When The Shareholder Of Garuda Indonesia Conglomerate Chairul Tanjung Sits Alone At The Mosque After Friday Prayers, Peter Gontha: That's CT

Chairul Tanjung conglomerate. (Photo: Instagram @petergontha)

JAKARTA - Chairul Tanjung is widely known as an entrepreneur who leads CT Corp, the conglomerate that oversees several subsidiaries such as Trans Corp, Bank Mega, and CT Global Resources. The business octopus that CT is engaged in has also brought him to become one of the richest people in the country with assets reaching tens of trillions.

Quoting Forbes Real Time Billionaires, as of today, Friday, October 29, Chairul Tanjung has assets of 4.3 billion US dollars, or equivalent to IDR 61 trillion (exchange rate of IDR 14,300 per US dollar). If you refer to Forbes data as of December 2020, CT is ranked the 9th richest person in Indonesia.

As the 'big boss' in his company, of course, CT has an extraordinarily busy life in managing his business. However, the father of Putri Tanjung reportedly does not hesitate to talk with his staff when he has free time, such as after Friday prayers.

At least that is what is seen from the upload of photos from a national businessman, Peter Gontha on his personal Instagram account @petergontha. The Java Jazz boss uploaded a photo of Chairul Tanjung sitting on the sidelines after performing Friday prayers.

"Chairul Tanjung, a humble person, a billionaire in dollars not rupiah, but after Friday prayers he still has time to have a dialogue with his staff. That's CT", wrote Peter Gontha, quoted by VOI, Friday, October 29.

Peter Gontha himself is a former Commissioner of PT Garuda Indonesia Tbk (GIAA). Meanwhile, Chairul Tanjung owns 28.27 percent of the national airline through Trans Airways.

In addition to Trans Airways, GIAA's shares are owned by the Government of the Republic of Indonesia at 60.54 percent and the public with ownership under 5 percent by 11.19 percent.

Peter once revealed something quite surprising about CT. Peter said CT suffered a loss of IDR 11 trillion at the state-owned airline.

Peter, through an upload on his Instagram account @petergontha on Friday, June 4, said that he represented Chairul Tanjung at Garuda Indonesia in the post. Peter wanted to answer the post of the Special Staff of the Minister of SOEs, Arya Sinulingga, regarding the decisions of the Ministry of SOEs which were deemed not to involve the Board of Commissioners of Garuda Indonesia.

"Indeed, I represent people who hold minority shares, meaning that it is only 28 percent, namely Chairul Tanjung (CT). But it is the minority who have lost IDR 11 trillion", said Peter at the time.

He detailed the calculation of the loss of IDR 11 trillion. First, when CT was asked for help because the underwriters failed miserably and deposited US$250 million.

At that time, said Peter, the exchange rate was still around IDR 8,000 per US dollar, while currently, it is around IDR 14,500. Second, GIAA's share price at that time was IDR 625, currently at IDR 256.

"Please count, but in my opinion, within 9 years I have calculated that CT losses have reached IDR 11.2 trillion, including interest, not counting inflation, a lot, isn't it Mas Arya [Arya Sinulingga, Special Staff of the Minister of SOEs]?", he wrote.

The loss mentioned by Peter is still a potential loss as long as Chairul Tanjung has not sold his shares (cut loss).