SINGAPORE – Singapore Exchange Regulation (SGX RegCo) issued a fresh round of queries to Singapore-listed companies with agricultural operations and plantations in Indonesia, seeking clarity on whether they are linked to the Indonesian companies issued legal notices under Singapore’s haze law.
The additional queries follow an earlier round of questions sent to the companies last week, as the Singapore authorities step up scrutiny of businesses linked to the Indonesian fires that have caused transboundary haze.
In a statement on Oct 28, SGX RegCo said the latest queries were intended to help stakeholders better assess the basis of the companies’ earlier disclosures and the extent of the impact they face.
SGX Regco has asked companies to disclose the policies and measures put in place to monitor, prevent and respond to the fires, as well as the basis for assessing whether these measures are adequate and effective.
Companies must also disclose any links with the 10 companies that have received preventive measure notices under Singapore’s Transboundary Haze Pollution Act 2014, the market regulator said.
The National Environment Agency (NEA) on Oct 16 issued notices to seven Indonesian firms based in Sumatra, before issuing notices to three more firms in Kalimantan on Oct 19.
These companies are:
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Bumi Andalas Permai (pulpwood plantation)
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Bumi Mekar Hijau (pulpwood plantation)
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Paramitra Mulia Langgeng (pulpwood plantation)
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Sumatera Alam Anugerah (pulpwood plantation)
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Sebangun Bumi Andalas Wood Industries (pulpwood plantation)
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Hutan Lestari Raya (pulpwood plantation)
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Bangakanesia (pulpwood and oil palm plantation)
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Buana Megatama Jaya (pulpwood plantation)
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Mananjung Hayak (oil palm plantation)
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Baratama Putra Perkasa (pulpwood plantation)
SGX RegCo said it is also seeking the Singapore-listed companies’ boards’ assessments of whether the fires and haze have a material impact on their businesses, along with the reasons supporting those assessments.
In addition, the companies have been asked to disclose again whether they have received any queries or are facing investigations by authorities in Singapore, Indonesia or elsewhere.
The latest move follows SGX RegCo’s earlier queries to eight listed companies, including Golden Agri-Resources, Bumitama Agri, First Resources, Wilmar International, Kencana Agri, Indofood Agri Resources, Olam Group and TSH Resources.
All eight companies maintained that they did not use fire to clear land.
On Oct 23, NEA also issued separate notices to 10 Singapore-registered companies, seeking information on their Indonesian land concessions and fire prevention measures.
