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HUMPUSS GROUP: KEEPS ON EXPANDING ITS BUSINESS.



The year 1997 appears to be an innovative year for Humpuss Group (HG) which is drawing the attention of many to its business performance. PT Timor Putra Nasional (TPN TPN, in biochemistry, abbreviation for triphosphopyridine nucleotide, a coenzyme now usually called nicotinamide adenine dinucleotide phosphate, or NADP. ), whose existence is controversial, won the commitment of US$ 690 million syndicated loan Syndicated Loan

A very large loan in which a group of banks work together to provide funds for one borrower. There is usually one lead bank that takes a small percentage of the loan and syndicates the rest to other banks.

Notes:
Also known as a "syndicated bank facility.
 for funding the development of an automobile plant in Cikampek, West Java, designed to produce 120,000 units a year.

Many still remember that not long ago Hasan M. Soedjono, president of PT Sempati Air Sempati Air was an airline based in Indonesia. Partially owned by friends and family of President Suharto of Indonesia, the airline folded due to bankruptcy after his May 1998 resignation. , was replaced for the company's poor financial condition, thus delaying plan to float its shares, and at the end of August it was reported that Santun Nainggolan who had not been a year that the helm of the airline company was to be replaced. The replacement, according to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 Tommy Soeharto, was at his own request who felt he failed to improve the company's performance.

Lately, Humpuss made many surprising moves. In petrochemical sector Humpuss developed the largest methanol plant in Indonesia with 600,000 tons a year at a cost of Rp 1 trillion, and a condensate processing plant which will produce 70,000 barrels of naptha a day as feedstock for his aromatic plant.

Viewed from its development, the group has made service, transportation (shipping, aviation, land transportation), petrochemicals, and recently, automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide.  as its core business. Other sectors in which the group has put its stakes are infrastructure (toll road, port, geothermal power Geothermal power

Thermal or electrical power produced from the thermal energy contained in the Earth (geothermal energy). Use of geothermal energy is based thermodynamically on the temperature difference between a mass of subsurface rock and water and a mass
 generation), timber, advertising, plantation, finance, trade (retail), pharmaceutical, construction, engineering, mining, manufacturing, and lately property.

Profile and Activities

Humpuss Group started with the establishment of PT HAVEN (Humpuss Aviation Electronics Nusantara) in 1984, which engaged in transportation/distribution services and natural resources. The company which had an initial capital of Rp 200 million was the embryo of PT Humpuss Founders of the group were Hutomo Mandala mandala (mŭn`dələ), [Skt.,=circular, round] a concentric diagram having spiritual and ritual significance in Hindu and Buddhist Tantrism.  Putra (Tommy Soeharto) who owned 60% of the shares and Sigit Harjojudanto who owned 40% of the shares. Both are the sons of President Soeharto.

The group prospered Its capital, assets, and sales grew from year to year. In 1990, its assets and sales were respectively to Rp 740 million and Rp 700 million. Five years later these had soared to Rp 2.6 trillion and Rp 1.8 trillion. By having 66 companies under its control, it is estimated that in its 13th year, the Humpuss Group has assets totaling Rp 3 trillion and sales totaling Rp 2.3 trillion, and has managed to positioned itself in the 20 largest business groups in Indonesia.

HG's growth which caused it to become one of the notable conglomerates in Indonesia was linked to the business sectors into which it ventured. In the beginning, it entered transportation and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees.  sectors which were regarded as "smart" ventures. Given Indonesia's geographical condition, transportation and distribution were profitable businesses. Meanwhile, oil and gas are strategic natural resources which made them reliable export commodities. In the beginning of 1990's, HG became intensively involved in natural resources like oil, gas, and petrochemicals.

In 1995, HG has made firm footing in transportation and natural resources sectors and has set up subsidiaries like PT Humpuss Sea Transport which was licensed by the government as sole distributor to transport and distribute methanol, terepthalic acid, benzene and asphalt, and PT Mahasarana Buana (Mabua) to trade, store, and distribute explosives.

Besides being sole distributor for methanol, HG got: project license through PT Kaltim Methanol Industri (KMI KMI Kerrigan Media International, Inc.
KMI Koninklijk Meteorologisch Instituut
KMI Key Management Infrastructure
KMI Knowledge Management Institute (George Washington University)
KMI Keep Me Informed
) to build methanol plant in early 1985. This project which is located in Bontang, East Kalimantan East Kalimantan (Indonesian: Kalimantan Timur abbrv. Kaltim) is Indonesian province on the east of Borneo island. The resource-rich province has two major cities, Samarinda (the capital and a center for timber product) and Balikpapan (a petroleum center with oil , is a joint venture project with Nissho Iwai of Japan, in which 70% of the shares is owned by KMI and 30% by Nissho Iwai. With Rp 1 trillion investment, the project which is constructed on an 8-hectare land with 600,000 metric ton capacity a year is the largest methanol producer in Indonesia. KMI commercial operation is scheduled to take place in the forthcoming October 1997.

