By Globe Asia on 11:13 am Jun 01, 2013



John Prasetio,Y.B. Dato’ Sri Mustapa Mohamed, Budi Hartono, Sudhamek

John Prasetio,Y.B. Dato’ Sri Mustapa Mohamed, Budi Hartono, Sudhamek

1. $15.5 billion
Robert Budi Hartono (72) and Michael Hartono (73)
Djarum Grup

The Hartono brothers are back on the top of the GlobeAsia 150 Richest Indonesians List this year primarily due to the sharp rise in the share price of Bank Central Asia over the past 12 months. The bank they acquired in 2001 is now the country’s largest private bank and its share price has surged more than 40% over the past year alone. While cigarettes still make up a significant chunk of their wealth, the Hartonos have been diversifying their business interests into property, electronics and plantations. Through Djarum Foundation, the family is a strong supporter of the arts, education and environmental initiatives.

2. $13.1 billion
Eka Tjipta Widjaja (90)
Sinar Mas, Golden Agri Resources, SMART

Eka enjoys a steady flow of income, led by returns from his businesses in the commodities sector. His Singapore-listed Golden Agri Resources is the world’s second largest palm oil company with total market capitalization of $6.7 billion. It recently announced a plan to invest $1.6 billion in Liberia in West Africa. Eka’s other prize possession, Asia Pulp and Paper, is one of the world’s largest integrated businesses of its type. For the past several years environmentalists have been hounding Eka’s companies over alleged environmental destruction. This year, though, Asia Pulp and Paper pledged to stop clearing forests in China and Indonesia, a move which received cautious backing from WWF. Eka’s less controversial businesses in the property and finance sectors also continue to perform well.

3. $10.1 billion
Anthoni Salim (64)
First Pacific

Last year, Anthoni mourned the passing of his father, Sudono Salim or Liem Sioe Liong, Indonesia’s first great industrialist. Anthoni has been at the helm of the group since the 1998 financial crisis and has restored the Salim Group as one of the most formidable business groups in the country. Through Gallant Venture, he has sought to buy a 52.35% of Indomobil, the country’s second largest carmaker, Salim also owns among the largest land banks in greater Jakarta and Batam as well as a 6% stake in BCA.

4. $6 billion
Susilo Wonowidjojo (56)
Gudang Garam Group

Susilo’s Gudang Garam saw its net income fall 17.8% to Rp4.09 trillion, a result of rising health consciousness among Indonesians. Although cigarettes remain the core business, the family has turned their attention to the palm oil business. Gudang Garam’s Matahari Kahuripan Group has developed into one of Indonesia’s largest palm oil companies and reportedly owns 1.7 million hectares of concession area across Indonesia. Susilo’s Gudang Garam is expected to benefit from the World Trade Organization’s ruling to reopen the US market to clove flavored cigarettes.

5. $3.7 billion
Martua Sitorus (54)
Wilmar International

Together with Singaporean businessman Kuok Khoon Hong, Wilmar founded Singapore-listed Wilmar International in 1991. Wilmar is a leading agribusiness firm with a core business in palm oil, while in more recent years it has set its sights on the sugar business. It already operates five sugar refineries in Australia, New Zealand and Indonesia, and recently acquired a 27.5% stake in Morocco’s sole sugar supplier, Cosumar SA, for $263 million.

6. $2.45 billion
Aburizal Bakrie (65)
Bakrie Group

With the support of his Golkar Party already in the bag for Aburizal’s presidential run, it’s time for the patriarch to win the hearts and minds of the people. It’s not an easy task: the public is constantly reminded of the high profile Lapindo mudflow case and the slow payment of compensation by one of his companies. The Bumi Plc. debacle in London also raised concerns among the public about the tycoon’s past dealings, the debts he used to leverage his businesses, and what the implications might be should he become president. Holding company Bakrie & Brothers has interests in coal, property, energy, infrastructure, palm oil and telecommunications, but assets in many have been sold off to raise cash to keep the jewel of the crown, Bumi Resources, the world’s largest coal miner. The family is still chasing cash to end the London Bumi Plc. deal. A slice of cash would also be needed to finance a presidential campaign.

