Bakrie Group

Bakrie Group is an Indonesian conglomerate whose origins lie in Bakrie & Brothers, a trading and distribution business established by Achmad Bakrie in Telukbetung, South Sumatra, in 1942. Over subsequent decades, the Bakrie family expanded the enterprise into a broad portfolio of industrial, natural-resource and consumer-facing businesses. Its activities have included coal mining, oil and gas, rubber and palm-oil plantations, steel and other manufactured products, construction, infrastructure, telecommunications, media, property development and sports ownership. The group is organized less like a single operating corporation than a network of affiliated companies and investment vehicles. Bakrie & Brothers is one of its principal corporate platforms, while listed and unlisted businesses operate with substantial autonomy. Companies associated with the group have included Bumi Resources and its mining subsidiaries, Energi Mega Persada in oil and gas, Bakrie Sumatera Plantations in agribusiness, Visi Media Asia in broadcasting and digital media, and Bakrie Telecom. The group has historically had a significant presence on the Indonesia Stock Exchange through its affiliated companies. Diversification accelerated after the 1950s, when Bakrie interests moved beyond trading into construction, agribusiness, mining, manufacturing and telecommunications. The acquisition of a controlling interest in a Sumatran rubber plantation company in 1986 strengthened the agricultural portfolio, and Bakrie & Brothers became publicly listed in 1989. During the 1990s, the group entered broadcasting through ANTV and telecommunications through Bakrie Telecom. It later developed a major energy and mining presence, including oil-and-gas exploration and large coal-mining assets. The Bakrie family has remained central to the group's governance and public identity. Nirwan Bakrie and Indra Bakrie have served as co-chairpersons, while Aburizal Bakrie chaired the group from 1999 to 2004 before pursuing ministerial and political roles. The next generation has also taken executive positions: Anindya Bakrie became chief executive of Bakrie & Brothers in 2019. The family's business interests have periodically attracted scrutiny because of corporate debt, financial-market volatility, environmental controversies and the political prominence of family members. Beyond Indonesia, the group has made selected international and venture investments. These have included ownership of Australian football club Brisbane Roar, a former investment in Belgian club C.S. Visé, and an investment connected with the Indonesian entertainment company BumiLangit Studios. Bakrie-affiliated entities have also pursued energy projects outside Indonesia, including operations connected with Mozambique. The group's current portfolio remains concentrated in Indonesia and is characterized by natural resources, media, infrastructure, agriculture and affiliated listed companies. Its history illustrates both the opportunities and risks of Indonesian conglomerate development: diversification created reach across multiple sectors, while commodity cycles, leverage, regulatory disputes and operational controversies have affected individual businesses and the wider family group.

