Sona Topas Tourism Industry Tbk (“Company”) was incorporated in 1978 as PT. Sona Tour. Initially, the Company focused on providing domestic and international travel related services.
During the early to mid 1990s, the Indonesian tourism industry witnessed spectacular growth rates. This condition led to a change in the Company’s business strategy. To meet the shopping needs of international tourists, the Company expanded the scope of its operations to include duty-free shopping. The duty-free business is carried on through two subsidiaries, PT. IntiDufreePromosindo (IDP) and PT. Arthamulia Indah (AMI). These two subsidiaries obtain support from Duty Free Shoppers (DFS), which is a subsidiary of a world-class luxury goods producer, Louis Vuitton Moet & Hennessey (LVMH). DFS itself is the leading network of duty-free shops in the world in 15 countries.
At present, these two subsidiaries operate duty-free stores in Bali, Jakarta and Medan. Due to the success of these two subsidiaries for the past few years, the Company is now better known as a leading duty-free shop operator in Indonesia rather than as one of the travel agents in the country. In line with its overall business strategy, the Company will direct its efforts and resources to intensively develop and pursue its duty-free business while maintaining its presence in the travel services segment.
The Company formally listed its shares on the Indonesia Stock Exchange on 21 July 1992 after it made its Initial Public Offering of 11,500,000 shares. At present, 331,200,000 of the Company’s shares are traded on the Indonesia Stock Exchange.