Liem Sioe Liong's Salim Group

Liem Sioe Liong's Salim Group

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After Suharto gained power in Indonesia in the mid-1960s, he stayed as the countrya€™s president for more than three decades, helped by the powerful military, hefty foreign aid and support from a coterie of cronies. A pivotal business backer for his New Order government was Liem Sioe Liong, a migrant from China, who arrived in Java in 1938. A combination of the Suharto connection, serendipity and personal charm propelled him to become the wealthiest tycoon in Southeast Asia. This is the story of how Liem built the Salim Group, a conglomerate that in its heyday controlled Indonesiaa€™s largest non-state bank, the countrya€™s dominant cement producer and flour mill, as well as the worlda€™s biggest maker of instant noodles. The book features exclusive input from Liem, who died in 2012, and his youngest son, Anthony Salim. It traces the foundera€™s life and the groupa€™s symbiosis with Suharto, his generals and family. After the tumultuous 1997a€“98 Asian financial crisis sparked Suhartoa€™s fall and a backlash against the strongmana€™s cronies, Anthony staved off the crushing of the debt-laden group. Told in a journalistic style, the story of the Salim Group provides insights into Suhartoa€™s New Order. For business executives, students and anyone with an interest in Southeast Asiaa€™s largest economy, the volume makes a valuable contribution towards understanding the countrya€™s modern history.At the palace on 26 February, the chairman of Kia Motors of South Korea, accompanied by Tommy, presented Suharto ten prototypes of Kia Sephia (with a couple of tweaks) that was called, strangely, the a€œTimora€. Suharto donated the vehiclesanbsp;...

Title:Liem Sioe Liong's Salim Group
Author: Richard Borsuk, Nancy Chng
Publisher:Institute of Southeast Asian Studies - 2014-05-23

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