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www.globeasia.comT op Group s
16
Triputra Group
Private
Mining, plantation, finance, transportation
TP Rachmat
$2.8 billion
The Triputra Group, founded by former Astra
International top executive Theodore “Teddy”
Permadi Rachmat, is currently expanding its
business portfolio in the commodity sector,
including agricultural products such as cassava and
palm oil. Triputra is a significant player in palm oil
and rubber plantations. Besides commodities, the
group also has investments in mining, logistics and
clothing manufacturing. It controls a significant
stake in Adaro Energy, Indonesia’s second-largest
coal producer by volume. The group also owns
Apparel One Indonesia, a manufacturer of clothing
brands such as Esprit, Ralph Lauren, Mexx and
Adidas. It recently completed a second factory in
Semarang, Central Java.
17
Wings Group
Private
Consumer goods, property, plantations
Eddy William Katuari
$2.8 billion
The Wings Group is one of the three giants in the consumer product
business in Indonesia. The group, founded in East Java 60 years
ago, had its initial success in the production and sale of detergents
and baby-care products. It is since become a major player in fast-
moving consumer goods. The company launched an ice cream
business last year, in collaboration with Japan’s Ezako Gloco in a
bid to meet strong demand in Indonesia. This initiative adds to the
already long list of products produced by Wings. The group has
diversified interests in plantations, packaging, oleo-chemicals and
property. Wings exports to more than 80 countries, including in
Africa and the Middle East. It competes with other major players
such as Indofood, Unilever and Mayora.
15
Unilever (Mavibel BV)
Consumer goods
Foreign/Dutch
$2.9 billion
PT Unilever Indonesia Tbk, the local arm
of Anglo-Dutch conglomerate Unilever,
is engaged in the manufacturing,
marketing and distribution of fast-
moving consumer goods. It recently
sold its margarine and spreads
business to US-based private equity
firm KKR & Co for $210 million to focus
on its core products in the home-
and personal-care categories, such
as shampoos, soaps, toothpastes,
deodorants and food items such as ice
creams, teabags, soy sauce, fruit juice
and seasonings. Analysts say Unilever
Indonesia’s performance remains
strong on the back of steady consumer
demand in Southeast Asia’s largest
economy for its products despite a
weakening currency, which may erode
its margins.