CT Corp (formerly known as Para Group) is one of Indonesia's largest diversified conglomerates. The group was founded by Chairul Tanjung in 1987. CT Corp operates consumer-centric businesses nationwide across four key industries: financial services, media and entertainment, retail, as well as property.

History

Early history

CT Corp started out as a small children's shoes export business with a capital of Rp 150 million, which Chairul Tanjung obtained from Bank Exim.

Financial Services

In 1996, CT Corp acquired Mega Bank and changed its name to Bank Mega. CT Corp also took over Bank Tugu and changed its name to Bank Mega Syariah. On 28 March 2001, Bank Mega listed in the

Indonesia Stock Exchange Indonesia Stock Exchange (IDX) ( (BEI)) is a stock exchange based in Jakarta, Indonesia. It was previously known as the Jakarta Stock Exchange (JSX) before its name changed in 2007 after merging with the Surabaya Stock Exchange (SSX). In rece ...

for Rp. 1,125 per share. Since then, Bank Mega has continued to be CT Corp's largest cash flow generator. CT Corp's financial services arm continues to grow. It launched one of Indonesia's largest digital banks, Allo Bank (IDX: BBHI) on 20 May 2022.

Media

CT Corp's media business started with the operation of

Trans TV PT Televisi Transformasi Indonesia, commonly known as Trans TV, is an Indonesian Terrestrial television, free-to-air television broadcaster based in South Jakarta that was launched on December 15, 2001, and is owned by Chairul Tanjung. Programm ...

, the group's earliest and oldest free-to-air TV channel. The turning point of Trans TV's success took place since the first quarter of 2002. According to a Nielsen Media Research survey, at that time, Trans TV was ranked fifth as the highest number of adverts from 10 television stations, namely Rp 149.2 billion. Armed with performance success, and pegged to number two at the end of 2005, Trans TV made a memorandum of understanding to buy part of TV7 shares held

Kompas Gramedia Group Kompas Gramedia is a major Indonesian media company. It engages in several businesses, predominantly mass media, as well as hospitality, manufacturing, and event organizing. The company's businesses consist of multiple divisions, such as media ...

through its parent company Trans Corp in June 2006, and changed the name and identity of TV7 company to

Trans7 PT Duta Visual Nusantara Tivi Tujuh (previously PT Duta Visual Nusantara), operating as Trans7 or TRANS7 in all caps (stylized TRɅNS, 7, pronounced ''Trans Tujuh'' in Indonesian, formerly known as TV7) is an Indonesian free-to-air television b ...

on 15 December that year. CT Corp also operates digital media companies, including Indonesia's largest local news source Detik.com. The group also operates

CNN Cable News Network (CNN) is a multinational news organization operating, most notably, a website and a TV channel headquartered in Atlanta. Founded in 1980 by American media proprietor Ted Turner and Reese Schonfeld as a 24-hour cable ne ...

and

CNBC Indonesia CNBC Indonesia is an Indonesian television network owned by Trans Media in collaboration with NBCUniversal under the CNBC license. Launched on 10 October 2018. The channel is the second business-oriented news channel in Indonesia after IDX Chan ...

Retail

The group's major entry into retail was through the acquisition of 40% stake of

Carrefour Carrefour Group, S.A. (, ), is a French multinational retail and wholesaling corporation headquartered in Massy, Essonne, Massy, France. It operates a chain of hypermarkets, grocery stores and convenience stores. By 2024, the group had 14,000 ...

's Indonesia operation in 2010, which then fully acquired by CT Corp in January 2013. Since then, the stores have been rebranded as either "Transmart Carrefour" or "Transmart". CT Corp also operates Metro department store, high-end retail stores (i.e

Hugo Boss Hugo Boss AG (stylized in all caps) is a designer fashion company headquartered in Metzingen, Baden-Württemberg, Germany. The company sells clothing, Fashion accessory, accessories, footwear, and Leather, leather goods. Hugo Boss is one of the ...

Versace Gianni Versace S.r.l. (), usually referred to as Versace ( ), is an Italian luxury elite fashion company founded by Gianni Versace in 1978. The company produces Italian-made ready-to-wear and accessories, as well as '' haute couture'' under it ...

Armani Giorgio Armani S.p.A. (), commonly known as Armani, is an Italian luxury fashion house founded in Milan by Giorgio Armani which designs, manufactures, distributes and retails haute couture, ready-to-wear, leather goods, shoes, accessories, and ...

, Furla, Etienne Aigner,

Tod's Tod's S.p.A. is an Italian fashion house specialized in footwear, apparel, and related accessories headquartered in Marche. It is majority controlled by businessman Diego Della Valle. Founded in 1920 by Filippo Della Valle, a cobbler, it was co ...

