49 / 76
47
august
, 2018
40
TNT Group
Private
Property, finance, energy
Teddy Thohir
$1.1 billion
The TNT group is a huge family business owned
by the Thohir family. It controls among others,
the powerful PT Adaro Energy Tbk, which
focuses on coal mining in its principal location
in Tabalong district, South Kalimantan. PT Adaro
Indonesia operates the largest single-site coal
mine in the southern hemisphere. The company
has rebounded significantly due to rising coal
prices. While Garibaldi “Boy” Thohir looks after
the TNT Group’s significant interest in the Adaro
coal empire, brother Erick Thohir has been
focusing on Indonesia’s preparations for the 2018
Asian Games, hosted by Jakarta and Palembang,
South Sumatra, in August and September.
42
Bosowa Group
Private
Industry, infrastructure, finance, energy
Aksa Mahmud
$1.0 billion
The business group has grown into a major player in eastern Indonesia. The
company has diversified its business into financial services and the cement,
automotive, infrastructure, power-plant, property and natural resources-
based industries. The cement-producing subsidiary, which forms the core
of the group, is capable of producing 7.2 million tons per year. In energy, the
group operates a 2x125 megawatt steam-powered power plant in Jeneponto,
South Sulawesi. The group also has port operations in Jeneponto and
Makassar, South Sulawesi, as well as in Banyuwangi, East Java. The group is
currently eyeing the agricultural industry through its subsidiary PT Bosowa
Agro to develop superior rice and corn varieties in Maros, South Sulawesi,
while two other subsidiaries, PT Bantimurung Indah and PT Bosowa Isuma, are
developing seaweed and fish farms. The group is also exploring new ventures
in coal and tin mining.
41
Heidelberg Cement Group
(Indocement)
Industry
Foreign/Germany
$1.0 billion
Indonesia’s second-largest cement
producer still finds itself in troubled
waters amid over-capacity in the
local industry, while its share price
has dropped by more than 40 percent
over the past six months. However,
amid the national infrastructure
push, the company is banking on
increased demand for cement this
year. A decline in the property sector
affected the cement industry and
exerted extreme pressure on its share
price. The company previously planned
to increase its product prices by 2
percent, which is set to test the waters
after a 7 percent price slump in market
prices in the first quarter. Indocement
president director Christian Kartawijaya
said it was an attempt to improve the
company’s sales margin.