The Ning King Passes Away, Traces Of The Business Of The Alam Sutera Developer

JAKARTA - Senior entrepreneur and property conglomerate The Ning King passed away in Singapore on Sunday, November 2, 2025, at the age of 94. The late is known as the founder of Argo Manunggal Group, which is the main controller of PT Alam Sutera Realty Tbk (ASRI).

The sad news was confirmed directly by Alam Sutera Realty through her official social media account.

"My deepest condolences for my passing away to Father's House in Heaven, Mr. Ning King," wrote the Instagram account @alam_sutara_realty, quoted Monday, November 3.

The Ning King started his career in the textile industry in 1949, focusing on textile trading. He then set up his first textile factory in Salatiga, Central Java, in 1961.

His business journey grew when he founded PT Argo Pantes Tbk (ARGO) in 1977, which became the forerunner of the birth of the large conglomerate Argo Manunggal Group.

The group then expanded its wings to various sectors, ranging from mining, energy, piping, property, industrial estates, to agribusiness, and now operating in a number of major cities in Indonesia.

Seeing great potential in the property sector, The Ning King founded PT Alam Sutera Realty Tbk (ASRI) which focuses on developing residential and commercial areas. In 1994, ASRI began building an integrated area of Alam Sutera in Serpong, Tangerang, on an area of 800 hectares.

The launch of the project was extraordinary, with more than 1,100 housing units sold in just two weeks. Since then, Alam Sutera has continued to expand its development, presenting more than 37 housing clusters, each containing between 150 and 300 units.

The Ning King has two children, one of whom is Hungkang Sutedja. While his son-in-law, Haryanto Tirtohadiguno, plays an important role in expanding the family business, especially in the property sector.

In 2007, ASRI was officially listed on the Indonesia Stock Exchange (IDX), marking an important milestone in the company's growth. This success brought The Ning King on the Forbes list of 50 richest people in Indonesia in 2017.

One of the monumental projects developed is the Garuda Wisnu Kencana Statue (GWK) in Bali, which is now an icon of national tourism and a symbol of a proud cultural heritage.

Apart from property, The Ning King also strengthened its business in manufacturing and construction through Industrial by Argo Manunggal (IAM), which oversees a number of companies such as Cakasteel, a light steel producer for various construction needs.

Meanwhile, his textile business line is now operating under Lifestyle by Argo Manunggal Group, which oversees PT Argo Pantes Tbk (ARGO) and PT Argo Manunggal Triasta.