Cover Story / June 2018
Globe Asia's 150 Rich List 1. ROBERT HARTONO, 77, AND MICHAEL HARTONO, 78 DJARUM • CIGARETTES, BANKING, INDUSTRY, UTILITIES, TELECOMMUNICATIONS $21 billion While consumption growth might have slowed, the banking industry still posted about 30% growth in terms of revenue and profit last year, dramatically impacting the brothers’ wealth in 2018. As a result, shares in their Bank Central Asia (BCA) rose from Rp18,000 to Rp22,000. The cigarette business, the initial foundation of their wealth, is also healthy, and now the family also has significant interests in palm oil plantations and mills, showing steady growth for the last three years. The family also has significant interests in telecommunications infrastructure through Tower Bersama. The brothers also have car dealerships and technology and e-commerce operations through Blibli.com 2.EKA TJIPTA WIDJAJA, 94 SINAR MAS GROUP • PLANTATIONS, PULP AND PAPER, PROPERTY, FINANCE, ENERGY $13.9 billion The widely diversified Sinar Mas Group is well placed to make money under most conditions. As one of Indonesia’s kings in the field of palm oil and pulp and paper Eka Tjipta Widjaja enjoys strong global demand. In the pulp and paper business, headed by Asia Pulp and Paper, positive reports from operating companies in Indonesia and China have seen share prices at business arms such as Tjiwi Kimia strengthen dramatically. While the domestically focused property market is flat, there are strong prospects for the future from sales from the large land bank. Finance arm Sinarmas Multiartha offers a variety of financial services and is enjoying solid growth along with counterparts in the industry. 3.ANTHONI SALIM, 69 FIRST PACIFIC • FOOD, INVESTMENT $11.5 billion Anthoni along with his partners controls his investment through a holding company, Hong Kong-listed First Pacific Company Ltd., with two major operating units, Indofood Group in Indonesia and Metro Pacific Investment in the Philippines. Anthoni is also believed to have minority interests in a number of other investment vehicles outside of his major operations. Last year Metro Pacific Investment acquired Indonesia-based infrastructure company Nusantara Infrastructure. Slowing consumption in the Indonesian market has seen Indofood’s shares down about 20% from last year’s prices, directly impacting performance at parent company First Pacific. 4.SUSILO WONOWIDJOJO, 61 GUDANG GARAM • CIGARETTES, PLANTATIONS $11.00 billion With stable growth of business, one of a small group of cigarette kings continues to do well, with good growth in wealth in the past year. Susilo Wonowidjojo, the third son of founder Suryo Wonowidjojo, controls publicly listed PT Gudang Garam. He has been president director since he took over from his brother Rachman Halim. He has introduced modern cigarette-making techniques as well as new ‘mild’ cigarette products. His factories now sprawl across the city of Kediri and across to Pasuruan in East Java. Susilo, who has four children, is known as a hard worker as well as a philanthropist. 5.CHAIRUL TANJUNG, 55 CT CORP • MEDIA, BANKING, RETAIL $4.6 billion Chairul’s widely diversified business empire has stabilized over the past three years after a period of rapid-fire acquisitions. After building his business from scratch he is now a major player in retail through Transmart, his new brand for the former Carrefour superstores, and other lifestyle business. In media he controls Trans TV, TV-7, detik.com, CNN Indonesia and CNBC Indonesia. His property business is also performing well, aiming at the middle-class market. Less financially successful is his significant shareholding in flag carrier Garuda Indonesia. 6.SRI PRAKASH LOHIA, 65 INDORAMA • TEXTILES, GARMENT $4.5 billion Lohia grew his business from Indonesia and turned it into a global company operating across continents. As the chairman and managing director of Indorama Corp., one of the world’s largest polyester producers, Sri Prakash Lohia has built one of Indonesia’s most global enterprises. Lohia transformed Indorama from a textile producer to a petrochemical giant and the world’s largest producer of polyethylene terephthalate (PET) resin, used to make plastic bottles, through his investment arm Indorama Ventures Plc., based in London. Born in Calcutta, India, Lohia is related by marriage to the Mittal steel family and has one of the world’s finest collections of old books and lithographs. 