From 15 to 17 December 2014, plantation company PT Golden Plantation is making an Initial Public Offering (IPO) on the Indonesian Stock Exchange (IDX), with the aim of raising around IDR 230 billion (USD 15.2 million). The company is currently a full subsidiary of the Indonesian-listed food company PT Tiga Pilar Sejahtera Food Tbk (TPSF), …
EDITOR’S NOTE 22 March 2016: Since this edition of The Chain was published, Chain Reaction Research and other analysts revised their numbers due to newly identified methodological issues. The 96% figure was always a best guess estimate derived from publicly available figures combined with private industry communication of proprietary data. However, among key issues that were identified …
Analysis of palm oil grower BW Plantation shows significant risks On November 24th, the shareholders of the Indonesian oil palm plantation company PT BW Plantation Tbk. will be asked to agree to a new rights issuance to finance the take-over of Green Eagle Holdings.
75% of world’s palm oil now covered by deforestation-free policies Three quarters of the world’s traded palm oil is now covered by zero-deforestation sourcing requirements, following a sustainable palm oil policy announced today by edible oil giant IOI Loders Croklaan.
Bunge announces forest conservation policy On Monday, agribusiness giant Bunge (BG: US) announced a new policy to end deforestation in its palm oil supply chain. Bunge’s commitment joins similar policies from traders Wilmar International, Golden Agri-Resources and Cargill, but it is set to have an outsized impact: the company is one of the largest buyers …
SINGAPORE — A new risk analysis released today by Chain Reaction Research (CRR) finds that deforestation and other sustainability issues pose major financial risks to palm oil giant Bumitama Agri. If the issues are not resolved, they could dramatically affect Bumitama’s access to its primary customers as well as global capital markets. However, the company …
Indonesian government cracks down on corruption and deforestation The Indonesian government has shown some signs of cracking down on corruption and illegal forest clearing in the country’s palm oil industry. The Corruption Eradication Commission recently arrested Riau Governor Annas Maamun, who was allegedly caught accepting bribes from a palm oil company. He is scheduled to …
Five large palm oil producers announce HCS moratorium, but questions remain Five major palm oil producers – Sime Darby (SIME:MK), Asian Agri, IOI Corporation (IOI:MK), Kuala Lumpur Kepong (KLK:MK), and Musim Mas, – announced today that they would institute a moratorium on clearance of high carbon stock areas while a yearlong industry–sponsored study of what …
Indonesian parliament floats bill to restrict foreign firms; Jokowi on haze The Indonesian parliament introduced a new draft bill to restrict the percentage of foreign-owned plantations to no more than 30% (down from the current 95%).
New Singapore Haze Law: On August 5th, the Singaporean parliament approved the Transboundary Haze Pollution Bill, in order to fight haze from deforestation in the region.