As another Indonesian, I can confirm Benny Ohorella's translation as the only accurate one, as the other translations have nothing to do with the original song. To improve on his translation:

Suliram, suliram, ram, ram
Suliram yang manis
Aduhai indung seorang
Bijaklah sana dipandang manis

Suliram, suliram, ram, ram
Suliram who is so sweet
Oh my, who's daughter is this
It is only wise that she's seen as sweet

Tinggi lah, tinggi, si matahari
Suliram, anaklah kerbau mati tertambat
Suliram, sudahlah lama saya mencari
Baru sekarang saya mendapat

Up on high, oh so high the sun is
Suliram, the child of the buffalo is dead on a leash
Suliram, oh for how long have I seek
It is only now that I have found you

Lah suliram, suliram, ram, ram
Suliram yang manis
Aduhai indung seorang
Bijaklah sana dipandang manis

Oh Suliram, suliram, ram, ram
Suliram who is so sweet
Oh my, who's daughter is this
It is only wise that she's seen as sweet

*Several notes about the song
1. This song, while known abroad as "Suliram", is better known in Indonesia as "Soleram" and in Malaysia as "Suriram".

2. The word Suliram/Soleram/Suriram itself seem to have no special meaning, with the most plausible explanation being that it's a (somewhat archaic sounding) Malay name. (Keep in mind Malays are native to Indonesia, Malaysia, Brunei, Singapore, and Thailand) with Indonesian (my native tongue) being based on Malay from the island of Sumatra.

3. The middle line about "the sun" and the "dead buffalo" has no hidden meaning, as it's part of a pantoum/pantun, which is a Malay form of poetry, where the first two lines are gibberish, used only for the rhymes in its final syllables. Meaning is found in the latter two lines (about "seeking" and "finding"), with the final syllable of the odd and even line rhyming with each other, respectively.

4. There exist many different versions of Suliram/Soleram/Suriram, each with a different lyric, with the only similarity being the first two lines of the refrain, and its nature as a lullaby/children's song.