Book on Jaya Group reveals success story

JAKARTA (JP): A prominent Indonesian writer launched yesterday his new book analyzing the rise of the Jaya Group and the strategies behind its expansion into a major conglomerate.

Kiat Menjadi Konglomerat: Pengalaman Grup Jaya (Strategy to becoming a Conglomerate: The Jaya Group Experience) was written by Bondan Winarno and published by PT Pustaka Sinar Harapan.

"I've never found a national private company willing to reveal its 'kitchen secrets' in a book for the public. Jaya's courage to tell their secrets is admirable," said Bondan.

Bondan's Tantangan Jadi Peluang: Kegagalan dan Sukses Pembangunan Jaya Selama 25 Tahun (Challenges become Opportunities: The Failures and Successes of Pembangunan Jaya over 25 Years) published 10 years ago was also about the Jaya Group.

The book was launched at the Kartika Chandra Hotel in a ceremony attended by the president of PT Pustaka Sinar Harapan, Aristides Katoppo, and all of the Jaya Group's executives, including its outgoing president Ciputra and president-designate Hanafi Lauw.

Jaya Group, a joint venture between the Jakarta Administration and several private companies, started operating as PT Pembangunan Jaya, a property firm with Rp 10 million (US$4,237 at current rate) in capital in 1961. After 35 years, its assets now total Rp 5 trillion and its businesses cover dozens of sectors.

Bondan finished the 379-page book in four months, using data provided by the Jaya Group and interviews of 45 people, including 40 hours of interviews with Ciputra.

Ciputra, the founder and key figure behind the Jaya Group's success, said the book's content is wholly Bondan's opinion, adding that in some respects he disagrees with Bondan's analysis but respects his rights as a writer.

"The kind of book we want is actually a public relations book, not a book (like Bondan's) which also tells of our failures, shortcomings, etc," he said.

Ciputra, however, said the book could be beneficial to the business community and younger generation.

"We'll let the public judge the book's content and Bondan's analysis," he said. (jsk)