Independent advisor to review First Resources’ practices.The Gecko Project, a nonprofit newsroom, reported that the Singapore-listed company has “destroyed more rainforest for palm oil over the last five years than any other corporation in Southeast Asia” through a network of “shadow companies.”
"It is pivotal for us to highlight factual inaccuracies in the report. We would like to state that First Resources does not have any ownership stake or hold any management roles in CAA and NBA/Sulaidy Group. We also do not share the same office addresses nor employees with CAA and NBA/Sulaidy Group,” the company said.
“First Resources cannot be held accountable for the actions or inactions of CAA or NBA/Sulaidy Group,” the company said. “During the financial year ended 31 December 2023, purchases of palm oil materials from FAPA amounted to US$100m, which works out to be approximately 10% of First Resources’ consolidated sales during the year,” the company added.
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