7.THEODORE P. RACHMAT, 69 TRIPUTRA GROUP, ADARO • MINING, AGRIBUSINESS, MANUFACTURING, SERVICE $4.5 billion A respected former professional with Astra International who turned his hand to business, TP Rachmat has grown strong businesses with a number of different partners in a variety of sectors. Triputra Group has interests in rubber and palm oil plantations, coal, motorcycle distribution, credit provision and transportation, while ASSA Rent is the largest motor vehicle rental outfit in the country. Teddy is also a major investor in Adaro Energy, which operates the country’s second largest coal mine, and is now pushing into power generation. 8.PUTERA SAMPOERNA, 67 SAMPOERNA STRATEGIC • PLANTATIONS, AGRIBUSINESS $4.3 billion After selling off his tobacco business a decade ago, Putera Sampoerna set up an investment vehicle in Sampoerna Strategic running agribusiness, micro-finance, timber operations, property and telecommunication arms. His Sampoerna Agro engages in palm plantations and crude palm oil mills, palm seed and sago starch production. His group successfully acquired small bank Bank Dippo and changed the name to Bank Sahabat Sampoerna. Putera is said to be working closely with the Clinton Global Initiative, established by former US President Bill Clinton, to promote education. 9.SUKANTO TANOTO, 68 ROYAL GOLDEN EAGLE • PLANTATIONS, ENERGY, PULP $2.7 billion Sukanto Tanoto owns Royal Golden Eagle, which manages a group of world-class companies specializing in resource-based manufacturing. In pulp and paper and palm oil through to the oil and gas sector, the group is supported by a workforce of over 60,000 and has a presence across Indonesia, China, Singapore, Brazil and Canada. Youngest son Anderson Tanoto has started playing a leadership role at the pulp and paper business and has been more active in influential business lobby the Indonesian Chamber of Commerce and Industry (Kadin). The group has been keen to campaign for sustainable practices and social benefits after previously being forced to battle accusations from green activists over involvement in deforestation. 10.Dato’ Sri Tahir, 65 Mayapada Banking Group • Banking, Duty-free retailing, healthcare, property $2.15 billion The son of a rickshaw-maker from Surabaya, Dato’Sri Tahir founded the Mayapada Group in 1986. Today the group includes Mayapada Bank, hospitals and duty-free shops as well as interests in media and real estate. He has expanded his property business by buying a building in Japan. Tahir continues to expand his property portfolio by astutely building up land banks and investing in developments nationwide, including for example a Rp1.17 trillion share purchase of PT Sentul City this past January. Tahir is well known as a philanthropist, backing Bill and Melinda Gates’ Global Fund and supporting his own Tahir Foundation. 11.EDDY WILLIAM KATUARI, 66 WINGS GROUP • CONSUMER GOODS $2.1 billion Eddy runs family business Wing Group and is now pressing ahead with critical expansion plans to make noodle brand Sedaap and Top Kopi important players in the Indonesian consumer goods industry, challenging Anthoni Salim’s dominance as market leader. Wings Group is already one of Indonesia’s largest consumer goods giants with products ranging from detergents to noodles and coffee. Its products sell in more than 80 countries. William’s palm oil plantations produce oleochemicals and other raw materials for personal and home care products. Wings is now producing cement under the Elephant brand. 