PT Golden Plantation Tbk (Company) entered the palm oil business through the acquisition of PT Bumiraya Investindo (BRI) located in South Kalimantan. The Company conducted an initial public offering of 800,000,000 shares of common stock to the public on December 11, 2014 and then all shares were listed on the Indonesia Stock Exchange on December 23, 2014. The Company currently has nine oil palm plantations, located in South Kalimantan, Central Kalimantan, West Kalimantan, Riau, South Sumatra and Jambi with a concession area of 63,441 ha, of which 24,682 ha (or about 39% of the total concession area) is planted. About 47% of the total planted land has yielded. The remaining undeveloped areas are land reserves that have prospects for development by the Company and Subsidiaries. The Company$conns subsidiary, PT BRI, owns an oil palm factory with a production capacity of 30 MT TBS/hour which can be increased to 45 MT TBS/hour. This oil palm plant has been operating since 1Q 2013. As of December 31, 2016, the Company and Subsidiaries have 1,372 permanent employees and 2,044 non-permanent employees.
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