Thursday Jan 22, 2026
Thursday Jan 22, 2026
Thursday, 22 January 2026 03:34 - - {{hitsCtrl.values.hits}}
Carson Cumberbatch PLC and Bukit Darah PLC have issued their latest response to the Indonesian Government’s plans to nationalise its palm oil plantation.
The update is a follow up to the Announcement dated 28 October 2025 on the ‘Implementation of new laws in Indonesia for Palm Oil Plantations’ which, according to publicly available information, has currently affected approx. 4.1 million hectares of palm oil plantations across Indonesia.
In a filing to the Colombo Stock Exchange, the two companies said based on information received from their subsidiary, Goodhope Asia Holdings Ltd. (Goodhope). Goodhope has continued its engagement with the Presidential Task Force established by the Government of Indonesia and has attended meetings and provided information as requested. The Task Force has intimated to Goodhope a provisional administrative fine of approximately IDR 1,826 billion (equivalent to approximately $ 108.4 million) which has been communicated as a temporary notification and subject to future adjustment and finalisation following further review by the Task Force.
Goodhope has sought detailed clarification from the authorities regarding the basis and methodology underlying this provisional computation and is actively discussing the matter. It has adequate liquidity to manage the impact, if imposed.
The company further reiterates its continuing commitment to full compliance with applicable Indonesian laws and regulations and remains engaged in constructive dialogue with the relevant authorities to ensure regulatory adherence and operational continuity, and to safeguard the interests of all stakeholders.
