Bakrie Group
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 is a subsidiary of Bakrie Group. The company has under its management around 100,000 ha of oil palm and rubber plantations.
BSP has extensive landbanks.
One of its directors is Bungaran Saragih, a former minister of agriculture.
It operates or used to operate on peatlands.
History
H. Achmad Bakrie founded Bakrie & Brothers in 1942 in Telukbetung, South Sumatera. Bakrie & Brothers was established as a general trading and distribution company. 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.In 1986, Bakrie & Brothers acquired 75% shares of a local rubber plantation company PT. Uniroyal Sumatera Plantations then later changed the company name to PT. Bakrie Sumatera Plantations. In 1989, Bakrie & Brothers was listed in Jakarta Stock Exchange.
Bakrie Group diversified into media and telecommunications business in the 1990s. A local TV station PT. Cakrawala Andalas Televisi was founded in 1992, and started to broadcast nationally a year later in 1993. In the same year Bakrie Group obtained the license to operate fixed wireless telecommunication and entered the telecommunications sector with PT. Bakrie Telecom.
In 2001 Bakrie Group entered gas and oil sector as PT. Energi Mega Persada a company focused on developing and exploring the upstream oil and gas in Indonesia was founded. Bakrie Group also acquired 80% of the coal mining company PT. Arutmin Indonesia from BHP Minerals Exploration Inc, and PT Kaltim Prima Coal from and Rio Tinto, in 2003.
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.
Affiliated companies
Beside its main subsidiary, Bakrie & Brothers, Bakrie Group has several other subsidiaries in several other industries, among others: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 | 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 and its subsidiaries PT. Bumi Resource Minerals, PT. Arutmin Indonesia, PT. Kaltim Prima Coal, PT. Pendopo Energi Batubara, and PT. Fajar Bumi Sakti. In May 2020, Bakrie Capital Indonesia signed an agreement with Air Products to build a $2 billion coal-to-methanol manufacturing facility in East Kalimantan.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. List of current operations;- Bentu PSC, Riau
- Buzi EPCC, Mozambique
- Gebang PSC, North Sumatra
- Kangean PSC, East Java
- Korinci Baru PSC, Riau
- Malacca Strait PSC, Sumatra
- Sangatta II CBM PSC, East Kalimantan
- Tonga PSC, Sumatra
Media & Entertainment