ECONOMYNEXT – Sri Lana’s Carsons Cumberbatch Plc, which owns Indonesian oil palm plantations, said a new laws to protect forests had hit 12,152 hectares of land connected to group companies.
“Changes relating to spatial planning and forest area management laws in the recent past have introduced additional requirements for plantation companies in Indonesia,” Carsons said in a stock exchange filing.
“In compliance, relevant plantation companies of Goodhope Asia Holdings Ltd, a subsidiary of Carson Cumberbatch PLC and Bukit Darah PLC have submitted necessary applications to the relevant authorities.
“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.”
A government task force has repossessed lands and transferred them to PT Agrinas Palma Nusantara, a state enterprise.
“PT ASN is presently engaged in discussions with the Group Companies of Goodhope Asia Holdings Ltd regarding potential arrangements for the management of the plantations on these lands,” the firm said.
“At present, there are no prohibitions on plantation activities within these areas.”
Carsons Cumberbatch, Bukit Darah are among several Malaysian plantation firms that date back to the British era that originally grew rubber.
Under the present owners of Carsons grew oil palm and expanded into Indonesia.
Before macro-economists started to create forex shortages in Sri Lanka from February 1952 after setting up of a central bank with money printing powers, British planters raised capital in what is now called the Colombo Stock Exchange.
At the time Sri Lanka had a currency board arrangement with fixed exchange rate and no policy rate to boost ‘growth’ with rate cuts and trigger economic crises and could easily serve as a financial centre.
Goodhope Asia is incorporated in Singapore, a country which does not have a policy rate and macro-economists cannot create currency crises and is a key financial centre in Asia. (Colombo/Oct30/2025)
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