38 Fresh products from financial services provider
Sinar Mas Multiartha
COMPANY Sinar Mas Multiartha Tbk PT
BRAND VALUE US $243 million
YEAR ON YEAR CHANGE 50%
YEAR FORMED 1982
Sinar Mas Multiartha is the holding company for financial businesses within Sinar Mas, and its subsidiaries provide expertise to private and corporate customers across a range of investment services, including underwriting, consumer financing, securities administration, securities brokerage, investment management, IT and trading. Insurance is the largest part of its business, but the brand is also well known as a source of consumer credit to buyers of cars and motorcycles. In the past year, new products to launch include Simpel, a student savings product, a corporate credit card product developed with Telesindo Group, a credit scheme for cattle breeders, and, though cooperation with PT Cashlez Worldwide Indonesia (Cashlez) and PT Dimo Pay Indonesia (Dimo Pay), digital payment services. It has also developed a micro-credit program for Indonesian migrant workers abroad. Multiartha’s organization of the most Sharia mutual fund investors launched in one district, in the District of Banyumas, set an Indonesian record. Sinar Mas Multiartha is majority owned by Bank of Singapore Limited, with a small stake held by Credit Suisse AG. The remaining 45 percent of shares is owned by the public and traded on the Indonesia Stock Exchange.