(PALM) Asian Plantations

(PALM) Asian Plantations

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Time: 18:36 (Market Closed)

Bid	242.00
Ask	248.00
Price	245.00
Previous	247.00
Change	-2 (-0.81%)
Last Trade	245 (16:35:07)
Trading Vol.	28,791
Today's High	245.00
Today's Low	240.00

52 Wk Low	227.00
52 Wk Low	(22/12/2011)
52 Wk High	291.00
52 Wk High	(09/02/2011)
52 Wk Change	-43.50
52 Wk Change	(-15.08%)
4 Wk Volume	224,484
ISIN Number	SG9999006522
Currency	GBX

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23-12-11

Asian Plant. Ltd - Appointment of Joint Broker

RNS

RNS Number : 5445U

Asian Plantations Limited

23 December 2011

Asian Plantations Limited

("APL" or the "Company")

Appointment of Joint Broker

Asian Plantations Limited (LSE: PALM), a palm oil plantation company with operations in Malaysia, is pleased to announce that is has appointed Macquarie Capital (Europe) Limited as Joint Broker to the Company with immediate effect.

About Asian Plantations:

Asian Plantations Limited is a Palm Oil plantation company, incorporated in Singapore with 100% owned Malaysian subsidiaries that are involved in the acquisition and development of palm oil plantation land across Sarawak, Malaysia.

The Company's business strategy is to acquire under-priced, properly zoned agricultural land in Malaysia which can be developed into high-quality, mature palm oil estates.

The Company currently owns four estates totalling approximately 20,645 hectares

About Macquarie:

Founded in 1969 and employing more than 15,000 people worldwide in over 70 offices, Macquarie is a global provider of banking, financial, advisory, investment and funds management services acting on behalf of institutional, corporate and retail clients. Macquarie's EMEA operations, headquartered in London, employ more than 1,500 people in 18 offices across the region.

Macquarie Capital's offering in EMEA includes advisory, capital markets, underwriting and wholesale structuring capabilities.

For further information contact:

Asian Plantations Limited

Graeme Brown, Joint Chief Executive Officer

Dennis Melka, Joint Chief Executive Officer

Tel: +65 6325 0970

Strand Hanson Limited

James Harris

Paul Cocker

Liam Buswell

Tel: +44 (0) 20 7409 3494

Panmure Gordon (UK) Limited

Tom Nicholson

Callum Stewart

Tel: +65 6824 8204

Tel: +44 (0) 20 7459 3600

Macquarie Capital (Europe) Limited

Steve Baldwin

Dan Iacopetti

Tel: +44 (0) 20 3037 2000

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

APPFEWFWEFFSESE

11-10-11

Asian Plant. Ltd - Subscription

RNS

RNS Number : 9177P

Asian Plantations Limited

11 October 2011

Asian Plantations Limited

("APL" or the "Company")

Subscription

Asian Plantations Limited (LSE: PALM), a palm oil plantation company with operations in Malaysia, is pleased to announce that the Company has entered into share subscription agreements with a number of institutional and other investors for a total of 5,457,271 new ordinary shares of no par value ("Ordinary Shares") in the Company (the "Subscription Shares") at a subscription price of US$3.75 (the "Subscription Price"), approximately 241 pence per share at current exchange rates (the "Subscription"). This Company sponsored Subscription will raise US$20.5 million (approximately £13.2 million), before expenses.

The Subscription Price represents a 221 per cent. premium to the placing price at the time of the initial listing on AIM on 30 November 2009, a 119 per cent. premium to the placing price on 16 August 2010 and a 10 per cent. premium to the placing price on 28 February 2011. The Subscription increases the total cash equity invested, including convertible bond issuance, in the Company by approximately 40 per cent. from US$50.9 million to US$71.4 million.

The Company intends to use the proceeds from the Subscription to close on the proposed acquisition, announced by the Company on 29 September 2011 (the "Proposed Acquisition") and for general working capital purposes. The Company is pleased to announce that it is fully funded for the development of its existing 20,645 ha of land resource and, should the board of APL choose to proceed with it, the Proposed Acquisition.

The Subscription Shares will be credited as fully paid and rank pari passu in all respects with all existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid on the Ordinary Shares. The Subscription Shares represent approximately 13.4 per cent. of the existing Ordinary Shares. The Company has undertaken to the purchasers of the Subscription Shares that for a period of 18 months (the "Moratorium Period"), the Company will not issue new Ordinary Shares below the Subscription Price (excluding Ordinary Shares available for conversion under the Company's existing convertible bonds and the Company's share option scheme). In the improbable event that the Company did issue new Ordinary Shares below the Subscription Price within the Moratorium Period, the original purchasers of the Subscription Shares would be entitled to a price adjustment on any Subscription Shares they still hold, equivalent to the difference between the Subscription Price and the theoretical discounted future issuance price, payable in Ordinary Shares. For the avoidance of doubt, the Company has no present intention nor does it anticipate the requirement to issue shares during the Moratorium Period at a price lower than the Subscription Price.

Application will be made by Strand Hanson Limited to the London Stock Exchange plc for the Subscription Shares to be admitted to trading on AIM ("Admission") and it is expected that dealings in the Subscription Shares will commence on 14 October 2011, following which the enlarged issued share capital of the Company will total 46,174,751 Ordinary Shares (the "Enlarged Share Capital"). The Company does not hold any shares in treasury.

Director's dealing

Keresa Plantations Sdn Bhd, a company controlled by the Company's Chairman, Tan Sri Datuk Linggi, is participating in the Subscription through the purchase of 266,208 Subscription Shares for a gross consideration of US$1,000,000. Following Admission, Keresa Plantations Sdn Bhd will hold 13,649,208 Ordinary Shares, representing 29.56 per cent. of the Enlarged Share Capital.

Holdings in Company

Zesiger Capital Group LLC, as investment advisor, is participating in the Subscription by subscribing for 3,993,125 Subscription Shares on behalf of a number of pension funds and institutional investors. Following Admission, Zesiger Capital Group LLC will hold 3,993,125 Ordinary Shares, representing 8.65 per cent. of the Enlarged Share Capital.

Asian Agri Capital's investment funds are participating in the Subscription by subscribing for 173,035 Subscription Shares. Following Admission, Asian Agri Capital, collectively through its investment funds, will hold 1,615,705 Ordinary Shares, representing 3.50 per cent. of the Enlarged Share Capital.

