Kencana Agri Faces Inquiries Over Fires Causing $544,000 in Damages
MT Newswires11-02
Kencana Agri (SGX:BNE) is facing an ongoing Indonesian police inquiry and a document request from Singapore's National Environment Agency regarding fires that caused an estimated $544,000 in damages across 62 hectares of its Indonesian concessions.
The palm oil producer, which must submit documents to the NEA by Monday, Nov. 2, denied starting the blazes and expects no material impact on its operations or financial position, according to a Friday filing with the Singapore Exchange.
In a separate Sunday filing, Kencana said it will voluntarily hire Singapore government assessors to determine if the group holds any connection to the fires contributing to recent transboundary haze.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