7. $2.4 billion
Putera Sampoerna (63)
Sampoerna Strategic

Putera has invested in various sectors since setting out on a new course in 2005 when he sold the family cigarette empire PT HM Sampoerna to Phillip Morris for $5.2 billion. Putera’s assets are managed mainly by Sampoerna Strategic, an investment firm with interests in agribusiness, telecommunication, property and plywood. Elder son Michael Sampoerna is president commissioner of Sampoerna Strategic, while daughter Michelle runs philanthropic programs through the Sampoerna Foundation. Putera is a recipient of the US Department of Commerce Peace through Commerce Medal award. His Sampoerna Foundation, a model to many philanthropic organizations in Indonesia, has been consistently providing quality education to foster future Indonesian leaders since its inception in 2001.

8. $2.35 billion
Peter Sondakh (61)
Rajawali Group

Hit hard by the Asian financial crisis in 1998, Peter was forced to watch his assets dwindle away. He is known however as a businessman with a good eye for sound investments and it did not take him long to get back into the top rank of business. He made a killing on an investment in Indonesia’s largest cement maker, state owned PT Semen Gresik Tbk., in 2008 and then a year later sold his PT Bentoel, Indonesia’s fourth largest cigarette-maker, to British American Tobacco. Peter pocketed Rp12 trillion from the transactions and turned his focus to mining, agribusiness and property under holding company Rajawali Corporation. He raised more than Rp500 billion last year from listing Express Transindo, a taxi operator, on the Indonesian Stock Exchange. He is currently expanding into infrastructure.

9. $2.15 billion
Mochtar Riady (85)
Lippo Group

Over the past six decades, industrialist, philanthropist, and scholar Mochtar has continued to reinvent himself and build one of Indonesia’s most global and solid business groups. The pan-Asian group is dominant in property, healthcare, education, retailing, media and financial services. The past year, Lippo has succeeded in achieving multiple major monetization milestones, with the listing of leading department store chain Matahari; Temasek’s investment into Hypermart; and the upcoming IPOs of Siloam Hospitals, Nobu National Bank, and Multipolar Technologies. Lippo’s education foundation manages 52 schools and two universities, including Indonesia’s leading private university. Lippo’s healthcare initiative manages Indonesia’s largest healthcare group, comprising 14 hospitals across the archipelago, including Indonesia’s first and only world-class cancer treatment hospital. He has seen a significant rise in his listed companies’ market capitalization, now in excess of $12 billion.

10. $2.10 billion
Sukanto Tanoto (63)
Royal Golden Eagle

It has not been a particularly good year for Sukanto as global commodity prices have remained depressed. But his sprawling global empire, stretching from Brazil to China, remains profitable. The group’s pulp & paper unit APRIL is one of the world’s largest with its premium brand PaperOne sold in 60 countries. Asian Agri, a palm oil plantation is fighting a tax dispute with the government. The Medan-born entrepreneur is a self-made billionaire, starting as a supplier of spare parts for oil and gas companies before establishing himself as a pioneer in plywood.

11. $2.05 billion
Sri Prakash Lohia (60)

Through his considerable business skills and a demonstrated ability to operate in difficult markets, Sri Prakash Lohia transformed Bangkok-based Indorama Ventures into a global force with a presence in 18 countries. Indorama today is the world’s largest producer of polyester, with an annual production of five million tons, and PET, used to make plastic bottles, controlling one-third of global supply. In the next five years London-based Lohia intends to pump $5 billion into his Indonesian operations, building a new petrochemical plant and a state-of-the-art polyester plant. He is the brother-in-law of Lakshmi Mittal, who sits comfortably on the global list of richest people.

12. $2.05 billion
Chairul Tanjung (51)
CT Corp

When Chairul Tanjung speaks, everyone listens. To identify this GlobeAsia man of the year as merely a successful businessman is an understatement. As the chairman of the National Economic Committee, a presidential advisory board, Chairul is one of the few to enjoy direct access to the president. As his influence is growing questions continue to be asked about possible political ambitions. Back at the office, last year was a busy one for Chairul. He took full control of Carrefour Indonesia for $671 million. Nor is he stopping there. Chairul tabled a bid to become controlling shareholder of Visi Media Asia, a media unit of the Bakrie family, in a transaction that could be valued at up to $1.8 billion. No deal has been done at this stage. Meanwhile the activities of the CT Foundation are centered on providing quality education to eradicate poverty.

13. $2 billion
Theodore P Rachmat (66)
Triputra Group

It has been less than a decade since Teddy Rachmat left his position as the president director of giant Astra International and began to push his Triputra Group to its current position of prominence. Triputra’s interests include palm oil, rubber, coal and manufacturing. Teddy aims to transform his rubber unit PT Kirana Megatara, currently Indonesia’s largest producer of processed rubber, into the biggest in the world. In the palm oil business, his Triputra Agro Persada owns 388,000 hectares of plantations. Underpinning Teddy’s wealth is his 13% holding in PT Adaro Energy, the country’s second-largest coal miner, where he serves as vice president commissioner. Together with long-time business partner Garibaldi Tohir, Teddy founded Surya Eka Perkasa, a manufacturer of by-products from natural gas processing and petroleum refining, a company that made its capital market debut last year.