12.ABURIZAL BAKRIE, 69 BAKRIE GROUP • INVESTMENT $2.05 billion Aburizal Bakrie, or Ical to his friends, is less vocal than in the past. He is no longer active in Golkar Party, which he used to lead, although he remains an important player in Indonesia’s political game. Along with other members of the family he runs Bakrie and Brothers, investing in a sprawling mix of businesses. The group enjoys good returns from investments in plantations, media, manufacturing, property and other areas. His TV station ANTV has been leading ratings thanks to a diet of Indian movies and reality shows. Debt-plagued coal miner Bumi Resources continues to produce headaches but this year the company plans to restructure its Rp9 trillion debt to create a healthier situation. 13.EDWIN SOERYADJAYA, 68 SARATOGA • INVESTMENTS, COAL MINING $2.0 billion Edwin Soeryadjaya, the second son of Astra Group founder, is well known as the co-founder of Saratoga Investama Sedaya, Indonesia’s largest private equity outfit, with Sandiaga Uno in 1998. With Sandy more active in politics lately, Edwin’s son Michael W.P. Soeryadjaya has taken on the leadership helmet. Edwin also owns a stake in the Adaro Energy coal mining and power company. Saratoga’s motorcycle distributor Mitra Phinastika Mustika recently sold its entire stake in lubricant manufacturer Federal Karyatama to US energy company ExxonMobil. Known as a portfolio investor, Saratoga has a reputation of building up its companies and then selling at top price. 14.SJAMSUL NURSALIM, 76 GAJAH TUNGGAL GROUP • TIRES, RETAIL, PROPERTY $2.0 billion Sjamsul Nursalim is the owner of the largest integrated tire manufacturing outfit in Southeast Asia. The founder of Gajah Tunggal Group and his wife Itjih are doing well, with the tire maker still releasing new products, while the group’s retail arm Mitra Adi Perkasa (MAP), which operates more than 100 international brands including Starbucks, Burger King, Samsonite and Golf House, is growing steadily along with Indonesia’s rising middle-income class. Sjamsul hasn’t been seen in Indonesia for a long time, due to allegations he misused a government bailout in the wake of the 1997/8 economic crisis. 15.MOCHTAR RIADY, 89 Lippo Group • Property, retail, healthcare, technology, investments, media $2.0 billion One of Asia’s most respected business leaders, Dr. Mochtar Riady has built Lippo Group into a diversified pan-Asian business empire. Mochtar, who turned 89 in May, continues to make one breakthrough after another. Having successfully launched mega development Meikarta City, the group continues its foray into the digital world. The group's traditional businesses are doing well and Lippo continues to dominate in healthcare, retail malls, movie theaters, department stores, hypermarkets and property development. The group's digital investments are now valued at approximately $930 million. These include leading payment company OVO and MatahariMall. Venturra Capital has invested in 22 companies, including RuangGuru, Grab, Sociolla and Zilingo. 16.PETER SONDAKH, 64 RAJAWALI GROUP • ENERGY, PLANTATIONS, INVESTMENT $1.8 billion Tycoon Peter Sondakh last year cashed in his 37% stake in his palm oil company Eagle High Plantation for $632 million to Malaysian state-owned company Felda Global Ventures. Founded in 1984, Rajawali Group has various assets in Indonesia, including in telecommunications, transportation, mining and cement industries. He also owns the luxurious St. Regis hotels in Jakarta, Bali and Langkawi, Malaysia. 17.EDDY SARIAATMADJA, 64, AND FOFO SARIAATMADJA, 54 ELANG MAHKOTA TECHNOLOGY GROUP • TV, TECHNOLOGY $1.8 billion Brothers Eddy and Fofo own PT Elang Mahkota Teknologi, known as the Emtek Group. The company initially provided computer services and has since grown into an integrated business group with assets ranging from media and e-commerce to IT solutions and an internet service provider. Eddy’s son Alvin heads the Emtek Group holding company and daughter Eliza is busy retrieving Blackberry Messenger’s popularity in Indonesia. Emtek Group has investments in various startups, including PropertyGuru, Bukalapak.com, Lakupon.com and Bobobobo.com. In media the group controls Liputan6.com, SCTV, Indosiar and O Channel television stations. 