26 World’s Largest Palm Oil Companies from Indonesia
26 World’s Largest Palm Oil Companies from Indonesia- According to Annual Report of Palm Oil Companies in 2022, there are 26 World’s Largest Palm Oil Companies from Indonesia. These data were obtained from Annual Report of Palm Oil Companies in 2022.
Commonly, oil palm trees (Elaeis guineensis Jacq.) is one of world’s most planted tree species in 2022. Many countries including Indonesia planted this agricultural commodity because of the usefulness in making palm oil, soap, cosmetics, and others derivative products. Statistically, total world’s production of Oil Palm Fruit in 2021 reached 416 million tons with harvested areas around 29 million hectares (ha).
In this country, the production of oil palm fruits cannot be separated by contributions of corporations in Indonesia. Many companies in Indonesia can give the positive contribution to boost the production of oil palm fruits in Indonesia.
Overall, there are the 26 World’s Largest Palm Oil Companies from Indonesia. This data was obtained from Annual Report of the company in 2022. The companies that we analyzed are in public companies’ status. These companies have listed in stock markets meanwhile the closed companies cannot be analysed because of inabilities of access into financial reports. We do not analyse the closed companies.
The Assets and Liabilities of Palm Oil Companies from Indonesia
| Ranks | Name of Palm Oil Company | Assets | Assets | Liabilities | Liabilities |
|---|---|---|---|---|---|
| In Indonesian Rupiah (IDR) | (in US Dollar (USD)) | In Indonesian Rupiah (IDR) | (in US Dollar (USD)) | ||
| 1 | Sinar Mas Agro Resources and Technology (Smart) | 42,600 Billion | 3,042 Million | 23,353 Billion | 1,668 Million |
| 2 | Salim Ivomas Pratama, Tbk. (SIMP) | 36,113 Billion | 2,575 Million | 14,945 Billion | 1,067 Million |
| 3 | Astra Agro Lestari, Tbk. (AALI) | 29,249 Billion | 2,089 Million | 7,006 Billion | 500 Million |
| 4 | First Resources | 25,648 Billion | 1,832 Million | 6,062 Billion | 433 Million |
| 5 | Tunas Baru Lampung | 23,673 Billion | 1,690 Million | 16,841 Billion | 1,202 Million |
| 6 | Dharma Satya Nusantara, Tbk. (DSNG) | 15,357 Billion | 1,096 Million | 7,197 Billion | 514 Million |
| 7 | Triputra Agro Persada | 14,526 Billion | 1,037 Million | 4,113 Billion | 293 Million |
| 8 | Sawit Sumbermas Sarana, Tbk. (SSMS) | 13,696 Billion | 978 Million | 7,525 Billion | 537 Million |
| 9 | PP London Sumatra Indonesia, Tbk. (LSIP) | 12,417 Billion | 886 Million | 1,481 Billion | 105 Million |
| 10 | Eagle High Plantations, Tbk. (BWPT) | 12,223 Billion | 873 Million | 10,173 Billion | 726 Million |
| 11 | Sampoerna Agro, Tbk. (SGRO) | 10,243 Billion | 731 Million | 5,013 Billion | 358 Million |
| 12 | Austindo Nusantara Jaya, Tbk. (ANJT) | 8,428 Billion | 602 Million | 2,492 Billion | 178 Million |
| 13 | Bumitama Agri | 8,162 Billion | 583 Million | 3,312 Billion | 236 Million |
| 14 | Teladan Prima Agro | 5,224 Billion | 373 Million | 3,044 Billion | 217 Million |
| 15 | Bakrie Sumatera Plantations, Tbk. (UNSP) | 4,540 Billion | 324 Million | 10,496 Billion | 749 Million |
