Jun 11, 2012

Soedono Salim & First Pacific Company

Liem Sioe Liong (Soedono Salim or people call him with Om Liem) has passed away on 3.08 pm yesterday in Singapore at 97 years old.
Om Liem, which is very close to former President Soeharto, was a founder of Salim Group. He initiated his business in 1969 with his buddies, dubbed The Gang of Four, Sudwikatmono, Djuhar Sutanto, and Ibrahim Risjad. They founded CV Waringin Kentjana. Om Liem took the helmet as Chairman, while Sudwikatmono, founder and owner of Indika Group (PT Indika Energy Tbk/INDY) as CEO. Many articles about his strong effort in the business you can find via Google.
But, what is the last position of Soedono Salim at his business conglomerate? Soedono Salim is an advisor of First Pacific Company Limited, a holding company of Salim family that is listed at Hong Kong Stock Exchange.
Born in China, Om Liem serves as First Pacific's Chairman from 1981 until February 1999 when he assumed his current titles. He serves as chairman of the Salim Group.
With his current position at the advisor of First Pacific, Om Liem is one of Indonesia's businessmen who can maintain his business at the hot spot. First Pacific's assets are more attractive than other conglomerations in Indonesia.
First Pacific has main investments in telecommunications, infrastructure, consumer food products, and natural resources. Their main businesses are the most lucrative sectors in Indonesia. In the past 8 years to 2011, First Pacific has seen its gross asset value rise with a compound annual growth rate of 27% to US$7.88 billion at the end of 2011 from US$1.28 billion in 2003.
First Pacific controlled 25.8% stake in Philippine Long Distance Telephone Company (PLDT).
PLDT is the leading telecommunications service provider in the Philippines. Its shares are listed on the Philippine Stock Exchange and its American Depositary Receipts are listed on the New York Stock Exchange.
First Pacific controls 59.1% stake in Metro Pacific Investments Corporation (MPIC). Metro Pacific is a Philippine-based, publicly-listed, investment management and holding company focused on infrastructure development. 
In PT Indofood Sukses Makmur Tbk (INDF), an Indonesia listed company, First Pacific owns 50.1% stake.
Indofood is a maker of instant noodle, CPO, and fluor mills. Its consumer branded products subsidiary PT Indofood CBP Sukses Makmur Tbk (ICBP) and agribusiness subsidiaries PT Salim Ivomas Pramata Tbk (SIMP) and PT PP London Sumatra Indonesia Tbk (LSIP) are also listed in Indonesia Stock Exchange. In LSIP, Salim family has partnership with Sariaatmadja family, who owns and runs television statitions such as Surya Citra Media, Indosiar, and O Channel.
First Pacific also owns 31.3% stake in Philex Mining Corporation (Philex). Philek is a Philippine-listed company engaged in exploration, development and management of mineral and energy resources in the Philippines.  

Disclosure: No position at the stock mentioned above.

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1 comment:

zenal said...

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