Profile of Low Tuck Kwong, the second richest person in RI who is successful in the coal business

JAKARTA, KOMPAS.com – Rising global coal prices are a boon for tycoons Bass Tuck Kwong. Owner Bayan Resources manages to take second place in the list of 50 Indonesia’s richest man 2022 version of Forbes magazine.

Quoted by Forbes Real Time, Saturday (12/10/2022), Low Tuck Kwong’s net worth reaches 18.6 billion or the equivalent of IDR 290.2 trillion. It is under the Hartono brothers, who are worth 43.9 billion dollars or the equivalent of 684.9 trillion rupees.

In fact, Low Tuck Kwong’s wealth has increased greatly thanks to the increase in coal prices. This condition sent up the shares of PT Bayan Resources Tbk (BYAN) which it controlled.

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Low Tuck Kwong profile

Quoted by Forbes, Low Tuck Kwong is known as the King of Coal. This 74-year-old man is the founder of Bayan Resources, a coal mining company in Indonesia.

According to Indonesia Stock Exchange records, currently Low Tuck Kwong is a 61% shareholder of PT Bayan Resources or BYAN or 2,033.2 units of shares.

Low Tuck Kwong was born in Singapore on April 17, 1948. His father is David Low Nyi Ngo, owner and director of a construction company in Singapore.

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From the age of 20, Low worked for his father’s construction company in Singapore.

Then, in 1972, he decided to move to Indonesia for a bigger opportunity.

A year later, he founded PT Jaya Sumpiles Indonesia (JSI), which deals with construction.

JSI later became a pioneer in complex pile foundation construction.