Cover Story / June 2016
1. Robert Hartono, 75 and Michael Hartono, 76 Djarum • Banking, industry, utilities, cigarettes $14.8 billion From banking to on-line retail, the Hartono brothers dominate Indonesia’s corporate landscape and have maintained their perch on the GlobeAsia rich list for six years. Originally cigarette makers with the Djarum brand, their empire now extends to Bank Central Asia (BCA), the country’s largest private bank, and high-profile property assets. Djarum remains the country’s third largest cigarette-maker and is a major sponsor of the brothers’ favorite sport, basketball. Over the past five years, the group has moved into the fast-growing on-line retail sector, acquiring Kaskus, the country’s largest on-line website, Infokost, a website which lists studio apartments in Jakarta; Blibli, a popular shopping site, and Bolabob, a sports site. The group has a controlling stake in digital marketing agency Merah Cipta Media. It is in the midst of contract renegotiations with the government over the construction of BCA Tower and the Kempinski Apartments as part of the Grand Indonesia development. 2. Anthoni Salim, 67 First Pacific • Food, investment $11.0 billion Anthoni lost his mother Kim Kin Neo in March this year, when she passed away at the age of 91. No youngster himself anymore, Anthoni continues to set a trail as a world-class businessman and entrepreneur. He is currently seeking to partner with Korea’s Lotte Group to launch an e-commerce portal in 2017, with Salim’s 11,000 Indomaret minimart outlets likely to play a central role in the company’s e-commerce strategy. According to Malaysia’s Star Online, Anthoni has also acquired a substantial stake in Cab Cakaran Corp. Bhd. (CAP), an integrated poultry producer and franchise holder of the Kyros Kebab restaurant chain. In Indonesia, Salim operates palm oil plantations and palm oil mills, sugar plantations, flour mills, and is a producer of packaged goods led by its instant noodle brands, which now have a presence as far away as Africa and the Middle East. 3. Eka Tjipta Widjaja, 93 Sinar Mas Group • Palm plantations, pulp and paper, property, finance, energy $10.5 billion Eka is one of the true champions of Indonesian business, starting out on a shoestring as a poor immigrant from China and establishing a huge empire. Already one of the largest pulp and paper producers in the world, his Sinar Mar Group is set to further cement its position in the sector by opening a $3 billion (Rp40 trillion) complex with two new pulp and paper mills in Ogan Komering Ilir, a two-hour speedboat ride from South Sumatra’s capital of Palembang. The group came under fire for not doing enough to prevent last year’s devastating forest fires although it denied responsibility. Sinar Mas Land is a huge presence on the southern edge of Jakarta while Sinar Mas Bank recently announced a tie-up with Modalku, a P2P lending platform for SMEs. The patriarch still remains in charge although day-to-day operations have long been controlled by his four sons. The combined market value of the 12 listed family-controlled companies at the end of 2015 was around $15 billion, according to Bloomberg. 4. Susilo Wonowidjojo, 59 Gudang Garam • Cigarettes, plantations $10 billion Susilo Wonowidjojo remains faithful to the cigarette business. After a free fall for most of 2015, his Gudang Garam Tbk. has seen its stock recover most of their losses. As of April 22, the company’s shares were trading at Rp67,000, close to their peak of Rp69,000. The surge in the stock price came after Bank Indonesia cut interest rates by 100 basis points, leading analysts to bump up the profit forecast of the country’s second largest publicly traded cigarette maker by 3%. The company has appointed digital marketing agency Growmint to help execute a digital marketing strategy for its GG Mild and GG Mild Shiver brands. 5. Chairul Tanjung, 54 CT Corp • Media, banking, retail $4.8 billion Never one to sit idle, the tycoon in January signed an agreement with global broadcaster CNBC to launch CNBC Indonesia, adding to his media stable which already includes Trans TV, Trans 7, TransVision, online news portal Detik and CNN Indonesia. Apart from media, he has interests in retail, property and theme parks. In February, Singapore’s sovereign wealth fund GIC announced the purchase of an initial 17.4% stake in CT Corp’s retail arm, Trans Retail, for Rp5.2 trillion ($400 million). Chairul rejected speculation that the group was struggling to pay off its US dollar-denominated debt, saying that the proceeds of the sale would be used to fund expansion. 6. Sri Prakash Lohia, 63 Indorama • Textiles, garment $4.1 billion 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 has 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. In April, the company expanded its PET operations in Europe by acquiring Compania Espanola de Petroleos Group (CEPSA) near Cadiz in southern Spain. The company celebrated its 40th anniversary recently with a three-day bash. 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. Putera Sampoerna, 66 Sampoerna Strategic • Plantations, agribusiness $3.5 billion Having sold off his tobacco business a decade ago, Putera Sampoerna has focused on promoting entrepreneurship, education and women’s empowerment. Earlier this year, his venture capital firm Sampoerna Wirausaha, known as Mekar, signed an agreement with the Indonesian Young Entrepreneurs Association (HIPMI) to provide loans to micro, small and medium enterprises. Putera is said to be working closely with the Clinton Global Initiative, established by former US President Bill Clinton, to promote education. 8. Aburizal Bakrie, 68 Bakrie Group • Investment $2.5 billion In giving up the fight to stay chairman of Golkar Party this year, the future is clouded for the man who up until now has been one of the country’s most prominent power-brokers. Aburizal Bakrie or ABR, as he is often known, heads the family that controls significant shares in Bakrie & Brothers. The group has interests in coal mining, media, manufacturing, telecommunications, plantations and property but has been plagued by debt issues for the past few years, most notably at coal miner Bumi Resources. The group hit the headlines recently over reports of a sale of media assets to pay down debt but the company denied that bout of speculation. Eldest son Anindya runs the media business and heads the Bakrie Center Foundation, which offers promising Indonesian students scholarships to study at top global universities. 9. Eddy William Katuari, 64 Wings Group • Consumer goods $2.4 billion Wings’ Mie Sedaap is one of the top five brands in Indonesia, with the instant noodles bought by Indonesian households almost twice a week. Helmed by William Katuari, the Wings Group is one of Indonesia’s largest consumer goods producers with products ranging from detergents to noodles and coffee. Its products sell in more than 80 countries and the group has carved out a strong presence in the Middle East and Africa. Palm plantations are operated through Gawi Makmur Group and Damit Mitra Sekawan produces oleochemicals and other raw materials for personal and home care products. Along with Thai group Siam Cement, Wings is now producing cement under the Elephant brand, and it has a packaging operation with Djarum Group. According to Wikipedia, the family has strong connections: William’s children are reportedly married to members of the Djarum, Gozco and Charoen Pokphand Indonesia groups. 10. Sukanto Tanoto, 66 Royal Golden Eagle • Plantations, energy, pulp $2.2 billion In addition to his existing assets, Sukanto Tanoto’s vision is to become a major global LNG player. Under Pacific Oil and Gas, he has operations in Canada, Indonesia and China. Through Royal Golden Eagle (RGE) he is expanding his palm oil business while his pulp and paper business is grouped under APRIL. The group last year unveiled a new sustainability framework under which it pledged that all pulp and paper companies under both the group and third-party suppliers will stop clearing natural forests until assessments are carried out to set aside land that is carbon-rich forest or has high conservation value. Youngest son Anderson, a director at RGE and up-and-coming figure from the younger generation, is leading the group’s new eco-push. 11. Mochtar Riady, 87 Lippo Group • Property, investment, media $2.2 billion One of the country’s most innovative senior business leaders, Dr. Mochtar Riady has built Lippo Group into a pan-Asian diversified business empire. In January, he launched his 336-page autobiography “Man of Ideas” at an event which attracted high-profile guests including former President Susilo Bambang Yudhoyono. With a particularly strong presence in the property market, the Lippo Group is positioned to benefit from the middle class boom and has continued to expand into new areas. In the past six months, it has emerged as a leading player in the country’s e-commerce industry with MatahariMall.com. Mochtar has a lifetime commitment to healthcare and education. Siloam hospitals are being built in many cities across the country and he established the Mochtar Riady Institute of Nanotechnology as the country’s leading cancer research center in 2006. The group’s educational foundation manages 52 schools and two universities, including leading private university Pelita Harapan. 12. Theodore P Rachmat, 67 Triputra Group, Adaro • Mining, agribusiness, manufacturing, service $2.1 billion Part of the extended Astra clan of businessmen led by the late William Soeryadjaya, Teddy has built Triputra Group into a major diversified business. He 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. He is still on good terms with Astra International, teaming up with the country’s largest automaker to produce motorcycle spare parts. He is a major investor in Adaro Energy, which operates the country’s second largest coal mine, which is now pushing into the power generation sector. With commodity prices sharply down, both Triputra and Adaro have seen a fall in revenue. A strong proponent of open markets, Teddy has been calling for Indonesia not to erect trade barriers. 13. Sjamsul Nursalim, 73 Gajah Tunggal Group • Tires, retail, property $2.05 billion Indonesia’s consumer boom has been good for Sjamsul Nursalim. He and his wife Itjih own the largest integrated tire manufacturing outfit in Southeast Asia. Shares of Gajah Tunggal are up 20% in 2016, rebounding after a sharp fall in 2015 on the back of the company’s new strategy to export to new markets in South America and a pick-up in domestic sales. They also have a strong presence in Indonesia’s retail sector with Mitra Adi Perkasa (MAP), which owns more than 100 international brands including Starbucks, Burger King, Samsonite and Golf House. Daughter Sherry runs the family’s philanthropic activities which include a number of conservation projects. 14. Peter Sondakh, 64 Rajawali Group • Energy, plantations, investment $2 billion A consummate dealmaker, Sondakh sold a 37% stake in his palm oil company Eagle High Plantation for $632 million to Felda Global Ventures, a Malaysian state-owned company in July last year. The deal, he said, was premised on FGV providing technology for downstream processing. He is said to have close ties with Malaysian Prime Minister Najib Razak and has been mentioned in Malaysian media as a possible investor in 1 Malaysian Development Bhd. (1MDB), the scandal-ridden state-owned investment company. Sondakh founded Rajawali Group in 1984 and has been active in the development of the country’s telecommunications, media, transportation, mining and cement industries. He also owns the St. Regis hotels in Jakarta, Bali and Langkawi, Malaysia. 15. Tahir, 64 Mayapada Banking Group• Duty-free retailing, banking, property $1.95 billion The son of a rickshaw-maker from Surabaya, he founded Mayapada group in 1986. Today the group includes Mayapada Bank, hospitals and duty-free shops as well as interests in media and real estate. Married to a daughter of Mochtar Riady, he recently expanded his property business by buying a building in Japan. Last year he was awarded the Bintang Jasa Utama medal of honor by President Joko Widodo. Tahir is well known as a philanthropist, backing Bill and Melinda Gates’ Global Fund and supporting his own Tahir Foundation, where “Our vision is a better Indonesia where every individual has access to adequate healthcare and education that enhance their quality of life.” 16. Martua Sitorus, 57 Wilmar International • Plantations, food $1.9 billion Having built his fortune in palm oil, the tycoon is now expanding aggressively into property in partnership with his brother Ganda and partner William Kuok Khong Hong. Under Singapore-based Aroland Holdings, they are currently developing 1 Undershaft, planned to be one of the tallest skyscrapers in London, and also want to build one of the tallest buildings in Jakarta. The two brothers have also formed Gamaland Group in Indonesia, resuscitating the stalled Sentosa Residences development in East Jakarta. Singapore-listed Wilmar International continues to expand its palm oil plantations in Indonesia although its share price has taken a beating, losing nearly 37% of its value over the past five years. 17. Edwin Soeryadjaya, 66 Saratoga • Investments, mining, airline $1.8 billion Edwin co-founded Saratoga Investama Sedaya, the country’s largest private equity outfit, with Sandiaga Uno in 1998 and earlier this year his son Michael W.P. Soeryadjaya replaced Sandiago as the company’s president director. Saratoga last year posted a 226% increase in net income to $60 million thanks to higher returns from infrastructure and natural resource investments. Saratoga’s investment portfolio at the end of 2015 reached Rp22.2 trillion ($2 billion). 18. Eddy Sariaatmadja, 65 and Fofo Sariaatmadja, 53 Elang Mahkota Technology • TV, technology $1.8 billion Brothers Eddy and Fofo Sariaatmadja have seen their net worth rise on the back of increased income from their television stations and investments in the country’s fast-growing e-commerce sector. The Emtek Group, which the brothers control, invested $175 million in PropertyGuru Group, Asia’s leading online property portal, which has more than 11 million users across a number of countries. The group also has investments in various other local websites including Bukalapak.com (online shopping and marketplace), Lakupon.com (online vouchers) and Bobobobo.com (travel and lifestyle). Emtek subsidiary Kreatif Media Karya (KMK) also owns and operates news portal Liputan6.com, one of the major news websites in Indonesia. 