One of the hot stocks on the Indonesia Stock Exchange (IDX) over the last year has definitely been PT Bank Jago – previously PT Bank Artos. After being pretty much dormant since its IPO in 2016, its shares were priced at Rp 4,300 at the end of last year, a more than twentyfold increase since Patrick Walujo and Jerry Ng acquired 51% of the shares of the small lender in August 2019. Patrick is the cofounder and managing partner of the private equity company Northstar Group, and Jerry is one of Indonesia's top veteran bankers and a former president director of PT Bank BTPN. At the current share price, Bank Jago is already among the top ten largest banks by market capitalization and has made Jerry one of Indonesia's 50 richest in Forbes's Richest Indonesians list for 2020. Despite the bank still having a negative bottom line – at the end of the third quarter last year, it booked Rp 105 billion in losses, up from the same period in 2019 of minus Rp 19 billion – its net interest income significantly improved so its likely investors aren't betting on the current performance of the bank but instead are staking their money on Patrick, and Jerry's reputation for creating value.
هذه القصة مأخوذة من طبعة January 2021 من Forbes Indonesia.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة January 2021 من Forbes Indonesia.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
BACK ON TRACK
Collective wealth gets a 21% boost to a record $162 billion amid an economic uptick.
Championing Locals
The wave of social commerce is enabling inclusive digital economies beyond urban areas.
Boys in the Bubble
Startups are supposed to specialize, but OPENSEA’s founders thrived by building a wide-open market for creating and trading all manner of NFTs, whether art, music or gaming. Now that they’re centimillionaires and poised to become billionaires, they have other worries: competitors, fraudsters and the next crypto crash.
Enduring Relations
The implementation of IA-CEPA amid the pandemic signifies the Indonesia-Australia’s commitment to recover and counter future challenges together.
Sweet Success
Steven Erwin envisions Unifam to become a major global player in the confectionery and F&B industry.
Marathon Man
Across America, scores of municipal pension funds remain scandalously underfunded. But not the pension fund of Tampa’s police and firemen, thanks in large part to JAY BOWEN, whose no-frills approach to stock picking has protected and served them for more than 45 years.
Gold Rallies on Inflation Fears
During September the price of gold rallied to $1,868 per ounce following the release of figures on US inflation by the Bureau of Labor Statistics which indicated that, as of September, CPI inflation had rocketed to 6.2%, above the 5.8% which economists had been predicting.
Set Off to A New Start
Bank Aladin has two main ingredients for success: establish trust and offer better customer experiences.
The Daily Intake
YOUVIT plans to invest further into marketing and grow into one of the leading vitamin brands in Indonesia.
THE CROESUS OF CRYPTO
FTX COFOUNDER SAM BANKMAN-FRIED BUILT A $22.5 BILLION FORTUNE BEFORE HIS 30TH BIRTHDAY BY PROFITING OFF THE CRYPTOCURRENCY FRENZY—BUT HE’S NOT A TRUE BELIEVER. HE JUST WANTS HIS WEALTH TO SURVIVE LONG ENOUGH TO GIVE IT ALL AWAY.
