Firms with deep roots prosper<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
The relationship between Britain and Indonesia started four
\ncenturies ago, when Francis Drake, the first British navigator to
\nsail to the archipelago, arrived before the Dutch in the fabled
\nSpice Islands of Maluku in 1579.<\/p>\n
Business has played a key role in the relationship ever since,
\nsaid Richard Mann in his book 400 Years and More of the British
\nin Indonesia.<\/p>\n
British companies started to enter what is now Indonesia in
\nthe 19th century, continued to blossom in the 20th and 21st
\ncenturies, only being interrupted by World War II.<\/p>\n
Among the pioneering British firms that came into Indonesia
\nand maintain a presence today include oil and gas company Shell,
\nbanks Standard Chartered and Hongkong and Shanghai Banking
\nCorporation (HSBC), tobacco company British American Tobacco
\n(BAT) and consumer products company Unilever.<\/p>\n
Shell Companies in Indonesia (SCI) first arrived here 120
\nyears ago when oil was first discovered in the Dutch East Indies.<\/p>\n
Shell's origins date back to 1833 in London, but it only
\nentered the oil industry in 1890 and found itself in competition
\nwith Royal Dutch. In 1907, the two companies merged to form the
\nRoyal Dutch\/Shell Group.<\/p>\n
SCI is currently represented in downstream oil products and in
\ngas and power, including solar power.<\/p>\n
In the banking sector, Standard Chartered opened its first
\noffice here in 1863.<\/p>\n
Standard Chartered is named after two banks which merged in
\n1969: the Standard Bank of British South Africa and the Chartered
\nBank of India, Australia and China. Of the two banks, the
\nChartered Bank was the older, having been founded in 1853
\nfollowing the grant of a Royal Charter from Queen Victoria.<\/p>\n
Standard Chartered has now strengthened its presence in the
\ncountry by buying a stake at Permata Bank.<\/p>\n
\"The investment stake in Permata Bank is strong evidence of
\nthe banks ongoing commitment and confidence in the country,\" said
\nSimon Morris, chief executive officer of Standard Chartered Bank
\nIndonesia.<\/p>\n
HSBC has been in the country for more than 120 years.
\nInitially started to serve the important sugar trade, HSBC opened
\nits first Indonesian office in Jakarta in 1884, then expanded its
\noperation to Surabaya in 1896. In 1994, HSBC upgraded its
\nSemarang agency, which has been operating since 1878, into a full
\nbranch.<\/p>\n
Tobacco company BAT, meanwhile, entered Indonesia in 1917,
\nwhen BAT's representative, the NV Indo Egyptian Cigarette
\nCompany, bought Mishell, a Dutch-owned tobacco company in Cirebon
\nin what was then the Dutch East Indies.<\/p>\n
Now BAT not only produces cigarettes for the local market, but
\nalso grows tobaccos for BAT plants worldwide.<\/p>\n
\"Indonesia produces very good tobacco. And we export our
\ntobacco to BAT in other countries, including Singapore, Australia
\nand Germany,\" said Ian Morton, president director of BAT
\nIndonesia.<\/p>\n
Anglo-Dutch firm Unilever has been operating in Indonesia for
\nover 70 years. Since its establishment in 1933, Unilever
\nIndonesia has been one of the largest consumer goods business in
\nthe country.<\/p>\n
Granted, it is nice to know that there are a number of British
\nfirms with long histories in the country. But that is not enough
\nfor a country that is hungry for foreign investment. It has to
\nwork hard to attract more British firms to the country, as young
\nDrakes of the modern world are now racing for \"Spice Islands\"
\nelsewhere, namely in China, India and eastern Europe.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/firms-with-deep-roots-prosper-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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