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Are Indonesia’s Prabowo and ultra rich ‘9 Dragons’ on a collision course?
['Johannes Nugroho']
News - South China Morning Post
Indonesian President Prabowo Subianto ’s push to reorganise Southeast Asia’s largest economy around a stronger, more interventionist state has put him increasingly at odds, analysts say, with the country’s so-called Nine Dragons.
Known locally as Sembilan Naga, the label is a loose shorthand for some of Indonesia’s richest tycoon families – many of them Chinese Indonesian – with interests spanning banking, tobacco, property, palm oil, mining and consumer goods.
It has never referred to a formally confirmed group but is widely used in public discussion of powerful conglomerates associated with business empires such as Djarum, Salim Group, Lippo Group, Golden Agri-Resources, Barito Pacific and Agung Sedayu.
“Prabowo may not mention names, but there’s no mistake he’s taking potshots at the dragons,” said Made Supriatma, a visiting fellow in the Indonesia Studies Programme at the ISEAS – Yusof Ishak Institute, whose research focuses on Indonesian state bureaucracy.
Indonesia’s so-called Nine Dragons have interests spanning banking, tobacco, property, palm oil, mining and consumer goods.