Prajogo Pangestu (traditional Chinese: 彭雲鵬; simplified Chinese: 彭云鹏; pinyin: Péng Yúnpéng) Born Phang Djoen Phen in 1944 is an Indonesian business magnate, investor, and philanthropist of Hakka Chinese origin. He owns and founded Barito Pacific Group which engages in forestry, petrochemicals, property, plantation, oil and gas, coal and gold mining, as well as geothermal. Pangestu has been ranked by Forbes Indonesia as one of the richest people in Indonesia.
In the 1970s, he traded timber in Kalimantan. One of the companies controlled by Prajogo, PT Barito Pacific Timber Tbk, as of 1993 was the largest company on the Jakarta Stock Exchange. In 2007, PT Barito Pacific Timber Tbk decided to drop the word “Timber” to reflect the diversified scope of its businesses today and in the future.
Aside from PT Barito Pacific Tbk which controls Indonesia’s largest petrochemical producer, PT Chandra Asri Petrochemicals Tbk, Prajogo Pangestu also controls Star Energy, one of the largest oil & gas, as well as geothermal company in Indonesia.
As of 2009, Barito Pacific also owns the Transpacific Group, which has an 80% stake in Transpacific Railway Infrastructure.
Prajogo Pangestu was bornon 1944 in Jakarta, Indonesia, Indonesia. Prajogo Pangestu is #837 in List Billionaires People In The World. Son of a rubber trader, Pangestu got his start in the timber business in the late 1970s. His company PT Barito Pacific Timber went public in 1993 and changed its name to Barito Pacific after cutting back on its timber business in 2007. In 2007 Barito Pacific acquired 70% of petrochemical firm Chandra Asri, which also trades on the Indonesia Stock Exchange. In 2011 Chandra Asri merged with Tri Polyta Indonesia and became the country’s largest integrated petrochemical producer. Chandra Asri Petrochemical teamed with French tire manufacturer Michelin in 2015 to develop a synthetic rubber plant in Indonesia.
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