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Indonesian conglomerate aims to lead in banking and healthcare

By Karl Cryer
-    Mar 19, 2015
Credit : GMI Post

Backed by nearly three decades in business, Mayapada Group is determined to catapult its fast-growing bank to among the top of the sector in Indonesia and consolidate the reputation of its two international-standard hospitals.

Indonesia’s Mayapada Group wants to be another banking giant in the country and in the rest of Asia. Credit: Flickr Creative Commons

Mayapada Group Deputy Chairman Jonathan Tahir said: “Recently, we invited one of our largest strategic partners from Taiwan. We’re hoping that, with our bank, we can grow together through their expertise and network in Taiwan and in China.”

In January 2015, Taiwan-based financial giant Cathay Life Insurance Co. Ltd. acquired a 40 percent stake in Bank Mayapada for $278 million to expand its reach in East Asia. The medium-sized bank currently has 175 branches across the country and the region, and focuses mainly on retail, corporate, and foreign exchange banking

Founded by Dato Sri Tahir in 1986, the Jakarta-based conglomerate began as a garment and textile manufacturer before it ventured into banking a few years after. Also operating in the healthcare, speciality retail, real estate, and media industries, the family-run conglomerate regards its banking business as its core activity.

Tahir believes that Mayapada Group will grow through more collaborations in its healthcare, retail, IT, and media business as the middle-class grows in Indonesia.

He said: “As you may know, we have a partnership with NUH (National University Hospital in Singapore). We’re trying to explore more partnerships in other aspects, and I think that can only be beneficial.”

Being a pioneer in the healthcare industry in Indonesia, Mayapada Group aims to increase its number of hospitals while maintaining its international standards. With its new hospital in South Jakarta, Mayapada leads the way for Indonesia to provide world-class healthcare.

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