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10 INSPIRING WOMEN FOR 2013 Indonesia APRIL 2013 WWW.FORBESINDONESIA.COM VOLUME ISSUE #3 AmAncio ortegA AMANCIO ORTEGA $57 Billion BILLION THE RICHEST PEOPLE IN THE WORLD • $5.4 TRILLION COMBINED WEALTH • 25 INDONESIANS RP 50,000 Leading you to Indonesia For over two decades, Bank Mayapada has proven to be a strong and reputable bank in Indonesia We offer a wide range of financial services to meet our clients’ personalized business needs supported by state of the art IT and knowledgeable staff With over than 170 branches in 19 provinces in Indonesia, Bank Mayapada will continue to serve the ever growing economy in Asia www.bankmayapada.com Mayapada Tower, Ground Floor – 3rd Floor Jend Sudirman Kav.28 Jakarta 12920 – Indonesia Phone : +62 21 5212288, +62 21 5212300 contents — april 2013 volume issue Indonesia p PAGE 24 “When I started the Sintesa group in 1999, I told my father that I was no longer his staff but his partner.” — Shinta Kamdani, Chief Executive Sintesa Group | FACT & COMMENT // Steve Forbes They succeed by meeting your needs 10 | thought leaders // Paul Johnson The war on drugs a defining moment 11 | DELIVERING INFRASTRUCTURE // Raj Kannan Taking the bull by the horns issues & ideas 12 | Soccer Diplomacy Australia’s Intrepid Mines is using soccer diplomacy and other tactics to regain a stake in the Tujuh Bukit gold mine, worth billions By Jeffrey Hutton 16 | Vox Populi Online PoliticaWave’s Sony Subrata and Yose Rizal have tapped social media to make more accurate political predictions by Sonya Angraini 18 | fresh thought // Taufik Darusman Hard truth 19 | reality check // James Kallman Paying for privacy 20 | global viewpoint // Jennie S Bev 2020 megatrends and Indonesia 21 | guest column // Eric Lascelles Looking for trouble in Indonesia inspiring women 23 | 10 inspiring women These 10 women have succeeded in various endeavors, and represent a diversity of backgrounds They show how women can and have a major impact in whatever is their chosen profession or passion COVER Photograph by Dusko Despotovic / Sygma / Corbis | FORBES INDONESIA april 2013 40 | 10 honor roll For good measure, we have included another 10 on our honor roll april 2013 FORBES INDONESIA | contents — april 2013 volume issue PAGE 70 p “Each Bagteria bag has a soul and story behind it I believe that’s why people appreciate it.” — Nancy Goh, Founder bagteria bag billionaires 48 | the top 20 This elite group is worth $714 billion, $80 billion more than last year 52 | indonesia’S RICHEST With 25 billionaires, Indonesia now ranks ahead of Japan in billionaires 54 | FROM OLIGARCH TO PRESIDENT? Mikhail Prokhorov is a tycoon in Russia, Jay-Z’s partner in Brooklyn—and a strong candidate to eventually replace Vladimir Putin in the Kremlin, a prospect the billionaire is turning into his full-time job BY KATYA SOLDAK 60 | dogs bark, But The Caravan Rolls Pham Nhat Vuong’s valuation defies a fiercely difficult property sector in Vietnam BY lan anh nguyen Entrepreneur 64 | Floral Beauty Harijanto Setiawan has successfully transformed flowers into art with extraordinary value By Yessar Rosendar 67 | ceo wisdom // Andrew Tani Dragon boat leader 68 | Tile Time With Arwana Citramulia, Tandean Rustandy created the country’s second largest tile maker by serving smaller cities and rural areas By Sonya Angraini 70 | Intricate Creations Nancy Goh has developed her Bagteria handbags into a global brand By Yessar Rosendar 72 | marketing insights // Hermawan Kartajaya Singkawang: WOW! 73 | legal view // Eddy Leks Balancing franchise growth with aid to SMEs forbes life 74 | Warriors, Horses & Blood On Sumba, the ancient pasola battle still thrives to help secure a good harvest by Muhammad Fadli 78 | the eye // Yessar Rosendar PAGE 68 u “My dream is that in the future, when people talk about ceramic tiles, Arwana is the first name they think of.” —Tandean Rustandy, chief executive PT Arwana Citramulia | FORBES INDONESIA april 2013 april 2013 FORBES INDONESIA | FORBES INDONESIA Indonesia Editorial Department Chief Editorial Advisor Justin Doebele Editor-At-Large Taufik Darusman Managing Editor Ferry Irwanto Senior Writers Ardian Wibisono Writers Ulisari Eslita, Gloria Haraito, Renjani Puspo Sari Reporters Sonya Angraini, Yessar Rosendar Art Director Mirna Lidya Aprilla Photo Editor Ahmad Zamroni Executive Assistant Seli Widiati Business Department Publisher Jusuf Wanandi Associate Publisher Grace Wong Circulation & Subscription Manager Andriansyah Circulation Executive Fitriyah Production Manager Mudafid Riyanto Senior Adv Manager Tanti Jumiati Senior Adv Sales Executive Hilman Ahmad PR & Event Manager Rafki Ismael Executive Assistant Marketing Nancy Heryana Accounting Manager Indrawati Sonjaya, Benny Tjoa Accounting Supervisor Inge Stephanie Accounting Executives Tjhin Anna Administrative Assistant Dahlia Komala Sari PT Wahana Mediatama President Director Millie Stephanie Vice President Director Victoria Tahir President Commissioner Jonathan Tahir Vice President