Lo Kheng Hong’s SIMP Jackpot: IDR 81 Billion in One Day

Bisnis.com, JAKARTA — Prominent investor Lo Kheng Hong holds a total of 779.20 million shares (5.03% stake) of PT Salim Ivomas Pratama (SIMP), making him the largest individual shareholder of the company.

The man dubbed “Indonesia’s Warren Buffett” claims to see a potential gain of IDR 81.8 billion from his holding with a price increase of only IDR 105.

“SIMP profit in one day, 778,207,000 shares x 105 = IDR 81.8 billion,” he told Bisnis on Wednesday (30/7).

According to reports, Lo Kheng Hong first appeared on the list of SIMP shareholders on June 24, 2025, for holding more than a 5% stake. At the time, LKH’s holding amounted to 778,857,000 (5.02%), of which 424,678,100 was held via the brokerage Panin Sekuritas.

According to Lo Kheng Hong, Salim Ivomas owns 241,046 hectares of oil palm plantations,16,235 hectares of rubber plantations, 13,878 hectares of sugar plantations, and 16,859 hectares of plantations for cocoa and tea. With a total plantation area of 288,018 hectares, he estimates its total value at $2.88 billion.

“If one hectare is worth $10,000, then 288,018 hectares is valued at $2.8 billion. Converted to rupiah, that is IDR 46.9 trillion, not including Bimoli cooking oil and Palmia margarine, etc.,” he told Bisnis on Thursday (26/7).

In contrast, SIMP’s market share currently stands at stands only IDR 7 trillion.

“There is a price gap of IDR 40 trillion between the market price and the company’s value,” he said.

Dividends

On July 22, SIMP paid dividends with a 20% payout ratio, distributing IDR 310.02 billion (IDR 20 per share) of its IDR 1.54 trillion from FY2024 net profits. This was based on shareholder approval from an annual general meeting (AGM) held on June 19.

“We would like to convey our appreciation to all of our shareholders for the support to the Company. SIMP Group will continue to manage its activities prudently and manage its operations in a sustainable manner. SIMP Group remains focused on improving cost control and efficiency, prioritizing capital expenditure and improving productivity,” SIMP president director Paulus Moleonoto wrote in a press release on the AGM’s results (19/6).

The cum-dividend date in the regular and negotiated markets were set on June 30, 2025, while the payment itself was scheduled for July 22, 2025. Assuming the ownership remains unchanged until the recording date on July 2, Lo Kheng Hong was estimated to have received around IDR 15.58 billion in dividends from Salim Ivomas.