19. Hary Tanoesoedibjo, 51 MNC Group • Media, finance, property, infrastructure $1.75 billion An admirer of Russian President Vladimir Putin and an exponent of Muay Thai boxing, Hary Tanoesoedibjo has built the largest media company in Indonesia. He has teamed up with US property mogul and presidential aspirant Donald Trump to build a six-star luxury resort and residential development in Bali under the Trump Hotel Collection. He is building a toll road from Ciawi to Sukabumi, where he intends to build a range of properties including a Disney theme park. In January, his MNC Group launched MeTube, a video-streaming outfit that airs content from the group’s television programs. So far his excursions into politics have been less than successful, but he’s still persisting, most lately with the formation of the Indonesian Unity Party (Perindo). 20. Haryanto Adikoesoemo, 70 AKR Corporindo • Oil trading, distribution, chemicals $1.7 billion Renaissance Man Haryanto has a collection of some 800 works of art and is behind the development of the Museum of Modern and Contemporary Art in Nusantara (MACAN), which when it opens next year is expected to fill a large gap in the Jakarta art scene. Haryanto, who runs the business started by his father Soegiarto, doesn’t look like running out of cash to fund his philanthropy: AKR Corporindo made it big in oil trading and distribution and logistics and is pressing ahead with an intergrated industrial estate in Gresik, East Java, which boasts its own port and aims to provide logistics, energy and infrastructure solutions to industries investing in Indonesia. AKR is also active in hotels with hotels in Manado, North Sulawesi and Bali and other property interests in Jakarta, Bandung and Surabaya. 21. Jakob Oetama, 85 and Lilik Oetama Kompas Gramedia Group • Print media, TV, hotels, bookstores $1.6 billion Jakob Oetama remains a major force in Indonesia media. The slowdown in print media has made the Kompas Group push for more opportunity in digital-based business, with Kompas.com now the second biggest online portal in Indonesia. The printing business still makes money and the group also has publishing and bookshop operations. With the help of son Lilik, Jakob has diversified into a number of other areas. Their Kompas Gramedia Group has hotels under the Amaris, Santika and Royal Collection brands, strategically placed to grab business at different levels of the market, and has business in MICE. In a departure into manufacturing, the group makes tissue products. Jakob told a staff gathering in February to celebrate 50 years in business that, while he wouldn’t be around to see it, he wanted the group to stay strong for at least another half-century. 22. Ciputra, 85 Ciputra Group • Property $1.6 billion A pioneer of large-scale township development, Ciputra’s footprint today stretches across Southeast Asia through his various companies. The group, which bears the founder’s name, has also expanded to China and India where he has built large townships. His listed entities, PT Ciputra Development Tbk. and PT Ciputra Property Tbk. recently raised close to $400 million to finance residential and commercial property projects in Java, Batam, Sulawesi, Sumatra and Kalimantan. Ciputra’s love of the arts is expressed in his Artpreneur space at Ciputra World in the Casablanca area of South Jakarta. 23. Aksa Mahmud, 71 Bosowa Corporation • Cement, infrastructure, trading, energy $1.55 billion A father of five with 12 grandchildren, Aksa Mahmud continues to oversee his growing business empire despite having handed day-to-day operations over to his children. Already a major national player in infrastructure, manufacturing, finance, property and automotive spare parts, the group now has its sights set on becoming a global player under his son Sadikin, who took over as CEO last year. Brother- in-law Jusuf Kalla is Indonesia’s vice president. 24. Djoko Susanto, 67 Sumber Alfaria Trijaya • Retail, minimarts $1.5 billion Having made Alfamart the top mini-market operation in the country, Djoko is now turning to capturing the ready-to-drink tea market, estimated to be worth around $2 billion. The tycoon has formed a partnership with Thailand’s Ichitan Group and Japan’s Mitsubishi to produce and market green tea in the country. Djoko has also entered a joint venture with SM Investment to open Alfamart stores in the Philippines. Recently Alfamart donated free spectacles and school bags to thousands of school children in Jakarta. 25. The Nin King, 85 Argo Manunggal Group • Property, industry, textiles $1.5 billion The Nin King made his fortune in textiles with Argo Pantes but is now just as famous for his venture into property under Alam Sutera Realty, which has built a major township on the southern edge of Jakarta. Following a successful listing of his Mega Manunggal Property in June last year on the Indonesian Stock Exchange, the tycoon has teamed up with Singapore’s sovereign wealth fund GIC to develop logistics warehouses in Indonesia over the next three years with a focus on the Greater Jakarta and Surabaya regions. The target is to achieve 500,000 sq m of net leasable warehousing to meet the demand for sophisticated inventory systems. 26. Lim Hariyanto Wijaya Sarwono, 87 Harita Group • Mining, plantations $1.5 billion Lim made his fortune in palm oil but has expanded to mining. He broke ground on the construction of a $320 million nickel smelter in Obi Island, South Halmahera in North Maluku province late last year. His Harita Group controls more than 120,000 hectares of mature oil palm trees producing more than 1 million tons of crude palm oil. Bumitama Agri, a Singapore Stock Exchange-listed operation, is a joint venture with Singaporean billionaire Lee Shin Cheng, through his IOI Corp., and with Wilmar International. 27. Benjamin Jiaravanon, 43 and Jialipto Jiaravanon, 41 Charoen Pokphand Indonesia • Animal feed $1.5 billion Charoen Pokhpand, part of the major Thai-based group, is Indonesia’s largest producer of animal feed, chicken meat, shrimp production and has interests in other consumer goods. Founded by Sumeth Jiaravanon, siblings Benjamin and Jialipto run the Indonesian operation. Jialipto is having to fight back against a probe by the Business Competition Supervisory Commission (KPPU) into allegations that major feed producers have created vertically-integrated operations that have acted as a cartel to squeeze out smaller players. Company officials say that’s impossible, claiming that there’s no money in the business. Benjamin controls the shrimp business in Lampung but that too has had problems in the past. Benjamin is married to Erlian Katuari, the third daughter of Wings Group founder William Katuari. 28. Suryadi Darmadi, 66 Duta Palma Nusantara Group • Palm oil plantations $1.45 billion Surya has seen his net worth tumble in line with lower global commodity prices. His Duta Palma Nusantara Group is a major player in the palm oil sector through Darmex Agro, which controls more than 120,000 hectares in Kalimantan and Sumatra. He also owns properties in Jakarta and Pekanbaru, Riau. There appears to have been no follow-up on attempts by the Attorney General’s Office last year to call him for questioning in relationship to a case that saw Riau Governor Riau Annas Maamun go to jail for bribery. He failed to answer three summonses, saying he was sick. 29. Kartini Muljadi, 84 and Handojo Muljadi, 50 Tempo Group • Pharmaceuticals, cosmetics $1.4 billion Kartini was a senior respected lawyer before she went on to start what over the last decade has become a major pharmaceutical and consumer goods company. The family controls more than 70% of Tempo Scan Pacific through its investment company Bogamulya Nagadi. Married to the late Djojo Muljadi, the couple had four children: Kartini Sujipto Husodo, Dia Muljadi, Gunawan Muljadi and Handojo Selamet Muljadi. It fell to Handojo to take control of the operations of the company. Kartini recently had to face questions from the Corruption Eradication Commission over Jakarta Governor Basuki Tjahaja Purnama’s purchase of land from Sumber Waras Hospital, where she is head of the hospital’s foundation. 30. Murdaya Poo, 75 and Siti Hartati Murdaya, 70 Central Cipta Murdaya • Poperty, industry, power plants $1.4 billion Siti Hartarti is back to normal life after a short spell in jail for bribing a regional head to ease licensing processes for a palm oil project. The break allowed the second generation to take a bigger role in the group she founded with husband Murdaya Poo. Their son Prajna Murdaya, who is married to Irene Teja of Pakuwon Group, has taken control of the League brand of sports footwear. The Murdaya fortune comes from Central Cipta Murdaya (CCM), which is engaged in property, energy, manufacturing, retail and information technology. Siti is a leading figure in the Chinese-Indonesian business community and in the past was head of the Indonesian Buddhist Council (Walubi). Both she and her husband have long been known as politically adept. 31. Hartadi Angkosubroto, 63 and Husodo Angkosubroto, 61 Gunung Sewu Group • Agrobusiness, property, life insurance $1.3 billion The Angkosubroto family of the Gunung Sewu group is best known for its interests in the property sector through Duta Anggada. With older brother Hartadi still holding the reins and Husodo also active, the property unit owns and manages buildings in business areas throughout Jakarta and other big cities in Indonesia. The family has widespread links within the business community, not least through marriage, with Husodo’s sister married to Trijono Gondokusumo of Intiland, another significant player in the property business. The brothers also operate in life insurance, where Gunung Sewu is one of the biggest local names, the agribusiness sector with Great Giant Pineapple and a consumer goods division that produces footwear. In 2013 the brothers bought PT Akbar Indo Makmur Stimec, a listed coal producer. Hartadi said at the time that he believed there was a great future in coal, whose price then proceeded to collapse. 32. Dato Low Tuck Kwong, 67 Bayan Resources • Mining $1.25 billion Dato Low has not suffered the travails of so many in the coal business. His Bayan Resources has long-term contracts with national and international buyers that have softened the fall in coal prices. Born in Singapore, he moved to Indonesia in 1972 but now his operations spread across the national boundaries. In the city-state, he controls listed Manhattan Resources. The two operations are a good fit: the Singapore-listed company operates logistics and other support services to the coal mining and oil and gas industries in Indonesia. The company also developed the Connexion project above Farrer Park MRT Station. His daughter Elaine Low has been groomed to take control of the company. She and Low’s other children are reported to be Singapore citizens, while Low himself is said to have permanent resident status there. 33. Mu’min Ali Gunawan, 77 Panin Group • Banking, insurance, property $1.2 billion Mu’min Ali Gunawan or Lie Mo Ming was one of the founders and shareholder of the three banks that merged into Panin Bank in 1971. Mu’min served as an adviser of PT Panin Bank Tbk. In a latest development, Japan’s Dai-ichi Life insurance company has agreed to pay Rp 3.3 trillion for a 40 percent stake in Panin Life, a life insurance company controlled by his family. Mu’min’s 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 Mochtar Riady. 34. Rusdi Kirana, 53 Lion Air Group • Airline $1.2 billion Rusdi is now the deputy chairman of the National Awakening Party (PKB). Skeptics believed his entry to politics and his appointment to President Joko Widodo’s advisory board was motivated by a desire to keep his business growing and make it untouchable. That proved not to be the case, since the government turned down his move to build a 5,500-hectare freight-only airport in Banten’s Lebak regency. The Department of Transportation nixed the plan because of possible safety issues due to overlapping flight paths. That leaves Lion wondering what to do with all that land. Rusdi’s Lion Air Group keeps growing and now operates Lion Air, Batik Air and regional airline Wings Air as well as subsidiaries in both Malaysia and Thailand. Lion Air pioneered the low-cost carrier market in Indonesia and its no-frills model is also proving a success in its other ASEAN ventures. 35. Teddy Thohir, 81 and Garibaldi Thohir, 51 TNT Group • Energy, mining, multi-finance $1.1 billion Teddy Thohir made his fortune out of automotive trading, multi-finance, property, energy and the mining business. Along with William Soerjadjaja, he founded Astra International and then went on to start the Adaro Group, one of Indonesia’s biggest coal mines. Oldest son Garibaldi runs Adaro and unlike many coal miners, it turned a net profit of Rp1.981 trillion last year, down 14.3% compared to the 2014 figure. Garibaldi, or Boy as he’s known, admits the coal business isn’t as easy at it used to be. He’s also building a $830 million ammonia plant in South Sulawesi. Meanwhile second son Erick, 46, runs the media-focused Mahaka Group and is the president and majority owner of Italian football club Intermilan FC, where he has admitted he’s seeking a strategic partner to take 20% of the club. Teddy’s daughter Rika Thohir is low profile but is known to have her own business interests. 36. Husein Djojonegoro, 6 ABC, Orang Tua Group • Consumer goods $1.1 billion The Djojonegoro family has taken what is known as both the Orang Tua Group and the ABC Group to the top ranks of Indonesia’s consumer products companies. With more than 40 food brands the operation competes head-to-head with Unilever Indonesia and the Mayora Group. Husain has handed much of the day-to-day work to his children, with son Hamid playing a leading role. He raised Rp4.5 billion from nine of the family companies for the re-election campaign of Jakarta Governor Basuki Tjahaja Purnama. Purnama, or Ahok as he’s usually called, said Hamid had no issues with the donation being made public. Many cried foul, saying that represented illegal gratification. The family has a wide network of relationships within the business community, and is especially close to the Riady family. Husain’s grandson Soeharto Djojonegoro married Caroline Riady in 2005 and another, Soebroto, married Stephanie Riady in 2012. 37. Martias Fangiano, 78 and Tjiliandra Fangiono, 40 First Resources • Palm plantations $950 million Martias is a respected veteran in the field of forestry and plantations in Sumatra and Kalimantan but he handed over control of Singapore-listed First Resources more than a decade ago. The power behind First Resources now is son Ciliandra Fangiono, who has played a pivotal role in developing the family business. Low profile and well-educated, with an economics degree from Cambridge University, he is one of Indonesia’s youngest tycoons. He spent a couple of years working for Merrill Lynch in Singapore before returning home. In the 23 years brother Sigih and he have been active in First Resources, its plantation acreage has grown from 100,000 hectares to 240,000 hectares. 