Dennis Melka, APL's Joint Chief Executive Officer, added:

"We are delighted to have received such strong demand from new and existing shareholders for the Company-sponsored placing, particularly given the current period of extreme market volatility and the significant declines in market indexes. The shareholder register has been further enhanced and the Company is now funded to almost double its existing land resource through the Proposed Acquisition. The new funds raised further strengthen the Company's position as a premier, rapidly growing Malaysian palm oil operator. We look forward to updating shareholders on further corporate developments in the months ahead as we significantly increase the rate of plantings during the next year and prepare for the opening of our milling complex in the 4^th quarter of 2012."

For further information contact:

Asian Plantations Limited

Graeme Brown, Joint Chief Executive Officer

Dennis Melka, Joint Chief Executive Officer

Tel: +65 6325 0970

Strand Hanson Limited

James Harris

Paul Cocker

Liam Buswell

Tel: +44 (0) 20 7409 3494

Panmure Gordon (UK) Limited

Tom Nicholson

Callum Stewart

Tel: +65 6824 8204

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

IOEGGGAPUUPGGQU

29-09-11

Asian Plant. Ltd - Half Yearly Report

RNS

RNS Number : 1794P

Asian Plantations Limited

29 September 2011

Asian Plantations Limited

("APL" or the "Company")

Interim Results for the Six Months ended 30 June 2011 &

Proposed Acquisition

Asian Plantations Limited (LSE: PALM), a palm oil plantation company with operations in Malaysia, is pleased to announce its unaudited interim results for the six month period ending 30 June 2011.

Highlights

· Sale of 1,233 tonnes fresh fruit bunches ("FFB") sold at an average price of RM671 (circa. US$221) per tonne.

· Fundraise of £16 million (circa. US$25 million) on 28 February 2011, via an institutional placing at 220 pence per share, representing a premium of 193 per cent. to the Company's admission price of 75 pence per share on 30 November 2009.

· Subsequent to the end of the period under review, on 17 August 2011, the Company raised an additional US$2.1 million, via the issuance of a convertible bond with an effective conversion price of 309 pence per share based on current exchange rates.

· On 25 August 2011, the announcement of the acquisition of the partly developed 5,000 hectare Dulit estate adjacent to the Company's existing Incosetia estate. The Dulit estate is expected to generate in excess of 22,000 tonnes of FFB in 2012. This acquisition brings the Company's total land resource to 20,645 hectares, in line with its growth objectives stated at admission.

· Aggressive planting programme remains on track and the Company expects its current land resource, including that of the Dulit estate, to be fully planted by early 2014.

· The Company's mill is currently under construction and the requisite state approvals have been secured. The mill is expected to be operational in 4Q 2012.

Tan Sri Datuk Linggi, Non-Executive Chairman of APL, commented:

"We are now into our fourth year of significant investment and land development. Based on the current planting schedule and pro forma for the closing of the recently announced Dulit acquisition, we expect to harvest approximately 50,000 tonnes of FFB in 2012, with an eventual target of over 500,000 tonnes per annum, as all four existing fields fully mature in the years ahead.

"The recently announced Dulit acquisition achieves our previously stated strategy to achieve a land resource of titled, Malaysian agricultural land in excess of 20,000 hectares by November 2011, two years following the Company's admission to AIM. Further, we anticipate that at the time the Dulit acquisition successfully completes, three of the Company's four estates will be revenue producing.

"All indicators point to increased scarcity for Malaysian titled land, a relative tightness in global edible oil inventories and rising global awareness about the importance of palm oil in the global food supply chain. Coupling these trends with a healthy edible oil price environment, the board of APL (the "Board") believes that its strategy of assembling properly titled, land parcels in Malaysia, an investment grade rated country, will generate long term substantial value for the Company's shareholders."

Proposed Acquisition

In addition, the Board announces that a subsidiary of the Company has recently entered into a conditional agreement for the proposed acquisition of a Malaysian company (the "Proposed Target") for a total maximum consideration of up to US$22 million. The Proposed Target holds a 60 per cent. equity interest in a joint venture company that will have ownership over two distinct land parcels in Sarawak, Malaysia (the "Proposed Acquisition"). The land parcels, the size of which remains subject to a land survey but which the Board estimates to aggregate up to approximately 20,000 hectares, are to be jointly developed pursuant to a joint venture agreement between the Proposed Target and a Sarawak Government-linked entity. In respect of the Proposed Acquisition, the completion of which remains subject to Board approval, the Company has paid a refundable deposit of RRM7.9 million (US$2.5 million) to the Proposed Target until completion of APL's due diligence exercise, expected to be within two to three months, at which point the Board will decide whether to further pursue the opportunity. In the event that the Board decides to pursue the Proposed Acquisition, APL will seek to secure the required funding via a combination of an equity fundraise and/or a new debt facility. A further announcement will be made in due course.

For further information contact:

Asian Plantations Limited

Dennis Melka, Joint Chief Executive Officer

Graeme Brown, Joint Chief Executive Officer

Tel: +65 6325 0970

Strand Hanson Limited

James Harris

Paul Cocker

Liam Buswell

Tel: +44 (0) 20 7409 3494

Panmure Gordon (UK) Limited

Tom Nicholson

Callum Stewart

Tel: +65 6824 8204

Tel: +44 (0) 20 7459 3600

Bankside Consultants

Simon Rothschild

Tel: +44 (0) 20 7367 8871

Interim Condensed Consolidated Income Statement

for the six-month period ended 30 June 2011

	Note	Six Months Ended 30.6.2011	Six Months Ended 30.6.2010
		USD'000	USD'000
		Unaudited	Unaudited

Revenue		274	101

Cost of sales		(167)	(78)


Gross profit		107	23

Other income	6	141	18

Other items of expenses
Administrative expenses	7	(1,296)	(942)
Other expenses	8	(1,334)	(543)
Finance expenses	9	(802)	(565)


Loss before taxation		(3,184)	(2,009)
Income tax expense	10	209	-


Loss for the period		(2,975)	(2,009)


Loss attributable to :

Owners of the Company		(2,975)	(2,009)


Loss per share attributable to owners of the Company (cents per share)

Basic	11	(7.7)	(6.8)

Diluted			11		(7.7)		(6.8)