Commissioner Maria Lukito Forbes Media LLC Chairman & Editor-in-Chief Steve Forbes President & CEO Mike Perlis Chief Product Officer Lewis D’Vorkin CEO / Asia William Adamopoulos Editor, Forbes Asia Tim Ferguson april 2013 • Volume Issue FORBES Indonesia is published by PT Wahana Mediatama under a license agreement with Forbes LLC, 60 Fifth Avenue, New York, New York 10011 “FORBES” is a trademark used under license from FORBES LLC â2010 PT Wahana Mediatama ã â2010 FORBES LLC, as to material published in the U.S Edition of FORBES All Rights Reserved ©2009 FORBES LLC, as to material published in the edition of FORBES ASIA All Rights Reserved FORBES INDONESIA is published monthly, 12 times per year Copying for other than personal use or internal reference or of articles or columns not owned by FORBES INDONESIA without written permission of FORBES INDONESIA is expressly prohibited CONTACT INFORMATION Forbes Indonesia: Menara Sudirman 19th Floor Suite 19D, Jl Jendral Sudirman Kav 60, Jakarta 12190 Tel: (021) 522 6828, Fax: (021) 522 7208 Website: www.forbesindonesia.com : Forbes Indonesia Magazine : @forbes_id Subscriber Enquiries: Please contact Circulation Division SMS to 0817 0109 777, email: circulation@forbesindonesia.com Or visit www.forbesindonesia.com to subscribe or advertise Single copy price Rp 50,000, local subscription rate Rp 420,000 + postal fee (Jabodetabek) for 12 issues | FORBES INDONESIA april 2013 SIDELINES O Inspiring Role Models ne of the missions of Forbes Indonesia is to provide role models and, by extension, inspiration, whether one is an aspiring entrepreneur or an established billionaire This issue has not one but two sets of role models to provide inspiration The first is our cover subject of billionaires, the wealthiest role models on the planet They show what can be done—on a grand scale Their stories are varied—these men and women come from a wide variety of backgrounds and experience, demonstrating that the path to great wealth is not a narrow one but one with many avenues of opportunity For a near-perfect example, we have in this issue a profile of the first billionaire in Vietnam, Pham Nhat Vuong of the Vingroup Turning closer to home, what is happening here in Indonesia in the billionaire arena is also inspiring The country can now boast it has 25 billionaires In the Asia-Pacific region, this figure puts Indonesia as the home to the fifth-largest group of billionaires, ahead of much wealthier countries such as Australia, Japan and Singapore The second group in this issue to bring inspiration is our inaugural set of 10 inspiring women, accompanied by an honor roll of another set of 10 women Unlike the billionaires list, these women are not all entrepreneurs Instead the idea was to present a cross section of disciplines, such as politicians, celebrities and athletes By doing this, it shows that inspiration for women can come in many areas of endeavor and that women are achieving success in a variety of fields Entrepreneur Shinta Dhanuwardoyo pioneered the Internet advertising agency Bubu, a sector that normally is dominated by men At one trade show in the early days of her company, a potential customer kept asking to speak to her boss, refusing to believe that a women could hold that position Our private equity investor Veronica Lukito of Ancora notes that companies that include a mix of men and women perform better than those without women Veronica too has succeeded in another male-dominated industry One of the points of presenting this group of 20 women is not to a long list—it is meant to be more of a sample showing the diversity of accomplishment One area of disappointment is that unfortunately these two lists don’t have any area of overlap The 25 Indonesian billionaires don’t include a single woman Indonesia has come a long way, and women are rising in the ranks of accomplished businesspeople, both in stature and net worth Under “lifetime achievement” we include Martha Tilaar, as she is truly a pioneer of women entrepreneurs for the country, starting with one small beauty salon in 1970 Yet this lack on the billionaires list could also be a source of inspiration, for perhaps there is a woman out there who will strive to claim the title to be the first to enter the billionaires club Having a woman billionaire would no doubt inspire others to follow in her footsteps F Justin Doebele Chief Editorial Advisor editor@forbesindonesia.com april 2013 FORBES INDONESIA | FORBES INDONESIA FACT & COMMENT — STEVE FORBES “With all thy getting, get understanding” they succeed by meeting your needs BY STEVE FORBES, EDITOR-IN-CHIEF The impressive increase in the net worth of the world’s billionaires and the fact that there are 200 more of these folks than there were a year ago will have leftists everywhere decrying the growing gap between the haves and the have-nots After all, they’ll howl, why should the ranks and wealth of the wealthy grow while most of the world’s economies are struggling? But don’t blame these rich for the governments’ poor economic