14. $1.8 billion
William Katuari (62)
Wings Group

Eddy William Katuari’s Wings Group continues to challenge giants like Unilever, Proctor & Gamble and Indofood in the highly competitive fast-moving consumer goods businesses. Backed by partnerships with multinational companies like Thailand’s Siam Cement Group and Japan’s Lion Corporation, Wings Group has a firm foothold in the Indonesian market. In toiletries, Wings provides cheaper products for Indonesian consumers with soap brand Nuvo and Ciptadent toothpaste. The company has eroded Indofood’s dominant position in the instant noodle market with Mie Sedaap, a brand launched in 2003. Wings is also a producer of natural fatty alcohols at Ecogreen Oleochemical, formerly known as Salim Oleochemical, and has 100,000 hectares of palm oil plantation under GAWI group. Recent expansion is in the retail business through the FamilyMart convenience store chain.

15. $1.7 billion
Dato Low Tuck Kwong (64)
Bayan Resources

Starting with construction and engineering companies, Singapore born Low never looked back when he entered the coal business in 1985. Last year was a difficult one for Low, like many businessmen in the mining sector. Net income at his Bayan Resources dropped 72.23% to $54.94 million. Outside the coal business, the entrepreneur has interests in a gas field in East Kalimantan under Provident Production Sharing Company.

16. $1.7 billion
Edwin Soeryadjaya (63)

Edwin has been a familiar face in the Indonesian business elite since the days when his father William Soeryadjaya was building the Astra International empire. Forced to go his own way after his father’s loss of control of the conglomerate, he founded Saratoga Capital with Sandiaga Uno as an investment vehicle. Edwin has steadily expanded his business interests, which now include coal mining, plantations, infrastructure and telecommunication. He is a major shareholder in PT Adaro Indonesia, the country’s second-largest coal miner. Saratoga has been busy making purchases, signing deals or listing its units on the stock market, as well as working on its own plan to go public later this year. Saratoga owns 51% of Mandala Airlines, which recently made a return to the skies. He was named entrepreneur of the year by Ernst and Young in 2010, recognizing his re-emergence as a major force in the business landscape.

17. $1.7 billion
Hary Tanoesoedibjo (48)
MnC Group

Hary has become a figure on the political stage, now leading the campaign for the People’s Conscience Party (Hanura) after a fall-out with Surya Paloh at the National Democratic Party. Hary reached the main stage of Indonesian business from an early start as an investment wizard with his family-owned securities firm Bhakti Securities, now MNC Securities. Through investment firm Bhakti Investama, he has spread his net widely and his portfolio now includes coal, property and oil and gas. He started his empire by buying heavily indebted companies struck down by the 1998 economic crisis. The centerpiece of his business empire is MNC Group, Indonesia’s largest integrated media company. He has set his sights on the banking industry, spending more than $200 billion to buy a 30% interest in mid-sized lender Bumiputera.

18. $1.6 billion

Tahir (61)
Mayapada Banking Group

Tahir started his Mayapada Group as a garment business in 1986. The company has grown into a diversified business empire with stakes in banking, property, hospitals, media and duty-free shops. Private lender Bank Mayapada continues to flourish despite competition from giants like BCA and Bank Mandiri and announced earlier this year that it was looking for a global partner. He is a license holder for LVMH brand duty-free shops and has properties in Jakarta’s business district. Mayapada, together with Crystal Air, created a premium charter airline called My Crystal. As a token of appreciation to his alma mater, Tahir donated $30 million to National University of Singapore (NUS) in 2011. He is the son-in-law of Mochtar Riady, founder and owner of Lippo Group. Mayapada was among the first conglomerates to provide relief for victims of this year’s Jakarta flood, donating Rp7 billion worth of goods.

19. $1.6 billion
Sjamsul Nursalim (71)
Gajah Tunggal Group

Sjamsul and manages one of the largest retail groups in the country, Mitra Adi Perkasa. The group has introduced global brands such as Starbucks, Barbie, Burger King and 100 other brands to the Indonesian consumer. Starbucks founder Howard Schultz made his first trip to Indonesia in March to see for himself the progress his brand has made in the country. MAP plans to double sales over the next three years to $2 billion on the back of a consumption boom. PT Gajah Tunggal remains Southeast Asia’s largest tire manufacturer.

