Mochtar Riady
Encyclopedia
Mochtar Riady is an ethnic Chinese
financial magnate in Southeast Asia. He is the founder and CEO of Lippo Group
. He is also the chairman of the Asian Bankers Association. Born on 12 May 1929, in Malang
, East Java
, Mochtar is known to have a cold hand at transforming the fortunes of financial institutions. He was recruited by another magnate, Lim Sioe Liong, in 1975 to replicate his achievement in developing Panin Bank to be Indonesia's largest private bank in Lim's Bank Central Asia
(BCA). At the time of his appointment at BCA, the bank's asset was . By the time he left BCA in 1990, it was already a juggernaut institution with assets valued at more than .
Convinced that he had what he need to walk his own road, he formed Lippo Group. Over the years, the group diversified in financial services (banking, investment, securities, insurance, asset management and mutual fund), property (satellite cities, housing, condominium, shopping malls, office buildings, and industrial sites), and infrastructure (power plants, gas production, roads, sanitation, and communication), which is largely handled by Lippo Group Hong Kong office, controlled by his son Stephen Riady.
In one of his pet projects, Lippo Karawaci
, where he also reside along with son James Riady
, he built Gleneagles Hospital from Singapore, Sekolah Pelita Harapan
, and Supermal along with world class facilities.
In 1996, Lippo Group acquired 50% of retailer Matahari owned by Hari Darmawan.
Mr. Riady also hold a central position as Senior Advisor to Ma Chung University.
He has made substantial donations to the DNC
.
According to CNN, "President Clinton
met twice with Riady at the White House
, and belatedly acknowledged receiving a detailed letter from him that pressed Clinton to establish formal relations with Vietnam
and to renew most-favored-nation trading status with China
, among other issues."
His son, James Riady
, is the chairman for Indonesia's operations, and his son Stephen Riady is the chairman for Asia's operations.
Ethnic Chinese
Ethnic Chinese may refer to:*Han Chinese, the dominant ethnic group in the People's Republic of China, Hong Kong, Macao, the Republic of China and Singapore....
financial magnate in Southeast Asia. He is the founder and CEO of Lippo Group
Lippo Group
The Lippo Group is a major Indonesian conglomerate founded by Mochtar Riady. The Lippo Group began with Bank Lippo, later using this as a platform for regional property development projects. These projects, throughout Indonesia and China, are akin to Irvine, California's development...
. He is also the chairman of the Asian Bankers Association. Born on 12 May 1929, in Malang
Malang
Malang is the second largest city in East Java province, Indonesia. It has an ancient history dating back to the Mataram Kingdom. The city population at the 2010 Census was 819,708. During the period of Dutch colonization, it was a popular destination for European residents. The city is famous for...
, East Java
East Java
East Java is a province of Indonesia. It is located on the eastern part of the island of Java and includes neighboring Madura and islands to its east and to its north East Java is a province of Indonesia. It is located on the eastern part of the island of Java and includes neighboring Madura and...
, Mochtar is known to have a cold hand at transforming the fortunes of financial institutions. He was recruited by another magnate, Lim Sioe Liong, in 1975 to replicate his achievement in developing Panin Bank to be Indonesia's largest private bank in Lim's Bank Central Asia
Bank Central Asia
Bank Central Asia is an Indonesian bank founded on August 10, 1955.The Asian monetary crisis in 1997 had a tremendous impact on Indonesia’s entire banking system. In particular, it affected BCA’s cash flow and even threatened its survival. Panic rush forced the bank to seek assistance from the...
(BCA). At the time of his appointment at BCA, the bank's asset was . By the time he left BCA in 1990, it was already a juggernaut institution with assets valued at more than .
Convinced that he had what he need to walk his own road, he formed Lippo Group. Over the years, the group diversified in financial services (banking, investment, securities, insurance, asset management and mutual fund), property (satellite cities, housing, condominium, shopping malls, office buildings, and industrial sites), and infrastructure (power plants, gas production, roads, sanitation, and communication), which is largely handled by Lippo Group Hong Kong office, controlled by his son Stephen Riady.
In one of his pet projects, Lippo Karawaci
Lippo Karawaci
Lippo Karawaci is a planned community in Tangerang, west of Jakarta, Indonesia. Previously a swamp area, it was opened in 1993 and is today a benchmark for Indonesia's "other" urban developments....
, where he also reside along with son James Riady
James Riady
James Riady is the deputy chairman of the Lippo Group, a major Indonesian conglomerate. He is a Chinese Indonesian, and also the son of Mochtar Riady, founder of the group. The group has recently signed an agreement with Khazanah of Malaysia to relinquish its majority stake in Lippo Bank...
, he built Gleneagles Hospital from Singapore, Sekolah Pelita Harapan
Sekolah Pelita Harapan
Sekolah Pelita Harapan International is a group of co-educational K1-12 private, international Christian schools in Indonesia. It is a selective independent private high-school in Indonesia. The school has three primary campuses in Lippo Village, Sentul City, and Lippo Cikarang...
, and Supermal along with world class facilities.
In 1996, Lippo Group acquired 50% of retailer Matahari owned by Hari Darmawan.
Mr. Riady also hold a central position as Senior Advisor to Ma Chung University.
He has made substantial donations to the DNC
Democratic National Committee
The Democratic National Committee is the principal organization governing the United States Democratic Party on a day to day basis. While it is responsible for overseeing the process of writing a platform every four years, the DNC's central focus is on campaign and political activity in support...
.
According to CNN, "President Clinton
Bill Clinton
William Jefferson "Bill" Clinton is an American politician who served as the 42nd President of the United States from 1993 to 2001. Inaugurated at age 46, he was the third-youngest president. He took office at the end of the Cold War, and was the first president of the baby boomer generation...
met twice with Riady at the White House
White House
The White House is the official residence and principal workplace of the president of the United States. Located at 1600 Pennsylvania Avenue NW in Washington, D.C., the house was designed by Irish-born James Hoban, and built between 1792 and 1800 of white-painted Aquia sandstone in the Neoclassical...
, and belatedly acknowledged receiving a detailed letter from him that pressed Clinton to establish formal relations with Vietnam
Vietnam
Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...
and to renew most-favored-nation trading status with China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
, among other issues."
His son, James Riady
James Riady
James Riady is the deputy chairman of the Lippo Group, a major Indonesian conglomerate. He is a Chinese Indonesian, and also the son of Mochtar Riady, founder of the group. The group has recently signed an agreement with Khazanah of Malaysia to relinquish its majority stake in Lippo Bank...
, is the chairman for Indonesia's operations, and his son Stephen Riady is the chairman for Asia's operations.