Asian Plantations Limited Trading Update (0089T)
December 07 2012 - 3:55AM
UK Regulatory
TIDMPALM
RNS Number : 0089T
Asian Plantations Limited
07 December 2012
7 December 2012
Asian Plantations Ltd
("Asian Plantations" or the "Company")
Trading Update
The Directors are pleased to announce that the Company's wholly
owned subsidiary, Asian Plantations Milling Sdn Bhd, has entered
into fresh fruit bunch ("FFB") purchase agreements to acquire, in
aggregate, 13,000 tonnes of FFB per month from seven neighbouring
estates with effect from 1 January 2013.
Combined with the Company's forecast in-house FFB production of
approximately 55,000 tonnes for full year 2013, the Company now
expects to produce and sell in excess of 45,000 tonnes of crude
palm oil ("CPO") in calendar year 2013 to the various refineries in
the Bintulu area.
The Company's mill remains on track to begin operations this
month.
Dennis Melka, Joint CEO, commented "We are excited to see the
strong desire from smaller neighbouring estates to sell their FFB
to the Company's mill. The volume of crop to be processed exceeds
all our previous estimates and significantly increases our forward
revenue projections. We remain confident that we will secure
additional third party FFB production to be processed at our mill
and will update shareholders in due course. "
-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 7459
3600
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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