/data/photo/2022/12/10/63949d128a496.jpg "Profile of Low Tuck Kwong, RI’s second wealthiest person who succeeds in the coal business Page all")
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.
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.
In 1988, JSI expanded into the coal mining industry and became a major mining contractor.
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Then in 1992, Low Tuck Kwong decided to change his citizenship to become a citizen of Indonesia (WNI).
His income increased in 1997 after he bought his first coal mine through PT Gunungbayan Pratamacoal, currently known as Bayan Resources.
Through PT Perkasapratama Pier, it also operated a coal terminal in Balikpapan in 1998.
Outside of the coal business, Low Tuck Kwong also controls Singaporean renewable energy company Metis Energy. Previously, the company was known as Manhattan Resources.
Low supports SEAX Global, which is building an undersea cable system for internet connectivity linking Singapore, Indonesia and Malaysia.
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Low Tuck Kwong Scholarship
Low Tuck Kwong has also provided scholarship programs to a number of universities in Indonesia. One of them is at the University of Indonesia (UI).
Quoted from the news kompas.com Previously, Low Tuck Kwong, through Purnomo Yusgiantoro Center (PYC), donated IDR 50 billion for UI scholarships.
The education funds given to students are in the form of Operating Expenses for Education (BOP).
BOP is a cost component for the operational needs of higher education tri dharma business organization.
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