Rasjid had served in the Indonesian Army and originated from Palembang, while his mother Suniawati was of mixed Sundanese-Chinese descent.

During the Asian financial crisis, Rasjid helped restructure of the company owned by Lasmono's father Sudwikatmono [id].

Rasjid and Lasmono began showing an interest in the energy sector in 2002, initially intending to invest in power generation before discovering a strong demand from China for coal.

The pair received funding from South Korean banks, and Indika Energy [id] began operations in 2005.

[4] In July 2021, Rasjid was elected by acclamation as chairman of the Indonesian Chamber of Commerce and Industry (KADIN) for the 2021–2026 term, replacing Rosan Roeslani.