DIRTY BANKERS

Companies:
Group:
Headquarters:
Stocklisted:
RSPO member:
Bumitama Gunajaya Agro (BGA)
and Bumitama Sawit Lestari (BSL)
Bumitama Agri Ltd (BAL)
Singapore
Singapore Stock Exchange
Yes
Bumitama Agri Ltd (BAL) is a group comprising the oil palm plantation
companies Bumitama Gunajaya Agro (BGA) and Bumitama Sawit Lestari
(BSL). 71 BAL was listed on the Singapore Stock Exchange on 12 April 2012. 72
As of March 2015 BAL’s principal owners were the Hariyanto (Lim) family
(51.45%) 73 and IOI Corporation (30.48%). 74 IOI CEO Dato’ Lee Yeow Chor is a
Director of BAL. 75 This makes Bumitama closely linked to IOI, and associated
with other Hariyanto family interests.
CURRENT KNOWN LINKS WITH HSBC
FACILITY TOTAL VALUE VALUE OF HSBC BORROWER SIGNED HSBC ROLE(S)
CONTRIBUTION
Refinance fixed US$120m Undisclosed Bumitama Agri Ltd 11/11/2012 One of seven
term loan
lenders, coordinator,
arranger, agent
Refinance fixed US$70m Undisclosed Bumitama Agri Ltd 05/08/2013 One of seven
term loan
lenders, coordinator,
arranger, agent
TOTAL US$190m Undisclosed
TIMELINE
2012
2013
2014 2015 2016
HSBC ENVIRONMENTAL POLICIES
LOANS, BONDS AND SERVICES
BREACHES OF HSBC POLICY
RSPO COMPLAINTS
BREACHES OF
HSBC POLICY
PT Andalan Sukses Makmur (PT ASMR)
concession, Central Kalimantan; PT Karya
Bakti Agro Sejahtera (PT KBAS) and PT
Ladang Sawit Mas (PT LSM) concessions,
West Kalimantan
OTHER BANKS
LINKED TO
BUMITAMA
• Deforestation for plantation development
(PT ASMR, PT KBAS, PT LSM)
• Destruction of HCV forest
(PT ASMR, PT LSM)
• Development on peatland (PT ASMR, PT
LSM), notably a Ramsar wetland (PT ASMR)
• Involvement with illegal (unlicensed)
operations (PT KBAS)
• Failure to meet timetables for RSPO
certification (company level)
!?
DIRTY BANKERS
15