JAKARTA - PT Agro Pratama (AP), a subsidiary of PT Dharma Satya Nusantara Tbk (DSNG), has increased its portion by 20% to 35% in PT REA Kaltim Plantations. The share subscription agreement between both parties was signed last week (8/3).

Jenti Widjaja, Chief Financial Officer (CFO) of DSNG, said the stock portion raise in REA Kaltim will further advance the company’s business growth. “It will also strengthen partnership and collaboration of both parties, not limited to agronomy, palm refinery, palm plantation rejuvenation, and sustainability practices,” she said in the press release quoted Thursday (14/3).

According to Widjaja, DSNG and REA Holding are both engaged in sustainable palm industry in Indonesia. DSNG and REA arrive at the 10th and 12th place out of 100 palm manufacturer and refiner independently evaluated by Sustainability Policy Transparency Toolkit (SPOTT) regarding its organisation transparency, policy, and environmental, social, and governance (ESG) implementation.

Prior to this, DSNG, through two of its subsidiaries, PT Swakarsa Sinarsentosa (SS) and AP, have secured 15% of REA Kaltim’s shares. The company owns land of 35,000 hectares (Ha) and Palm Refinery facility with a capacity of 240 ton per hour and two methane gas trapper plants. (LK/ZH)