Tommy Hilfiger Thomas Jacob Hilfiger ( ; born March 24, 1951) is an American fashion designer and the founder of Tommy Hilfiger (company), Tommy Hilfiger Corporation. After starting his career by co-founding a chain of jeans/fashion stores called People's P ...

, Valentino, Brioni,

Jimmy Choo Jimmy Choo Yeang Keat (born 15 November 1948) is a Malaysian fashion designer based in the United Kingdom. He co-founded Jimmy Choo Ltd, which became known for its handmade women's shoes. Early life Choo was born in 1948 in the Crown Colony ...

Mango A mango is an edible stone fruit produced by the tropical tree '' Mangifera indica''. It originated from the region between northwestern Myanmar, Bangladesh, and northeastern India. ''M. indica'' has been cultivated in South and Southeast As ...

, Geox), as well as F&B segment (i.e The Coffee Bean & Tea Leaf,

Wendy's Wendy's International, LLC, is an American international fast food restaurant chain founded by Dave Thomas (businessman), Dave Thomas on November 15, 1969, in Columbus, Ohio. Its headquarters moved to Dublin, Ohio, on January 29, 2006. As of D ...

Baskin-Robbins Baskin-Robbins, Inc. is an American multinational chain of ice cream and cake specialty store, specialty shops owned by Inspire Brands. Baskin-Robbins was formed in 1945 by Burt Baskin and Irv Robbins in Glendale, California.Bandung Bandung is the capital city of the West Java province of Indonesia. Located on the island of Java, the city is the List of Indonesian cities by population, fourth-most populous city and fourth largest city in Indonesia after Jakarta, Surabay ...

Surabaya Surabaya is the capital city of East Java Provinces of Indonesia, province and the List of Indonesian cities by population, second-largest city in Indonesia, after Jakarta. Located on the northeastern corner of Java island, on the Madura Strai ...

, and

Bali Bali (English:; Balinese language, Balinese: ) is a Provinces of Indonesia, province of Indonesia and the westernmost of the Lesser Sunda Islands. East of Java and west of Lombok, the province includes the island of Bali and a few smaller o ...

. The group also operates theme parks (Trans Snow World, Trans Studios), and small-format entertainment centers (Kid City).

Relationship

The group is known to have good relations with Anthoni Salim.

Salim Group The Salim Group is Indonesia's biggest conglomerate and refers to companies where the Salim family holds majority ownership. Its assets include Indofood Sukses Makmur, the world's largest instant noodle producer; Indomobil Group, one of Indon ...

had been indebted when Para Group helped save

Bank Central Asia PT Bank Central Asia Tbk, commonly known as Bank Central Asia (BCA), is an Indonesian bank founded on 21 February 1957. It is the largest private bank in Indonesia, with assets amounting to Rp 5.529,83 trillion (US$308,5 billion) as of 2022. It ...

, which was then hit by a financial crisis. With the Salim Group, Para Group partners in working on projects in

Batam Batam, officially the City of Batam (, not to be confused with ''Batam Kota'', a kecamatan, district within this city), is the largest List of regencies and cities of Indonesia, city in the Indonesian province of Riau Islands. The city administra ...

and

Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...

. With Sinar Mas Group, Para Group also partners in the Mega Life life insurance company. In Singapore, Para Group acquired a public company called Asia Medic, which is engaged in health care. Besides that, Para Group created a joint venture company called Gladifora. Whereas in Batam, (in collaboration with Arsikon) Para Group created a joint venture in the property sector, and has obtained a concession of around 300 hectares in a strategic location. The plan on this land will be built entertainment and residential centers. The housing is Coastarina.

Corporate identity changes

On 1 December 2011, Chairul Tanjung inaugurated the Para Group change to CT Corp. CT Corp consists of three sub holding companies: Mega Corp, Trans Corp, and CT Global Resources, which include financial services, media, retail, lifestyle, entertainment, and natural resources. Changing the name of this company also coincides with changes in the company's identity and logo. According to Chairul Tanjung, because it has been 30 years, there must be a transformation.

Corporate governance

Shareholders of CT Corp include Chairul Tanjung and his family members, as well as Japanese conglomerate

Mitsui is a Japanese corporate group and '' keiretsu'' that traces its roots to the ''zaibatsu'' groups that were dissolved after World War II. Unlike the ''zaibatsu'' of the pre-war period, there is no controlling company with regulatory power. Ins ...