38. Sugianto Kusuma, 65 Agung Sedayu, Bank Artha Graha • Property, banking $910 million Suginto Kusuma or Aguan prefers to maintain a low profile and it must have been a shock to find himself banned from overseas travel on April 3 at the request of the Corruption Eradication Commission (KPK). Since then his son Richard has been grilled by the KPK on two occasions over dealings with the Jakarta Regional Assembly over the reclamation project off the city’s north coast. Assembly member M. Sanusi and Ariesman Widjaja, CEO of their Agung Sedayu Group, have both been named suspects in the case. The company is planning to build Pluit City on some of 17 artificial islands in Jakarta Bay. Sugianto is a significant player in property and he partners with Tomy Winata in the Sudirman Central Business District. He is active in social activities through Budha Tzu Chi Indonesia, helping provide shelter for low-income people. 39. Handojo Santoso, 52 Japfa Comfeed Group • Animal feed & Property $910 million Japfa Comfeed has been caught up in cartel allegations along with other feed operators. The business is managed under Singaporean-listed company Japfa Ltd. The company, founded by the late Teguh Santosa under the name Ometraco Group, is Indonesia’s second largest animal feed producer. Handojo also has investments in property, including Jakarta’s iconic Plaza Indonesia, in partnership with members of his extended family and he is looking to invest in fruit plantations. He is married to Farida Gustimego, a niece of Syamsul and Itjih Nursalim of the Gadjah Tunggal Group. Known for his casual style, Handojo is known to be a motoring enthusiast and supporter of extreme sports. Son Renaldo Santos is taking an increasing role in the business. 40. Gunawan Jusuf, 62 Sugar Group Companies • Sugar, bio-energy $905 million Gunawan’s Sugar Group is one of Indonesia’s largest sugar producers with three active companies in the sector based in Lampung: PT Gula Putih Mataram, Sweet Indo Lampung (producer of the popular Gulaku brand) and PT Indo Lampung Perkasa. While business remain his main focus of attention, Gunawan is also looking into the potential for sugar cane to become a source of green energy in the future. While he has made some enemies during his career, he has a brain to match his business skills and earned a master of science degree from the University of Gadjah Mada. His thesis has been rewritten as the book The Blue Gold. His son Julian Iverson Souhault, 34, also studied at the same prestigious university and is active along with his siblings in running the family business, which now extends to coffee producer and retailer JJ Royal. 41. Johan Lensa, 66 J Resources • Property $900 million While performance at his coal and mining business Bukit Makmur Mandiri (BMM) has slowed due to the collapse in commodity prices, Johan Lensa also has significant interests in property. Through investment arms J Resources Asia Pacific and Bukit Makmur Widya the group controls stakes in the Gondokusumo family’s Intiland Development as well as Luntungan Honoris’ Modern Land. Johan also has a significant stake in the Australian property market through Golden Property Pty. Ltd. The family hasn’t stopped moving forward: in February, J Resources announced it had arranged a syndicated loan of $208.5 million from Indonesia Eximbank, Bank ICBC Indonesia and Bank Permata to start a new gold mine and smelter in North Sulawesi. Johan’s son Jimmy Budiarto is an important player in the team, helping grow business in Indonesia and elsewhere in Asia. 42. Tomy Winata, 58 Artha Graha Group • Banking, hotels, agribusiness $900 million Tomy is becoming best known for his Tambling Wildlife Nature Conservation Park in Lampung, which rescues endangered Sumatran tigers, increasingly at risk to habitat destruction. However in Bali he’s notorious for his controversial reclamation project in Benoa Bay. He has extensive property interests including major stakes in Jakarta’s Sudirman Central District Business (SCDB) and Borobudur Hotel. His Artha Graha Bank is a mid-level lender, while he owns a large fisheries processing unit through Maritim Timur Jaya, operating in Maluku. To support the fisheries business, Tomy says he will establish a shipping company connecting Indonesia’s islands as well as a logistics business to help boost inter-island trade. His Artha Graha Network also wants to enter the metal business through Artha Metal Synergy, which will be commissioned by the end of this year to supply demand for metals in domestic industry. 43. Hashim Djojohadikusumo, 62 Arsari Group • Investment, energy $900 million Hashim lost a significant amount of money he put into his brother Prabowo Subianto’s presidential election campaign in 2014 but he continues to put a lot of effort into politics, where he is deputy chairman of the Greater Indonesia Movement (Gerindra), Prabowo’s political party. Gerindra is currently busy marshaling its forces to fight the Jakarta gubernatorial election next year. His two children, Hario and Rahayu Saraswanti, both became members of the House of Representatives for Gerindra in 2014. The interest in politics goes back a long way: Hashim and Prabowo’s father Soemitro Djojohadikusumo was an important player in Indonesian political life during both the Sukarno and Suharto periods. Hashim continues to guide his Asari Group, which has diversified interests in rubber plantations and tin mining and is developing renewable energy solutions including water power and bio-energy using the indigenous aren tree (arenga pinnata). 44. Benny Subianto, 75 Persada Capital Group • Coal, investment $845 million Benny Soebianto, along with TP Rachmat and Edwin Soeryadjaja, cut his teeth at PT Astra International and in 2008 acted as the “three musketeers” who helped it avert a crisis. The three are old friends and now have their own business empires. Benny uses his investment company Persada Capital as a vehicle to operate in the coal industry and other business. He 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, plantation, logistics and industry. In the property business he has interest in the Legian Bali Hotel. 45. Alexander Tedja 72 and Melinda Tedja, 72 Pakuwon Group • Malls, property $840 million The husband-and-wife team of Alexander and Melinda run leading property business Pakuwon Group, which began life in Surabaya but has now made a major mark on Jakarta. Two prestigious superblocks, Kota Kasablanca and Gandaria City, set an early mark in mixed-use developments. Alexander and Melinda now have more time to spend on their interests, which include fine art, while son Eiffel Tedja has taken charge of developing the family business. He is married to Imelda Dharma, the daughter of Surya Dharma of Gadjah Tunggal Group. Meanwhile daughter Irene Teddja is married to Pradjna Murdaya Poo of Central Cipta Murdaya. 46. Sandiaga Uno, 47 Saratoga, Recapital • Private equity, investment $830 million A solid business foundation behind him, Sandi Uno now wants to try his hand at politics and is pushing to be the Greater Indonesia Movement’s (Gerindra) candidate in next year’s Jakarta governor election. He’s already a deputy chairman of the party, and in April he was named as one of three possible candidates for the race. He resigned his executive position at investment capital firm Saratoga Investama Sedaya in 2015 but retains a major shareholding in the company, which has a solid stake in Adaro Coal. Other figures involved in Saratoga are Edwin Soerjadjaja and TP Rahmat. Sandi is also involved in Recapital, another investment firm, where he partners with Rosan Roslani, now the head of the Indonesian Chamber of Commerce and Industry (Kadin). 47. Luntungan Honoris, 67 Modern Group • Property, trading, mining $800 million The Honoris family has worked hard over the years to develop Modern Group, brushing off a range of shocks to the Indonesian economy over the years, demonstrating an ability to maneuver to safe ground when needed. The collapse of the photographic film and print industry, for instance, led to a successful shift to the 7-Eleven mini-mart franchise, which is managed by Sungkono Honoris’s son Henry. Patriarch Luntungan continues to manage the property business along with son William, while Siwie Honoris takes responsibity for Modern Industry which produces LED lamps and electricity equipment which it supplies to state power utility PT PLN. The family also has interests in mining and is said to be looking at the palm oil and energy sectors. The family has a big land bank in Jakarta and the surrounding area, providing a strong asset base. 48. Boenjamin Setiawan, 83 and family Kalbe Farma • Pharmaceuticals $800 million Boenjamin started his pharmaceutical business in his garage back in 1966 and has turned it not only into a major force in the regional pharmaceutical industry but has also branched out into consumer goods, where it competes head-on-head with industry giants, and in hospitals, under the Mitra Keluarga brand. Boenjamin’s main interest is stem-cell research and he has set up the Indonesia International Institute of Life Science (i3L) in collaboration with Swedish institutions and offering programs in healthcare, marine science and forestry. The institute’s mission, according to its website, is “to be a leading and globally connected interdisciplinary institution that impacts society through science and innovation.” In 1992 he founded Kalbis Institute, which concentrates on education in business and accounting and information science. Boenjamin handed over control of Kalbe Farma many years ago and it is now led by Bernadette Ruth Irawati Setiady. 49. Jusuf Kalla and family, 74 Kalla Group • Trading, heavy industry, shipping $750 million Vice President Jusuf Kalla plays no part in his family’s business empire, but it keeps growing without his hand anywhere near the tiller. Some say the mixture of politics and business has been very fruitful for the native of South Sulawesi and the Kalla Group has benefited from the many infrastructure projects being built in eastern Indonesia. JK, as he’s often known, is in his second term as vice president, having partnered with former President Susilo Bambang Yudhoyono in his first term of office. His tendency to speak his mind apparently upset Yudhoyono, who dumped him as his running mate in 2009. Following that, he went on to be the successful head of the Indonesian Red Cross before he was paired with Joko Widodo in the 2014 elections. He has been busy exercising his skills as a mediator to heal the deep rift in Golkar Party, where he is a former chairman. 50. Osbert Lyman, 66 Lyman Group • Property, plantations $740 million Osbert’s Lyman Group has long experience in the property business, having developed some prestigious Jakarta buildings such as Kota BNI. The group is now building Casa Domaine, a twin-tower development set on 12 hectares of land next to the Shangri-La Hotel. Osbert also has Kota Baru Parahyangan in Bandung. In plantations, the family controls a significant share in a total of 240,000 hectares of land, with around a third already planted with palm oil. The family interest in the plantations is managed under investment arm Lyman Investindo. 51. Jan Darmadi, 75 Jan Darmadi Group • Property $720 million A veteran property player Jan controls significant shares in prestigious property projects in Jakarta’s “golden triangle” central business district. Son Jeffrey Darmadi is in control of the operation of the company, developing buildings for residential and office space in the popular Setiabudi area of Kuningan. Jan himself retains a strong business and political network, assets that saw him take a place at the presidential palace as a member of President Widodo’s advisory team along with other businessmen such as Lion Group’s founder Rusdi Kirana and Sidarto Danusubroto, who is close to the family of former President Megawati Sukarnoputri. As one of the signatories to an offer of land at the Sumber Waras Hospital to the Jakarta city government, Jan – as head of the Sumber Waras Foundation – could get dragged into attacks on Jakarta Governor Basuki Tjahaja Purnama. 52. Prajogo Pangestu, 66 Barito Pacific Group • Petrochemical $710 million Well known as one of the most creative minds in Indonesian business, Prajogo turned around what was once the world’s largest plywood producer to concentrate on the petrochemical industry. He 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, while Prajogo is the president commissioner. 53. John Chuang, 66 Ceres Indonesia, Petra Food • Agribusiness, energy, investments $700 million John, together with his brothers Joseph and William, has done very well out of growing demand for chocolate as the middle class enjoys greater purchasing power. Petra Foods is now acknowledged as one of the world’s largest producers of cocoa and chocolate, with Swiss-based Barry Callebaut a shareholder. Popular chocolate brands Silver Queen, Ceres and Delfie have improved in quality over the years and can now take on major international brands. Born in Garut, West Java, John now most spends most of his time in Singapore taking care of the investment arm of the company and international marketing. Joseph prefers to stay in Cibitung, West Java, home of Petra’s branded products division. Youngest brother William takes care of subsidiary PT Ceres in Bandung producing bulk chocolate.54. Eka Tjandranegara, 69 Mulia Group • Property, industry $690 million Eka Tjandranegara controls a majority interest in Mulia Group, a major property developer which owns and manages thousands of square meters of office space in buildings under the Mulia brand, the hotel of the same name, and the prestigious Wisma GKBI. In Bali, the family operates 500 Mulia Resort rooms, making it one of the biggest resort operator on the island. The group also controls a high-end ceramic business and a glass-making operation which exports 65% of its production. In Papua New Guinea, the family controls shares in Papindo Group, which operates more than 40 supermarket outlets and department stores and other trading business throughout the country. Not surprisingly, Eka is well-connected, not least by marriage. His son Ekman Tjandranegara is married to Lareina Halim Kusuma, the daughter of Sugianto Kusuma. Brother Djoko Tjandra, on the other hand, is on the run after fleeing corruption charges in 2009. 55. Mucki Tan, 57 Rodamas Group • Infrastructure, energy, construction $660 million Mucki Tan is the second generation to lead Rodamas Group, which was founded by Tan Sioeng Kie. He has transformed it into a diversified business group with interests ranging from construction materials to consumer goods, with strong relationships with Japanese counterparts. Rodamas units include glass manufacturing with Asahi Flat Glass, personal care products with Kao Corporation, packaging with Dai Nippon and chemicals, also with Japanese partners. Recently the group entered the energy and construction sectors to tap into the booming infrastructure sector. Media-shy, he is rumored to enjoy a lavish lifestyle that includes throwing private parties for his friends and business partners. 