Profile
Astra International Tbk
PT Astra International Tbk was established by brothers Tjia Kian Tie and William Soeryadjaya, Chinese descendants who had lived in Indonesia for a few generations.
William had a close relationship with Soemitro Djojohadikusumo, a prominent economist who was trusted by two presidents – Soeharto and Soekarno – to shape the nation’s economic landscape.
William managed to build up a list of exclusive automotive distribution rights, including with Toyota, Izusu, Daihatsu, BMW, and Nissan.
In 1980s, Astra began it assembling operations for certain model of Daihatsu and Isuzu vehicles. In the same decade, Astra sealed the exclusive distribution rights for Honda motorcycle.
The company changed its name into PT Astra International Tbk (ASII) after it undertook an initial public offering in 1990.
Founder Lost Control
The Soeryadjaya family controlled 82 percent stake in Astra before in 1992 was forced to give up their ownership, following the collapse of Bank Summa, a lender led by Edward Soeryadjaya, the eldest son of William. The lender suffered a staggering bad debts, due to its over aggressive expansion.
Astra then fell into the hand of the Soeharto family’s cronies. Despite that, the new investors kept top managements were still the same.
It was William’s inheritance who had set the foundation at the company, including a policy for hiring top managers and upper position from professionals.
Under the command of Rini Suwandi, who was backed by the Soeharto family, Astra managed to restructure a big chunk of its debt payments.
In late 1990s, Edwin Soeryadjaya, the second son of William made a bid, through US-based Newbridge & Gilbert, to regain ownership in Astra. Suwandi blocked the effort and the acquisition failed.
In 1998, following the collapse of the Soeharto regime, the government put 45 percent of Astra shares under the control of the Indonesian Bank Restructuring Agency (IBRA).
Under the control of IBRA, Suwandi was fired and replaced by Theodore Rachmat, a long time Astra’s president director. Rachmat had a close relation with the Soeryadjaya family.
Under the debt restructuring scheme, IBRA in 2000 sold 40 percent of Astra to a consortium led by Cycle & Carriage Ltd, which is controlled by Hong Kong’s Jardine Strategic Holdings.
Cycle & Carriage is the distributor of Mercedes-Benz in Southeast Asia.
In May 2000, Edwin Soeryadjaya was appointed as one of the commissioner at Astra, marking the comeback into the company, despite they did not control the company anymore.
Today’s Business
The Company is now engaging in six diversified businesses. They are automotive; finance; heavy equipment and mining; agribusiness; infrastructure and logistic and information technology.
| Security Code | : | ASII |
| Office Address | : | Jl. Gaya Motor Raya No. 8, Sunter II, Jakarta |
| Mail Address | : | aminuddin@ai.astra.co.id |
| Phone | : | (021) 652-2555 |
| Fax | : | (021) 6530-4957 |
| NPWP | : | 01.302.584.6-091.000 |
| NPKP | : | - |
| Website | : | www.astra.co.id |
| Listing Date | : | 04-Apr-1990 |
| Board | : | Primary |
| Main Bussiness | : | General Trade |
| Sector | : | MISCELLANEOUS INDUSTRY |
| Sub Sector | : | AUTOMOTIVE AND COMPONENTS |
| Stock Administration Berrau | : | PT Raya Saham Registra |
Ownership
Shareholders :
| Shareholders Name | Shareholders Type | Number of Share | Percentage |
|---|---|---|---|
| Jardine Cycle and Carriage Limited | More Than 5 % - Controlling Shareholder | 2028825504 | 50.11 % |
| Budi Setiadharma | Director and Commissioner | 849000 | 0.02 % |
| Public | Less Than 5% | 2019529810 | 49.89 % |
Key Executive
Director :
| Director’s Name | Director’s Position | Independent |
|---|---|---|
| Prijono Sugiarto | President Director | Yes |
| Widya Wiryawan | Director | Yes |
| Gunawan Geniusahardja | Director | Yes |
| Angky Tisnadisastra | Director | Yes |
| Johannes Loman | Director | Yes |
| Johnny Darmawan Danusasmita | Director | Yes |
| Sudirman M. Rusdi | Director | Yes |
| Djoko Pranoto | Director | Yes |
| Simon Collier Dixon | Director | No |
Comissioners :
| Commissioner’s Name | Commissioner’s Position | Independent |
|---|---|---|
| Budi Setiadharma | President Commissioner | No |
| Muhamad Chatib Basri | Commissioner | Yes |
| Erry Firmansyah | Commissioner | Yes |
| Anthony John Liddell Nightingale | Commissioner | No |
| Mark Spencer Greenberg | Commissioner | No |
| Jonathan Chang | Commissioner | No |
| Djunaedi Hadisumarto | Commissioner | Yes |
| Soemadi Djoko Moerdjono Brotodiningrat | Commissioner | Yes |
| Kyoichi Tanada | Commissioner | Yes |
| Benjamin William Keswick | Commissioner | No |
| Chiew Sin Cheok | Commissioner | No |
| David Alexander Newbigging | Commissioner | No |
