“You can imagine the fortune we made,” said Uncle Willem. Since then, Astra has often been appointed as the government’s partner in providing various development facilities. Astra embarked on another journey, not only as a supplier but also beginning to assemble Chevrolet trucks. Astra then held a license in other vehicle and large equipment agencies, such as Komatsu, Toyota vehicles, Daihatsu, Honda motorcycles, and Xerox copiers. The new business field finally turned into a “money machine” for PT Astra Internasional Inc. Theodore Rachmat, William’s nephew, was named CEO of the Astra Group.
With its revenue reaching US$1.5 billion in 1984, Astra ventured into agribusiness, by establishing a 15,000-hectare coconut and cassava agricultural area in Lampung. The Company’s agribusiness was a government-directed, as agribusiness was aimed at increasing agricultural production and was addressed by a diverse group of Indonesian businessmen.
Apart from Astra’s other enterprises, Astra purchased Summa Handelsbank AG in Deulsdorf, Germany, in the same year. The bank’s management, which had nothing to do with Astra’s core business, was passed to his eldest son, Edward Soeryadjaya, a West German economics graduate.
William held 60 percent of the shares, which were split equally with Edward. Unfortunately, Edward was reckless when doing business: he proved far too generous in providing loans, leaving the bank with a massive debt in 1992, one that had to be paid off.
Finally, William Soeryadjaya was forced to sell all of his ownership stake in PT Astra Internasional to pay off the debt of Bank Summa, owned by his son Edward. Still, the Government of Indonesia decided to liquidate Edward Soeryadjaya’s Bank Summa.
Many speculated that Uncle Willem’s downfall was the result of government intervention to bring him down. However, Uncle Willem respected the system, and regarded the loss as a business consequence. He refused to crumble beneath the weight of rumors and complaints. He genuinely submitted to God’s will and kept moving forward, with hope.
He was only concerned for Astra, hoping the company he founded could continue to operate and support national economic growth, leading to more job possibilities.
He was always dreaming of opening up new employment—a wish and an obsession motivated by compassion for others. “Creating jobs has always been one of my dreams,” he remarked. William passed away on April 2, 2010, at Medistra Hospital in South Jakarta. (*/rp)
