3 April 2020 (closed)
USD/IDR (16,464) -277.01 -1.65%
EUR/IDR (17,872) -449.69 -2.45%
Jakarta Composite Index (4,623.43) +91.74 +2.02%
Update COVID-19 in Indonesia: 1,986 confirmed infections, 181 deaths (3 April 2020)
The Bosowa Corporation - a private company - is an East Indonesia-based conglomerate that has grown not only into a leading East Indonesian conglomerate, but also into a major player in the Indonesian business corporations.
|Industry Sub Sector||Various|
|Commenced Operations||22 February 1973|
|Founder||H.M. Aksa Mahmud|
|Main Hub||Makassar (Sulawesi)|
|Key Subsidiaries||PT Semen Bosowa Maros
PT Semen Bosowa Batam
PT Bosowa Berlian Motor
PT Bosowa Energi
PT Bosowa Resources
The company has diversified business interests, including:
• Infrastructure & Power Plant
• Financial services
• Natural Resources
As with many other Indonesian companies, the Bosowa Corporation was on the brink of bankruptcy when the Asian Financial Crisis hit in 1997-1998. Instead of a government take-over, the management opted for a debt restructuring plan which it was able to repay in the 2000s due to its blossoming businesses.
The cement manufacturing and marketing business currently constitutes the ‘core business’ of the Bosowa Corporation. Starting with the construction of the PT Semen Bosowa Maros plant it expanded its cement business to Western Indonesia with the development of the PT Semen Bosowa Batam plant with an annual output capacity of 1,2 million tons of cement. Employing more than 1,000 personnel, PT Semen Bosowa Maros and PT Semen Bosowa Batam are the youngest cement manufacturers in Indonesia, and the only cement companies wholly owned by a private national company.
Bosowa Corporation has the exclusive rights to market, distribute and service the products of Mitsubishi Motors and Mitsubishi Fuso Trucks & Buses in Eastern Indonesia through PT Bosowa Berlian Motor. The automotive group also operates around 1,000 taxi fleets in Makassar and Surabaya, as well as 250 rental cars for corporate and individual purpose.
The construction and management of toll roads are entrusted to listed company PT Nusantara Infrastructure Tbk, whose shares are majority-owned by the Bosowa Corporation. A number of toll roads that are now operated by PT Nusantara Infrastructure are the ‘Reformasi’ toll road in Makassar (South Sulawesi), the ‘Bintaro Serpong Damai’ toll road in Tangerang (Banten), the ‘Fourth Section’ toll road that connects the city of Makassar to the Hasanuddin Airport, and the W1 toll connecting Kebon Jeruk (West Jakarta) to Penjaringan (North Jakarta).
Bosowa Corporation opened its first coal-fired power plant with a total electricity generating capacity of 2 x 125 MW in Jeneponto (South Sulawesi) in January 2013. The company plans to build a second power plant next to the group’s plant in Jeneponto.
The financial service business of Bosowa Corporation currently focuses on general insurance service, leasing and financing. Insurance is represented by PT Asuransi Bosowa Periskop that is engaged in general insurance service. Leasing and financing services are provided through PT Bosowa Multi Finance which primarily serves the Eastern Indonesia market with six operating branches. In the future, Bosowa Corporation intends to enter into the banking business.
The development of the property business has begun since 1980, and today represents one of the pillars of the Bosowa group of companies, with the development of several choice properties primarily in Makassar such as the Bosowa Tower, Hospital, and Hotels.
PT Bosowa Agro Industries currently provides training to farmers for the development of superior varieties of rice and corn plants in Maros (South Sulawesi). PT Bantimurung Indah produces seaweeds for export, and PT Bosowa Isuma is involved in shrimp and fish farming. Through PT Bosowa Agro Industries, Bosowa Corporation is currently developing an oil palm plantation in South Sulawesi.
PT Bosowa Resources is exploring new ventures in coal, nickel and tins to further expand its investment in the mining sector. The group's mining products include limestone, Silica, Clay & Trass. The group is also involved in the mining and production of marbles with the capacity of 4,500m2 per month in various shapes, sizes and colors.
Menara Karya Building, 16th Floor
JL. H.R. Rasuna Said, Blok X-5, Kav. 1-2
Phone: +62 21 579 44344
Fax: +62 21 579 44544