Sime Darby Plantation Acquires Land in Kalimantan



Kuala Lumpur, 24 Nov 2017- Sime Darby Plantation Berhad (SDP) would like to confirm a recent announcement that Mulligan International B.V (MIB), a wholly- owned subsidiary of the company, has on 24 November 2017, completed the acquisition of 90% equity interest in PT Tamiyang Sumber Rezeki (PT TSR) for a total cash consideration of IDR77.5 billion (equivalent to approximately RM23.6 million). Following the acquisition, PT TSR has become a 90%-owned subsidiary of Sime Darby Plantation.

PT TSR was incorporated in Indonesia in 2011 and has been granted with the Hak Izin Lokasi and the Izin Usaha Perkebunan on 20,000 hectares of land in Kabupaten Barito Timur, Kalimantan Tengah, Indonesia.

Plans are underway to develop the land and as part of its commitment in ensuring a balanced and sustainable development of its agricultural business wherever it operates, SDP has undertaken an internal High Carbon Stock Assessment (HCSA) which will be supplemented with RSPO’s New Planting Procedure(NPP) and a third- party external assessment prior to any planting.

SDP will also obtain Free, Prior and Informed Consent (FPIC) from the local communities prior to any development.

Sime Darby Plantation is strongly committed to sustainable development and this is manifested by the way it runs its business. As one of the founding members of the Roundtable on Sustainable Palm Oil (RSPO), Sime Darby Plantation has adopted best practices from the industry into its daily operations, and throughout the entire supply chain.
 
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