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18 March 2015

Kris Wiluan

Kris Wiluan, one of Indonesia's 40 richest people. Picture taken from Forbes.com
Kris Wiluan is a business magnate, and one of the top 40 richest people in Indonesia. He also happens to be a giant in the energy industry. His story may be seen as a series of lucky breaks, combined with his natural charm.

In the 1960s, his parents sent him to Germany to study, but he turned up in England by mistake. His uncles convinced his parents that English was more practical, and so they allowed him to study in England. While studying in university there, he met his British wife.

After graduating he became a programmer for Guest, Keen and Nettlefold, now GKN. Later, in 1976, he was offered to work for United Motor Works. A year later he began his own business. He began his business modestly, catering food and supplies to oil rigs, including videos and other entertainment.

In an interview with the Telegraph, he describes his big break: One day, while transporting equipment for Dupont from Singapore to Batam, they missed the returning ferry. While chatting in the darkness, he was suddenly inspired to promote Batam as an alternative storage location.

He got his first contract from Dupont for storing 40,000 pipes on Batam island. With his charm, and sheer good luck, he managed to pull together the necessary resources without putting down any capital. Later, he moved into machining blank pipes for Mobil and other oil companies.

His business empire today includes PT Citra Tubindo, which manufactures pipes and other oil-related equipment, and KS Energy, a Singapore-listed equipment distribution and drilling company.

In 2007, Forbes listed Kris Wiluan's net worth at USD 185 million. He was No. 35 in the Forbes 2007 list of Indonesia's 40 richest people. A mere 2 years later, he was listed by Forbes as having a net worth of USD 240 million. This time, however, he was No. 40 in the Forbes list.

References:

  1. http://www.telegraph.co.uk/finance/businessclub/business-club-video/global-business-insight-video/7849925/Kris-Taenar-Wiluan-interview.html
  2. http://www.forbes.com/lists/2007/80/07indonesia_Kris-Wiluan_KIAQ.html
  3. http://www.forbes.com/lists/2009/80/indonesia-billionaires-09_Kris-Wiluan_KIAQ.html
  4. http://batampos.co.id/26-08-2013/pahit-manis-karir-bisnis-kris-wiluan-1/ (Indonesian)

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