First Resources (Singapore) (SG:EB5) has released an update.
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First Resources Limited has publicly refuted claims made by The Gecko Project, which suggested that it was associated with groups involved in rainforest clearing in Indonesia. The Singapore-based company clarified that it has no ownership or management ties with Ciliandry Anky Abadi and New Borneo Agri/Sulaidy Group, and does not conduct business with entities that do not adhere to its sustainable palm oil policies. While FAP Agri supplies First Resources on an ad-hoc basis, the company maintains that it has no control over FAP Agri and is fully cooperating with RSPO’s complaint process.
For further insights into SG:EB5 stock, check out TipRanks’ Stock Analysis page.