18.AKSA MAHMUD, 72 BOSOWA CORPORATION • CEMENT, INFRASTRUCTURE, TRADING, ENERGY $1.8 billion Aksa Mahmud founded the powerful eastern Indonesia-focused conglomerate Bosowa Group. Aksa’s family has been getting more active in politics, with Erwin, Aksa’s eldest son, increasingly active in Golkar Party, where uncle Jusuf Kalla (Indonesia’s current vice president) was once chairman. At the Indonesian Chamber of Commerce and Industry (Kadin), Erwin recently expressed concern about the government’s policy to ease access for foreign workers. The Bosowa Group has business in various sectors including infrastructure, manufacturing, finance, property and automotive spare parts. 19.HARY TANOESOEDIBJO, 52 MNC GROUP • MEDIA, FINANCE, PROPERTY, INFRASTRUCTURE $1.8 billion Hary Tanoesoedibjo’s MNC Studios International (MSI) is undertaking an initial public offering to sell 30% of its equity to raise up to Rp1 trillion. Part of the proceeds will help fund ‘Movie Land’, one attraction in a major projected development at Lido in West Java. Running a major production house, advertising agency and talent management studio, MNC Studios provides a variety of content for the group. MNC Group is the largest media operation in the country with television stations RCTI, MNC TV and Global TV, magazines, a newspaper and radio stations. The group also has investments in property, infrastructure, finance and venture capital. In politics, Hary leads the new Indonesian Unity Party (Perindo). 20.MARTUA SITORUS, 59 WILMAR INTERNATIONAL • PLANTATIONS, FOOD, PROPERTY $1.7 billion As a co-founder of Singapore-listed Wilmar International, an agribusiness firm with a significant palm oil arm, Martua stepped down from his position as executive deputy chairman in April 2017 to become a non-executive director. His property venture Gamaland Group now owns Gama Tower, one of the tallest buildings in Indonesia. He is also developing 1 Undershaft, one of the tallest skyscrapers in London, which was given a green light for construction in late 2016. 21.JAKOB OETAMA, 87, AND LILIK OETAMA KOMPAS GRAMEDIA GROUP • MEDIA, TV, HOTELS, BOOKSTORES $1.65 billion Jakob Oetama is a renowned figure in the Indonesian media industry. His contribution to the industry continues to be acknowledged with honors such as the Lifetime Achievement Award and a Honoris Causa degree from Gadjah Mada University in Yogyakarta. Kompas Gramedia Group’s core business enterprises remain in the information, communication and education business, while it also has diversified interests in hotels (Santika hotel chain), real estate (PT Permata Media Land), tissue paper production (PT Graha Kerindo Utama) and travel (PT Ina Media Wisatamas). The group also has two ‘Bentara Budaya’ cultural centers, in Jakarta and Yogyakarta. Jakob’s son Lilik became CEO of the group in 2015. 22. Agus Lasmono Sudwikatmono, 46 Mining, Energy, Media $1.6 billion Appointed as president commissioner of Indika Energy in January 2017, Agus Lasmono is the founder and owner of Indika Energy. Previously he was vice president commissioner of the company. He concurrently holds the positions of president commissioner of PT Net Mediatama Indonesia and PT Indika Inti Corpindo, Commissioner of PT Kideco Jaya Agung, president director of PT Indika Mitra Energi and president director of PT Indika Multi Media. He was also independent commissioner of PT Surya Citra Media Tbk. and independent commissioner of PT Surya Citra Televisi. Agus, who was born on April 6, 1972, earned his Bachelor of Arts in Economics from Pepperdine University, Malibu, California, USA, in 1993 and aa MA degree in international business from West Coast University, Los Angeles, California. 23.BENJAMIN JIARAVANON, 45, AND JIALIPTO JIARAVANON, 43 CHAROEN POKPHAND INDONESIA • ANIMAL FEED, SHRIMP PRODUCTION $1.6 billion Charoen Pokphand’s core business is agribusiness, and it is Indonesia's largest producer of poultry feed, day-old chicks and processed chickens as part of the Thailand-based group. Siblings Benjamin and Jialipto run the Indonesian operation with a market share of about 35% in both the country's day-old chick business and the poultry feed industry. Benjamin also controls PT Dian Intan Perkasa, which owns 82% of Bank Agris, where he personally holds 0.28% of the shares. 