Asian Plantations Limited Trading Update (8469X)
January 16 2014 - 8:36AM
UK Regulatory
TIDMPALM
RNS Number : 8469X
Asian Plantations Limited
16 January 2014
16 January 2014
Asian Plantations Ltd
("Asian Plantations" or the "Company")
Trading Update
The Directors of Asian Plantations Ltd, a palm oil plantation
company with operations in Malaysia, are pleased to announce a
general trading update.
In the calendar year 2013, the Company achieved the following
headline sales:
-- 26,584 tonnes of crude palm oil ("CPO") for RM 62,795,466,
which represents an average price per tonne of RM 2,362 (or
approximately USD 750 per tonne using an average USD/RM exchange
rate for 2013 of 3.15);
-- 5,604 tonnes of palm kernel nuts ("PK") for RM 7,620,350,
which represents an average price per tonne of RM 1,360 (or
approximately USD 431 using the average exchange rate for 2013 as
above); and,
-- 12,949 tonnes of fresh fruit bunches ("FFB") for RM
4,986,516, which represents an average price per tonne of RM 385
(or approximately USD 124 using the average exchange rate for 2013
as above).
Total FFB, either sold or processed by the Company, was 141,555
tonnes, of which 30,256 tonnes was produced on the Company's
estates and the remainder sourced from 3(rd) party estates.
The Company will provide an update on planting progress when the
latest GPS data, expected by early March 2014, becomes
available.
All other operating activity remains in line with the Board's
expectations.
Graeme Brown, Joint CEO, commented:
"We are very pleased to have met our expectations for sales of
CPO and PK, as forecast in the Company's interim results, in our
first year of milling operations. We believe that the outlook for
the CPO price in 2014 is promising and anticipate that this will
further drive the Company's revenues over the coming year."
- ENDS -
For further information contact:
Asian Plantations Limited
Graeme Brown, Co-Founder & Joint Chief Tel: +65 6325 0970
Executive Officer
Dennis Melka, Co-Founder & Joint Chief
Executive Officer
Strand Hanson Limited
James Harris Tel: +44 (0) 20 7409
James Spinney 3494
James Bellman
Macquarie Capital (Europe) Limited
Steve Baldwin Tel: +44 (0) 203
Dan Iacopetti 037 2000
Panmure Gordon (UK) Limited
Tom Nicholson Tel: +65 6824 8204
Callum Stewart Tel: +44 (0) 20 7886
2500
Bankside Consultants
Simon Rothschild Tel: +44 (0) 20 7367
8871
This information is provided by RNS
The company news service from the London Stock Exchange
END
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