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Bhakti Investama Group.

Bhakti Investama Tbk is the holding company of the Bhakti Investama Group, which have widely varied business units mainly in the service sector. This company group was established by Bambang Hary Iswanto Tanoesoedibjo (42). The group is also known as Hary Tanoe. Bahkti Investama Tbk. It began to gain popularity after it acquires the shares of Bambang Trihatmojo in PT. Bimantara Citra Tbk in 2002.

Currently the BI Group is the leader in mass media and telecommunication business through sub-holding PT Global Mediacom Tbk (formerly PT Bimantara Citra Tbk) and financial unit, PT Bhakti Capital Indonesia Tbk.

With a 52.85% stake in PT. Global Mediacom Tbk, the BI Group controls mass media including television broadcasting business operating three private TV broadcasting stations RCTI, TPI and Global TV. The BI Group also control a number of radio stations, newspapers and tabloids.

In a bid to strengthen its business the BI Group has also expanded its wing to telecommunications service industry. Its main unit in the telecommunications service industry is PT. Mobile-8 Telecom Tbk, which is a cellular operator using CDMA (Code Division Multiple Access) technology. Currently PT. Mobile-8 with its product of Fren, is the fourth largest cellular operator in the country with 1.8 million subscribers. In 2006, Mobile-8 launched Initial Public Offering (IPO) floating its shares on the Jakarta Stock Exchange.

The BI Group expanded its business to aviation industry by acquiring 50% of PT. Adam Skyconection Airlines, which operates Adam Air in April, 2007. PT Adam sold the stake as it needed fund to be ready to face liberalization of aviation in Asean in 2010.

Earlier the group already had a subsidiary operating in aviation business. The subsidiary PT. Indonesia Air Transport (IAT) offers chartered aircraft.

Dominating mass media business

PT. Global Mediacom Tbk was established in 1981 with he name of PT. Bimantara Citra Tbk) by Bambang Trihatmojo, a son of former President Soeharto in cooperation with Rosano Barack and M. Tachril Sapi'ie. The down fall of the Suharto regime in 1998 brought down the business empires of his sons and daughters.

In 2002, Hary Tanoe joined as a new shareholder through PT. Bhakti Investama by acquiring a 24.49% stake from Bambang Trihatmojo. Reducing the stake of Asriland to 12.37%. In May 2007, Bhakti Investama increased its stake to 52.85%, and at the same time the name of the company was changed Global Mediacom Tbk and become a sub holding of Bhakti Investama in the mass media including broadcasting sector.

The income of Global Mediacom Tbk in 2006 rose 34% to Rp 3.23 trillion from Rp 2.41 trillion in 2005. Its net profit surged 228% to Rp 446 billion from Rp 136 billion in the previous year.

In 1997 Global Mediacom established PT. Media Nusantara Citra (MNC) to consolidate business in television broadcasting (RCTI, TPI and Global TV), radio (Trijaya FM, Women Radio, ARH FM, Radio Dangdut), newspaper (Seputar Indonesia under PT. Media Nusantara Informasi) and tabloid (Genie under PT. MNI Global). Currently MNC wholly owns RCTI, Global TV, tabloid Realita and Situs Okezone.com. In 2002 MNC acquired 75% of PT. Cipta TPI with convertible bond

In 2006, the income of MNC totaled Rp 2 trillion or up 48% from the previous year including 92.48% from television advertisements--RCTI contributing Rp 1.4 trillion, TPI Rp 523 billion and Global TV Rp 253 billion.

In June 2007, MNC launched Initial Public Offering (IPO) on the Jakarta Stock Exchange (JSX) floating 30% of its shares (4.125 billion units) valued at Rp 3.7 trillion.

PT. Rajawali Citra Televisi Indonesia (RCTI) was established in 1987 by the Bimantara Group of Bambang Trihatmojo, a son of the fallen dictator of Presiden Soeharto. RCTI was the first private television broadcasting station in the country coming on line in 1990.

PT. Cipta Televisi Pendidikan Indonesia (TPI) was established by Siti Hardijanti Rukmana, a daughter of Suharto. In 2002 Bimantara Citra Tbk took over a US$ 15 million debt of TPI. Bimantara also controlled shares in TPI through PT Berkat Karya Bersama, which took over the debt in the form of convertible bonds from PT Indosat Tbk valued at Rp 500 billion. With the takeover, Bimantara owned 75% of TPI with 25% retained by Siti Hardijanti Rukmana.

PT. Global Informasi Bermutu was established in 1999, and in 2004 it was taken over by Bimantara Citra Tbk. In the beginning Global TV cooperated with MTV station to broadcast round the clock MTV program. However, in 2005 Global TV produced its won programs and MTV programs were given only half of the broadcasting hours.