56. Hutomo Mandala Putra, 54 Humpuss • Investment, shipping, property $655 million Tommy, as the often-controversial youngest son of the late President Suharto is known, has had a varied life: magnate, jail-bird and ladies’ man being just a few of his many starring roles. He recently threatened to nominate for the leadership of Golkar Party until it was pointed out that his jail time – which included a sentence for plotting the murder of a judge who had jailed him for corruption – made him unelectable. He continues to run the Humpuss Group, a major player in energy logistics with PT Humpuss Intermoda. He has property interests under KG Property, which developed superblock Mangkuluhur City at Semanggi in Central Jakarta and premium apartment complex Jayanti City. Going against the flow, he’s believed to have recently acquired some coal concessions in Kalimantan. He’s reported to be eyeing the proposed Makassar Energy Center, an integrated energy complex planned for the South Sulawesi capital. 57. Kuncoro Wibowo, 61 Ace Hardware • Houseware, equipment $655 million Kuncoro turned his late father Wong Jin’s small shop in Jakarta’s Glodok Chinatown into a sprawling do-it-yourself empire under the Kawan Lama Group. Operating under a license from the US brand, Ace Hardware stores offer under-one-roof convenience for home-related hardware from screws and power tools to dog collars and kennels. Listed Ace Hardware Indonesia has set aside up to Rp250 billion for expansion this year although vice president for investor relations Helen Tanzil has admitted that the company is keeping an eye on the performance of the economy. That includes the value of the rupiah, whose slide last year impacted the cost of imports. The company also operates Informa Furnishing, tool and gadget producer Krisbow and retailer Toys Kingdom. 58. George Tahija, 58 and Sjakon Tahija, 63 Austindo Nusantara Jaya • Agribusiness, insurance, renewable energy $650 million The Tahija brothers’ Austindo Nusantara Jaya has seen slowing income due to low prices for palm oil, one of their major lines of business. In the future, the sons of the late Julius Tahija stand to do well from renewable energy with their investments in the sago and palm business providing base material for biofuels, with extensive estates in Papua and Maluku. Demand for sago as a foodstuff is also increasing, with demand strong from eastern European countries. The group has 10,000 hectares planted with sago and a land bank of about 50,000 hectares. Sjakon is a major donor to the Global Fund, which fights against AIDS, tuberculosis and malaria, and is the main force behind the Jakarta Eye Center, one of Indonesia’s leading eye hospitals. George is the founder and chairman of the Coral Triangle Center (CTC) board of trustees and chairman of The Nature Conservancy (TNC) Indonesia Foundation. 59. Subianto Tjandra, 72 Ateja Group • Textiles, property $650 million Integrated specialty textile producer Ateja was founded by Subianto Tjandra and his brothers Agus Surjadi Tjandra and Kurniadi Muljana Tjandra. The company is the market leader in speciality industrial textiles and linings for the automotive industry and exports to more than 60 countries. The second generation has now taken charge, with Subianto’s son-in-law Beny Judiharja and Arifin Tjandra the leading figures. They continue to adopt the founders’ principles: that research and development are essential to maintain their market position, and that their company should be seen as one big family, with its 3,000 workers occupying positions of respect. 60. Harjo Sutanto, 76 Wings Group • Consumer goods $640 million A partner of Johannes Katuari in getting the Wings Group off the ground in the early years of Indonesia’s independence, what began as a small outfit has grown into an empire. Harjo and his family are said to control more than 35% of Wings Group, now the country’s second largest consumer goods producer after Unilever. Harjo and his wife Yenny Lilian have four children: Hanny, Fifi, Handoyo and Yenny Lillian. Oldest son Hanny is most active in business and is a director at a host of companies operated by Wings or in partnership. Meanwhile Fify takes the lead at Ecogreen, the Wing’s subsidiary active in oleo-chemical products. 61. Desi Sulistio Hidayat, 85 and family Sido Muncul • Herbal Medicine $640 million Desy Hidayat and husband Yahya Hidayat carried on her father’s business, Sido Muncul, developing the company from a small-scale maker of traditional jamu herbal drinks into the country’s largest herbal remedy maker, with good sales on export markets. Son Irwan Hidayat now runs the company, but applies his mother’s principle of maintaining unity and caring for the less fortunate. The company led the field in transporting all of its sales force back to their hometowns for the annual Idul Fitri holiday. Irwan continues to adopt his mother’s sense of humility, saying it’s her, not him, who deserves to be listed among Indonesia’s richest. And, he admits, he struggled to graduate from high school, preferring to sleep in late. 62. Bachtiar Karim, 59 Musim Mas • Plantations, chemicals $630 million As a major operator in the palm oil business, Bachtiar Karim has put Musim Mas on the offensive to defend itself against charges that it contributes to deforestation and carbon emissions. He has invested heavily to ensure that his company operates in a more environmentally friendly manner. The company has joined the Fire Free Alliance, responding to charges that the industry contributes to the fires that cause disastrous clouds of haze every year. The company has also signed the Indonesia Palm Oil Pledge to operate without destroying the environment, as well as joining the Sustainable Palm Oil Manifesto that promises to reduce carbon emissions. Bachtiar manages Musim Mas with brothers Burhan and Bahari. The group operates the largest palm oil refinery in Medan, North Sumatra and exports 80% of its product to the international market. It is also a big player in the production of biofuels. 63. Soegiharto Sosrodjoyo, 82 Rekso Group • Beverages, property $610 million The Javanese businessman is the third generation of a dynasty that made its fortune by doing what many people thought impossible: selling tea. His Rekso Group’s Teh Sosro is still a market leader in the drinks business, buoyed through a tie-up with fast-food seller McDonald’s Indonesia. The Soegiharto family also has interests in hotels in Jakarta and now in Bali, where this year it launched the five-star Jumeirah resort and hotel, in a tie-up with the Dubai-based group of the same name. 64. Sudhamek, 60 Garuda Food • Consumer goods $590 million Now a significant player in Indonesia’s consumer goods business, Sudhamek’s Garudafood rose to prominence on the back of smart packaging and marketing of the humble peanut. Sudhamek has developed Garudafood and investment arm Tudung Group from local players first into a regional role and they now pull their weight on the international stage. Sudhamek has stepped down from the top leadership position at his companies but continues to work on building the intangible assets of his companies: trustworthiness, integrity and being a good corporate citizen. He has a wide network of relationships across business and in many other areas of Indonesian society. 65. Sofjan Wanandi, 72 Gemala Santini • Automotive parts, batteries $580 million Sofjan has finally been able to relax a little after handing over leadership of the Indonesian Employers Association (Apindo), a major lobby group, but still acts as a senior member of the advisory group working with Vice President Jusuf Kalla. A former student leader along with his brother Jusuf, he was for many years the unofficial spokesman of the ethnic Chinese business community in its dealings with former President Suharto and he still speaks out on controversial issues. His business interests, which include the Gemala and Santini groups, are a major force in the global automotive battery market and his family also has interests in wide-ranging businesses including an alumina refinery project in Kalimantan. Sofjan, who has handed control of the companies to son Luki, was honored late last year with the award of the Order of the Rising Sun, Gold and Silver Star from the Japanese government for his contributions to bilateral relations. 66. AHK Hamami, 80 ABM Investment • Heavy equipment, energy, power $570 million AHK Hamami’s ABM Investment has been a major casualty of the government’s ban on exports of unprocessed mineral ores. Unit Trakindo Utama, as the distributor of US heavy equipment brand Caterpillar, was a major beneficiary of the mining industry but the ban on exports shrank the size of the industry dramatically. The group has responded by diversifying to tap opportunity in the energy market and recently opened a bonded zone warehouse serving the oil and gas sector. In 2015, Trakindo won an award for its investment in education at the International Asia Responsible Entrepreneurship Awards. Hamami has handed over operation of the business operation to his children Muki, Anasala, Mia and Bari. 67. Tan Kian, 58 Dua Mutiara • Textiles, hotels, property $570 million Tan Kian started in trading in the shrimp business as a young man along with his family and transformed himself into the owner and operator of some of Jakarta’s classiest properties. His company Dua Mutiara is a specialist property developer targeting premium-class customers. His Pacific Place shopping mall is the place to be seen and he owns the JW Marriot and Ritz-Carlton hotels, Plaza Mutiara office building and Syailendra Apartments at Mega Kuningan, all top-drawer properties. Appropriately, Tan enjoys the good life: his lavish lifestyle is known to extend to premium cars including a Ferrari. 68. Purnomo Prawiro, 69 Blue Bird Group • Transportation $560 million Once the uncontested king of the taxi business, Purnomo is facing a difficult period as the industry comes under siege from app-based transport applications like Uber and Grab. Formerly known as the most user-friendly taxi business, Blue Bird used that reputation to push aggressively into new markets, often upsetting small local operators. Now it is Blue Bird’s turn to confront the creative destruction of IT-based competition. Reports that the company backed a major demonstration of taxi drivers in Jakarta in March that turned ugly have done nothing to improve the company’s public face. Purnomo’s daughter Noni Purnomo has taken charge of the business and is having to look for a way out of its current problems. Blue Bird has strong foundations to take on the new opposition: it has nationwide operations with more than 24,000 taxis, limousines, buses and trucks. 69. Agus Lasmono Sudwikatmono, 45 Indika Energy • Coal mining, construction, energy $550 million While his energy and mining company Indika Energy is struggling from the plunge in prices of coal, Agus also has interests in media along with partner Wishnutama Kusubandio and other young businessmen including Erick Tohir. Their media stable includes rising stars NetTV and Radio Indika and a gossip tabloid. The TV station’s positioning as a channel for the young generation provides vastly different fare to the usual soaps. It shouldn’t be surprising that Agus knows how to keep youth engaged: in his youth he was the vocalist for thrash metal band Nosferatu. He’s credited with rescuing the fortunes of the Subentra Group of his late father Sudwikatmono and other family businesses when they were hit by the 1998 economic crisis. 70. Sutanto Djuhar, 87 First Pacific • Investments, property $545 million Sutanto Djuhar is the only surviving member of what was known as the “gang of four,” a powerful group of businessmen who prospered during the Suharto era. He founded numerous companies with different joint partnerships but mainly with the other members of the gang, business legend Lim Sioe Liong, Sudwikatmono and Ibrahim Risjad. He was the driving force in the creation of the Indocement business and Salim Group’s Bogasari Flour. Like Liem a native of Fujian in China, he was a major donor in helping development in the former poverty-stricken region. Sutanto is no longer involved in the business and leaves responsibility for the First Pacific Group to son Teddy Djuhar and Anthoni Salim. 71. Wiwoho Basuki Tjokronegoro, 77 Indika Energy • Coal mining, construction, energy $540 million Among the oil and gas community, Wiwoho is known as a real oil man, with a solid education and experience in the sector, gaining post-graduate degrees from the University of Kansas and Stanford University. He partners in Indika Energy with Agus Lasmono Sudwikatmono, and is president commissioner of the company. He is also a shareholder at Tripatra Group. Life is by no means all about oil: he has served as head of the Indonesian Keris Association and is an investor in a number of art galleries. He is married to artist Kartini Basuki, with whom he has three children. Son-in-law Wishnu Wardhana and son Indracahya Basuki play pivotal roles in Indika, guiding the company to become an integrated energy operation. 72. Heru Hidayat, 43 Inti Agri Resources • Fish Breeder, Energy $530 million Heru Hidayat of Inti Agro Resources (IAR) operates in fish breeding. He listed his company in 2009. Heru has been a pioneer in producing colorful aquarium fish including the popular Arowana species. A number of sub-species have been developed, including the Red Arowana. Business was not always a success: Heru started out in the fish breeding business with PT Inti Kapuas Arowana, but that failed to develop, and it was only when he formed IAR that he scored well with consumers. Not content with dominating the domestic market for the fish, he is now selling on export markets. He also has significant interests in coal in Kalimantan and in shipping company PT Trada Maritime. 73. Amirsjah Risjad, 49 Risjadson Group • Investment, plantations, energy $515 million The legacy of the late Ibrahim Risjad, one of the “gang of four” who prospered during the Suharto era, Risjadson Group is now run by siblings Amir, Rizal, Dina, Dedey, Selviya, Zarani and Radian. The group has significant investments in operations such as cement maker Indocement. With Amir taking the lead in management of the company, he has restructured the business, selling some cement assets and land in Kalimantan and turned to concentrate on energy, food and power plants. Amir sees financial benefit in foods, including a vegetable, ginger and tropical fruit business in East Java. The family also controls the majority of shares in small Bank RSI. 74. Hendro Gondokusumo, 66 Intiland • Property $510 million Hendro S Gondokusumo’s Intiland is finishing work on a number of major projects but letting others – including the huge Melati development in Central Jakarta - wait until the property market improves. His headquarters on Jakarta’s Jl. Jend. Sudirman says a lot about his style: its storied terraces are draped with greenery in what was an early Jakarta ‘green’ property. Concern for design is also evident at the South Quarter development on Jakarta’s southern ring road. The Fairpoint Apartment project in Kuningan, South Jakarta, also aims for the elite market. Hendro’s father fled to Indonesia to escape the war in 1940 and settled down in Malang in East Java. Hendro himself is strongly Jakarta-focused but he also has the Graha Golf development in Surabaya. Brother Triyono Gondokusumo is an integral part of the business and is married to Lanny Angkosubroto of the Gunung Sewu property group. 