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Release of Independent Verification Exercise Report is Postponed – by PT SMART Tbk

Posted: Jul 24, 2010 1 minute read GAR 0 Likes

Jakarta, 24 July 2010 – PT SMART Tbk (“SMART”) announces that the release of the results of the Independent Verification Exercise will be postponed from the 29 July 2010 to 10 August 2010. The joint authors of the report, the certification bodies Control Union Certification (“CUC”) and BSI Group today informed SMART of this decision.

In a joint statement by CUC and BSI Group: “We are covering a vast area throughout Central and West Kalimantan. We are focused on delivering a thorough and well grounded report and it is with this emphasis in mind that we will require more time to finalise our report.”

In conjunction with the release of the Independent Verification Exercise Report on 10 August 2010, SMART will now hold its media briefings on 10 August 2010 in Jakarta and 11 August 2010 in London.

“We look forward to the release of the results and are eager to share the report in full with all stakeholders,” said Daud Dharsono, President Director of SMART.

For further information please contact:

For Indonesia:
Fajar Reksoprodjo Corporate Affairs
Tel       : (62 – 21) 318 1388
Fax      : (62 – 21) 318 1390
Cell      : (62 – 881) 123 9513
Email  : [email protected]


About PT SMART Tbk (“SMART”)

SMART is one of the largest, publicly-listed, integrated palm-based consumer companies in Indonesia which is committed to sustainable palm oil production.

Founded in 1962, SMART’s palm plantations have a total coverage area of approximately 135,000 hectares (including small holders). SMART also operates 15 mills, four kernel crushing plants and three refineries. SMART listed its shares on the Indonesia Stock Exchange in 1992.

SMART’s primary activities are cultivating and harvesting of palm trees, processing of fresh fruit bunches into crude palm oil (“CPO”) and palm kernel, and refining CPO into value-added products such as cooking oil, margarine and shortening.

Besides bulk and industrial oil, SMART’s refined products are also marketed under several brands such as Filma and Kunci Mas. Today, these brands have been recognised for their high quality and command significant market share in their respective segmentation in Indonesia.

SMART is a subsidiary of Golden Agri-Resources Ltd (“GAR”), one of the largest palm-based companies in the world which is listed on the Singapore Exchange. SMART also manages all oil palm plantations of GAR which has a total planted area of 430,200 hectares (including small holders) in Indonesia, as at 31 March 2010.

This relationship benefits SMART with its economies of scale in plantation management, information technology, research and development, sourcing of raw material, and access to a wide domestic and international marketing network.

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