Golden Agri-Resources Acquires 28% Stake in DAAI TV


JANUARY 14, 2015

Jakarta. Golden Agri-Resources, the parent of listed palm oil plantation company Sinar Mas Agro Resources and Technology, acquired on Tuesday a 28.08 percent stake in Duta Anugerah Indah, the local operator of terrestrial television station DAAI TV.

Golden Agri — which is controlled by Eka Tjipta Wijaya, Indonesia’s second-richest man, according to Globe Asia — bought 10,250 shares in Duta Anugerah for Rp 10.25 billion ($814,000), said Rafael Buhay Conception Jr., a Golden Agri director, in a statement to the Singapore stock exchange on Tuesday.

DAAI TV — which is controlled by Buddhist Compassion Relief Tzu Chi Foundation, a non-governmental and humanitarian organization from Taiwan — airs in 70 countries and focuses its broadcast on family drama, news, environment and health issues. It also has programs on personal improvement and spiritual content.

In Indonesia, DAAI TV broadcasts in the country’s capital Jakarta and in Medan, the capital of North Sumatra.

Franky Oesman Widjaja, Eka Tjipta’s son and executive director at Golden Agri, sits as vice chief executive of the Tzu Chi Foundation Indonesia Chapter.

Eka Tjipta joins other Indonesia conglomerates — such as Hary Tanoesoedibjo (MNC Group), Aburizal Bakrie (Visi Media Asia/VIVA), Chairul Tanjung (Trans Corp), Surya Paloh (Media Group), Eddy Kusnadi Sariatmadja (SCTV dan Indosiar), and James T. Riady (BeritaSatu Media Holdings) — that already own television stations across the country.

Investor Daily