The story
Founded by Dato Sri Tahir in 1986.1
Mayapada Group first operation was said to have been started in the 1980s, while Tahir started his first business venture by becoming a distributor of Suzuki cars in Indonesia in which ended in failure. After failure in car distribution, Tahir shifted his business focus to textile industry and founded PT Mayatexdian Industry with financial aid from his father-in-law Mochtar Riady who's a founder of Lippo Group. After its founding in 1987, Mayatexdian become one of the largest textile players in the country which has exported its products to United States, European Union, and Japan. Due to the need of efficiency, Mayatexdian merged 3 other textile companies that are also owned by Tahir all located in Jakarta. In 1990s, Tahir handed his textile business to other businessman Robby Tjahjadi to focus in another business venture.
After the October 1988 decree that liberalized banking sector in Indonesia, like other conglomerates, Tahir entered the banking industry by launching his own bank, Bank Mayapada in 1990. In 1997, Bank Mayapada made an initial public offering to the Jakarta Stock Exchange and at the same year became one of very few banks that were unaffected by the 1997 Asian financial crisis.
From Wikipedia’s article on Mayapada, shared under CC BY-SA 4.0.3