The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

Interim Condensed Consolidated Statement of Comprehensive Income

for the six-month period ended 30 June 2011

	Six Months Ended 30.6.2011	Six Months Ended 30.6.2010
	USD'000	USD'000
	Unaudited	Unaudited

Loss for the period	(2,975)	(2,009)

Other comprehensive income:
Foreign currency translation adjustments	764	612


Total comprehensive income for the period	(2,211)	(1,397)


Total comprehensive income attributable to:

Owners of the Company	(2,211)	(1,397)

The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

Interim Condensed Consolidated Statement of Financial Position as at 30 June 2011

	Note	30.6.2011	31.12.2010
		USD'000	USD'000
		Unaudited	Audited

Non-current assets

Property, plant and equipment	12	11,904	9,576
Biological assets	13	14,365	11,022
Land use rights	14	33,933	33,546
Goodwill on consolidation		7,726	7,560


Total non-current assets		67,928	61,704


Current assets


Inventories		238	122
Trade and other receivables		464	193
Prepaid operating expenses		674	165
Cash and cash equivalents	15	22,438	1,247


Total current assets		23,814	1,727


Total assets		91,742	63,431


Current liabilities


Trade and other payables		820	795
Other liabilities		515	253
Loans and borrowings Derivative financial instruments	16 17	2,156 502	2,267 -
		2,156 502	2,267 -

Total current liabilities		3,993	3,315
			3,315

Non-current liabilities

Loans and borrowings	16	40,614	36,304
Convertible bonds	17	865	-
Deferred tax liabilities		5,734	5,810


Total non-current liabilities		47,213	42,114


Total liabilities		51,206	45,429


Net assets		40,536	18,002

Interim Condensed Consolidated Statement of Financial Position as at 30 June 2011 (cont'd)

	Note	30.6.2011	31.12.2010
		USD'000	USD'000
		Unaudited	Audited

Attributable to owners of the Company

Share capital	18	66,956	42,211
Other reserves		(18,231)	(18,995)
Accumulated losses		(8,189)	(5,214)


Total equity		40,536	18,002

The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

Interim Condensed Consolidated Statement of Changes in Equity

for the six-month period ended 30 June 2011

	Attributable to equity holders of the Company
	Share capital	Other reserves	Accumulated losses	Total equity
	USD'000	USD'000	USD'000	USD'000

For the six months ended 30.6.2011

Unaudited
At 1 January 2011	42,211	(18,995)	(5,214)	18,002


Loss for the period	-	-	(2,975)	(2,975)

Other comprehensive income
Foreign currency translation adjustments	-	764	-	764


Total comprehensive income for the period	-	764	(2,975)	(2,211)

Issuance of ordinary shares for cash	25,752	-	-	25,752
Share issuance expenses	(1,007)	-	-	(1,007)


At 30 June 2011	66,956	(18,231)	(8,189)	40,536



For the six months ended 30.6.2010

Unaudited
At 1 January 2010	35,459	(20,452)	(1,748)	13,259


Loss for the period	-	-	(2,009)	(2,009)

Other comprehensive income
Foreign currency translation adjustments	-	738	(126)	612


Total comprehensive income for the period	-	738	(2,135)	(1,397)


At 30 June 2010	35,459	(19,714)	(3,883)	11,862

The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

Interim Condensed Consolidated Statement of Cash Flows

for the six-month period ended 30 June 2011

	Six Months Ended 30.6.2011	Six Months Ended 30.6.2010
	USD'000	USD'000
	Unaudited	Unaudited

Cash flows from operating activities
Loss before taxation	(3,184)	(2,009)

Adjustments for:
Amortisation of land use rights	315	198
Depreciation of property, plant and equipment	68	22
Gain on disposal of property, plant and equipment	(1)	-
Loss arising from changes in fair value of convertible bond	299	-
Interest income	(59)	-
Interest expense	802	565
Unrealised gain on foreign exchange	(51)	-
Currency realignment	-	(38)


Operating cash flows before changes in working capital	(1,811)	(1,262)

Increase in inventories	(114)	(38)
(Increase)/decrease in trade and other receivables	(287)	1
Increase in other assets	(506)	(51)
Increase/(decrease) in trade and other payables	268	(316)


Cash flows used in operations	(2,450)	(1,666)

Tax refund	20	-
Interest received	59	-
Interest paid	(1,346)	(638)


Net cash used in operating activities	(3,717)	(2,304)


Cash flows from investing activities

Proceeds from disposal of property, plant and equipment	3	-
Purchase of property, plant and equipment	(2,074)	(1,169)
Additions to biological assets	(2,204)	(1,387)


Net cash used in investing activities	(4,275)	(2,556)

Interim Condensed Consolidated Statement of Cash Flows

for the six-month period ended 30 June 2011 (cont'd)

	Six Months Ended 30.6.2011	Six Months Ended 30.6.2010
	USD'000	USD'000
	Unaudited	Unaudited

Cash flows from financing activities

Proceeds from issuance of ordinary shares	25,752	-
Share issuance expenses	(1,007)	-
Proceed from convertible bond	1,000	-
Repayment of term loan	(3)	-
Drawdown of term loans	3,268	2,226
Repayment of finance lease	(49)	(18)


Net cash generated from financing activities	28,961	2,208


Net increase/(decrease) in cash and cash equivalents	20,969	(2,652)
Effect of exchange rates on cash and cash equivalents	450	214
Cash and cash equivalents, beginning balance	1,019	4,174


Cash and cash equivalents, ending balance (Note 15)	22,438	1,736

The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

1. General Information

(a) Corporate information

Asian Plantations Limited (the "Company") is a limited liability company incorporated and domiciled in the Republic of Singapore and listed on the Alternative Investment Market ("AIM") of the London Stock Exchange.

The registered office of the Company is located at No.14 Ann Siang Road, #02-01, Singapore 069694.

The principal activity of the Company is that of investment holding. The principal activities of the subsidiaries are development of oil palm plantation.

(b) Subsidiaries

As disclosed in the Group's annual financial statements as at 31 December 2010, the Group acquired Fortune Plantation Sdn. Bhd on 31 December 2010. The goodwill on acquisition of USD2,712,000 continues to be determined on a provisional basis as the purchase price allocation has not been completed by the date the interim financial statements was authorised for issue.

