PT. Sinar Mas Agro Resources and Technology (PT. Smart Tbk)

ruit bunches into crude palm oil ("CPO") and palm kernel, and refining CPO into value-added products such as cooking oil, margarine and shortening. Besides bulk and industrial oil, SMART's refined products are also marketed under several brands such as Filma and Kunci Mas. Today, these brands have been recognised for their high quality and command significant market share in their respective segment in Indonesia. SMART is a subsidiary of Golden Agri-Resources Ltd ("GAR"), which is one of the largest palm-based companies in the world which is listed on the Singapore Exchange. SMART also manages all of GAR's oil palm plantations, which has a total planted area of 455,800 hectares (including small holders) in Indonesia, as at 31 March 2012. This relationship benefits SMART with its economies of scale in plantation management, information technology, research and development, sourcing of raw material, and access to a wide domestic and international marketing network.