| 16 | Palma Serasih | 4,140 Billion | 295 Million | 2,454 Billion | 175 Million |
| 17 | Jaya Agra Wattie, Tbk. (JAWA) | 3,589 Billion | 256 Million | 3,471 Billion | 247 Million |
| 18 | Citra Borneo Utama | 3,019 Billion | 215 Million | 2,250 Billion | 160 Million |
| 19 | Jhonlin Agro Raya | 3,001 Billion | 214 Million | 1,847 Billion | 131 Million |
| 20 | Mahkota Group, Tbk. (MGRO) | 2,561 Billion | 182 Million | 1,916 Billion | 136 Million |
| 21 | Pradiksi Gunatama | 2,347 Billion | 167 Million | 918 Billion | 65 Million |
| 22 | Gozco Plantations, Tbk. (GZCO) | 2,045 Billion | 146 Million | 892 Billion | 63 Million |
| 23 | Cisadane Sawit Raya | 1,835 Billion | 131 Million | 872 Billion | 62 Million |
| 24 | Wilmar Cahaya Indonesia (CEKA) | 1,718 Billion | 122 Million | 168 Billion | 12 Million |
| 25 | Pinago Utama | 1,550 Billion | 110 Million | 842 Billion | 60 Million |
| 26 | Andira Agro, Tbk. (ANDI) | 444 Billion | 31.7 Million | 205 Billion | 14 Million |
| Currency Rate : | |||||
| Source : Annual Report, 2022 | |||||
| 1 US Dollar = 14,000 Indonesian Rupiah (IDR) | |||||
The assets and liabilities above can be obtained from Balance sheet of the company in 2022. Balance sheet describes the conditions of financial position of the company in running the business. The Balance sheet consists of assets, liabilities, and equities. Of the data above, the biggest value of assets are Sinar Mas Agro Resources and Technology (Smart), Salim Ivomas Pratama, Astra Agro Lestari, First Resources, and Tunas Baru Lampung.
The Revenue and Net Income / Losses of Palm Oil Companies from Indonesia
| Ranks | Rank of Companies | Revenue | Revenue | Profit / Loss | Profit / Loss |
|---|---|---|---|---|---|
| (Indonesian Rupiah (IDR)) | (in US Dollar ($)) | (Indonesian Rupiah (IDR)) | (in US Dollar ($)) | ||
| 1 | Sinar Mas Agro Resources and Technology (Smart) | 75,045 Billion | 5,360 Million | 5,504 Billion | 393 Million |
| 2 | First Resources | 17,150 Billion | 1,225 Million | 4,746 Billion | 339 Million |
| 3 | Bumitama Agri | 15,829 Billion | 1,130 Million | 3,398 Billion | 242 Million |
| 4 | Triputra Agro Persada | 9,345 Billion | 667 Million | 3,113 Billion | 222 Million |
| 5 | Sawit Sumbermas Sarana, Tbk. (SSMS) | 7,261 Billion | 518 Million | 1,848 Billion | 132 Million |
| 6 | Astra Agro Lestari, Tbk. (AALI) | 21,828 Billion | 1,559 Million | 1,792 Billion | 128 Million |
| 7 | Salim Ivomas Pratama, Tbk. (SIMP) | 17,794 Billion | 1,271 Million | 1,509 Billion | 107 Million |
| 8 | Dharma Satya Nusantara, Tbk. (DSNG) | 9,633 Billion | 688 Million | 1,206 Billion | 86 Million |
| 9 | Sampoerna Agro, Tbk. (SGRO) | 5,671 Billion | 405 Million | 1,039 Billion | 74 Million |
| 10 | PP London Sumatra Indonesia, Tbk. (LSIP) | 4,585 Billion | 327 Million | 1,035 Billion | 73 Million |
| 11 | Bakrie Sumatera Plantations, Tbk. (UNSP) | 4,189 Billion | 299 Million | 930 Billion | 66.4 Million |
| 12 | Tunas Baru Lampung | 16,579 Billion | 1,184 Million | 801 Billion | 57.2 Million |
| 13 | Teladan Prima Agro | 3,613 Billion | 258 Million | 573 Billion | 40.9 Million |