During the financial period, the Company acquired two new subsidiaries. The two new subsidiaries are dormant companies and therefore do not have a material effect on the financial results and financial position of the Group. There is no acquisition related expenses arising from the acquisition of these subsidiaries.

2. Basis of preparation and changes to the Group's accounting policies

Basis of preparation

The interim condensed consolidated financial statements for the six months ended 30 June 2011 are unaudited and do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Group's annual financial statements as at 31 December 2010.

The interim condensed consolidated financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB").

The accounting policies, presentation and methods of computation have been followed in these unaudited financial statements as were applied in the preparation of the Group's annual financial statements for the year ended 31 December 2010.

The financial statements are presented in United States Dollars ("USD") to facilitate the comparison of financial results with companies in the oil-palm industry and all values are rounded to the nearest thousand ("USD'000") except when otherwise indicated.

The interim condensed consolidated financial statements for the six months ended 30 June 2011 was approved by the Directors on 30 September 2011.

2. Basis of preparation and changes to the Group's accounting policies (cont'd)

New standards, interpretations and amendments thereof, adopted by the Group

The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group's annual financial statements for the year ended 31 December 2010, except for the adoption of new standards and interpretations as of 1 January 2011, noted below:

IAS 24 Related Party Transactions (Amendment)

The IASB has issued an amendment to IAS 24 that clarifies the definitions of a related party. The new definitions emphasise a symmetrical view of related party transactions as well as clarifying in which circumstances persons and key management personnel affect related party relationships of an entity. Secondly, the amendment introduces an exemption from the general related party disclosure requirements for transactions with a government and entities that are controlled, jointly controlled or significantly influenced by the same government as the reporting entity. The adoption of the amendment did not have any impact on the financial position or performance of the Group.

IAS 32 Financial Instruments: Presentation (Amendment)

The amendment alters the definition of a financial liability in IAS 32 to enable entities to classify rights issues and certain options or warrants as equity instruments. The amendment is applicable if the rights are given pro rate to all the existing owners of the same class of an entity's non-derivative equity instruments, to acquire a fixed number of the entity's own equity instruments for a fixed amount in any currency. The amendment has no effect on the financial position or performance of the Group.

IFRIC 14 Prepayments of a Minimum Funding Requirements (Amendment)

The amendment removes an unintended consequence when an entity is subject to minimum funding requirements ("MFR") and makes an early payment of contributions to cover such requirements. The amendment permits a prepayment of future service cost by the entity to be recognised as pension asset. The Group is not subject to minimum funding requirements in the Republic of Singapore. The amendment to the interpretation therefore had no effect on the financial position or performance of the Group.

Improvements to IFRS (issued May 2010)

In May 2010, the IASB issued its third omnibus of amendments to its standards, primarily with a view to removing inconsistencies and clarifying wording. There are separate transitional provisions for each standard. The adoption of the following amendments resulted in changes to accounting policies, but did not have any impact on the financial position or performance of the Group.

IFRS 3 Business combinations: The measurement options available for non-controlling interest ("NCI") have been amended. Only components of NCI that constitute a present ownership interest that entitles their holder to a proportionate share of the entity's net assets in the event of liquidation shall be measured at either fair value or at the present ownership instruments' proportionate share of the acquiree's identifiable net assets. All other components are to be measured at their acquisition date fair value.

2. Basis of preparation and changes to the Group's accounting policies (cont'd)

New standards, interpretations and amendments thereof, adopted by the Group (cont'd)

IFRS 7 Financial Instruments - Disclosures: The amendment was intended to simplify the disclosures provided by reducing the volume of disclosures around collateral held and improving disclosures by requiring qualitative information to put the quantitative information in context.

IAS 1 Presentation of Financial Statements: The amendment clarifies that an option to present an analysis of each component of other comprehensive income may be included either in the statement of changes in equity or in the notes to the financial statements.

IAS 34 Interim Financial Statements: The amendment requires additional disclosures for fair values and changes in classification of financial assets, as well as changes to contingent assets and liabilities in interim condensed financial statements.

Other amendments resulting from improvements to IFRS to the following standards did not have any impact on the accounting policies, financial position or performance of the Group:

IFRS 3 Business Combinations - Clarification that contingent consideration arising from business combination prior to adoption of IFRS 3 (as revised in 2008) are accounted for in accordance with IFRS 3 (2005).

IFRS 3 Business Combinations - Unreplaced and voluntarily replaced share-based payment awards and its accounting treatment within a business combination.

IAS 27 Consolidated and Separate Financial Statements - applying the IAS 27 (as revised in 2008) transition requirements to consequentially amended standards.

IFRIC 13 Customer Loyalty Programmes - in determining the fair value of award credits, an entity shall consider discounts and incentives that would otherwise be offered to customers not participating in the loyalty programme.

Standards, interpretation or amendment issued but not yet effective

The Group has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective.

3. Significant accounting judgements and estimates

The preparation of the consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities at the end of the reporting date. However, uncertainty about these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amount of the asset or liability affected in the future period.

3. Significant accounting judgements and estimates (cont'd)

3.1 Judgements made in applying accounting policies

In the process of applying the Group's accounting policies, management has made the following judgements, apart from those involving estimations, which has the most significant effect on the amounts recognised in the consolidated financial statements:

(a) Determination of functional currency

The Group continues to determine its functional currencies to be RM based on management's assessment of the economic environment in which the entities operate and the entities' process of determining sales prices.

(b) Fair value of biological assets (immature plantation)

Biological assets are stated at fair value. Management maintain the judgement that cost approximates fair value of the biological asset for immature plantation because it involved a new oil palm plantation and that little biological transformation has taken place since its initial cost incurrence. The carrying amount of the immature plantation as at 30 June 2011 is USD12,278,000 (31 December 2010: USD8,927,000).

3.2 Key sources of estimation uncertainty

The key assumptions concerning the future and other key sources of estimation uncertainty at the end of each reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:

(a) Biological assets (mature plantation)

The Group continues to measure its mature plantation included in the biological assets at fair value less estimated costs to sell, based on discounted cash flow model. The carrying amount of the mature plantation as at 30 June 2011 is USD960,000 (31 December 2010: USD940,000). Further details of the key assumptions used are disclosed in Note 13.

(b) Useful lives of property, plant and equipment

There are no changes to the estimated economic useful life of property, plant and equipment of within 5 to 25 years.

