Forums and Chat for Indonesia's English-speaking community
Topic Options
Rate This Topic
#48116 - 23 Mar 07 11:09 Trouble @ THE POINT
riccardo Offline
Pujangga

Registered: 12 Oct 05
Posts: 2195
Loc: Jakarta
This may be old-ish news to some. I first got wind of it nearly two weeks ago, but it's sounding like the 6-month-old English-language daily may be on its last legs. One of the main shareholders/investors, Rennier Latief (also Direktur Utama of Lapindo Brantas, which is owned by Bakrie & Bros. group), has reportedly pulled the plug due to the fact that he needs to pay millions of $$ in compensation to the mudflow victims.

It's not clear if they will just fold up shop or are actively seeking new investors. One local tabloid claims that a business partner close to Veep Kalla may be interested.

I think there's a bit more to this story and I know some JCers that should have some more inside info, but we'll wait until they're ready to tell...

One thing I'd like to know is how much of an investment would it require??? Any ideas?


_________________________
Just here proffering my pearls to swine, my throat to wolves and my trousers to the flagpole.

Top
#48121 - 23 Mar 07 11:43 Re: Trouble @ THE POINT [Re: riccardo]
riccardo Offline
Pujangga

Registered: 12 Oct 05
Posts: 2195
Loc: Jakarta


Rennier Abdul Rachman Latief


He's also a former president and current commissioner of PT Energi Mega Persada. Here's his bio from EMP's website:

Together with his group of partners, Rennier A. R. Latief (Pak Rennier) was the driving force behind the establishment of the company in the mid-1990ís. He started his career at Philips Petroleum as a Geologist in the late 1970ís. In 1986, he moved to Huffco International with his last position as the Senior Staff Geologist. He then joined VICO as Exploration Manager in 1994. In 1995, Pak Rennier, with his partners, acquired the Malacca Strait PSC from Lasmo. At that time, the block produced around 20,000 bopd with 18 mmbbls of proven reserves remaining. Today, the Block still produces at 10,000 bopd, with 28 mmbbls of proven reserves remaining. In 1996, his group took over the Brantas PSC from Huffco, and his leadership was instrumental in Brantas starting commercial production just 3 years later. Today, the block produces some 65 mmcfd with the remaining proven reserve of 60 Bcf. Pak Rennier has now overseen the combination of a disparate group of assets, the creation of a listed company and he put in place the strategic threads and impetus to bring the assets together to create significant shareholder value. The latest achievement of Pak Rennier and the company was the successful acquisition of the Kangean PSC from BP in late 2004 and a dominant position in the supply of gas to East Java. Pak Rennier has now stepped down as President Director (May 2005) and he is now a Commissioner.
_________________________
Just here proffering my pearls to swine, my throat to wolves and my trousers to the flagpole.

Top
#48130 - 23 Mar 07 12:04 Re: Trouble @ THE POINT [Re: riccardo]
KuKuKaChu Moderator Offline
Pooh Bah

Registered: 09 Oct 05
Posts: 10790
Loc: Centre of the Universe
well, this is all very fascinating.

i'm surprised that anyone would be interested in taking it over. at least on a commercial basis. newspaper moguls nowdays have political rather than commercial motives.

but either way, they've got the model all wrong. they should be starting online, and then producing a print edition. not the other way round.

indonesia's money&power men do not yet understand the new media paradigm. until they do, their ventures are doomed to fail.

_________________________
KuKuKaChu: dangerously too sophisticated

Top
#48146 - 23 Mar 07 14:33 Re: Trouble @ THE POINT [Re: KuKuKaChu]
Polisi Cepek Offline
Member*

Registered: 17 Mar 07
Posts: 809
Loc: Di tengah hutan
Kuku, You're spot on about the lack of a website. Abject incompetence that it's been publishing for half a year but it's not available online.
_________________________
"Some people think I've been flogging my own sausage," he joked.

