General Announcement::Suspension of Roundtable on Sustainable Palm Oil ("RSPO") Certifications

Issuer & Securities

Issuer/ Manager
IOI INVESTMENT (L) BERHAD
Securities
IOI INVES US$600M4.375%N220627 - XS0792911298 - 2EJB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
06-Jun-2016 19:04:07
Status
New
Announcement Sub Title
Suspension of Roundtable on Sustainable Palm Oil ("RSPO") Certifications
Announcement Reference
SG160606OTHR7GQ6
Submitted By (Co./ Ind. Name)
IOI Corporation Berhad
Designation
Parent Company
Description (Please provide a detailed description of the event in the box below)
Reference is made to the announcements dated 29 March 2016 and 9 May 2016 in relation to the suspension of IOI Corporation Berhad (the Holding Company of IOI Investment (L) Berhad) ("IOI")'s RSPO certifications ("Announcements"). Unless otherwise stated, the definitions used in this announcement are the same as those used previously in the Announcements.

IOI wishes to announce that it has decided to withdraw the challenge proceeding against the RSPO Board's suspension decision in the Zurich District Court of Switzerland. The withdrawal of the challenge proceeding will be formalised during a conciliatory hearing before the Justice of Peace on 14 June 2016.

Since the filing of the challenge proceeding, IOI has engaged with many of our stakeholders such as customers, NGOs and RSPO to resolve this matter. As of to-date, IOI has completed the action plan and submitted to RSPO on 30 May 2016 a Memorandum on our sustainability policy initiatives and resource deployment which was endorsed by our Board of Directors. One of the key policy initiatives stated in the Memorandum is our commitment to voluntarily adopt the more stringent RSPO Next certification system starting from end of year 2016.

The abovestated initiative affirms our commitment and support towards the sustainability principles and the work of RSPO, an organisation of which we are a founding member and on whose Board we have been serving for 10 years already.

This announcement is dated 6 June 2016.