Joined in the league of successful North Sumatra businessmen that made fortune in palm oil industry, Martua Sitorus is a successful Pematang Siantar-origin palm oil company owner that has exported his products to countries such as India, United States, China, Malaysia and about fifty more countries. At the age of fifty four, he is still busy managing his corporation that works in various fields. His total wealth now is about $1.85 billion.
Martua Sitorus: from Zero to Hero
Born from a Chinese descendant family, Martua Sitorus has had resilience, business instinct and sense of achievement since he was young. After graduated from high school, he studied at University of HKBP Nomensen in Medan, selling fish and shrimps during his younger years to help his family economy and get extra money for his education. This experience shaped his business instinct, and it proved useful when he started making and expanding his business until he became one of Indonesia’s business tycoons.
The beginning of his successful business journey was in 1991, when he founded agribusiness Wilmar International with his Malaysian partner, Kuok Khoon Hong, who now has the position as chairman. The company started as trading company for palm oil, but it keeps expanding. In year 2003, Martua established the facility of fertilizer manufacturing, and expanded to Shanghai by building oleochemical plant. Now, the company deals with coconut oil mill, sugar business, and even refined vegetable oil. His partners are, among many, Unilever and Kellogg Company. His company is also responsible for Sania, one of the most popular cooking oil brands in Indonesia.
Now, Martua Sitorus has stepped down from his position of COO at Wilmar and resides in Singapore and concentrates in dealing with family business. Besides taking care of his stake at coal company Whitehaven in Australia, he also bought and manages Aviva Tower, a skyscraper building in London.