https://www.forbes.com/sites/yessarrosendar/ en-us https://specials-images.forbesimg.com/imageserve/6188917e85f4028e89582562/400x0.jpg?cropX1=0&cropX2=868&cropY1=144&cropY2=1013 https://www.forbes.com/sites/yessarrosendar/ Yessar Rosendar's stories. Copyright 2024 Forbes Media LLC https://www.forbes.com/sites/yessarrosendar/2024/12/23/indonesian-billionaire-mochtar-riadys-oue-reit-to-sell-china-property-for-264-million/ OUE REIT—backed by Indonesian billionaire Mochtar Riady—is selling its Shanghai office building to an undisclosed buyer for $264 million, as the Singapore-listed company exits the troubled Chinese real estate market. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_6768f613a083091f81fc6e97 Mon, 23 Dec 2024 01:24:54 -0500 2024-12-23T01:25:06-05:00 OUE REIT—backed by Indonesian billionaire Mochtar Riady—is selling its Shanghai office building to an undisclosed buyer for $264 million, as the Singapore-listed company exits the troubled Chinese real estate market. Courtesy of Hilton Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/12/18/indian-billionaire-gautam-adani-acquires-cement-businesses-to-expand/ Ambuja Cements, the cement unit of the group controlled by Indian billionaire Gautam Adani, approved a merger with two companies to expand amid a construction boom. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_676275f6ab1a80742ef53c9e Wed, 18 Dec 2024 02:31:09 -0500 2024-12-19T07:17:55-05:00 Ambuja Cements, the cement unit of the group controlled by Indian billionaire Gautam Adani, approved a merger with two companies to expand amid a construction boom. SHAMMI MEHRA/AFP via Getty Images Asia /asia Asia /asia India’s 100 Richest 2024 /india-billionaires Business /business Energy /energy Innovation /innovation premium https://www.forbes.com/sites/yessarrosendar/2024/12/12/vietnamese-billionaire-partner-to-invest-up-to-12-billion-to-build-ev-charging-stations-in-indonesia/ V-Green—backed by Vietnamese billionaire Pham Nhat Vuong—partnered with Egypt’s Prime Group to build 100,000 VinFast charging stations in Indonesia over the next three years, with a projected total investment of up to $1.2 billion. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_675aa2b311936449429f4aeb Thu, 12 Dec 2024 03:56:33 -0500 2024-12-19T07:15:13-05:00 V-Green—backed by Vietnamese billionaire Pham Nhat Vuong—partnered with Egypt’s Prime Group to build 100,000 VinFast charging stations in Indonesia over the next three years, with a projected total investment of up to $1.2 billion. © 2024 Bloomberg Finance LP Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/12/12/indian-billionaire-brothers-to-buy-40-stake-in-coca-colas-indian-bottler/ Jubilant Bhartia Group—controlled by billionaire brothers Shyam and Hari Bhartia—has agreed to buy a 40% stake in Coca-Cola’s Indian bottler, marking the company’s expansion into the beverage industry. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_675a8b966e1f4a2fc1662f0a Thu, 12 Dec 2024 02:46:14 -0500 2024-12-19T07:15:13-05:00 Jubilant Bhartia Group—controlled by billionaire brothers Shyam and Hari Bhartia—has agreed to buy a 40% stake in Coca-Cola’s Indian bottler, marking the company’s expansion into the beverage industry. Getty Images Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/12/11/the-indonesian-tycoon-whos-betting-big-on-nickel/ Kiki Barki, whose coal mining riches made him a billionaire, is shifting his Harum Energy’s focus into nickel, which is used to power electric vehicles. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_6752683d77d7b07dd6a41832 Wed, 11 Dec 2024 16:41:44 -0500 2024-12-19T07:15:01-05:00 Kiki Barki, whose coal mining riches made him a billionaire, is shifting his Harum Energy’s focus into nickel, which is used to power electric vehicles. Jin Liangkuai/NEWSCOM Asia /asia Asia /asia Billionaires /worlds-billionaires Business /business Forbes Magazine /forbes-magazine Forbes Asia /forbesasia Editors' Pick editors-pick No Paywall no-paywall indonesia-billionaires premium https://www.forbes.com/sites/yessarrosendar/2024/12/11/indonesian-coal-billionaire-invests-in-a-green-future/ Garibaldi “Boy” Thohir’s coal miner, known until recently as Adaro Energy Indonesia, is doubling down on renewable energy, aiming to get over half of its revenue from non-coal businesses by 2030. