1. Eka Tjipta Widjaya, 89
Sinar Mas Group
Palm plantaions, pulp & paper, property, finance, mining, telecommunications
$12.5 billion
For the second year running, Eka Tjipta Widjaya tops the GlobeAsia Rich list. Although now inactive in business, his vast fortune continues to grow, led by returns from his business 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. Eka’s other prize possession, Asia Pulp and Paper, is one of the world’s largest integrated businesses of its type. Although the group has been targetted by environmental groups, it has vigorously denied allegations of environmental degradation. Eka’sless controversial businesses in the property and finance sectors also continue to perform well. He raised $239 million from listing his coal unit Golden Energy Mines last year.
2. Robert Hartono, 71 and Michael Hartono, 72
Djarum Group
Cigarettes, banking, agribusiness, property, electronics, IT
$11.8 billion
R Budi Hartono and his brother Michael Bambang Hartono have been a dominant force in Indonesian business for many years. Starting with cigarette- maker Djarum, founded by their father in 1951, the brothers have ventured into new lines of business including palm oil at Hartono Plantation Indonesia. They are active in the property sector and their electronics business produces local brand Polytron.Theirprimeassetisthe controlling share in Bank Central Asia, the country’s largest private lender, whose profit grew 20% to Rp10.2 trillion last year. Djarum’s Global Digital Prima Ventures has made a reported Rp1 billion investment in Kaskus, Indonesia’s largest online forum, while the Djarum Foundation is a strong supporter of the arts, education and is particularly well known for its support of badminton.
$11.8 billion
R Budi Hartono and his brother Michael Bambang Hartono have been a dominant force in Indonesian business for many years. Starting with cigarette- maker Djarum, founded by their father in 1951, the brothers have ventured into new lines of business including palm oil at Hartono Plantation Indonesia. They are active in the property sector and their electronics business produces local brand Polytron.Theirprimeassetisthe controlling share in Bank Central Asia, the country’s largest private lender, whose profit grew 20% to Rp10.2 trillion last year. Djarum’s Global Digital Prima Ventures has made a reported Rp1 billion investment in Kaskus, Indonesia’s largest online forum, while the Djarum Foundation is a strong supporter of the arts, education and is particularly well known for its support of badminton.
3. Anthony Salim, 63
Salim Group
Foods, Automotive, Agribusiness
$8.5 billion
Anthony has transformed his food company PT Indofood Sukses Makmur Tbk. into a national champion with a global presence. Indofood’s Indomie is probably the world’s most recognized instant noodle brand. Indofood’s net income surged 4.2% in 2011 to Rp3.08 trillion, with its agribusiness unit contributing 24% and outstripping growth in other divisions by adding 32.7% duringtheyear.Thecompany will more than triple its capital expenditure this year to Rp6.4 trillion ($698 million), with a full 50% to go to new planting, maintenance and milling capacity at the agribusiness unit, operated by Indofood Agri Resources Ltd, PT PP London Sumatera Indonesia Tbk. (LSIP) and PT Salim Ivomas Pratama Tbk., which went public last year and raised Rp3.4 trillion. Anthony also owns 18% of PT Indomobil Sukses Internasional Tbk., a fast-growing car manufacturer and distributor which reported Rp970 billion in net income last year. Anthony, through his Hong Kong-based First Pacific, recently was reported to have made a $700 million offer for the Philippines’ ailing flag carrier Philippines Airline.
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| ILK Bisnis - Orang Terkaya Di Indonesia |
4. Martua Sitorus, 52
Wilmar International Holding
CPO, agribusiness, food trading
$4.2 billion
Together with Singaporean businessman Kuok Khoon Hoon, Martua founded Singapore-listed Wilmar International in 1991. Wilmar is now one of the world’s largest palm oil companies with a presence in 20 countries. The company claims to have invested $3.6 billion over the years it has operated in Indonesia, where PT Wilmar Nabati Indonesia Gresik is currently constructing an industrial complex in East Java, which will include flour mills and a jet fuel refinery when completed in 2013.
5. Susilo Wonowidjojo, 55
Gudang Garam
Cigarettes, agribusiness
$3.5 billion
Last year, the family benefited from the strong performance of its flagship cigarette maker Gudang Garam, where net income surged 20% to Rp4.14 trillion ($455 million) while sales rose 14% to Rp37.69 trillion. Although cigarettes remain the core business, the family has been expanding rapidly into palm oil. 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.
