BMCs-Best Execs-r2:AMM grid in qxp 12/24/09 9:42 AM Page 49
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materialsinIndonesia,andyetthecountry’slargestcementproducerhas BESTEXECUTIVE
managedtothrive. AgusMartowardojo,chiefexecutive,BankMandiri
EvenasmostofSemenGresik’srivalswereexperiencingsharpfallsin
demand,itmanagedtosellalmost13milliontonnesofcementinthefirst
ninemonthsof2009,upfrom12.4milliontonnesoverthesameperiod Anastutebanker,AgusMartowardojohaslongheldareputationforturn-
lastyear. ingailingbusinessesaround,andeachyearhistenureatBankMandiri
Profitsduringtheperiodalsojumpedmorethan18%toreachRp2.4 addspolishtothisbelief.
trillion,ashigherpricescompensatedforthedropindemand. WhenMartowardojotookoverasMandiri’schiefexecutivein2003,the
AnalystsbelievethatSemenGresik’sabilitytooutperformitsindustry bank’sfinancialperformancewasontheslideandnon-performingloans
peersduringtheglobalfinancialcrisisisproofofitsstrongerbrand (NPLs)wereontherise.Hestoppedtherot,yetcouldhavebeenforgiven
power,whichoffersitamajoradvantagetoincreasecapacityandgain forfeelingdéjàvuthisyearwhentheglobalfinancialcrisisaffectedpeo-
evenmoremarketsharein2010andbeyond. ple’sabilitytorepayloans,hittingtheregion’slenders.
Thecompanyalreadyholdsa45%shareofthemarket,producing Mandiriwasnotfullyspared,withits(NPL)ratioincreasingto1.46%in
around18milliontonnesofcementonanannualbasis. thefirstquarterthisyear.Buttheraftofcarefulinternalmeasuresthat
SemenGresikisacompanythatisconsciousofitsreputationamong Martowardojohasimplementedensuredthattheriseinbaddebtwascon-
investorsandthewiderpublic.Apartfromannouncingthatitwouldpay tained.
shareholdersaninterimdividendofRp58pershareinDecember,the Evenbetter,MandiribroughttheNPLratiobackdownto0.85%andthe
companywasalsoapplaudedforitsdecisiontodonateRp1billiontohelp bank’sprofitsforthefirstthreequartersoftheyearrose17%toRp4.62tril-
theearthquakevictimsinWestSumatraearlierthisyear. lion.Mandiri’sCEOhasmanagedtoturnthecountry’slargestbankaround
SemenGresik’scorporateandsocialresponsibilitypoliciessetitapart notjustonce,buttwice.
fromrivals,withthecompanyregularlyawardingeducationalscholar- Martowardojohasalsobeencreditedwithchangingthebank’sculture,
shipstodisadvantagedstudentsaswellasimplementingprogrammes aswellasforcingittomoderniseandbecomemoreadaptable.
thatpromoteenvironmentalsustainability. OneexampleisBankMandiri’sembraceoftechnology.Asmuchas80%
Theoutlookforthecementindustryasawholelooksoptimisticfor ofMandiri’sbankingtransactionsarenowconductedelectronicallyandthe
2010,asgrowthconsumptionandinfrastructureinIndonesiacontinueto bankhas1.2millioninternetusersaswellas5.5millionuserswhosub-
driveitseconomy. scribetoitsSMStextmessagingservice.Asaresultitsfee-basedincome
“Constructioncompaniesandthecementindustrystandtobenefit rose28%toRp4trillioninthefirstninemonthsof2009.
themostfromtheexpectedinfrastructuredevelopmentofIndonesia,” “Mandiriwasatypicalstatebankwithlotsofbureaucracyandrigid
saidoneheadofresearchinJakarta.“WehavehighhopesforSemen policies,”saidaJakarta-basedanalyst.“Martowardojohascompletely
Gresiktosignificantlyincreaseitscapacityin2010.” changedtheculturetobecomemoreflexibleandhehasimprovedthe
imageofMandiriinthepubliceye.Itisnowoneofthepreferredlendersfor
mostIndonesians.”
