Jakarta, cartitleloans Indonesia
—
Who
owner
PT
Toba Pulp Sustainable
Tbk is attracting public attention in the midst of a disaster
flood
large and landslides on the island of Sumatra.
The issuer codenamed INRU denies being the culprit behind the devastating floods in Sumatra, which claimed the lives of up to 604 people as of last Monday (1/12).
So, who owns Toba Pulp Lestari?
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Initially, Toba Pulp Lestari was called PT Inti Indorayon Utama Tbk (INRU).This company was founded on April 26 1983 in North Sumatra by national businessman Sukanto Tanoto.His business sector is producing paper pulp and rayon fiber from wood.
On May 16 1990, the company conducted an initial public offering (IPO) on the stock exchange with the stock code INRU, which is still used today even though the company changed its name.
Indorayon Utama’s business journey has been marked by agrarian conflicts with local communities.The company has been accused of environmental pollution, triggering the spread of skin diseases, massive deforestation, and unfairly seizing people’s land.
In 1999, the 3rd President of the Republic of Indonesia, BJ Habibie, temporarily stopped operations at the INRU factory and appointed an independent auditor to investigate alleged environmental damage.However, an audit was never carried out.
The 4th President of the Republic of Indonesia, Abdurrahman Wahid (Gus Dur) again closed INRU operations even though it was finally reopened in 2000 with the condition that rayon production be stopped.
In the same year, Indorayon decided to change its name to Toba Pulp Lestari.Along the way, the share owners changed.
Based on information in the Indonesian Stock Exchange (BEI) Information Disclosure, the owner of Toba Pulp Lestari is no longer Sukamto Tanoto.
Toba Pulp Lestari is owned by an investment company from Hong Kong, Allied Hill Limited, which controls 92.54 percent of the shares.Meanwhile, the remaining 7.46 percent is owned by the public.
Allied Hill is a holding entity that is wholly owned by Joseph Oetomo’s Everpro Investments Limited.
Recently, Toba Pulp Lestari was hit by a major flood and landslide disaster in Sumatra.The company was accused of being the culprit in the incident.
Toba Pulp Lestari denied this accusation.Rebuttals were submitted by individuals via official letters to the Indonesian Stock Exchange (BEI) on Monday, December 1 2025.
“The company firmly denies accusations that operations are the cause of ecological disasters,” said Corporate Secretary Anwar Lawden, quoted on Tuesday (2/12).
INRU claims to carry out operations in accordance with clear and documented Standard Operating Procedures.Environmental monitoring is carried out periodically, in collaboration with independent and certified institutions, to ensure that all activities comply with applicable regulations.
“All HTI (Industrial Plantation Forest) activities have gone through a High Conservation Value (HCV) and High Carbon Stock (HCS) assessment by a third party to ensure the implementation of the principles of Sustainable Forest Management,” he explained.
According to Anwar, of the total area of 167,912 Ha, the company only develops around 46 thousand Ha of eucalyptus plants.Meanwhile, the rest is maintained as a protected and conservation area.
A comprehensive audit by the Ministry of Environment and Forestry (KLHK) was carried out in 2022-2023 and the results stated that the Company TAAT complied with all regulations and no violations were found regarding environmental or social aspects.
“Regarding the allegations of deforestation, we emphasize that the Company carries out harvesting and replanting operations within the concession based on the spatial layout, General Work Plan (RKU), and Annual Work Plan (RKT) that have been determined by the government,” stressed Anwar.
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(pta)
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