Goodwill arising from business combinations is allocated to the cash-generating unit, namely the plantation estate, for the purpose of impairment testing. Management continues to assess for impairment based on value-in-use calculations using cash flow projections, covering a period of 25 productive years of oil palms, based on financial budgets approved by management. Based on management's analysis, goodwill is not impaired as at 30 June 2011.

4. Seasonality of operations

The Group's plantation operations are affected by seasonal crop production, weather conditions and fluctuating commodity prices. As a result, the comparison of half-year to half-year results may not be a good indicator of the overall trend of the Group's plantation operations or of the results for the whole of the financial period.

5. Operating segment information

The Group continues to be organised as one segment and the Chief Operating Decision Makers review the profit or loss of the entity as a whole, which is the plantation segment and in one geographical location, Malaysia.

6. Other income

	Six Months Ended 30.6.2011	Six Months Ended 30.6.2010
	USD'000	USD'000
	Unaudited	Unaudited

Short term deposits interest income	60	18
Sale of seedlings	81	-

	141	18

7. Administrative expenses

Included in administrative expenses are audit, tax, legal and other professional fees amounting to USD345,000 (six months ended 30.6.2010: USD464,000).

8. Other expenses

	Six Months Ended 30.6.2011	Six Months Ended 30.6.2010
	USD'000	USD'000
	Unaudited	Unaudited

Loss arising from changes in fair value of embedded derivative of the convertible bond	299	-
Net foreign exchange loss	493	-
Repair and maintenance	164	133
Motor vehicle running expenses	1	-
Amortisation of land use rights	315	198
Cost of seedlings sold	62	-
Acquisition of subsidiary related expenses	-	212

	1,334	543

9. Finance expenses

	Six Months Ended 30.6.2011	Six Months Ended 30.6.2010
	USD'000	USD'000
	Unaudited	Unaudited

Interest expense on loans and borrowings	726	565
Interest expense on convertible bond	9
Accretion of interest on the convertible bond	67	-

	802	565

10. Income tax expense

The major components of income tax expense in the interim consolidated income statement are:

	Six Months Ended 30.6.2011	Six Months Ended 30.6.2010
	USD'000	USD'000
	Unaudited	Unaudited

Over provision of income tax expense in prior period	(11)	-
Deferred income tax expense related to origination and reversal of deferred taxes	(198)	-

Total income tax expense	(209)	-

11. Loss per share

Basic loss per share are calculated by dividing loss, net of tax, attributable to owners of the Company by the weighted average number of ordinary shares outstanding during the period.

The following tables reflect the loss and share data used in the computation of basic loss per share for the respective periods:


	Six Months Ended 30.6.2011	Six Months Ended 30.6.2010
	USD'000	USD'000
	Unaudited	Unaudited

Loss for the period attributable to owners of the Company	(2,975)	(2,009)

11. Loss per share (cont'd)

* The weighted average number of ordinary shares takes into account the weighted average

effect of changes in ordinary shares transactions during the period.

The unsecured convertible bonds of USD1 million issued during the period have not been included in the calculation of diluted earnings per share because they are anti-dilutive.

12. Property, plant and equipment

	30.6.2011	31.12.2010
	USD'000	USD'000
	Unaudited	Audited

At cost
At 1 January	9,576	5,063
Additions	2,482	2,950
Disposal	(2)	-
Acquisition of subsidiaries	-	1,286
Depreciation	(363)	(355)
Exchange differences	211	632


	11,904	9,576


Depreciation of property, plant and equipment capitalised to biological assets:	295	312

13. Biological assets

	30.6.2011	31.12.2010
	USD'000	USD'000
	Unaudited	Audited

At fair value
At 1 January	11,022	6,093
Additions	3,110	4,121
Exchange differences	233	808


	14,365	11,022

13. Biological assets (cont'd)

	30.6.2011	31.12.2010
	USD'000	USD'000
	Unaudited	Audited

Represented by:
Mature plantation	960	940
Immature plantation	12,278	8,927
Nursery	1,127	1,155



					14,365		11,022

Mature oil palm trees produce fresh fruit bunches("FFBs") which are used to produce Crude Palm Oil ("CPO"). The fair values of oil palm plantations are determined by using the discounted future cash flows of the underlying plantations. The expected future cash flows of the oil palm plantations are determined using the projected selling prices of CPO in the market.

Significant assumptions made in determining the fair values of the mature oil palm plantations, using a discounted cash flow model, are as follows:

(a) no new planting or re-planting activities are assumed;

(b) oil palm trees have an average life that ranges from 28 years (31.12.2010: 28 years), with the first three years as immature and the remaining years as mature;

(c) discount rate used for the Group's plantation operations which is applied in the discounted future cash flows calculation is 9.1% (31.12.2010: 9.6%);

(d) FFB price is derived by applying the oil extraction rate to the estimated CPO price of USD735 (31.12.2010: USD741) per metric tonne; and

(e) yield per hectare of oil palm trees is based on the standard yield profile of the industry.

14. Land use rights

	30.6.2011	31.12.2010
	USD'000	USD'000
	Unaudited	Audited

At cost
At 1 January	33,546	20,950
Acquisition of subsidiaries	-	10,702
Amortisation charge	(315)	(406)
Exchange differences	702	2,300


	33,933	33,546

15. Cash and cash equivalents

For the purpose of the interim condensed consolidated statement of cash flows, cash and cash equivalents comprised the following:

	30.6.2011	30.6.2010
	USD'000	USD'000
	Unaudited	Unaudited

Cash at bank	18,051	508
Short term deposits	4,387	1,228


	22,438	1,736

16. Loans and borrowings

	30.6.2011	31.12.2010
	USD'000	USD'000
	Unaudited	Audited

Current

Bank overdraft	-	228
Short term revolving credit	1,987	1,946
Term loans	5	6
Obligation under finance leases	164	87


	2,156	2,267


Non-current

Term loans	39,969	35,950
Obligation under finance leases	645	354


	40,614	36,304


Total loans and borrowings

Bank overdraft	-	228
Short term revolving credit	1,987	1,946

Term loans	39,974	35,956
Obligation under finance leases	809	441


	42,770	38,571

16. Loans and borrowings (cont'd)

	30.6.2011	31.12.2010
	USD'000	USD'000
	Unaudited	Audited
Maturity of borrowings (excluding obligations under finance leases)

Within one year	1,992	2,180
After one year but not more than five years	19,453	4,086
More than five years	20,516	31,864


	41,961	38,130

Short-term revolving credit and term loans

The short term revolving credit is denominated in RM and bears interest at the rate of the bank's cost of fund plus 2.5%. It is repayable on demand and has a six months' rollover period upon maturity.

