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Created before Nov 2016
Last update: 2016-03-22 00:00:00
Karen Vermeer, BankTrack
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Kencana Group is an oil palm company, based in Singapore. The company was created in 1996 and listed on the Singapore Exchange on 25 July 2008, Kencana Agri Limited is a plantation company engaged mainly in the cultivation of oil palms, the processing of Fresh Fruit Bunches into Crude Palm Oil, Crude Palm Kernel Oil and Palm Kernel Cake, refining of CPO and provision of bulking, port and logistics services. The group's integrated palm oil complex in Balikpapan, East Kalimantan - comprising a palm oil refinery, bulking terminal and a deep sea port, is a joint venture with Louis Dreyfus Commodities. Kencana is also an important supplier to Wilmar.
A list of subsidiaries can be found in the annual report, on page 68.
36 Armenian Street #03-02 Singapore 179934
Henry Maknawi |
Kencana Agri, incorporated in Singapore and listed on the Singapore Stock Exchange has a market capitalization as of May 28 2013 of US$284 million and its top 5 shareholders are as follows:
Kencana Holdings: 53.15%
Wilmar Intl Ltd (through Newbloom): 20%
Kencana's subsidiaries PT Sawindo Cemerlang and PT Wiramas Permai have been accused of land grabbing in Central Sulawesi. Local villagers have protested over this and several have been arrested.
Walhi has documented Kencana Group's involvement in forest and mangrove swamp clearance in the region of Balikpapan, East Kalimantan through its subsidiary PT Dermaga Kencana Indonesia.
In a 2014 study, Greenomics found that both PT Sawindo Cemerlang and PT Sawit Tiara Nusa are clearing forests in Pohuwato Regency, located in Gorontalo, North Sulawesi. This dispite Wilmar's new No Deforestation poplicy. PT Wiramas Permai has been found to be illegaly logging in the Pati-Pati Natural Reserve.