Who Is Low Tuck Kwong? Winner of the Rp 6.5 Billion Auction for SBY's Fire Horse Painting

Jakarta, VIVA – A painting by Indonesia’s sixth President and Chairman of the Democratic Party’s High Council, Susilo Bambang Yudhoyono (SBY), sold for Rp 6.5 billion at an auction held during the Democratic Party’s Chinese New Year 2577 Kongzili celebration at Djakarta Theater on Wednesday, 18 February 2026.

The painting, entitled “Strong and Energetic Like a Fire Horse”, depicts a blue horse galloping with a mane resembling blazing orange flames. SBY revealed the philosophical meaning behind the work, explaining that the “Fire Horse” symbolises determination, energy and strength in pursuing one’s goals.

“Therefore, in this painting, I placed the fire horse in a serene, peaceful environment. The blue here symbolises peace,” he said.

The winning bid of Rp 6.5 billion was submitted by Dato Low Tuck Kwong.

“Rp 6.5 billion from Dato Low, Bayan Resources. 3, 2, 1. We close. Congratulations Dato Low,” said Ossy Dermawan, Head of the Democratic Party’s BPOKK, during the auction session.

According to various sources, Dato Low Tuck Kwong is the founder of Bayan Resources, a coal mining company in Indonesia. PT Bayan Resources Tbk operates in open-cut mining with four major projects located in East Kalimantan and South Kalimantan.

In 2025, he was ranked as Indonesia’s wealthiest individual, with a total fortune of USD 27.4 billion.

Beyond his business pursuits, Low Tuck Kwong is also known as a generous entrepreneur. The Low Tuck Kwong Foundation donated SGD 8 million to Nanyang Technological University (NTU) Singapore, which was used to strengthen the university’s commitment to accessible education and global talent development. The funds were allocated to finance scholarships for undergraduate students, with additional scholarships prepared to attract top Indonesian students to pursue full-time master’s programmes at NTU.

Furthermore, in 2023, the Lee Kuan Yew School of Public Policy (LKYSPP) at the National University of Singapore (NUS) received a donation of SGD 101 million from the Low Tuck Kwong Foundation for scholarships aimed at expanding opportunities for young people across Asia.