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NEWS UPDATES Asean Affairs   19 February 2013  

Malaysia’s Felda Global eyeing plantation land in Indonesia


 RHB Research Institute says Malaysian company Felda Global Ventures (FGV) is close to securing some acquisitions, likely to be upstream plantation land in Indonesia.

“We believe FGV would prefer to buy a combination of greenfield and brownfield land, which would add to earnings immediately and generate positive cashflows,” it said today.

RHB Research said on the downstream front, FGV could be eyeing to expand via collaboration or strategic alliances with partners, and possibly exploring the setting up of downstream plants in China and India.

“Besides this, we believe FGV continues to identify non-core assets (held at FHB level) to divest, which could include its travel, IT, livestock and cocoa businesses, amongst others,” it said.

Following its company visit, RHB Research said FGV's fresh fruit bunches (FFB) production was better than expected for FY12 and estimates were lowered for FY13.

The research house said FGV was also expecting better crude palm oil (CPO) prices in the second half of 2013.

It added that unit production costs were expected to be flattish in FY13. Meanwhile, FGV replanted more than original target in FY12.

As for the downstream refineries, they had started to turn around operationally in Q4, 2012.

“Upstream plantation acquisitions are most likely, while non-core asset divestment and downstream collaborations are being considered,” it said.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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