Bumitama Agri may gain 21b rupiah from land compensation

Singapore

BUMITAMA Agri could potentially be compensated 400 billion rupiah (S$42 million) for 4,810 hectares of plantation land assets in Indonesia, to net a gain of 21 billion rupiah.

Back in 2012, the company was told that this land, belonging to its subsidiary PT Hatiprima Agro (HPA), had had its location permit revoked because the area had been redesignated as non-forestry area by the Indonesian Ministry of Forestry in 2011.