Daewoo Logistics of South Korea has not received approval from Madagascar for a plan to farm maize and palm oil in an area half the size of Belgium, contrary to statements by company officials, it has emerged.

Daewoo managers told the media last month the company would develop 1.3m hectares on the island to secure stable food supplies for South Korea under a 99-year lease, joining a flurry of Asian and Middle Eastern companies seeking to tap Africa’s agricultural export potential.