policies More to the point, the overwhelming majority of these people have moved ahead through meeting the needs and wants of other people, not through inheritances or crony capitalism Their successes didn’t come at the expense of everyone else Freemarket capitalism is not a zero-sum system In fact, we should take heart from this list It demonstrates that, despite pervasive antigrowth policies almost everywhere, the entrepreneurial spirit is showing surprising resiliency worldwide Amancio Ortega from Spain has displaced Warren Buffett in the No spot by providing low-priced fashions GoPro’s Nicholas Woodman demonstrates that you can take your passion and become rich pursuing it: Who’d have thought that a guy interested in dangerous, high-skill sporting activities would come to be worth $1 billion and not just another bum? Tory Burch was an unknown just a few years ago As was Diesel jeans mogul Renzo Rosso We’ve already seen astonishing rises in the global standard of living since the fall of the Berlin Wall and the abandonment of communism in China Someday the current bout of government economic malpractice will pass, and it will be the conventional wisdom of governments to pursue low-tax and sound-money policies The impressive upward march of humanity will again resume vigorously | FORBES INDONESIA april 2013 A Nobel Man The Daily Show’s Jon Stewart should be awarded a Nobel Prize in economics The Nobel committee wouldn’t even have to issue a new one; it could just revoke the one it awarded to New York Times columnist Paul Krugman in 2008 In January Stewart spoofed the idea of the trillion-dollar platinum coin, which had been floated as a way of getting around the ceiling on the national debt The debt-ceiling crisis will reemerge soon, as will this silly proposal—the notion that the Treasury can mint such a coin and then turn it in to the Federal Reserve for cash to keep the government going Money out of thin air! Why wasn’t this thought of before? As Stewart asked, why not a $20 trillion coin? You can watch his hilarious take at http://www.thedailyshow.com/watch/thujanuary-10-2013/the-trillion-dollar-coin You’d think the coin nostrum was invented as a joke by Saturday Night Live or The Daily Show, but people like Krugman take it oh-so-seriously After all, as Krugman said, “Money is a social contrivance,” something to be played with for our own good by our betters in Washington Krugman is so self-serious that he lashed out at Jon Stewart, calling him lazy and accusing him and his staff of a “lack of professionalism.” Stewart understood the issue all right: It is idiotic and destructive Stewart noted that “we need to take the U.S dollar seriously again.” Amen to that! Perhaps we should draft Jon Stewart to replace Federal Reserve Chairman Ben Bernanke, whose monetary policies are doing immense harm to the U.S and global economies F FORBES INDONESIA Tile Time With Arwana Citramulia, Tandean Rustandy created the country’s second largest tile maker by serving smaller cities and rural areas By Sonya Angraini 68 | FORBES INDONESIA april 2013 PT Arwana Citramulia does one thing and does it well: it produces ceramic tiles Tandean Rustandy founded the company in 1985, and has grown it into the second largest tile maker in the country and the 25th largest in the world Being a bigger global player is one of the Tandean’s goals “It takes time and it will not be easy but it’s not impossible,” says Tandean, 48, who holds the chief executive title For the moment, Arwana distributes 99% of its products in the local market The 1% is exported to emerging markets such as Bangladesh, Cambodia, Pakistan and Sri Lanka Despite his global ambition, Tandean feels Arwana will remain focused on the local market Tiles may not sound exciting but it is a play on Indonesia’s growing consumer market, with Indonesia’s tile consumption about 1.2 square ahmad zamroni / forbes indonesia entrepreneur — tandean rustandy meters per person per year While demand is higher in some countries—Cambodia’s tile consumption is about square meters per person per year—Indonesia has a larger population and thus much more potential Over the last five years, Arwana has posted an average 10% growth in revenue and 20% growth in net profit, and Tandean expects to the same this year Last year, the company hit Rp trillion in revenue The company went public in 2001 and its stock has increased by more than 1,000% in the last five years, some 300% just in 2012 Tandean was nominated last year as one of 10 finalists for the Entrepreneur of the Year award from professional services firm Ernst & Young, after having previously won Indonesian Young Entrepreneur of the Year in 2002 Tandean started the company with two friends, who are Javanese and Arabian Tandean himself is an ethnic Chinese Indonesian The name of Arwana came from the abbreviation of the ethnicity of each founder (Arab, Jawa and China) The other two founders cashed out when the company went GREEN FACTORY Tandean has a major commitment to Corporate Social Responsibility (CSR) and the environment Unlike typical factories, Arwana’s factories have an open design, providing good air circulation for workers, allowing them to enjoy green scenery while working There are two small ponds next to the factory, which is used to collect rainwater to be used as a material for ceramic tile production For its waste management, Arwana crushes its rejected products into a form of sand and combines it with other material to produce new tiles It also conducts regular emission tests so the level of sulfur and other emissions not harm the environment “Implementing green industry is not difficult but we must initiate it,” says Tandean For its CSR commitments, the company has programs to help local communities near its plants, such as providing sewing machines for women, or offering courses on sewing, hair cutting and handicraft using broken tiles “Each time we build a factory, it’s not only about improving the business but also improving the society,” says Tandean Tiles may not sound exciting but it is a play on Indonesia’s growing consumer market public, and Tandean currently owns a 13% stake worth around Rp 540 billion He admits when he first started, he didn’t know much about the tile business Before the three started the company, one of the founders distributed tiles When it became difficult to get supplies, the three decided to form Arwana and make their own tiles With an initial capital of Rp 20 billion, they built Arwana’s first plant in Tangerang “We start selling our products in big cities, but we were kicked out by bigger players in the market,” Tandean recalls Thus he started selling in smaller cities and rural areas, targeting middle and lower price points This strategy turned out to be a blessing in disguise With little competition in this segment, Arwana quickly grew—in 2010 it had 17% of the total market, up from 6% in 2005 The company now distributes its products to 14,000 points of sale and owns 46 major warehouses across the country “We go to the places where people don’t want to go,” says Tandean, who got his MBA from University of Chicago To save costs, Tandean entered into a partnership with publicly listed PT Catur Sentosa Adiprana to distribute Arwana’s tiles Tandean faces several problems One has been shortage of natural gas, which is required to produce the tiles To handle the chronic shortage of gas, Tandean has made Arwana become more efficient in its use of gas “One way to be efficient is to upgrade our technology on a regular basis,” he says Tandean upgraded its technology five years ago, which helped it double its production while using the same amount of gas Arwana’s production capacity is around 43 million square meters last year and it expects to increase it to 52 million square meters this year Mulia Ceramics, the largest in the country, currently produces around 70 million square meters To reach its target, Arwana is building a new plant in Palembang, which will start operation in June this year With the one in Palembang, the company now has four plants, the other three are in Tangerang, Serang and Gresik After a long focus on the middle and lower sectors of the market, Tandean has decided to enter the top end of the market In April last year, the company introduced an entirely new upper-tier brand called UNO, although Tandean insists Arwana will remain the main brand Tandean says Arwana will not lose its focus on tiles “My dream is that in the future, when people talk about ceramic tiles, Arwana is the first name they think of,” says Tandean F april 2013 FORBES INDONESIA | 69 FORBES INDONESIA Intricate Creations Nancy Goh has developed her Bagteria handbags into a global brand By Yessar Rosendar Nancy Goh, 50, long had a passion for classic and antique-looking handbags with intricate embroidery So she decided to make one of her own a decade ago, and showed it to a boutique in Singapore When the boutique ordered several bags, Nancy set up PT Metamorfosa Abadi with around Rp 100 million from her family to buy materials and rent a shop in front of their house in West Jakarta Nancy picked the brandname Bagteria in hopes that the name would be easily remembered and would easily spread like a bacteria With their unique design and material, Nancy’s bags have carved out a niche for themselves in the international fashion arena, as now her bags are sold in many exclusive fashion stores in Asia, Europe, Russia and the U.S Various celebrities have been spotted with Bagteria bags, including Paris Hilton who bought a display bag at a New York Fashion Week event In Indonesia First Lady Ani Yudhoyono is also a Bagteria fan and likes to give the bags as a gift to her guests Her bags also have been featured in major fashion publications such as Vogue, Madame Figaro, and Harper’s Bazaar “Each Bagteria bag has a soul and story behind it I believe that’s why people appreciate it,” Nancy says Frequently the materials used in her bags can be exotic and unusual Once Nancy made a bag using a mammoth tusk, which came from 70 | FORBES INDONESIA