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.


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