Sime Darby has contingency plan prepared for Indonesian cap on foreign ownership

Oil palm fruit (Photo: LifeMosaic)

Sime Darby Bhd, which expects the price of crude palm oil (CPO) to hover between RM1,900 and RM2,200 a tonne in the remaining months of the year, has a contingency plan ready for a possible change in legislation on foreign ownership of plantation land in Indonesia.

If the bill is passed, president and group chief executive Tan Sri Mohd Bakke Salleh (pix) said, the group will have to comply with it. News of a possible new reduced limit to foreign ownership of plantations in Indonesia to 30% from 95% broke in mid-August. (...)

The group's Indonesian plantation currently makes up about 40% of its total plantation size.

Read this article in full in The Sun Daily.


Related Project:

Oil Palm

LifeMosaic, in partnership with Friends of the Earth and Sawit Watch, coordinated a project aimed at bringing critical information about the impacts of oil palm to communities in plantation expansion areas, enabling them to make informed decisions about their lands and their futures.


Recent stories

35,000 Ugandans left homeless as private firms share Kiryandongo land

2nd Mar 2020
The government says the contentious territory was empty space and unoccupied public land but residents claim they hold it under customary ownership. (Source: Daily Monitor)


Hiring a Fundraising and Finance Coordinator

18th Dec 2019
This is an exciting and varied role with opportunity for development. This post aims to unlock organisational growth, particularly to sustainably expand the organisation to meet the increasing demand that we are experiencing from indigenous partners and movements.


LifeMosaic is a Not for Profit Company Limited by Guarantee (Registered company number: SC300597) and a Charity Registered in Scotland (Scottish Charity number: SC040573)