Golden Agri-Resources Ltd ("GAR") is the world's second largest palm oil plantation company with a total planted area of 463,400 hectares (including smallholders) as at 31 December 2012, located in Indonesia. It has integrated operations focused on the production of palm-based edible oil and fat. Founded in 1996, GAR is listed on the Singapore Exchange since 1999 with a market capitalisation of US$6.6 billion as at 27 February 2013. Flambo International Ltd, an investment company, is GAR's largest shareholder, with a 49.95% stake. GAR has several subsidiaries, including PT SMART Tbk which is listed on the Indonesia Stock Exchange since 1992. GAR is focused on sustainable palm oil production. In Indonesia, its primary activities include cultivating and harvesting of oil palm trees; processing of fresh fruit bunch into crude palm oil ("CPO") and palm kernel; and refining CPO into value-added products such as cooking oil, margarine and shortening. It also has integrated operations in China including a deep-sea port, oilseeds crushing plants, production capabilities for refined edible oil products as well as other food products such as noodles.