Globe Asia

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T op Group s
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Northstar Group
Private Equity Firm
Financial and bank service, mining, trading,
manufacturing
Patrick Walujo and Glenn Sugita
$ 2.1 billion
The Singapore-based private equity firm,
founded by Indonesian businessmen Patrick
Walujo and Glen Sugita, has holdings in some
public companies in Southeast Asia’s biggest
economy through Bank BTPN, multi-finance
company BFI Finance, bread maker Dunia
Makmur Jaya, coal miner Delta Dunia Makmur,
tire maker Multistrada and telecommunications
product retailer Trikomsel. The group manages
about $2 billion in assets in several member
states of the Association of Southeast
Asian Nations (Asean) and has invested in
multiple portfolios in the region. The company
is associated with some large business
conglomerates such as the Triputra Group of
tycoon T.P. Rachmat – a veteran businessman
with a solid track record in Indonesia’s largest
group, Astra International.
23
Gajah Tunggal Group
Private
Tires, Retails, manufacturing
Sjamsul Nursalim
$2.0 billion
PT Gajah Tunggal Tbk is a major manufacturer of tires
and automotive parts. The group also has a stake
in the retail industry through PT Mitra Adi Perkasa
(MAP), which operates department and specialty
stores in Indonesia. The tire business still shines as the
company is seeking to increase its production of bus
and truck tires. It has allocated $40 million for capital
expenditure this year, with part of it earmarked for
expansion of its production capacity. Gajah Tunggal
recently also sealed a deal with Inoue Rubber Co. of
Japan for the production of motorcycle tires. However,
the group’s retail business has not been performing
as well this year amid tough competition and weak
consumer purchasing power.
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Panasonic Gobel Group
Private
Electronics, property
Rahmat Gobel
$1.8 billion
As a market leader in household electronic goods in
Indonesia, PT Panasonic Gobel has, in collaboration with
Panasonic Japan, continued to venture into the production
of medical equipment, such as glucose monitors, imaging
monitors, dental intra-oral cameras, incubators and ultra-
low temperature freezers. It pioneered sustainable energy
solutions using photovoltaic panels linked to toxic waste-free
dry batteries. The group also has interests in the property
sector through Panahome Gobel Indonesia, which builds
environmentally friendly homes. The group also released 25
new television products ahead of the 2018 Asian Games. The
move is a reflection of PT Panasonic Gobel Indonesia’s history
as a supplier of black-and-white television sets in Indonesia
prior to the fourth Asian Games, hosted by Jakarta in 1962.
The group also continues to present the annual Panasonic
Gobel Awards to recognize achievements in Indonesia’s
television industry.