april 2013 Siberia (as elephant tusk is illegal, so mammoth tusk was used) She has also experimented with ostrich leather from Africa and silver from craftsmen in Bali and Yogyakarta Nancy also draws her inspirations for design from many sources One of her favorite bags is made mostly from silver with a round shape inspired by a samurai helmet Nancy, who studied fashion at Susan Budiarjo Fashion College, sees her handbags as more than just bags “A good bag should complement you, aside from being practical and useful, you also should be proud carrying it,” Nancy says “I want my bags to be a piece of art, something that someone will display in their homes and even passed down for generations.” She maintains exclusivity by limiting production each year to 399 pieces in any one color in each design, and each one costs between Rp million to Rp million in Indonesia and twice that overseas, and even higher for limited edition bags Nancy could charge more for her bags in Indonesia, but “Each Bagteria bag has a soul and story behind it I believe that’s why people appreciate it.” she wants them to keep them relatively affordable at home Creating a brand is not an easy task Nancy notes that Indonesians have a stereotype that any local product is inferior to an international one, even though her success in international markets proves that her bags are considered as good as anything available overseas Selling her bags first in international markets was a way for Nancy to ensure her success with local customers In fact, Indonesian sales remain relatively tiny, whereas Japan and Europe account for half of her sales She has to face constant challenges such as losing staff to other designers who appreciate their high level of skill (Nancy gives all staff at least three months of training before they can start making bags) As her bags are considered luxury items, sales can rise or fall quickly depending on the overall health of the global economy And customers now have high expectations so she is always on the lookout for inspiration for new designs She frequently travels to keep up with trends “You must not be too afraid as too many restrictions will not produce extraordinary art,” Nancy says After more than a decade in the business, Nancy is starting to slow her pace She no longer attends as many fashion events in places such as Paris, New York or Tokyo She tries to spend more time with her family and is happy to maintain existing clients without worrying too much about getting new ones Last year she closed down her store in Plaza Indonesia, after being there for five years, due to the high cost Today Bagteria bags can only be bought in the Alun-Alun Indonesia store at the Grand Indonesia mall in Jakarta Yet Nancy maintains her passion for Bagteria “I want to continue to make beautiful things that people love, appreciate, and will always enjoy,” Nancy says F ahmad zamroni / forbes indonesia entrepreneur — nancy goh april 2013 FORBES INDONESIA | 71 marketing insights hermawan kartajaya H Singkawang: WOW! ave you ever seen the Cap Go Meh Festival in Singkawang, West Kalimantan? If you have not, I would highly recommend it For Singkawang has a unique celebration, held on the 15th day after the Chinese New Year Recently, 15 ambassadors, along with Hubert Gijzen, the director of UNESCO for Indonesia, attended this event I was there too along with the vice minister for tourism and creative economy, Sapta Nirwandar, and prominent lawyer Todung Mulya Lubis by the invitation of West Kalimantan Vice Governor Christiandy Sanjaya As the chairman of the Wonder of the World (WOW) Foundation, I wanted to see for myself the wonder of Singkawang In the past couple of years, the Foundation has issued WOW certificates at the Marketeers Real WOW Night in December to a number of unique tourist destinations in Indonesia Singkawang is one strong candidate to get the certificate this year, as the city had indeed put an impressive event This year’s Cap Go Meh Festival was marked by the participation of 751 Tatungs, who would sit on chairs made of blades and perform stunts with sharp objects A Tatung is a person who fasts for three days and gets possessed by a good spirit This allows him or her to be pierced with sharp wires without getting wounded One day prior to the event, they had received a blessing at the Tri Dharma Bumi Raya temple The Tatungs would then pray and become unconscious Some shocking events would then occur For example, the rain would suddenly fall for a brief moment after and offers unique culinary delights This year’s Cap Go Meh Festival also marked the opening of the Mimi Land theme park and resort The Tatungs fest is indeed a wonder But what is more wonderful to see, especially for tourists, is the strong atmosphere of inclusivity of Singkawang and Indonesia Along the road from Singkawang to Pontianak, we can see temples and mosques side by side During Chinese New Year, houses are decorated with lanterns and red Although it originated from ornaments Mandarin China, the Tatung festival is