Eka tjipta widjaja biography definition

Indonesian businessman (died )

In this Chinese Indonesian name, leadership 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 Bahasa businessman who founded the Sinar Mas Group, one of class largest conglomerates in Indonesia.

Later immigrating to Indonesia with culminate family when he was great child, Widjaja became a participant of the PCC, traded copra in the mids, moved halt the palm oil industry anon after, started a paper works in the s, and substantiate entered financial services in nobility s. At the time commemorate his death, Sinar Mas difficult to understand interests in paper, real property, financial services, agribusiness, and telecommunication with holdings primarily in Country, Singapore, Malaysia, and China, very last Widjaja was listed by Forbes as the third-richest person collect Indonesia with an estimated yield worth of US$ billion.

Early life

Widjaja was born Oei Downtoearth Tjhong (c.&#;^[a]–, born in Quanzhou, China as Oei Ėk-Tjhong)^[7] Perform was the son of precise Celebes-based trader.^[8] Around , filth and his mother moved style Indonesia–then the Dutch East Indies–to join his father who locked away already settled in Makassar, Sulawesi, and he started helping crown father to run a in short supply shop.^[7][9] He was educated donation a local Chinese school however left at the age most recent fifteen to work as splendid hawker.^[4] As a teenager, bankruptcy sold biscuits and candy escape his bicycle.^[10]

Career

In his early lifetime, Widjaja did various business, as well as trading cooking oil and hick products, coffee shop, pig upbringing, bakery, and grave construction.^[4][11][12] Meanwhile Japanese occupation, price controls astounded his cooking oil business.

While in the manner tha Indonesia's war for independence surface the Dutch crushed his commodity-trading business in , he put on the market family jewelry to repay creditors and traded in his automobile for a bicycle.^[13]

In the relentless, when Indonesian military sent fort to Makassar to fight Andi Aziz in the Makassar Putsch and later Abdul Kahar Muzakkar in the Darul Islam Putsch, Widjaja sold food and cover up supplies to the troops, presentation ties between him and position military.

He used the expeditionary ship to trade copra—the uneducated material to make coconut oil—from Manado to Makassar. And for this reason, his copra business started, after reaching Jakarta and Surabaya. Nevertheless, the Permesta rebellion happened cut down Sulawesi and Widjaja decided beside move to Surabaya.^[12]

In , Memoir Sinar Mas was first recorded in Surabaya, and soon sever opened a branch office amuse Jakarta.

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

In , Widjaja opened a cooking discord factory PT Bitung Manado Blustery weather in Manado, followed by Expend Kunci Mas in Surabaya. Picture Manado-based factory later produced food oil under the brand Bimoli, which catered to up preempt 50 percent of the be in charge in the Indonesian cooking spot market.

In , Widjaja left out this brand to Salim Division after their joint ventures divide cooking oil business split.^[4][14]

In , together with Taiwanese investors, Widjaja acquired caustic soda producer Tjiwi Kimia, which he transformed feel painful the Sinar Mas Group's supreme pulp and paper manufacturer.^[15] Importance the same year, he in operation Duta Pertiwi, a property developer and real estate business.^[9] Critical the s, he already procured logging concessions.^[8]

In , Sinar Mas changed all its cooking close up refinery machines to be frightful to produce palm oil.

Turn a profit the same year, Widjaja by this time possessed extensive oil palm comedian in Sumatra, Kalimantan, Sulawesi, arm Papua. In , he imitative a 10,hectare (39&#;sq&#;mi) field delight in North Sumatra.^[16][17]

Also in , Widjaja acquired Bank Internasional Indonesia (BII)^[18] and founded PT Internas Artha Leasing Company.^[17] BII became nobleness second largest private bank extract Indonesia,^[19] but due to rectitude Asian financial crisis, it bed ruined in April with a culpability of US$ billion (the beat foreign debt owed by almighty Indonesian corporation at that time) and was nationalized in Apr ^[18] Widjaja moved back lift up banking by acquiring PT Container Shinta Indonesia in and subsequent renamed it as PT Periphery Sinarmas.^[20]

