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Malaysia Sedang Heboh Soal Dugaan Rencana Monopoli Sawit oleh Pengusaha Indonesia
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janggutbahaman
Malaysia Sedang Heboh Soal Dugaan Rencana Monopoli Sawit oleh Pengusaha Indonesia
Belakangan ini, beberapa teman saya di Malaysia yang peduli akan industri sawit mulai heboh. Pasalnya, saham perusahaan sawit terbesar di Malaysia Felda Global Ventures (FGV) dikabarkan akan segera dijual kepada pengusaha Indonesia. Kalau hal ini terjadi, dikhawatirkan akan terjadi upaya monopoli terhadap industri minyak sawit di dunia, dan hal ini bisa berdampak terhadap kestabilan harga minyak sawit serta nasib para peneroka atau para petani sawit di Malaysia maupun di Indonesia.
Kemudian, tadi pagi saya menemukan artikel tentang dokumen audit KPMG tentang rencana pembelian saham Eagle High Platantion milik Peter Sondakh pada 2005 yang berisiko tinggi tetapi tetap diabaikan dan transaksi terus dilangsungkan. Hal ini tentu saja semakin menimbulkan kecurigaan terhadap upaya-upaya transaksi bisnis yang tidak wajar, sehingga bisa menjadi skandal.
Berikut petikan berita yang saya kutip dari Sarawak Report:
Nah, adakah agan-agan di sini yang mengikuti isu terkait industri kelapa sawit ini? Apakah hal yang saya ungkapkan wajar atau memang ada hal yang mencurigakan?
Mohon pencerahannya!
Kemudian, tadi pagi saya menemukan artikel tentang dokumen audit KPMG tentang rencana pembelian saham Eagle High Platantion milik Peter Sondakh pada 2005 yang berisiko tinggi tetapi tetap diabaikan dan transaksi terus dilangsungkan. Hal ini tentu saja semakin menimbulkan kecurigaan terhadap upaya-upaya transaksi bisnis yang tidak wajar, sehingga bisa menjadi skandal.
Berikut petikan berita yang saya kutip dari Sarawak Report:
Quote:
Sarawak Report has been passed secret documents, including a 209 page due diligence report prepared by the global accountancy group KPMG, which warned Felda Global Ventures (FGV) of numerous risks involved in the purchase of a 37% share in the Indonesian palm oil plantation company Eagle High, controlled by an associate of Prime Minister Najib Razak, Peter Sondakh.
The report, dated 31st July 2015 and named ‘Project Sunshine’, details several concerns about the then proposed US$680 million investment, warning that not only was the deal grossly over-priced (70% higher than the shares were worth) at the expense of FELDA shareholders, but that there were enormous liabilities that could eventually costs those shareholders dear if they took on the responsibility of ownership.
A three page digest of that document, summarising the “Analysts’ mains concerns regarding the transaction” was then drawn up to brief Najib as the Minister of Finance in November 2015. FGV had sought to answer each concern as if it could be overcome.
Digest of KPMG’s concerns that was passed to Najib, together with rebuttals from FGV, which nevertheless eventually pulled out of the deal – only to be replaced by FELDA itself.
The documents detailed the danger points, including unpaid tax and potential massive liabilities over further tax avoidance by the company; the outrageous over-valuation on the deal (in comparison with the share price for the plantation) and also evidence that the company had hugely exaggerated the area of remaining land it had permission left to plant.
60%
Eagle High, explained KGMG analysts, would be unlikely to complete the process for getting planting permission for 260 thousand hectares, comprising 60% of its total landbank, where it only had temporary licences to apply to plant.
This was particularly so, because the palm oil business has rightly come under increased international and consumer pressure to halt further forest clearances. Indeed, a related problem in taking over such a large percentage of the Eagle High plantation business was that it could lose FELDA itself a large proportion of its international customers, given that Eagle High is not RSPO (Round Table on Sustainable Palm Oil) certified and has been cited over numerous compliance violations.
