Business Day TV speaks to Gemcorp’s chief economist, Simon Quijano-Evans
The greenest energy is the energy you do not use, so there's no time to waste
Business grouping threatens court action over blanket power reduction on lines that hurts paying customers
Ipsos says 42% would vote for it in a national election now, down from 47% in the 2021 municipal election
The commission referred Mpact and New Era Packaging to the tribunal for prosecution for cartel conduct in 2019
July credit and debit card transactions and vehicle sales show us demand is strong
New survey highlights the gender imbalance that has overshadowed SA’s corporate sector for years
Aliko Dangote to lead a panel set up to find ways to cut resurgent malaria’s prevalence in Nigeria
England Test captain says he hopes his team has retained their “venom” before the three-match series against SA
Failing to reduce CO² emissions to set targets could cost the carmaker as much as $572m in penalties from US authorities
Gbah/Kuala Lumpur — When Malaysia’s biggest plantation company, Sime Darby, leased 220,000ha of lush forest in northwest Liberia in 2009, executives said they had found a much-needed new frontier in global palm oil development.
Undulating hills, a tropical climate and plenty of untouched land made the West African country’s interior ideal for palm oil growers running out of room in Southeast Asia.
Nine years later, however, Sime Darby Plantation has planted only 10,000ha in Liberia and has not laid a seed in two years, stalled by uncertainties over new environmental standards.
"We are losing money. We have to balance our books or there is no future," said David Parker, the head of Sime Darby Plantations in Liberia.
In its earnings report for the financial year ending in June 2017, Sime Darby said it had filed a 202-million ringgit ($51.3m) impairment — a permanent reduction in the value of the asset — on its Liberia operations.
The operations were "affected by a number of factors, i...
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email firstname.lastname@example.org or call 0860 52 52 00. Got a subscription voucher? Redeem it now
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.