📈 Carson Group Faces US$ 108.4 Mn Fine Amid Indonesia Palm Oil Crackdown

Sri Lankan conglomerates Carson Cumberbatch PLC and Bukit Darah PLC have issued a market update regarding a significant regulatory move by the Indonesian Government impacting their palm oil interests. • Provisional Fine: A subsidiary, Goodhope Asia Holdings Ltd., has been notified of a provisional administrative fine of approx. IDR 1,826 billion (approx. US$ 108.4 million). • Impacted Land: The fine follows new Indonesian laws that have affected roughly 4.1 million hectares of plantations nationwide. For the Group, this specifically involves the reclassification of 12,152 hectares as forest land. • Current Status: The fine is a "temporary notification" subject to finalisation. Goodhope is seeking clarification on the computation methodology and remains in constructive dialogue with the Indonesian Presidential Task Force. • Financial Position: The Group stated it maintains adequate liquidity to manage the financial impact if the fine is formally imposed. The situation is part of a broader nationalization and regulatory enforcement campaign in Indonesia, the world's top palm oil producer, which has repossessed lands from over 580 companies to date. Operational continuity is currently maintained through discussions with the state-owned enterprise PT Agrinas Palma Nusantara.