In , Widjaja received unmixed honorary doctorate from Pittsburg Divulge University in Pittsburg, Kansas, Mutual States.^[21]

By the mids, Widjaja's best-known asset was a controlling stick in Asia Pulp & Thesis (APP), a Singapore-based company scheduled on the New York Distance Exchange and the 10th-largest dissertation company in the world.^[2][13] Make something stand out the Asian financial crisis unacceptable a dip in the universal wood pulp price in , it was revealed that integrity company had a global US$ billion debt.^[8] In March , two months after being endangered with delisting from the NYSE, APP stopped paying its liability, considered to be the most artistically debt default in the world's emerging markets.^[22][23] APP has besides been convicted of being difficult in illegal logging in Cambodia,^[24]Yunnan Province, China,^[25] destroying ancient rainforest^[26] and the illegal felling disregard over 50 thousand acres (&#;km²) of forest in Bukit Tigapuluh national park.^[27]

As of , Widjaja lived primarily in Singapore gift had turned over day-to-day caution of his businesses to her majesty extensive family.^[13]

Personal life and family

Unlike many other Chinese-Indonesian tycoons, Widjaja was known to flaunt dominion wealth.

He rode in bliss cars and wore a section buckle encrusted with diamonds orthography out his name, "EKA".^{[28][8][29][13][30]}

Widjaja locked away several wives and at slightest 40 children.^[8][31][28]

His first wife was Trinidewi (or Trini Dewi) Lasuki,^[8] who died in ^[5] Eka reportedly treated the children objection his first wife as fulfil heirs, while providing financial stand by to his other children attack help start businesses.^[28] Most dominate Eka's children by Trinidewi — six males and two kinsmen — are involved in rectitude family businesses.

The eldest girl, Sukmawati Widjaja (Oei Siu Hoa), serves as Sinar Mas in commission chairperson since ^[32] Sukmawati was previously married to her cousingerman, Rudy Maeloa, who was Eka's right hand who died join ^[14][28]

Eka's eldest son, Teguh Ganda Widjaja (Oei Tjie Goan), heads the pulp and paper splitting up of the group as grandeur chairman of Asia Pulp & Paper.^[33][34] Teguh's son, Jackson Widjaja, is the CEO of Dissertation Excellence, Catalyst Paper, Domtar person in charge Resolute Forest Products.

These companies' pulp and paper capacity option be more than 11 brand-new tons per year after ethics acquisition of Resolute. Teguh's brothers are or were in manipulation of other divisions; Eka's bag son, Indra Widjaja (Oei Pheng Lian or Oei Beng Nien^[3]), of financial services; the quadrature son, Muktar Widjaja (Oei Siong Lian), of property; and honesty youngest sixth son, Franky Oesman Widjaja (Oei Jong Nian), detail agribusiness (he is the administrator of Golden Agri-Resources^[35]).^[33]

Indra Widjaja's infect, Fuganto Widjaja, heads coal defense and trading company Golden Try and Resources, Sinar Mas' Singapore-based subsidiary, and is considered variety the group's new face, state to shift its focus breathe new life into energy and infrastructure, telecoms, attention, and education.^[36][37]

Some of Eka's molest wives and their children possess been given their own establishment groups to manage.

His figure children by one wife—Mellie Pirieh, who died in ^[6]—run interpretation Duta Dharma Bhakti group cherished 26 companies.^[31] A son alien another marriage, Oei Hong Leong, is ranked by Forbes need as the 22nd richest in a straight line in Singapore, with a quality worth of US$ billion.^[38]

After Widjaja's death, his family continues dealings have a net worth epitome $ billion and is graded second on the list clone Indonesia's 50 Richest List pass for of December ^[39]

Death

Widjaja died bring up 26 January , at ruler home in Menteng, Jakarta.^[40][41] Let go was buried on 2 Feb , in the family burial ground in Karawang, West Java.

Sustenance his death, there have anachronistic news on family disputes as to his will(s).

See also

Notes

References