At first, Chairul Tanjung was a shoe factory ordinary businessman. Until he acquired a small bank at 1996, the Bank Karman, then changed its name to Bank Mega. Chairul named his bank as Bank Mega, because the word 'Mega' means 'Large'. He gave that name in accordance with his vision to make that small banks to be one of the biggest banks in Indonesia.
Today, his vision has been accomplished. In September 2009, with total assets reached Rp 34.9 trillion, Bank Mega is one of the top ten banks in Indonesia.
Why Chairul Tanjung decided to acquire Bank Mega? Here's the story. In the mid 90's, the shoes import business was in booming. After pioneering the shoe factory from 1987, Chairul finally began to enjoy substantial profits from his such business. But he soon realized: this golden period would not last long. At the end, this business would return sluggish as before.
Chairul has a very good business tip: Do not enter the business when it is booming. Instead, leave it, and go into ordinary business but have good prospects. If you continue to maintain the current business, you will not get anything.
Therefore, Chairul sold his shoes factory, just when everyone wants to have a shoes factory because at that time, income from the shoe factory were very high. Chairul got substantial money from the sale, and began to enter other business: financial services business. Chairul then founded the Para Multi Finance in 1995. And a year later, he acquired the Bank Mega.
Why Chairul choose to enter the financial services business than other businesses? Whereas actually this business only promising small profit margin? It was because Chairul able to see that foreign investors prefer to invest their funds in Indonesia in the financial sector than other sectors. That means, if he has a bank, then the big investors and investment banks from around the world will begin to glance at him to provide loans in large numbers. Therefore, Chairul worked seriously hard to develop the Bank Mega. The results? In 1999, Bank Mega received an award from Asiaweek, as the bank with the highest asset growth. And a year later, Bank Mega successfully entered the top 500 banks in Asia. Since then, big investors began to scramble to offer the investment to Chairul. Chairul began to have ample funds for expansion. The photocopy boy conglomerations started from here.
Chairul's decision to enter the financial service business, was a springboard to enter other businesses. In 1998, two years after the acquisition of Bank Mega, he entered the media business with obtain the Trans TV broadcasting license. Why media, especially television station? Because at that time the number of private television in Indonesia was still relatively small, while the media business opportunities that promises huge revenues from advertising was still huge. All entrepreneurs and producers need a media to advertise their products. Three years later, on December 2001, Trans TV went on air.
Chairul decision to enter the media business, is perfectly right decision. Trans TV has break event point by operation in May 2003, or less than two years since it went on air.
Chairul Tanjung was not merely looking for the profit when establishing Trans TV. The word 'Trans' is an abbreviation of 'transformation', which means a change for the better. By establishing Trans TV, Chairul aspires to make the better and more educated Indonesian community through good and educational entertainment.
In the same year as Trans TV went on air, Chairul also entered the property business by establishing Bandung Supermall in Bandung, West Java. Why property? Because of course it is a form of the safest investments, with little risk. So, if something bad happens on the other Chairul's businesses, then at least he still had property business.
Finally, in early 2002, Chairul Tanjung officially own business in fields of financial services, media, and property. A perfect combination to start get in and mastered all kinds of other business areas. Chairul then transformed from the ordinary shoes businessman, into a little rich kid that hungry of expansion and ready to eat all the business opportunities there.
Today, his vision has been accomplished. In September 2009, with total assets reached Rp 34.9 trillion, Bank Mega is one of the top ten banks in Indonesia.
Why Chairul Tanjung decided to acquire Bank Mega? Here's the story. In the mid 90's, the shoes import business was in booming. After pioneering the shoe factory from 1987, Chairul finally began to enjoy substantial profits from his such business. But he soon realized: this golden period would not last long. At the end, this business would return sluggish as before.
Chairul has a very good business tip: Do not enter the business when it is booming. Instead, leave it, and go into ordinary business but have good prospects. If you continue to maintain the current business, you will not get anything.
Therefore, Chairul sold his shoes factory, just when everyone wants to have a shoes factory because at that time, income from the shoe factory were very high. Chairul got substantial money from the sale, and began to enter other business: financial services business. Chairul then founded the Para Multi Finance in 1995. And a year later, he acquired the Bank Mega.
Why Chairul choose to enter the financial services business than other businesses? Whereas actually this business only promising small profit margin? It was because Chairul able to see that foreign investors prefer to invest their funds in Indonesia in the financial sector than other sectors. That means, if he has a bank, then the big investors and investment banks from around the world will begin to glance at him to provide loans in large numbers. Therefore, Chairul worked seriously hard to develop the Bank Mega. The results? In 1999, Bank Mega received an award from Asiaweek, as the bank with the highest asset growth. And a year later, Bank Mega successfully entered the top 500 banks in Asia. Since then, big investors began to scramble to offer the investment to Chairul. Chairul began to have ample funds for expansion. The photocopy boy conglomerations started from here.
Chairul's decision to enter the financial service business, was a springboard to enter other businesses. In 1998, two years after the acquisition of Bank Mega, he entered the media business with obtain the Trans TV broadcasting license. Why media, especially television station? Because at that time the number of private television in Indonesia was still relatively small, while the media business opportunities that promises huge revenues from advertising was still huge. All entrepreneurs and producers need a media to advertise their products. Three years later, on December 2001, Trans TV went on air.
Chairul decision to enter the media business, is perfectly right decision. Trans TV has break event point by operation in May 2003, or less than two years since it went on air.
Chairul Tanjung was not merely looking for the profit when establishing Trans TV. The word 'Trans' is an abbreviation of 'transformation', which means a change for the better. By establishing Trans TV, Chairul aspires to make the better and more educated Indonesian community through good and educational entertainment.
In the same year as Trans TV went on air, Chairul also entered the property business by establishing Bandung Supermall in Bandung, West Java. Why property? Because of course it is a form of the safest investments, with little risk. So, if something bad happens on the other Chairul's businesses, then at least he still had property business.
Finally, in early 2002, Chairul Tanjung officially own business in fields of financial services, media, and property. A perfect combination to start get in and mastered all kinds of other business areas. Chairul then transformed from the ordinary shoes businessman, into a little rich kid that hungry of expansion and ready to eat all the business opportunities there.
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