Profile Handojo S. Muljadi, One Of The Entrepreneurs Who Bought Patriot Bond Danantara

YOGYAKARTA - Profile Handojo SelAMEt Muljadi is known as the majority shareholder and previously he also occupies the position of President Director/CEO of PT Tempo Scan Pacific Tbk ("Tempo Scan") from 1995 to 2020. However, in mid-2020 Handojo has given the CEO position to a senior executive company with a professional background.

During his 25 years as CEO of Tempo Scan, Handojo remained loyal to core businesses consisting of Consumer Products, Pharmaceuticals, Cosmetics and Distribution & Logistics. Handojo is different from other entrepreneurs in the 90s who have penetrated various attempts, he prefers to consistently process the Tempo Scan core business.

Handojo restructured the company since returning from a study at New York University in 1989, and in the early 90s he made Tempo Scan a sub-holding of Tempo Scan Group which houses the core businesses. In 1994, Tempo Scan finally became a public company by placing Tempo Scan shares on the Indonesia Stock Exchange (formerly called the Jakarta Stock Exchange).

After becoming a public company, Tempo Scan continues to expand its business including acquiring other pharmaceutical companies, and like other companies at the time, to finance the acquisition, Tempo Scan also owes in foreign currency.

In 1997-1998, while Indonesia was in the Asian economic crisis and political turmoil, Tempo Scan maintained its reputation by paying off foreign syndicated debt early, or debt in other currencies around US$125 million at the end of 1999. Like many other Indonesian entrepreneurs, these foreign debts were not all carried out by hedging or hedging, so that when the rupiah exchange rate decreased drastically due to the crisis, Tempo Scan also got serious problems.

However, at the end of 1998, together with the management of Tempo Scan, Handojo succeeded in conducting a Rights Issue, the results of which were used to pay off the foreign debt without asking for a loan rescheduling and hair cut from foreign creditors.

This action was included in the coverage of the December 3, 1999 edition of the "Wall Street Journal" business newspaper which wrote, among others, "Tempo might be among the first Indonesian companies to prepare a foreign loan since the country's economic and political problems starting in 1997".

Since then, Tempo Scan has managed its finances prudently and more carefully so as to store a healthy balance sheet with a net cash position (cas & cash equivalent position greater than total debt) since 1999.

Together with Handojo, Tempo Scan continues to invest in company cashflows by building 9 factories, 46 branches, 7 distribution centers, 127 sales points throughout the archipelago, as well as the construction of e-commerce fulfillment centers facilities in line with the rapid development of e-commerce business.

All Tempo Scan production and distribution facilities utilize the latest IT system and this is possible because Handojo made the decision to make Tempo Scan the earner of ERP SAP from 2002-2003, and currently almost all Tempo Scan business units use it.

Tempo Scan is very focused on developing its Brand Equity so that it can become a Proxy "Indonesian People's Product", because the price can be reached by the wider community and becomes a daily necessity.

Likewise, R&D is also carried out by Indonesian human resources, and is produced domestically/domestic manufacturing by Indonesian Workers. As a result, the majority of the Brand Equity Tempo Scan has Indonesian product DNA and has become the host in their own country, including: bodrex, NEO rheumacyl, hemaviton, bodrexin,men, Marina, IPI vitamins, My Baby, SOS, Total Care, and others.