JAKARTA (rambuenergy.com) – Plantation company PT Provident Agro Tbk (IDX:PALM), jointly owned by Saratoga Sentra Business and Provident Capital Indonesia, said its unit PT Langgam Inti Hibrindo’s environmental permit has been reactivated by the Forestry and Environment Ministry.
On Sept 21, 2015, the ministry revoked the company’s environment permit through a stipulation letter SK.390/Men-LHK-Setjen/2015 as a form of sanction, after evidences found the company was responsible for forest fire in the area.
“The Environment Permit of PT Langgam Inti Hibrindo has been reactivated in line with applicable regulations,” the ministry said, as cited by Provident Agro in its statement to the Indonesian Stock Exchange.
In late August the Riau Police declared PT Langgam Inti Hibrindo (LIH) as a suspect in forest fires in Langgam subdistrict, Pelalawan Regency as well as 27 individuals.
Provident Agro submitted a report to the exchange, signed by its Corporate Secretary Devin Antonio Ridwan.
Provident Agro controls 99.98 percent shares in Langgam Inti Hibdrindo. PT Saratoga Sentra Business and PT Provident Capital Indonesia hold 44.163 percent shares each of Provident Agro. In return, Saratoga Sentra Business is controlled 99.99 percent by Saratoga investama Sedaya Tbk (IDX:SRG). (*)