CT Corp Targets Become The World Player

Photo by The Insider Stories
JAKARTA (TheInsiderStories) – Conglomerates and Indonesian businessman Chairul Tanjung has told his dream of magnitude in building a business empire CT Corpora over the next five years. Not satisfied with the coffers of businesses he produces, targeting someday the company will be The Best Players in the Global Market.
Meeting after the press conference of Mega Bank Strategic Partnership with global insurance company Prudential Financial Inc at The Mega Tower on July, 17, the Son of man with the nickname the cassava’s kid bluntly expresses his business plan to achieve his dream as the world’s best player. Listen excerpts of the interview.
Q: How can you become a father for Global Players?
CT: We’re going to the institutionalization of all companies in the CT Corp. So, all the companies will lead into partnership with whiz-whiz (company), The Best and the Biggest In The World. But the majority in the partnership entity remains to be held by CT Corp.
Q: How long do you target to become the Best Player?
CT: My goal is for five years time ahead. All subsidiaries of CT Corp will be institutionalized to become The Best Player in the World. One by one, said subsidiaries will be explored. Just wait for the announcement.
Q: To partnering with a global company, will it lead your company into global player?
CT: Do not forget, we are in the position to have partner of world-class player. Supposedly, we have 100 companies, the biggest company in the sector in the world. CT Corp expanded on unorganic growth for 5-10 years. We did it always through unorganic, not only within the country.
Q: Don’t you plan to enter capital markets?
CT: There’s time. We definitely will go in as one of the biggest companies in the country. We’re just waiting for the right time. To date, we have not had a plan for an IPO, but we will definitely target IPO of subsidiaries. Our first step is to seeking strategic partnership, developing sub-holding, and the the holding.
Bank Mega, owned by CT Corp has launched initial public offering (IPO) and listed as public company. But this action is considered too early as its price was mercy.
Q: Are you not keen to expand outside?
CT: Certainly! All that there is a niche market, and gap. For example is China. Everyone want to get over there because the country has huge population. Competition is certainly more difficult. Now, if we become a global player, do not have to enter your own from scratch.
Q: How much investment are prepared by CT Corp. for next five years?
CT: A sizeable investments. For this year, we spend for almost US$ 1 billion for the retail business sector. We are targeting to develop 30 outlets of Trans Mart which cost Rp400 billion each. So the investment in Trans Mart could total Rp12 trillion. That’s just business. So do not play the same cave. We are one and the only private that invest heavily in the country. Because I believe about my country, I believe about my consumers.
Earlier last year, CT Corp sold portion of Trans Retail (which operates Carrefour and Trans Mart retail brands) to Singapore sovereign wealth fund GIC with investment of $387 million. CT Corp spent over US$1 billion to acquire Carrefour Indonesia in April 2010 and 2012.
This deals might trigger speculation about CT Corp’s other investments. CT Corp’s investments in pay TV, airline, and premium fashion retail, can’t be considered successful. Some also doubt CT Corp’s agriculture business, but they believe media business is still doing fine.
Bank Mega’s financials also improved. CT Corp has expanded its property business with construction of apartments in suburban areas of Jakarta. (CS)