Arjuna Utama Sawit (ARJ) – Arjuna Utama Sawit (ARJ) (July 2022)
|July 2022||Mighty Earth RRR 40 highlighted 2 (two) deforestation alerts:
Mighty Earth allegedly link the above companies with PT Arjuna Utama Sawit (PT ARJ) as they share the same shareholders.
|September 2022||We have engaged PT ARJ related to this report. PT ARJ clarified that they do not have management control over Premier Palmoil Energy (PPE). However, PT ARJ will reach out to PPE on the allegation relating to First Borneo Group as mentioned on the NGO’s report.|
|December 2022||PT ARJ updated us that they are in the process of transfering their shares that are owned by Premier Palmoil Energy Pte LTD (Holding of PT ARJ) to an unrelated third party. The release of the share signifies that there will be no connection between PT ARJ and the alleged deforesting companies; PT Khatulistiwa Agro Abadi and PT Borneo International Anugerah.
PT ARJ official statement can be accessed here.
We will monitor the transfer process closely.
|August 2023||Due to no satisfactory response from PT ARJ on the shares transfer, we will not continue the commercial relationship with PT ARJ with effect from end of August 2023.|