The term loans are denominated in RM and bear interest ranging from the rate of the bank's cost of fund plus 2% to 2.5% per annum to base lending rate plus 1% per annum. They are repayable over 6 years after moratorium periods of 3 to 4 years.

The short term revolving credit and term loans are secured by legal charges over the rights to use the long term leasehold land of which the Group has prepaid the lease payments relating to the land as disclosed in Note 14.

17. Convertible bond

		30.6.2011	31.12.2010
	Maturity	USD'000	USD'000
		Unaudited	Audited

USD1 million	18 November 2014	865	-

The unsecured convertible bond of USD1 million, bears a cash interest coupon of 1.75% per annum which is payable semi-annually and has a maturity period of four years. The convertible bond may be converted, in whole only, into 313,383 new ordinary shares of no par value in the Company. This represents a conversion price of 201 pence per share, at any time until the maturity date at the bondholder's election. In the event of non-conversion, the Company shall redeem the convertible bond, in whole, on maturity date such that the amount paid by the Company on redemption results in the bondholder having achieved, in respect of the convertible bond, including coupon payments, an internal rate of return of 10%.

17. Convertible bond (cont'd)

The carrying amount of liability component of the convertible bond at end of reporting period at as follows:

	30.6.2011	31.12.2010
	USD'000	USD'000
	Unaudited	Audited

Face value of the convertible bond	1,000	-
Less: Embedded derivative	(203)	-

Liability component at initial recognition	797	-
Add: Accretion of interest on the convertible bond	68


	865	-

Embedded derivative relating to the conversion option of the convertible bond is recorded as a "fair value through profit or loss" financial instrument with a balance of USD502,000 as at 30 June 2011.

18. Share capital

	30.6.2011	30.6.2011	31.12.2010	31.12.2010
	No. of shares		No. of shares
	'000	USD'000	'000	USD'000
	Unaudited	Unaudited	Audited	Audited

At 1 January 2011 / 1 January 2010	33,445	42,211	29,577	35,459
Issuance during the period/year	7,272	25,752	3,868	6,752
Share issuance expense	-	(1,007)	-	-


At 30 June 2011 / 31 December 2010	40,717	66,956	33,445	42,211

	-	-	-	-

Issuance of shares

On 28 February 2011, the Company has issued an additional 7,272,728 shares amounting to GBP16,000,001 (equivalent to USD25,752,000) via shares placement.

19. Commitments and contingencies

(a) Capital commitments

Capital commitments contracted for at the end of the reporting period but not recognised in the financial statements are as follows:

	30.6.2011	31.12.2010
	USD'000	USD'000
	Unaudited	Audited

Approved and contracted for:
- property, plant and equipment	909	337

Approved and not contracted for:
- property, plant and equipment	647	17,157
- biological assets	5,261	6,546


	6,817	24,040

(b) Contingencies

The Group does not have contingent liabilities as at 30 June 2011 and 31 December 2010.

As lessee

The Group has no operating lease commitments other than the land use rights as mentioned in Note 14.

19. Commitments and contingencies (cont'd)

(d) Finance leases

	30.6.2011		31.12.2010
	Minimum lease payments	Present value of minimum lease payments	Minimum lease payments	Present value of minimum lease payments
	USD'000	USD'000	USD'000	USD'000
	Unaudited	Unaudited	Audited	Audited

Not later than one year	212	164	115	87
Later than one year but not more than five years	712	634	329	287
More than five years	11	11	67	67


Total minimum lease payments	935	809	511	441
Less: Amount representing finance charges	(126)	-	(70)	-


Present value of minimum lease payments	809	809	441	441

20. Related party disclosures

The following are the significant transactions between the Group and related parties (who are not members of the Group) that took place during the financial period ended 30 June 2011 and 30 June 2010 at the terms agreed between the parties, which are conducted at arm's length.

	Six Months Ended	Six Months Ended
	30.6.2011	30.6.2010
	USD'000	USD'000
	Unaudited	Unaudited

Transactions with related parties
- Construction of estate housing	186	200
- Expenses payable	68	51


	254	251

20. Related party disclosures (cont'd)

Compensation of key management personnel

	Six Months Ended	Six Months Ended
	30.6.2011	30.6.2010
	USD'000	USD'000
	Unaudited	Unaudited

Directors' salaries	254	55
Directors' fees	97	15
Short term employee benefits	76	48
Contribution to defined contribution plans	9	6


	436	124

Comprise amounts paid to:
- Directors of the Company	351	70
- Other key management personnel	85	54


	436	124

21. Events occuring after the reporting period

(a) Convertible unsecured bond

On 15 August 2011, the Company has issued convertible unsecured bonds ("Convertible Bonds") amounting to USD2.1 million to an existing shareholder of the Company and other investors. The convertible bond bears a cash interest coupon of 2.50% per annum, repayable semi-annually until the four year maturity in 2015 (the "maturity date"). The Convertible Bonds may be converted, in aggregate, into 434,700 new ordinary shares of no par value in the Company. This represents a conversion price of 294 pence per share, based on the current exchange rate, at any time until the Maturity Date at the individual bondholder's election. This conversion price represents a 17% premium to the closing price on 16 August 2011. In the event of non-conversion, the Company shall redeem all outstanding, non-converted Convertible Bonds, in whole, on the Maturity Date, such that the amounts paid by the Company on redemption result in the bondholders having achieved, in respect of the Convertible Bonds, including coupon payments, an internal rate of return of 10%.

(b) Proposed acquisition of semi-developed plantation land

On 25 August 2011, a subsidiary of the Group has entered into a conditional agreement to acquire 5,000 hectares of semi-developed plantation land (the "Dulit Estate") in Sarawak, Malaysia (the "Proposed Acquisition"). The Dulit Estate, which shares a common border with the Company's Incosetia Estate, consists of planted area of 2,543 hectares with palms that are approximately 3 to 5 years old, with the remainder unplanted. The total maximum consideration for the Proposed Acquisition, which is subject to, inter alia, certain regulatory conditions and potential purchase price adjustments amount to RM102 million (USD34.4 million).

