Martua Sitorus (Thio Seng Hap or Ahok) is the founder of Wilmar International Limited, one of the biggest agrbusiness companies in Asia. The company, based in Singapore, most authentic production activities in Indonesia. In this country, Wilmar has approximately 48 operating companies. One of them is PT Multimas Nabati Asahan, which produces branded cooking oil Sania. At the end of 2005, a formal business group named Wilmar International Limited has total assets of U.S. $ 1.6 billion, total revenues of U.S. $ 4.7 billion, and net profit of U.S. $ 58 million.
More than that, the founder of Indonesia Wilmar is named Martua Sitorus. The man is 46-year-old comes from Siantar, North Sumatra. He is a graduate in economics from the University HKBP Nommensen, Medan, North Sumatra.
Initially Martua traded palm oil and palm oil small in Indonesia and Singapore. Gradually the business grew rapidly. And, in 1991 Martua able to have their own oil palm plantation area of 7100 hectares in North Sumatra. In the same year he managed to build a processing plant palm oil first. In 1996 Martua expand to Malaysia to build oil processing plant palm there.
Not satisfied with that, Martua begin to look downstream business (derived products) are more valuable. In 1998 Martua for the first time building a factory that produces specialty fats. Then in 2000 he also launched a consumer products brand Sania cooking oil.
Furthermore, year after year Martua growing business to become one of the largest agribusiness companies in Asia are integrated from upstream to downstream. As of December 31, 2005, Wilmar has a total land area of oil palm plantations 69,217 hectares, 65 factories, seven tankers, and 20,123 employees. Wilmar exports its products to more than 30 countries. Peak, Wilmar Martua record on the stock exchange in Singapore in August 2006 with a market capitalization reached U.S. $ 2 billion.
Thanks to his success, the figure Martua Sitorus also more prominent in the global business stage. Forbes magazine put Martua in ranked 14th in the list of 40 richest people in Indonesia in 2006. Net worth estimated at U.S. $ 475 million. "Palm Oil King", so called figure Martua Forbes.
Derom Bangun, chairman of the daily GAPKI (Indonesian Palm Oil), have been known Martua more than 10 years ago. And, he knew Martua success rate as now because of countless entrepreneurs who dared to enter the territories of new business. "He was brave enough to take risks, so quickly did he get a chance," he said.
Bungaran Saragih also argues matching. Former Minister of Agriculture had also been long recognized, and he saw Martua Martua as a young entrepreneur who is very dynamic, lots of ideas, and creative. "However, he is quite a low profile or do not want to stand out," the value of IPB's teacher.
A good friend who is reluctant Martua reveal unnamed original Martua, who has a nickname Hok, known only as a small supplier of palm oil. "He was a lot of buying oil from countries and companies to sell more abroad," he explained. However, because Martua which also named Hap Seng Thio this is a very low profile, not many people who know the business progress. "So, we were surprised too after seeing he was able to become a big business," he said.
Martua good friend was estimated Martua business can grow as fast, but was aggressive, he managed to catch the opening of sales opportunities in palm oil production plantation companies before state, the New Order era, only one controlled by the conglomerate group in Indonesia. Moreover, because the nature of export, Martua business undisturbed by the 1997 monetary crisis. Source Warta Ekonomi indicate if a big company in Jakarta that the crisis affected the average employee would have to cut earnings by 2.5%, then the employees get the benefits Wilmar crisis instead of 2.5%.
Martua Sitorus partnering with Kuok Khoon Hong
However, Martua Sitorus not alone in developing Wilmar Corporation. In the late 1980s, he established trading partnership with Kuok Khoon Hong. 57-year-old man was Robert Kuok's nephew, the king of the sugar business and property Malaysia. Both agreed to develop the business together. Wilmar own name mentioned is actually an abbreviation of both their names, namely William, a nickname Kuok Khoon Hong, and Martua Sitorus. They both are significant owners of Wilmar Holdings Pte Ltd (a holding company Wilmar International Ltd.). Both share the task, Kuok Khoon Hong as chairman & CEO and Martua as chief operating officer (COO) Wilmar International Ltd..