| 14 | Austindo Nusantara Jaya, Tbk. (ANJT) | 3,766 Billion | 269 Million | 295 Billion | 21.1 Million |
| 15 | Palma Serasih | 1,972 Billion | 140 Million | 257 Billion | 18.3 Million |
| 16 | Cisadane Sawit Raya | 970 Billion | 69.2 Million | 252 Billion | 18 Million |
| 17 | Citra Borneo Utama | 9,619 Billion | 687 Million | 223 Billion | 15.9 Million |
| 18 | Wilmar Cahaya Indonesia | 6,143 Billion | 438 Million | 220 Billion | 15.7 Million |
| 19 | Pinago Utama | 2,034 Billion | 145 Million | 173 Billion | 12.3 Million |
| 20 | Pradiksi Gunatama | 1,007 Billion | 71 Million | 167 Billion | 11.9 Million |
| 21 | Gozco Plantations, Tbk. (GZCO) | 554 Billion | 39 Million | 75.8 Billion | 5.4 Million |
| 22 | Jhonlin Agro Raya | 4,707 Billion | 336 Million | 41.6 Billion | 2.9 Million |
| 23 | Eagle High Plantations, Tbk. (BWPT) | 4,574 Billion | 326 Million | 12.6 Billion | 0.9 Million |
| 24 | Andira Agro, Tbk. (ANDI) | 317 Billion | 22 Million | (-10.7 Billion) | (-0.76 Million) |
| 25 | Mahkota Group, Tbk. (MGRO) | 7,505 Billion | 536 Million | (-28 Billion) | (-2 Million) |
| 26 | Jaya Agra Wattie, Tbk. (JAWA) | 971 Billion | 69 Million | (-290 Billion) | (-20.7 Million) |
| Currency Rate : | |||||
| Source : Annual Report, 2022 | |||||
| 1 US Dollar = 14,000 Indonesian Rupiah (IDR) | |||||
Besides ranked based on Assets, we also Ranked the Palm Oil Companies based Net Income. Commonly, the revenue and Net Income of the company was obtained from Income Statements of Annual Report in 2022. Commonly, Income Statements can describe the business performance of the company in specific time. Overall, in the rank table above, the highest net income in 2022 are Sinar Mas Agro Resources and Technology, First Resources, Bumitama Agri, Triputra Agro Persada, Sawit Sumbermas Sarana, Astra Agro Lestari, and Salim Ivomas Pratama.
Brief Description of 26 World’s Largest Palm Oil Companies from Indonesia
1. Sinar Mas Agro Resources and Technology (Smart)
Sinarmas Agro Reources and Technology (SMART) was an agribusiness oil palm company that was founded on 1962. Basically, Smart Agro Reosurces and Technology still becomes a part of subsidary of Sinar Mas Group. This Group was founded by Eka Tjipta Widjaja (1921-2019). In the beginning period, the name of SMART was PT Maskapai Perkebunan Sumcama Padang Halaban.
Along with business development, SMART has managed 136 thousand hectares oil palm plantations in Indonesia, including partnership land area with local farmers. Beside its agronomy activity, SMART also process the harvested fruits into some delivered products, namely cooking oil, margarine, shortening, biodiesel, oleochemicals and other derivative products. In Indonesia, some final products of SMART are Filma dan Kunci Mas. Many Indonesian people still used these products in cooking process.
Financially, according to Sinar Mas Agro Annual Report in 2022, this company has assets around IDR 42,600 billion / USD 3,042 Million with liabilities around IDR 23,353 billion / USD 1,668 Million. Based on business performance in 2022, Sinar Mas Agro can generate Revenue around IDR 75,045 billion / USD 5,360 million with net Income around IDR 5,504 billion / USD 393 million.