Achmad Bakrie established N.V. Bakrie & Brothers in Telukbetung, South Sumatra, in 1942 as a general trading and distribution company. During the 1950s, the business broadened into construction, agribusiness, coal, oil and gas, telecommunications and manufacturing, including steel pipes, building materials and automotive components. A major agricultural expansion occurred in 1986, when Bakrie & Brothers acquired a 75 percent interest in PT Uniroyal Sumatera Plantations. The company was later renamed PT Bakrie Sumatera Plantations. Bakrie & Brothers entered the Jakarta Stock Exchange in 1989 under the BNBR symbol, creating a listed platform for subsequent expansion. The 1990s brought a substantial move into media and telecommunications. Cakrawala Andalas Televisi, later known as ANTV, was established in 1992 and began national broadcasting in 1993. In the same year, the group obtained a fixed-wireless telecommunications licence and developed Bakrie Telecom. The group subsequently expanded its energy portfolio: Energi Mega Persada was founded in 2001 to explore and develop oil and gas assets in Indonesia, and Bakrie interests acquired major stakes in coal businesses including Arutmin Indonesia and Kaltim Prima Coal in 2003. The group's resources exposure produced both scale and vulnerability. Commodity cycles and the 2008 global financial crisis significantly affected the value associated with the Bakrie family and its companies. Public controversy also followed the Sidoarjo mud-flow disaster connected with Lapindo Brantas, a Bakrie-affiliated company. The disaster displaced tens of thousands of people and became one of the most consequential environmental and political controversies associated with an Indonesian business group. During the 2010s, Bakrie-affiliated businesses continued to pursue international and media investments. Energi Mega Persada expanded into Mozambique through a subsidiary connected with the Buzi block. Bakrie Group acquired interests in football clubs including Belgian side C.S. Visé and Australian club Brisbane Roar, while its Indonesian sports portfolio included Pelita Jaya. In 2014, Bakrie Global Ventura invested in Path, a California-based private social-network company. In 2019, Visi Media Asia made an undisclosed investment in BumiLangit Studios, whose film Gundala subsequently became a notable Indonesian theatrical release. The group remained active across resources, plantations, infrastructure, media and affiliated listed companies. It also pursued the proposed Tanjung Jati A coal-fired power station in Central Java, a project that remained in government electricity planning for years before its environmental permit was revoked by the Bandung State Administrative Court in 2022 following a challenge by WALHI. The project's sponsors did not appeal within the applicable period, leaving the project cancelled. Governance has continued to involve several generations of the Bakrie family. Nirwan and Indra Bakrie have served as co-chairpersons, while Aburizal Bakrie moved from group leadership into government and politics. Anindya Bakrie became CEO of Bakrie & Brothers in 2019 and was elected chairman of the Indonesian Chamber of Commerce in 2024. The group's present identity is therefore a combination of family-controlled holding interests, listed affiliates and sector-specific operating companies rather than a single consolidated corporation.

• 2022

  Tanjung Jati A permit revoked

  [1]Bakrie Groupen.wikipedia.org

  A court revoked the environmental permit for the proposed Central Java power project after a legal challenge.

• 2019

  Anindya Bakrie becomes Bakrie & Brothers CEO

  [1]Bakrie Groupen.wikipedia.org

  Anindya Bakrie assumed the chief executive role at Bakrie & Brothers.

• 2003

  Major coal acquisitions

  [1]Bakrie Groupen.wikipedia.org

  Bakrie interests acquired substantial stakes in Arutmin Indonesia and Kaltim Prima Coal.

• 2001

  Oil-and-gas expansion

  [1]Bakrie Groupen.wikipedia.org

  Energi Mega Persada was founded to develop and explore Indonesian oil and gas assets.

• 1992

  ANTV established

  [1]Bakrie Groupen.wikipedia.org

  The group established Cakrawala Andalas Televisi, which began national broadcasting the following year.

• 1989

  Bakrie & Brothers listed

  [1]Bakrie Groupen.wikipedia.org

  Bakrie & Brothers was listed on the Jakarta Stock Exchange, now the Indonesia Stock Exchange, under BNBR.

• 1986

  Entry into large-scale plantations

  [1]Bakrie Groupen.wikipedia.org

  Bakrie & Brothers acquired a 75 percent stake in Uniroyal Sumatera Plantations, later renamed Bakrie Sumatera Plantations.

• 1942

  Bakrie & Brothers founded

  [1]Bakrie Groupen.wikipedia.org

  Achmad Bakrie established N.V. Bakrie & Brothers in Telukbetung, South Sumatra, as a trading and distribution company.

A diversified Indonesian family business group combining natural resources, industrial assets, infrastructure and media with a portfolio-investment model.

• Mining

  Coal and mineral resources

  Bakrie-affiliated mining companies have operated major Indonesian coal assets, including Arutmin Indonesia and Kaltim Prima Coal, alongside mineral interests held through Bumi Resources Minerals. The portfolio has made mining one of the group's defining business sectors.

• Energy · 2001

  Oil and gas assets

  Energi Mega Persada develops and explores oil-and-gas properties through production-sharing contracts and related interests in Indonesia, with historical expansion into Mozambique. Its asset base has included the Bentu, Gebang, Kangean, Malacca Strait and Tonga areas.

