VINANSIA.COM – Darma Mangkuluhur Hutomo, the eldest son of Tommy Soeharto, has captured public attention with his ambitious ventures, particularly his recent investment of Rp1.2 trillion into developing a golf course in Sentul, Bogor.
At just 25 years old, Darma holds a pivotal role as the Chief Commissioner of PT Intra GolfLink Resorts (IGR), a company dedicated to owning and managing golf courses.
Early Life and Education
Born on August 8, 1998, Darma is the first child of Tommy Soeharto and Ardia Pramesti Regita Cahyani, also known as Tata Cahyani. His upbringing was marked by educational opportunities both in Indonesia and abroad.
Darma completed his high school education at the Overseas Family School in Singapore, renowned for its rigorous academic standards and global outlook. The cost of education at this prestigious institution amounted to approximately SGD 21,100 per semester, excluding registration fees.
After graduating from high school, Darma pursued his undergraduate studies at the EU Business School in Barcelona, Spain, where he earned his Bachelor's degree in 2019.
Business Ventures and Involvements
Upon completing his education, Darma immersed himself in the world of business. Leveraging his familial wealth and business network inherited from the Soeharto family, Darma has been actively involved in various business ventures.
One notable venture is BOCA RICA Tapas Bar & Lounge, a Spanish-themed restaurant tailored to Indonesian tastes.
Strategic Vision for Golf and Tourism
Darma's most recent endeavor focuses on the expansion of the golf and tourism sectors. As the Chief Commissioner of PT Intra Golflink Resort Tbk (GOLF), Darma aims to launch the company's initial public offering (IPO) on the Indonesian Stock Exchange by July 8, 2024. The funds raised from this IPO will fuel the development of the company's golf courses.
In a statement, Darma expressed confidence in the promising future of golf tourism in Indonesia, highlighting the company's commitment to providing top-tier facilities and excellent service.
This, he believes, will position their golf courses as premier destinations for golf enthusiasts worldwide, contributing significantly to Indonesia's tourism and economic growth.
Financial Performance and Growth Strategy
Despite challenges posed by the COVID-19 pandemic, GOLF has demonstrated robust financial performance. In 2022, the company reversed its fortunes, turning a net loss of Rp32.04 billion into a net profit of Rp25.53 billion, marking a 136% increase year-on-year.
Darma has been instrumental in optimizing the company's assets, particularly through the development of the Luxury Boutique Hotel and New Kuta Golf Villa projects.
Future Prospects and Expansion Plans
Looking ahead, GOLF plans to utilize IPO proceeds to finance the construction of a 6-star Luxury Boutique Hotel at Pecatu Indah Resort, Jimbaran, Bali, and to acquire additional land for supporting facilities.
Moreover, PT New Kuta Golf and Ocean Vie (NKG), a subsidiary of GOLF, will develop the New Kuta Golf Villa project. The IPO is set to offer 3.1 billion shares, representing 15.02% of the company's total issued and paid-up capital.
Darma Mangkuluhur Hutomo emerges not just as a scion of the Soeharto family but as a dynamic entrepreneur and visionary leader in Indonesia's golf and tourism industries. His strategic initiatives not only aim to enhance shareholder value but also to elevate Indonesia's position as a global golfing destination.
With his blend of inherited wealth, international education, and entrepreneurial drive, Darma is poised to leave a lasting impact on Indonesia's business landscape.