Name Martua Sitorus Parents Murni Teguh | Ethnicity Chinese Spouse Rosa Taniasuri Ong Nationality Indonesian Role Businessman | |
Born 1960 Pematang Siantar, Sumatera Utara Siblings Bertha Sitorus, Mutiara Sitorus, Ganda Sitorus, Dan Thio Ida Similar People Peter Sondakh, Kuok Khoon Hong, Robert Kuok Profiles | ||
Net worth 1.48 billion USD (2015) Education HKBP Nommensen University | ||
Martua Sitorus (born 1960), also known as Thio Seng Hap (吴笙福), is a Chinese Indonesian businessman. He was once known as the fourth richest person in Indonesia (and #377 in the world), but had decreased to fifteenth by November 2013, according to Forbes. He and his partner, Kuok Khoon Hong founded Wilmar International, the largest palm oil producer in the world.
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Wilmar's business activities include oil palm cultivation, oilseeds crushing, edible oils refining, sugar milling and refining, specialty fats, oleochemicals, biodiesel and fertilizers manufacturing and grains processing. It has over 300 manufacturing plants and an extensive distribution network covering China, India, Indonesia, United States and some 50 other countries.
Personal life
Martua was born in Pematang Siantar, a town located in North Sumatra, Indonesia. After finishing high school, he continued to the University of HKBP Nomensen, Medan which was the largest city in North Sumatera to finish his economic degrees. During his teenager, Martua traded fish, when grown up he started his business as a palm oil and mesocarp trader.
Career
Martua along with Kuok Khoon Hong, the nephew of Malaysia's richest tycoon Robert Kuok, founded Wilmar International Limited and by 1991 he owned 7.100 hectare of palm tree plantations, and also build his own palm oil refinery in North Sumatra. The Wilmar International business has grown rapidly; by 2013 Wilmar owns more than 50 other companies with 300 manufacturing plants around the world. Martua also owns London skycraper Aviva Tower and a hospital in Medan, Murni Teguh Memorial Hospital, which is named after Martua's mother, Murni Teguh. The hospital was launched on 12 December 2012 (12/12/2012).
In 2014, Sitorus formed a partnership with Roys Poyiadjis to create the largest biofuel power plant in Japan. The plant’s 20 year feed-in tariff is valued at $1.5 billion US dollars.