Thursday Oct 30, 2025
Thursday Oct 30, 2025
Thursday, 30 October 2025 06:01 - - {{hitsCtrl.values.hits}}
Carson Cumberbatch PLC and Bukit Darah PLC have said subsidiaries under their Singapore-based arm, Goodhope Asia Holdings Ltd., have been affected by Indonesia’s new regulations on forest area management, with around 12,000 hectares of plantation land, both planted and unplanted, reclassified and transferred to a State-owned enterprise.
The companies said discussions are underway with authorities to determine future management arrangements, and no penalties have been imposed so far.
Issuing a joint statement, the companies said: “Changes relating to spatial planning and forest area management laws in the recent past have introduced additional requirements for plantation companies in Indonesia.
In compliance, relevant plantation companies of Goodhope Asia Holdings Ltd., a subsidiary of Carson Cumberbatch PLC and Bukit Darah PLC, have submitted necessary applications to the relevant authorities.
However, during the year, the Government of Indonesia introduced further new regulations establishing a Presidential Task Force for the repossession of lands categorised as forest status. As per publicly available data as of 7 October 2025, the new regulations have affected 587 companies in the Palm Oil Plantation Sector, covering approximately 1.5 million hectares in Indonesia.
Based on these new regulations, approximately 5,877 hectares of planted area and 6,275 hectares of unplanted area pertaining to five subsidiaries of Goodhope Asia Holdings Ltd., are impacted.
The Task Force has subsequently transferred the repossessed lands to a newly established State-owned enterprise, PT Agrinas Palma Nusantara (PT ASN). PT ASN is presently engaged in discussions with the Group Companies of Goodhope Asia Holdings Ltd., regarding potential arrangements for the management of the plantations on these lands.
At present, there are no prohibitions on plantation activities within these areas. As of the date of this disclosure, Goodhope Asia Holdings Ltd., has informed Carson Cumberbatch PLC and Bukit Darah PLC that it has not received any notification or demand for payment of any penalties from the relevant authorities under these new regulations.
Accordingly, Goodhope Asia Holdings Ltd., is not in a position, at this stage, to determine or reasonably estimate the potential financial impact due to any possible penalties.
Goodhope Asia Holdings Ltd., has further confirmed its continued commitment to full compliance with prevailing Indonesian regulations and remains engaged constructively with the relevant authorities to ensure operational continuity and safeguard the interests of all stakeholders. Carson Cumberbatch PLC and Bukit Darah PLC will keep the Exchange apprised of any material developments.”
