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Bakrie Group

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Bakrie Group
IDX: BNBR (PT Bakrie & Brothers Tbk)
IndustryVarious
Founded1942
FounderAchmad Bakrie
HeadquartersJakarta, Indonesia
Area served
Worldwide
Key people
Aburizal Bakrie (former chairman)
Nirwan Bakrie, co-chairman
Indra Bakrie, co-chairman
Productscoal, oil, gas
Number of employees
70,000 (2011)
Websitewww.bakrie-brothers.com Edit this on Wikidata

The Bakrie Group is an Indonesian conglomerate founded by Achmad Bakrie in 1942. 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.

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

Bakrie Sumatera Plantations Tbk (BSP) is a subsidiary of Bakrie Group. The company has under its management around 100,000 ha of oil palm and rubber plantations.[1] BSP has extensive landbanks. [2] One of its directors is Bungaran Saragih, a former minister of agriculture. [3] It operates or used to operate on peatlands.[4]

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.[5] 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.[6]

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.[7][6] In 1989, Bakrie & Brothers (BNBR) was listed in Jakarta Stock Exchange (now the Indonesia Stock Exchange).[5][6]

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.[8] In the same year Bakrie Group obtained the license to operate fixed wireless telecommunication and entered the telecommunications sector with PT. Bakrie Telecom.[9]

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.[9] 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.[10]

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.[9][11]

Affiliated companies

Beside its main subsidiary, Bakrie & Brothers, Bakrie Group has several other subsidiaries in several other industries, among others:[12][13][14]

Company name Code Business
Bakrie & Brothers BNBR Investment and disinvestment
Bumi Resources BUMI Coal mining and explorations
Bumi Resource Minerals BMRS Coal mining and explorations
Energi Mega Persada ENRG Oil and gas exploration
Bakrie Sumatera Plantation UNSP Crude palm oil and palm kernel production
Visi Media Asia (TVone, ANTV, VIVA) VIVA Broadcasting, Media
Bakrieland Development ELTY Property
Bakrie Telecom BTEL Telecommunications
Darma Henwa DEWA Mining

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.[15] 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.[16]

Oil & 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.[17] List of current operations;

  • Bentu PSC, Riau[18]
  • Buzi EPCC, Mozambique[17]
  • Gebang PSC, North Sumatra[19]
  • Kangean PSC, East Java[20]
  • Korinci Baru PSC, Riau[21]
  • Malacca Strait PSC, Sumatra[22]
  • Sangatta II CBM PSC, East Kalimantan[23]
  • Tonga PSC, Sumatra[24]

Media & Entertainment

Bakrie Group owned PT. Visi Media Asia (VIVA). The company activities covers Free to Air (FTA) TV stations with TVOne, ANTV and digital media portal viva.co.id.[25]

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.[1]

References

  1. ^ a b "PT Bakrie Sumatera Plantations TBK | Member | RSPO - Roundtable on Sustainable Palm Oil". rspo.org. Retrieved 2016-05-30.
  2. ^ Helena Varkkey, The Haze Problem in Southeast Asia (Abingdon: Routledge, 2015), p. 77
  3. ^ Helena Varkkey, The Haze Problem in Southeast Asia (Abingdon: Routledge, 2015), p. 120
  4. ^ Helena Varkkey, The Haze Problem in Southeast Asia (Abingdon: Routledge, 2015), p. 131
  5. ^ a b "Bakrie & Brothers". www.bakrie-brothers.com. Retrieved 2020-07-01.
  6. ^ a b c Matanasi, Petrik. "Ahmad Bakrie Memang Pernah Jualan Roti". tirto.id (in Indonesian). Retrieved 2020-07-01.
  7. ^ "Brief History". www.bakriesumatera.com. Retrieved 2020-07-01.
  8. ^ antvklik.com (2020-07-02). "Antvklik". ANTV (in Indonesian). Retrieved 2020-07-02.
  9. ^ a b c Insider, Desk Editor. "Insight: Aburizal Bakrie and Bakrie Group". The Insiders Stories. Retrieved 2020-07-02. {{cite web}}: |first= has generic name (help)
  10. ^ Mediatama, Grahanusa (2009-01-20). "Fakta Penting Tentang Bakrie & Brothers". kontan.co.id (in Indonesian). Retrieved 2020-07-05.
  11. ^ "Bye-Bye Bakrie?". Forbes. Retrieved 2020-07-02.
  12. ^ "Menilik Kembali Kinerja Grup Bakrie di Pasar Modal". tirto.id (in Indonesian). Retrieved 2020-06-30.
  13. ^ "PT Bursa Efek Indonesia". PT Bursa Efek Indonesia. Retrieved 2020-06-30.
  14. ^ "Bakrie & Brothers - Bakrie Group | Indonesia Investments". www.indonesia-investments.com. Retrieved 2020-06-30.
  15. ^ Mediatama, Grahanusa. "Bumi Resources (BUMI) Menanti Perpanjangan Izin Usaha KPC dan Arutmin Indonesia". PT. Kontan Grahanusa Mediatama (in Indonesian). Retrieved 2020-07-09.
  16. ^ "Air Products (APD) Inks Agreement to Invest $2B in Indonesia". Retrieved 2020-07-09.
  17. ^ a b Mediatama, Grahanusa (2013-10-21). "Bakrie oil arm acquires field in South Africa". kontan.co.id (in Indonesian). Retrieved 2020-07-09.
  18. ^ "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.
  19. ^ Gumelar, Galih. "Energi Mega Persada Kantongi Perpanjangan Kontrak Blok Gebang". ekonomi (in Indonesian). Retrieved 2020-07-09.
  20. ^ Mediatama, Grahanusa (2019-07-31). "Energi Mega Persada bidik produksi 200 MMscfd di lapangan gas Sirasun dan Batur". kontan.co.id (in Indonesian). Retrieved 2020-07-09.
  21. ^ Insider, Desk Editor (2020-06-17). "Indonesia's Energi Mega Eyes 25% Kangean Ownership from Mitsubishi". The Insiders Stories. Retrieved 2020-07-09. {{cite web}}: |first= has generic name (help)
  22. ^ Insider, Desk Editor (2020-06-17). "Indonesia's Energi Mega Eyes 25% Kangean Ownership from Mitsubishi". The Insiders Stories. Retrieved 2020-07-09. {{cite web}}: |first= has generic name (help)
  23. ^ "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.
  24. ^ Mediatama, Grahanusa (2018-01-10). "Energi Mega aktifkan kembali Blok Tonga". kontan.co.id (in Indonesian). Retrieved 2020-07-09.
  25. ^ Insider, Desk Editor. "Indonesia's Bakrie Group Offers 25% VIVA Shares". The Insiders Stories. Retrieved 2020-07-09. {{cite web}}: |first= has generic name (help)
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