Sri Lanka, Oct. 30 -- Carson Cumberbatch and Bukit Darah yesterday said several subsidiaries of their Singapore-based arm, Goodhope Asia Holdings Ltd, have been affected by Indonesia's latest land management regulations, which aim to repossess the forest-status lands from the private plantation companies.
The Indonesian government's newly formed Presidential Task Force has begun implementing the regulation, which so far has impacted about 587 companies in the palm oil plantation sector, covering nearly 1.5 million hectares across the country.
"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 ent...