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Independent Verification Report To Show Smart As A Responsible Company – by PT SMART Tbk

Posted: Aug 09, 2010 2 minute read GAR 0 Likes

Jakarta, 9 August 2010 – The independent verification report (“IVEX”) that will be published tomorrow, 10 August 2010 will show PT SMART Tbk (“SMART”) as a responsible and vital player in the drive towards sustainable palm oil production.

“We have full confidence that the upcoming IVEX report will uncover the truth that SMART is a responsible company. We are sharing the report in full and it will speak for itself. Greenpeace has painted an incorrect picture of us. The report will show how we act with absolute responsibility and integrity in relation to developing and managing our extensive palm oil plantations,” said Daud Dharsono, President Director of SMART.

The IVEX report is jointly authored by Control Union Certification (“CUC”) and BSI Group (“BSI”), two of the world’s leading certification bodies. CUC and BSI were also assisted by leading experts from the Bogor Agricultural Institute.

“This report will be a turning point for all. The international reputation of CUC and BSI and the fact that this exercise was conducted in an independent, scientific and well-grounded manner cannot be disputed. The report will give us the facts which we look forward to sharing with all our stakeholders,” said Mr Dharsono.

“Palm oil is a strategic product for the growth and development of Indonesia and for the alleviation of poverty. We remain committed to working with all parties in finding solutions to achieving growth in the palm oil industry while doing this in a sustainable manner,” concluded Mr Dharsono.

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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