24.LIM HARIYANTO WIJAYA SARWONO, 89 HARITA GROUP • MINING, PLANTATIONS $1.5 billion Lim made his fortune in palm oil and mining, with a current net worth of $790 million. Harita Group controls more than 120,000 hectares of mature oil palm trees through its ownership of more than half of stakes at Singapore-listed Bumitama Agri, a joint venture with Singaporean billionaire Lee Shin Cheng. Lim’s son Lim Gunawan Hariyanto is the chairman and CEO of Bumitama Agri. Harita Group also owns a majority of shares in listed bauxite miner Cita Mineral Investindo among other ventures such as nickel mining, shipping, timber and coal. 25. Wiwoho Basuki Tjokronegoro, 64 Mining, Energy, Engineering $1.5 billion Wiwoho Basuki Tjokronegoro was born in Yogyakarta, on July 25, 1953. As a successful Indonesian businessman in coal mining and oil industry, Wiwoho is the former president commissioner of listed PT Indika Energy. He is also in engineering, supply, and construction business through Tripatra Engineering and PT. Petrosea Tbk. He also operates a power generating company, PT. Cirebon Electric Power. Wiwoho has a passion for arts who invested in a number of arts galleries. He also chairs the Indonesian Keris (traditional dagger) Community and an avid lover of Javanese Wayang Orang performances. Basuki is married to artist Kartika Basuki and has three children. 26.HARYANTO ADIKOESOEMO, 72 AKR CORPORINDO • OIL TRADING, DISTRIBUTION, CHEMICALS $1.5 billion Haryanto Adikoesoemo owns AKR Corporindo and has leveraged a strong business in oil trading and distribution and logistics into a license to distribute fuel across the country. The group also owns the Java Integrated Industrial Estate in Gresik, East Java, which has its own power plant and port. The group’s investments spread into logistics, energy and infrastructure solutions. AKR also owns some hotels and other property interests in Jakarta, Bandung and Surabaya. Haryanto is known as an active art collector and scored a great hit with the public with the new Museum of Modern and Contemporary Art in Nusantara (MACAN) in Jakarta. 27.KIKI BARKI, 78 HARUM ENERGY GROUP • MINING $1.5 billion The improvement in coal prices has helped Kiki Barki return to the list of Indonesia’s richest after falling out of it in 2014 after prices slumped. Increased demand from China and the improving global economy have boosted demand for coal, improving Harum Energy Group’s bottom line. Bandung-born Kiki has long been active in Chinese business community associations, with day-to-day operations of his company now handled by son Lawrence. 28.THE NIN KING, 87 ARGO MANUNGGAL GROUP • PROPERTY, INDUSTRY, TEXTILES $1.5 billion Starting in textiles with Argo Pantes, the tycoon later turned to property with Alam Sutera Realty. In the textile business, he has over 40 factories and 35,000 employees. Currently, he is developing logistics warehouses with a focus on the Greater Jakarta and Surabaya regions, aiming to equip them with up-to-date infrastructure and facilities. He is also noted for his role as a humanitarian with activities in education and social services, donating more than $11 million to various institutions and universities. 29.GARIBALDI ‘BOY’ THOHIR, 53 TNT GROUP, ADARO • ENERGY, MINING, MULTI-FINANCE $1.45 billion Garibaldi made his fortune through Adaro Energy, along with his partners Edwin Soeryadjaya and TP Rachmat, after the company was acquired from Australian company New Hope. He is the president director and a major shareholder in Adaro, while his father Teddy Thohir is a noted entrepreneur with a range of businesses in automotive trading, multi-finance, property, energy and the mining business. Adaro Energy, through its subsidiary Adaro Power, is currently part of a consortium building the biggest power plant in Southeast Asia, to be completed in 2019. Garibaldi also has a majority share in BFI Finance and became a commissioner of PT Bursa Efek Indonesia in 2015. 