Regarding natural resources business, in March 1996, Humpuss Group has started natural gas exploration in Natuna through PT Humpuss Trading which teamed up with AKER, a giant offshore engineering and construction firm from Norway. Last year HG has entered oil refinery business by constructing petroleum fuel refinery in Blora, Central Java Central Java (Indonesian: Provinsi Jawa Tengah) is a province of Indonesia. The administrative capital is Semarang. It is one of the six provinces of the island of Java. Central Java is both a political entity and a cultural concept. . Through PT Humpuss Pengolahan Minyak, HG will produce gasoline ton 95 to a capacity of 119,212 tons, kerosene kerosene or kerosine, colorless, thin mineral oil whose density is between 0.75 and 0.85 grams per cubic centimeter. A mixture of hydrocarbons, it is commonly obtained in the fractional distillation of petroleum as the portion boiling off  35,680 tons, diesel fuel 127,985 tons, residue 115,854 tons and gas 26,288 tons a year. Construction of the plant on 120,000 sq.m. land is estimated to cost Rp 164 billion investment.

Furthermore, in petrochemicals, HG through PT Humpuss Aromatik has processed 70,000 barrels of condensate a day which produced heavy naftha which will become feedstock of aromatic plant to produce 370,000 tons of paraxylene and 160,000 tons of benzene a year. With Rp 1.8 trillion assets, the petrochemical sector is currently the biggest income contributor - about 60% - to HG.

Property a New Business

In early 1997, Tommy started to set up his new business in property sector. After his success in building a world class hotel and resort in Bali through PT Bali Pecatu Indah, he built 8-storey and 17-storey office buildings which housed the group itself. Through another subsidiary, PT Sekar Artha Sentosa, Tommy developing a housing estate in Bojong Gede, Bogor, with an investment of Rp 159 billion since last February.

In property sector, Tommy building a resort in a tourist area in Tanjung Panda, Belitung, South Sumatera. On a 270-hectare land he is developing a resort, a star-rated hotel, recreation facility, and a golf course. The Sheraton hotel group and businessmen Robby Sumampouw (Batara Indra Group) and Peter F. Sondakh (Rajawali Group) teamed up with Tommy in the Rp 350 billion project.

In Medan, North Sumatera, HG through PT Orionis Mandala Perdana has developed an integrated resort An Integrated Resort (Abbreviation: IR; Simplified Chinese: 综合度假胜地) is a mixed-use development containing a casino.  on a 250-hectare land. The project which includes housing estate (2,000 units), 18-hole golf course, 5-star hotel, shopping center, hospital and school, teamed up with a world class hotel chain (Meridien Hotels) for the management of its resort and hotel.

Property business seems to be: more attractive to the Humpuss Group. This is evident from its plan to develop a Marina megaproject in Sidoarjo, East Java. Based on site license and basic approval, the megaproject worth Rp 6.2 trillion will occupy 2,000 hectare land. In another development, HG will develop Sentra Primer Baru Timur (SPBT.) integrated project on Jalan Raya Penggilingan, Pulo Gebang, East Jakarta. In this project, HG will replace three investors PT Bumi Pandan Pandan can refer to:
  • Pandanus amaryllifolius, a plant which yields the pandan leaf used widely in Southeast Asian cuisine
  • Pandan cake, a green dessert made with pandan
  • Pandan, Antique, a municipality in the Philippines
 Wangi, PT Agung Sedayu and PT Bumiayer Asri. With the presence of HG it is expected that the SPBT project will be realized and be completed by 2005. It will be developed on a 96-hectare land, on which will be centers of government activities, trade and services, recreation, and education.

Further, Tommy, who in 1995 was 13th biggest individual tax payer above Sudwikatmono, planned to build the most luxurious entertainment center in Southeast Asia on land presently occupied by Jakarta Metropolitan Police Headquarters. On the 6.S-hectare land in the center of Jakarta, ia will build hotel, apartment, sport venues, and various entertainment center.

Apparently Tommy also wants to go into food industry. Soon he and his partner Ricardo Gelael will set up an instant noodle industry through PT Goro Batara Sakti after they succeeded in setting up GORO wholesale business.

Tommy's dream of taking Humpuss into electronic business since he set up the company will soon be realized. Humpuss, together with an American electronic manufacturer, Seagate, has begun building a computer plant in Medan, North Sumatera, since March 1997. This export-oriented project costs US$ 100 million investment.

In transportation and infrastructure, HG has grown significantly through PT Humpuss Terminal Peti Kemas (HTPK) which had explored cooperation with the state railway company Perumka to develop special container rail service connecting UTPK III (Koja Container Terminal) at Tanjung Priok and the dryports of Merak and Gedebage, Bandung. This cooperation is a continuation of Operating Cooperation between HTPK and PT Pelabuhan Indonesia II which was disrupted due to land clearance problem.

