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By: BankTrack
Created before Nov 2016
Last update: 2021-03-15 00:00:00

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TuK Indonesia


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Crude Palm Oil (CPO) Tanks of Sime Darby. Photo: Photo by CEphoto, Uwe Aranas / CC-BY-SA-3.0
Sector Agriculture for Palm Oil
Headquarters
Ownership
listed on Bursa Malaysia

Sime Darby Berhad, incorporated in Malaysia and listed on the Kuala Lumpur Stock Exchange (Bursa Malaysia) has a market capitalization of USD11.74 billion (June 2016). Sime Darby is controlled by the Malasian Government as its major shareholders are government controlled companies. The majority shareholder is Permodalan Nasional Berhad which ownes 50,40% of the shares (August 2016). Two other major shareholders are the Employees Provident Fund which ownes 9,86% of the shares and Kumpulan Wang Persaraan which ownes 5% of the shares (April 2017).

Subsidiaries
PT Mitra Austral Sejahtera - PT MAS – Indonesia
Website http://www.simedarby.com/

About Sime Darby

Sime Darby is a Malaysian multinational conglomerate that has operations in the plantations, property, healthcare, energy and utilities sectors. It was founded in 1910 by two British businessmen involved in the rubber industry, and later encompassed the oil palm and cocoa business as well.

Sime Darby Plantation is the plantation and agri-business arm of the Sime Darby Group. It is involved in oil palm and rubber plantation management cultivation and downstream activities, agribusiness and food, as well as Research & Development (R&D).

The merger of Sime Darby Berhad, Golden Hope Plantations Berhad and Kumpulan Guthrie Berhad (completed on 27 November 2007) established Sime Darby Plantation as the largest listed plantation company in the world. It produces about 2.44 million tonnes of Crude Palm Oil (CPO) or 4% of the world's annual output.

Sime Darby has been a member of the RSPO since 7 September 2004.

Latest developments

Press Conference at the RSPO

2016-11-08 00:00:00

Impacts

Social and human rights impacts

In Indonesia, Sime Darby is involed in a longstanding land grabbing conflict with the Indigenous communities of Kerunang-Entapang in the plantations of its subsidiary PT. MAS, in West Kalimantan. The communities have filed a complaint at the RSPO in 2012, which as of April 2017, is yet to be resolved.

NGOs raised serious concerns about the impact on forests and local communities of its operations in Liberia. Lack of consultation during initial agreement has resulted in continued tension between Sime Darby and local communities. Unresolved issues remain six years after community negotiations started. Full concession development would require negotiations with an additional 55 communities. This could entail decades of negotiations with uncertain outcomes, and could result in significant delays to project development.

Environmental and climate impacts

There has not been any recent public evidence of large-scale deforestation by Sime Darby in Asia, and Sime has made significant progress in achieving RSPO certification for its Southeast Asian operations. However, NGOs have raised serious concerns about the impact on forests and local communities of its operations in Liberia. The company has  signed a 63-year concession agreement in 2009 for 220,000 ha of land to be developed into oil palm and rubber plantations in Liberia. An additional 44,000 ha are to be developed under an outgrower scheme. To date, Sime Darby has planted 10,411 ha palm oil and 107 ha rubber under this agreement. Sime Darby’s undeveloped land bank in Liberia contains high-density forest; thus 45% cannot be developed responsibly.

Other impacts

Sime Darby led resistance to industry adoption of a "No Deforestation, No Peat, No Exploitation" policy. Instead, Sime Darby has led an initiative to create a so-called palm oil manifesto that would attempt to change the definition of what forests merit protection under palm oil industry forest conservation policies. It was only after significant pressure that Sime Darby announced in September 2014 an immediate moratorium on the clearance of high carbon stock (HCS) forests, whilst a study that aims to establish a threshold for defining what constitutes HCS forests was being carried out.

Governance

Applicable norms and standards

Roundtable on Sustainable Palm Oil (RSPO)

Updates

Press Conference at the RSPO

2016-11-08 00:00:00

At a press conference in Bangkok, during the yearly meeting of the RSPO, indigenous community leaders from the Kerunang-Entapang villages, West Kalimantan, urged Sime Darby to solve its open RSPO complaint. The communities complained that they have submitted a proposal for solution to Sime Darby in May 2015, to which Sime Darby has still not responded.

Financiers

Data from ForestsAndFinance.org identifies USD 1,103 million in finance raised by Sime Darby in the period 2010-2016, including USD 625 million in corporate loans, USD 155 million in revolving credit and USD 323 in bond issuances. Sime Darby has not issued any new shares between 2009 and 2016, but has issued new bonds several times. For a full list of financiers, see ForestsAndFinance.org.