Top
#48150 - 23 Mar 07 15:48 Re: Trouble @ THE POINT [Re: Polisi Cepek]
Patung Offline
Member++

Registered: 11 Mar 06
Posts: 234
Loc: Indonesia
It's exasperating how dumb people here can be about the internet, I think they just associate it with porn or with idle, juvenile, wasting time stuff like chatting.

Anyway the new york times boss said recently he wasn't sure if they would even keep printing a paper in five years time.
http://www.haaretz.com/hasen/spages/822775.html
_________________________
http://www.indonesiamatters.com/

Top
#48160 - 24 Mar 07 07:08 Re: Trouble @ THE POINT [Re: KuKuKaChu]
doremi Offline
Member+++

Registered: 17 Jan 07
Posts: 488
Loc: slouch couch
Quoting: KuKuKaChu


indonesia's money&power men do not yet understand the new media paradigm. until they do, their ventures are doomed to fail.



This new media paradigm will only work if there is infrastructure to support it. If I remember reading one of your posts about the number of people with Internet, just about 2 million(not sure about the number),connection costs and computer literacy and may be the affordability of pcs.



Top
#48162 - 24 Mar 07 07:19 Re: Trouble @ THE POINT [Re: doremi]
KuKuKaChu Moderator Offline
Pooh Bah

Registered: 09 Oct 05
Posts: 10790
Loc: Centre of the Universe
Quoting: nwgirl
Quoting: KuKuKaChu


indonesia's money&power men do not yet understand the new media paradigm. until they do, their ventures are doomed to fail.

This new media paradigm will only work if there is infrastructure to support it. If I remember reading one of your posts about the number of people with Internet, just about 2 million(not sure about the number),connection costs and computer literacy and may be the affordability of pcs.

not so much pcs, but rather PDAs and internet connected smartphones, 3G and otherwise. these are ubiquitous in indonesia, and news delivery tailored to these small-screen devices is becoming more prevalent.

so, we are not just talking about official numbers of internet users who use a PC, but the tens of millions more who own a PDA or smartphone.

also, when talking about the english-speaking market within indonesia, you are referring to a demographic that is very small, relatively wealthy, and educated.

in brief, the infrastructure is with us now. the demographic, whilst small, can certianly support another english-language news supplier.

remember that indonesia's leading english-language media -- The Jakarta Post newspaper -- only has a circulation of 25,000. and falling.
_________________________
KuKuKaChu: dangerously too sophisticated

Top
#48174 - 24 Mar 07 08:23 Re: Trouble @ THE POINT [Re: KuKuKaChu]
doremi Offline
Member+++

Registered: 17 Jan 07
Posts: 488
Loc: slouch couch
"not so much pcs, but rather PDAs and internet connected smartphones, 3G and otherwise. these are ubiquitous in indonesia, and news delivery tailored to these small-screen devices is becoming more prevalent.

so, we are not just talking about official numbers of internet users who use a PC, but the tens of millions more who own a PDA or smartphone."

You're absolutely right, I seemed to overlook that part, people with cellphones,PDAs, etc.

If textmessaging is a big business, then why not sell news?

Top
#48179 - 24 Mar 07 09:52 Re: Trouble @ THE POINT [Re: doremi]
KuKuKaChu Moderator Offline
Pooh Bah

Registered: 09 Oct 05
Posts: 10790
Loc: Centre of the Universe
Quoting: nwgirl
You're absolutely right, I seemed to overlook that part, people with cellphones,PDAs, etc.

If textmessaging is a big business, then why not sell news?

the subscriber model is still viewed as viable by some media outlets. (see New York Times article mentioned by patung).

personally, i feel that subscriber models will die out and be replaced with the dominant model today, which is advertiser supported free content.

the problem with PDAs is small screen space, meaning less room for advertising. so a little more inovation will be needed to better accomodate advertising on small screen systems, without it becoming obtrustive.
_________________________
KuKuKaChu: dangerously too sophisticated

Top


Moderator:  kenyeung, NetCop