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Tag: CT Corp

  • CT Corp moving to open cinemas

    CT Corp moving to open cinemas

    Indonesia’s retail/media conglomerate CT Corp is partnering with cinema companies to open movie theatres in its retail complexes.

    CT retail arm Trans Retail has announced a partnership with Graha Layar Prima, which runs the Korean-owned CGV cinema chain (formerly known as Blitz Megaplex), to develop cinemas at CT’s Transmart Carrefour stores across Indonesia. Launched last year, the Transmart centres feature restaurants, apparel stores and supermarkets. There are presently 13 outlets, with a US$3 billion plan to expand the number to 100 by 2019.

    CT founder/chairman Chairul Tanjung says that over the next three years a minimum of 500 cinema screens will be opened in Transmart centres.

    GLP will open CGV cinemas in four Transmart centres in Java and Sumatra in May, with plans to add four more by the end of the year. Each cinema will have five screens and include 4D entertainment systems, sofa-type seating for couples and VIP spaces that serve drinks and snacks.

    GLP says its cinemas attracted more than 10 million visitors last year, a 150 per cent increase from 2012. It aims expand its network of cinemas to 40 from the current 27.

    Meanwhile, Singaporean sovereign wealth fund GIC is to acquire an undisclosed stake in cinema company Nusantara Sejahtera Raya (NSR) for 3.5 trillion rupiah (US$262.9 million).

    Trans Retail has just signed a deal to install NSR’s Cinema XXI movie theatres in at least four Transmart stores this year.

    Meanwhile, mall management company Lippo Group is expanding its own cinema business, with plans to have 2000 screens across 85 cities by 2024.

  • Tough battle brews in Indonesian eCommerce

    Tough battle brews in Indonesian eCommerce

    Three Indonesian eCommerce platforms are about to be launched – by Astra Graphia, CT Corp and a joint venture formed by the Salim and Lotte Groups.

    This comes after forays into eCommerce in the past 12 months by such Indonesian conglomerates Lippo Group (MatahariMall and Venturra Capital), Sinar Mas Group (SMDV) MNC Group (BrandOutlet) and MAP Group (eMall), reports E27, which says Indonesia’s eCommerce market is predicted to grow to US$130 billion by 2020.

    Salim Group has signed an agreement with South Korea’s retail giant Lotte Group to form a joint venture for eCommerce business. Launching next year, it is the second such collaboration followingElevenia.
    Lotte Group’s portfolio in Indonesia includes a department store, 41 retail stores and 31 fast-food franchise outlets. Salim Group owns businesses in the F&B, infrastructure, logistics, telco, media and real estate sectors. It also has 11,000 Indomaret minimart outlets.
    “We expect ourselves to champion the market as soon as we walk into it, says CT Corp founder Chairul Tanjung, who has yet to reveal a launch date for the group’s online venture.

    CT Corp owns hypermarket chain Carrefour, the department store chain Metro, hotels and theme parks managed by TransStudio, media companies Detik and TransTV, and fashion and F&B outlets.

    Its new eCommerce platform will be a separate business entity from the group’s TransRetail subsidiary, which covers its retail businesses.
    Meanwhile, a subsidiary of Astra International specialising in office equipment and services, Astra Graphia has spent about IDR50 billion (US$3.6 million) on developing its Axiqoe platform.
    “The online shop will display thousands of items, initially for business-to-business,” says Astra Graphia’s chief of finance Panji Nurfirman.

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  • Fund expands Indonesia exposure, buys into retail

    Fund expands Indonesia exposure, buys into retail

    Singapore sovereign wealth fund GIC has increased its exposure to Indonesia’s growing middle class by investing 5.2 trillion rupiah ($385 million) in Trans Retail, the main retail arm of conglomerate CT Corp.

    CT Corp’s businesses span television and online media to retail, banking and amusement parks. Its retail arm Trans Retail, formerly a local unit of French retail group Carrefour, currently runs 86 hypermarkets and supermarkets in the country under the Carrefour and TRANSmart brands.

    GIC said in a press release on Wednesday that Trans Retail is taking advantage of the rapidly expanding consumer class as Indonesia’s retail scene shifts from traditional mom-and-pop stores to modern trade formats.

    “We are keen to build lasting partnerships with reputable local partners,” said Amit Kunal, GIC’s head of direct investments group for Southeast Asia.

    CT Corp’s owner Chairul Tanjung, Indonesia’s fifth richest businessman in 2015 according to U.S. magazine Forbes, is a rare breed of non-ethnic Chinese tycoons in the country who built his business from scratch. CT Corp gained full ownership of Trans Retail after it increased its stake to 100% in 2013 for 525 million euros ($578 million). The group also has a stake in Garuda Indonesia, the country’s flag carrier.

    GIC has been boosting investments in consumer sectors overseas, especially in emerging markets where the middle class population is growing. Its investments include retail, e-commerce, education and medical sectors.

    In 2014, the sovereign wealth fund participated in a round of investment for Indian e-commerce company Flipkart, which raised a total of $1 billion, and invested $104 million in Taiwanese music-streaming company KKBOX. The fund has also actively invested in various shopping malls overseas, including in the U.S., South Korea and Brazil.

    Nonetheless, uncertainties remain in the outlook for Indonesia’s retail scene. Trans Retail does not disclose its financial performance, but the earnings of Indonesian retailers have been under pressure amid a slowdown in consumer spending.

    Matahari Putra Prima, a listed hypermarket operator affiliated with the Lippo Group conglomerate, reported a 30% year-on-year decline in net profit for the nine months ended in September 2015. On Wednesday, supermarket operator Hero Supermarket said it would sell off its convenience store business.

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