A young man with the status of a student at the University of Indonesia offers his services to colleagues in class to duplicate learning materials at a photocopy kiosk around the campus.
As a result of this service, he received a wage of IDR 150 for one double print. This means that he managed to collect IDR 15,000 from the 100 books that were mandated. This figure is relatively large for the size of a student who took education in the early 1980s.
Today, this young man has accumulated a fortune estimated at USD 3.9 billion or the equivalent of IDR 54 trillion.
Through this capitalization of assets, the December 2020 edition of Forbes magazine named him the ninth richest person in Indonesia!
He is Chairul Tanjung.
The tycoon, who had tasted the bureaucratic seat as Coordinating Minister for the Economy, is now being actively linked with PT Bank Harda Internasional Tbk. According to the news, CT, Chairul Tanjung’s nickname, has received the blessing of the Financial Services Authority (OJK) for his intention to acquire Bank Harda.
Through PT Mega Corpora, CT’s expansion strategy to annex the bank with the BBHI ticker code is expected to run smoothly. Not to mention, the shareholders seem to be reluctant to provide room for the entry of big investors into the company. It is scheduled that shareholders will hold an extraordinary general meeting of shareholders (EGMS) on Friday, January 29 in Jakarta.
Meanwhile, the main agenda of the meeting was to discuss plans for PT Mega Corpora, which is said to be buying 3.08 billion shares or about 73.71 percent owned by PT Hakimputra Perkasa.
In terms of performance, until the third quarter of 2020, Bank Harda reported being able to collect a net profit of IDR 48.3 billion. This value is higher than the same period in the previous year with a net loss of IDR 6.7 billion.
One of the pillars of the formation of cuan was the operating income sector which rose to IDR 14.4 billion from the position in the third quarter of 2019 with minus IDR 80.3 billion.
The positive performance in the third trimester of 2020 seems to have been accompanied by the company’s internal strategy to hold back the pace of expansion to solve a number of problems.
This indication can be seen from the banking intermediary function, which fell 20.7 percent year on year. In line with this, the collection of third party funds (DPK) also collapsed 14.4 percent to IDR 1.6 trillion.
However, there was an improvement in the quality of non-performing loans (NPL) from the previous 4.9 percent gross in September 2019 to 3.3 percent in September 2020.
Meanwhile, Bank Harda’s net NPL was said to be 2.2 percent in the third quarter of 2020 or an improvement from the previous period of 3.3 percent.
Chairul Tanjung himself actually already has a banking financial services institution on behalf of PT Bank Mega Tbk. (MEGA). However, Bank Mega and Bank Harda will not be included in the same class because they have different levels.
For information, MEGA is in the category of business group commercial bank (BUKU III) with core capital coverage of IDR 5 trillion to IDR 30 trillion. Meanwhile, BBHI is a bank with a BUKU I level because it has a core capital of less than IDR 1 trillion.