Sudono Salim | |
|---|---|
| Born | Lim Sioe Liong (1916-07-16)16 July 1916 |
| Died | 10 June 2012(2012-06-10) (aged 95) Singapore |
| Citizenship | Indonesia |
| Occupations | Banker, businessman |
| Years active | 1936–2012 |
| Board member of | Salim Group |
| Spouse | Lie Kim Nio (1924–2015) |
| Children | 4, includingAnthoni Salim |
Sudono Salim orLim Sioe Liong (16 July 1916 – 10 June 2012), also known as Om (Uncle) Liem was an Indonesianbanker andbusinessman. He was the richest individual in Indonesia.[1] He was the founder and chairman of the conglomerateSalim Group before handing over its management to his youngest sonAnthoni Salim (now the fifth wealthiest person in Indonesia)[2] in 1992.
In 1916, Salim was born as Lim Sioe Liong (林紹良)[3] inFuqing,Fujian,China. According to theChinese 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 Liem Sioe Hie and brother-in-law Zheng Xusheng inKudus,Central Java.[1] Salim diversified theirpeanut oil trading company into theclove market, which was growing rapidly from demand for production.[5] While in Kudus, his manufacturing company supplied soldiers of theIndonesian National Revolution with medical supplies and came into contact withSuharto, 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 subsumed many of their assets and gained a monopoly in the clove market,[5] but he denied working with Suharto in expanding his ventures.[7]
In 1952, after moving toJakarta, Salim expanded his peanut oil trading company by establishing connections with other Overseas Chinese businessmen in Hong Kong and Singapore respectively. His soap manufacturing company became one of the primary suppliers to theIndonesian National Armed Forces. Salim later expanded his commercial activities into textile manufacturing and financial services, eventually being behind the establishment of Indonesia's largest private bank,Bank Central Asia in 1957. Following theAsian financial crisis, he was forced to give up control of the bankto the government.
In 1968, after a corporate merger, Salim gained the rights to an establish a corporatemonopoly on clove importation. He also established Bogasari, a joint venture with another businessman of Hokchia ancestry where the company later became Indonesia's largest miller, producer, and supplier of flour. Windfall profits from those two companies were said to have provided him with the expansion capital to finance the establishment of cement giantIndocement in 1973.[6]
In 1990, he established the food manufacturerIndofood, Indonesia's largest maker of instant noodles.[8]
In 1992, Salim handed over management of the conglomerateSalim Group to his sonAnthoni Salim.
By 1997, the Salim Group presided overUS$20 billion in assets with more than 500 subsidiaries employing over 200,000 Indonesians. When theAsian Financial Crisis hit, the conglomerate incurred US$4.8 billion in debt[9] and had to give up control of Bank Central Asia in 1998 to the Indonesian government for nationalization.[10] BCA was then 30% owned by two offspring of Suharto.[citation needed]
During theMay 1998 riots, Salim fled to Singapore after a mob burned his home inJakarta; his son remained back in Indonesia to ward off the mobs and resurrected the family business.[11] Salim eventually settled inLos Angeles in the United States.[9]Forbes magazine listed him as the 25th wealthiest businessperson in Southeast Asia in 2004 with anet worth ofUS$655 million.[12]
Salim had three sons and one daughter.[6][13]
On 10 June 2012, a month before his 96th birthday, Salim died from natural causes atRaffles Hospital, Singapore.[14] He is buried at theLim Chu Kang Cemetery.
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