Chairul Tanjung's Net Worth Is Rp. 54.39 Trillion, But Carrefour Transmart Is Still Constrained By Debt

Illustration. (Photo: Transmart Carrefour)

JAKARTA - The company owned by the conglomerate Chairul Tanjung, PT Trans Retail Indonesia, is facing a lawsuit for postponing its debt payment obligation (PKPU) by PT Tritunggal Adyabuana. PT Trans Retail Indonesia manages supermarket brands such as Transmart, Carrefour, and Groserindo.

Citing data from the Central Jakarta District Court Case Tracing Information System, Friday 9 October, Trans Retail Indonesia became the defendant in case number 319 / Pdt.Sus-PKPU / 2020 / PN Niaga Jkt.Pst.

The case registration is carried out on Wednesday, September 30, 2020. Case classification is the postponement of debt payment obligations (PKPU).

It is said that Trans Retail Indonesia is looking for funding for the amortization process for a debt equivalent to US $ 740 million due in 2025. This was done following creditors' refusal to request for an 18-month postponement of debt service obligations.

"In August, lenders agreed to loosen up the net-debt-to-EBITDA (net-debt-to EBITDA) agreement on a guaranteed 5-year loan. In addition, lenders agreed to relax testing of the leverage agreement until September next year," the business reported. com.

Trans Retail Indonesia is part of the Trans Corporation business line. Citing the company's official website, PT Trans Retail Indonesia is currently supported by approximately 12,000 employees.

Chairul Tanjung's conglomerate CT Corpora officially acquired 60 percent of Trans Retail Indonesia shares in 2012 from Carrefour Nederland BV and Onesia BV with a total value of 525 million euros or 671 million US dollars. The acquisition is a continuation of CT Corpora's takeover of 40 percent of Carrefour's shares in 2010.

For your information, Chairul Tanjung is one of the richest people in Indonesia with various business lines. According to Forbes Real Time Billionaires data quoted on Friday, October 9, Chairul Tanjung's wealth reached 3.7 billion US dollars. If converted at an exchange rate of Rp. 14,700 per US dollar, Chairul Tanjung's wealth is equivalent to Rp. 54.39 trillion.

The wealth of Chairul Tanjung. (Source: Forbes Billionaire Index)

Based on Forbes data, Chairul Tanjung's wealth places him in the 9th place of the richest people in Indonesia, and the 648th richest person in the world.

Chairul Tanjung's business empire, through CT Corp, has three main business operations, namely financial services; media, lifestyle and entertainment; and Natural Resources or Resources.

In the financial services business, Chairul Tanjung has strong players such as Bank Mega, Bank Mega Syariah, and Mega Life. In the media, lifestyle and entertainment lines, it is filled by companies that we find almost every day such as Trans TV, Trans 7, Carrefour, Transmart, The Coffee Bean, or Trans Studio.

Meanwhile, in the natural resources sector, Chairul Tanjung owns the CT Agro company, which is engaged in oil palm plantations. This company has 60,000 hectares of land in Kalimantan.