JULY 2019 FORBES INDONESIA | 29time being an entrepreneur as it allows him to cre-
ate a good network of friends, help others through
employment, and explore opportunities that are in
themselves extremely rewarding.
“In a way the adrenaline of being an entrepre-
neur is similar to driving a supercar,” Says Stanley,
who is a renowned car collector. He is chairman
of the Bentley Drivers Club Indonesia and Rolls-
Royce Owners’ Club Indonesia.
Currently, Asco group’s biggest revenue con-
tributor is its automotive business. Asco Automo-
tive recorded slightly over Rp 1 trillion of revenue
last year. Asco Automotive has 20 dealerships and
four sales points nationwide, which sell brands
like Daihatsu, Isuzu, Peugeot, and UD Trucks.
Of the four brands, Daihatsu and Isuzu are the
backbone of the business. But the group has also
expanded beyond the automotive industry as it
invest in the Palma Group that holds a license for
30,000 hectares of land in Gorontalo, Sulawesi.
So far, the group has planted 5,000 hectares and
invested Rp 400 billion. Stanley also partnered
with Teddy in a mining operation that has four
coalmining concessions in Buntok, Central Kali-
mantan. The concessions have a total estimated
reserve of 40 million tons of coal and the joint
venture has invested around $90 million in the
business. Stanley has also expanded into the prop-
erty business by building the Capital Place office
block and Four Seasons Hotel in Jakarta. In the
property business Stanley partners with tycoon
Peter Sondakh who owns the Rajawali group.
Capital Place has been sold to global invest-
ment firm GIC and the Four Seasons Hotel has a
healthy 60% occupancy rate with much sought-
after F&B and functions space.Stanley Setia Atmadja and the Board of Directors of PT Mandiri Utama Finance