PT. MNC Skyvision, which is 51% owned by MNC, operates pay TV station with the trade mark of Indovision. Currently Indovision controls 71% of the market of pay TV with 200,000 subscribers.

Cellular telecommunications business

PT. Mobile-8 is an operator of CDMA (Code Division Multiple Access) based cellular telephone with he technology of CDMA2000 1X EV-DO. Recently three cellular subsidiaries--Metrosel, Komselindo and Telesera--were merged into Mobile-8. The performance of Mobile-8 grew fast in the past three years after it came on line. Now it has 1.83 million subscribers including 47,600 post paid subscribers and 1.7 million pre paid subscribers. Mobile-8 Telecom launched its product Fren in 2002. In international roaming Mobile-8 cooperates with 9 CDMA operators in Asia including KDDI of Japan, SKT of South Korea, China Unicom of China, etc.

In 2006, Mobile-8 went public floating 3.9 billion shares at a price of Rp 225 per unit. Around 57% of the fund from the share sales was used to finance expansion of its networks by building Base Transceiver Station (BTS) outside Java. Mobile-8 named Samsung Electronics Co. Ltd as the provider of networks. Currently the company has 440 units of BTS, 28 units of Base Station Controller and 7 units of Mobile Switching Centre.

In 2006, its capital expenditure for networks infrastructure totaled Rp 107.1 billion much smaller than Rp 477.8 billion in 2005. Its income in 2006 was valued at Rp 588 billion with net profit at Rp 35 billion.

Financial and investment business

PT. Bhakti Investama Tbk, which was established in 1989 operates as investment holding. The company constitute the embryo of the BI group now a widely diversified corporation.

Through PT. Global Transport Service, the BI Group expands business in commercial aviation by acquiring 50% of PT Adam Sky Connection, which operates Adam Air. Adam Air plans to expand operations to serve regional routes such as routes to Hong Kong. Currently it serves only flight to Malaysia and Singapore outside Indonesia. The BI Group has also expanded operation to the electronic trade through PT. Agis Elektronik and PT. Agis Multimedia.
Bhakti Investama Group

Holding Company PT. Bhakti Investama Tbk

Address Menara Kebon Sirih, 5th Floor
 Jl. Kebon Sirih No 17-19, Jakarta 10340
Phones (021) 5273870, 5273850
Fax (021) 39836868
Homepage www.bhakti.com
Management President Commisioner: Mr. Hary Tanoesoedibjo
 President Director: Mr. Harry Djaja
Number of companies 21

Financial Highlights PT. Bhakti Investama Tbk

(in Rp million)

Description 2005 2006
 (31st Dec) (30th Sep)
ASSETS
a. Current Assets 5.095.527 410.819
b. Non Current Assets 5.518.488 1.600.073
Total Assets 10.614.015 2.010.892

LIABILITIES
a. Current Liabilities 3.165.812 390.212
b. Non Current Liability 3.132.384 237.228
c. Equity 1.873.030 1.360.657
Total Liabilities + Equity 10.614.015 2.010.657

REVENUES
a. Total Revenue 656.670 169.990
b. Net Profit 229.380 51.345


Members of the Bhakti Investama Group

1. PT. Bhakti Investama Tbk (Investment Holding)

2. PT. Bhakti Capital Indonesia Tbk (Investment)

3. PT. Bhakti Securities (Securities)

4. PT. Bhakti Finance (Financing)

5. PT. Global Mediacom Tbk (Investment)

6. PT. Media Nusantara Citra (Invesment)

7. PT. Rajawali Citra Televisi Indonesia (Television broadcasting)

8. PT. Cipta TPI (Television broadcasting)

9. PT. Global Bermutu Informasi (Television broadcasting)

10. PT. Trijaya (Radio broadcasting)

11. Women Radio (Radio broadcasting)

12. Radio Dangdut (Radio broadcasting)

13. PT. MNC Networks (Invesment)

14. PT. Global Transport Service (Invesment)

15. PT. Indonesia Air Transport (Air Charter Service)

16. PT. Agis Elektronik (Elektronic shops)

17. PT. Agis Multimedia

18. PT. Mobile-8 Telecom (Telecommunication Cellular)

19. PT. MNC Skyvision (Indovision TV cable)

20. PT. Media Nusantara Informasi (Daily newspaper publishing)

21. PT. MNC Global (Tabloid publishing)
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Title Annotation:COMPANY PROFILE
Publication:Indonesian Commercial Newsletter
Article Type:Company overview
Geographic Code:9INDO
Date:Jun 1, 2007
Words:1393
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