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Jakarta Post

A tale of the Tantulars, Rivsi

The Tantular family first entered the banking business when communism was still on the prowl in Indonesia

The Jakarta Post
Mon, November 24, 2008

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A tale of the Tantulars, Rivsi

The Tantular family first entered the banking business when communism was still on the prowl in Indonesia. In 1965, Hashim Tantular formed Bank Central Dagang (BCD), which eventually folded in 1998.

In 1989, Hashim transformed his money changer business Century Intervest Corporation into Bank CIC, which was controlled by Hindarto Tantular and later Robert Tantular.

A Washington University graduate, Robert resigned from CIC's management in 2000 but remained a dominant influence at the bank. He still has a 9 percent stake in Century via PT Century Mega Investindo following the bank's merger and probably also owns public shares in the bank.

Robert, who failed a central bank "fit and proper" test in 1999, was summoned by the Corruption Eradication Commission in 2006 as witness in the Unibank bond fiasco.

Also prominent figures at Bank Century are Rafat Ali Rivsi and Hesham Alwarraq, representing shareholder in the bank First Gulf Asia Holding, formerly Bahama-based Chinkara Capital.

First Gulf had a 65 percent stake in Bank Pikko, a 55 percent stake in Danpac and a 16 percent stake in CIC before the three banks merged in 2004.

Rivsi is a British national holding a bachelor's degree in chemistry from the University of Essex. He is also chairman and CEO of Bermuda-based Tembusu Investment Holding.

First Gulf is also said to have a link with one of the country's most noted clerics, Panji Gumilang, who runs the exclusive Al-Zaitun boarding school in Indramayu, West Java. (dis/hwa)

Century shareholders

Clearstream Banking S.A. Luxembourg* 11.32%

First Gulf Asia Holding Limited 11.23%

PT Century Mega Investindo 9.00%

PT Antaboga Deltasekuritas 7.49%

PT Century Super Investindo 5.64%

Public 55.32%

* Custodian for shareholders Source: Century 2007 annual report

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