Press Releases

Singapore, 19 January 2012 – PT Ivo Mas Tunggal (IMT), a subsidiary of Golden Agri- Resources (GAR) announces today that it has received Roundtable on Sustainable Palm Oil (RSPO) certification for two of its subsidiaries PT Ramajaya Pramukti (RJP) and PT Buana Wiralestari Mas (BWL).

The certification covers 18,762 hectares (ha) of plantations and three mills from RJP and BWL in Kampar District, Riau Province and is part of the ongoing certification of IMT and another of GAR’s subsidiary, PT SMART Tbk (SMART). To date, 33,716 ha of plantations and four mills from both IMT and SMART have received RSPO certification. This brings GAR closer to its overall target of obtaining RSPO certification for all its palm oil operations by December 2015.

Daud Dharsono, President Director of IMT said: “RSPO certification is one of the important parts of our commitment to the production of sustainable palm oil. We are glad to be making progress and remain committed to working towards RSPO certification for the remaining palm oil operations by December 2015.”

GAR has engaged international NGO, The Forest Trust (TFT) to help the company prepare for RSPO certification for the rest of its existing 433,200 ha of palm oil plantations and 42 mills (as at June 2010) by December 2015. This includes about 89,000 ha of plasma scheme plantations involving about 45,000 smallholders. The palm oil operations established beyond 30 June 2010 will be part of a separate time-bound plan.

GAR is committed to complying with the national laws and regulations in Indonesia and the RSPO Principles and Criteria, and will continue to engage multi-stakeholders to find solutions for the production of sustainable palm oil. As part of its holistic approach to sustainability, GAR together with TFT has launched its Forest Conservation Policy and Social and Community Engagement Policy, and is in the process of developing its Yield Improvement Policy.

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About Golden Agri-Resources Ltd (“GAR”)
GAR is the world’s second largest palm oil plantation company with a total planted area of 448,900 hectares (including smallholders) as at 30 September 2011, located in Indonesia. It has integrated operations focused on the production of palm-based edible oil and fat.

Founded in 1996, GAR is listed on the Singapore Exchange since 1999 with a market capitalisation of US$5.8 billion as at 30 September 2011. Flambo International Ltd, an investment company, is GAR’s largest shareholder, with a 50% stake. GAR has several subsidiaries, including PT SMART Tbk which is listed on the Indonesia Stock Exchange since 1992.

GAR is focused on sustainable palm oil production. In Indonesia, its primary activities include cultivating and harvesting of oil palm trees; processing of fresh fruit bunch into crude palm oil (“CPO”) and palm kernel; and refining CPO into value-added products such as cooking oil, margarine and shortening. It also has integrated operations in China including a deep-sea port, oilseeds crushing plants, production capabilities for refined edible oil products as well as other food products such as noodles.

For further information please contact: Indonesia/ Singapore:

Claire Yong / Ang Shih-Huei
Pelham Bell Pottinger Asia
Tel: (65) 6333 3449
Fax: (65) 6333 3446
Cell: (65) 9185 0761 / (65) 9189 1039
Email: [email protected] / [email protected]