300 conglomerates lead domestic market share<\/p>\n
JAKARTA (JP): The 300 largest conglomerates in the country
\ncontinue to dominate local market share, making up 47.8 percent
\nof the country's gross national product.<\/p>\n
In a report released yesterday, the Indonesian Business Data
\nCenter said that the combined turnovers of the 300 conglomerates
\nincreased by 15 percent last year to Rp 169.6 trillion (US$73.5
\nbillion) from Rp 147.2 trillion in 1993.<\/p>\n
Their combined sales were almost twice those booked by all
\nstate-owned companies, totaling Rp 85 trillion last year.<\/p>\n
The share of the 10 largest, in terms of sales, increased by
\n2.2 percentage points to 17.2 percent, or Rp 60.9 trillion, of
\ntheir combined turnovers last year from 15 percent, or Rp 51.2
\ntrillion, in 1993.<\/p>\n
The 10 largest conglomerates included Salim, which recorded
\ntotal sales of Rp 18.9 trillion last year; Astra International
\nwith total sales of Rp 9.5 trillion; Sinar Mas with Rp 7.99
\ntrillion; Gudang Garam with Rp 4.9 trillion; Barito Pacific with
\nRp 3.9 trillion; Lippo with Rp 3.56 trillion; Djarum with Rp 3.31
\ntrillion; Argo Manunggal Rp 3.3 trillion; Kalimanis with Rp 2.96
\ntrillion and Dharmala with Rp 2.87 trillion.<\/p>\n
The 50 largest conglomerates were responsible for Rp 108
\ntrillion, or 63.8 percent, of the combined turnovers last year,
\nrising by 1.6 percentage points from 62.2 percent in 1993.<\/p>\n
In terms of turnover classification, 31 conglomerates entered
\nthe group with sales of over Rp 1 trillion last year, 47
\nconglomerates had sales of between Rp 500 billion and Rp 1
\ntrillion and 222 conglomerates generated sales of between Rp 50
\nbillion and Rp 500 billion.<\/p>\n
The combined market share of those with turnovers of over Rp 1
\ntrillion increased significantly last year, from 48.9 percent in
\n1993 to 54.5 percent last year.<\/p>\n
\"The giant groups remained in domination of market shares,\"
\nChristianto Wibisono, chairman of the data center, said when
\nreleasing the report.<\/p>\n
Rent-seeking<\/p>\n
One report figure revealed that 27 conglomerates, which
\ncontrolled 22.5 percent of combined turnovers, continued to
\nexhibit rent-seeking behavior.<\/p>\n
Based on their sales growth, only 16 conglomerates suffered
\ndeclines in their growth rates last year, and 11 business groups
\nenjoyed growth of over 50 percent.<\/p>\n
The 11 groups included Prasidha, Tirtamas, Ciputra, ALatief
\nCorporation, Centris, Fajar Surya Wisesa, Kalbe, Anwar Sierad,
\nSampoerna, Surya Pertiwi and Mayora groups.<\/p>\n
In terms of assets, 56 business groups controlled 74.5 percent
\nof the 300 conglomerates' combined assets of Rp 271.89 trillion
\nlast year.<\/p>\n
The first 10 largest conglomerates, in terms of assets,
\nalready controlled 39.3 percent of the combined assets.<\/p>\n
They included Salim with Rp 32.14 trillion in assets last
\nyear, Sinar Mas with Rp 15.28 trillion, Bank Danamon with Rp 11.3
\ntrillion, Astra International with Rp 10.18 trillion, Gadjah
\nTunggal with Rp 8.15 trillion, Lippo with 7.34 trillion, Dharmala
\nwith Rp 6.4 trillion, Barito Pacific with Rp 6.24 trillion, Bank
\nBali with 5.1 trillion and Bank Niaga with Rp 4.94 trillion.
\n(rid)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/300-conglomerates-lead-domestic-market-share-1447893297",
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