|Astra Agro Lestari in Brief|
PT Astra Agro Lestari Tbk ("the Company") is a leading palm oil producer in Indonesia, was established 32 years ago and remains strongly committed to delivering high quality palm oil products to the domestic and export markets.
The Company has been a public company listed on the Indonesian Stock Exchange (IDX) (formerly the Jakarta Stock Exchange and the Surabaya Stock Exchange) since December 1997, with public investors currently holding 20.3% of the shares. Company share prices have been steadily increasing, from Rp 1,550 per share at the Initial Public Offering (IPO) in 1997 to Rp 19,700 per share at the end of IDX trading on December 31, 2012.
The origins of the Company stretch back to the year of 1983, when its holding company, PT Astra International Tbk, decided to expand into agriculture by establishing a new business unit, initially tasked to manage cassava and rubber plantations.
Having a vision at that time that palm oil would be very promising, management decided to focus on developing the palm oil business. In 1984, management acquired PT Tunggal Perkasa Plantations, which had about 15,000 hectares of oil palm plantations in Riau, on Sumatra. In 1988, PT Astra International Tbk decided to set up the palm oil business unit as a new entity named PT Suryaraya Cakrawala to further strengthen its basis in the palm oil industry. In 1989, it was changed to PT Astra Agro Niaga. In 1997, PT Astra Agro Niaga was merged with PT Suryaraya Bahtera with the new name, PT Astra Agro Lestari.
After a series of mergers, acquisitions, new developments and restructuring, PT Astra Agro Lestari Tbk has total assets of Rp 12.42 trillion as at the end of 2012. The Company now employs around 28,109 permanent employees to manage its total 272,994 hectares of palm oil plantations in Sumatra, Kalimantan and Sulawesi consisting of 212,622 hectares of nucleus estates and 60,372 hectares of plasma estates.
The Company's ongoing success stems from its steady determination to become the most productive and innovative agribased company in the world. Such efforts have so far paid off with high profitability and a number of awards for achievements in maintaining good performance and by continually giving positive value to all stakeholders.