Sudono Salim

Sudono Salim
Born	Lim Sioe Liong Template:Birth date Fuqing, Fujian, China
Died	June 10, 2012(2012-06-10) (aged 95) Raffles Hospital, Singapore
Other names	Om Liem
Occupation(s)	Business magnate, banker
Years active	1936–1992
Known for	Founder of Salim Group, founder of Bank Central Asia

Sudono Salim, also known as Lim Sioe Liong (16 July 1916 – 10 June 2012) and familiarly called Om (Uncle) Liem, was a prominent Indonesian business magnate and banker. Recognized as the wealthiest individual in Indonesia, he established the Salim Group conglomerate and led it until he passed leadership to his youngest son, Anthoni Salim, who is currently ranked as Indonesia's fifth richest person, in 1992.

Early life

Lim Sioe Liong was born in 1916 in Fuqing, Fujian, China. In 1936, he emigrated from Fujian to join his brother and brother-in-law in Kudus, located in Central Java. There, he expanded their initial peanut oil trading enterprise into the burgeoning clove market. His manufacturing firm supplied medical equipment to troops during the Indonesian National Revolution and developed connections with military officer Suharto. Salim consistently refuted claims that he provided weapons to resistance fighters. After Indonesia’s independence, his business absorbed numerous Dutch-owned assets that had been confiscated and achieved a dominant position in the clove market, although he denied any collusion with Suharto to grow his business interests.

Business career

After moving to Jakarta in 1952, Salim broadened his peanut oil trade by forging partnerships with Overseas Chinese entrepreneurs based in Hong Kong and Singapore. His soap manufacturing enterprise became a key supplier to the Indonesian National Armed Forces. He further diversified into textiles and financial services and was instrumental in founding Indonesia's largest private bank, Bank Central Asia, in 1957. Following the Asian financial crisis, he transferred ownership of this bank to the government.

In 1968, through a corporate merger, Salim gained exclusive rights over clove imports. He also co-established Bogasari, which grew to become Indonesia’s leading flour milling and supply company. The earnings from these ventures financed the creation of cement industry leader Indocement in 1973.

In 1990, Salim launched Indofood, which emerged as Indonesia’s top instant noodle producer.

He handed over the operational control of the Salim Group conglomerate to his son Anthoni Salim in 1992.

By 1997, the Salim Group controlled assets valued at US$20 billion across more than 500 subsidiaries, employing upwards of 200,000 individuals. The Asian Financial Crisis saddled the group with US$4.8 billion in debt, compelling it to relinquish control of Bank Central Asia to government authorities in 1998. At that time, Suharto’s family held partial ownership of BCA.

Amid the May 1998 riots, Salim escaped to Singapore after his residence in Jakarta was torched; meanwhile, his son remained behind to safeguard and restore their business empire. Subsequently, Salim settled in Los Angeles. In 2004, Forbes ranked him as Southeast Asia’s 25th wealthiest entrepreneur with an estimated net worth of US$655 million.

Personal life

Salim was the father of three sons and one daughter.

He passed away due to natural causes on 10 June 2012, just days before turning 96, at Raffles Hospital in Singapore. His final resting place is at the Lim Chu Kang Cemetery.

External links

• Sudono Salim on Tokoh Indonesia