6. Dato Low Tuck Kwong, 63
Bayan Resources
Coal mining
$3 billion
Starting with construction and engineering companies, Singapore-born Low never looked back after he entered the coal business in 1985. In a country where coal has put a smile on the face of several billionaires, Low emerged as the front-runner. Net income at Bayan Resources doubled to Rp1.87 trillion last year. The company has secured long term contracts to supply coal to two Indian power producers, Thermal Powertech Corporation India and Universal Crescent Power Private. Last year the company added six coal miners with assets in East Kalimantan to its growing portfolio. Outside the coal business, the entrepreneur has interests in a gas field in East Kalimantan under Provident
7. Sukanto Tanoto, 62
Royal Golden Eagle
Plantations, pulp & paper
$3 billion
Starting with construction and engineering companies, Singapore-born Low never looked back after he entered the coal business in 1985. In a country where coal has put a smile on the face of several billionaires, Low emerged as the front-runner. Net income at Bayan Resources doubled to Rp1.87 trillion last year. The company has secured long term contracts to supply coal to two Indian power producers, Thermal Powertech Corporation India and Universal Crescent Power Private. Last year the company added six coal miners with assets in East Kalimantan to its growing portfolio. Outside the coal business, the entrepreneur has interests in a gas field in East Kalimantan under Provident
7. Sukanto Tanoto, 62
Royal Golden Eagle
Plantations, pulp & paper
$2.4 billion
Sukanto is sometimes seen as personifying the Medan Chinese culture, typified by hard work and boldness in taking risks. Starting as a supplier of spare parts for oil and gas companies, he then established himself as the pioneer in the plywood business in the country. Unlike others who fell into problems with supply, Sukanto has diversified across the globe. His Royal Golden Eagle group is now a sprawling business empire with interests in various lines of business and assets spanning from Brazil to China. The group’s pulp & paper unit APRIL is one of the world’s largest with its premium brand PaperOne sold in over 60 countries. Asian Agri, a palm plantation unit, manages over 160,000 hectares in Sumatra, while energy firm Pacific Oil and Gas is involved in three oil and gas blocks in Sumatra and is working on power plant and gas terminal projects in China.
8. Putera Sampoerna, 62
Sampoerna Strategic
Agribusiness, investment
$2.3 billion
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. Palm oil unit Sampoerna Agro reported a 73% increase in net income to Rp3.14 trillion last year. Putera’s latest venture is the banking sector where he has purchased 85% of Bank Dipo Internasional. 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.”
9. Aburizal Bakrie, 65
Bakrie Group
Property, CPO, investment, energy
$2.2 billion
While the focus of current public attention is Aburizal’s determined push to be nominated as Golkar Party’s presidential candidate for 2014, others are concerned by his family company’s continuing debt problems. While holding company Bakrie & Brothers has interests in coal, property, energy, infrastructure, palm oil and telecommunications, shares in many have been sold off to raise cash. Only in April, the holding company sold down its holdings in three of its companies for what the Reuters news agency said was a total Rp124.7 billion ($13.63 million). After the transactions, Bakrie & Brothers said it owns 26.4% of Bakrie Sumatera, 7.8% of Bakrieland and 8% of Energi Mega Persada, according to the agency. And, as this magazine went to press, London-listed Bumi Plc. was reported by Bloomberg to be looking for about $100 million needed as loan collateral, after shares in the company fell 29% in April, triggering the call for cash. While Bloomberg quoted sources familiar with the problem as saying Bumi Plc. would definitely be able to come up with a solution, the problem compounded the debt picture.
10. Peter Sondakh, 60
Rajawali Group
Investment, mining
$2.2 billion
Sukanto is sometimes seen as personifying the Medan Chinese culture, typified by hard work and boldness in taking risks. Starting as a supplier of spare parts for oil and gas companies, he then established himself as the pioneer in the plywood business in the country. Unlike others who fell into problems with supply, Sukanto has diversified across the globe. His Royal Golden Eagle group is now a sprawling business empire with interests in various lines of business and assets spanning from Brazil to China. The group’s pulp & paper unit APRIL is one of the world’s largest with its premium brand PaperOne sold in over 60 countries. Asian Agri, a palm plantation unit, manages over 160,000 hectares in Sumatra, while energy firm Pacific Oil and Gas is involved in three oil and gas blocks in Sumatra and is working on power plant and gas terminal projects in China.
8. Putera Sampoerna, 62
Sampoerna Strategic
Agribusiness, investment
$2.3 billion
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. Palm oil unit Sampoerna Agro reported a 73% increase in net income to Rp3.14 trillion last year. Putera’s latest venture is the banking sector where he has purchased 85% of Bank Dipo Internasional. 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.”
9. Aburizal Bakrie, 65
Bakrie Group
Property, CPO, investment, energy
$2.2 billion
While the focus of current public attention is Aburizal’s determined push to be nominated as Golkar Party’s presidential candidate for 2014, others are concerned by his family company’s continuing debt problems. While holding company Bakrie & Brothers has interests in coal, property, energy, infrastructure, palm oil and telecommunications, shares in many have been sold off to raise cash. Only in April, the holding company sold down its holdings in three of its companies for what the Reuters news agency said was a total Rp124.7 billion ($13.63 million). After the transactions, Bakrie & Brothers said it owns 26.4% of Bakrie Sumatera, 7.8% of Bakrieland and 8% of Energi Mega Persada, according to the agency. And, as this magazine went to press, London-listed Bumi Plc. was reported by Bloomberg to be looking for about $100 million needed as loan collateral, after shares in the company fell 29% in April, triggering the call for cash. While Bloomberg quoted sources familiar with the problem as saying Bumi Plc. would definitely be able to come up with a solution, the problem compounded the debt picture.
10. Peter Sondakh, 60
Rajawali Group
Investment, mining
$2.2 billion
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 ranks of Indonesian 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 ownership of 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 his holding company Rajawali Corporation. The company recently acquired a 19.9% stake in Australia-based Indo Mines Ltd for $13.2 million. Rajawali owns 23.6% of toll-road contractor PT Nusantara Infrastructure and its Express group, Indonesia’s second-largest taxi operator, is expected to go public late this year. The group also owns 90% of PT Bukit Asam Transpacific Railway, a joint venture for the construction of a 300-km coal railroad in Sumatra.