2. Salim Ivomas Pratama
Salim Ivomas Pratama is an agrobusiness company owned by Salim Group (Indofood). Historically, this company was founded in 1992. To Date, this group of company was led by Anthony Salim. Until 2022, in Indonesia, Salim Ivomas has a total planted oil palm area of 244,768 hectares of oil palm. In processing facilities, Salim has 27 palm oil mills across Sumatra and Kalimantan with a combined Fresh Fruit Bunches (FFB) processing capacity around 7.2 million tonnes per annum. In 2022, based on performance, Nucleus fruits Production of Salim reached 2.8 million tons with Crude palm Oil (CPO) production around 726 thousand tons. Some of final products from Salim Ivomas area consumer cooking oil products under the brands Bimoli, Bimoli Special, and Happy, while consumer margarine products are marketed under the brands Amanda, Palmia, and Royal Palmia.
3. Astra Agro Lestari, Tbk
Astra Agro Lestari is an agrobusiness company that was founded in 1988. This company still become the subsidiary company of Astra International. To Date, Astra Agro Lestari manages oil palm area of 287,044 hectares spread over the island of Sumatra, Kalimantan, and Sulawesi. From this area, 214,815 hectares are self-managed plantations while 72,229 hectares are partnership plantations with local farmers.
Financially, Astra Agro Lestari has assets around IDR 29,249 billion / USD 2,089 million with liabilities around IDR 7,006 billion / USD 500 million. Based on the business performance in 2022, Astra Agro Lestari can generate revenue around IDR 21,828 billion / USD 1,559 million with net income around IDR 1,792 billion / USD 128 million
4. First Resources
Established in 1992, First Resources still managed over 200,000 hectares of oil palm plantations across the Riau, East Kalimantan, and West Kalimantan provinces of Indonesia. Commonly, this company do the cultivating oil palms, harvesting the fresh fruit bunches (FFB) and milling them into crude palm oil (CPO) and palm kernel (PK).
Financially, in 2022, First Resources has assets around IDR 25,648 billion / USD 1,832 Million with Labilities around IDR 6,062 billion / USD 433 Million. Based on the business performance in 2022, the First Resources can generate revenue around IDR 17,150 billion / USD 1,225 million with net income around IDR 4,746 billion / USD 339 Million.
5. Tunas Baru Lampung
Tunas Baru Lampung started the business in 1973 and still become one of the subsidiary companies of Sungai Budi Group. Operationally, Tunas Baru Lampung managed the Oil Palm around 79,820 hectares (Ha) spread over Lampung, South Sumatera, North Borneo. Financially in 2022, Tunas Baru Lampung has assets around IDR 23,673 billion / USD 1,690 million with liabilities around IDR 16,841 billion / USD 1,202 million. Based on the business performance, Tunas Baru Lampung generate revenue around IDR 16,579 billion / USD 1,184 million with Net Income around IDR 801 billion / USD 57.2 million.
6. Dharma Satya Nusantara
Dharma Satya Nusantara is Indonesia’s Palm Oil company that started its business on 29 September 1980. Overall, this company still managed 112.5 thousand hectares of Oil Palm. Most of its plantation located in Borneo Island. Furthermore, the company has 12 of Palm Oil Mills with a capacity of up to 675 tonnes per hour.
Financially in 2022, the company has assets around IDR 15,357 billion / USD 1,096 million with liabilities around IDR 7,197 billion / USD 514 million. Based on the business performance in 2022, Dharma Satya Nusantara can generate the revenue around IDR 9,633 billion / USD 688 million with net income around net Income IDR 1,206 billion / USD 86 million.
7. Triputra Agro Persada
Triputra Agro Persada started its business in 2005. Hitoricaly, this company was founded by T.P Rachmat and Subianto. To Date, until 2022, Triputra Agro Persa has managed 162 thousand hectares (Ha) of Oil Palm Plantation spread over Sumatera and Kalimantan / Borneo.
