List of Indonesia’s 4 Largest Expeditionary Conglomerates, Tajir Twisted!

Jakarta, CNBC Indonesia – Courier delivery services or freight forwarders are one of the sectors with high growth driven by the increasing number of online shopping transactions in the country.

This promising business potential makes many people compete to provide the best and comprehensive service in order to secure market share in the largest economy in Southeast Asia. A number of companies whose businesses are quite dependent are involved in securing the value chain by purchasing shares in shipping companies.

Even the increasingly crowded market is able to make one of the shipping companies a unicorn, or a start-up company with a valuation of up to US$ 1 billion.

The following is a list of conglomerates that do business in the shipping service sector.

1. Jet Lee

The former CEO of Oppo Indonesia decided to leave his relatively comfortable job to establish J&T Express. In addition to Jet Lee, Tony Chen as the founder of Oppo also invested Rp 400 billion for J&T Express at the beginning of the operational period.

The owner of J&T Express revealed that the origin of the name J&T itself can be interpreted as Jet & Tony.

Since its founding in 2015, J&T Express has grown to become one of the main leaders in the Indonesian shipping market with delivery coverage throughout Indonesia.

Data provider company crunchbase said J&T had received a total funding of US$ 4.7 billion or equivalent to Rp. 68.15 trillion (assuming an exchange rate of Rp. 14,500/US$) in four funding rounds.

The company is also known to have 7 investors, including Singapore endowment manager Temasek and Chinese tech giant Tencent who entered J&T through the latest funding round.

The funding round puts J&T’s valuation at US$ 20 billion (Rp 290 trillion), according to sources Bloomberg who knows about this problem.

If the company is able to increase its valuation and Jet Lee maintains his share ownership in the company, then he has the potential to become one of Indonesia’s new tycoons after the J&T IPO.

Apart from Indonesia, J&T currently operates in many countries including China, Vietnam, Singapore and has begun to expand into the Middle East market, namely in the United Arab Emirates and Saudi Arabia.

2. Rusdi Kirana

Rusdi Kirana is a well-known transportation tycoon in Indonesia. Rusdi is the founder and owner of Lion Air, a low-cost airline that is responsible for the easy access to mobilization of Indonesian citizens by air.

With a large market share and serving travel routes to remote destinations, Rusdi and the management of Lion Air seize the opportunity for business expansion, namely freight forwarding and delivery services.

Lion Parcel (PT Lion Express) is a logistics company owned by Rusdi that was established on February 14, 2013 and serves first, middle, and last mile for both domestic and international shipments.

The company’s official website notes that Lion Parcel is supported by more than 7,000 agents, 15,000 delivery couriers, and 3,000 fleets. Not only that, the company also claims that the Lion Parcel delivery network currently covers 98% of sub-districts in 34 provinces in Indonesia.

The last time on the Forbes RI list of the richest people in 2019, the wealth of the Rusdi Kirana family was estimated at US$ 835 million (Rp 12.11 trillion).