Bumitama Agri is the Singaporean subsidiary of parent company Bumitama Gunajaya Agro. Bumitama is an Indonesian oil palm plantation company which cultivates oil palm trees and produces crude palm oil (CPO). It was established in 1996 by the Harita Group with its first acquisition of land in Central Kalimantan. Bumitama owns over 190,000 hectares and has planted 140,000 hectares of oil palm trees, primarily in Central and West Kalimantan. Bumitama owns six CPO mills (five in Kalimantan and one in Riau), which produce more than 450,000 tons of CPO a year. Primary purchasers of their CPO include Wilmar International, the Sinar Mas Group and Musim Mas. In April 2012, Bumitama Agri presented an IPO on the Singapore Stock Exchange at a price of $0.745 per share.