Who Owns PT. Map Boga Adiperkasa Company?

Who Owns PT. Map Boga Adiperkasa Company?

Understanding a company's ownership is key to grasping its strategic direction and market influence. PT Map Boga Adiperkasa Tbk (MAPB), a major Indonesian food and beverage retailer, became publicly traded in May 2017. This IPO raised IDR 37.25 billion, approximately USD 2.5 million at the time, significantly altering its shareholder landscape.

Founded in 2013 and rebranded in 2016, PT Map Boga Adiperkasa Tbk operates as a holding company for numerous international F&B brands in Indonesia. Its portfolio includes well-known names like Starbucks, Pizza Marzano, and Subway, aiming to deliver premium dining experiences across the archipelago.

As of late 2024, PT Map Boga Adiperkasa Tbk manages over 800 stores in 58 cities, employing around 7,074 individuals. The company's growth trajectory and market position are closely tied to its ownership structure, which has evolved since its inception. Examining its founding stakes, key investors, and public shareholders provides insight into its operational dynamics and future strategies, including analyses like the PT. Map Boga Adiperkasa BCG Matrix.

PT Map Boga Adiperkasa Tbk was established in 2013, initially as PT Creasi Aksesoris Indonesia, and later rebranded in March 2016. Its corporate lineage traces back to PT Mitra Adiperkasa Tbk (MAP), a publicly listed entity since 2004, suggesting its foundational ownership was an internal strategic initiative within the larger MAP Group. This move aimed to expand the group's footprint in Indonesia's food and beverage retail sector by leveraging established international brands.

Company Incorporation

PT Map Boga Adiperkasa Tbk was incorporated in 2013. It was initially established under the name PT Creasi Aksesoris Indonesia.

Name Change

The company officially changed its name to PT Map Boga Adiperkasa Tbk in March 2016. This rebranding marked a significant step in its corporate identity.

Parent Company Linkage

PT Map Boga Adiperkasa Tbk operates as a subsidiary of PT Mitra Adiperkasa Tbk (MAP). MAP itself was incorporated in 1995 and went public in November 2004.

Founding Context

The establishment of PT Map Boga Adiperkasa Tbk was likely an internal strategic move within the MAP Group. This indicates a focus on expanding the group's presence in the food and beverage retail market.

Founder Details

Specific details regarding the individual founders, their backgrounds, and the initial equity distribution are not readily available. The ownership structure was likely an internal allocation within the parent company.

Strategic Vision

The founders' vision, within the MAP Group framework, was to grow the company's presence in Indonesia's retail food and beverage sector. This involved partnering with and operating established international brands.

The early ownership of PT Map Boga Adiperkasa Tbk was intrinsically linked to its parent company, PT Mitra Adiperkasa Tbk (MAP). As a subsidiary, its initial capital and strategic direction were guided by the broader goals of the MAP Group, which had a well-established presence in Indonesian retail. While the specific individuals who initiated PT Map Boga Adiperkasa Tbk are not detailed, the corporate structure suggests that ownership was an internal allocation rather than a venture funded by external parties at its inception. This approach aligns with the MAP Group's strategy to diversify and expand its portfolio into the food and beverage segment, aiming to replicate its success in other retail categories. Understanding the Mission, Vision & Core Values of PT. Map Boga Adiperkasa provides further context into the strategic intent behind its formation and early ownership structure.

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The ownership structure of PT Map Boga Adiperkasa Tbk has undergone notable changes, especially following its Initial Public Offering (IPO) on May 26, 2017, which raised IDR 37.25 billion. This event was a significant turning point in its shareholder composition.

As of 2024, PT Mitra Adiperkasa Tbk (MAP) is the primary owner of PT Map Boga Adiperkasa Tbk, holding approximately 71.95% of the shares. GA Robusta F&B Company PTE. LTD. holds a substantial 29.14%, while public shareholders account for 7.91%. This contrasts with 2023 figures, where MAP's stake was 79%, GA Robusta F&B Company PTE. LTD.'s was 19%, and public ownership was 2%. These shifts indicate a slight reduction in PT Mitra Adiperkasa Tbk's direct ownership and an increase in holdings by GA Robusta F&B Company PTE. LTD. and the public. The parent company, PT Mitra Adiperkasa Tbk, has its own ownership structure, with PT Satya Mulia Gema Gemilang owning 51% and the public holding 49% as of 2024. This layered ownership means PT Satya Mulia Gema Gemilang indirectly influences PT Map Boga Adiperkasa Tbk's operations through its majority stake in MAP. The close alignment with the MAP Group's strategy is evident, as MAP is a leading lifestyle retailer in Indonesia, operating over 3,700 stores across 80 cities by the end of 2024. Detailed information on these ownership dynamics can be found in PT Map Boga Adiperkasa Tbk's financial reports, including their 2024 annual report and Q1 2025 disclosures, which offer insights into the Marketing Strategy of PT. Map Boga Adiperkasa and its corporate governance.

