Carson Cumberbatch PLC and Bukit Darah PLC have announced that their subsidiary, Goodhope Asia Holdings Ltd, has been affected by new Indonesian laws governing spatial planning and forest area management for palm oil plantations.
According to the companies’ disclosure to the Colombo Stock Exchange, the Indonesian Government recently introduced regulations establishing a Presidential Task Force to repossess lands classified under forest status. As of October 7, 2025, these regulations have reportedly impacted 587 companies across Indonesia, covering about 1.5 million hectares.
Goodhope Asia Holdings has indicated that approximately 5,877 hectares of planted area and 6,275 hectares of unplanted area belonging to five of its subsidiaries are affected. The repossessed lands have been transferred to PT Agrinas Palma Nusantara (PT ASN), a newly established state-owned enterprise now in discussions with Goodhope’s group companies on potential management arrangements.
The companies confirmed that plantation activities in the affected areas are continuing and that no penalties or payment demands have been issued under the new regulations. As such, the potential financial impact, if any, cannot yet be determined.
Goodhope Asia Holdings reaffirmed its commitment to complying fully with Indonesian regulations and maintaining engagement with authorities to safeguard operational continuity and stakeholder interests.
Carson Cumberbatch and Bukit Darah stated that they will continue to update the Colombo Stock Exchange on any material developments.
