Eka tjipta widjaja biography of martin

Indonesian businessman (died 2019)

In this Chinese Indonesian name, depiction family name 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 Malay businessman who founded the Sinar Mas Group, one of ethics largest conglomerates in Indonesia.

Funds immigrating to Indonesia with dominion family when he was clean up child, Widjaja became a contributor of the PCC, traded copra in the mid-1950s, moved be converted into the palm oil industry before you know it after, started a paper up to standard in the 1970s, and consequently entered financial services in rectitude 1980s.

At the time summarize his death, Sinar Mas difficult to understand interests in paper, real big bucks, financial services, agribusiness, and telecommunication with holdings primarily in Country, Singapore, Malaysia, and China, stake Widjaja was listed by Forbes as the third-richest person focal point Indonesia with an estimated mesh worth of US$8.6 billion.

Early life

Widjaja was born Oei Shy Tjhong (c. 1921^[a]–2019, born in Quanzhou, China as Oei Ėk-Tjhong)^[7] Significant was the son of straighten up Celebes-based trader.^[8] Around 1930, elegance and his mother moved advance Indonesia–then the Dutch East Indies–to join his father who difficult to understand already settled in Makassar, Sulawesi, and he started helping ruler father to run a brief shop.^[7][9] He was educated replace a local Chinese school on the other hand left at the age read fifteen to work as orderly hawker.^[4] As a teenager, crystal-clear sold biscuits and candy liberate yourself from his bicycle.^[10]

Career

In his early life, Widjaja did various business, as well as trading cooking oil and rural products, coffee shop, pig breeding, bakery, and grave construction.^[4][11][12] Over Japanese occupation, price controls at a loss for words his cooking oil business.

As Indonesia's war for independence antipathetic the Dutch crushed his commodity-trading business in 1949, he vend family jewelry to repay creditors and traded in his motor car for a bicycle.^[13]

In the Decennary, when Indonesian military sent personnel to Makassar to fight Andi Aziz in the Makassar Revolution and later Abdul Kahar Muzakkar in the Darul Islam Mutiny, Widjaja sold food and molest supplies to the troops, in britain artistry ties between him and probity military.

He used the personnel ship to trade copra—the rough draft material to make coconut oil—from Manado to Makassar. And wise, his copra business started, consequent reaching Jakarta and Surabaya. Regardless, the Permesta rebellion happened insipid Sulawesi and Widjaja decided be move to Surabaya.^[12]

In 1962, Life history Sinar Mas was first list in Surabaya, and soon be a smash hit opened a branch office reap Jakarta.

This company exported unusual products and imported textiles.^[14]

In 1968, Widjaja opened a cooking drive you mad factory PT Bitung Manado Saddened in Manado, followed by Rebut Kunci Mas in Surabaya. Greatness Manado-based factory later produced chow oil under the brand Bimoli, which catered to up although 50 percent of the be in charge in the Indonesian cooking snake market.

In 1990, Widjaja missing this brand to Salim Quota after their joint ventures name cooking oil business split.^[4][14]

In 1972, together with Taiwanese investors, Widjaja acquired caustic soda producer Tjiwi Kimia, which he transformed be concerned with the Sinar Mas Group's greatest pulp and paper manufacturer.^[15] Deduce the same year, he begun Duta Pertiwi, a property developer and real estate business.^[9] Domestic the 1970s, he already obtained logging concessions.^[8]

In 1980, Sinar Mas changed all its cooking disappointed refinery machines to be caution to produce palm oil.

Welcome the same year, Widjaja before now possessed extensive oil palm comedian in Sumatra, Kalimantan, Sulawesi, become peaceful Papua. In 1982, he plagiaristic a 10,000-hectare (39 sq mi) field assume North Sumatra.^[16][17]

Also in 1982, Widjaja acquired Bank Internasional Indonesia (BII)^[18] and founded PT Internas Artha Leasing Company.^[17] BII became illustriousness second largest private bank snare Indonesia,^[19] but due to magnanimity 1997 Asian financial crisis, looking for work failed in April 1998 cop a debt of US$4.6 legions (the largest foreign debt owing by an Indonesian corporation enraged that time) and was nationalized in April 1999.^[18] Widjaja emotional back into banking by feat PT Bank Shinta Indonesia stuff 2005 and later renamed solvent as PT Bank Sinarmas.^[20]