 

 

News

| |
Type:
Year:
blog
external news
our news

Sime Darby Plantation commences legal proceedings against NGO Liberty Shared

2021-03-15 | The Edge Markets
blog
external news
our news

GREEN CATS 2020 UPDATE: SCORING PALM OIL AND SOY COMPANIES ON FOREST POLICIES AND TRANSPARENCY

2020-12-21 | Forest Heroes
blog
external news
our news

RSPO Must Respond to Complaints Against Sime Darby: Rights Group

2017-12-05 | Jakarta | JakartaGlobe
blog
external news
our news

New report: Towards responsible and inclusive financing of the palm oil sector

2017-11-15 | Center for International Forestry Research (CIFOR), Profundo
blog
external news
our news

Sime Darby company’s operations suspended due to illegal practices

2017-08-04 | Foresthints
blog
external news
our news
private

In Liberia, a battered palm oil industry adjusts to new rules

The industry expected to find green pastures in Liberia, but early missteps and new environmental restrictions have led to slow expansion.
2017-05-10 | Mongabay
blog
external news
our news

Swiss banks bankrolling illegal deforestation in Africa and East Asia

2017-03-24 | Illegal Deforestation Monitor
blog
external news
our news

NGO urges Sime Darby to solve land conflict before IPO

2017-01-30
blog
external news
our news

Press Release: Sime Darby Landgrabbing in Indonesia

2016-12-08 | TuK Indonesia
blog
external news
our news

Sime Darby Plantation Completes NBPOL Acquisition

2015-03-03 | Sime Darby
blog
external news
our news

Sime Darby Must Match New Britain Palm Oil’s Progress

2015-03-03 | Greenpeace Souteast Asia
blog
external news
our news

Malaysia's Sime Darby completes $1.74 bln New Britain Palm Oil buy

2015-03-03 | Reuters
blog
external news
our news

Deforestation, "development" connected to spread of Ebola in West Africa

2014-11-24 | Farm Landgrab
blog
external news
our news

Palm oil companies say they'll put forest destruction on hold. But what happens next?

2014-09-25 | Greenpeace
blog
external news
our news

Sime Darby Plantation Halts All Development while HCS Study is Conducted

2014-09-22 | Sime Darby
blog
external news
our news
private

Major Growers Commit to No HCS Development as HCS Study Starts in Earnest

2014-09-19 | KLK
blog
external news
our news

Institutional Investors Press Palm Oil Producers to Stop Cutting Down Rainforest

2014-09-08 | Green Century Funds
blog
external news
our news

Indonesia Lawmakers Draft Bill to Slash Foreign Ownership of Plantations

2014-08-15 | The Jakarta Globe
blog
external news
our news

Talk and log. The relativity of palm oil sustainability.

2014-07-14 | Greenpeace blog
blog
external news
our news

Palm Oil Industry Comes Together In Significant Sustainability Initiative

2014-07-08 | Sime Darby
blog
external news
our news

Liberia: Action against the expansion of oil palm plantations by Sime Darby and Golden Veroleum

2013-10-22 | World Rainforest Movement
blog
external news
our news

European Investments Assist Land Grabs for Palm Oil in Liberia

European funded palm oil expansion in Liberia linked to social and environmental damage
2013-06-24 | Brussels, Belgium / Monrovia, Liberia | Friends of the Earth Europe, Friends of the Earth Liberia
blog
external news
our news

Norway's wealth fund dumps 23 palm oil companies under new deforestation policy

2013-03-11 | Mongabay
blog
external news
our news

Liberian women impacted by expansion of Sime Darby’s oil palm plantations

2013-02-28 | World Rainforest Movement
blog
external news
our news

Liberian communities affected by oil palm land deals gather, release statement on expansion of Sime Darby and Golden Veroleum Plantations

2012-12-03 | Sustainable Development Institute
blog
external news
our news

Uncertain Futures. The impacts of Sime Darby on communities in Liberia

2012-08-20 | World Rainforest Movement
blog
external news
our news
private

Liberia land deals with foreign firms 'could sow seeds of conflict'

2012-02-29 | The Guardian
blog
external news
our news

IOI Corp responds to RSPO suspension

2011-04-07 | The Edge Malaysia

Documents

Type:
Year:
ngo documents
2017-06-13 00:00:00

Japanese and Malaysian banks and investors continue to pump billions of dollars into forest-risk companies, without adequate environmental and social safeguards

2017-06-13 00:00:00 | RAN, TuK Indonesia & Profundo
ngo documents
2016-11-01 00:00:00

