Smart Tbk.

Brief of Company Background

The company began its business under the name of PT Maskapai Perkebunan Sumcama Padang Halaban in 1962. In 1970, the company was returned to the foreign party and converted its status to PMA. Further in 1985, the status of the company was converted to PMDN. The company then in 1991 changed its name to PT Sinar Mas Agro Resources and Technology Corporation or abbreviated PT SMART Corporation. In 1989, the company acquired 100% shares of 2 oil palm plantations; PT Maskapai Perkebunan Leidong West Indonesia and PT Perusahaan Perkebunan Panigoran. The company then also acquired 100% shares of PT Maskapai Perkebunan Indorub Sumber Daung, a 1,502 ha tea plantation which located in West Java. In 1991, the company took over 100% shares of PT Nirmala Agung, 19% shares of PT Global Agronusa Indonesia, merged with PT Mulyorejo Industrial company, and acquired 25% stake in PT Grahamas Indojaya, a transportation company. Prior to the public offering in 1992, the company took over 100% shares of PT Kunci Mas Wijaya, 49% shares of PT Inti Gerakmaju, and 49% shares of PT Tapian Nadenggan. The company then acquired 50% shares of PT Sinar Meadow International Indonesia, and 50% PT Sinar Pure Foods International. The company signed a joint venture agreement with Goodman Fielder Overseas Holding Pte. Ltd., through its sub-holding company, PT Smartindo Utama, in early 1995. In June 1997, SMART acquired 100% shares of 2 new undeveloped land banks in East Kalimantan, PT Sangatta Andalan Utama and PT Matrasawit Sarana Sejahtera. The company also engaged in a joint venture with Super Air from New Zealand in area manuring. In December 1997, the company divested its shares in PT Intersmart Corporation, a soft drink company. Early in 2002, the company sold two of its subsidiaries, PT Maskapai Perkebunan Indorub Sumber Wadung and PT Perkebunan dan Perindustrian Nirwala Agung to PT Sariwangi Agricultural Agency for US$ 87 million.

Shareholder List

Management