retrieved 2020-07-09.
  23. ↑ Puspitasari, Ika (2019-07-31). Handoyo (ed.). "Energi Mega Persada bidik produksi 200 MMscfd di lapangan gas Sirasun dan Batur". kontan.co.id (in Indonesian). Jakarta: Grahanusa Mediatama. Retrieved 2020-07-09.
  24. 1 2 Insider, Desk Editor (2020-06-17). "Indonesia's Energi Mega Eyes 25% Kangean Ownership from Mitsubishi". The Insiders Stories. Archived from the original on 2020-07-09. Retrieved 2020-07-09.
  25. ↑ "Energi Mega Jual Saham Baru untuk Bayar Utang dan Akuisisi Blok Migas - Katadata.co.id". katadata.co.id (in Indonesian). 2018-11-23. Retrieved 2020-07-09.
  26. ↑ Forddanta, Dityasa H. (2018-01-10). Kartini, Dupla (ed.). "Energi Mega aktifkan kembali Blok Tonga". kontan.co.id (in Indonesian). Jakarta: Grahanusa Mediatama. Retrieved 2020-07-09.
  27. ↑ Insider, Desk Editor. "Indonesia's Bakrie Group Offers 25% VIVA Shares". The Insiders Stories. Archived from the original on 2020-07-09. Retrieved 2020-07-09.
  28. 1 2 "PT Bakrie Sumatera Plantations TBK | Member | RSPO - Roundtable on Sustainable Palm Oil". rspo.org. Retrieved 2016-05-30.
  29. ↑ Helena Varkkey, The Haze Problem in Southeast Asia (Abingdon: Routledge, 2015), p. 77
  30. ↑ Helena Varkkey, The Haze Problem in Southeast Asia (Abingdon: Routledge, 2015), p. 120
  31. ↑ Helena Varkkey, The Haze Problem in Southeast Asia (Abingdon: Routledge, 2015), p. 131
  32. ↑ Timmerman, Antonia (7 January 2015). "Bakrie & Brothers to Work on Rp 39t in Infrastructure, Manufacturing Projects This Year". Jakarta Globe. Retrieved 2020-07-18.
  33. ↑ Fajrian, Happy (2018-12-05). "Bakrie & Brothers Bangun PLTU Tanjung Jati A Tahun Depan". Katada.co.id (in Indonesian).
  34. ↑ "Team / Pelita Jaya Bakrie - IBL". iblindonesia.com (in Indonesian). Retrieved 2020-07-18.
  35. ↑ "Bakrie Group takes 100% of Roar". Brisbane Roar FC. 2012-02-07. Retrieved 2020-07-18.
  36. ↑ "Brisbane Roar owners given more time by FFA to allay financial concerns". The Guardian. Australian Associated Press. 2016-05-31. ISSN   0261-3077 . Retrieved 2020-07-18.
  37. ↑ "Alasan Keluarga Bakrie Beli Klub di Luar Negeri". Tempo (in Indonesian). 2011-12-23. Retrieved 2020-07-18.
  38. ↑ "Syamsir Alam Bergabung dengan CS Vise". sepakbola (in Indonesian). Jakarta: detikcom . Retrieved 2020-07-18.
  39. ↑ Thomas (2015-07-10). "Bakrie Ternyata Juga Sudah Jual Klub Asal Belgia CS Vise". Liputan6.com (in Indonesian). Jakarta . Retrieved 2020-07-18.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.