75. Iwan Budi Brasali, 69 and Aldo Brasali, 48 Brasali Group • Property, energy $510 million Under the umbrella of the Brasali Group, now headed by second generation member Aldo Brasali, the family runs various property projects, including hotels in major commercial centers managed by Mercure and Ibis. The family’s property arm PT Metropolitan Land Tbk. is expanding its business to tap middle-to-low income consumers with landed homes on the outskirts of Jakarta. In energy, the group controls Cikarang Listrindo, which produces power for the West Java industrial area. It is currently building a new 280-MW coal-fired power plant that is expected to be completed by the end of this year. The company will list on the Indonesia Stock Exchange this year in what analysts believe could be the biggest listing of 2016. Other interests include shares in listed Metropolitan Kentjana, which owns and operates Pondok Indah and Puri Indah malls. 76. Alim Markus, 65 Maspion Group • Homeware $507 million As the chairman of the East Java chapter of the Indonesia Employers Association (Apindo), Alim has been busy voicing concerns over rising regional minimum wages, which he says have hurt investment and business confidence. His diversified Maspion Group has been forced to offer early retirement packages for about 1,800 employees in a bid to cut costs. Outside his core businesses, which include home appliances and kitchenware, the group has been expanding into property, while the hospitality arm is building three- and five-star hotels in Bali. Maspion has also signed a deal with state port operator Pelindo II to construct a car terminal in Gresik, East Java, to speed new car deliveries between Jakarta and Surabaya. Alim has also been busy as the chairman of the Indonesian Chinese Business Council (ICBC), which has played an important role in encouraging Chinese funding for Indonesian SMEs. 77. Henry Pribadi, 69 Napan Group • Agribusiness, electronics, property, trading $505 million Henry Pribadi, the founder of the Nawa Panduta (Napan) Group, has re-organized his business empire under holding company PT Citrabumi Sacna, known as CBS Holdings, which now controls businesses in coal mining, agribusiness, general trading, construction and property. A relative of the Salim family, he fell out with Prajogo Pangestu over rights to giant petrochemical company Chandra Asri and it is not known how the dispute ended. Henry is known to be close to the Sariaatmadja family, which controls the majority stake at Elang Mahkota Teknologi, known as Emtek, which in turn controls the country’s second largest TV station, SCTV. 78. Kiki Barki, 77 Harum Energy Group • Mining $500 million As coal prices have tumbled over the past years, Kiki Barki has felt some of the pain and his Harum Group is reported to have lost some 45% of its value as a result of declining prices. He remains interested in the energy sector and is understood to be planning to contribute to the national drive to build an additional 35,000 MW of power generation capacity. Harum is now reported to be involved in a consortium including Arifin Panigoro’s Medco Group that is bidding to buy Newmont Mining’s Sumbawa gold and copper mine, in a bid to diversify out of coal, of which Harum has an estimated 487 million tons of reserves. Bandung-born Kiki was for many years a leading spokesman for the Chinese business community in its dealings with government. Day-to-day operations are now handled by son Lawrence. 79. Arifin Panigoro, 70 and Hilmi Panigoro, 60 Medco International • Energy $475 million The Panigoro family is understood to be part of a consortium that wants to buy PT Newmont Nusa Tenggara, which operates Indonesia’s second-biggest copper and gold mine, in a deal that could reach $2 billion. Newmont has said it’s not clear a deal can be reached. In another expansionary move, family-controlled energy company Medco’s geothermal unit Medco Power is reportedly keen to buy geothermal assets to be sold by multinational oil giant Chevron. Medco Power — in which Saratoga Capital also has a stake – where it is seen as competing with state energy company Pertamina. Arifin and Hilmi started oil and gas company Medco Energi Internasional in 1980. Arifin, keen to get involved in politics, then handed control to Hilmi. Medco, the country’s biggest listed oil and gas firm, has assets in Indonesia and overseas in Libya, Oman, Papua New Guinea, Tunisia, Yemen and in the Gulf of Mexico in the United States. 80. Rudy Suliawan, 65 Karang Mas Sejahtera • Hotels, property $490 million Rudy Suliawan is a hospitality industry veteran, renowned for his ‘Midas’ touch at the Ritz-Carlton Bali, where he works closely with veteran hotelier Horst Schulze. The businessman also established Ayana Resort and Spa and Rimba Resort in Jimbaran, Bali. Ayana in particular has become a favorite for Asian tourists, especially the Japanese. In Jakarta, Rudi, through PT Karang Mas Sejahtera, owns the Midplaza 1 and 2 office buildings and the adjoining five-star Jakarta Intercontinental Hotel and apartments. In Bogor, West Java, he has the Bukit Golf Residence and Golf Course. Son Ryu Kawano is working in the digital industry at payment gateway company Veritrans, while nephew Adi Kusma is in charge of Supra Primatama Nusantara, a fixed-line internet and multimedia provider that owns Biznet Networks. 81. Ginawan Tjondro, 62 CNI Group • Multi-level marketing $490 million Ginawan Tjondro is busy with his Istana Group, a property business he established 22 years ago. Partnering with Edi Sikamto Josana, Istana has expanded into various commercial, residential, hotel and resort properties and industrial estates. Assets include the Bandung Electronic Center (BEC) and other commercial centers in the West Java capital, and various landed house developments targeting the medium- to upper-income range. The group also runs Sofitel hotels and the budget Quest hotel in Bali. Ginawan is known as the pioneer of multi-level marketing (MLM) in Indonesia through his popular brand CNI, an abbreviation of Citra Nusa Insani, where he partners with Abrian Nathan. 82. Jimmy Masrin, 54 Lautan Luas Group • Chemicals, paper, trading $480 million Jimmy Masrin is the driving force in Lautan Luas, a producer of industrial chemicals listed on the stock exchange in 1997. Established in 1951, Jimmy and his brother Indrawan took over the firm from their father Adyansyah Masrin, turning what had been a basic chemical importer into an integrated producer and distributor of more than 1,000 chemical products for more than 2,000 industrial end-users throughout the Asia-Pacific region. Jimmy is also involved in sports and charity. He is currently busy preparing the Asian Tour golf tournament that will be held at Royale Jakarta Golf Club in October. He is chairman of the board of the Asian Tour, the official body for professional golf in Asia. He is also a member of the board of Habitat for Humanity International and of Happy Hearts Indonesia, a foundation that helps rebuild schools damaged by natural disasters. 83. Sugiono W Sugialam, 55 and Kindarto Kohar Trikomsel • Telcommunications, retail $480 million Sugiono’s mobile phone retailer Trikomsel hit major trouble at the end of last year, when it missed coupon payments on S$225 million worth of bonds. That led ratings agency Standard & Poor’s to warn of potential defaults by Indonesian firms. The situation remains unresolved, with four directors of the company resigning in April. Trikomsel, 19.9%-owned by Japan’s SoftBank, said a restructuring was needed as the rupiah’s weakening against the US dollar and the slowdown in Indonesia’s economy had resulted in “substantially” declining earnings and “significantly reduced cash flow.” That found the bondholders cut out of payments in favor of an intercompany claim. Trikomsel operates retailers Okeshop, Global Teleshop and Trikomsel. 84. Harry Sanusi, 49 Kino Group • Consumer Goods $470 million Harry Sanusi has become a rising star in the Indonesian fast-moving consumer goods business due to his innovative approach at his Kino Group, which concentrates on personal care products, candies and snack foods. One of his keys to success has been good advertising, using well-known figures to endorse the products. He quit his training as a pharmacist when he received an offer to help a friend of his father with distribution of a tonic that wasn’t selling well. He succeeded there and over the following 20 years has built a major enterprise. At the end of last year he sold 16% of the group’s shares on the Indonesia Stock Exchange, raising Rp868.5 billion. Harry plans to keep expanding by acquiring more international brands, as he has already done with Japan’s Morinaga. 85. Mohammad Reza Chalid, 56 Global Energy Resources • Oil trading $460 million Reza Chalid’s current whereabouts is unknown. He disappeared at the height of a major political scandal in Indonesia with his alleged involvement in high-level lobbying to grab a large slice of miner Freeport Indonesia. The miner’s chief went public with a secret recording of a conversation in which then House of Representative Speaker Setya Novanto asked for a 20% stake in the company, estimated to be worth billions of dollars. Reza’s name appeared again in the Panama Papers, leaked documents from a Panama law firm that shook the world over alleged widespread tax evasion and money laundering by politicians and international figures. There was no evidence of wrongdoing, but Reza apparently didn’t want to stick around to answer questions about that and his relationship with major figures. He was long seen as a force in the international oil trading market, helped by close relationships with power-holders since the Suharto era. 86. Trihatma K Haliman, 64 Agung Podomoro Group • Property $450 million Trihatma’s Agung Podomoro group has hit some financial turbulence with the downturn in the propety market. The group also ran into some legal headwinds over the land reclamation project in North Jakarta.PT Agung Podomoro Land president director Ariesman Widjaja is currently banned from traveling due to the case, which has also touched many other leading property players. Founded by Trihatma’s late father Anton Haliman and Salimin Prawiro Sumarta, the group has projects across the spectrum of the property business, including landed housing, mixed-used developments, hotels, apartments and super blocks. 87. Rosan Roeslani, 47 Recapital • Investments, private equity $450 million Rosan, the head of Recapital Group, is busy with his new position as chairman of the country’s most influential business lobby, the Indonesia Chamber of Commerce and Industry (Kadin), where he will be in charge through to 2020. The position means he is a regular presence on the overseas trips of President Joko Widodo and in mid-May he was prominent on the state visit to South Korea, where he facilitated a discussion between Indonesian business players and their counterparts in the North Asian giant. Rosan says his mission at Kadin is to consolidate the business community and make Kadin a worthy partner for government in formulating policies. The businessman, who set up PT Recapital Advisor in 1997 with former schoolmate Sandiaga Uno, was president director at Berau Coal in 2013 and is also involved in Mahaka Media, owner of radio and TV stations, newspapers and magazines. 88. Hendro Setiawan family Pikko Group • Property, investment $450 million Pikko group chairman Hendro Setiawan died in Singapore last March. Last year was a big year for the group with the completion of Jakarta’s tallest office tower, the Sahid Sudirman Center, in which it partnered with the Sahid Group and Tan Kian Consortium. Pikko Group was also working on the high-rise residential property Menteng 37 and mixed-use development Thamrin District Bekasi. Founded in 1982, the Pikko Group has developed various residential buildings, hotels and commercial space, among others Thamrin City in Central Jakarta and Tamini Square in East Jakarta. Planned future projects included two more Jakarta properties, the mixed-use Grand Kemayoran development and residential high-rise Lebak Lestari, in Lebak Bulus. 89. Kris Taenar Wiluan, 67 Citra Mas Group • Energy, manufacturing $450 million As head of Batam-based PT Citra Tubindo Tbk., which provides services to the oil and gas and mining industries, Kris Wiluan’s prospects have been hit by the double blow of the government’s ban on unprocessed mineral exports and the slide in the price of oil on international markets. The company has gained a reputation for world-class standards but this year was forced to trim its revenue target to $160 million from $180 million. The expertise of Citra Tubindo was demonstrated when it helped deliver an oil drilling rig for Pertamina Drilling Services for its operations in Algeria. Chris was the winner of the Ernst & Young Entrepreneur of the Year award in 2009. 90. Dahlan Iskan, 64 Jawa Pos Group • Media, mining, energy $445 million Dahlan left a lot of legal homework after he ended his term as minister of state-owned enterprises. Associate Dasep Dahmadi, a member of a team that Dahlan appointed to develop a national electric car, was sentenced to seven years in jail in March for corruption. Dahlan’s national electric car program turned into a disaster after it was found that Dasep did not really make electric cars, but only modified ordinary cars and passed them off as electric-powered. Dahlan escaped another legal case over his alleged role in the irregular procurement of power transformers, estimated to have cost the state hundreds of billions of rupiah in losses. The former minister is a media mogul. His Jawa Pos Group boasts more than 200 newspapers, 20 local TV stations, a paper mill and printing plant with its own power plant. 91. Surya Dharma Paloh, 65 Media Indonesia • Media, hotels, catering,energy $440 million Surya Paloh is not only influential in business but also in media and politics. He has maneuvered his National Democratic Party (Nasdem) into a position as a kingmaker despite its modest electoral performance. His media group includes the influential Metro TV 24-hour news channel, an important tool in shaping opinions. In politics, as an early supporter of Joko Widodo’s presidential aspirations he has three of his party members in the cabinet and the Attorney General is a former member of the party. He was influential is advising the president to end the role of the infamous Petral oil trading company as the sole agent for Indonesian fuel purchases. Most recently, a team from his Sukma Foundation was apparently involved in negotiations to help free Indonesian seamen held hostage by the Abu Sayyaf militant group in the southern Philippines. 