30.DATO LOW TUCK KWONG, 69 BAYAN RESOURCES • MINING $1.45 billion After securing a $25 million line of credit, coal mining giant Bayan Resources is set to ride higher on the momentum of higher coal prices. Born in Singapore, Dato Low moved to Indonesia in 1972 and his operations have long spread across national boundaries. In the city-state, he controls listed Manhattan Resources. His daughter Elaine Low has been groomed to take control of the business. She and Low’s other children are Singapore citizens, while Low himself has permanent resident status there. 31.CIPUTRA, 86 CIPUTRA GROUP • PROPERTY, EDUCATION $1.4 billion As a pioneer of large-scale township development, Ciputra has emphasized the importance of spreading entrepreneurial spirit. He believes that despite the decreasing value of the rupiah in 2018, the property business will see growth next year following what he refers to as a 10-year cycle of crises. He is expecting another property boom, such as in 2012. The Ciputra Group has built large townships across the archipelago, and also in China and India. PT Ciputra Development Tbk. booked an income of Rp1.3 trillion in the first quarter of 2018. Ciputra is a profound patron of the arts and one of the biggest philanthropists in Indonesia 32.MURDAYA POO, 77, AND SITI HARTATI MURDAYA, 72 CENTRAL CIPTA MURDAYA • PROPERTY, MANUFACTURING, ENERGY, IT $1.4 billion Like many of their generation, Siti Hartarti and husband Murdaya Poo have taken a back seat in business affairs, letting their four children look after affairs. Most prominent is son Prajna Murdaya, who is married to Irene Teja of Pakuwon Group. Among his other duties he runs the League brand of sports footwear, the family’s attempt to create a top sports footwear brand. Murdaya Poo has recently busied himself with the management of the Indonesian Golf Union, boasting that Indonesia’s players are on par with their peers and ready for the 2018 Asian Games. 33.DJOKO SUSANTO, 68 SUMBER ALFARIA TRIJAYA • E-COMMERCE, RETAIL, MINI-MARTS $1.4 billion As the brains behind Alfamart, one of the top mini-market operations in the country, Djoko's vision is taking his business into international franchising. Alfamart’s entry to the Philippines has been a huge success, with over 350 stores all over the country. That takes Alfamart’s total network to more than 10,000 stores. The company has also made strides into the property and hotel industry to further bolster its growing business portfolio. 34.HANDOJO SANTOSA, 55 JAPFA COMFEED • ANIMAL FEED, PROPERTY $1.4 billion Handojo has done well in navigating the tumultuous waters of the industry over the years, with victory last November in an appeal against a ruling of cartel practices against Japfa and other industry majors by the anti-trust agency. The group has been innovative in the way it approaches business. It has recently been focusing on educating its client base about the importance of quality feeds and how to best utilize its products to achieve the best gains. 35. PRAJOGO PANGESTU, 67 BARITO PACIFIC GROUP • PETROCHEMICALS $1.38 billion Prajogo Pangestu controls the Chandra Asri Petrochemical Center and a number of subsidiaries include a joint venture with French tire producer Michelin. His Star Energy operates the 110-MW Wayang Windu geothermal power plant in West Java and has other oil and gas operations. The business also has interests in palm oil plantations in Kalimantan and in the property sector, where it controls an industrial park under PT Griya Idola. Son Agus now serves as president director of Barito Pacific. 36.HANDOJO MULJADI, 52 TEMPO GROUP • PHARMACEUTICALS, COSMETICS $1.35 billion Tempo Scan Pacific is a veteran player in the pharmaceutical world with established over-the-counter drugs such as Bodrex, popular for sufferers of fever, cough and headache, while also focusing on consumer goods and distribution. It is currently moving to stake out a position in eastern Indonesian regions by establishing 11 distribution centers. The Muljadi family controls more than 70% of Tempo Scan through its investment company Bogamulya Nagadi. The company has established 53 branches in Indonesia, with around 10,000 employees, and has also spread its wings to ASEAN countries the Philippines, Malaysia and Thailand. 