Sudono Salim

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Sudono Salim
Liem Sioe Liong
[1]
Born(1916-07-16)16 July 1916
Fuqing, Fujian, China
Died11 June 2012(2012-06-11) (aged 95)
ResidenceIndonesia
Other namesLiem Sioe Liong
CitizenshipIndonesia
Occupationbusinessman
Years active1972-2012
Home townJakarta
Net worthUS $655 million
Board member ofSalim Group
Spouse(s)Lie Las Nio
Children3 sons: Albert Salim, Anthoni Salim, Andree Halim; 1 daughter: Mira Salimyuiu
Sudono Salim
Traditional Chinese
Simplified Chinese
Hanyu PinyinLín Shàoliáng
Indonesian name
IndonesianLiem Sioe Liong

Sudono Salim (16 July 1916 – 10 June 2012), also known as Liem Sioe Liong, was an Indonesian Chinese businessman of Fuqing origin. He was the richest individual in Indonesia.[2] He was the founder and chairman of the conglomerate Salim Group before turning over its management to his youngest son Anthoni Salim (now the fifth wealthiest person in Indonesia[3]) in 1992.

Early life[edit]

In 1916, Salim was born as Lim Sioe Liong (Lin Shaoliang), in Fuqing, Fujian, China, the second son of a father. According to the Chinese zodiac, he was born in the Year of the Dragon, on the seventh day of the seventh month.[4]

In 1936, he left Fujian to join his brother Lim Ke Lok and brother-in-law Zheng Xusheng in Medan, North Sumatra.[2] Salim diversified their peanut oil trading business into the clove market, which was growing rapidly from demand for production.[5] While in Medan, he supplied soldiers of the Indonesian National Revolution with medical supplies and came into contact with Suharto, an officer of the army. Salim denied allegations that he also provided arms to Indonesian soldiers to resist Dutch forces.[6] As soldiers seized Dutch businesses following independence, his business absorbed many of their assets and gained a monopoly in the clove market,[5] but he denied working with Suharto in expanding his ventures.[7]

Business career and family[edit]

In 1952, after moving to Jakarta, Salim expanded his trading business by establishing connections with other ethnic Chinese businessmen in Singapore and Hong Kong. His soap factory became one of the primary suppliers to the Indonesian National Armed Forces. He later expanded into textiles and banking, eventually establishing the largest private bank in Indonesia—the Bank Central Asia (BCA). The bank was nationalized following the Asian financial crisis.

In 1968, after a merger, he gained the right to a monopoly on clove importation. Bogasari, a joint venture with another Hokchia businessman became the largest producer of flour in Indonesia. These two companies were said to have provided him with the capital to establish the cement giant Indocement in 1973.[6]

In 1990, he established the food manufacturer Indofood, the country's largest maker of instant noodles.[8][9]

In 1992, Salim handed over management of the conglomerate Salim Group to his son Anthony Salim.

By 1997, the Salim Group possessed US$20 billion in assets and included more than 500 companies employing over 200,000 Indonesians. When the Asian Financial Crisis hit, the conglomerate incurred US$4.8 billion in debts[10] and had to give up control of Bank Central Asia in 1998 to the government.[11] BCA was 30% owned by two offsprings of Suharto.[12]

During the May 1998 riots, Salim fled to Singapore after a mob burned his home in Jakarta; his son remained to fight off the mobs and formed the Salim Group.[13] He eventually settled in Los Angeles in the United States.[10] Forbes magazine listed him as the 25th wealthiest businessperson in Southeast Asia in 2004 with a net worth of US$655 million.[14]

Salim has three sons and one daughter.[6][15]

Death[edit]

On June 10, 2012, a month before his 96th birthday, Salim died from natural causes in Raffles Hospital, Singapore. He is buried at the Lim Chu Kang Cemetery.

See also[edit]

Notes[edit]

  1. ^ "Archived copy". Archived from the original on 2011-09-28. Retrieved 2011-09-25.CS1 maint: Archived copy as title (link)
  2. ^ a b Suryadinata 1995, p. 139
  3. ^ Forbes.com
  4. ^ Borsuk, Richard; Chng, Nancy (2013). Liem Sioe Liong's Salim Group : the business pillar of Suharto's Indonesia. Institute of Southeast Asian Studies. p. 22. ISBN 9789814459570.
  5. ^ a b "A Tradition of Mistrust". South China Morning Post. 15 March 2000. Archived from the original on 19 October 2006. Retrieved 31 January 2010.
  6. ^ a b c Suryadinata 1995, p. 140
  7. ^ Suryadinata 1995, p. 141
  8. ^ http://bschool.nus.edu.sg/Portals/0/images/Media/PrintMedia/2012/Jun/20120612_Suharto-assoc-who-helped-transform-Indonesia_FT.pdf
  9. ^ Witular, Rendi A. (26 June 2004). "Salim in driving seat at Indofood". The Jakarta Post. Archived from the original on 7 June 2011. Retrieved 1 February 2010.
  10. ^ a b Shari, Michael (28 September 1998). "Indonesia: A Tycoon Under Siege". BusinessWeek. Retrieved 1 February 2010.
  11. ^ "Jakarta Takes Over Big Bank After Run". The New York Times. May 29, 1998. Retrieved 31 July 2016.
  12. ^ "The family firm (Jul 24, 1997)". The Economist. Retrieved 31 July 2016.
  13. ^ Vatikiotis, Michael (26 November 2004). "Indonesian Food Giant Undergoes a Transformation". The New York Times. Retrieved 1 February 2010.
  14. ^ Doebele, Justin (27 August 2004). "Liem Sioe Liong". Forbes. Retrieved 31 January 2010.
  15. ^ Chelvi, S. Tamarai (27 November 2006). "Mirzan's wife withdraws application for divorce". The Sun. Retrieved 31 January 2010.

Bibliography[edit]

  • Rowley, Anthony (7 April 1983), "Birth of a Multinational", Far Eastern Economic Review, ISSN 0014-7591.
  • Siregar, Sori Ersa & Widya, Kencana Tirta (1989), Liem Sioe Liong: Dari Futching ke Mancanegara (in Indonesian), Jakarta: Pustaka Merdeka, ISBN 978-979-8054-16-7.
  • Soetriyono, Eddy (1989), Kisah Sukses Liem Sioe Liong (in Indonesian), Jakarta: Indomedia.
  • Suryadinata, Leo (1995), Prominent Indonesian Chinese: Biographical Sketches (3rd ed.), Singapore: Institute of Southeast Asian Studies, ISBN 978-981-3055-04-9.

Further reading[edit]

External links[edit]