Bachtiar Karim (born November 5, 1957) is an Indonesian businessman and
palm oil
Palm oil is an edible vegetable oil derived from the mesocarp (reddish pulp) of the fruit of oil palms. The oil is used in food manufacturing, in beauty products, and as biofuel. Palm oil accounted for about 36% of global oils produced from o ...
tycoon He is the chairman of
Musim Mas
Musim Mas Group is an Indonesian food processing company operating globally in the palm oil industry, with a presence in 13 countries spanning Asia-Pacific, Europe, North America, and South America. The group owns a significant network of palm ...
, one of the world's leading palm oil conglomerates headquartered in Singapore.
[ /ref> Karim was listed as Indonesia's #10 richest man, with a net-worth of $3.5B in 2021.]Tatler
''Tatler'' (stylised in all caps) is a British magazine published by Condé Nast Publications. It focuses on fashion and lifestyle, as well as coverage of high society and politics. It is targeted towards the British upper and upper-middle c ...
as one of Asia's Most Influential in 2021
Education
He studied in Singapore
Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...
at the Hwa Chong Junior College
The Hwa Chong Junior College () was a Junior college (Singapore), junior college in Singapore offering Education in Singapore#Pre-university, pre-university education. The school merged with The Chinese High School on 1 January 2005 to form the ...
and completed a degree in Mechanical Engineering at the National University of Singapore
The National University of Singapore (NUS) is a national university, national Public university, public research university in Singapore. It was officially established in 1980 by the merging of the University of Singapore and Nanyang University ...
.
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
Orchard Road, often known colloquially as simply Orchard, is a major -long road in the Central Area, Singapore, Central Area of Singapore. A famous tourist attraction, it is an upscale shopping area, with numerous internationally renowned de ...
for $160 million from Royal Group Holdings Pte Ltd, one of the largest private property transactions in Singapore that year. His family's real estate investment company, Invictus Developments, is redeveloping the plot of land under the Standard Hotels
The Standard Hotels is a worldwide chain of twelve boutique hotels operated by Standard International Management. The chain was established in 1999.Its two original properties, in Hollywood and Los Angeles, closed in 2021 and 2022 respectively.
...
chain into a luxury boutique 143-room hotel, slated to be open in 2023.
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
An invitation to tender (ITT, also known as a call for bids or a request for tenders) is a formal, structured procedure for generating competing offers from different potential suppliers or contractors looking to obtain an award of business activ ...
exercise (EOI). 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." Currently, it remains the campus of Amity Global Institute.
Family
His father Anwar Karim founded the ''Nam Cheong Soap Factory'' in Medan
Medan ( , ) is the capital city, capital and largest city of the Indonesian Provinces of Indonesia, province of North Sumatra. The nearby Strait of Malacca, Port of Belawan, and Kualanamu International Airport make Medan a regional hub and multi ...
in 1932.University of North Sumatra
The Universitas Sumatera Utara ( or USU) is a public university located in the city of Medan in North Sumatra, Indonesia.
It is situated in Padang Bulan, in the Medan Baru subdistrict of Medan, close to the City Centre, with a total area of 122 h ...
.
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
The National University of Singapore (NUS) is a national public research university in Singapore. It was officially established in 1980 by the merging of the University of Singapore and Nanyang University.
The university offers degree programm ...
.
References
{{DEFAULTSORT:Karim, Bachtiar
Indonesian businesspeople
Indonesian people of Chinese descent
Living people
People from Medan
1957 births
Hwa Chong Junior College alumni
National University of Singapore alumni