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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

GIC helps Indonesian billionaires bet on Palm Oil

Posted on 14 September 2012

Arif RachmatTriputra Agro Persada, the palm oil company owned by Indonesian billionaires Theodore Rachmat and Benny Subianto, will increase its planted area by two-thirds by 2015 as it prepares for an initial stock sale.
Triputra Agro Persada has been buying plantations since it was set up in 2005 and currently owns about 300,000 hectares (740,000 acres), Chief Executive Officer Arif Rachmat said in an interview in Jakarta Sept. 7. It plans to increase its planted areas to at least 200,000 hectares from more than 120,000 hectares with the help of funding from TPG Capital’s Indonesian partner, Northstar, and Government of Singapore Investment Corp………………………………………..Full Article: Source


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