PT Mayora Indah Tbk
Mayora Group
Company typePublic
IDX: MYOR
IndustryFood
Beverage
Founded17 February 1977; 47 years ago (1977-02-17)
FounderJogi Hendra Atmadja
HeadquartersWest Jakarta,
Jakarta SCR
,
Indonesia
Area served
Worldwide
Key people
  • Jogi Hendra Atmadja (President Commissioner)
  • Andre Sukendra Atmadja (President Director)
Products
RevenueIncrease Rp 30,669 trillion (2022)
Increase Rp 2,433 trillion (2022)
Increase Rp 2,008 trillion (2022)
Total assetsIncrease Rp 22,276 trillion (2022)
Total equityIncrease Rp 12,835 trillion (2022)
OwnerPT Unita Branindo (32.93%)
PT Mayora Dhana Utama (26.14%)
Jogi Hendra Atmadja (25.24%)
Number of employees
15,532 (2022)
SubsidiariesPT Sinar Pangan Barat
PT Sinar Pangan Timur
PT Torabika Eka Semesta
Mayora Nederland B.V.
Mayora India Pvt. Ltd.
Websitewww.mayora.com

PT Mayora Indah Tbk, also known as the Mayora Group or simply called Mayora, is an Indonesian multinational food and beverage company headquartered in West Jakarta, Jakarta SCR, Indonesia. It was founded on 17 February 1977 by Jogi Hendra Atmadja. The company is recognized as the world's largest coffee candy manufacturer through the Kopiko brand.[citation needed] The company has been listed on the Jakarta Stock Exchange (now Indonesia Stock Exchange) since 4 July 1990. PT Unita Branindo holds 32.93% of shares.[1]

History

Mayora's history dates back to 1948, when a family of Chinese immigrants to Indonesia began making biscuits in their home kitchen, with Marie Biscuits as their first product. In 1976, the family moved to Kampung Bali in Jakarta and began selling Roma brand biscuits. Mayora was formally established in 1977, opening its first factory in Tangerang, west of the Indonesian capital Jakarta. Kopiko, a coffee-flavored candy, was launched in 1982.[2] The company went public in 1990 and expanded its presence to other Asian countries. In November 2017, Mayora's Kopiko snacks were photographed at the International Space Station as part of a Thanksgiving dinner held by astronauts.[3] In 2019, Mayora founder and head Jogi Hendra Atmadja was listed by Forbes as the 10th richest person in Indonesia, with wealth of $3 billion.[4]

Products

Mayora Group produces several product lines, namely:

Mayora also produced several Meiji Seika brands.

Markets

Asia

Middle East

Oceania

Africa

Europe

North America

South America

Controversies

Bankers Trust case

During the 1997-98 Asian financial crisis, when the value of the Indonesian rupiah plummeted, Mayora defaulted on payment obligations to Bankers Trust International. BTI had sold derivative trading contracts to Mayora under International Swaps and Derivatives Association Master Agreements (ISDA Agreements), which contained an arbitration clause. Unwilling to pay its obligations, Mayora sued BTI at South Jakarta District Court, arguing that the agreements were similar to gambling and therefore against Indonesian law.[5] BTI took the case to the London Court of International Arbitration (LCIA), which ruled in favor of BTI, but South Jakarta District Court ruled in favor of Mayora. BTI appealed and the Indonesian Supreme Court upheld the ruling in 2000 and again in 2003, leaving BTI with no further legal recourse.[6]

Free candy for pregnant mothers

According to author Martin Lindstrom's book Brandwashed: Tricks Companies Use To Manipulate Our Minds And Persuade Us To Buy, doctors in the Philippines were given Kopiko candies to hand out to pregnant mothers, and the company later introduced a coffee product which tasted like the candy and became popular with children.[7]

Mineral water factory dispute

In 2014, residents of Pandeglang regency in Indonesia's Banten province began staging protests with the aim of expelling PT Tirta Fresindo Jaya, a subsidiary of Mayora Group, which planned to build a Le Minerale bottled water factory in Cadasari subdistrict that would tap groundwater from natural springs in the area. Residents argued they needed the groundwater for their daily supplies and irrigation needs. The protests culminated in February 2017, when the factory site was attacked, delaying construction activity. Protesters said their aspirations had been ignored by local officials and politicians. In response to initial protests, then-Pandeglang regent Erwin Kurtubi in November 2014 issued a letter to the president director of PT Tirta Fresindo Jaya to "stop investment activities", but the letter had no legal force and the company's activities continued. After Fresindo drilled and tested groundwater in early 2016, locals complained their water reservoirs had dwindled and agricultural irrigation was disrupted. Locals also claimed that a community consent letter for the factory contained falsified signatures. Residents whose names were collected for signatures were each reportedly paid Rp1 million in cash, minus Rp200,000 deducted per person for a mediator. Mayora spokesman Sribugo Suratmo said the community's concerns were unreasonable because the factory had obtained all necessary permits from the local government and would not interfere with surface wells.[8] The company also argued the factory would benefit the local economy and attract further investment.[9]

School children caffeine overdose

On September 30, 2016, 34 high school students at Concord Technical Institute in Cebu City in the Philippines were briefly hospitalized for caffeine overdose after they consumed free samples of Kopiko 78C bottled drink offered to them. Additionally, some students had reportedly consumed more than three or four bottles each. Doctors said children over 12 should only consume up to 70 milligrams of caffeine daily, whereas each bottle of Kopiko 78C contained 150 milligrams of caffeine. A city councilor commented that the distributor of the free samples may be held liable for giving out coffee to minors.[10]

See also

References

  1. ^ "Mayora At a Glance". mayora.com. Archived from the original on 20 June 2019. Retrieved 20 June 2019.
  2. ^ "RHB Indonesia Sector Update 24 August 2018" (PDF). RHB TradeSmart. RHB TradeSmart. Retrieved 23 February 2020.
  3. ^ "Indonesian coffee candy literally 'out of this world'". The Jakarta Post. 26 November 2017. Retrieved 23 February 2020.
  4. ^ "2019 Indonesia's 50 Richest, #10 Jogi Hendra Atmadja". Forbes. December 2019. Retrieved 23 February 2020.
  5. ^ George A. Bermann (17 July 2017). Recognition and Enforcement of Foreign Arbitral Awards: The Interpretation and Application of the New York Convention by National Courts. Springer. pp. 495–. ISBN 978-3-319-50915-0.
  6. ^ "Enforcement Of Foreign Arbitral Award in Indonesia (Part 3 – the end)". Asian Legal Business. THOMSON REUTERS. Archived from the original on 25 March 2018. Retrieved 25 March 2018.
  7. ^ Martin Lindstrom (20 September 2011). Brandwashed: Tricks Companies Use to Manipulate Our Minds and Persuade Us to Buy. Crown. pp. 16–. ISBN 978-0-385-53174-0.
  8. ^ Sumandoyo, Arbi (3 April 2017). "Melawan Penyedotan Mata Air oleh Mayora Group". Tirto. Retrieved 23 February 2020.
  9. ^ Nabhani, Ahmad (8 May 2017). "Roda Ekonomi di Pandeglang Bakal Tumbuh - Pabrik Le Minerale Beroperasi". Harian Ekonomi Neraca. Retrieved 23 February 2020.
  10. ^ Cuizon, Razel V. (30 September 2016). "34 students suffer caffeine overdose in Cebu". SunStar. Retrieved 23 February 2020.

External links


More
Mayora Indah
Categories