Three years ago, businessman Kentjana Widjaja, through Quattro Inti Investama, was among investors competing to acquire Berau Coal from Risjad family and Boy Thohir (shareholder of Adaro). We all know he lost in the race to Bakrie Group-led consortium. Very few reports about Mr Kentjana’s ventures since then.
On Monday, January 30, 2012, however, Hilton Worldwide announced that it has signed a management agreement with PT Nurtirta Nusa Lestari to bring the first Double Tree by Hilton property to Indonesia. Scheduled to open in 2014, the 261-room DoubleTree by Hilton Jakarta-Diponegoro is located in the Jl Pegangsaan Timur, Central Jakarta and within walking distance from Cikini train station.
Mr Kentjana Widjaja is director of PT Nurtirta Nusa Lestari. He also also known as owner of the company, which secured the 2.4 hectares of land from University of Indonesia. Under an agreement with the university, Nurtirta is allowed to build and operate a hotel with Rp260 billion investment with lease period of 27 years. Some activists criticized the agreement, where University of Indonesia gets Rp15 billion of upfront payment plus Rp600 million of revenue per annum for 20 years.
Mr Kentjana is also owner of 5.38% shares of PT Bhuwanatala Indah Permai (BIPP) Tbk, a property developer, co-owned with PT Bhakti Karya Indah Permai and Victoria Group (Suzanna Tanojo).
Mr Kentjana’s Widjaja Group is partner of Avilla Prima and Dian Istana Group in the development of Marvell City superblock in Surabaya, East Java with almost US$100 million of investment. Also in the property sector, Mr Kentjana is partner of PT Suryainti Permata (SIIP) Tbk in PT Duta Windumas Mitraloka.
Kentjana was listed as president commissioner of PT Ricobana (Jemmy Sugiarto is CEO), partner of PT Kawei Sejahtera Mining in the exploitation of nickel ore in Raja Ampat, Papua.
Kentjana is still a minority partner of ICBC in PT Bank ICBC Indonesia, one of the fastest growing banks in Indonesia with targeted assets of US$2 billion this year.
Kentjana Widjaja’s PT Intidana Wijaya is partner of PT Cikarang Listrindo (Sutanto Joso/Udinda Group) and PT Remaja Bangun Kencana (Rabana Group) in the tender for Suoh Sekincau geothermal project in Lampung. This consortium, however, lost in the race to Chevron Geothermal.
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