92. K. Gowindasamy, 69 Mitra Jaya Group • Energy, plantations, construction $430 million Gowindasamy started out in the construction business working on government road projects in Jakarta and other cities. The businessman and his Sumber Mitra Jaya Group then went into mining as a coal contractor for state-owned Aneka Tambang. This led the Medan-born businessman to seize the opportunity to run his own mines. He has since expanded into palm oil plantations and crude palm oil mills. He has units engaged in packaging and ink production which would have helped him weather the crash in commodities prices. He also has interests in the construction sector in India. 93. Yos Sutomo, 84 Sumber Mas • Timber, property $430 million Yos Sutomo and his family have been in the plywood business for more than 40 years and have now turned their focus to producing high-quality veneers. Yos started his business in 1966 in his hometown of Samarinda in East Kalimantan, and developed the business to export plywood to major markets including Europe. He also established three hotels and two golf courses in Kalimantan and set up a coal mining business through PT Kartanegara Indah Permai. The family appears to have fallen on tough times: education institutions established under their Sumber Mas Foundation have been forced to close recently due to lack of funding. 94. Sukamdani Sahid Gitosardjono, 88 Sahid Group • Property, hotels, industry $425 million Sukamdani Sahid’s business empire is now led by his son Hariyadi Sukamdani, who is also the chairman of the Indonesian Employers Association (Apindo). Sukamdani himself is still active in the business and last year was able to brag that his family now owns the largest office building in Indonesia, the Sahid Sudirman Center, inaugurated by President Joko Widodo on his 87th birthday. A joint venture between Sahid Group, Pikko Group and Tan Kian Consortium sank Rp1.5 trillion into the building. Many other projects are in the pipeline, including a Rp750 billion superblock in Yogyakarta, a condotel and apartments in Semarang and Surabaya, a mid-range apartment block in East Jakarta, a two-star hotel in Surabaya, and a mixed-use development in Timika, Papua. Sukamdani established the Sahid group in 1953, beginning as a modest hotel operator, and the enterprise is now one of the leading hotel chains in the country. 95. Rudolph Merukh, 50 and Lucky Merukh, 51 Merukh Enterprises • Mining concessions $400 million Founded by the late Jusuf Merukh, Merukh Enterprises is now helmed by his sons Rudolf and Lucky. The family business took a big risk to establish a gold mining operation in Aceh during the peak of the government’s conflict with the Free Aceh Movement (GAM). The gamble paid off, leading to further investments in the mining sector which have grown to include a solid stake in PT Newmont Nusa Tenggara, which operates the second biggest copper and gold mine in Indonesia. The wider family is not always in harmony. Gustaaf Merukh, a relative who owns a stake in local company Pukuafu Indah, is suing other shareholders in the company, including his own nephews, according to a Reuters report. Fortunately there is no sign at this stage that either of the brothers has inherited their father’s love of litigation. 96. Jahja Santoso, 71 Sanbe Farma • Pharmaceuticals $390 million Jahja Santoso founded pharmaceutical company Sanbe Farma in 1975, building the company into the country’s biggest producer of ethically prescribed drugs. In 2012 Sanbe inaugurated a plant that produces anti-cancer products that is supported by high-tech equipment like isolator units and inline production machines. The plant is designed to be fully compliant with US and European pharmaceutical standards, opening a wide consumer market for the Bandung-based company. Sanbe is an exporter of pharmaceutical products to 22 countries in Southeast Asia, Africa and the Middle East. Jahja is a pharmacy graduate from the Bandung Institute of Technology. In 2015, he inaugurated his group’s second hospital in Kopo, Bandung, claimed to be the city’s most advanced hospital. He strongly believes in the need for good research and development, founding the Sanbe Biotech Research Division in 2001. His group also produces animal and acquaculture vaccines and medicines. 97. Sabana Prawirawidjaja, 74 Ultrajaya Group • Food Beverage Business $385 million Sabana, the president director at Ultrajaya, complained in a note in the company’s annual report that last year was a tough one for the food and beverage industry in Indonesia, particularly in the ultra high temperature (UHT) milk business, with a flood of competition from overseas producers. He really had no reason to grumble: the company posted net income of Rp523.1 billion, up 84.8% from the previous year, with all other financial indicators showing the company to be healthy and stable. Sabana and his father Ahmad Prawirawidjaja started Ultrajaya Milk Industry in 1959, and the company operates its own dairy farms. It has expanded into packaged tea products and health drinks made from beans and tamarind. Some of its products are sold on overseas markets. 98. Tatang Hermawan, 65 Fuju Palapa Textiles, Bank Parahyangan • Textiles, property, hotels $380 million Tatang’s business in the textile sector has struggled in the past few years with market demand slowed by weak global economic conditions. Tatang controls stakes in non-listed textile companies including Fuju Palapa, PT Nam Nam Fashion, PT Warna Makin Mulia, PT Central Georgette Nusantara. He also owns a resort property through PT Oriental Indah Bali Hotel and in banking he has a stake at PT Bank Nusantara Parahyangan Tbk., a Bandung-based listed lender. 99. Iwan Lukminto, 40 Sritex Group • Textiles, garment, property $350 million Iwan Setiawan Lukminto admits that taking over the leadership of Sritex, one of Indonesia’s biggest garment manufacturers, from his late father wasn’t easy. As the crown prince at the company, he started to reform management and corporate culture back in 2000. Becoming president director in 2005, he steered the company to a public listing in 2013. Now, Sritex is the largest integrated textile companies in Southeast Asia, best known for the military uniforms it sells to more than 70 countries. It is in the process of acquiring a German uniform-maker, which will provide a springboard for further expansion in Europe. In May Moody’s ratings agency hiked its outlook on the company from stable to positive, reflecting strong operating performance. 100. Djoenaedi Joesoef, 83 Konimex • Pharmaceuticals $360 million Djoenaedi began in business in 1967 with a small pharmaceutical store in Solo, Central Java. Now his Konimex group is one of the largest regional business entities in Indonesia with diversified businesses ranging from property and hotels to packaging. Djoenaedi has four children, Edijanto, Rijanto, Lisa and Rachmadi, who now run the businesses. Edijanto looks after Konimex while Rijanto helms subsidiary PT Catur Putra Jati. He is tapping the hotel business with the Holiday Inn Express in Semarang and other properties in Solo and Bandung. Another subsidiary is PT Surya Multi Indopack, which operates in the packaging business.
101. Didi Dawis, 70
Ling Brothers • Trading, property
Didi Dawis oversees trading and property company Ling Brothers but now spends more of his time running several non-profit organizations. These include LPK Indonesia Bersatu which campaigns for the recognition of the role of Chinese-Indonesian figures in the nation’s history. It also acts as a charitable organization assisting members of the ethnic Chinese community who originated from China’s Fujian and Shandong provinces. He has been the chairman of the board of QAF Ltd., a diversified food company listed in Singapore. He also has interests in trading, building materials and property. Didi was formerly the co-chairman of the Indonesian Chamber of Commerce (Kadin) China Committee.
102. Muljadi Budiman, 61
Honda Prospect Motor • Automotive distribution
Honda Prospect Motor, the sole distributor of Honda cars in Indonesia, has been accelerating to steal a bigger share of the Indonesian car market. Still shadowing Toyota as the second most popular brand, HPM has done well out of a range of new models, including the mini-SUVs the BR-V and HR-V. The multi-purpose Mobilio also won consumers’ hearts last year. HPM was established by the late Hadi Budiman (Ang Kang Hoo) and Muljadi has done well managing the sole distributor and assembler of Honda cars in Indonesia. This year, HPM is keen to expand its dealer networks.
103. Oesman Sapta Odang, 66
OSO Group • Investments, retail
The feisty chairman of the Indonesian Farmers’ Association (HKTI), Oesman Sapta Odang is also a deputy chairman of the People’s Consultative Assembly (MPR). The businessman started life selling cigarettes at the ferry terminal at his hometown Pontianak in West Kalimantan, and today his business interests range from fisheries to airlines and property. He has an airline ground-handling company and owns the Stones Hotel in Bali. He has handed control of OSO Group to Tanri Abeng so he can be more active in politics. An attempt to overthrow the leadership of the Indonesian Chamber of Commerce and Industry (Kadin) proved to be a failure but Oesman has shown in the past that occasional setbacks don’t blunt his desire to push for change. In a recent speech in Padang, West Sumatra, he called for steps to increase national unity, which he said had suffered over the past few years.
104. Boyke Gozali, 67
Mitra Adi Perkasa • Retail, property
A partner in leading lifestyle retailer Mitra Adi Perkasa (MAP), Boyke recently teamed up with Rosano Barack, formerly one of the driving forces in Bambang Trihatmodjo’s Bimantara Group. MAP has transformed Indonesia with its range of retail brands and now operates 1,809 retail outlets in 59 major cities throughout Indonesia. Boyke is a central figure in listed property developer PT Plaza Indonesia Realty Tbk., which controls Jakarta’s Grand Hyatt Jakarta and Plaza Indonesia, the pioneer in the modern retail sector in Jakarta. In June last year, Boyke welcomed Industry Minister Saleh Husin to the groundbreaking ceremony of PT Plaza Indonesia Jababeka’s Mayfair industrial estate at Karawang in West Java.
105. Chandra Lie, 52 & Hendry Lie, 50
Sriwijaya Air • Airline
The two brothers run Sriwijaya Air, which made its first flight in 2003 with only a single aircraft but now operates 38 planes flying to 41 domestic and international destinations. Chandra established a new airline, Nam Air, to compete in the more lucrative full-service segment, operating five aircraft. Sriwijaya Air has expanded its international routes to include Hangzhou, Ningbo and Nanking, linking the three Chinese cities with Denpasar in Bali. Chandra has signed letters of intent to procure 100 locally-made R80 turboprop planes. In addition to their aviation business, the brothers also have interests in mining.
106. Benny Suherman, 69
Studio 21 Group • Cinema chain
Benny Suherman is a veteran cinema businessman of 28 years. For many years he enjoyed a monopoly over top-end cinemas and while he is now facing stronger competition his Cinema 21 remains the nation’s controlling cinema chain. Blitzmegaplex emerged as a minor competitor only in the past decade and now Lippo Group’s Cinemaxx has entered the market, with plans to expand to 2,000 screens in 300 locations across 85 cities by 2024. Meanwhile Cinema 21 has over 770 screens in 145 locations all over Indonesia. Not only is the company adding more cinemas, Cinema 21 is also investing in the latest silver-screen technology, such as Imax screens and Dolby Atmos audio systems.
107. Henry Onggo, 83
Ratu Sayang Group • Property
Henry was an early investor in the modern property sector. He controls property developer PT Ratu Sayang International, whose fortune was founded on the acquisition of the prime Jakarta office location where the Ratu Plaza shopping, office and apartment complex now dominates the southern end of Jl. Jend. Sudirman. Henry also has interests in textiles through PT Unitex, a Bogor-based manufacturer and exporter of polyester and cotton fabrics. Unitex is a subsidiary of Unitika Limited, a Japanese company. Henry’s son Johnny Onggo has been a commissioner of PT Unitex Tbk. and serves as a director of PT Ratu Sayang International.
108. Johnny Widjaja, 82
Sintesa Group • Property, chemicals, plantations
Veteran businessman Johnny Widjaja has passed on the torch of leadership of his Sintesa Group to his eldest daughter Shinta Widjaja Kamdani. She has proven herself not just capable of consolidating and modernizing the family business, but to also take on the big boys of the industry. The family firm was started in 1919 by Johnny’s father, Oey Kim Tjiang, as a rubber plantation company. It has now become one of Indonesia’s most diversified groups, involved in property, energy, manufacturing and consumer products. Sintesa has 18 subsidiaries, with two listed on the Indonesia Stock Exchange: PT Tigaraksa Satria (consumer products) and PT Tira Austenite (industrial products).
109. Paulus Tumewu, 64
Ramayana Group • Retail, property
Paulus Tumewu opened his first Ramayana Fashion Store 38 years ago. Today his retail empire has flourished into 116 Ramayana, Robinson and Cahaya stores, selling everything from shoes to clothes and food and spanning the distance from North Sumatra to Papua. To develop its retail food business, Ramayana has inked a deal with global retailer Spar from the Netherlands to refurbish and rebrand all Ramayana supermarkets to become Spar outlets. The first three stores opened last year. The plan is to have 15 stores up and running by the end of this year, and a total of 30 within two years.
110. Soetjipto Nagaria, 76
Summarecon • Property
Soetjipto founded Summarecon in 1975. The company is famed for transforming swamp land in North Jakarta into the popular Kelapa Gading residential area. Summarecon has revealed plans to expand into nine regions across Indonesia: Bandung and Bogor in West Java; Tangerang in Banten; Yogyakarta; and cities in Central Java, East Java, South Sumatra and Sulawesi. Soetjipto grew his wealth mainly through the development of land banks, often by taking over smaller property firms and using them to start new projects. In just one example, his Selaras Maju Mandiri acquired a majority stake in smaller property player Sinergi Mutiara Cemerlang. Soetjipto and his wife Liliawati Rahardjo are active philanthropists.