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_675262e59e8b5645dc5734c2 Wed, 11 Dec 2024 16:40:48 -0500 2024-12-19T07:15:01-05:00 Garibaldi “Boy” Thohir’s coal miner, known until recently as Adaro Energy Indonesia, is doubling down on renewable energy, aiming to get over half of its revenue from non-coal businesses by 2030. Muhammad Fadli/Bloomberg Asia /asia Asia /asia Billionaires /worlds-billionaires Business /business Forbes Magazine /forbes-magazine Forbes Asia /forbesasia Editors' Pick editors-pick No Paywall no-paywall indonesia-billionaires premium https://www.forbes.com/sites/yessarrosendar/2024/12/11/renewable-energy-recharges-wealth-of-indonesian-conglomerate-sinar-mas-family/ The Widjaja family’s wealth soared 75% to $18.9 billion, fueled by a sevenfold jump in shares of Dian Swastatika Sentosa, the energy-to-infrastructure unit of their Sinar Mas group. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_6752603277d7b07dd6a41830 Wed, 11 Dec 2024 16:40:26 -0500 2024-12-19T07:15:01-05:00 The Widjaja family’s wealth soared 75% to $18.9 billion, fueled by a sevenfold jump in shares of Dian Swastatika Sentosa, the energy-to-infrastructure unit of their Sinar Mas group. Dimas Ardian/Bloomberg Asia /asia Asia /asia Business /business Billionaires /worlds-billionaires Forbes Magazine /forbes-magazine Forbes Asia /forbesasia Editors' Pick editors-pick No Paywall no-paywall indonesia-billionaires premium https://www.forbes.com/sites/yessarrosendar/2024/12/11/billionaire-widjaja-family-axiata-merge-indonesian-telecom-business-in-65-billion-deal/ Smartfren Telecom—controlled by billionaire Widjaja family’s Sinar Mas—and Malaysia’s Axiata Group are merging their Indonesian telcos in a deal valued at $6.5 billion. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_67593ca4356f5039ec6b0df3 Wed, 11 Dec 2024 02:38:44 -0500 2024-12-19T07:15:01-05:00 Smartfren Telecom—controlled by billionaire Widjaja family’s Sinar Mas—and Malaysia’s Axiata Group are merging their Indonesian telcos in a deal valued at $6.5 billion. © 2021 Bloomberg Finance LP Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/12/05/bain-capital-to-invest-157-million-in-indonesian-billionaire-tahir-backed-mayapada-hospital/ U.S. private equity firm, Bain Capital, plans to invest $157 million in Sejahteraraya Anugrahjaya, a company that runs the Mayapada Hospital chain backed by Indonesian billionaire Tahir. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_67517aa7c5078231b3b8c904 Thu, 05 Dec 2024 05:31:31 -0500 2024-12-19T07:12:53-05:00 U.S. private equity firm, Bain Capital, plans to invest $157 million in Sejahteraraya Anugrahjaya, a company that runs the Mayapada Hospital chain backed by Indonesian billionaire Tahir. getty Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/12/05/billionaire-garibaldi-thohir-backed-adaro-andalan-jumps-20-in-jakarta-debut/ Shares of Adaro Andalan Indonesia—a coal mining company backed by Indonesian billionaire Garibaldi Thohir—surged 20% on its trading debut on the Jakarta Stock Exchange as demand for IPOs in Indonesia picked up. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_67515387d95c3825367308e5 Thu, 05 Dec 2024 03:24:40 -0500 2024-12-06T03:10:37-05:00 Shares of Adaro Andalan Indonesia—a coal mining company backed by Indonesian billionaire Garibaldi Thohir—surged 20% on its trading debut on the Jakarta Stock Exchange as demand for IPOs in Indonesia picked up. getty Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/12/04/northstar-group-backed-delta-dunia-deepens-australia-mining-investments/ A unit of Delta Dunia Makmur—an Indonesian miner backed by tycoon tycoon Patrik Walujo private equity firm Northstar Group—is deepening its mining investments in Australia with the acquisition of a stake in listed copper miner, 29Metals. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_674fdf2524a5f51e68dadbc7 Wed, 04 Dec 2024 00:12:57 -0500 2024-12-05T02:51:17-05:00 A unit of Delta Dunia Makmur—an Indonesian miner backed by tycoon tycoon Patrik Walujo private equity firm Northstar Group—is deepening its mining investments in Australia with the acquisition of a stake in listed copper miner, 29Metals. getty Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/11/28/malaysian-billionaire-dealmaker-ananda-krishnan-dies-at-86/ Malaysian billionaire Ananda Krishnan, whose business empire spans energy and telecommunications services, has died at the age of 86, his privately held investment company said Thursday. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_6748419b84740e1ceb6c1df9 Thu, 28 Nov 2024 06:00:43 -0500 2024-12-03T04:25:49-05:00 Malaysian billionaire Ananda Krishnan, whose business empire spans energy and telecommunications services, has died at the age of 86, his privately held investment company said Thursday. Getty Images Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/11/26/indian-tycoon-shashi-ruia-cofounder-of-essar-group-dies-at-81/ Indian tycoon Shashi Ruia—cofounder of the Essar Group, one of the country’s largest conglomerates—passed away on Tuesday at the age of 81. