Harita Belongs to RI’s Richest People Wants to IPO, Fantastic Value

Jakarta, CNCB Indonesia – The company owned by the oldest conglomerate in Indonesia, Lim Hariyanto Wijaya Sarwono, is rumored to have an IPO soon with a target of IDR 9 trillion. Revealed, the treasure of this nickel mine boss is fantastic.

This 94-year-old mining entrepreneur is listed as the oldest Indonesian tycoon with assets of more than US$ 1 billion. Forbes noted that Lim Hariyanto has a net worth of US$ 1.2 billion, or the equivalent of Rp. 18 trillion, assuming an exchange rate of Rp. 15,000/US$.

Lim Hariyanto and his family’s wealth is primarily derived from their majority shareholding in Singapore-registered palm oil producer Bumitama Agri, whose plantations operate in Indonesia.

In addition, Lim, who is also the founder of the Harita family group, also owns the majority of registered bauxite mining companies in Indonesia, namely PT Cita Mineral Investindo Tbk (CITA).

Apart from the bauxite mine, the Harita Group also has a nickel mining business focus and is listed as one of the main nickel producers in Indonesia. Currently, it is rumored that the Harita Group’s nickel business unit will soon conduct an initial public offering (IPO) on the capital market and target to obtain public funds of at least US$ 600 million or around Rp 9 trillion.

Lim Haryanto has 7 children, of which 2 children play the most important roles in several of his companies. One of his sons, namely Lim Gunawan Hariyanto, is the CEO of Bumitama Agri, while one of his daughters, namely Christina, is the president commissioner of a securities company, Harita Kencana Sekuritas.

Early in his life, Lim Hariyanto’s father, namely Lim Tju King, was a Chinese citizen from Fujian who later moved to East Kalimantan. He moved because of the turmoil between the nationalist side against the communist side at that time.

After moving from China, his father started by working odd jobs, starting from trading and even working as a porter.

Even though Lim’s father received very little wages for labour, he was thrifty and always saved as much as he could.

When he had enough savings, he started running a small grocery store, he ran this grocery store starting in 1915.

Over time, the grocery store run by Lim Tju King was a great success and even expanded into various businesses. In fact, Lim Tju King’s business was passed on to his son, Lim Hariyanto.

(ouch)