Industry & Energy

Arsjad Rasjid Mangkuningrat

Arsjad Rasjid Mangkuningrat’s remarkable performance as President Director is credited for Indika Energy’s amazing turnaround


Arsjad Rasjid Mangkuningrat is the current President Director of Indika Energy. Under his guidance, the company underwent an astonishing turnaround from losing millions of dollars—affected by the decline of coal prices—to an increase in the company’s assets by about seven times within six years. His success is credited to creating values and synergy to align the vision of the company, and by cutting out inefficient expenses.

Mangkuningrat also headed the diversification of Indika Energy to non-coal sectors like gold, digital technology and renewable energy. He was recently elected as the Chair of the Indonesian Chamber of Commerce and Industry (KADIN) for the next five years, committed to jumpstarting the national economy after the pandemic.

Mangkuningrat is a graduate of the University of Southern California and Pepperdine University, California, and was awarded a Young Global Leader by the World Economic Forum in 2011. He completed educational courses at INSEAD in France, the Harvard Kennedy School, USA, and the Lee Kuan Yew School of Public Policy, Singapore. He is also passionate about social entrepreneurship.

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Another vital facet of the company’s turnaround was diminishing the number of people at the top level. Mangkuningrat cut the board of directors from seven to three.

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