21. Events occuring after the reporting period (cont'd)

On 21 September 2011, a subsidiary of the Group has entered into a conditional agreement for the proposed acquisition of a Malaysian company (the "Proposed Target") for a total maximum consideration of up to US$22 million. The Proposed Target holds a 60 per cent. equity interest in a joint venture company that will have ownership over two distinct land parcels in Sarawak, Malaysia (the "Proposed Acquisition"). The land parcels, the size of which remains subject to a land survey but which the Board estimates to aggregate up to approximately 20,000 hectares, are to be jointly developed pursuant to a joint venture agreement between the Proposed Target and a Sarawak Government-linked entity.

In respect of the Proposed Acquisition, the completion of which remains subject to Board approval, the Company has paid a refundable deposit of RRM7.9 million (US$2.5 million) to the Proposed Target until completion of APL's due diligence exercise, expected to be within two to three months, at which point the Board will decide whether to further pursue the opportunity. In the event that the Board decides to pursue the Proposed Acquisition, APL will seek to secure the required funding via a combination of an equity fundraise and/or a new debt facility. A further announcement will be made in due course.

-END-

This information is provided by RNS

The company news service from the London Stock Exchange

END

IR LIFETAVIAFIL

25-08-11

Asian Plant. Ltd - Proposed Acquisition

RNS

RNS Number : 9595M

Asian Plantations Limited

25 August 2011

Asian Plantations Limited

("APL" or the "Company")

Proposed Acquisition

Asian Plantations Limited (LSE: PALM), a palm oil plantation company with operations in Malaysia, is pleased to announce that it has entered into a conditional agreement to acquire 5,000 hectares of semi-developed plantation land (the "Dulit Estate") in Sarawak, Malaysia (the "Proposed Acquisition"). The Dulit Estate, which shares a common border with the Company's Incosetia Estate, is comprised of a planted area of 2,543 hectares with palms which are approximately 3 to 5 years old and are harvested daily, with the remainder unplanted. It is expected that the Dulit Estate will produce in excess of 22,000 tonnes of fresh fruit bunches ("FFB") in 2012, with a current market sale value in excess of RM 14.3 million (US$4.8 million).

The total maximum consideration for the Proposed Acquisition, which is subject to, inter alia, certain regulatory conditions and potential purchase price adjustments, is RM 102.0 million (US$34.4 million), of which RM 2.0 million (US$0.7 million) has been set aside for community and social investments, as part of the Company's ongoing efforts to ensure social inclusion consistent with its eventual objective of official RSPO certification. The remaining RM 100 million (US$33.7 million) is payable in three tranches:

· a refundable deposit of RM 0.5 million (US$0.2 million), which has been paid;

· RM 89.5 million (US$30.1 million), payable in cash at the time of completion; and

· a further sum of up to RM 10.0 million (US$3.4 million), payable subject to a third party verification of the unplanted area.

Assuming a conservative market value of approximately RM 9,000 (c. US$3,000) per hectare for the unplanted land in the Dulit Estate, the purchase price per planted hectare is approximately RM 31,400 (US$10,600), which the board of APL (the "Board") believes represents a substantial discount to recently transacted, planted parcels in the East Malaysian market.

The consideration is to be funded with RM 71.4 million (US$24.1 million) from a new acquisition debt facility, for which the Company has received an offer letter and will be provided by a local bank in Malaysia (the "Proposed Bank Facility"). As was the case with the Company's two preceding acquisitions, the Proposed Bank Facility will be interest-only for the first three years and have a nine year maturity.

The remainder of the consideration, being RM 30.6 million (US$10.3 million), will be funded from the Company's existing cash balance, which was enhanced by the £16.0 million (US$25.7 million) equity placing undertaken in February 2011 and the US$2.1 million convertible bond issuance announced by the Company on 17 August 2011.

The transaction is expected to close by year-end 2011, subject to certain regulatory approvals and the completion of the Proposed Bank Facility.

The Board intends to commence nursery operations at the Dulit Estate in January 2012, thereby enabling in-the-ground planting to begin in the 4^th quarter of 2012. The Company expects, subject to the availability of sufficient working capital, to fully complete all the in-the-ground planting by the 1^st quarter of 2014.

The Board believes that the Proposed Acquisition offers numerous strategic benefits to the Company, including:

· increasing the scale of the Company's existing operations to approximately 20,645 hectares of plantation land, which achieves the Company's stated objective, made at the time of its admission to trading on AIM on 30 November 2009 ("Admission") of exceeding 20,000 hectares within two years of Admission. Importantly, all of the Company's land resource is within close proximity and can be efficiently serviced by one central processing mill;

· an immediate boost to short term revenues which complements the existing revenue stream from the planted fields at the Incosetia Estate and revenues expected from the BJ Estate in the 4^th quarter of this year. At closing of the Proposed Acquisition, three of the Company's four estates will be revenue producing; and

· providing the Company with further scale to supply its planned FFB crushing mill currently under development. The mill is expected to open in the 4^th quarter of 2012 with an initial capacity of 60 tonnes per hour ("TPH") but is rapidly upgradeable, with minimal further capital expenditures, to 120 TPH in 2014 when the Company's FFB volumes justify the milling expansion. A larger milling operation enables improved economies of scale and allows for better competitive positioning for the processing of third party crop. The principal regulatory approvals required for the construction of the Company's mill were received from the Ministry of Land Development on 10 August 2011.

Graeme Brown, APL's Joint Chief Executive Officer, commenting on the Proposed Acquisition, said:

"The acquisition of the Dulit Estate is a milestone development for the Company and our field development team, as we have successfully achieved the Company's stated objective of owning in excess of 20,000 hectares within two years of Admission.

"We are currently updating our planting schedules but are confident that the remainder of the Dulit Estate can be fully planted by the 1^st quarter of 2014. The Proposed Acquisition, together with our existing assets, should mean the Company has over 10,000 hectares of planted land by year-end 2011; this represents over 1.35 million palm trees, with a 30 year life span, planted in the ground and growing. During the course of 2012, we expect to open our vertical sterilizer mill which will be amongst the largest mill platforms in Malaysia and maintain the momentum in our field planting programme."

