Mayora Indah

Overview

PT Mayora Indah Tbk

former name	United Brand (1977–1990)
type	Public
traded as	idx: MYOR
industry	Food Beverage
founded	February 17, 1977
founder	Jogi Hendra Atmadja
hq location city	Jakarta
hq location country	Indonesia
area served	Worldwide
key people	Jogi Hendra Atmadja (President Commissioner) Andre Sukendra Atmadja (President Director)
products	Biscuits · Candies · Wafers · Chocolates · Cereals · Coffee · Milk · Detergent · Instant noodles · Porridge · Tea · Mineral water · Energy drinks
revenue	Rp 30,669 trillion
revenue year	2022
operating income	Rp 2,433 trillion
income year	2022
net income	Rp 2.008 trillion
net income year	2022
assets	Rp 22.276 trillion
assets year	2022
equity	Rp 12.835 trillion
equity year	2022
owners	Unita Branindo (32.93%) Mayora Dhana Utama (26.14%) Jogi Hendra Atmadja (25.24%)
num employees	15,532
num employees year	2022
subsid	PT Sinar Pangan Barat PT Sinar Pangan Timur PT Torabika Eka Semesta Mayora Nederland B.V. Mayora India Pvt. Ltd.
website	https://www.mayora.com/

PT Mayora Indah Tbk (formerly PT United Brand), also known as the Mayora Group or simply called Mayora, is an Indonesian multinational food and beverage company headquartered in Jakarta. It was founded on 17 February 1977 by Jogi Hendra Atmadja. The company is recognized as the world's largest coffee candy manufacturer through the Kopiko brand.

The company has been listed on the Jakarta Stock Exchange (now Indonesia Stock Exchange) since 4 July 1990. PT Unita Branindo holds 32.93% of shares.[1]

History

Mayora's history dates back to 1948, when a family of Chinese immigrants to Indonesia began making biscuits in their home kitchen, with Marie Biscuits as their first product. In 1976, the family moved to Kampung Bali in Jakarta and began selling Roma brand biscuits.

The company was formally established in 1977 as United Brand, opening its first factory in Tangerang, west of the Indonesian capital Jakarta. Kopiko, a coffee-flavored candy, was launched in 1982.[2]

Controversies

Bankers Trust case

During the 1997-98 Asian financial crisis, when the value of the Indonesian rupiah plummeted, Mayora defaulted on payment obligations to Bankers Trust International. BTI had sold derivative trading contracts to Mayora under International Swaps and Derivatives Association Master Agreements (ISDA Agreements), which contained an arbitration clause. Unwilling to pay its obligations, Mayora sued BTI at South Jakarta District Court, arguing that the agreements were similar to gambling and therefore against Indonesian law.[6] BTI took the case to the London Court of International Arbitration (LCIA), which ruled in favor of BTI, but South Jakarta District Court ruled in favor of Mayora. BTI appealed and the Indonesian Supreme Court upheld the ruling in 2000 and again in 2003, leaving BTI with no further legal recourse.[7]

Free candy for pregnant mothers

According to author Martin Lindstrom's book Brandwashed: Tricks Companies Use To Manipulate Our Minds And Persuade Us To Buy, doctors in the Philippines were given Kopiko candies to hand out to pregnant mothers, and the company later introduced a coffee product which tasted like the candy and became popular with children.[8]

Mineral water factory dispute

In 2014, residents of Pandeglang regency in Indonesia's Banten province began staging protests with the aim of expelling PT Tirta Fresindo Jaya, a subsidiary of Mayora Group, which planned to build a Le Minerale bottled water factory in Cadasari subdistrict that would tap groundwater from natural springs in the area. Residents argued that they needed groundwater for their daily supplies and irrigation needs. The protests culminated in February 2017 when the factory site was attacked, delaying construction activities. Protesters claimed that their aspirations had been ignored by local officials and politicians. In response to the initial protests, then-Pandeglang regent Erwin Kurtubi issued a letter in November 2014 to the president director of PT Tirta Fresindo Jaya, requesting that they "stop investment activities." However, the letter had no legal force, and the company's activities continued. After Fresindo drilled and tested groundwater in early 2016, locals complained that their water reservoirs had dwindled and agricultural irrigation was disrupted. Residents also alleged that a community consent letter for the factory contained falsified signatures. Those whose names were collected for signatures reportedly received Rp1 million in cash, with Rp200,000 deducted per person for a mediator. Mayora spokesman Sribugo Suratmo stated that the community's concerns were unreasonable because the factory had obtained all necessary permits from the local government and would not interfere with surface wells.[9] The company also argued the factory would benefit the local economy and attract further investment.[10]

School children caffeine overdose

On September 30, 2016, 34 high school students at Concord Technical Institute in Cebu City in the Philippines were briefly hospitalized for caffeine overdose after they consumed free samples of Kopiko 78°C bottled drink offered to them. Additionally, some students had reportedly consumed more than three or four bottles each. Doctors said children over 12 should only consume up to 70 milligrams of caffeine daily, whereas each bottle of Kopiko 78°C contained 150 milligrams of caffeine. A city councilor commented that the distributor of the free samples may be held liable for giving out coffee to minors.[11]

Mayora Indah

History

Products

Markets

Asia

Middle East

Oceania

Africa

Europe

North America

South America

Controversies

Bankers Trust case

Free candy for pregnant mothers

Mineral water factory dispute

School children caffeine overdose

See also

External links

References