A Bold New Future

We talk about Indonesia’s new boating era with Ivano Poma and Carlo Raineri, the founding team behind Tenggara Marine, the new dealer for the Ferretti Group in the archipelago.

It’s an exciting time for yachting in Southeast Asia, and all eyes are particularly on Indonesia, where eased regulations and an aspirational population herald a new era for yachting for the 17,000 island-strong nation. To meet Indonesia’s growing interest in yachting, successful entrepreneur Ivano Poma, as chairman and CEO, and yachting veteran Carlo Raineri, as general manager, have joined forces to establish Tenggara, the new dealership for the Ferretti Group in Indonesia.

What drew you to the yachting industry and to establish Tenggara Marine?

IVANO: Entrepreneurship essentially; you scan the market constantly, analyse and inevitably evaluate if the new venture triggers your passion. I grew up in Italy, and spending summers on the Riviera, I became a keen sailor, participating in regattas both in the Mediterranean and the Atlantic. Already then, the Riva Aquarama was an incomparable icon, sticking to everyone’s imagination with that sexy irresistible mahogany silhouette.

Why the Ferretti Group?

IVANO: After visiting most of the shipyards in Italy, attending all the boat shows, meeting the dealers, studying the competition and listening to the management presentations, I am convinced that the Ferretti Group is a winning family with an inspiring leadership, and is innovative, ambitious, and bold, matching my values and approach to business. When visiting the Riva shipyard in Sarnico, I had goosebumps and a sense of déjà vu that brought me back to my childhood. Ferretti embodies the best Italian yachting tradition and the future of the industry, from its storied history, and an incomparable range of products, to state-of-the-art facilities and Italian excellence in craftsmanship. Being Italian also certainly helps to be in the market, as words flow from the heart.

A yacht industry veteran, what inspired the move to Indonesia to become Tenggara Marine’s General Manager?

CARLO: Several reasons brought me on this path. My entire career has focused on the industry, starting in Italy and expanding through Europe and Asia. After 10 years in Hong Kong as GM with Ferretti Group’s local dealer, I was ready for new adventures. Indonesia was intriguing: a new market to develop from scratch, with plenty of opportunities and not only in sales. Having an Indonesian wife just made the decision even more natural. In February 2023, I met Ivano, who was in conversation with the Ferretti Group for the exclusive dealership in the country, and here we are, 16 months later.

Tell us about the potential for the Indonesian market: how does it differ from more established markets in the region and what are the biggest hurdles?

IVANO: Indonesia will be among the four countries to contribute the most to the world’s economic growth in the next five years after China, India and the US. The momentum, however, in business, makes the difference, and Indonesia is what got my entrepreneurial mind going. The country is virtually an unexplored market, largely deregulated, with a desire to upgrade lifestyle, with plenty of new money and an optimism towards the future. We can see the development of a taste for the refined pleasures of life, where appreciation for Italian quality, design, technology and innovation are not only recognised but valued. Naturally, there are hurdles.

The Indonesian market differs vastly from the Chinese or Singaporean markets because it is still in its early stages and lacking in terms of infrastructure. Marina developments and shipyards will be essential to grow the industry and are among the key areas to improve and support the market’s growth. Besides a few commercial shipyards in Jakarta, Surabaya and Batam, there are no dedicated facilities to offer ad-hoc services for luxury yachts, including handling fibreglass, paint, woodwork, antifouling, mechanical repairs and refitting.

The timing seems right as the government will also be actively involved in building and growing the industry. I’m honestly not worried about the cultural gap and lack of experience in building specific infrastructure as in today’s world skillsets have become commodities to bridge gaps. I’ve seen it in China in the last three decades and also in Indonesia – the cooperation between the government and the private sector will be the catalyst for development and expansion.

Which brands do you think will appeal most to would-be owners in Indonesia as well as its peripheral markets?

CARLO: We expect the Ferretti Yachts between 60 and 100 feet, as well as Riva with its flybridge, especially the new entry-level Diva 82, to be the market favourites. Within the Ferretti Yachts line, we feel the new INFYNITO range will have a lot of appeal with its design and technical innovations together with special attention to sustainability. Its range in particular offers 300 sqm of living space and a very unique way to maximise social time on the bow. The option of solar panels and power banks will also bring a total of 7.3kW battery charge for over nine hours of air-conditioning without having the nuisance of a running generator. An incredible range of 1200/1400 nm at 10 knots completes the proposition. In addition, a selection of sustainable and innovative materials is used throughout the interior as are nontoxic paints.

Compared to the traditional Phinisi boats, modern yachts are bridging the gap with respect to avoiding rolling, thanks to the use of gyroscope technology; safety and fuel consumption per mile; enhanced material technology, and consequently, lighter weights. The latest addition from Riva, the fully electric EL-Iseo, brings a new wave of innovation combined with the tradition of 180 years of history.

For those attracted to speed, Pershing sports yachts don’t just sail, they fly over the water and will be a favourite for thrill seekers who cannot compromise on elegance, luxury and technology.

On interior design, Ferretti Group finds itself at the forefront with sophisticated details, as well as offering state-of-the-art Italian design, partnering with Italy’s top brands, such as Poltrona Frau, Minotti, Ernestomeda and many others. Interiors are built to match owners’ personal requirements, settings are harmoniously beautiful, the ambience is tailor-made and special care is placed on texture and materials like wood, marble and natural fibres to create welcoming interiors. No wonder the ad reads “Just like home”.

What’s your vision for Tenggara and the Ferretti Group’s brands in the Indonesian market in the coming years?

IVANO: Ferretti Group brings to Indonesia over 180 years of history, and its range of products has no comparison in the world. Tenggara’s aim is to anchor its activities to the market without leaving stones unturned, from brokerage to charter, from after-sales to asset and shipyard management.

How established are the Ferretti Group’s brands in Indonesia and how will you increase awareness?

CARLO: There is already some yachting culture on our brands. We now have the opportunity to introduce a very large and renewed range of products, thanks to the substantial investment of the Group in existing lines and acquisitions. Developing our customer’s specific brand awareness to Riva, Ferretti Yachts, Pershing, Wally, Itama, CRN and Custom Line will represent our biggest task, while outlining each different brand’s DNA, technology and design.

We have seen an increase in capital moving from Hong Kong, a traditionally stout yacht market, to Singapore and Indonesia – how does this factor into plans for Tenggara?

IVANO: The outflow of venture capital from Hong Kong is no surprise as its powerful resources have contributed in the past to helping reinvent many of the hot spots of the region, starting from destinations in Thailand to the many new and upcoming shores. Indonesia, in terms of natural resources, has really a lot to offer, and Hong Kong investors will not miss the opportunity. The regulatory efforts by the government will help support the industry and will create space for segments not yet developed, such as charters for faster and safer pleasure boats, while enhancing the local skills to manage modern vessels.

The growing appetite from Hong Kong and China for real estate investment is gaining momentum, primarily given the significant yield differential and the fact that Indonesia is not highly leveraged and therefore not affected by the global interest rate spike.

Furthermore, the relationship between real estate and pleasure boats is rooted in the fact that boats are extensions of residential developments, especially in countries with vast, beautiful shorelines like Indonesia.

Original Article at ASIA PACIFIC BOATING