DCII Shares Soaring 10,000 Percent Make Conglomerate Toto Sugiri Have Assets Of IDR 35.75 Trillion And Become The Number 19 Richest Person In Indonesia

Conglomerate Toto Sugiri. (Photo: Doc. Forbes)

JAKARTA - Since being listed on the stock exchange in January 2021, now the data center issuer (data center) PT DCI Indonesia Tbk (DCII) has skyrocketed tens of thousands of percent. This has also made the founder, Otto Toto Sugiri, included in the Forbes list of the 50 richest people in Indonesia in 2021.

According to a Forbes report as of December 2021, Toto Sugiri, who serves as President Director of DCII, is ranked the 19th richest person in the country with a total wealth of US$2.5 billion or equivalent to Rp. 35.75 trillion.

DCII shares are listed on the Indonesia Stock Exchange (IDX) on January 6, 2021 at a price of IDR 420 per share. Now DCII shares have skyrocketed 10,286.90 percent to the position of Rp.43,625 as of the close of trading on Wednesday, February 2nd.

DCII shares have even shot up to 14,000 percent and touched a price of Rp. 59,000 per share before being suspended (temporary stock suspension) by the stock exchange on June 16, 2021.

The increase in DCII's shares has indeed occurred since the beginning of its debut as investors bought it up in early 2021. Then, DCII's shares increased even more after conglomerate Anthony Salim entered the stock in early June 2021.

The significant price spike in the middle of last year caused the stock exchange to suspend DCII's shares for June 17 to August 10, or almost 2 months. For information, as of December 31, 2021, Toto Sugiri holds 712.78 million DCII shares, equivalent to 29.90 percent.

Data center business

In 2011 Toto Sugiri along with 6 other founders founded DCI Indonesia. The company has grown rapidly and become the largest data center in Indonesia, providing more than half of the local capacity in the country.

Of the four cloud company vendors operating in Indonesia-Alibaba, Amazon Web Services, Google Cloud, and Microsoft, DCI said three of them are the company's clients, including some of the largest e-commerce companies in Southeast Asia.

Currently, DCI also has clients of more than 40 telecommunications companies and more than 120 financial service providers throughout Indonesia, Southeast Asia and the United States (US).