& Co, which invested nearly $1 billion in CT Corp in 2021. Global investors, including Singapore's sovereign wealth fund GIC Private Limited and World Bank's

International Finance Corporation The International Finance Corporation (IFC) is an international financial institution headquartered in Washington, D.C. and a member of the World Bank Group that offers investment, advisory, and asset-management services to encourage private ...

, hold direct and indirect stakes in CT Corp's subsidiaries.

Business units

* PT Mega Corpora ** PT Bank Mega Tbk ** PT Bank Allo Indonesia Tbk ** PT Bank Syariah Mega Indonesia ** PT PFI Mega Life Insurance ** PT Asuransi Umum Mega ** Mega Capital Sekuritas ** PT Mega Asset Management ** PT Mega Capital Investama ** PT Mega Finance ** PT Mega Auto Finance ** PT Mega Central Finance * PT Trans Airways **

Garuda Indonesia Garuda Indonesia is the flag carrier of Indonesia, headquartered at Soekarno–Hatta International Airport near Jakarta. A successor of KLM Interinsulair Bedrijf, it is a member of SkyTeam airline alliance and the second-largest airline of Ind ...

(28.27%) ***

Citilink PT Citilink Indonesia, operating as Citilink, is an Indonesian low-cost airline headquartered in Jakarta. Established in July 2001 as a low-cost brand of Garuda Indonesia, it operates services to domestic and regional destinations. Since 30 Jul ...

* PT Trans Corpora (Trans Corp) ** PT Trans Media Corpora ( Trans Media) *** PT Televisi Transformasi Indonesia (

) *** PT Duta Visual Nusantara Tivi Tujuh (

) *** PT Trans News Corpora (

CNN Indonesia CNN Indonesia is a 24-hour clock, 24-hour Indonesian free-to-air television news, television news channel owned by Trans Media in collaboration with Warner Bros. Discovery under a CNN license. Broadcasting from Trans Media studios in South Jak ...

, CNNIndonesia.com) *** PT Trans Berita Bisnis (

, CNBCIndonesia.com) *** PT Trans Digital Media (

Detik Detikcom (stylized in all-lowercase) is an Indonesian digital media company owned by Trans Media, a business unit of CT Corp. Detikcom is an online news portal and publishes breaking news. The portal is consistently ranked among Indonesia's 10 ...

Network) *** PT Indonusa Telemedia ( Transvision) *** PT Trans Rekan Media *** PT Trans Entertainment *** PT Trans Event Produksi (Trans Event) ** PT Trans Fashion International (Trans Fashion) *** PT Trans Fashion Indonesia, including PT Metropolitan Retailmart ( Metro) *** Trans Fashion Thailand Co Ltd *** Wanmani Group Co Ltd ** PT Trans Food & Beverage (Trans F&B) ** PT Trans Retail Indonesia, including Transmart and PT Alfa Retailindo ( Transmarket) ** PT Trans Entertainment * PT Trans Property Indonesia ** Trans Park ** PT Trans Studio ***

Trans Studio Bandung Trans Studio Bandung is a mixed-use development in Jalan Gatot Subroto of Bandung, Indonesia, built on a land with size of . It is part of the CT Corp, owned by Chairul Tanjung. Trans Studio Bandung is composed of several sections including a sh ...

*** Trans Studio Makassar *** Trans Studio Bali *** Trans Studio Cibubur *** Trans Studio Resort Bandung *** Trans Studio Resort Makassar *** Trans Studio Resort Cibubur ** Trans Snow World *** Trans Snow World Bintaro *** Trans Snow World Bekasi *** Trans Snow World Surabaya *** Trans Snow World Makassar *** Trans Snow World Lampung ** Trans Studio Ski World ** PT Trans Mall Property, including Trans Studio Mall Cibubur ** PT Trans Hotel Internasional Indonesia ** Trans City ** Gedung Trans Media ** Gedung Transvision ** Menara Bank Mega ** Menara Bank Mega Kuningan ** Menara Bank Mega Bandung ** Menara Bank Mega Semarang ** Menara Bank Mega Makassar ** Menara Mega Syariah ** Wisma Trans Lifestyle ** Graha Trans Coffee ** Masjid Agung Trans Studio Bandung * PT CT Agro Indonesia (CT Agro) * AntaVaya Group * PT CT Corp Infrastruktur Indonesia * PT CT Corp Digital Indonesia (CT Corp Digital) * CT Arsa Foundation

References

External links

* {{official website, http://ctcorpora.com 1987 establishments in Indonesia Conglomerate companies of Indonesia Companies based in Jakarta Companies established in 1987 Privately held companies of Indonesia