Headline, November11, 2013

''' INDONESIA'​S ''RAINBOW'​' 

HAPPINESS '''

Millions by millions of Indonesian's are becoming middle-class consumers. So let's see what billionaire Chairul Tanjung has:

Chairul, the son of a journalist, has built his conglomerate Para Group without any ''connections''.   ''I am nobody.  I am not the son of a President, and I am not the brother of somebody. So if I can do it, then anybody can,'' says Chairul, 50.

While most superrich are ethnic Chinese, Chairul, ranked No.18, is one of the few Pribumi   -meaning, native Indonesian.  ''He is part  of the new face of indigenous businessmen,'' says James Castle. chairman of CastleAsia, a consultancy in Jakarta.

And he is a businessman with a taste for megadeals, as was shown just some years ago, when he acquired for  $300 million a 40% stake in retailer PT Carrefour Indonesia from the parent company, France's Carrefour, which retains 60%.

For the acquisition Chairul raised $ 300 million from  such blue-chip investors as Credit Suisse and Citibank. Para Group at the time, had $350 million in total debt.

His philosophy in expanding business : ''Buy the future with present value.'' Therefore Chairul plans to expand Carrefour to 100 stores, from 80 at the time of the acquisition, and will add another 100 by 2016. ''Even in Papua,'' he boasts.

Chairul's success comes in large part from his talent to understand, and sell to, the same group from which he rose. With the economy booming, millions by millions are entering the middle class and creating a consumer society.

Last year 10% of the country's 240 million had an annual income above $10,000, while another 30% has an incomes from $1,000 to $10,000 according to the government statistics bureau. ''All our businesses are driven by a consumer focus,''  Para Group Director Ashish Saboo.

Chairul is a master of synergizing these businesses. Consumers can use their Mega Credit Cards to shop at Carrefour or buy goodies of every make. And after recharging with beverages from his Coffee Bean cafes, shoppers can head to his theme parks.

There they can have ice-cream at Baskin-Robbins stores. His TV stations run ads for these products and rides at the theme parks are tied to his TV shows as Dunia Lain -meaning, the Haunted World.

A favourite business for Chairul is Theme Parks. Just two years ago, he opened Trans Studio, one of the world's biggest indoors theme parks, in Makassar. Chairul plans to build another 20 parks nationwide, including Trans Studio in Jakarta, which is expected to be the largest park in South east Asia.

Looking ahead, Chairul is confident that Para Group  -is to be rebranded CT Corp and that it can flourish over the next many years. ''Profits can be doubled and tripled easily. I believe in this country. It is growing,'' he says.

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SAM Daily Times - the Voice of the Voiceless