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Update on Korindo Group

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21 December 2016, Singapore – Musim Mas welcomes Korindo Group's announcement pertaining to the extension of its moratorium on new land development. Korindo Group's moratorium will now cover another two of the Group's subsidiaries, PT Papua Agro Lestari (PAL) and PT Gelora Mandiri Membangun (GMM), in addition to its earlier announcement in August 2016 to impose a similar moratorium on its other subsidiary, PT Tunas Sawaerma (TSE).
 
The moratorium will be implemented in the undeveloped concessions of PAL and GMM, totalling 40,500 ha. Both subsidiaries will undergo High Conservation Values (HCV) and High Carbon Stock (HCS) assessments before future Plantation development.
 
As one of the leading industry players championing the production of sustainable Palm Oil , Musim Mas holds itself to the most stringent sustainability standards, and we expect our suppliers to follow the same high standards. To that end, Musim Mas will continue to engage and support the Korindo Group in achieving sustainable development and operations, as part of our transformation initiative for our supply chain partners.

ENDS. 

For more information, please contact: 

Carolyn Lim
Corporate Communications
coms@musimmas.com
+65 6576 6500