LARGE-CAPCORPORATEOFTHEYEAR
UnileverIndonesia
JAPAN
UnileverIndonesiagainedAsiamoney’sgongasthebestlarge-capcompa- SMALL-CAPCORPORATEOFTHEYEAR
nyinthecountrylastyearbecauseofitscreativityandabilitytocapitalise Capcom
onitsdominanceinthedomesticconsumermarket.Itretainstheaward
thisyearforthepragmatismithasshowninitsresponsetotheglobaleco-
nomicslowdown. OneindustryinwhichJapanleadstheworldiscomputergames.Capcomis
Comparedwithmanyofitsexport-orientatedneighbours,Indonesia’s attheforefrontofthatbusiness.
economyhasnotbeenasaffectedbythecrisisoverthepastyear.Afterall, Unsurprisinglytheglobaleconomicdownturnwasbadnewsforthe
domesticdemandcontributestwo-thirdsofthecountry’sGDP. gamingarena,butthecompanyhasweatheredthestormrelativelywell,
However,consumershavecutbacktheirspendingevenso.Unilever OneTokyo-basedanalystsaid:“Capcom’smanagementcomeupwith
respondedbyincreasingvalueformoneyinitsproductsandbranching gameseriesthatoffermultiplesequels,ensuringthatpeoplefollowthe
outintoawidersegmentofsociety,manyofwhomstillliveinabject gamesagainandagain.Thatmakesiteasiertorecoverdevelopmentcosts,
poverty. whileitofferstheirearningsmorestabilityinavolatilemarket.”
OneexamplewasUnilever’sdecisiontostartsellingdeodorant Thesegamesfrequentlyendupspawningnumeroustitlesthatsellfor
sachetswhichcostjustRp1,500,significantlylessthanthefullsprayor manyyears.ItsStreetFighterandResidentEvilfranchiseshavebeengoing
roll-oncansandwhichcanbeeasilysoldbyroadsidestallstolow-income strongforover10years.Buildinglong-lastingbrandshelpswhenitcomes
consumers. tomarketing,whileitalsooffersanaturalaudiencefortheirgames.
Consideringthatdeodorantisstillviewedasmoreofaluxuryproduct Since2008,Capcomhasalsoinsistedonproducingmulti-platform
inIndonesia,themovemayyetprovetobeamasterstrokeasUnilever gamesinsteadofcreatinggamesforjustoneconsolemaker.Itmakessense
bidstobringdeodoranttothemasses. asitmaximisesthepotentialaudience.
Thecompanyhasreapedthebenefitsofshiftingitsfocusfrompremi- Tobackupitsstrategy,Capcomcreatedamultiplatformgamedevelop-
umproductstocheapergoodsthatoffermassappeal.Netincomeat mentenginelastyearcalledMTFramework.Thesoftwareallowsforrapid
UnileverbetweenJanuaryandSeptemberthisyearrose11.3%toRp2.28 gamesadaptabilitytonewconsoles,loweringcostsandthetimerequired
trillionandthecompanyisontrackforaveryprofitableyear.It’sjust tore-developgamesforotherconsoles.
rewardfortheinnovationandcreativityithasshownduringthepast ThesuccessoftheseplanswererevealedwhenCapcomannouncedthat
year. itsnetsalesrose24.5%year-on-yearbetweenJulyandSeptemberto¥28.9
“Justbecauseacompanyislarge,itdoesn’tmeanithastobeinflexi- billion(US$326.3million),whilenetprofitsoaredto¥2.97billion,a58.4%
ble,”saidoneanalystinJakarta.“Unilever’stacticsandstrategyduring year-on-yearrise.
thecrisishasbeensurprising,butalsorefreshing.Thefactthatitiswilling Thecompanysaiditsfiguresbenefitedfromariseingamessales,in
totrynewthingsprovesthecompanyisrobustenoughtobesuccessfulin additiontoexistinghigh-sellerssuchasResidentEvil5,forboththe
thegoodtimesaswellasthebad.” PlayStation3andXbox360.
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