Malaysian palm oil firm Kuala Lumpur Kepong (KLK) denied on Monday it had breached Indonesia’s two-year forest clearing ban on the first day it was signed to law, calling the allegation by an environmental group “preposterous”. KLK is a part of the $550 billion portfolio for a Norwegian sovereign wealth fund, which EIA and its Indonesian partner Telapak says has profited from deforestation.
But Malaysia’s third-largest listed planter said it stopped an “over eager” contractor from making an unauthorised clearing of a small logged over area that is a small part of one of its concessions in Borneo island……………………………………….Full Article: Source