RSPO decision won't have material impact as 33 mills are certified — FGV

KUALA LUMPUR (Jan 17): FGV Holdings Bhd said the decision by the complaints panel (CP) of the Roundtable on Sustainable Palm Oil (RSPO) to re-suspend its Kompleks Serting and put on hold the ongoing new certification processes at 23 other complexes will not have any material impact on FGV and its subsidiaries.

This is because the group still has 33 mills which were certified earlier, it said in a Bursa filing today.

The group added that it will continue to work towards good practice and sustainability.

In a statement dated Jan 14, RSPO said its CP had suspended the principles and criteria certification processes for all uncertified units of FGV and re-imposed its suspension on FGV's Serting's oil palm mill for non-compliance of the panel's decision.

The group had issued a reply to the CP through a letter on Jan 15 which includes progress updates and outlines its action plans.

FGV also said it will be appealing the decision.

At 2.58pm, shares of FGV rose 2.11% or 3 sen to RM1.45 with some 4.02 million shares traded, valuing it at RM5.29 billion.

Read also:FGV to appeal suspension by RSPO complaints panel