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MNC Securities breaks domestic record by opening 44 branches
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MNC Securities president director Susy Meilina (front right) receives an award from Indonesian Museum of Records (Muri) representative Osmar Semesta Susilo, witnessed by MNC Group founder Hary Tanoesoedibjo (second right) and other executives of the company. MNC Securities received the Muri award for being the securities company with the largest number of branches in Indonesia. (JP/Anton Hermansyah)
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NC Securities, which is owned by diversified conglomerate MNC Group, has broken Indonesian records for rapidly opening branches as the company opened 44 branches during 2016.
With the additional 44 branches, MNC Securities currently has 78 branches across Indonesia. In 2017, the company plans to open another 22 branches to reach a target of 100 branches.
“The opening of branches is to increase retail business, for which the transaction portion is currently still around 40 percent, while the remaining 60 percent comes from institutional customers,” president director Susy Meilina said.
"We are spreading our seeds now to catch more retail customers, who are relatively more persistent in times of crisis than institutional customers,” she said during the trade opening at the Indonesia Stock Exchange (IDX) building on Friday.
(Read also: MNC Bank aims for upgrade to upper-mid size by 2019)
She said the cost of opening branches was not high because they were located at the group’s properties, in IDX representative offices and investment galleries in universities.
Currently MNC Securities has adjusted net working capital (MKBD) of Rp 191.04 billion with total daily transactions of Rp 350 billion a day, placing it in 14th place among securities with the biggest transaction values in Indonesia.
Securities is the original business of MNC Group founder Hary Tanoesoedibjo, who started it in 1989. At that time, it was still a one-man company, with Hary saying he did almost everything by himself. "We cannot ignore the securities business, because MNC began there," Hary said.