songs are heard evsaid to no longer exist there erywhere during this But in Singkawang, it is a well- festive season Banners with Chinese kept tradition that keeps characters can be getting bigger each year seen throughout the parade That is why which the Tatungs would then wake up the West Kalimantan Governor Cornelis MH reminded everyone during Although it is originated from the festival’s opening that the event is China, the Tatung festival is said to no a true symbol of inclusivity longer exist there But in Singkawang, I agree that tourism not only it is a well-kept tradition that keeps improves the regional economy but getting bigger each year The Tatungs also serves as the face of Indonesia’s are not only ethnic Chinese but are inclusivity Singkawang is just one also made up of the Dayak and Malay example Indonesia has more to show, population in Singkawang Tourists such as the Komodo Islands in Flores, come from all over Indonesia and where the majority are Catholics and overseas a few days before Cap Go Raja Ampat, in which most are Meh just to see the event The number of visitors gets bigger each year as well Christians Also don’t forget Bali, which reflects Hindu culture, and the In his speech, Sapta reminded Borobudur Temple, the biggest everyone that creativity and tourism Buddhist temple in the world These are inseparable, and that creativity places exist in a country that is helps boost tourism The Singkawang majority Muslim When I went home Mayor Awang Ishak strongly supports from Singkawang, Todung said to me: the event, which he believes can be “We should have more people come to a great tourist attraction The event the Cap Go Meh Festival so that they draws many to Singkawang, which know the new reality of Indonesia.” F also happens to have good beaches Hermawan Kartajaya is the founder and president of MarkPlus Inc., one of Southeast Asia’s leading marketing and professional services firm In 2003, he was ranked among the “50 Gurus Who Have Shaped The Future of Marketing” by the Chartered Institute of Marketing in the U.K 72 | FORBES INDONESIA april 2013 legal view Eddy Leks Balancing Franchise Growth with Aid to SMEs O n February 11, the Ministry of Trade issued a new regulation to limit the expansion of international restaurant chains, such as McDonalds, KFC and others The regulation stipulates that the number of outlets owned and managed by either a franchisor or franchisee cannot exceed 250 However, if the company already operates 250 outlets, and would like to add more outlets above the 250 limits, the new outlets have to be franchised by way of a joint venture with a small or midsized enterprises (SMEs) The goal of the new regulation on the size of franchise chains is to empower SMEs, promote domestic products and limit franchise control by one entity This new regulation supplements regulation issued last February on the implementation of franchising The new regulation only affects food and beverage outlets The new regulation defines a joint venture arrangement under two categories of investment value If the investment value is less than Rp 10 billion, the investment by the franchisee should be at least 40%; if it is over Rp 10 billion, the investment by the franchisee must be at least 30% The regulation emphasizes the importance of SMEs The government’s intention is clear: it wants to further and support the interest of the SMEs, particularly those outside Jakarta For that purpose one has to appreciate this positive intention as SMEs are the backbone of the Indonesian economy It is obvious that the limitation of 250 outlets would not significantly impact the international chains, as that number is not small However, a chain can still control additional outlets established through a joint venture with them should they fail to fulfill their requirements If this happens, the noble intention of this regulation will not be achieved since the franchise will remain in the hands of large enterprises Another interesting point to note is that the Indonesian Association of Franchise and License (WALI) claims that the new regulation violates Article 35 of the law on micro, small and midsized enterprises Briefly, Article 35 states that a large enterprise is prohibited to own or control micro, small and midsized enterprises as its partner in a joint venture On this issue, WALI plans to file a judicial review against the regulation to the Supreme Court The goal of the new regulation on the size of franchise chains is to empower SMEs, promote domestic products and limit franchise control by one entity equity control up to 70% In other words, although the regulation is meant to help SMEs, it still gives control to international chains As SMEs may only have a minority stake, they may be only passive investors and not be involved in dayto-day management This means the SME partner may not gain much know-how in the franchise business Even though the regulation requires a franchisor to prioritize SMEs, a franchisor has the right to reject The judicial review and the