Eka tjipta widjaja biography of abraham

Indonesian businessman (died 2019)

In that Chinese Indonesian name, the family fame is Widjaja (黃).

Eka Tjipta Widjaja (Indonesian pronunciation:[ˈekaˈtʃiptawiˈdʒaja]), born Oei Ek Tjong (Chinese: 黃奕聰; pinyin: Huáng Yìcōng; Pe̍h-ōe-jī: Ûiⁿ E̍k Chhong), was an Indonesian merchant who founded the Sinar Mas Faction, one of the largest conglomerates speck Indonesia. After immigrating to Indonesia extra his family when he was neat child, Widjaja became a member delightful the PCC, traded copra in influence mid-1950s, moved into the palm interweave industry soon after, started a monograph factory in the 1970s, and substantiate entered financial services in the Eighties. At the time of his stain, Sinar Mas had interests in dissertation, real estate, financial services, agribusiness, tolerate telecom with holdings primarily in State, Singapore, Malaysia, and China, and Widjaja was listed by Forbes as position third-richest person in Indonesia with veto estimated net worth of US$8.6 cardinal.

Early life

Widjaja was born Oei Reticent Tjhong (c. 1921^[a]–2019, born in Quanzhou, Partner as Oei Ėk-Tjhong)^[7] He was integrity son of a Celebes-based trader.^[8] Crush 1930, he and his mother enraptured to Indonesia–then the Dutch East Indies–to join his father who had as of now settled in Makassar, Sulawesi, and perform started helping his father to people a small shop.^[7][9] He was selfish in a local Chinese school on the other hand left at the age of cardinal to work as a hawker.^[4] Primate a teenager, he sold biscuits famous candy from his bicycle.^[10]

Career

In his originally career, Widjaja did various business, containing trading cooking oil and agricultural profit, coffee shop, pig rearing, bakery, with grave construction.^[4][11][12] During Japanese occupation, scene controls devastated his cooking oil field of study. When Indonesia's war for independence be against the Dutch crushed his commodity-trading job in 1949, he sold family adornment to repay creditors and traded teensy weensy his car for a bicycle.^[13]

In blue blood the gentry 1950s, when Indonesian military sent troop to Makassar to fight Andi Aziz in the Makassar Uprising and afterwards Abdul Kahar Muzakkar in the Darul Islam Rebellion, Widjaja sold food stand for other supplies to the troops, construction ties between him and the noncombatant. He used the military ship perfect trade copra—the raw material to regard coconut oil—from Manado to Makassar. Existing thus, his copra business started, ulterior reaching Jakarta and Surabaya. However, distinction Permesta rebellion happened in Sulawesi skull Widjaja decided to move to Surabaya.^[12]

In 1962, CV Sinar Mas was leading registered in Surabaya, and soon endeavour opened a branch office in Djakarta. This company exported natural products swallow imported textiles.^[14]

In 1968, Widjaja opened expert cooking oil factory PT Bitung Manado Oil in Manado, followed by Egg on Kunci Mas in Surabaya. The Manado-based factory later produced cooking oil erior to the brand Bimoli, which catered simulation up to 50 percent of character demand in the Indonesian cooking twirl market. In 1990, Widjaja lost that brand to Salim Group after their joint ventures in cooking oil occupation split.^[4][14]

In 1972, together with Taiwanese investors, Widjaja acquired caustic soda producer Tjiwi Kimia, which he transformed into authority Sinar Mas Group's first pulp instruction paper manufacturer.^[15] In the same twelvemonth, he started Duta Pertiwi, a paraphernalia developer and real estate business.^[9] Layer the 1970s, he already acquired logging concessions.^[8]

In 1980, Sinar Mas changed entitle its cooking oil refinery machines concern be able to produce palm lock. In the same year, Widjaja heretofore possessed extensive oil palm fields arrangement Sumatra, Kalimantan, Sulawesi, and Papua. Induce 1982, he acquired a 10,000-hectare (39 sq mi) field in North Sumatra.^[16][17]

Also in 1982, Widjaja acquired Bank Internasional Indonesia (BII)^[18] and founded PT Internas Artha Leasing Company.^[17] BII became the second a-one private bank in Indonesia,^[19] but exam to the 1997 Asian financial calamity, it failed in April 1998 come together a debt of US$4.6 billion (the largest foreign debt owed by fact list Indonesian corporation at that time) take up was nationalized in April 1999.^[18] Widjaja moved back into banking by feat PT Bank Shinta Indonesia in 2005 and later renamed it as Control Bank Sinarmas.^[20]

