Wikipedia

CT Corp

"Para Group" redirects here. Not to be confused with Paragroup.
Not to be confused with CT Corporation.

CT Corp (formerly known as Para Group) is one of Indonesia's largest diversified conglomerates. The group was founded by Chairul Tanjung in 1987. CT Corp operates consumer-centric businesses nationwide across four key industries: financial services, media and entertainment, retail, as well as property.

PT CT Corpora
CT Corp
FormerlyPara Group (1987–2011)
Company typePrivate
IndustryConglomerate
Founded1987; 37 years ago (1987)
FounderChairul Tanjung
HeadquartersJakarta, Indonesia
Key people
Chairul Tanjung (Chairman)
Chairal Tanjung (Group Director)
Guinandra Jatikusumo (Group Director)
ProductsFinancial services
Media
Retail
Property
OwnerChairul Tanjung
SubsidiariesMega Corp
Trans Corp
Websitectcorpora.com

History edit

Early history edit

CT Corp started out as a small children's shoes export business with a capital of Rp 150 million, which Chairul Tanjung obtained from Bank Exim.

Financial Services edit

In 1996, CT Corp acquired Mega Bank and changed its name to Bank Mega. CT Corp also took over Bank Tugu and changed its name to Bank Mega Syariah.

On 28 March 2001, Bank Mega listed in the Indonesia Stock Exchange for Rp. 1,125 per share. Since then, Bank Mega has continued to be CT Corp's largest cash flow generator.

CT Corp's financial services arm continues to grow. It launched one of Indonesia's largest digital banks, Allo Bank (IDX: BBHI) on 20 May 2022.

Media edit

CT Corp's media business started with the operation of Trans TV, the group's earliest and oldest free-to-air TV channel. The turning point of Trans TV's success took place since the first quarter of 2002. According to a Nielsen Media Research survey, at that time, Trans TV was ranked fifth as the highest number of adverts from 10 television stations, namely Rp 149.2 billion.

Armed with performance success, and pegged to number two at the end of 2005, Trans TV made a memorandum of understanding to buy part of TV7 shares held Kompas Gramedia Group through its parent company Trans Corp in June 2006, and changed the name and identity of TV7 company to Trans7.

CT Corp also operates digital media companies, including Indonesia's largest local news source Detik.com. The group also operates CNN and CNBC Indonesia.

Retail edit

The group's major entry into retail was through the acquisition of 40% stake of Carrefour's Indonesia operation in 2010,[1] which then fully acquired by CT Corp in January 2013.[2] Since then, the stores have been rebranded as either "Transmart Carrefour" or "Transmart".

CT Corp also operates Metro department store, high-end retail stores (i.e Hugo Boss, Versace, Armani, Furla, Etienne Aigner, Tod's, Tommy Hilfiger, Valentino, Brioni, Jimmy Choo, Mango, Geox),[3] as well as F&B segment (i.e The Coffee Bean & Tea Leaf, Wendy's, Baskin-Robbins).[4]

Property edit

Hotels and resorts under the group, called Trans Hotels and Trans Resorts, are located in key cities in Indonesia, such as Bandung, Surabaya, and Bali.

The group also operates theme parks (Trans Snow World, Trans Studios), and small-format entertainment centers (Kid City).

Relationship edit

The group is known to have good relations with Anthoni Salim. Salim Group had been indebted when Para Group helped save Bank Central Asia, which was then hit by a financial crisis. With the Salim Group, Para Group partners in working on projects in Batam and Singapore. With Sinar Mas Group, Para Group also partners in the Mega Life life insurance company.

In Singapore, Para Group acquired a public company called Asia Medic, which is engaged in health care. Besides that, Para Group created a joint venture company called Gladifora. Whereas in Batam, (in collaboration with Arsikon) Para Group created a joint venture in the property sector, and has obtained a concession of around 300 hectares in a strategic location. The plan on this land will be built entertainment and residential centers. The housing is Coastarina.

Corporate identity changes edit

On 1 December 2011, Chairul Tanjung inaugurated the Para Group change to CT Corp. CT Corp consists of three sub holding companies: Mega Corp, Trans Corp, and CT Global Resources, which include financial services, media, retail, lifestyle, entertainment, and natural resources.[5] Changing the name of this company also coincides with changes in the company's identity and logo. According to Chairul Tanjung, because it has been 30 years, there must be a transformation.

Corporate Governance edit

Shareholders of CT Corp include Chairul Tanjung and his family members, as well as Japanese conglomerate Mitsui & Co, which invested nearly $1 billion in CT Corp in 2021.[6]

Global investors, including Singapore's sovereign wealth fund GIC Private Limited and World Bank's International Finance Corporation, hold direct and indirect stakes in CT Corp's subsidiaries.[7]

Business Units edit

References edit

  1. ^ "Sejarah Transmart Carrefour, Ritel Milik Chairul Tanjung yang Digugat PKPU". Warta Ekonomi (in Indonesian). Retrieved 2023-02-03.
  2. ^ Roy. "100% Lokal! Semua Gerai Carrefour RI Berubah Jadi Transmart". CNBC Indonesia (in Indonesian). Retrieved 2023-02-03.
  3. ^ "Geox penetrates deeper through CT Corp". The Jakarta Post. Retrieved 2023-02-03.
  4. ^ "Trans F&B | About Us". transfoodbeverage.com. Retrieved 2023-02-03.
  5. ^ Artikel: "30 Tahun Berbisnis, Chairul Tanjung 'Resmikan' CT Corp" di detik.com
  6. ^ Silviana, Cindy. "Mitsui & Co to subscribe to $950m bonds of Indonesia's CT Corpora". Deal Street Asia. Retrieved 12 May 2022.
  7. ^ "PT Trans Retail and GIC Enter into a Partnership". GIC. GIC Private Limited. Retrieved 23 May 2022.
  8. ^ "Artikel: Chairul Tanjung ambil alih TelkomVision". Archived from the original on 2014-10-30. Retrieved 2017-12-04.

External links edit

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