Asian Plantations Limited Trading Update (8469X)

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: [phone] 
  Executive Officer 
  Dennis Melka, Co-Founder & Joint Chief 
  Executive Officer 
 Strand Hanson Limited 
  James Harris                               Tel: [phone] 
  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: [phone] 
  Callum Stewart                             Tel: [phone] 
                                                             2500 
 Bankside Consultants 
  Simon Rothschild                           Tel: [phone] 
                                                             8871 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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