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T op Group s
3
Djarum Group
Private
Banking, cigarettes, plantations, electronics
Robert B. Hartono & Michael Hartono
$9.0 billion
1
Jardine Mathesson
(Astra International)
Foreign/UK
Automotive, plantations, mining,
infrastructure, finance, IT
Henry Keswick and family
$ 14.7 billion
Astra International is moving into the
digital economy with the group’s recent
$150 million investment in Go-Jek. This
is part of a $1.2 billion investment in the
Indonesian ride-hailing firm, along with
Google’s holding company, Alphabet, and
Kohlberg Kravis Roberts (KKR). While its
automotive arm is still leading, Astra is
now focused on infrastructure projects,
with the construction of more than 353
kilometers of roads. Some 269 kilometers
of that, which form part of the Trans-Java
Toll Road Project, are already in use. The
Astra International Group, an investment
holding company controlled by the family
of Hong Kong businessman Henry Keswick,
currently has six toll road projects: PT
Marga Mandalasakti, PT Marga Harjaya
Infrastruktur, PT Marga Trans Nusantara,
PT Trans Marga Jateng, PT Trans Bumi
Serbaraja and PT Lintas Marga Sedaya,
most of them on Java Island.
The group’s banking and finance businesses remain
significant drivers of expansion. Subsidiary Bank Central
Asia (BCA) announced plans earlier this year to acquire Bank
Ganesha to serve the group’s diversified market segment. The
Djarum Group’s electronic and technology subsidiary, Hartono
Electronics, grows at around 10 percent per year, leading in
audio and video products. While its plantation business has
access to more than 150,000 hectares, it also has interests in
the technology sector through PT Sarana Menara Nusantara,
which owns and operates telecommunication towers for
wireless operators, controlling around 40 percent of the
market. The group further owns online marketplace .
Djarum also made a major investment in Go-Jek this year,
along with Astra International. Despite massive anti-tobacco
campaigns, the group still derives a significant portion of its
income from its cigarette business, with subsidiary PT Djarum
Kudus, Indonesia’s third-largest cigarette producer, having
posted stable growth over the past five years.
moh. defrizal/ga photo