Who Is The Conglomerate TP Rachmat, The Owner Of The Triputra Group, Who Has Assets Of Rp. 30 Trillion?

Senior entrepreneur Theodore Permadi Rachmat. (Photo: Doc. Triputra Group)

JAKARTA - At the age of 77, senior entrepreneur Theodore Permadi Rachmat seems to still want to continue to develop his business.

Recently, the tycoon who is familiarly called TP Rachmat is said to be bringing PT Dharma Polimetal Tbk. issue new shares of about 15 percent of the total paid-up capital at the time of the Initial Public Offering (IPO), or a total of 705,882,300 shares.

Through an offering price of between Rp. 500 to Rp. 620 per share, the business entity with the stock code DRMA is believed to be able to reap fresh funds of a maximum of Rp. 437.6 billion.

"70 percent of the IPO funds will be used for capital expenditures in the context of the company's business expansion. Then, 25 percent is used to increase capital and ownership of subsidiaries and the rest will be used for working capital needs and other needs," said DRMA's official statement as previously reported by VOI.

In fact, TP Rachmat is not a random person. His uncle, William Soeryadjaya, was a key figure in the founding of Astra International in 1968. He is known to have worked at Astra until he succeeded in occupying the position as CEO.

After tasting the top position, TP Rachmat chose to leave to start building his own company. In 1998, the Triputra Group was established with four different sectors, namely agribusiness, manufacturing, mining and mining. From here he was able to make a fortune with an estimated wealth of IDR 30 trillion according to the November 2021 edition of Forbes.

So, what are the companies owned by TP Rachmat that can hold the status as one of the richest people in Indonesia? The following is a summary of the editorial for readers.

PT Triputra Agro Persada Tbk (TAPG)

This company is the spearhead of TP Rachmat in the field of agribusiness with the main business of processing palm oil. It is stated that TAPG is also included in the rubber sector.

It is noted that Triputra Agro Persada has a productive area of 1,400 hectares spread across Jambi and Kalimantan. The Triputra Group is the shareholder of TAPG with a composition of 22.89 percent. Followed by PT Daya Adicipta Mustika with 14.01 percent, and PT Persada Capital Investama with 23.24 percent.

PT Dharma Satya Nusantara Tbk (DSNG)

DSNG is an agribusiness company with the main business of processing palm oil with a production area of 112,450 hectares. Initially, DSNG was focused on wood processing activities for foreign markets. However, the charm of good commodity prices made this business entity then switch to processing palm oil as its main line.

PT Kirana Megatara Tbk (KMTR)

The company is engaged in the rubber processing industry with a production capacity of 500,000 tons per year. With 15 facilities in Kalimantan and Sumatra, KMTR is one of the big players in this sector. TP Rachmat through the Triputra Group becomes the owner of PT Kirana Megatara with a composition of 30 percent

PT Adi Sarana Armada Tbk (ASSA)

This company is one of the largest transportation service providers in Indonesia with the main market share being the corporate sector. ASSA claims to have collaborated with 1,500 companies in Indonesia with a fleet of 25,000 units and 3,900 drivers.

The Triputra Group owns ASSA through PT Daya Adicipta Mustika with 18.32 percent shares. In addition, TP Rachmat also personally owns ASSA with a direct share of 4.98 percent