Son shows his father's entrepreneurial flair

STEPHEN Riady is the high-flying son of Mochtar Riady, an Indonesian Chinese tycoon.

Mr Mochtar Riady built his empire, which now sprawls across Asia and into the United States, from humble beginnings in a bicycle shop in Java and became one of one of Indonesia's most well-known bankers.

Mr Stephen Riady started taking power in his father's empire at an early age, following a degree at the University of Southern California, and was the director of a bank as early as 1985, when he was just 26 years old.

Now in his early 30s, Mr Riady is chairman of Lippo Group, the group's main listed vehicle in Hong Kong, with a market value of about $12 billion, while his father is semi-retired in the post of honorary chairman.

The group's distinctive logo, similar to the mathematical symbol for infinity, stands proudly at the top of the twin blocks that make up the Lippo Building in Admiralty.

The group also has a substantial stake in Hongkong Chinese Bank and controls Hongkong China Ltd, a property investment vehicle on the stock exchange, and stockbroker Lippo Asia. LEE Ming Tee remains one of the most intriguing characters in Hong Kong business, in spite of retiring from the boards of all the listed firms in his Allied Group empire seven months ago.

The resignations followed a high-profile report by a government inspector on his company's dealings.