Martua Sitorus large family also play an important role in developing Wilmar Corp.. Wife (Rosa Taniasuri Ong), brother (Dual Sitorus), sister (Bertha, Pearl, and Thio Ida), and in-laws (Suheri Tanoto and Hendri Saksti) Martua held various key positions in Wilmar Corp.. In fact, Hendri Saksti entrusted to the head of Wilmar's business operations in Indonesia.
Hendri Saksti is not new to the oil business. President Director of PT Cahaya Kalbar Tbk. This began to join the Wilmar Corp.. as a branch manager of business operations Wilmar palm oil in Indonesia and later was appointed as finance director of Wilmar operations in Indonesia in 1996. Darius Na, former director of PT Cahaya Kalbar Tbk., Revealed previously Hendri also had a career in PT Astra Agro Lestari Tbk. Darius describes the figure as a businessman Hendri strict enough and have a business vision to always try to enlarge the capacity. "He counted the number of people who prioritize," he said.
Now, business Martua and Kuok Khoon Hong continues to grow. During the first nine months of 2006, revenues Wilmar Corp.. rose 7.8% to U.S. $ 3.7 billion compared to the same period of 2005 amounted to U.S. $ 3.4 billion. The net profit during the first nine months of 2006 grew 56.4% to reach U.S. $ 68.3 million compared to the same period of 2005 amounted to U.S. $ 43.6 million.
Mergers and Business Plan Biodiesel
Currently there are two issues that are sticking out of the Wilmar Corp.. First, the merger plan and business lines Wilmar Kuok Group, owned by tycoon Robert Kuok, in the field of agro-business (PPB Oil Palms Berhad, PGEO Group Sdn. Bhd., And Kuok Oil & Grains Pte Ltd). The merger transaction value reached U.S. $ 2.7 billion. This merger is expected to make Wilmar as one of the 15 largest companies in the Singapore stock exchange by market capitalization value. Therefore, this merger will provide an estimated potential Wilmar market capitalization of U.S. $ 7 billion. This merger is also expected to generate combined revenues of U.S. $ 10 billion and net income of U.S. $ 300 million during the first nine months of 2006.
Warta Ekonomi sources say the merger would not step out of the situation that occurred in the family tycoon Robert Kuok. Conglomerates grew older, but he did not feel comfortable submit agribusiness line Kuok Group to his children, so he turned back to the Kuok Khoon Hong, his nephew. In the beginning, actually Kuok Khoon Hong is also encouraging people agribusiness line Kuok Group. "However, because there are differences in vision, Kuok Khoon Hong Kuok opt out of the Group and pioneered their own business with Martua Sitorus," he said. Kuok Khoon Hong obtain supplies of palm oil from Martua and he then exported to various countries. "The combination of these embryos appeared Wilmar," he explained.
Second, Wilmar expansion plans into the biodiesel business. No half-hearted, they immediately kicked off with the construction of three biodiesel plants are scheduled to be completed this year was built entirely. Each has a production capacity of 350,000 tons per year so that the total capacity reached 1.050 million tons per year. So far, there are no biodiesel plants owned by other companies in the world which has a production capacity of Wilmar. In addition, if the merger plans were realized, the biodiesel plants owned PGEO Group Sdn. Bhd.. with a capacity of 100,000 tons per year will further strengthen Wilmar biodiesel business.
According to Alex Umboh, head of legal and corporate affairs Wilmar Corp.. in Indonesia, Wilmar biodiesel business is prospective because the demand was a lot. Apart from their own domestic demand also came from Europe, China, and the United States. Wilmar was ready memasoknya. "At Dumai's industrial area (where the three biodiesel plants located Wilmar), we also have been equipped with a port in," said Alex. So now not only Martua deserve the name "palm oil king of Asia", but also deserve to be called "king of biodiesel world".
