Trans Corpora (IFC-40677)

  • Indonesia
Geographic location where the impacts of the investment may be experienced.
Specific Location
The Project will be located across several cities in Indonesia.
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 1, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 275.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 275.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Corporate Actor Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 7, 2020

Disclosed by Bank Aug 3, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The project funds PT Trans Corpora (“Trans Corp” or “the Company”), a wholly owned subsidiary of CT Corp, which is one of Indonesia’s largest conglomerates and engaged in various sectors including tourism, leisure, retail, property, financial services, transportation, and media.

Trans Corp has three subsidiaries – Trans Lifestyle, Trans Entertainment and Trans Media. Trans Lifestyle has additional subsidiaries key of which is Trans Retail focuses on retail activities and, to a lesser extent, property development and hotels.

IFC’s investment will be used to: (a) expand the retail and tourism (hotels) and related property components and for general corporate purposes corresponding to these activities, and (b) strengthen the Company’s balance sheet through lengthening of the maturities of some of its debt.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

IFC is assisting the Company to arrange the entire debt of US$275 million being raised for the Project. 

IFC’s proposed investment will comprise:

(a) an A loan of up to US$75 million for its own account; and

(b) a mobilization of : 

           (i) a trust loan of up to US$106.25 million from the Hong Kong Monetary Authority / SAFE through the Managed Co-Lending Portfolio Program - "Trust Loans"; 

           (ii) B loans of up to US$125 million. 

The final amounts of the A Loan, Trust Loans and B Loans will be determined among all lenders and the Company so that the aggregate loan amount does not exceed US$275 million.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

The Company earns profits from its retail operations but also from hotels, shopping malls, theme parks and media businesses. Trans Retail is currently operating 110 hypermarkets and supermarkets in 51 cities across the country (some of which under the French Carrefour brand) as well as distribution centres.

The Company is seeking to expand its footprint by opening new modern stores in more cities for the middle-class customers. At the same time, it will expand its wholesale services for small store owners and increase its purchases of local products from many small and medium-sized (“SME”) farmers and suppliers located in these regions. The Company is also investing in new hotels mainly for local and regional tourists.

The Project Sponsor is Mr. Chairul Tanjung who, along with his family, wholly own CT Corp, the parent. Mr. Tanjung, who founded the group in 1987, is a well-known Indonesian businessman.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - CT Corp Parent Company -
- - - - PT.Trans Corpora Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

1/The Project Contact

PT Trans Corpora 
Mr. Ashish Saboo 
Director, Business Development 
+62-21-7917 5533 
Menara Bank Mega, 24th Floor Jl. Kapt. P. Tendean Kav. 12-14 A, Jakarta 12790 

2/ The IFC Contact

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

3/Local Access for Project Documentation

The SII will be disclosed locally at the following address:

CT Corp Head Office

Menara Bank Mega, 24th Floor

Jl. Kapt. P. Tendean Kav. 12-14 A, Jakarta 12790



The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at You can learn more about the CAO and how to file a complaint at

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