In a previous post, we mentioned the two Indonesia Champions which were felicitated at the inaugural ASEAN Marketing Summit – held earlier this month in Jakarta. The two winners were Polytron – an indigenous electronics manufacturer and Telkom – the largest telecom operator and a state-owned enterprise in Indonesia.
The other two Indonesia Champions – companies deemed well positioned to sustain and even grow in the impending ASEAN Economic Community (AEC) – are Bank Rakyat Indonesia (BRI), another state-owned enterprise and Astra Management Development Institute (AMDI).
BRI is a major banking player in Indonesia, most renowned for its micro finance, which has brought it global fame and also made one of the most profitable banks in the world. BRI has adopted innovative means to reach out to the rural customer, employing ‘mobile banks’ and ‘boat banks’ and now, in order to improve the efficiency of its communication infrastructure, the bank becomes the world’s first to launch its very own satellite.
With the onset of AEC, according to experts, banking players in the region can expect to see greater harmony in the rules and regulations governing banks and creation of a common system for payments, settlements. While that would level the playing field, BRI’s inherent strength in microfinance business can come handy for it to penetrate the regional rural markets, with large unbanked population. The bank has also benefited from SMB portfolio, which is also likely to be advanced with AEC as a greater competition would likely create a more thriving environment for SMBs, which account for 96% of all enterprises in ASEAN.
AMDI is a human resource development institute operated by Astra International, an Indonesian conglomerate with business in automotive, financial, heavy equipment, mining, infrastructure and IT sectors. AMDI has a core focus on transforming Astra into a leading talent and knowledge enterprises. AMDI works with several institutions in Indonesia and Asia Pacific to nurture leaders for a business world that is becoming increasingly competitive.