Financially, Triputra Agro Persada has assets around IDR 14,526 billion / USD 1,037 Million with Liabilities around IDR 4,113 billion / USD 293 Million. Based on the business performance, Triputra gained revenue around IDR 9,345 billion / USD 667 million with Net Income around Net Income IDR 3,113 billion / USD 222 million.
8. Sawit Sumbermas Sarana
Sawit Sumberamas Sarana is Indonesian Palm Oil Company. Statistically, this company manage a total of 116,029 Ha of oil palm plantation area either managed by the company directly or partnership with smallholders’ farmers. Commonly, Citra Borneo Utama still become the main shareholders of Sawit Sumbaramas with percentage of ownership around 54,3 %.
Financially, in 2022, Sawit Sumberamas Sarana has assets around IDR 13,696 billion / USD 978 million with Liabilities around IDR 7,525 billion / USD 537 million. Based on the business performance in 2022, Sawit Sumberamas gained revenue around IDR 7,261 billion / USD 518 million with net income IDR 1,848 billion / USD 132 million.
9. PP London Sumatra Indonesia
London Sumatera Plantation an Indonesian Oil Palm founded in 1906 with the innitiation of Harrisons & Crosfield Plc. Nowadays, PT Salim Ivomas Pratama Tbk (SIMP) has become the main shareholders of London Sumatera Plantation with its acquisition in 2007. Operationally, Lonsum’s estates are in Sumatra, Kalimantan Sulawesi. As of December 31, 2022, total planted area of oil palm reached 91,151 hectares of oil palm. Furthermore, London Sumatera operates 12 palm oil mills in Sumatra and Kalimantan, with a total combined annual Fresh Fruit Bunch (FFB) processing capacity of 2.7 million tonnes.
Financially, in 2022, London Sumatera has assets around IDR 12,417 billion / USD 886 million with liabilities around IDR 1,481 billion / USD 105 million. Based on the business performance in 2022, London Sumatera Indonesia generated revenue around IDR 4,585 billion / USD 327 Million with net income around IDR 1,035 billion / USD 73 Million.
10. Eagle High Plantations
PT Eagle High Plantations is Indonesian Oil Palm company which established on November 6, 2000, under the name PT Bumi Perdana Prima International and changed its name to PT BW Plantation Tbk in 2007. Since October 27, 2009, the Company’s shares have been listed and traded on the Indonesia Stock Exchange (IDX) with the stock code BWPT. In 2014, the Company entered into an agreement to acquire 100% share ownership in the Green Eagle Group and the Company changed its name to PT Eagle High Plantations Tbk. Operationally, until 2023, total oil palm plantation reached 87 thousand hectares (Ha) spread into Sumatera, Kalimantan, and Papua and has 7 processing mills.
Financially, in 2022, the Eagle High Plantations has assets aroundIDR 12,223 billion / USD 873 million with Liabilities around IDR 10,173 billion / USD 726 million. According to business performance in 2022, the Eagle High Plantation generated revenue around IDR 4,574 billion / USD 326 million with net income around IDR 12.6 billion / USD 0.9 million.
11. Sampoerna Agro, Tbk
PT Sampoerna Agro Tbk (SGRO) was established under the name of PT Selapan Jaya on 7 June 1993. Furthermore, the name of company was subsequently changed to PT Sampoerna Agro Tbk in 2007. Operationally, the oil palm plantation of Sampoerna Agro in 2022 reached 183,809 hectares (ha). In processing facilities, Sampoerna Agro operated 8 oil palm mills, 5 of which located in Sumatra and 3 others in Kalimantan.
Financially, in 2022, according to annual Report, Sampoerna Agro has assets around IDR 10,243 billion / USD 731 million with liabilities around IDR 5,013 billion / USD 358 million. Based on the business performance, Sampoerna Agro generated revenue around IDR 5,671 billion / USD 405 million with net income around IDR 1,039 billion / USD 74 million.
12. Austindo Nusantara Jaya
Historically, Austindo Nusantara Jaya was established on April 16, 1993. As of December 31, 2022, Austindo Nusantara Jaya had a total landbank of more than 150,000 hectares across Sumatera, Kalimantan, and Papua.
