Indonesian Fires Affect Small Areas of Wilmar International's Concessions

MT Newswires10-19 10:37

Wilmar International (SGX:F34) said the fires affected small areas within some of its Indonesian concessions, but were extinguished quickly, according to a Friday filing to the Singapore stock exchange.

Field verification indicated that the fires originated outside its concessions or on community-farmed land before spreading into areas under its management, the agri-food company said.

The agribusiness group said it maintains a strict 'No Burning Policy' across its operations and suppliers, prohibiting fire for land clearing and preparation. Wilmar has not undertaken new oil palm planting in its Indonesian-owned plantations since 2013, the statement said.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment