JAKARTA — Conglomerate Sabana Prawirawidjaja has quietly made significant moves in the stock market, acquiring hundreds of millions of ULTJ shares during the ongoing 2025 period. His strategic investments underscore a continued expansion of his already substantial portfolio.
Most recently, Prawirawidjaja was recorded further increasing his stake in PT Ultrajaya Milk Industry & Trading Company Tbk. (ULTJ). This latest acquisition highlights his confidence in the dairy giant’s future performance and long-term value.
PT Kustodian Sentral Efek Indonesia (KSEI) reported that Sabana acquired an additional 120,000 ULTJ shares on August 21, 2025. Following this transaction, his total ownership in the company climbed to an impressive 5.52 billion shares, equivalent to 53.16% of the company’s stock.
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Data compiled by Bisnis indicates that the total number of ULTJ shares held by Sabana has increased by a remarkable 350 million shares within the current period of 2025 alone. This consistent accumulation demonstrates a clear investment strategy.
To put this into perspective, Sabana was recorded holding 5.17 billion ULTJ shares at the close of 2024. The rapid increase in his holdings this year marks a significant bolstering of his control over the company.
Sabana Prawirawidjaja is widely recognized as the pioneer of UHT (Ultra-High Temperature) milk in Indonesia and holds a prominent position among the nation’s wealthiest individuals. Forbes reported his total net worth at US$940 million as of December 2023, reflecting his extensive business success.
The journey of Ultrajaya itself is a testament to Prawirawidjaja’s vision. What began as a modest home industry 52 years ago has blossomed into a corporate powerhouse. In just the first half of this year, Ultrajaya generated billions of rupiah in profit, showcasing its robust financial health and market dominance.
Before his towering business achievements, Prawirawidjaja, born in 1940, pursued an education in Management at Nanyang Technological University in Singapore. His foundational knowledge, coupled with an entrepreneurial spirit, set the stage for his future ventures. In 1958, he joined forces with his father, Ahmad Prawirawidjaja, to establish their first milk company in Bandung.
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In those early days, as a home-based enterprise, milk production faced considerable challenges. The rudimentary processing methods meant that freshly milked products would spoil within hours, leading to significant waste and unsold inventory. This highlighted a critical need for innovation in the dairy industry.
However, through his ingenuity and expertise, Sabana introduced milk processed at ultra-high temperatures (UHT) in 1972. This groundbreaking method allowed milk to last significantly longer without compromising its essential nutritional value. From this pivotal moment, he earned his reputation as the undisputed pioneer of UHT milk in Indonesia.
Sabana’s leadership at Ultrajaya was profound; he was appointed as the company’s head at the remarkably young age of 31. He steadfastly held the top position as President Director until the General Meeting of Shareholders (GMS) decision on June 27, 2019, steering the company through decades of growth and transformation.
Beyond its core UHT milk business, Ultrajaya strategically diversified its portfolio into other beverage sectors. Leveraging advanced packaging technology, the company successfully launched popular products such as Teh Kotak (boxed tea) and Sari Kacang Hijau (mung bean drink). Sabana’s influence also extended to other ventures, including a tenure as President Commissioner at Campina Ice Cream Industry from 1995 to 2017.
Ultra Jaya Milk Industry & Trading Company, Tbk. – TradingView
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Summary
Sabana Prawirawidjaja has significantly increased his stake in PT Ultrajaya Milk Industry & Trading Company Tbk. (ULTJ), continuing a buying spree that extends until August 2025. On August 21, 2025, he acquired an additional 120,000 shares, bringing his total ownership to 5.52 billion shares, or 53.16% of the company. His holdings have increased by 350 million shares in 2025 alone, demonstrating strong confidence in the dairy giant.
Recognized as the pioneer of UHT milk in Indonesia, Sabana’s strategic investments reflect his long-standing vision for Ultrajaya. He introduced UHT processing in 1972, transforming the company from a modest home industry into a corporate powerhouse. Ultrajaya has since diversified its successful beverage portfolio under his influence, cementing his position among the nation’s wealthiest.