PALMOILMAGAZINE, JAKARTA – Palm oil and wood company PT Dharma Satya Nusantara Tbk (DSNG), via its subsidiary PT Agro Pratama, increased its ownership stake in PT REA Kaltim Plantations (REA Kaltim) to 35% through a share subscription agreement (SSA) signed on March 8, 2024.
The company initially invested in REA Kaltim shares, acquiring approximately 15%, on May 16, 2016, through its subsidiaries PT Swakarsa Sinarsentosa and PT Agro Pratama.
REA Kaltim operates in the palm oil industry, focusing on palm oil cultivation and the production of crude palm oil and palm kernel oil. Operating in East Kalimantan, REA Kaltim currently manages around 35 thousand hectares of land, with a mill capable of processing approximately 240 tons per hour and two methane gas capture mills.
Also Read: DSNG Records Impressive Income of Rp 6.6 Trillion in Third Quarter 2023
“By having 35 percent – share ownership in REA Kaltim, it is hoped that palm oil business in the company would be developing, particularly to escalate the profits of the company in the future. Besides, this would reinforce partnership and collaboration between both, including but it is not limited in agronomy only, but also in mill, replanting, and sustainable practices,” Chief Financial Officer, DSNG, Jenti Widjaja said, as in the official statement to Palmoilmagazine.com, Thursday (14/3/3024).
Jenti also told the increasing share ownership in REA Kaltim would positively deliver the good for both parties because the two operate sustainable palm oil industries in Indonesia.
In 2023, REA Holding and DSNG were in the 12th and 10th ranks of 100 procession and producer companies and other trade companies, including palm oil which were independently assessed by SPOTT (Sustainability Policy Transparency Toolkit) based on the openness in organization, policy, and implementation in environmental, social, and governance, (T2)