Key Stakeholders in PT Map Boga Adiperkasa Tbk

Understanding who owns PT Map Boga Adiperkasa Tbk is crucial for assessing its strategic direction and governance. The company's ownership structure has evolved since its IPO.

• PT Mitra Adiperkasa Tbk (MAP) is the majority shareholder.
• GA Robusta F&B Company PTE. LTD. is another significant stakeholder.
• Public shareholders also hold a portion of the company's shares.
• PT Satya Mulia Gema Gemilang holds indirect control through its stake in MAP.

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The Board of Directors and Board of Commissioners for PT Map Boga Adiperkasa Tbk are integral to its corporate governance. As of May 22, 2024, Anthony Valentine Mc Evoy leads as President Director, taking over from Anthony Cottan. The Board of Commissioners includes Virendra Sharma as President Commissioner, with Susiana Latif and Handaka Santosa serving as Commissioners. Victor Taslim and Sandeep Naik are the Independent Commissioners, with Victor Setiawan Taslim replacing Alok Chandra Misra in 2025.

The company's governance framework is structured according to Law No. 40 of 2007, covering key bodies like the General Meeting of Shareholders, Board of Directors, Board of Commissioners, and specialized committees. The Audit Committee, chaired by Independent Commissioner Victor Setiawan Taslim, includes Wahyu Septiana and Imam Sugiarto as members as of July 24, 2025. Dona Indrawati is a member of the Nomination and Remuneration Committee, appointed by a Board of Commissioners Decree dated October 16, 2024.

Understanding Voting Power and Ownership

PT Mitra Adiperkasa Tbk holds a significant majority of 71.95% of PT Map Boga Adiperkasa Tbk as of 2024, indicating substantial voting power. This control is further solidified by key individuals holding dual roles within the broader group. Virendra Prakash Sharma, President Commissioner of PT Map Boga Adiperkasa Tbk, also serves as Vice President Director of PT Mitra Adiperkasa Tbk since 2004 and President Commissioner of PT Map Aktif Adiperkasa Tbk since 2018. Similarly, Handaka Santosa, a Commissioner at PT Map Boga Adiperkasa Tbk, has been a Director at PT Mitra Adiperkasa Tbk since 2018. These connections suggest a strong alignment with the parent company's strategic direction and operational control. Understanding these relationships is key to grasping the Revenue Streams & Business Model of PT. Map Boga Adiperkasa.

• PT Mitra Adiperkasa Tbk is the majority shareholder with 71.95% ownership.
• Key board members hold concurrent positions within the parent company.
• This structure implies strong control and alignment with the parent group.
• No recent proxy battles or activist investor campaigns have been noted.

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In recent years, PT Map Boga Adiperkasa Tbk has navigated a challenging financial landscape, impacting its ownership dynamics. The company experienced a significant net loss in 2024, a trend that continued into the first quarter of 2025, with sales also declining. Despite these financial headwinds, the core ownership structure has remained largely consistent.

The financial performance of PT Map Boga Adiperkasa Tbk has seen a notable downturn over the past few years. For the full year ended December 31, 2024, the company reported a net loss of IDR 146 billion, a stark contrast to the net income of IDR 105 billion recorded in the preceding year. This decline was largely driven by a 19% decrease in net revenue, with external factors such as boycotts impacting sales throughout 2024. The first quarter of 2025 continued this trend, with a net loss of IDR 53.37 billion and sales falling by 8.6% to IDR 719.61 billion. By June 2025, the company's losses had further increased by 60% to IDR 80.2 billion compared to the same period in 2024, with revenue experiencing a 6.17% decline to IDR 1.52 trillion. The removal of a key brand from a boycott list in July 2024 offers a potential positive outlook for future performance.

Majority Shareholder

PT Mitra Adiperkasa Tbk (MAP) remains the primary majority shareholder, holding a substantial 71.95% stake as of 2024. This indicates that the ultimate beneficial owner of Map Boga Adiperkasa is closely tied to the broader MAP Group.

Significant Stakeholder

GA Robusta F&B Company PTE. LTD. holds a significant minority interest, with its shareholding at 29.14% in 2024. This suggests a substantial foreign investment in the company's ownership structure.

Public Float

The public ownership of PT Map Boga Adiperkasa Tbk stands at 7.91% as of 2024. This portion of the company is available for trading on the stock exchange, offering opportunities for other investors.

Management and Board Changes

Recent leadership adjustments include Anthony Valentine Mc Evoy taking over as President Director in May 2024 and Victor Setiawan Taslim joining as Independent Commissioner in 2025. These changes reflect ongoing strategic realignments within the company's operational framework.

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