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_6745c103e546cd015ec20623 Tue, 26 Nov 2024 07:59:26 -0500 2024-11-27T02:36:05-05:00 Indian tycoon Shashi Ruia—cofounder of the Essar Group, one of the country’s largest conglomerates—passed away on Tuesday at the age of 81. Courtesy of Essar Group Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/11/26/billionaire-gautam-adanis-fortune-shrinks-16-billion-amid-fallout-from-bribery-case/ Since the bribery indictment last week, Indian billionaire Gautam Adani's net worth has tumbled almost $16 billion to about $54 billion currently, according to Forbes real-time data. The group is also facing a backlash from investors and business partners. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_67459abbe546cd015ec2060f Tue, 26 Nov 2024 06:57:18 -0500 2024-11-27T02:36:05-05:00 Since the bribery indictment last week, Indian billionaire Gautam Adani's net worth has tumbled almost $16 billion to about $54 billion currently, according to Forbes real-time data. The group is also facing a backlash from investors and business partners. © 2024 Bloomberg Finance LP Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/11/25/northstar-backed-delta-dunia-doubles-down-in-australia-with-455-million-coal-mine-purchase/ A unit of Delta Dunia Makmur—an Indonesian miner backed by tycoon Patrik Walujo's private equity firm Northstar Group—has agreed to buy 51% of Dawson Complex, one of the largest metallurgical coal mines in Australia, for $455 million. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_674478411bfab50bc956d4d1 Mon, 25 Nov 2024 10:49:25 -0500 2024-11-27T02:36:05-05:00 A unit of Delta Dunia Makmur—an Indonesian miner backed by tycoon Patrik Walujo's private equity firm Northstar Group—has agreed to buy 51% of Dawson Complex, one of the largest metallurgical coal mines in Australia, for $455 million. getty Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/11/25/malaysian-billionaire-brothers-mr-diy-to-raise-297-million-in-jakarta-ipo/ Mr DIY Group,—founded by Malaysian billionaire brothers Tan Yu Yeh and Yu Wei—is raising as much as $297 million from the listing of its Indonesian unit, Daya Intiguna Yasa. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_67440ff5335d5464eb481969 Mon, 25 Nov 2024 01:52:31 -0500 2024-11-26T03:55:21-05:00 Mr DIY Group,—founded by Malaysian billionaire brothers Tan Yu Yeh and Yu Wei—is raising as much as $297 million from the listing of its Indonesian unit, Daya Intiguna Yasa. Courtesy of Mr. DIY Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/11/21/as-his-fortune-plummets-billionaire-gautam-adani-denies-bribery-charge-vows-to-fight-back/ Energy-to-ports billionaire Gautam Adani’s net worth took a hammering as shares of his listed companies plummeted after U.S. prosecutors accused him of orchestrating a $250 million bribery scheme. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_673ef0ee17100a1a35e6601b Thu, 21 Nov 2024 04:22:28 -0500 2024-11-26T03:54:37-05:00 Energy-to-ports billionaire Gautam Adani’s net worth took a hammering as shares of his listed companies plummeted after U.S. prosecutors accused him of orchestrating a $250 million bribery scheme. © 2024 Bloomberg Finance LP Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/11/19/billionaire-jitendra-virwanis-embassy-to-build-150-hotels-across-india-in-next-10-years/ Olive by Embassy—a unit of Indian billionaire Jitendra Virwani’s Embassy Group—will invest up to $533 million to build 150 Spark by Hilton hotels across India. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_673ca7a276145644cfe0f529 Tue, 19 Nov 2024 19:40:24 -0500 2024-11-21T03:02:43-05:00 Olive by Embassy—a unit of Indian billionaire Jitendra Virwani’s Embassy Group—will invest up to $533 million to build 150 Spark by Hilton hotels across India. Courtesy of Hilton Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/11/18/garuda-indonesia-replaces-ceo-in-latest-turnaround-effort/ Garuda Indonesia, backed by billionaire Chairul Tanjung, named Wamildan Tsani Panjaitan its new CEO in a fresh bid to turn around the money-losing company. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_673ae312cdd9917b45b968bd Mon, 18 Nov 2024 01:54:14 -0500 2024-11-21T03:01:55-05:00 Garuda Indonesia, backed by billionaire Chairul Tanjung, named Wamildan Tsani Panjaitan its new CEO in a fresh bid to turn around the money-losing company. Dimas Ardian/Bloomberg Asia /asia Asia /asia Indonesia’s 50 Richest 2023 /old-indonesia-billionaires-2023 Business /business Premium Content premiumcontent premium https://www.forbes.com/sites/yessarrosendar/2024/11/15/billionaire-mukesh-ambanis-reliance-disney-complete-85-billion-india-merger/ Reliance Industries—controlled by India’s richest person, Mukesh Ambani—and Walt Disney Co. have completed merging their Indian media assets, creating India’s largest entertainment company valued at $8.5 billion. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_6736e4620c9df3107d6d0e1b Fri, 15 Nov 2024 01:44:37 -0500 2024-11-18T03:29:20-05:00 Reliance Industries—controlled by India’s richest person, Mukesh Ambani—and Walt Disney Co. have completed merging their Indian media assets, creating India’s largest entertainment company valued at $8.5 billion. © 2024 Bloomberg Finance LP Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/11/13/indian-cola-tycoon-ravi-jaipurias-varun-beverages-expands-pepsi-franchise-in-africa/ Varun Beverages—founded by Indian billionaire Ravi Jaipuria, who is known as India’s cola king —is buying Pepsi bottling operations in Ghana and Tanzania for $169.6 million. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_67344a4d34ddfa71c9489d8d Wed, 13 Nov 2024 02:07:58 -0500 2024-11-14T02:37:37-05:00 Varun Beverages—founded by Indian billionaire Ravi Jaipuria, who is known as India’s cola king —is buying Pepsi bottling operations in Ghana and Tanzania for $169.6 million. © 2017 Bloomberg Finance LP Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/11/12/indonesian-billionaire-garibaldi-thohirs-adaro-energy-to-raise-291-million-from-coal-units-ipo/ Indonesian billionaire Garibaldi Thohir's Adaro Energy plans to raise up to $291 million through the IPO of its coal mining unit as the company aims to reduce exposure to fossil fuels. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_67332409571d8a14f4975f0d Tue, 12 Nov 2024 05:14:59 -0500 2024-11-13T03:14:07-05:00 Indonesian billionaire Garibaldi Thohir's Adaro Energy plans to raise up to $291 million through the IPO of its coal mining unit as the company aims to reduce exposure to fossil fuels. getty Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/11/05/indian-billionaire-yusuff-alis-lulu-retail-raises-size-of-abu-dhabi-ipo-to-17-billion/ Lulu Retail Holdings—a Middle East hypermarket chain founded by Indian billionaire M.A. Yusuff Ali—has priced its IPO at the top end of the price range, raising $1.7 billion in the United Arab Emirates’ biggest listing this year. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_6729e1ea8f119e589f2763b5 Tue, 05 Nov 2024 04:29:44 -0500 2024-11-06T06:21:23-05:00 Lulu Retail Holdings—a Middle East hypermarket chain founded by Indian billionaire M.A. Yusuff Ali—has priced its IPO at the top end of the price range, raising $1.7 billion in the United Arab Emirates’ biggest listing this year. Courtesy of Lulu Retail Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/11/04/granite-asia-ina-investing-up-to-12-billion-to-drive-indonesias-digital-transformation/ Granite Asia (formerly GGV Capital Asia) has partnered with the sovereign wealth fund Indonesia Investment Authority to invest up to $1.2 billion to help accelerate the digital transformation of Southeast Asia's largest economy. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_67285421e9f7092b472696a8 Mon, 04 Nov 2024 00:40:01 -0500 2024-11-05T02:50:00-05:00 Granite Asia (formerly GGV Capital Asia) has partnered with the sovereign wealth fund Indonesia Investment Authority to invest up to $1.2 billion to help accelerate the digital transformation of Southeast Asia's largest economy. Juliana Tan for Forbes Asia Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard https://www.forbes.com/sites/yessarrosendar/2024/11/01/tycoon-sunny-vergheses-olam-jumps-after-saudi-arabia-offers-to-buy-agribusiness-unit/ Shares of Olam Group—cofounded by Singaporean tycoon Sunny Verghese—surged on Friday after a state-owned Saudi investment firm offered to buy the Singapore-listed company’s agribusiness unit. Yessar Rosendar, Forbes Staff Yessar Rosendar, Forbes Staff https://www.forbes.com/sites/yessarrosendar/ content_67248303905c260b34b3ccec Fri, 01 Nov 2024 04:12:52 -0400 2024-11-04T02:47:22-05:00 Shares of Olam Group—cofounded by Singaporean tycoon Sunny Verghese—surged on Friday after a state-owned Saudi investment firm offered to buy the Singapore-listed company’s agribusiness unit. © 2017 Bloomberg Finance LP Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent standard