20. $1.4 billion
Djoko Susanto (64)
Sumber Alfaria Trijaya

Djoko’s Sigmantara Alfindo has a 61.52% interest in Sumber Alfaria Trijaya, the operator of the Alfamart minimart chain, Indonesia’s largest. Last year’s net income was Rp481 billion, a 33% increase from a year earlier. The company operates more than 7,000 stores, with 5,000 of them company-owned. It now wants to reduce ownership to at least 40% in order to comply with the recent trade ministry regulation on franchise business. The company has formed a subsidiary, Sumber Indah Lestari, a retailer focusing on healthcare and cosmetics products. Djoko has handed over day-to-day operations to his children with daughter Feny sitting as president director and son Budiyanto as president commissioner. The company is investing in the future by providing assistance to small and medium enterprises.

21. $1.4 billion
Suryadi Darmadi (63)
Duta Palma nusantara Group

Duta has come under the spotlight of the international environment movement, amid widespread public opposition of its operations in Riau, where most of the company’s plantations are located. Locals accuse the company of breaches such as unlicensed operation, tax evasion and indifference to community concerns, with no contribution for development. NGOs like Greenpeace keep the outfit under close scrutiny. In a recent interview with GlobeAsia, Suryadi revealed plans to invest in the downstream sector in order to create quality growth. The company manages a total of 160,000 hectares of palm oil plantations in Sumatra and Kalimantan.

22. $1.38 billion
The Nin King (82)
Manunggal Group

The is known as a smart businessman quick to adapt to new markets and challenges. He was among the largest debtors in the late 90’s monetary crisis but now sees his business interests grow rapidly. Started in 1949 as a textile trading company, Argo Manunggal’s most valuable assets are now in property, with two listed property developer firms: Bekasi Fajar Industrial Estate Tbk. and Alam Sutera Realty Tbk. The Bekasi Fajar Industrial Estate is profiting from strong demand for industrial facilities close to Jakarta. It booked net income of Rp470 billion last year, a 239% increase from 2011’s Rp119 billion. In the residential sector, Alam Sutera, with net income of Rp1.19 trillion in 2012, is among the best-performing developers in the country’s lucrative property sector. The major disappointment for The is the poor performance of his original business vehicle, textile firm PT Argo Pantes, which incurred Rp133 billion in losses last year, extending its period of losses to five straight years.

23. $1.375 billion
Ciputra (82)
Ciputra Group

Ciputra is a legend in the Indonesian property sector and a passionate entrepreneur. His Ciputra Group remains one of the largest property companies in the country and boasts housing projects in the wider Asian region. Assets include integrated townships, housing, apartments, commercial and recreation facilities. The group has three publicly listed property firms: PT Ciputra Development, PT Ciputra Property and PT Ciputra Surya. Overseas, there is Ciputra Hanoi International City, the largest integrated city development in Vietnam. Other projects are in Cambodia and India and more are slated for China. Ciputra has established schools and a university to help produce more entrepreneurs.

24. $1.37 billion
Kartini Muljadi (82) and Handojo Muljadi (48)
Tempo Group

Started in 1953, Kartini Muljadi’s PT Tempo Scan Pacific Tbk. originally traded in pharmaceutical products before commencing its own large-scale commercial production in 1970. The company is now an established player in the over-the-counter medicine market, where it produces popular brands such as cold medicine Bodrex and the Hemaviton energy drink. In the cosmetics market,
it holds the rights to distribute well-known brands including Estee Lauder and Revlon in the country. Kartini stays busy at the respected commercial and corporate law firm Kartini Mulyadi and Rekan, long ago handing over day-to-day operation of Tempo to her son Handjojo, the group’s CEO. Net income was Rp643 billion last year, a 9.9% increase on the previous year. Kartini now devotes most of her energy to creating a second Sumber Waras Hospital, a mental health institution she helped build 50 years ago.

25. $1.3 billion
Trihatma K Haliman (61)
Agung Podomoro Group

Trihatma’s rise to prominence reflects the success of the Agung Podomoro Group, a property developer concentrating on the high-rise apartment sector. Since it went public in 2010, the group has been aggressively buying other companies and investing in new markets. Its latest project is Soho Pancoran, a mixed-use high-rise property designed to create a new urban landscape at an accessible position in South Jakarta. The company’s net income rose 39.7% to Rp811.72 billion last year.



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