• Agribusiness · 1986

  Rubber and palm-oil plantations

  Bakrie Sumatera Plantations operates plantation businesses in Sumatra focused on rubber and palm oil. The company has been associated with extensive landholdings and plantation operations in one of Indonesia's principal agricultural regions.

• Media and entertainment · 1992

  Television and digital media

  Through Visi Media Asia, Bakrie interests have included free-to-air television networks such as antv, tvOne and VTV, as well as the viva.co.id digital media portal. This portfolio represents the group's continuing presence in Indonesian broadcasting and online media.

• Infrastructure and manufacturing

  Industrial and infrastructure services

  Bakrie & Brothers and related companies have worked across industrial manufacturing, construction, transportation, water, electricity and other infrastructure projects. Historical manufacturing activities included steel pipes, building materials and automotive components.

• Sports · 1987

  Pelita Jaya Bakrie

  Pelita Jaya Bakrie is a basketball club founded by the Bakrie Group in 1987. It competes in Indonesia's national basketball league and has won three national league championships according to the cited reference material.

• Sports · 2011

  Brisbane Roar

  Bakrie Group acquired Australian A-League club Brisbane Roar through PT Pelita Jaya Cronus. The group initially acquired a majority stake and was later reported to have obtained full ownership. The club experienced financial and administrative difficulties during the ownership period.

• 2022

  Tanjung Jati A environmental-permit dispute

  The proposed coal-fired Tanjung Jati A power station faced a legal challenge from WALHI. The Bandung State Administrative Court revoked its environmental permit, and the sponsors did not appeal by the deadline, leaving the project cancelled.

  Source

• 2006

  Sidoarjo mud-flow disaster

  The Lapindo Brantas drilling operation, associated with Bakrie interests, became linked to the Sidoarjo mud-flow disaster in East Java. The eruption displaced more than 40,000 people and led to sustained environmental, legal and political controversy.

  Source

Read more

• 2019BumiLangit Studios investment

  Indonesia

  A Visi Media Asia investment connected Bakrie Group with BumiLangit Studios, an Indonesian character and entertainment company developing a local superhero universe.

  Outcome. The investment supported the development of Indonesian superhero content; BumiLangit's Gundala was released in 2019 and became a theatrical success.

  Source

• 2022

  Failure to appeal Tanjung Jati A permit rulingOther

  Background

  The environmental permit for the proposed power station was revoked following a legal challenge.

  Action taken

  The project's sponsors did not appeal the court decision within the deadline.

  Aftermath

  The project remained cancelled after the permit revocation became final in practical terms.

  Source

• 2020

  Coal-to-methanol development agreementStrategy

  Background

  The group sought downstream uses for coal and new industrial opportunities in East Kalimantan.

  Action taken

  Bakrie Capital Indonesia signed an agreement with Air Products to develop a proposed coal-to-methanol facility.

  Aftermath

  The project was described as a proposed US$2 billion development; no completed operational outcome is established in the cited material.

  Proposed project cost. US$2 billion (2020 proposal)

  Source

• 2003

  Acquisition of major coal interestsM&A

  Background

  Bakrie Group was expanding its natural-resources portfolio and seeking a larger position in Indonesia's coal industry.

  Action taken

  Bakrie interests acquired stakes in Arutmin Indonesia and Kaltim Prima Coal from international mining owners.

  Aftermath

  The acquisitions established coal mining as a core pillar of the group's business portfolio.

  Source

• 2020

  Bakrie Group enters coal-to-methanol project discussions[1]Bakrie Groupen.wikipedia.org

  Other

  Bakrie Capital Indonesia signed an agreement with Air Products concerning development of a proposed coal-to-methanol facility in East Kalimantan.

• 2020

  Bakrie & Brothers furloughs staff during COVID-19 disruption[1]Bakrie Groupen.wikipedia.org

  Other

  The company furloughed 153 employees for at least three months and introduced salary-reduction measures affecting approximately 800 employees as business activity weakened during the pandemic.

1. 1Bakrie Groupen.wikipedia.org