downside of this regulation notwithstanding, the limitation on food and beverage franchises is a good idea No party should hold a monopoly on the franchise business in Indonesia However, the government would need to supervise the implementation of this regulation to ensure that it is effective Franchisors and franchisees are smart, they may find ways to get around these official rules The government has to make sure that this will not happen F Eddie Leks is the managing director of Leks & Co, a multi-services law firm based in Jakarta april 2013 FORBES INDONESIA | 73 FORBES INDONESIA FORBES LIFE — pasola festival Warriors, Horses & Blood On Sumba, the ancient pasola battle still thrives to help secure a good harvest Photography & text by Muhammad Fadli 74 | FORBES INDONESIA april 2013 A warrior prepares to throw his spear april 2013 FORBES INDONESIA | 75 FORBES INDONESIA FORBES LIFE — pasola festival FROM TOP CLOCKWISE: Two warriors galloping across the pasola field; Crowds cheering on the battling warriors; Families reunite during the pasola period; A man stands beside a tombstone after lighting candles for his dead relatives; Pasola warrior Soleman Ndara Pico is famed for his agility and accuracy; A pasola warrior, with an eye injured in a previous battle 76 | FORBES INDONESIA april 2013 S umba is a place that still maintains its ancient traditions Sumbanese men refuse to leave home without a machete hanging on their ikat; chewing betel nut is the thing that cheers the people the most; and the marapu religion still finds its place very much in the Sumbanese heart despite being registered mostly as Christian The way the Sumbanese fertilize their land seems out of place too It is through one of the most extravagant and bloodiest festivals in Asia that notoriously came to be known as the pasola Held annually within February and March, pasola presents two battling sides of horsemen galloping at full speed throwing spears at each other The day when the pasola about to commence is the most anticipated time for the Sumbanese The schools usually will be suspended for a few days so the children can appreciate their own culture Families will visit the village of their origin to pay homage to dead relatives, while pigs, chickens, and dogs are slaughtered to feed them all On the final day, dressed in their best, thousands pack the edge of a field to cheer on the warriors Pasola poses a real danger to its participants Although death is a rarity nowadays, thanks to the introduction of blunt spears in the early 1980s, fatal injuries still can happen However, rather than viewed as a bad occurrence, the Sumbanese believe any bloodshed will guarantee a good harvest Thus, there will be no revenge between the participants after the pasola ends Borrowing what Lawrence Blair once wrote in his book “Ring of Fire,” pasola probably is one of the few ancient festivals where ones can witness a glimpse of our earliest beginnings and the origin of war, where the warrior still looks his opponent in the eyes F april 2013 FORBES INDONESIA | 77 THE EYE By yessar rosendar Powerhouse Royce Rolls-Royce has just introduced its most powerful model, the Wraith, which was launched last month in Geneva The two-door fourseater has a fastback design and a power plant capable of producing 624 horsepower, the biggest ever for a Rolls Married to an eight-speed automatic ZF transmission, V12 engine powers the car from to 60 mph in 4.4 seconds, almost a second quicker than the Ghost The car also marks the debut of a Satellite Aided Transmission, a technology that uses GPS mapping data to ensure that the correct gear is always preselected for the road terrain ahead The car now also features voice-activated commands, negating the need for manual input from the navigation menu 78 | FORBES INDONESIA april 2013 Renowned Touch Soon there will be a fusion of world class design with the exotic landscape of Bali at The Stairs Villa Hotel, designed by the renowned French designer Philippe Starck and located in the Petitenget neighborhood of Seminyak, Bali In keeping with its name, one of the hotel’s main features is a monolithic 65-foot wide stairway The Stairs is the first-ever villa hotel property by Starck in Asia The project features 12 private villas with floor-to-roof signature glass facades by internationally acclaimed artists JonOne Villas are available for sale The property is scheduled to be completed by the end of next year Horological Tribute Audemars Piguet pays tribute to a motor racing legend with the Royal Oak Offshore Chronograph Michael Schumacher The time piece features a 44 mm case, with design codes drawn from the world of racing For instance, the anthracite grey dial, decorated with the Royal Oak Offshore’s trademark pattern, is subtly marked at the circumference of the tachymetre scale between the 12 and one positions with two blue and five red stars symbolizing Schumacher’s record seven championship victories, two driving for Benetton and five driving for Ferrari Powered by 365-part, self-winding