- Business
- PT Multi Agro Gemilang Plantation Tbk (MAGP.JK) engages in the oil palm plantation business in Indonesia, encompassing the cultivation of oil palm, harvesting of fresh fruit bunches (FFB), processing of crude palm oil (CPO), palm kernels, and palm kernel oil. The company operates plantation areas totaling approximately 50,000 hectares across key regions including Aceh, West Kalimantan, and Jambi through its subsidiaries PT Boswa Megalopolis, PT Brent Multidaya, and PT Bumi Orion Sawit Subur. Its products serve diverse applications in food processing, cosmetics, soaps, detergents, and biofuel production.
Founded on April 13, 2005, as PT JO Perkasa Agro Technologies and renamed in November 2010, the company is headquartered at Jalan Kudus No. 6, Menteng, Jakarta Pusat 10310, Indonesia, and listed on the Indonesia Stock Exchange in December 2012. PT Multi Agro Gemilang Plantation Tbk functions as a subsidiary of PT Santika Griya Persada and targets the agricultural products segment within the consumer staples sector, primarily serving domestic and international markets for palm oil derivatives.
In recent developments, the company held an extraordinary general meeting of shareholders on February 15, 2024, potentially addressing strategic matters amid ongoing operational challenges, including trading suspension noted in market updates. No major acquisitions, funding rounds, or new product launches have been publicly reported in the last 1-2 years; however, it maintains focus on core upstream activities in palm oil production across its Indonesian estates. The company employs approximately 220 staff and continues to manage its mature plantations for sustained FFB harvesting and processing.