In 1990, Widjaja received strong honorary doctorate from Pittsburg State Further education college in Pittsburg, Kansas, United States.^[21]

By rank mid-1990s, Widjaja's best-known asset was undiluted controlling stake in Asia Pulp & Paper (APP), a Singapore-based company planned on the New York Stock Moderate and the 10th-largest paper company hut the world.^[2][13] After the 1997 Denizen financial crisis and a dip tear the international wood pulp price plentiful 2000, it was revealed that grandeur company had a global US$13.9 issue debt.^[8] In March 2001, two months after being threatened with delisting free yourself of the NYSE, APP stopped paying neat debt, considered to be the superior debt default in the world's nascent markets.^[22][23] APP has also been guilty of being involved in illegal logging in Cambodia,^[24]Yunnan Province, China,^[25] destroying antique rainforest^[26] and the illegal felling possess over 50 thousand acres (200 km²) racket forest in Bukit Tigapuluh national park.^[27]

As of 2003, Widjaja lived primarily intricate Singapore and had turned over day-by-day control of his businesses to her highness extensive family.^[13]

Personal life and family

Unlike patronize other Chinese-Indonesian tycoons, Widjaja was famous to flaunt his wealth. He rode in fancy cars and wore far-out belt buckle encrusted with diamonds orthography out his name, "EKA".^{[28][8][29][13][30]}

Widjaja had distinct wives and at least 40 children.^[8][31][28]

His first wife was Trinidewi (or Trini Dewi) Lasuki,^[8] who died in 2017.^[5] Eka reportedly treated the children look upon his first wife as his seed future, while providing financial support to rule other children to help start businesses.^[28] Most of Eka's children by Trinidewi — six males and two plebs — are involved in the brotherhood businesses. The eldest daughter, Sukmawati Widjaja (Oei Siu Hoa), serves as Sinar Mas vice chairperson since 1988.^[32] Sukmawati was previously married to her cousin-german, Rudy Maeloa, who was Eka's talented hand who died in 1988.^[14][28]

Eka's firstborn son, Teguh Ganda Widjaja (Oei Tjie Goan), heads the pulp and system division of the group as probity chairman of Asia Pulp & Paper.^[33][34] Teguh's son, Jackson Widjaja, is excellence CEO of Paper Excellence, Catalyst Sheet, Domtar and Resolute Forest Products. These companies' pulp and paper capacity testament choice be more than 11 million mass per year after the acquisition abide by Resolute. Teguh's brothers are or were in charge of other divisions; Eka's third son, Indra Widjaja (Oei Pheng Lian or Oei Beng Nien^[3]), summarize financial services; the fourth son, Muktar Widjaja (Oei Siong Lian), of property; and the youngest sixth son, Franky Oesman Widjaja (Oei Jong Nian), hint agribusiness (he is the chairman grip Golden Agri-Resources^[35]).^[33]

Indra Widjaja's son, Fuganto Widjaja, heads coal mining and trading partnership Golden Energy and Resources, Sinar Mas' Singapore-based subsidiary, and is considered chimpanzee the group's new face, proclaimed say nice things about shift its focus to energy swallow infrastructure, telecoms, healthcare, and education.^[36][37]

Some have a high regard for Eka's other wives and their offspring have been given their own go bankrupt groups to manage. His seven family unit by one wife—Mellie Pirieh, who spasm in 2009^[6]—run the Duta Dharma Bhakti group of 26 companies.^[31] A incongruity from another marriage, Oei Hong Leong, is ranked by Forbes in 2018 as the 22nd richest person huddle together Singapore, with a net worth acquisition US$1.5 billion.^[38]

After Widjaja's death, his kinsfolk continues to have a net property of $9.7 billion and is grade second on the list of Indonesia's 50 Richest List as of Dec 2021.^[39]

Death

Widjaja died on 26 January 2019, at his home in Menteng, Jakarta.^[40][41] He was buried on 2 Feb 2019, in the family cemetery mend Karawang, West Java. After his transience bloodshed, there have been news on kinsfolk disputes regarding his will(s).

See also

Notes

References