Whether it’s PT Astra International, PT Bank Rakyat Indonesia, or PT Semen Indonesia, all entrepreneurs look at these companies in Indonesia that are phenomenally successful and wonder what the secret sauce to make this happened is.
Of course, companies do not do everything right, and there are many factors why they were the best companies in Indonesia in 2018. One thing for sure is that they do excel at things that matter the most to the consumers and clients.
In this article, let’s take a quick dive into the best Indonesian companies in 2018 based on their sales and high credibility received from both the government and the private sectors. We will also look at the reasons why they are so successful.
Here are the 10 companies that make a list as the most successful companies in Indonesia in 2018 based on their sales:
|No.||Name of Company||Sales Amount (IDR)|
|1||PT Astra International||206.1 trillion|
|2||PT Telekomunikasi Indonesia (Persero)||128.26 trillion|
|3||PT Indofood CBP Sukses Makmur||70.19 trillion|
|4||PT Bank Rakyat Indonesia (Persero)||69.4 trillion|
|5||PT Sumber Alfaria Trijaya||61.46 trillion|
|6||PT Waskita Karya (Persero)||45.21 trillion|
|7||PT Bank Mandiri (Persero)||44.8 trillion|
|8||PT Bank Central Asia||41.8 trillion|
|9||PT Unilever Indonesia||41.2 trillion|
|10||PT Semen Indonesia (Persero)||27.81 trillion|
*Persero stands for a state-owned company in Indonesia
This multinational company produces automotive and is based in Jakarta. Since April 1990, it has been listed on the Jakarta Stock Exchange, and the majority of the ownership (50.1%) belongs to PT. Trans Corp.
The main activities carried out by Astra include assembly and distribution of cars, motorbikes with parts, heavy equipment sales and rental, mining and related services, plantation development, financial services, infrastructure and information technology.
The Indonesian telecommunications company is engaged in information and communication business and also provides complete telecommunications and network services in Indonesia.
PT Telekomunikasi claims to be the largest telecommunications company in Indonesia, with 15 million fixed telephone subscribers and 104 million cellular telephone customers.
Over the past two decades, Indofood has transformed into a company with total food solutions covering all process stages of food production. They also have food ingredients exported to Australia, Asia and Europe.
Bank Rakyat Indonesia is a large government bank in Indonesia established in 1895. The bank focuses on fund products provided to small communities, such as various credit solutions catering to small entrepreneurs.
Its largest shareholder is the Indonesian government with 56.75% of shares, and the public owns 43.25% of shares.
By moving into the field of self-service business, the company recorded sales of up to IDR 61.46 trillion. Through self-service outlets with many branches throughout Indonesia making this company the largest company in Indonesia.
More than 200 food products and other daily goods are available at competitive prices, meeting every day’s consumer needs. The product brands include Alfamart and Alfamidi.
This company engages in construction and is the big name behind the creation of many airports such as the Sastranegara International Airport in Bandung, Radin Intan II International Airport, Branti Raya in South Lampung, Lampung, Pranoto APT International Airport, Sungai Siring in Samarinda.
This large corporation is also one of the favourite banks for consumers in Indonesia. The total value of Bank Mandiri reached IDR 670 trillion in 2013.
PT Bank Central Asia has served Indonesian consumers for 60 years, making it one of the most successful companies in Indonesia. The sales have reached IDR 41.8 trillion.
PT Unilever Indonesia is a subsidiary of Unilever established in Rotterdam, the Netherlands. The company produces consumer goods with a consistent large sales value.
PT Semen Indonesia is the largest cement producer in Indonesia. Semen Gresik was listed on the Jakarta Stock Exchange and the Surabaya Stock Exchange in 1991.
Currently, PT Semen Indonesia has a production capacity of 29 million tons of cement annually, owning 42% of the domestic cement market share.
Looking at the table above, one might wonder what is the reason behind the success of these companies especially when their backgrounds are so diverse. Nor all of these companies are based on business-to-business (B2B) modal, neither they were all established during the Dutch colonial era.
However, when we take a closer look, we can define some similarities across different business sectors.
Not only do these companies follow trends in Indonesia, but they also create them. Taking into consideration the success of PT Indofood CBP Sukses Makmur famous for its Pop Mie, Indomie or Sarimi, and the Indonesian obsession with instant noodles, we can see the clear correspondence.
PT Indofood CBP Sukses Makmur used the power of marketing and managed to gain popularity among Indonesian citizens at a time when sells of instant products drop in western countries where a healthy lifestyle is considered as the top priority.
The purchasing power of Indonesian citizens and the growing middle-class results in success of PT Unilever Indonesia and PT Sumber Alfaria Trijaya, two companies that are selling various products meeting the daily needs of their customers.
Indonesia is the fourth most populous country in the world which means a considerable number of potential clients. This is a great advantage for companies such as PT Telekomunikasi Indonesia that provides internet connection through one of its companies called Telkomsel. Thanks to huge mobile penetration and almost no competition on the market, PT Telekomunikasi Indonesia was able to grow to an Indonesian multinational telecommunications conglomerate.
Even though Indonesia’s economy is growing every year, the country is still considered as a developing country with many business opportunities. Proven by the success of 4 Indonesian unicorns in 2018 (Tokopedia, Bukalapak, GO-JEK, Traveloka) the market offers several market niches to penetrate in.
In 2019, it is expected that Fin-Tech industry will be booming, followed by manufacturing and trading industries.
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