Financially in 2022, Austindo Nusantara Jaya has assets around IDR 8,428 billion / USD 602 Million with liabilities around IDR 2,492 billion / USD 178 million. Based on the business performance in 2022, Austindo Nusantara Jaya generated revenue around IDR 3,766 billion / USD 269 million and Net Income around IDR 295 billion / USD 21.1 million.
13. Bumitama Agri
Historically, Bumitama is Indonesian Palm Oil company which was founded in 1996. Since 2012, this company listed its share on the Singapore Exchange. Bumitama Agri managed 90 thousand hectares of oil palm plantation in Indonesia. Furthermore, Bumitama also operates a total of 15 mills with a processing capacity of 6.4 million metric tonnes annually.
Financially, in 2022, Bumitama has assets around IDR 8,162 billion / USD 583 Million with Liabilities around IDR 3,312 billion / USD 236 Million. Based on business performance in 2022, Bumitata Agri generated revenue around IDR 15,829 billion / USD 1,130 Million and net income around IDR 3,398 billion / USD 242 Million.
14. Teladan Prima Agro
Teladan Prima Agro Tbk was established on 10 May 2004. Nowadays, this company has planted area under management of 60,561 Ha, consisting of 48,608 Ha of nucleus plantations and 11,953 Ha of plasma plantations. Furthermore, total capacity of 6 Mills around 335-ton Fresh Fruit Bunch / hour.
Financially, in 2022, the assets of Telada Prima Agro reached IDR 5,224 billion / USD 373 million with liabilities around IDR 3,044 billion / USD 217 million. Based on the business performance in 2022, the revenue of Teladan Prima Agro reached IDR 3,613 billion / USD 258 million and net income around IDR 573 billion / USD 40.9 Million.
15. Bakrie Sumatera Plantations
PT Bakrie Sumatera Plantations entered the palm oil business in 1992. From 1986 until now, PT Bakrie & Brothers still become the main shareholder of Bakrie Sumatera Plantation shares. Financially, in 2022, the Bakrie Sumatera Plantation has assets around IDR 4,540 billion / USD 324 million and liabilities around IDR 10,496 billion / USD 749 Million. Based on the business performance in 2022, Bakrie Sumatera Plantation generated revenue around IDR 4,189 billion / USD 299 million with net income around IDR 930 billion / USD 66.4 Million.
16. Palma Serasih
Historically, Palma Serasih was founded on June 3, 2008. Operationally, along with business development, Nucleus and Plasma Planted Area of Palma Serasih around 35 thousand hectares. Furthermore, Palmia Serasih also has 2 (two) palm oil mills in East Kalimantan.
Financially, in 2022, Palmia Serasih has assets around IDR 4,140 billion / USD 295 million and Liabilities around IDR 2,454 billion / USD 175 million. Based on business revenue, Palmia Serasih generated revenue around IDR 1,972 billion / USD 140 million with Net Income around IDR 257 billion / USD 18.3 million.
17. Jaya Agra Wattie
Jaya Agra Wattie is Agribusiness company which has produced more than over 38,000 tons of CPO in 2013 with planted areas around 21 thousand tons. Financially, in 2022, Jaya Agra Wattie has assets around IDR 3,589 billion / USD 256 million with Liabilities around IDR 3,471 billion / USD 247 million. Based on the business performance in 2022, Jaya Agra Wattie generated revenue around IDR 971 billion / USD 69 million but suffered net loss around IDR (-290 Billion) / USD (-20.7 million).
18. Citra Borneo Utama
The establishment of Citra Borneo Indah happened in 2013. In processing unit, Citra Borneo Indah is supported by refinery and fractionation plants with a total capacity of 2,500 tons of CPO per day or 850,000 tons of CPO per year. Financially, in 2022, the assets of Borneo reached IDR 3,019 billion / USD 215 million with Liabilities around IDR 2,250 billion / USD 160 million. Based on the business performance, Citra Borneo Utama generated revenue around IDR 9,619 billion / USD 687 million with Net Income around IDR 223 billion / USD 15.9 million.