111. Siswono Yudohusodo, 73
Bangun Cipta Sarana • Construction, livestock breeding
Siswono Yudohusodo founded construction company Bangun Cipta Sarana in 1969. The company worked on numerous projects including the development of Belawan Port in Medan. Siswono also controls several subsidiaries engaged in clean water distribution, livestock breeding, real estate, property and hotels. He was one of the first indigenous businessmen to make it big. Siswono in the past served as minister of public housing and then as minister of transmigration. He was running mate to Amien Rais in an unsuccessful bid for executive office in 2004. He now spends much of his time focusing on his agro-tourism business Umbul Sidomukti in Central Java.
112. Winarko Sulistyo, 69
Fajar Surya Wisesa • Pulp and paper
Winarko Sulistyo has over 30 years of experience in the paper industry and became a commissioner of pulp and paper company PT Fajar Surya Wisesa in May 2014 after running the company as president director since 1987. The company is a leading packaging paper manufacturer producing a range of products which include linerboard and corrugated medium paper for carton box packaging and coated duplex board for display packaging. Currently operating with five paper machines, FajarPaper produces around 1.2 million tons of packaging paper per year. The company’s new production facility in Bekasi, West Java, its eighth, will have a production capacity of 350,000 tons per year which will increase total production capacity to 1.55 million tons. Airlangga Hartarto, a leading figure in Golkar Party, has been president commissioner of the firm since 1988.
113. Tan Tjai Kie, 62
Gunung Garuda Steel • Steel production, mining
$275 million (2016)
Tan was the first to demonstrate that there was money to be made in steel in a market long dominated by state-owned behemoth PT Krakatau Steel. His Gunung Steel Group (GSG) is a one-stop shop for all steel products and related services. The group comprises PT Gunung Garuda, PT Gunung Raja Paksi, PT Bukit Terang Paksi Galvanizing and PT Gunung Raja Paksi, Founded in 1986, the company produces 1.95 million tons of steel annually, of which 50% is exported to 41 countries. This year, the group is building its own smelter.
114. Kaharudin Ongko, 79
Ongko Group • Property, manufacturing
Kaharudin made a sound investment when he joined with PT Keramika Indonesia Assosiasi, the first Indonesian company to produce ceramic tiles and sanitary-ware, from which the Ongko Group has grown. He bought out the other shareholders and developed KIA into Indonesia’s fifth-largest ceramic producer. Thailand’s Siam Cement Plc. purchased 93.5% of the company in 2011. In property, the company owns several assets in Jakarta and controls the Omni International hospitals in Alam Sutra and Pulomas through the Omni Healthcare Group. Omni Hospital Alam Sutera boasts special units for neurosciences, cardiac care, an orthopaedic center, urology center, eye center, and skin and beauty center.
115. Pontjo Sutowo, 65
Nugra Sentana Group • Hotels, property, energy
Pontjo Sutowo owns the Nugra Sentana Group and is a major shareholder in about 30 companies including a marine dry dock and PT Indobuildco, which manages the Jakarta Convention Center, the Sultan Hotel and apartments and other properties. Pontjo also has interests at the MRA Group, which is active in radio and magazines, as well as a pharmaceutical company. He is head of the Communication Forum for Children of Retired Police and Military Officers (FKPPI) and has served as chairman of the Indonesian Hotels and Restaurants Association (PHRI). The Sutowo family’s fortune rose when Pontjo’s father, the late Ibnu Sutowo, was appointed head of Pertamina in the early years of the New Order era.
116. Johanes B. Kotjo, 70
Apac Group • Textiles
Johanes Kotjo made his fortune by getting close to the center of political power. He spent over a decade climbing the corporate ladder at a Salim Group company before going into business with Suharto son Bambang Trihatmodjo and others to form Apac Group. In its early days, the company had diversified interests but now Kotjo is low profile and concentrates on his core businesses of textiles, plantations, coal and infrastructure in Sumatra, including through PT Pathaway International, which was planning a 300-km coal railway in Bengkulu as well as dredging projects.
117. Sendi Bingei, 87
Sumatra Tobacco Trading • Tobacco, food
Sendi Bingei is a pioneer in the tobacco industry in North Sumatra. He shares ownership of PT Sumatra Tobacco Trading Company with family members Edwin and Timin Bingei. The company, based in Medan, produces white cigarettes for export markets, while its sister company manufactures and sells some lesser-known cigarette brands popular with cigarette fanciers in Sumatra. His PT Sari Incofood Corporation is engaged in tea and coffee processing and is now one of the largest instant coffee and packaged cappuccino exporters in Indonesia. The company’s best known brand is award-winning Indocafe, sold across the country and overseas.
118. Sri Sultan Hamengkubuwono X, 71
Sultan of Yogyakarta • Property
Sultan Hamengkubawono X is governor for life of the special region of Yogyakarta but he is having problems determining his succession. He has named the eldest of his five daughters, Gusti Kanjeng Ratu (GKR) Pembayun, as crown princess, upsetting a hornet’s nest of dissent that has included the coronation of a rival sultan. He also changed his name as part of the process. Hamengkubawono, as he is now, became sultan in March 1989. To appoint his daughter as his successor, he issued a sabdaraja (royal proclamation) on the succession at a meeting attended by just a few of his family and close advisers. The sultan is still working hard in the governor’s office and recent steps include a move to rebrand the city of Yogyakarta. The sultan’s wealth derives from estates and assets that have feudal roots. Land rent is the main source of his income, and he owns a small cigarette-making company.
119. Anton Setiawan, 70
Tunas Group • Automotive distribution, multi-finance
With over 30 years’ experience in the automotive business, Anton has represented both Japanese and European vehicle brands. His initial agency opened in 1976 and he now sells and services Toyota, BMW, Daihatsu and Peugeot vehicles as well as Honda motorcycles. Anton introduced modern management systems to the company, winning many awards for his business acumen. In 2006 he took the prestigious Ernst and Young Award for his dedication to developing entrepreneurship in the country. Rico Setiawan, 42, is now president director of the group and has continued the task of making it one of the best automotive dealerships in Indonesia.
120. Budi Purnomo Hadisurjo, 79
Optik Melawai • Hospitality, retail, food and beverage
Budi began with an optical services business with a store in the South Jakarta street where his company Optik Melawai still retains a branch. What has now become the Melawai Group represents a holding company active in optical goods and services, pharmaceuticals, hearing aids and restaurants. Optik Melawai continues to lead group performance, representing Indonesia’s largest eye-wear retailer with more than 150 outlets including several spin-off stores selling specialty items. In the restaurant sector, Sari Rasa Group owns the Tham Nak Thai, Sate Khas Senayan, Tamani Kafe and TeSate chains.
121. Elizabeth Sindoro, 58
Dan Liris, Paramount Group • Textiles, property
Lisa Sindoro took the helm of the family business after the death of her husband Handiman Tjokrosaputro. He was the second generation to lead Batik Keris, a company founded by Kasom Tjokrosaputro. A former top executive with Lippo Group, Lisa has also grown her own integrated textile business Dan Liris into a significant player. Dan Liris now rates as a world-class textile producer, selling to brands including Marks and Spencer with exports to more than 20 countries. Lisa also has property interests through the Paramount Group. Her hotel business, operated through Parador Hotel and Resort, is expanding with 12 hotels already operating and 16 more under construction.
122. Ilham Habibie, 53 and Thareq Habibie, 51 Ilthabi Rekatama • Plantations, airline, industry
Moving ever closer to reviving his father’s dream of launching a domestic aircraft industry, Ilham was appointed as the head of the National Technology Information and Communications Commission by former President Susilo Bambang Yudhonoyo. He plans to launch the narrow-body R-80 aircraft this year. Local airline companies such as Trigana Air, Kalstar Aviation and Nam Air have placed orders for at least 145 aircraft. With brother Thareq, he runs an investment holding company, Ilthabi Rekatama, which has interests in energy, mining, manufacturing, transportation and aviation services. The company’s push into coal-bed methane has also proved successful with the granting of a number of concessions.
123. Karmaka Surjaudaja, 83
OCBC NISP • Banking
Karmaka Surjaudaja was known as Kwee Tjie Hoei when he arrived in Indonesia from Fujian in China in 1934. He was critical in establishing one of Indonesia’s earliest banks, Bandung-based NISP. Karmaka is also known to have helped thousands of poor children, helping fund their education from elementary to university level, with some obtaining PhDs. A film is now being made about his life and deeds. He sold 74% of the bank’s shares to Singapore’s OCBC in order to help it grow. Now, as OCBC NISP, the bank is led by his daughter Parwati Surjaudaja.
124. Bambang Trihatmodjo, 63
Asriland • Property
The late President Suharto’s second son, Bambang always prefers to stay out of the public spotlight. He founded PT Bimantara Citra in 1981 with a group of friends who once played in a band together. They started out in the energy business and then diversified into a range of other ventures. Most of Bimantara’s interests have now been taken over by Hary Tanoesoedibjo, who transformed Bimantara into what is now media company PT Global Mediacom Tbk. Bambang is said to have sold his remaining 11% shares in the company but is known to still own Asriland, which controls some prestigious property developments.
125. Rachmat Gobel, 54
Gobel International • Electronics, investment
After leaving the job of trade minister in the cabinet reshuffle in August 2015, Rachmat is back managing his business, Gobel International, the Indonesian side of a long-standing partnership with Japanese major Matsushita. Rachmat is active in groups including the Indonesian Chamber of Commerce and Industry (Kadin). He has developed a reputation as an avid environmental campaigner, and heads the Indonesian Society for Renewable Economy. In tune with his Japanese partners, Rachmat is a strong believer in efficiency and research and development. PT Gobel International now plans to develop a tourism resort and a water treatment plant in West Nusa Tenggara. In electronics, Panasonic Global Indonesia continues to perform well in the highly competitive market.
126. Samin Tan, 54
Borneo Lumbung Energy and Metal • Mining
Samin’s current status is unclear. He got involved in the fight between Aburizal Bakrie’s Bumi Resources and British banker Nathaniel Rothschild in the deal that created Bumi Plc. To get involved, he had to put up his Berau Coal as collateral, weighting the formerly wealthy company down with debt. The company has now been taken over by Sinar Mas Group’s investment arm Asia Coal Energy Ventures (ACE) and in December last year it began buying back its notes as part of a debt-restructuring program. It was not clear how Samin himself came out of the deal but in January a report said he had filed for bankruptcy at his plywood and sawmill plant, PT Tunggal Yudi Sawmill Polywood (TYSP), at the Surabaya court due to failure to pay mounting debts of at least Rp140 billion.
127. Stanley S Atmadja, 60
Asco Automotive • Multi-finance, agriculture
Stanley Atmadja spent more than two decades working with PT Adira Dinamika Multifinance, the company he founded and steered to its position as one of the leading automotive financing companies in the country. Stanley founded Adira in 1990 with the late Adi Rachmat, father of Teddy Rachmat of the Triputra Group. In 2004 Bank Danamon acquired 75% of Adira. Stanley has since teamed up with Teddy to form Asco Automotive, a dealership for Isuzu, Nissan and Daihatsu vehicles, and PT Green Planet, which produces organic fertilizer. Holding company Asco Capital has now expanded to employ around 1,200 people. Stanley is known as a keen collector of vintage automobiles.
128. GS Margono, 76
Gapura Prima • Property
Gunarso Susanto Margono has been at the helm of property firm PT Perdana Gapuraprima since 1987. The company, listed on the stock exchange in 2007, has significant holdings in Jakarta and further afield. Commercial and residential developments in Jakarta and surrounds include The Bellagio and Bellagio Mansion at Jakarta’s Mega Kuningan, CBD Serpong, The Belmont Residence, de Eastern, GP Plaza and the Marcopolo Water Adventure Park in Serpong. Gunarso’s son Rudy became president director of the group in 2007. Gapura is expanding into the hotel business and some of the company’s apartment projects have been converted to hotels. This year, GS Margono is developing mid-class apartments on the outskirts of Jakarta.
129. G Lukman Pudjiadi, 59
Jayakarta Group • Property, hotels
Two listed companies are controlled by Lukman and his family. Pudjiadi Prestige and PT Pudjiadi and Sons control the Jayakarta hotel chain, which operates 13 hotels and resorts in various parts of Indonesia and has built a number of medium-scale apartment blocks in Jakarta and Bandung. Subsidiaries include PT Bali Realtindo Benoa, PT Jayakarta Realti Investindo and PT Hotel Juwara Warga. Lukman oversees Jayakarta Group but day-to-day operations are handled by his son Loki. The group recently entered the budget hotel segment with the construction of J-Hotel.
