Indonesia revokes 28 firms' permits, says violations worsened flood impact

About this update from Pt Toba Pulp Lestari Tbk

Indonesia has revoked the permits of 28 companies over violation of environmental rules that exacerbated the impact of floods in Northern Sumatra, a presidential spokesperson told a press conference on Tuesday. The death toll from cyclone-induced floods and landslides, which destroyed houses and forced people into evacuation centres in Sumatra in late November, was 1,200 with 143 people missing and about 114,000 people evacuated, according to official data."President decided to revoke the permits of 28 companies found guilty of violations. 22 companies in forest utilisation sector covering 1.01 million hectares (2.47 million acres) and 6 companies in mining and plantation," presidential spokesperson Prasetyo Hadi said. The Indonesian environment ministry said last week it had filed a civil lawsuit against six companies suspected of causing massive environmental damage in North Sumatra province. The companies allegedly damaged an area covering 2,516 hectares.

View stock analysis, news, and events for Pt Toba Pulp Lestari Tbk