Bachtiar Karim

Bachtiar Karim (born November 5, 1957) is an Indonesian[1] tycoon and businessman who lives in Singapore. He is the executive chairman of Musim Mas, one of the world's leading palm oil conglomerates that is family-owned,[2] currently headquartered in Singapore.[3] Despite being listed as Indonesia's #10 richest man, with a net-worth of 3.5 billion US dollar as of 2021,[4] he is publicity-shy and has kept a relatively low profile.[5] Karim was listed in Tatler as one of Asia's Most Influential in 2021[6]

Bachtiar Karim
Born (1957-11-05) November 5, 1957
Medan, Indonesia
CitizenshipIndonesian
Alma materNUS Business
Occupation(s)Owner, Musim Mas
ParentAnwar Karim & Mikie Wijaya
RelativesBurhan Karim (brother)
Bahari Karim (brother)

Education

He studied in Singapore at the Hwa Chong Junior College and completed a degree in Mechanical Engineering at the National University of Singapore.[7]

Notable Transactions

In 2019, Karim bought over the entire Darby Park Executive Suites (a 6-story serviced residence building in Singapore) in prime area Orange Grove near Orchard Road for $160 million from Royal Group Holdings Pte Ltd, one of the largest private property transactions in Singapore that year.[8] His family's real estate investment company, Invictus Developments, is redeveloping the plot of land under the Standard Hotels chain into a luxury boutique 143-room hotel, slated to be open in 2023.[9]

In 2022, Karim's family bought the House of Tan Yeok Nee (a mansion building designated as a national monument of Singapore) in the Museum Planning Area through a competitive Expression of Interest exercise (EOI).[10] It is one of just five privately-owned Commercial national monuments. Chayadi Karim, the spokesperson of the Karim family, said they are "exploring various investment strategies for ... this conservation marvel."[11] Currently, it remains the campus of Amity Global Institute.

Family

His father Anwar Karim founded the Nam Cheong Soap Factory in Medan in 1932.[12] He has three brothers: Burhan Karim, Bahari Karim, Bachrum Karim. His family founded an entrepreneur center, which operates in the University of North Sumatra.[12]

Philanthropy

Karim is actively involved in philanthropy, having his own entrepreneur and training center in Medan, and having donated back to his alma mater, the NUS Business School.[13]

References
  1. https://deras.co.id/2016/04/14/pt-musim-mas-berencana-perpanjang-beasiswa-anak-mas-ypsa/ Bachtiar Karim and wife, pictured in 2016
  2. "Prestige Online". Prestige. Retrieved 12 December 2021.
  3. Reuters Staff (2012-07-15). "FACTBOX-Indonesia's palm oil tycoons drive investment spree". Reuters. Retrieved 2020-10-25. {{cite news}}: |author= has generic name (help)
  4. "Bachtiar Karim & family". Forbes. Retrieved 2020-08-03.
  5. Web, Digital (2014-08-26). "Biography of Bachtiar Karim". Indonesia Richest. Retrieved 2020-08-03.
  6. "Tatler Asia's Most Influential 2021". Retrieved 12 December 2021.
  7. https://www.pressreader.com/singapore/the-business-times/20190919/page/2. Retrieved 2020-08-03 – via PressReader. {{cite web}}: Missing or empty |title= (help)
  8. hermesauto (2019-10-14). "Singapore property investment sales more than double to $16.7b on quarter: Report". The Straits Times. Retrieved 2020-10-25.
  9. "Standard Hotel Coming to Singapore". 5 August 2021. Retrieved 12 December 2021.
  10. "House of Tan Yeok Nee sold to family of Indonesian tycoon Bachtiar Karim". CNA. Retrieved 2023-01-17.
  11. "Savills Singapore | House of Tan Yeok Nee Sold". www.savills.com.sg. 24 July 2017. Retrieved 2023-01-17.
  12. Salihovic, Elnur (5 October 2015). Major players in the Muslim business world. Boca Raton, Florida. p. 120. ISBN 978-1-62734-052-6. OCLC 988749011.{{cite book}}: CS1 maint: location missing publisher (link)
  13. "NUS Business Honour Role". Retrieved 12 December 2021.
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