Chander Vinod Laroya
Founder & Chairman
Founder & Chairman
As Chairman of Akraya as well as Vice President Commissioner of ESSA, Vinod Laroya’s experience and tenacity continue to create Indonesia’s leading companies. Vinod Laroya’s goals have been deeply rooted in his steadfast support of Indonesia and a deep rooted desire to give back to his community.
He founded Akraya in 2004, after a famed career helming Indorama for almost three decades. Within a short period of time and under his leadership, Akraya has blossomed into a large investment company with several projects (more on projects section), the largest being ESSA. Today, ESSA is one of Indonesia’s leading companies, having recently been named by FORBES as one of the country’s Top 50 Listed Companies in 2022. The company has won many leading awards for its environmental compliance and safety record.
Prior to founding Akraya in 2004, Mr. Laroya was CEO and Director of Indorama Synthetics Tbk. for 28 years. He led the operational and financial turnaround of Indorama in the early 1980s by expanding the existing spun yarns business. In 1995, Mr. Laroya established the first continuous PET resin plant in the ASEAN region, with Nestle and Pepsi as major customers. At the height of the Southeast Asian Currency Crisis in 1998, he set up a state-of-the-art polyester thread manufacturing unit exclusively for the largest thread producer in the world, Coats Plc. At Indorama, Mr. Laroya created a distribution and marketing network spanning 65 countries and helmed the company through several precarious economic and political crises to emerge as one of Indonesia’s strongest blue-chip companies.
Vinod Laroya has an MBA from BITS Pilani, India. He is an avid audiophile and enjoys mentoring young entrepreneurs.
As Director at Akraya, President Commissioner of PAU and Commissioner at EII (both ESSA companies), Rahul helms the vision and effectiveness that drives all Akraya investments. With over 35 years of experience in setting up manufacturing projects, innovative branding, acquisitions and management turnarounds, Rahul has proven his leadership in several industries.
Prior to joining Akraya, he was CEO of Shanfari Readymix & Crushers LLC in Muscat, Oman. At Shanfari, Rahul recorded the company’s first net profit in 3 years by increasing production 32% without fresh capital. Prior to Shanfari, as CEO he led the expansion and turnaround of ISIN Lanka Pvt. Ltd., Sri Lanka. Rahul then moved to Indorama Synthetics Tbk., Indonesia, as CEO – Spun Yarns Business. Here, Rahul pioneered the branding and distribution of Organic Cotton worldwide. As a prominent member of the Organic Cotton community, he has been the Honorary Speaker in over 6 Global Conferences. In his first industry stint, Rahul led the turnaround of an automotive tube business at Trambak Rubber Industries Limited in Nashik, India as its CEO.
His drive and commitment to create the best environment for each investee company remains remarkable, as does his need to share his experiences with fellow industry participants as well as young leaders.
Rahul is a Certified Chartered Accountant. He is an avid movie buff and enjoys listening to music, especially on his well curated Hi-fi equipment. Rahul is also a keen squash player and believes in staying fit.
As Director at Akraya as well as President Director & CEO of ESSA, Kanishk has spearheaded ESSA’s journey from the beginning. He has built the company ground up including construction on site and remains the chief architect of its operations and growth. At ESSA, he has led business development for the group and also spearheaded Investor Relations when ESSA listed in 2012. Aside from leading PAU’s drive towards future clean energy, Kanishk remains committed to exploring environmentally sustainable ventures that add value to Indonesia’s industrial growth.
Prior to joining Akraya, Kanishk has experienced Investment Banking at UBS, Indonesia and at Panalassa – Farallon Capital Management’s Indonesia arm.
Kanishk has a BSc in business from Carnegie Mellon University where he majored in Finance and Entrepreneurship. He is a former Indonesian racing driver and describes himself as a “car guy.” He is passionate about watches, enjoys good food, and is dedicated to spending quality time with his young family.
Bhavna is Director at Akraya and manages the capital strategy & policy of Akraya as well as its enterprises. She most recently co-led PAU’s USD495 million long-term loan refinancing in 2021. She is leading the company’s Investor Relations efforts while continuing to evaluate future growth opportunities, including potential M&A.
She has over 25 years of financial experience in the US and Asia. At IFC (World Bank) she financially restructured private debt transactions at IFC investee companies through the Asian Crisis within the SEA region (Indonesia, Vietnam, and Thailand). She has managed public debt capital raising & equity transactions as Lead Indonesia & India Analyst at Stark Investments and during her tenure in Investment Banking at Banc of America Securities & Morgan Stanley.
She is an active investor who serves on the advisory boards of WaterBridge Ventures, an India-based Series-A focused tech fund, and the Singapore American School (SAS) advisory committee.
Bhavna is a member of the Singapore Institute of Directors (SID). She holds an MBA from the Ross School of Business – University of Michigan, Ann Arbor and a BSc in Business from Babson College where she majored in Finance & Entrepreneurship. She is an ardent lover of music, enjoys global affairs and mentoring young talent.
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Founder & Chairman
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Get to know the Team in Akraya
As Akraya’s business manager, Ruhul works extensively with Akraya’s Business Development group in examining both operation and financial feasibility of all new projects. He is a key member of technical teams that worked on feasibility studies and project bids, including the bids for East and Central Java geothermal power and LPG expansion projects. He led the EII analysis of the LPG shortage in Indonesia, which resulted in the expansion of the project. He also prepared the financial analysis that enabled the IFC’s funding of PAU and continues to assist the financial team opportunistically.
He joined Akraya in 2008, not long after it was founded and has conducted extensive strategic research and financial projections on all projects.
Ruhul graduated with a Bachelor’s degree from the National University of Singapore, a Master’s degree in Econometrics and Operations Research, and an International Business (Finance) from Maastricht University.
Ruhul is the heart of the firm with his sense of humor and love of sports. He loves good food, travel and spending time with his young family.
Heni has been an integral member of the Akraya team since 2008, not long after Akraya was founded. As the finance manager, Heni manages the company’s accounting activities, planning budgets, monitoring, and cash flow management. She manages data and document preparation work for Akraya portfolio projects such as bid proposals as well as other regulatory requirements.
Prior to Akraya, Heni has six years of experience as a Deputy Manager at Indorama Synthetics under her belt. She managed financial statements, reporting to MIS, Bapepam, and other parties. She was the primary point of contact for internal and external auditors.
Heni graduated from University of Diponegoro with a Bachelor’s degree of Science in Economics with a specialty in Accounting, followed by a Master’s degree in Management Program with a specialization in Financial Management from University of Indonesia.
She has recently developed a love for driving, enjoys good food and is a dedicated mother to her young family.