19. Jhonlin Agro Raya
Historically, Jhonlin Agro Raya was established on April 30th, 2014. Along with business development, Jhonlin Agro has an oil palm plantation area of 17,020 Hectares. Financially, in 2022, Jhonlin Agro Raya has assets around IDR 3,001 billion / USD 214 Million with Liabilities around IDR 1,847 billion / USD 131 million. Based on the business performance, Jhonlin Agro Raya generated revenue around IDR 4,707 billion / USD 336 million and Net Income around IDR 41.6 billion / USD 2.9 million.
20. Mahkota Group
PT Mahkota Group has main office in Medan, North Sumatra which was established on January 7, 2011. Until now, the company is engaged in the business of processing palm oil and its derivatives as well as leasing storage tanks. The total number of employees is one thousand employees. Currently the operational area of the subsidiary company PT. Mahkota Group, Tbk includes two palm oil mills in North Sumatra and four palm oil mills in Riau province as well as Bulking Station in Dumai.
Based on annual report in 2022, Mahkota Group has assets around IDR 2,561 billion / USD 182 Million with Liabilities around IDR 1,916 billion / USD 136 Million. Based on the business performance in 2022, Mahkota Group generated revenue around IDR 7,505 billion / USD 536 Millionbut suffered net loss around IDR (-28 Billion) / USD (-2 Million).
21. Pradiksi Gunatama
Padiksi Gunatama is an oil palm plantation company. Historically, this company started its business in 1995. Operationally, until 2022, Padiksi Gunatama has managed 22,500 hectares of Oil Palm. Financially, in 2022, Padiksi Gunatama has assets around IDR 2,347 billion / USD 167 million with liabilities around IDR 918 billion / USD 65 million. Based on the business performance in 2022, the Padiksi Gunatama gained revenue around IDR 1,007 billion / USD 71 million and gained net income around IDR 167 billion / USD 11.9 million.
22. Gozco Plantations
PT Gozco Plantations Tbk. was initially established as a limited liability company under the name PT Surya Gemilang Sentosa, in Sidoarjo, East Java in 2001. However, in 2007, the company changed its name to PT Gozco Plantations after moving to South Jakarta. Operationally, The Company’s major operations include tree planting, fresh fruit bunch production and processing of palm oil and palm kernel. Until 2020, the total plantation area reached 23,749 hectares with 38,889 tons of Crude Palm Oil (CPO) production in 2020.
Financially, in 2022, the Assets of Gozco Plantation reached IDR 2,045 billion / USD 146 Million with Liabilities around IDR 892 billion / USD 63 million. Based on the business performance in 2022, the revenue of Gozco Plantation reached IDR 554 billion / USD 39 Million with generating net income around IDR 75.8 billion / USD 5.4 million
23. Cisadane Sawit Raya
PT Cisadane Sawit Raya Tbk was founded on October 28, 1983, by Mr. Rudi Suhenda and Mrs. Johanna Wirjoprawiro. Until now, the Company has oil palm plantations with a business area of 29,000 hectares and planted area of 19,334 hectares with Fresh Fruit Bunch (FFB) production reaching 342,001 tons per year. The total number of employees of the Company and its subsidiaries as of December 2022 is 4,050 people.
Financially, in 2022, Cisadane Sawit Raya has assets around IDR 1,835 billion / USD 131 million with liabilities about IDR 872 billion / USD 62 million. Based on business in 2022, Cisadane Sawit Raya generated revenue around IDR 970 billion / USD 69.2 million with net income around Net Income IDR 252 billion / USD 18 million.