37.HARTADI ANGKOSUBROTO, 65, AND HUSODO ANGKOSUBROTO, 63 GUNUNG SEWU GROUP • AGROBUSINESS, PROPERTY, LIFE INSURANCE $1.35 billion Both Hartadi and Husodo remain active in the property business, where Gunung Sewu group is best known through its unit Duta Anggada. They currently have developments in a number of areas of Jakarta and other major cities. Husodo’s sister is married to Trijono Gondokusumo of Intiland, another significant player in the property business. The brothers also own a life insurer, operate in the agribusiness sector with Great Giant Pineapple, while another unit produces footwear. 38.SURYADI DARMADI, 68 DUTA PALMA NUSANTARA GROUP • PALM OIL PLANTATIONS, PROPERTY $1.3 billion Duta Palma Nusantara Group is a major player in the palm oil sector through PT Darmex Agro. The company has become one of the largest palm-oil cultivation, production and exporting groups in Indonesia with eight plantation areas spread across Kalimantan and Sumatra’s Riau province. He also has property business in Jakarta and Pekanbaru, Riau. Suryadi Darmadi is the former owner of Bank Kesawan, now controlled by Qatar National Bank. 39.ARIFIN PANIGORO, 72, AND HILMI PANIGORO, 62 MEDCO INTERNATIONAL • ENERGY $1.3 billion The biggest private energy company in Indonesia, Medco Energi Internasional was founded in 1980 by brothers Arifin and Hilmi Panigoro. Arifin handed control to Hilmi when he became active in politics. Medco’s fortunes have been improving along with the rising price of oil. An international player, the group has expanded out of oil into the wider energy industry, recently commencing operations at the third stage of a geothermal plant in Sarulla, North Sumatra, where it works in a consortium including Japan’s Inpex, the operator. 40.Mu’min Ali Gunawan, 79 Panin Group • Banking, insurance, property $1.3 billion Mu’min Ali Gunawan or Lie Mo Ming was one of the founders and major shareholders of the three banks that merged into Panin Bank in 1971. Mu’min still serves as an adviser to PT Panin Bank Tbk. His group still does well out of the financial services business and it has significant interests in property along with Agung Podomoro Land in Senayan City, as well as other properties throughout Jakarta. His late wife was the sister of Lippo’s Mochtar Riady. 41.JOGI HENDRA ATMADJA, 72 MAYORA GROUP • PROCESSED FOODS $1.25 billion Mayora Group’s Jogi Hendra Atmadja is one of Indonesia’s processed foods kings. He makes wafer cookies, Roma biscuits and the famous coffee-flavored candy Kopiko. His family started its first biscuit company, Inbisco Djaja, in the 1970s. Now Mayora has modern factories in Ciawi and Sukabumi in West Java, Pasuruan in East Java, Medan in North Sumatra and Makassar, South Sulawesi. Jogi is also expanding his business to tea beverages with top brands such as Teh Pucuk Harum, a direct competitor for market leader Teh Sosro. Mayora also produces Le Mineral bottled water. 42.RUSDI KIRANA, 55 LION AIR GROUP • AIRLINES $1.2 billion Currently serving as Indonesian Ambassador to Malaysia, Rusdi is best known as the founder of the Lion Group. Low-cost pioneer Lion Air muscled its way to the leadership of the domestic airline industry and the group now operates regional airline Wings and full-service Batik Air. It also has significant stakes in Malaysia-based Malindo Air and Thai Lion Air. The group is a leading customer of Boeing, at one stage setting a world record for aircraft orders. 