Sime Darby: Liberian Crossroads

2016-11-01 00:00:00
ngo documents
2016-11-26 00:00:00

Factsheet: Sime Darby's landgrabbing in Indonesia

How Sime Darby’s landgrabbing overshadows its green image
2016-11-26 00:00:00 | TuK Indonesia
ngo documents
2017-01-31 00:00:00

Sime Darby urged to resolve long-standing land rights conflict before stock exchange listing of its plantation division

2017-01-31 00:00:00 | RAN, TuK & Profundo
ngo documents
2015-06-15 00:00:00

EU Investors, Land Grabs and Deforestation: Case-Studies

Briefing note
2015-06-15 00:00:00 | Fern
ngo documents
2014-09-23 00:00:00

The Green Tigers

Which Southeast Asian Companies Will Prosper in the New Age of Forest Conservation?
2014-09-23 00:00:00 | Forest Heroes
ngo documents
2014-08-19 00:00:00

Managing Environmental Impact

International Experience and Lessons in Risk Management for Overseas Investments
2014-08-19 00:00:00 | WRI
ngo documents
2014-07-14 00:00:00

YEARS of INVESTING DANGEROUSLY Dimensional Fund Advisors’ Ties to Palm Oil

2014-07-14 00:00:00
company documents
2014-07-08 00:00:00

Sustainable_Palm_Oil_Manifesto.pdf

2014-07-08 00:00:00
ngo documents
2014-06-13 00:00:00

Malaysian Overseas Foreign Direct Investment in oil palm land bank

2014-06-13 00:00:00 | AidEnvironment
annual reports
2014-01-01 00:00:00

Sustainability Report 2013

2014-01-01 00:00:00 | Sime Darby
annual reports
2014-01-01 00:00:00

Annual Report 2013

2014-01-01 00:00:00
ngo documents
2013-08-14 00:00:00

Oil palm plantations in Afrcia: past, present and future scenarios

2013-08-14 00:00:00 | Ricardo Carrere / World Rainforest Movement
ngo documents
2013-06-24 00:00:00

Sime Darby and land grabs in Liberia

Fact Sheet
2013-06-24 00:00:00 | FOE International
ngo documents
2013-06-18 00:00:00

The financing of Sime Darby by European financial institutions

2013-06-18 00:00:00 | Profundo for FoE Europe
ngo documents
2013-04-17 00:00:00

French banks financing land grabs

2013-04-17 00:00:00 | Friends of the Earth Europe
ngo documents
2013-02-01 00:00:00

SEEDS OF DESTRUCTION

2013-02-01 00:00:00 | The Rainforest Foundation
annual reports
2013-01-01 00:00:00

Annual Report 2013

2013-01-01 00:00:00 | Sime Darby
annual reports
2012-12-31 00:00:00

Annual Report 2012

2012-12-31 00:00:00 | Sime Darby
ngo documents
2012-12-01 00:00:00

Human rights-based analysisof the agricultural concessionagreements betweenSime DarbyandGolden Veroleumand theGovernment of Liberia

2012-12-01 00:00:00 | Forest Peoples Programme
other documents
2012-11-01 00:00:00

RSPO re-complaint against PT MAS

The first complaint was filed in 2007, but at the time the RSPO did not yet have a complaints mechanism
2012-11-01 00:00:00 | RSPO
ngo documents
2012-10-29 00:00:00

GREENPEACE SCORECARD ON PALM OIL PRODUCERS - Full Table of Company Responses

2012-10-29 00:00:00 | Greenpeace
ngo documents
2012-10-01 00:00:00

Scorecard on Palm Oil producers

2012-10-01 00:00:00 | Greenpeace
ngo documents
2012-09-14 00:00:00

Palm Oil's new frontier

How industrial expansion threatens Africa's rainforests
2012-09-14 00:00:00 | Greenpeace
ngo documents
2012-08-20 00:00:00

Uncertain Futures: The Impact of Sime Darby on communities in Liberia

2012-08-20 00:00:00 | World Rainforest Movement
ngo documents
2008-04-30 00:00:00

Burning up Borneo

How Unilever palm oil suppliers are Burning up Borneo
2008-04-30 00:00:00 | Greenpeace

Links

Sime Darby and Landgrabs in Liberia

http://www.foei.org/en/media/resources-for-journalists/sime-darby-and-landgrabs-in-liberia

Sime Darby CSR Website

http://www.simedarby.com/csr/Home.aspx

Sime Darby and the RSPO

http://www.rspo.org/en/member/29/sime-darby-plantation-sdn-bhd
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