Jakarta, CNBC Indonesia– Recently, the capital market world was shocked by one name, namely Otto Toto Sugiri. The man who was born on September 23, 1953 has gone viral because the stock price of the issuer owned by Otto flew very high.
Just note that the shares of PT DCI Indonesia Tbk (DCII) which he owns have flown 11.964% since they first took the 2020 floor, while other issuers belonging to Otto PT Indointernet Tbk (EDGE) have also shot up 409% since the first IPO.
However, it turns out that not many investors know Otto, even though it turns out that this man born in Bandung is an elder in the technology sector in Indonesia who has been around in the technology sector since 1989 and became the originator of various historical companies.
Otto was the founder of the Sigma Cipta Caraka data center company where the company was developing software to be used by businesses such as banks to simplify business operations.
In fact, its clients do not only come from within the country but also from abroad so that when the 1998 monetary crisis struck and other companies went out of business, Sigma was able to survive because it had sufficient reserves of US dollars.
In the midst of his busy life at Sigma, Otto even had the opportunity to establish the first internet service provider company in Indonesia, namely Indonet in 1995 before finally taking the floor with the issuer code EDGE and then being sold to Digital Edge Limited company from Hong Kong where the man graduated RWTH Aachen German University this earned almost IDR 1 trillion from this sale.
It was only in 2007 that Otto finally parted ways with the company that made his name because the government through Telkom Indonesia wanted to develop the technology sector in the country so that it acquired Sigma and turned it into Telkom Sigma.
The government’s seriousness in developing the technology sector is what is said to have finally melted Otto’s heart to release his company to the second largest State-Owned Enterprise (BUMN) in Indonesia.
After selling Sigma, Otto re-founded and funded a technology company, namely the company data center tier 4 The first in Indonesia with a capital of US$ 200 million named DCI Indonesia which eventually enriched Otto trillions after being bought up by Anthony Salim.
The DCII IPO prospectus mentions the product of the company’s founder, Toto Sugiri, one of the data center figures and technology companies in the country.
He was born in 1953, an Indonesian citizen, serves as the President Director of DCII.
He obtained a Master’s degree in computer engineering from RWTH Aachen German University, Germany in 1980. He started his career as IT General Manager of PT Bank Bali in 1983.
Then served as Director of PT Sigma Cipta Caraka from 1989 to 2010. He was the founder of PT Indointernet Tbk (EDGE) and Bali Camp (under PT Sigma Cipta Caraka). He joined as Commissioner of DCII in 2012 and served as President Director of DCII in 2016 until now.
So what is the valuation of the shares in DCII?
As of May, the latest report says Otto still holds 712,784,905 or 29.9%. With an IPO price of IDR 420, the initial valuation of the money was only IDR 299 billion. After DCII’s shares were at the level of Rp 50,250, Otto’s valuation shot to Rp 36 trillion, equivalent to US$ 2.48 billion (exchange rate of Rp 14,500, meaning that the amount was Rp 35.70 trillion.
This has not been added with the sale of its shares of 102,270,449 to Salim.
When compared to the Forbes Magazine’s 2020 list of Indonesia’s richest people, with this much wealth, the 68-year-old German graduate will be ranked 12th, ahead of Martua Sitorus, an oil palm tycoon with a fortune of US$ 2 billion.
In addition to DCII, Toto also has a significant stake in Indointernet (EDGE).
However, Toto’s total wealth from EDGE is not as large as that of DCII, considering that EDGE’s market capitalization is only one tenth of DCII’s.
Toto’s wealth from EDGE is estimated at Rp 2 trillion, equivalent to US$ 138.43 million, in the form of ownership of 16.56% EDGE shares which have a market capitalization of more than Rp 12 trillion.
CNBC INDONESIA RESEARCH TEAM
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