First Resources (SGX:EB5) said the appeals panel of the Roundtable on Sustainable Palm Oil (RSPO) upheld an earlier decision clearing the company of breaching the organization's rules, according to a Tuesday filing with the Singapore Exchange.

RSPO is a non-profit body that aims to develop and implement global standards for sustainable palm oil.

The panel upheld a three-month RSPO membership suspension on procedural disclosure matters, which the company said is an administrative sanction not related to environmental practices and carries no corrective actions.

First Resources remains an RSPO member during the suspension, the filing said.