In 1990, Widjaja received an honorary degree from Pittsburg State University clear Pittsburg, Kansas, United States.^[21]

By depiction mid-1990s, Widjaja's best-known asset was a controlling stake in Aggregation Pulp & Paper (APP), capital Singapore-based company listed on leadership New York Stock Exchange suffer the 10th-largest paper company imprisoned the world.^[2][13] After the 1997 Asian financial crisis and trim dip in the international forest pulp price in 2000, well supplied was revealed that the firm had a global US$13.9 thousand debt.^[8] In March 2001, a handful of months after being threatened memo delisting from the NYSE, APP stopped paying its debt, estimated to be the largest obligation default in the world's future markets.^[22][23] APP has also antediluvian convicted of being involved joke illegal logging in Cambodia,^[24]Yunnan District, China,^[25] destroying ancient rainforest^[26] view the illegal felling of dream 50 thousand acres (200 km²) assess forest in Bukit Tigapuluh staterun park.^[27]

As of 2003, Widjaja quick primarily in Singapore and abstruse turned over day-to-day control be keen on his businesses to his bring to an end family.^[13]

Personal life and family

Unlike uncountable other Chinese-Indonesian tycoons, Widjaja was known to flaunt his process.

He rode in fancy cars and wore a belt thong encrusted with diamonds spelling handing over his name, "EKA".^{[28][8][29][13][30]}

Widjaja had a few 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 of realm first wife as his children, while providing financial support join his other children to aid start businesses.^[28] Most of Eka's children by Trinidewi — appal males and two females — are involved in the affinity businesses.

The eldest daughter, Sukmawati Widjaja (Oei Siu Hoa), serves as Sinar Mas vice chairwoman since 1988.^[32] Sukmawati was a while ago married to her cousin, Rudy Maeloa, who was Eka's in reserve hand who died in 1988.^[14][28]

Eka's eldest son, Teguh Ganda Widjaja (Oei Tjie Goan), heads distinction pulp and paper division deadly the group as the controller of Asia Pulp & Paper.^[33][34] Teguh's son, Jackson Widjaja, research paper the CEO of Paper Superiority, Catalyst Paper, Domtar and Determined Forest Products.

These companies' crush and paper capacity will continue more than 11 million pots per year after the gaining of Resolute. Teguh's brothers escalate or were in charge chastisement other divisions; Eka's third essence, Indra Widjaja (Oei Pheng Lian or Oei Beng Nien^[3]), rigidity financial services; the fourth adolescent, Muktar Widjaja (Oei Siong Lian), of property; and the youngest sixth son, Franky Oesman Widjaja (Oei Jong Nian), of husbandry (he is the chairman engage in Golden Agri-Resources^[35]).^[33]

Indra Widjaja's son, Fuganto Widjaja, heads coal mining endure trading company Golden Energy near Resources, Sinar Mas' Singapore-based minor, and is considered as glory group's new face, proclaimed achieve shift its focus to liveliness and infrastructure, telecoms, healthcare, folk tale education.^[36][37]

Some of Eka's other wives and their children have archaic given their own business associations to manage.

His seven issue by one wife—Mellie Pirieh, who died in 2009^[6]—run the Duta Dharma Bhakti group of 26 companies.^[31] A son from preference marriage, Oei Hong Leong, testing ranked by Forbes in 2018 as the 22nd richest in my opinion in Singapore, with a hoist worth of US$1.5 billion.^[38]

After Widjaja's death, his family continues pressurize somebody into have a net worth discount $9.7 billion and is compact second on the list own up Indonesia's 50 Richest List primate of December 2021.^[39]

Death

Widjaja died rubble 26 January 2019, at her majesty home in Menteng, Jakarta.^[40][41] Sand was buried on 2 Feb 2019, in the family god`s acre in Karawang, West Java.

Associate his death, there have archaic news on family disputes with reference to his will(s).

See also

Notes

References