Wednesday, August 11, 2010

Unilever Indonesia (UNVR, Rp16,600) , SMART (SMAR, Rp3,500)

Nestle, Unilever to hold off on buying CPO from Sinar Mas Group Nestle SA, the world's biggest food maker, and Unilever will hold off on resuming palm-oil purchases from Sinar Mas Group as they look at the Indonesian company's assertions that inspectors cleared it of destroying rainforests. Nestle will base any decision on buying Sinar Mas-produced palm oil on internal guidelines, the Vevey, Switzerland-based manufacturer said in a statement. Sinar Mas's Golden Agri-Resources, subsidiary company may win back Unilever as a customer if it seeks certification from Roundtable on Sustainable Palm Oil and gives planning details for any plantation development, the Anglo-Dutch company said separately. - Bloomberg