Business History: The Gang of Four's Octopus in the Cement Business

Bisnis.com, Jakarta — The long-standing oversupply problem in the cement industry may well have its roots three decades ago, when entrepreneurs close to the New Order regime easily secured permits for new factory constructions. PT Indocement Tunggal Prakarsa Tbk. (INTP), for instance, founded by the Gang of Four initiators of the Salim Group, was in the midst of vigorously expanding its production capacity in the 1990s. Members of the Gang of Four included Liem Sioe Liong alias Sudono Salim, Djuhar Sutanto, Sudwikatmono, and Ibrahim Risjad.