calibre 3126/3840 that has 22 carat gold oscillating weight The most rare will be the platinum version that will be produced in a 100 pieces and will feature blue chronograph counters and a gray colored rubber strap New Experience Luxury handset maker Vertu has just launched the Vertu Ti, a handset that uses the popular Android 4.0 operating system, giving you a chance to use Instagram to share pictures taken from its eight-megapixel camera The brand now has a contemporary smartphone experience, as a 1.7 GHz processor powers a snappy response from its 3.7 inch sapphire screen The handset can be operated by one hand but its screen is the largest in the brand’s lineup The handset has a memory of 64 GB for convenient media storage Its dual stereo speakers are tuned in cooperation with Bang & Olufsen for superb quality and clarity The top of the line model is the Black PVD Titanium Red Gold Mixed Metal version, whose case made from high-grade titanium that is twice as strong as the regular titanium used in the other Ti models For this version, the titanium case is coated with PVD for more protection, while all the bolts for the handset are made from red gold Authentic Grill Jakarta finally has a robatayaki restaurant with the opening of Takumi at the newly opened Senayan Nasional golf club It serves an authentic, centuriesold, northern Japanese style of cooking Robata is a way of roasting food over hot charcoal on sand-pit Designed by a Japanese architect, the restaurant uses the soft effects of wood to create the ambiance typical of northern Japanese architecture Diners can choose to partake in the lively atmosphere at the robata and sushi counters or have more privacy at the individual tables The fish is cooked by a Japanese chef and is imported directly from Tsukiji market, Tokyo’s main fish market Apart from the food the restaurant’s bar offers premium sakes from Japan If you’d like an item or service covered by Eye, please email editor@forbesindonesia.com Price: Rp 258 million april 2013 FORBES INDONESIA | 79 THOUGHTS FINAL THOUGHT When anyone has enough money not to work, it’s usually because he does —Malcolm Forbes “Building on the expertise FORBES has developed in identifying the 400 richest people in the U.S., we launched last year an even more ambitious effort: to search out the world’s great fortunes In this issue we have refined our list of billionaires and billionaire families We found 192 of them The research was sometimes frustrating but never dull Tatiana Pouschine is a veteran of the chase Says she of her research in Italy: ‘For most Italians doing business is just another opportunity to have fun If the writer does not stimulate them with new ideas, no information will be forthcoming One banker offered to provide some documents but failed to deliver After several weeks I telephoned him with the slight exaggeration that my editor was threatening me with death The banker drove up in his Volvo to deliver them personally, just in time To Italians, crises are interesting, mundane business is not.’ ” —From the July 25, 1988 issue of FORBES Thoughts from billionaires past and present Set your goals high; make friends with different kinds of people; enjoy simple pleasures Stand on high ground; sit on level ground; walk on expansive ground Happiest is a man who has his vocation as a hobby I’m not in business to make money for the other guy I’m in business to make money for myself —sheldon adelson Have a vision and the money will come To stabilize society, pachinkos contribute much They really soothe people’s anxiety Power, money, that’s just the road to respect After all, money disappears, friends die, and you die, but your reputation remains —Rubens Ometto —kenkichi nakajima —Thor Bjorgolfsson —Li Ka-shing I don’t play golf or all those things people normally for business I parties That’s where I bring people in, showcase ideas and, in the end, deals —murray Edwards Earn enough money so you can afford to waste time —kiyoshi sagawa —guy laliberte Greek shipowners like to boast, “I bought ships at the bottom of the market, and now they’re worth ten times as much.” It goes back to the days of Onassis and Niarchos competing with each other over who had the biggest fleet, the biggest yacht and the most famous girlfriend —Stelios Haji-Ioannou 80 | FORBES INDONESIA april 2013 One of the things that drives me is the excitement that I could fail What better buzz can you get? —Calvin Ayre ... have to be sure I have a business to run.” F april 2013 FORBES INDONESIA | 13 14 | FORBES INDONESIA april 2013 april 2013 FORBES INDONESIA | 15 FORBES INDONESIA issues & ideas — SOCIAL MEDIA Sony... —Tandean Rustandy, chief executive PT Arwana Citramulia | FORBES INDONESIA april 2013 april 2013 FORBES INDONESIA | FORBES INDONESIA Indonesia Editorial Department Chief Editorial Advisor Justin... editor@forbesindonesia.com april 2013 FORBES INDONESIA | FORBES INDONESIA FACT & COMMENT — STEVE FORBES “With all thy getting, get understanding” they succeed by meeting your needs BY STEVE FORBES,