The biggest gainer was Low Tuck Kwong, 78, the richest person in the country. His net worth went up $4 billion to $20.7 billion within a month, according to Forbes data.
Shares of his company Bayan Resources increased by 27% in a month and is 6% away from returning to the level it began this year at.
The company posted strong figures in the second quarter, with revenue jumping 26% year-on-year to $918.5 million, while net income went up 67% to $219.5 million.
Low is rumored to be looking for a buyer for his stake in the company. Bloomberg reported recently that the founder, who owns 40% of the company with a further 22% stake held by his daughter, is negotiating with potential buyers led by Andi Syamsuddin Arsyad, better known as Haji Isam, according to people familiar with the matter.
Bayan, however, said it was “not aware of any plans to take over and/or acquire” company shares.
The second richest man in Indonesia, Prajogo Pangestu, enjoyed a gain of almost $1 billion to $16.7 billion.
Shares of Barito Pacific, where Prajogo is the chairman, went up 5% in almost a month. The company’s main businesses are petrochemicals, energy and infrastructure.
Barito Renewables, its renewable-energy arm, saw net profit adding 29% year-on-year in the first six months.
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From L: billionaires Low Tuck Kwong, Robert Budi Hartono, Prajogo Pangestu, Anthoni Salim. Graphics by VnExpress/Dat Nguyen. Photos courtesy of SEAX Global, Bakti Barito, Indofood |
Robert Budi Hartono, the third-ranking billionaire, added $700 million to his wealth, which stood at $16.3 billion on August 26.
He and his brother are controlling shareholders of Bank Central Asia, which saw its net profit rising 1.8% to 29.5 trillion rupiah (US$1.67 billion) in the first half.
The bank’s total loans went up 8% by June-end, exceeding 1 quadrillion rupiah for the first time. It manages over 1,200 branches in the country.
Instant noodles tycoon Anthony Salim, the fourth richest Indonesian, now owns a fortune of $11 billion, up $700 million from July-end.
His flagship company Indofood Sukses Makmur saw shares rising 6% in over a month, with net profit rising 7% year-on-year in the first half to 6.1 trillion rupiah.
Indonesian stock market in August continued to rebound from a steep plunge earlier this year. The IDX Composite added 4.6% this month, following a 10.5% gain in July.