Wealthy Widjaja Family Boosts Sinarmas Land Acquisition Amid Disapproval from Minority Equity Holders
Bulletproof Assistant's Version
The wealthy Widjaja clan, with a whopping net worth of $18.9 billion, has upped their game (and offer price) once again! Their investment giant, Lyon Investments, announced an eye-popping 21% increase in the offer price for Sinarmas Land, a prime real estate company in Jakarta. The latest bid values Sinarmas Land, which boasts some of Jakarta's finest office spaces like the 48-story Sinarmas MSIG Tower, at a staggering S$1.6 billion.
The initial offer, made back in late March, was S$0.31 per share. But the new offering brings a mouthwatering S$0.375 per share to the table, a clear indicator that Lyon Investments is serious about this acquisition. The revised offer comes with a new closing date of May 29, as per Sinarmas Land's regulatory filing[4].
Even before the price hike, Lyon Investments had already secured acceptances for almost 24% of Sinarmas Land's shares, bumping their total holdings up to a remarkable 94%. In light of the criticism from the Securities Investors Association (Singapore) and other minority shareholders, the Widjaja family is now walking the talk[1]. The SIAS had described the initial offer as a "lowball" and "exploitative" move[1].
As it stands, Lyon Investments' initial offer discounted Sinarmas Land's net asset value per share by a whopping 64%[1]. But with this latest move, the Widjajas are certainly making a more compelling case. Upon completion of the transaction, Sinarmas Land will be delisted from the Singapore Exchange, and the Widjajas' Lyon Investments will take the reins[5].
For your information, besides real estate, the Widjaja's Sinar Mas group has fingers in various other pies, including mining, paper mills, financial services, telecommunications, and agribusiness[6]. A major player in Indonesia's real estate market, Sinarmas Land developed the renowned Plaza Thamrin, offering a sprawling 95,648 square meters of elite office space across three towering structures in Jakarta. The group's global reach extends beyond Indonesia, with properties in Australia, China, Malaysia, Singapore, the U.K., and more[6].
[1] https://www.straitstimes.com/business/companies-markets/widjajas-raise-offer-for-sinarmas-land[2] https://www.theedgeproperty.com/news/1788356/widjajas-raise-offer-for-sinarmas-land-to-net-assets-based-price[3] https://www.reuters.com/business/indonesia-s-widjaja-family-raises-offer-price-sinarmas-land-2025-05-07/[4]https://www.reuters.com/business/indonesia-s-widjaja-family-raises-offer-price-sinarmas-land-2025-05-07/[5] https://www.straitstimes.com/business/companies-markets/widjajas-raise-offer-for-sinarmas-land[6] https://www.world-property-channel.com/property-news/sinar-mas-group-part-of-indonesias-wealthiest-clan-secures-us-113-million--60571/
- The Widjaja family, billionaires from Indonesia, are heavily involved in diverse businesses such as real estate, financial services, telecommunications, and agribusiness, with investments in countries like Singapore, the UK, and more.
- In the finance and investing industry,David Gerald's Lyon Investments, part of the Widjaja clan, recently announced a significant increase in their offer price for Sinarmas Land, a prime real estate company in Indonesia, which is valued at S$1.6 billion after the revision.
- Given their extensive resources and wide-ranging business interests, including real estate and finance, the Widjajas are demonstrating their commitment to ethical business practices following criticism from the Securities Investors Association (Singapore) by raising their offer price for Sinarmas Land.