43.Husain Djojonegoro, 68 ABC, Orang Tua Group • Consumer goods $1.2 billion Already a key player in consumer goods, with products ranging from food to batteries, the Djojonegoro family has made the group’s name synonymous with success and trust among its regular consumers. The group has sharpened its focus on the fast-moving consumer goods market through a tie-up with one of the biggest e-commerce players, Tokopedia. It is also strengthening the performance of its diversified brick and mortar assets, such as convenience store chain MOR. 44.MARTIAS FANGIONO, 80, AND TJILIANDRA FANGIONO, 42 FIRST RESOURCES • PALM OIL PLANTATIONS $1.15 billion Tjiliandra has progressed well after leaving behind the shadow of his father and proving his acumen in developing the business. As leader of the Singapore-listed company, he maintains a low profile but is pushing ahead with expansion, with the company reporting increased production in the first quarter of 2018. The company has been a member of the Roundtable on Sustainable Palm Oil since 2008 and is committed to developing sustainability throughout the industry. Recently it banded together with other players to develop palm oil-based jet fuel. 45. Winarko Sulistyo, 71 FAJAR SURYA WISESA • PULP AND PAPER $1.0 billion Winarko Sulistyo runs a leading packaging paper company, PT Fajar Surya Wisesa Tbk. He has extensive experience in the paper industry of more than 30 years and served as president director and commissioner at the company. He also heads FajarPaper, which has an installed capacity of 1,300,000 metric tons per year and a range of products which include Kraft Liner Board and Corrugated Medium Paper for carton-box packaging and Coated Duplex Board for display packaging. FajarPaper’s approach to business is energy conservation and the environment. The company concentrates on manufacturing recycling and its five paper machines are powered by self-sufficient power plants fueled by clean natural gas. 46.NININ SUBIANTO, 52 PERSADA CAPITAL GROUP • COAL, INVESTMENT, BOOK STORES $980 million Ninin is the heiress of the late Benny Soebianto, who along with TP Rachmat and Edwin Soeryadjaja were former PT Astra International executives. Benny founded investment company Persada Capital as a vehicle to operate in the coal industry and other sectors. She has an interest in Adaro Group, the country’s second-biggest coal miner, as well as in Teddy Rachmat’s Triputra Group, which runs a sprawling range of businesses in mining, plantations, logistics and industry. In the property business, she has an interest in the Legian Bali Hotel. Ninin has a passion for books and is a co-owner of the Aksara chain of book stores. 47.SUGIANTO KUSUMA, 67 ARTHA GRAHA NETWORK • PROPERTY, BANKING $970 million Sugianto Kusuma, often known as Aguan, is a big name in the property development industry through his Agung Sedayu Group. This year the group is developing two mega-projects, Pantai Indah Kapuk 2 and Sedayu City in Kelapa Gading, North Jakarta. Rarely seen in public, the property mogul keeps himself busy with charitable activities for the community, and helping street vendors develop their businesses with help from his bank, Artha Graha. 48.GUNAWAN JUSUF, 64 SUGAR GROUP • SUGAR, BIO-ENERGY $965 million Heading one of Indonesia’s largest sugar producers with three active companies based in Lampung, Gunawan controls PT Gula Putih Mataram, Sweet Indo Lampung (producer of the popular Gulaku brand) and PT Indo Lampung Perkasa. He is also known as one of the pioneers in developing bioenergy. Last year, Gunawan Jusuf started development of photovoltaic and biomass power plants in Sumatra and eastern regions of the country. 49.JOHAN LENSA, 67 J RESOURCES • PROPERTY, MINING $955 million Johan’s listed company, PT J Resources Asia Pasifik Tbk. (PSAB), has two gold mines in Malaysia and Sulawesi. The company has five other subsidiaries which will expand exploration activities in North Sulawesi. The company is targeting to produce 185,000 troy ounces of gold in 2018. Johan is also active in social and charitable works. 50.TOMY WINATA, 60 ARTHA GRAHA NETWORK • BANKING, HOTELS, AGRIBUSINESS $930 million Tomy is partner to Sugianto Kusuma and is known for his Tambling Wildlife Nature Conservation Park in Lampung, which rescues endangered Sumatran tigers, a species increasingly at risk due to habitat destruction. His business empire includes major stakes in Jakarta’s Sudirman Central Business District (SCBD), the Borobudur Hotel and Bank Artha Graha. He is well known for his humanitarian efforts through his social non-profit Artha Graha Peduli. Globe Asia's 150 Rich List
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