24. Wilmar Cahaya Indonesia
The Company was founded in 1968 as CV Tjahaja Kalbar. The Company became a Limited Liabilities Company in 1998, changed its name to PT Cahaya Kalbar. In 1996 the Company made an initial public offering on the Indonesia Stock Exchange with the ticker code CEKA. In 2013, the Company changed its name to PT Wilmar Cahaya Indonesia Tbk. Until now, Wilmar Cahaya still become a subsidiary company of Wilmar International.
Financially in 2022, Wilmar Cahaya Indonesia has assets around IDR 1,718 billion / USD 122 Million with Liabilities around IDR 168 billion / USD 12 Million. Based on the business performance in 2022, Wilmar Cahaya generated revenue around IDR 6,143 billion / USD 438 Million with net income around IDR 220 billion / USD 15.7 Million.
25. Pinago Utama
Historically, Pinago Utama was established May 12, 1979. Commonly, Pinago is engaged in the oil palm and rubber plantation business. The products produced by the Company are Fresh Fruit Bunches (FFB), Palm Kernel, Crude Palm Oil, Crumb Rubber, Rubber, and others.
Financially, Pinago Utama has assets around IDR 1,550 billion / USD 110 Million with Liabilities around IDR 842 billion / USD 60 Million. In business performance of 2022, Pinago Utama generated revenue around IDR 2,034 billion / USD 145 Million and gained net income around IDR 173 billion / USD 12.3 Million.
26. Andira Agro
The company was founded on April 28, 1995, under the ownership share of PT. Meta Epsi (67.88%) and PT. Anugerah Perkasa Semesta (32.12%). In 2018, this company listed its shares on the Indonesia Stock Exchange. Location The company’s plantations are in the vicinity of South Sumatra. Until 2019, the area of oil palm plantations reached ± 10,000 hectares.
Financially, in 2022, Andira Agro has assets around IDR 444 billion / USD 31.7 million with total liabilities around IDR 205 billion / USD 14 million. Based on the performance, Andira Agro generated revenue around IDR 317 billion / USD 22 million but suffered Net Loss IDR (-10.7 Billion) / USD (-0.76 million).
Summary of Largest Oil Palm Companies Based on Assets
Summary of Largest Oil Palm Companies Based on Profit / Net Income
Bibliography 26 World’s Largest Palm Oil Companies from Indonesia
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Teladan Prima Agro. Annual Report 2022. Accessed Via https://www.teladanprima.com/ on July 2nd, 2023.
Bakrie Sumatera Plantations. Annual Report 2022. Accessed Via https://www.bakriesumatera.com/ on July 2nd, 2023.
Palma Serasih. Annual Report 2022. Accessed Via https://palmaserasih.co.id/ on July 2nd, 2023.
Jaya Agra Wattie. Annual Report 2022. Accessed Via https://www.jawattie.com/ on July 2nd, 2023.
Citra Borneo Utama. Annual Report 2022. Accessed Via https://www.citraborneoutama.co.id/ on July 2nd, 2023.
Jhonlin Agro Raya. Annual Report 2022. Accessed Via https://www.ptjar.com/ on July 2nd, 2023.
Mahkota Group. Annual Report 2022. Accessed Via https://mahkotagroup.com/ on July 2nd, 2023.
Pradiksi Gunatama. Annual Report 2022. Accessed Via https://www.pradiksi.co.id/ on July 2nd, 2023.
Gozco Plantations. Annual Report 2022. Accessed Via http://www.gozco.com/ on July 2nd, 2023.
Cisadane Sawit Raya. Annual Report 2022. Accessed Via https://www.csr.co.id/ on July 2nd, 2023.
Wilmar Cahaya Indonesia. Annual Report 2022. Accessed Via https://www.wilmarcahayaindonesia.com/ on July 2nd, 2023.
Pinago Utama. Annual Report 2022. Accessed Via https://www.pinagoutama.com/ on July 2nd, 2023.
Andira Agro. Annual Report 2022. Accessed Via https://www.andiraagro.com/id on July 2nd, 2023.