Comment
Sinar Mas operates its agribusiness and food pillar through Golden Agri-Resources Ltd. (“GAR”), a company listed on the Singapore Exchange in 1999. This ownership is structured through a range of subsidiaries: Ascent Wealth Investment Ltd, Massingham International Ltd, Golden Moment Ltd (Cayman Island). These entities are wholly-owned subsidiaries of Flambo International registered in the British Virgin Islands), which in turn is owned by the Widjaja Family Master Trust and ultimate owner of all Sinar Mas Group entities.