In short, the warning given by KPMG was that the purchase of this over-priced concern could contaminate the whole of the Malaysian farming cooperative’s wider business. KPMG listed the risks involved:
Risk factors identified by market observers:
– Sustainability risk – weak disclosure
– Deforestation – primary rainforests converted into oil palm plantations; clearing of secondary forests
– Encroachment on orangutan habitat
– Peatland development – the drainage of peatlands is a large driver of climate pollution, causing emissions of CO2
– Social conflicts – reports on destruction of customary land and reports about poor working conditions on the Papuan plantation operated by GEH
– The absence of clear sustainability policies could deter financing from international banks who may adopt stronger palm oil policies.
Nevertheless, when FGV subsequently pulled out of the deal on 23rd December 2016 FELDA itself moved in to take over the bid the very next day, thanks to a Malaysian Government borrowing guarantee, provided by Najib in his capacity as Minister of Finance.
Neither was Najib deterred by the fact that the FELDA entity used to invest in the plantation was none other than Felda Investment Corporation (FIC), which was specifically set up to invest in businesses that diversified from palm oil, making for a direct conflict with the core objectives of the fund.
lebih lanjut:
http://www.sarawakreport.org/2018/04...tation-expose/
https://janggutbahaman.com/laporan-k...peter-sondakh/
The report, dated 31st July 2015 and named ‘Project Sunshine’, details several concerns about the then proposed US$680 million investment, warning that not only was the deal grossly over-priced (70% higher than the shares were worth) at the expense of FELDA shareholders, but that there were enormous liabilities that could eventually costs those shareholders dear if they took on the responsibility of ownership.
A three page digest of that document, summarising the “Analysts’ mains concerns regarding the transaction” was then drawn up to brief Najib as the Minister of Finance in November 2015. FGV had sought to answer each concern as if it could be overcome.
Digest of KPMG’s concerns that was passed to Najib, together with rebuttals from FGV, which nevertheless eventually pulled out of the deal – only to be replaced by FELDA itself.
The documents detailed the danger points, including unpaid tax and potential massive liabilities over further tax avoidance by the company; the outrageous over-valuation on the deal (in comparison with the share price for the plantation) and also evidence that the company had hugely exaggerated the area of remaining land it had permission left to plant.
60%
Eagle High, explained KGMG analysts, would be unlikely to complete the process for getting planting permission for 260 thousand hectares, comprising 60% of its total landbank, where it only had temporary licences to apply to plant.
This was particularly so, because the palm oil business has rightly come under increased international and consumer pressure to halt further forest clearances. Indeed, a related problem in taking over such a large percentage of the Eagle High plantation business was that it could lose FELDA itself a large proportion of its international customers, given that Eagle High is not RSPO (Round Table on Sustainable Palm Oil) certified and has been cited over numerous compliance violations.
In short, the warning given by KPMG was that the purchase of this over-priced concern could contaminate the whole of the Malaysian farming cooperative’s wider business. KPMG listed the risks involved:
Risk factors identified by market observers:
– Sustainability risk – weak disclosure
– Deforestation – primary rainforests converted into oil palm plantations; clearing of secondary forests
– Encroachment on orangutan habitat
– Peatland development – the drainage of peatlands is a large driver of climate pollution, causing emissions of CO2
– Social conflicts – reports on destruction of customary land and reports about poor working conditions on the Papuan plantation operated by GEH
– The absence of clear sustainability policies could deter financing from international banks who may adopt stronger palm oil policies.
Nevertheless, when FGV subsequently pulled out of the deal on 23rd December 2016 FELDA itself moved in to take over the bid the very next day, thanks to a Malaysian Government borrowing guarantee, provided by Najib in his capacity as Minister of Finance.
Neither was Najib deterred by the fact that the FELDA entity used to invest in the plantation was none other than Felda Investment Corporation (FIC), which was specifically set up to invest in businesses that diversified from palm oil, making for a direct conflict with the core objectives of the fund.
lebih lanjut:
http://www.sarawakreport.org/2018/04...tation-expose/
https://janggutbahaman.com/laporan-k...peter-sondakh/
Nah, adakah agan-agan di sini yang mengikuti isu terkait industri kelapa sawit ini? Apakah hal yang saya ungkapkan wajar atau memang ada hal yang mencurigakan?
Mohon pencerahannya!
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