130. Widarto, 71
Sungai Budi Group • Plantations, agribusiness
The Sungai Budi Group has long been one of the country’s large upstream food producers with a sound record for innovation. Established by Widarto in Lampung in 1947, the company has production facilities in West and East Java, Lampung and Jambi and produces potatoes, tapioca and chemical products. Its Lampung assets are well known for producing all of their own energy. Last year the group planned the construction of a sugar plant. Sungai Budi has a stake in PT Tunas Baru Lampung, which produces Rose brand vegetable cooking oil and rice flour. Budi Group controls 60% of the tapioca market in Indonesia.
131. Mardjoeki Atmadiredja, 68
Surya Toto Indonesia • Sanitary ware
Mardjoeki’s listed Surya Toto Indonesia is helmed by son Hanafi Atmadiredja and is the manufacturer and distributor of Toto brand sanitary and plumbing products and bathroom accessories. The company prefers to concentrate on just one line of business. Consistent development over the past two decades has enabled the company to establish itself as a leader in the field. Japanese principal Toto Ltd. controls nearly 40% of the company, while Mardjoeki controls investment vehicles which are believed to own a substantial share. Toto is expanding by building new plants to boost production to 3 million units per year.
132. Siti Hardijanti Rukmana, 67
Citra Lamtoro Gung Persada • Toll roads, investment, property
Siti Hardijanti Rukmana, the oldest daughter of the late President Suharto, still controls Citra Marga Nusaphala Persada, the most profitable toll-road operator, although she has relinquished leadership to her daughter Danty Indriastuty Purnamasari. Citra Lamtoro established a joint venture with San Miguel Corp. of the Philippines to acquire an indirect equity interest in the South Luzon Tollway Corporation (SLTC) and Manila Toll Expressway Systems Inc. This year, CMNP completed the Cikampek-Palimanan toll road, a major part of the trans-Java highway. In April, she was found by the Supreme Court to have failed to meet her obligations to PT Berkah Kaya Bersama, in a long-running case contesting ownership of Hary Tanoesodibjo’s MNC TV. Tutut, as the businesswoman is usually known, is now required to pay Rp510 billion to Berkah to settle the fight.
133. Shindo Sumidomo, 61
Siantar Top • Food, property
Shindo Sumidomo’s Siantar Top is a leading food and snack producer in Sumatra, producing hundreds of brands such as Go Potato and Soba Mie Sedaap. Shindo, also known by his Chinese name of Heng Hok Soei, is a big player in the Medan business world along with characters such as Martua Sitorus of Wilmar Group and Sukanto Tanoto of Royal Golden Eagle. Shindo has diversified to palm oil as well as five-star hotels and mixed-used property in Medan. Siantar Top’s other subsidiaries are PT Shindo Tiara Tunggal, PT Saribumi Alam Indonesia, PT Saritama Tunggal and PT Semestanustra Distrindo. Meanwhile PT Saritama Food Processing operates in Bekasi on Jakarta’s eastern boundary.
134. Iskandar Widyadi, 80
Bank Jasa Jakarta • Banking, property
Iskandar controls a majority of shares in Bank Jasa Jakarta through PT Widya Raharja Dharma. Along with other businessmen, including Mochtar Riady of the Lippo Group, he is the founder of Ma Chung University in Malang, East Java. The university focuses on nurturing the spirit of pluralism and teaches the latest in international education practices, a commodity in strong demand in the employment market.
135. Ricardo Gelael, 56
Fast Food Indonesia • Kentucky Fried Chicken franchise, supermarkets
Ricardo Gelael is still going strong in the fast-food business. He succeeded the late founder Dick Gelael and now controls PT Fast Food Indonesia Tbk., which has the exclusive rights to operate KFC restaurants in Indonesia. Fast Food operates more than 495 KFC outlets all over Indonesia and is still expanding. Like many consumer-related companies, KFC has profited from the rise of the middle-income class. A former race driver, Ricardo is Dick’s eldest son and Ricardo’s own son Sean is now a top race driver. KFC obtains all its funding from its internal resources and has no debts.
136. Anna Bambang Surjo Sunindar, 62
Kirana Tanker • Shipping
No information is available this year on this businessman. He used to own 30% of PT Trans Pacific Petrochemical Indotama (TPPI) but the government seized the operation and control passed to Pertamina after the company defaulted on loans to its creditors, leading to its bankruptcy in September 2012. Even though Pertamina had taken over, TPPI submitted an application for suspension of debt payment obligations to the Commercial Court. That application then led to a restructuring plan that was approved by TPPI creditors and the Jakarta Commercial Court in December 2012. Little is known about Honggo’s assets, wealth or personal life but he was a long-term partner of businessman Hashim Djojohadikusumo.
137. Honggo Wendratno, 68
Arsari Pratama • Energy, petrochemicals
No information is available this year on this businessman. He used to own 30% of PT Trans Pacific Petrochemical Indotama (TPPI) but the government seized the operation and control passed to Pertamina after the company defaulted on loans to its creditors, leading to its bankruptcy in September 2012. Even though Pertamina had taken over, TPPI submitted an application for suspension of debt payment obligations to the Commercial Court. That application then led to a restructuring plan that was approved by TPPI creditors and the Jakarta Commercial Court in December 2012. Little is known about Honggo’s assets, wealth or personal life but he was a long-term partner of businessman Hashim Djojohadikusumo.
138. Rudy Unjoto, 67
Daliatex Kusuma • Textiles
Rudy is the managing director of PT Daliatex Kusuma. His company is one of a number that has created solid niche markets in the textile market. It produces 40 million meters of woven fabrics and other related products annually, with 90% going to export markets such as Korea and China. Rudy also manages to source the vast majority of his raw materials domestically, with only 10% imported from countries in North Asia. Rudy is one entrepreneur who believes that the ASEAN Economic Community offers nothing but benefit for Indonesia.
139. A Tong, 71
Roda Vivatex • Textiles
A Tong is a low-profile businessman whose PT Rodatex produces polyester-filament woven fabrics for domestic as well as European, US, Asian and Middle East markets. The listed company is headquartered in Bogor and is known for its GENO trademark, standing for Georgette Number One. Established in 1980, the company began production in 1983 and is run by professionals. A Tong rarely appears in public.
140. Batihalim Stefanus, 51
Nojorono Tobacco • Cigarettes
Batihalim Stefanus is now at the helm of Nojorono Tobacco, founded in 1932 by brothers Tjoa Kang Hay, Tan Tjiep Siang and Tan Kong Ping at Pati in Central Java. They expanded to Kudus by taking on new partners Ko Djie Sion and Tan Dhing Dhay. Although the company’s products are rarely visible in big cities, with the exception of popular brand ClassMild, launched in 2003, they have a strong hold on smokers in many small cities and villages across Java. Nojorono owns cigarette subsidiaries producing Aroma, Minak Djinggo, Matra and other cigarette brands, each catering to different niche markets.
141. Mintarjo Halim, 61
Sandratex • Textiles
Mintardjo Halim’s PT Sandratex is a joint venture with Hong Kong interests. He also has a joint venture in Cambodia to produce woven shirts and blouses. Mintardjo served as the head of the Africa committee of the Indonesian Chamber of Commerce and Industry (Kadin), a position that provided strong links to some of the world’s leading cotton-producing countries. He was at one stage planning to invest in Nigeria where he was offered 4 million hectares of land to plant cocoa, coffee and oil palm. He has also floated the idea of establishing cotton warehousing in Indonesia: normally, imports from Europe have to go through Malaysia and his plan would bring imports directly to Indonesia, benefiting local traders. New government regulations favoring the development of industry-specific logistics centers appear to support his plan.
142. Soedjono, 67
Wira Sakti Adimulya • Property, trading
Soedjono’s Wira Sakti Adimulya operates in the upper end of the property market. His company took charge of building Metro Marina, a luxury townhouse project at Ancol in North Jakarta in a joint venture with the local government’s PT Pembangunan Jaya Ancol and real estate management and development company PT Paramitha Mitra Sejati. Soedjono is known to control large land banks in Kapuk, West Jakarta and Kelapa Gading in North Jakarta.
143. Fajar Suhendra, 68
Sumatra Growth Group • Steel production
Fajar Suhendra’s Sumatra Growth Group (SGG) controls PT Indoferro, operator of a steel and nickel foundry in Cilegon, Banten. Fajar, 63, partnered with Singapore’s Lee Metal to establish Indoferro, which produces 250,000 tons of nickel pig iron per year. SGG is a collective of investors that mainly focuses on the steel business. The company also deals in power, with three biomass power plants already in operation and plans to develop a total of 20. Fajar’s son Radius is now at the helm of Indoferro.
144. Jacobus Busono, 76
Pura Group • Printing, energy
Jacobus Busono is king of the printing and packaging industry. His grandfather started a small printing company in 1908 and when it came Jacobus’ turn to take charge, he turned it into the market leader by investing heavily in sophisticated technology. Now the company generates most of its revenue from printing smart cards, phone vouchers, bank notes, holographs and other high-value items. Four subsidiaries have contracts to print currency for Brunei Darussalam, Vietnam, India and a number of African countries. Pak Bus, who is fluent in German, English, French and Dutch, was the sole Indonesian member of former French President Nicolas Sarkozy’s World Entrepreneurship Group. He has also steered his company into renewables with an environment-friendly stove and a plan to grow jarak, a source of bio-fuels, in Kudus, Central Java
145. A Siang Rusli, 54
Kurnia Tetap Mulia • Entertainment, property
A Siang is a respected businessman in Medan who runs the Kurnia Tetap Mulia Group. He has strong support from the local community in the North Sumatra capital for his role in developing the city’s economy. Known as a tough but successful operator, he is a shareholder in the JW Marriott hotel and owns several other properties. He is related to Ishak Charlie, another prominent businessman in Medan who also partners in the JW Marriott. The businessman is rarely seen in public or pictured in the media.
146. Bambang Setijo, 74
Pan Brothers • Textiles
Bambang’s PT Pan Brothers Tbk. is one of Indonesia’s best-performing textile firms. Pan Brothers aims to boost production this year by constructing two new factories and doubling the number of its machines. Pan manufactures knitted garments such as polo shirts, lightweight jackets and pants. The company currently has 10 plants spread across Banten, West and Central Java. Pan Brothers supplies garments to international retailers including Nike, H&M and Lacoste, and its sales are denominated in dollars. Bambang maintains his interest in the company through his investment vehicles PT Trisetijo and PT Sarana Integritas. He also has a minority share in Hana Bank. Other investors in Pan Brothers include the Keris Group, represented by Anne Patricia Sutanto, and Ganda Sitorus, brother of Martua Sitorus of Wilmar.
147. Tandean Rustandy, 58
Arwana Citramulia • Ceramics
Tandean started his ceramics business Arwana Citramulia in 1993, after an initial start in trading three years earlier. Kalimantan-born Tandean has proven himself a force in the ceramics industry over the past 20 years. He has a new plant in Mojokerto, East Java which will provide capacity for market expansion. Tandean is a believer in “happy workers are productive workers” and likes to imbue Christian teachings in his management style. He started life in Pontianak, but after elementary school in his hometown he shifted to Singapore and Toronto for his education before completing his studies with a business degree from Colorado University in 1987.
148. Setiawan Djody, 67
Setdco Group • Shipping, oil and gas, property
Setiawan Djody owns the diversified Setdco Group. Shipping of energy projects was a long-term money-maker starting from 1975, and the group has expanded into property, energy, agribusiness and telecommunications. The company also operates several oil fields overseas. A painter and guitarist, he staged the Kantata Takwa concerts in the mid-1990s with rocker friend Iwan Fals. However the friends have since fallen out: Iwan won a case in the West Jakarta District Court in January, with Djody ordered to pay the singer and songwriter Rp200 million over a disagreement over television rights to a performance. Meanwhile Angkasa Pura Airports has signed a memorandum of understanding with Djody’s Setdco Mahaya to lay the groundwork in designing and developing the proposed Airport City near Juanda International Airport in Surabaya.
149. Marimutu Maniwanen, 61
Busana Apparel Group • Textiles
Maniwanen has succeeded in maintaining his reputation in business circles despite the collapse of his relative’s Texmaco empire. He is chairman and CEO of the Busana Apparel Group, one of Indonesia’s biggest textile manufacturers, and is also president commissioner of Eratex Djaja. His companies include PT Ungaran Sari Garment and PT Citra Abadi Sejati, with factories in Purwakarta and Cikarang in West Java. The group produces high-quality men’s and women’s garments and has developed long-term relationships with a number of major international clients from North America and Europe, including brands such as Adidas, Calvin Klein, Esprit, Macy’s, Marks and Spencer, Nike, Ralph Lauren, Tommy Hilfiger and more.
150. Ishak Charlie, 61
Arga Citra Kharisma • Hotels, palm oil
Ishak is involved with A Siang in Kurnia Tetap Mulia as an owner of Medan’s JW Marriott Hotel and is president director of PT Indoterminal Belawan Perkasa, which in the past was contracted to operate Medan’s Belawan port crude palm oil terminal and pipeline network. He is also in the palm oil business and is a commissioner at PT Agra Citra Kharisma (ACK). Like his business partnet A Siang, he maintains a low profile.
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