Jakarta, hitclubapk3 Indonesia
—
Owner of PT
Toba Pulp Sustainable
Tbk is in the public spotlight in the midst of a disaster
flood
large and landslides on the Island
Sumatra
.
This company with the share code INRU denies being involved in causing the floods which have claimed 604 lives as of Monday (1/12).The rebuttal was conveyed via an official letter to the Indonesian Stock Exchange (BEI) on Monday (1/12).
“The company firmly denies accusations that operations are the cause of ecological disasters,” said Corporate Secretary Anwar Lawden, quoted on Tuesday (2/12).
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Anwar explained that the company’s operations are carried out in accordance with Standard Operating Procedures (SOP) which are documented and monitored periodically, in collaboration with certified independent institutions.
So, what are the facts and profile of Toba Pulp Lestari?
PT Toba Pulp Lestari was previously named PT Inti Indorayon Utama Tbk.This company was founded on April 26 1983 in North Sumatra by national businessman Sukanto Tanoto.
His business sector is producing paper pulp and rayon fiber from wood.On May 16 1990, the company conducted an initial public offering (IPO) on the IDX with the stock code INRU, which is still used today even though the company name changed.
This company’s business journey has been marked by many agrarian conflicts with the surrounding community.Accusations against the company include environmental pollution, the spread of skin diseases, massive deforestation, and unfair control of residents’ land.
In 1999, President BJ Habibie temporarily stopped factory operations and appointed an independent auditor to investigate alleged environmental damage, but the audit was never carried out.
President Abdurrahman Wahid then closed the factory operations again, although it finally opened in 2000 on condition that it stop producing rayon.In the same year, the company changed its name to Toba Pulp Lestari and its share ownership also changed.
Based on data from the IDX Information Disclosure, currently Toba Pulp Lestari is owned by an investment company from Hong Kong, Allied Hill Limited, which controls 92.54 percent of the shares.The remaining 7.46 percent of shares are owned by the public.
Allied Hill is a holding entity wholly owned by Joseph Oetomo’s Everpro Investments Limited.
Anwar Lawden explained that of the total area of 167,912 hectares, the company only developed around 46 thousand hectares of eucalyptus plants, while the rest was maintained as a protected and conservation area.
“All HTI (Industrial Plantation Forest) activities have gone through an assessment
High Conservation Value
(HCV) and
High Carbon Stock
(HCS) by a third party to ensure the implementation of Sustainable Forest Management principles,” he said.
The Ministry of Environment and Forestry (KLHK) audit in 2022-2023 stated that the company complied with all regulations without environmental or social violations.
“Regarding the allegations of deforestation, we emphasize that the Company carries out harvesting and replanting operations within the concession based on the spatial layout, General Work Plan (RKU), and Annual Work Plan (RKT) that have been determined by the government,” stressed Anwar.
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