Dennis Melka, APL's Joint Chief Executive Officer, added:

"We are excited to have secured this additional parcel of land, which has tremendous operational synergies with our existing estate operations and which are located in close proximity to one another. Through our long standing local relationships and on-the-ground presence, we were able to secure the parcel in a negotiated, non-competitive situation, which demonstrates our continued ability to source acquisition opportunities for the Company, as well as securing attractive local currency bank financing, which we believe creates long term shareholder value.

"Due to the Company's significantly enhanced operating platform and recently strengthened balance sheet, we are well-positioned to consolidate the remaining land resource in our operating area. We believe that the Company now has, subject to the availability of sufficient growth capital, the potential to grow to in excess of 45,000 hectares by the end of 2012. We look forward to updating our shareholders with further positive developments in the weeks and months ahead."

For further information contact:

Asian Plantations Limited

Dennis Melka, Joint Chief Executive Officer

Graeme Brown, Joint Chief Executive Officer

Tel: +65 6325 0970

Strand Hanson Limited

James Harris

Paul Cocker

Liam Buswell

Tel: +44 (0) 20 7409 3494

Panmure Gordon (UK) Limited

Tom Nicholson

Callum Stewart

Tel: +65 6824 8204

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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Date/Time	Subject	Author
Result Pages: 1
26-08-11	Investors Chronicle-Buy....	SpikeyDT


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Asian Plantations breaks 20k barrier Created: 26 August 2011 Written by: Asian Plantations has added to its acreage in Malaysia http://www.investorschronicle.co.uk/Tips/Buy/TipsOfTheWeek/article/20110826/acb7c046-cff1-11e0-9a1d-00144f2af8e8/Asian-Plantations-breaks-20k-barrier.jsp Malaysian palm oil developer Asian Plantations has added a further 5,000 hectares to its estate through the $34.4m (£21m) acquisition of the Dulit Estate, which borders its existing Incosetia Estate. The deal takes Asian Plantations' total land bank to 20,645 hectares, meeting the company's stated objective of building a 20,000 hectare estate within two years of its Alternative Investment Market (Aim) float in November 2009. The Dulit Estate is partly developed with half of its land already planted with three-to-five year-old trees. They should contribute around $4.8m of revenue in 2012. The remainder will be planted by 2014. The deal is being funded by local bank funding and Asian Plantations' own cash reserves and, at $10,600 per planted hectare, the deal has been struck at a significant discount to the prevailing price per hectare in the region, estimated by broker Panmure Gordon to be $24,000. By the end of this year, the company will have 10,000 hectares of producing assets. SHARE TIP UPDATE: Buy Asian Plantations has now set a fresh target of 45,000 hectares under ownership by the end of next year, suggesting further significant acquisition activity in the next 12 months. Buy. More View thread 1 Respond Login to Vote up New enhanced Spread Betting platform. Find out more.
26-08-11	Hardman & Co	SpikeyDT


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AMBITIOUS SARAWAK COMPANY: HARDMAN & CO Thursday, 25 August 2011 08:00 Source: Hardman & Co http://asianplantations.com/en/investor-relations/equityresearch/182--ambitious-sarawak-company-hardman-a-co.html Two things define Asian Plantations: the ambition of its management & its deep local roots. Despite its listing on the AIM of the London Stock Exchange, and its incorporation in Singapore, this is a Sarawak business. It is in Sarawak that it is located, its largest shareholders are local entities and individuals and the business is deeply connected with the business and political circles of the region. Management's ambition is to grow and being local, the business is able to identify attractive opportunities to acquire land ahead of the pack, hence the speed with which APL has been able to build up an estate of more than 20,000 ha and the firm basis for management's new target of taking the estate to 45,000 ha and more by end 2012. With its first mill expected to come on stream at the end of 2012, with the expectation of more than $5m of revenues in the current year, what was merely a paper plan in 2007 is now a business with an enterprise value of £159m and with a likely market value approaching £300m by 2015 when our model indicates the business will produce its first earnings. If you can't view properly, click here to download http://asianplantations.com/mediarelations/equityresearch/2010-10-06-hardman-co.pdf More View thread 1 Respond Login to Vote up
25-08-11	Growth Investor-Robert Tyerman	SpikeyDT


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Asian Plantations ADD 25/08/2011 Robert Tyerman http://www.growthcompany.co.uk/recommendations/1650238/asian-plantations.thtml Malayasia-focused Asian Plantations (PALM) has agreed to buy the 5,000 -hectare Dulit palm oil estate in Sarawak for up to $34.4m (£21.5m). The Singapore-based company, steered by joint chief executive officers Dennis Melka and Graeme Brown, says the estate, which borders its existing Incosetia estate, is as yet half planted with palms that are harvested daily and is expected to produce more than 22,000 tonnes of fresh fruit bunches next year, with a market value of more than $4.8m. AIM-quoted Asian is paying in three tranches, funded by a local bank debt facility and its own cash resources, which were swollen earlier this year by a £16m placing at 220p and a few days ago by a $2.1m (£1.3m) convertible bond issue. The company, which says it expects to close the deal by the end of the year, argues the purchase price for Dulit, at $10,600 per planted hectare and $3,000 per unplanted hectare, represents a significant discount to other recent East Malaysian plantation deals, and takes Asian's total plantation holdings to some 20,645 hectares, more than the 20,000 hectares set as the target for 2011 when the company floated on AIM in 2009. Growth Company Investor recommended Asian Plantations shares at 84.5p last year and later suggested partial profit taking at 245p. They have now reached 252.5p and could go higher in the medium term. Tags: AIM, Dennis Melka, Graeme Brown, Malaysia, Palm oil Sector: Food Producers Companies: Asian Plantations Market cap: £101mPE Forecast: n/a Share price: 252.5p More View thread 1 Respond Login to Vote up New enhanced Spread Betting platform. Find out more.
08-07-11	Ethical issues	Chip_Scashtin


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Not really making a judgement here, although the report did sadden me somewhat. See for yourself the pinko wimpy BBC view of what foreign investment is doing for Malaysia. http://www.bbc.co.uk/news/business-14062536 More View thread 1 Respond Login to Vote up

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Six Months
Ended
30.6.2011

Six Months
Ended
30.6.2010

Number of shares

Number of shares

Weighted average number of ordinary shares for basic and diluted loss per share computation*