In infrastructure, Tommy and Ms foreign partner Asia Power Ltd (APL (A Programming Language) A high-level mathematical programming language noted for its brevity and matrix generation capabilities. Developed by Kenneth Iverson in the mid-1960s, it runs on micros to mainframes and is often used to develop mathematical models. ) of Hong Kong through Mandala Nusantara Limited, which is 85% owned by APL and 15% by Tommy through PT Bumi Mandala Perkasa, has signed EPC (1) (Entertainment PC) See HTPC.

(2) (Electronic Product Code) A standard code for RFID tags administered by EPCglobal Inc. (www.epcglobalinc.org).
 (Engineering, Procurement, Construction) contract with Sumitomo Corporation and Fuji Electric Co., both of Japan, to develop Geothermal Power Plant (PLTP PLTP Phospholipid Transfer Protein ). Under this contract which will last until 2001 the geothermal power plant will be built in stages until it has 400 MW capacity. This project which is located in Wayang Wayang is an Indonesian word for theater. When the term is used to refer to kinds of puppet theater, sometimes the puppet itself is referred to as wayang. "Bayang", the Javanese word for shadow or imagination, also connotes "spirit.  Windu, Pengalengan, West Java, will have an overall EPC contract of US$ 650 million.

Another new HG project is construction of three apartment buildings in Gambir Gambir may refer to:
  • Gambir, Jakarta
  • Gambir Station in Jakarta, Indonesia
  • Uncaria, known as Gambir, Gambier, Cat's Claw or Uña de Gato
, Central Java. These will be located on Jalan Batu, right behind Humpuss new buildings on Jalan Medan Merdeka Timur which are used as Humpuss' head office and the offices of its subsidiary companies. Construction of the apartment is scheduled to start at the end of 1997 after all licenses are received.

Table - 1

Humpuss Group Profile

Details
Parent Company        : PT. HUMPUSS
Address               : Gedung Grup Humpuss 16th floor
                        J1. Medan Merdeka Timur No. 17
City                  : Jakarta 10110
Phone(s)              : (021) 3509502 (Hunting)
Fax                   : (021) 3509504
Telex                 : 44166 HUMPUS IA
Cable                 : HUMPUSS JAKARTA
Number of Companies   : 66
Total asset           : Rp 3,0 trillion (1996)
Sales turn over       : Rp 2,3 trillion (1996)
Core business         : - Services
                        - Transportation (Shipping, Air
                          transport, Land transport)
                        - Petrochemical (Aromatic, Methanol)
                        - Automotive (Car & Motorcycle
                          manufacturing)
Chairman              : - Hutomo Mandala Putera (Tommy)

Other Key Persons     : - Sigit Hardjojudanto
                        - Ongky P. Soemarno



Source: Data Consult

Table - 2

Several Subsidiary Companies of Humans Group
Name of company                       Line of business

Notable members

Bali Pecatu Graha, PT                 : Property
Bitung Manado Oil (BIMOLI), PT        : Coconut oil refining &
                                        Trading
Gatari Air Service, PT                : Air cargo services,
                                        Service carter
Goro Yudistira Utama, PT              : Multigrosir
Humpuss, PT                           : Investment Holding
Humpuss Aromatik, PT                  : Aromatic centre &
                                        manufacturing
Humpuss Methanol Indonesia, PT        : Methanol Distributor
Humpuss Sea Transports, PT            : Sea transports
Humpuss Terminal Petikemas, PT        : Container terminal &
                                        Shipping
Kaltim Methanol Industry, PT          : Menthanol industry
Kujang United Catalyst, PT            : Catalyst industry
Mandala Cakra Elindo, PT              : Trading and assembling of
                                        Telecommunication
                                        Equipment/System
Marga Mandala Sakti, PT               : Toll road & General
                                        contracting
Mega Polymer Industry, PT             : Polypropylene industry
Sempati Air, PT                       : Airline services
Senawangi Wisamarta Utama, PT         : Forwarder, Marine services
                                        & off-shore supply base
Timor Putra Nasional, PT              : Automotive manufacturing

Overseas compani(es) which
affiliated with group:

Humolco Transport (LIBERIA)           : LNG transportation
Cometco Shipping (LIBERIA)            : Shipping
Cometesco Shipping Panama (PANAMA)    : Shipping
Humpuss Inc. (LIBERIA)                : Trading
Perta Oil Marketing Ltd. (HONGKONG)   : Trading



Source: Data Consult3
COPYRIGHT 1997 P.T. Data Consult, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997 Gale, Cengage Learning. All rights reserved.

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Comment:HUMPUSS GROUP: KEEPS ON EXPANDING ITS BUSINESS.
Publication:Indonesian Commercial Newsletter
Geographic Code:9INDO
Date:Sep 8, 1997
Words:1763
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