From Indonesia Today

Forbes cancels Indonesia edition

Last April, Forbes announced its plan to publish Indonesia edition in a JV with The Investor Group owned by Lippo Group and Tanri Abeng (former state-owned enterprises minister and currently president commissioner of PT Telkom Tbk). The magazine was scheduled to hit newsstands by September. But three months already passed, no Forbes in circulation. Today, the group's advertisement is about Globe Asia with its claim to be Indonesia's only english language business magazine.

The names behind Globe Asia are basically the same with those mentioned on Forbes April announcement. Tanri is the publisher, Rizal Ramli (former coordinating minister for the economy, currently president commissioner of state-owned PT Semen Gresik Tbk) as executive chairman, and John Riady (son of James Riady, leader of Lippo Group) as editor at large. Other names listed as contributing editors are Sandiaga Uno (president of Recapital Advisors, and Edwin's business partner), Ali Alatas (former foreign affairs minister under Soeharto administration), Farid Harianto (former IBRA deputy chairman), and Hikmahanto Juwana (professor of law at University of Indonesia).

It looks like Forbes with the soft launch issue on 400 richest people in Indonesia and tycoon Edwin Soeryadjaya on its cover. But it's not Forbes still.

"We failed to reach agreement on royalties with Forbes," my friend at Investor Group said.

Well, welcome to the jungle!
KuKuKaChu: dangerously too sophisticated