German Banks and Palm Oil and Pulp & Paper in Indonesia
Total Page:16
File Type:pdf, Size:1020Kb
German banks and palm oil and pulp & paper in Indonesia A research paper prepared for WWF International December 2001 Jan Willem van Gelder Profundo De Bloemen 24 1902 GV Castricum The Netherlands Tel: +31-251-658385 Fax: +31-251-658386 E-mail: [email protected] Contents Summary ..................................................................................................................i Introduction................................................................................................................1 Chapter 1 Influence assessment of financial institutions....................................2 1.1 The financing of companies....................................................................................2 1.2 Private financial institutions ...................................................................................3 1.3 Public financial institutions.....................................................................................5 1.4 Categories of financial services .............................................................................5 1.4.1 Services related to acquiring equity ...............................................................5 1.4.2 Services related to acquiring debt ..................................................................6 1.4.3 Other financial services ..................................................................................7 1.5 Assessing the influence of financial institutions..................................................9 1.5.1 The present role of financial institutions .........................................................9 1.5.2 Directness of the financial service................................................................10 1.5.3 Currency of the financial relation..................................................................10 1.5.4 Financial importance of the service..............................................................10 1.5.5 Influence assessment...................................................................................11 Chapter 2 Overview of the Indonesian oil palm sector ......................................13 2.1 The oil palm production chain ..............................................................................13 2.1.1 Oil palm plantations......................................................................................13 2.1.2 CPO mills .....................................................................................................14 2.1.3 Crushing plants ............................................................................................14 2.1.4 Refineries .....................................................................................................15 2.1.5 Final processing industries...........................................................................15 2.2 The expansion of the Indonesian oil palm sector ...............................................16 2.3 The financing of the Indonesian oil palm expansion..........................................17 2.4 The slackening of the Indonesian oil palm expansion .......................................18 Chapter 3 Indonesian palm oil companies ..........................................................24 3.1 Anglo-Eastern Group .............................................................................................24 3.1.1 Description of the Anglo-Eastern Group.......................................................24 3.1.2 Oil palm holdings of the Anglo-Eastern Group .............................................24 3.1.3 Financial stakeholders Anglo-Eastern Plantations Plc. ................................24 3.2 Astra Group ............................................................................................................26 3.2.1 Description of the Astra Group .....................................................................26 3.2.2 Oil palm holdings of the Astra Group ...........................................................26 3.2.3 Financial stakeholders PT Astra Agro Lestari Tbk. ......................................28 3.2.4 Financial stakeholders PT Sumalindo Lestari Jaya Tbk...............................29 3.2.5 Financial stakeholders PT Astra International Tbk.......................................30 3.3 Bakrie Group...........................................................................................................32 3.3.1 Description of the Bakrie Group ...................................................................32 3.3.2 Oil palm holdings of the Bakrie Group..........................................................32 3.3.3 Financial stakeholders PT Bakrie Sumatera Plantations Tbk. .....................33 3.3.4 Financial stakeholders PT Bakrie & Brothers Tbk........................................34 3.4 Barito Pacific Group...............................................................................................37 3.4.1 Description of the Barito Pacific Group ........................................................37 3.4.2 Oil palm holdings of the Barito Pacific Group...............................................37 3.4.3 Financial stakeholders Barito Pacific Timber Tbk. .......................................38 3.5 Incasi Raya and Metro Groups..............................................................................40 3.5.1 Description of the Incasi Raya and Metro Groups........................................40 3.5.2 Oil palm holdings of the Incasi Raya and Metro Groups ..............................40 3.5.3 Financial stakeholders PT Incasi Raya ........................................................41 3.6 Johor Group............................................................................................................43 3.6.1 Description of the Johor Group ....................................................................43 3.6.2 Oil palm holdings of the Johor Group...........................................................43 3.6.3 Financial stakeholders Kulim (Malaysia) Berhad .........................................44 3.7 LonSum, Napan and Risjadson Groups...............................................................46 3.7.1 Description of the LonSum, Napan and Risjadson Groups..........................46 3.7.2 Oil palm holdings of the LonSum, Napan and Risjadson Groups ................46 3.7.3 Financial stakeholders PT PP London Sumatra Indonesia Tbk. ..................48 3.7.4 Financial stakeholders PT Pan London Sumatra Plantation ........................50 3.7.5 Financial stakeholders PT Nawa Panduta ...................................................51 3.8 Lyman Group ..........................................................................................................53 3.8.1 Description of the Lyman Group...................................................................53 3.8.2 Oil palm holdings of the Lyman Group .........................................................53 3.8.3 Financial stakeholders PT Kalimantan Sanggar Pusaka .............................53 3.9 Oriental Group ........................................................................................................55 3.9.1 Description of the Oriental Group.................................................................55 3.9.2 Oil palm holdings of the Oriental Group .......................................................55 3.9.3 Financial Stakeholders PT Gunung Maras Lestari.......................................55 3.9.4 Financial Stakeholders Oriental Holdings Berhad........................................56 3.10 Raja Garuda Mas Group ........................................................................................57 3.10.1 Description of the Raja Garuda Mas Group .................................................57 3.10.2 Oil palm holdings of the Raja Garuda Mas Group........................................57 3.10.3 Financial stakeholders PT Asianagro Lestari ...............................................59 3.10.4 Financial stakeholders PT Inti Indosawit Subur ...........................................59 3.10.5 Financial stakeholders PT Kalimantan Sanggar Pusaka .............................59 3.11 Rowe Evans Group ................................................................................................61 3.11.1 Description of the Rowe Evans Group .........................................................61 3.11.2 Oil palm holdings of the Rowe Evans Group................................................61 3.11.3 Financial stakeholders Rowe Evans Investments Plc. .................................61 3.12 Sinar Mas Group.....................................................................................................63 3.12.1 Description of the Sinar Mas Group .............................................................63 3.12.2 Oil palm holdings of the Sinar Mas Group....................................................63 3.12.3 Financial stakeholders Golden Agri-Resources Ltd. ....................................68 3.12.4 Financial stakeholders Asia Food & Properties Ltd......................................70 3.13 Sipef Group.............................................................................................................72 3.13.1 Description of the Sipef Group .....................................................................72 3.13.2 Oil palm holdings of the Sipef Group............................................................72 3.13.3 Financial stakeholders S.A. Sipef N.V..........................................................73 Chapter