Indonesian govt urged to resolve mounting agrarian conflicts
Report says at least 1,000 disputes were triggered by the presence of palm oil firms
A farmer harvests fresh palm oil fruit at his plantation in Riau, Sumatra island, in this 2018 file photo. (Photo supplied by Palm Oil Farmers Union)
Environmentalists in Indonesia have called on the government to try and settle more than 1,000 disputes triggered by the presence of palm oil plantations, including agrarian ones between indigenous people and palm oil companies across the country.
They said the situation is threatening to spiral out of control
In its annual report issued on Feb 17, Sawit Watch Indonesia said there were at least 1,061 disputes involving plantations last year. The disputes included forest destruction, human rights violations, agrarian disputes and burning.
Fitch Assigns Adani Ports’ USD500 Million Notes ‘BBB-‘ Final Rating; Outlook Negative
USD500 million senior unsecured notes due 2031 a final rating of ‘BBB-‘ with a Negative Outlook. The new issue ranks pari passu with the company’s existing US dollar bonds. The proceeds are being used primarily for refinancing the early redemption of APSEZ’s US dollar bond due 2022.
The final rating follows the receipt of documents conforming to information already received and is in line with the expected rating assigned on 25 January 2021.
RATING RATIONALE
The rating reflects APSEZ’s market leading position in India, the stability of long-term cargo revenue and its operational efficiency. The coronavirus pandemic may result in weaker domestic demand and exports, but cargo mobility is largely uninterrupted despite the global lockdowns.
Fitch Assigns Adani Ports’ Proposed USD Notes ‘BBB-(EXP)’ Rating; Outlook Negative
Fitch Ratings has assigned India-based port operator Adani Ports and Special Economic Zone Limited’s (APSEZ, BBB-/Negative) proposed senior unsecured notes of up to USD500 million an expected rating of ‘BBB-(EXP)’ with a Negative Outlook. The proposed bond is ranked pari passu with the company’s existing US dollar bonds. The proceeds will be used primarily for refinancing the early redemption of APSEZ’s US dollar bond due 2022.
The final rating is contingent upon the receipt of final documents conforming to information already received.
RATING RATIONALE
Indonesia, Flooding in Tapin Regency, South Kalimantan (08:30 Dec 26 2020)
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Local BPBD established a quick response team together with TNI and POLRI and conducted a ground check at the flood area.
Local BPBD coordinated with the related institutions regarding the breakdown of the Binuang river siring.
Distributing instant food
Fitch Rates Adani International Container Terminal’s Proposed Notes First-Time ‘BBB-(EXP)’
Fitch Ratings has assigned Adani International Container Terminal Private Limited’s (AICTPL) proposed US-dollar senior secured partially amortising notes due 2031 an expected rating of ‘BBB-(EXP)’. The Outlook is Negative.
The final rating is contingent upon the receipt by Fitch of final documents conforming to information already received as well as the final pricing and financial close on the proposed notes.
RATING RATIONALE
AICTPL benefits from its strategic position within the primary port of call in north-west India, revenue stability from long-term cargo and high operational efficiency. We regard the volatility of AICTPL’s revenue as low due to its affiliation with Mediterranean Shipping Company S.A. (MSC) through its 50% parent, Terminal Investment Limited (TIL); TIL, which is majority owned by MSC, is the world’s sixth largest container terminal operator. MSC is able