A man who was born in 1922 could be driving this year’s hottest stock. Golden Agri Resources is up 33% year to date, making it one of the Singapore Exchange’s top performers.
The company’s late founder, Era Tipta Widjaya, had at least 40 children. But, Widjaya, who died in 2019, planted many more seeds. His holding company was the Sinar Mas Group, a sprawling empire with interests in plantations, paper and finance.
He was the man behind Golden Agri’s 578,000 palm oil land bank. The company’s plantations are eight times the land mass of Singapore.