Olam International

Olam reorganises, mulls IPO of business units

SINGAPORE (Jan 20): Global food and agri-business Olam International is reorganising its business into two new distinct operating groups focusing on food ingredients and global agri-business.

The revamp is part of the group's new strategic plan set out in January last year and is expected to the group’s portfolio and sharpen its focus. 

It will also enable investors to participate in two diverse themes via potential carve-outs or initial public offerings (IPOs), the group reported on Monday. 

Convergence of ESG standards seen; sustainability can be a business advantage

SINGAPORE (Dec 9): The efforts to promote sustainability in the financial community is gaining momentum. However, companies and their investors continue to debate whether being sustainable is profitable.

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Olam posts 1.5% fall in 3Q earnings to $251 mil on lower operating revenue, higher finance costs

SINGAPORE (Nov 13): Olam International reported earnings of $20.4 million for 3Q19 ended September, a marginal 1.5% decline from earnings of $20.7 million a year ago. 

The weaker bottomline was a result of a higher cost of goods sold, as well as higher net finance costs, depreciation and exceptional losses. 

This translates into earnings per share of 0.2 cents for the quarter, unchanged from 3Q18. 

Sheng Siong wins again; CAO and Olam have highest returns and profit growth respectively

SINGAPORE (Sept 16): Supermarket chain Sheng Siong Group is the overall winner in the commerce sector for the second year running. The company’s return on equity (ROE) of 25.68% made it the leader in this category as well.  

Sheng Siong was founded in 1985 by the Lim family. From just one store, it has grown rapidly, thanks to its focus on keeping the prices of its groceries competitive. As at May, Sheng Siong had a total of 57 stores with a combined retail space of 512,000 sq ft.

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Asia's chocolate bonanza sparks quest for locally grown beans

(Aug 22): Asia's cocoa industry is scouring for ways to boost local bean supplies as the region's chocoholics munch through more candy than ever.

Olam says trade war helped sales to surge

(Aug 15): In a world where many global trading houses have taken a hit from the US-China trade war, a giant food trader in Singapore says the spat has been a boon for them -- at least in grains.

Olam reports 34.5% drop in 2Q earnings to $61.5 mil on higher costs, exceptional losses

SINGAPORE (Aug 14): Olam International reported 2Q19 earnings of $61.5 million, or 1.49 cents per share, down 34.5% from a year ago.

The weaker bottomline came on the back of higher cost of goods sold, depreciation and finance costs and exceptional losses.

Revenue for 2Q19 from goods and services rose 15.7% to $8.6 billion while other income rose 22.6% to $8.5 million but cost of goods rose 19% to $7.9 billion.

Olam announces third palm plantation to achieve RSPO certification

SINGAPORE (May 2): Olam International says its Mouila Lot 3 palm plantation in Gabon has become Roundtable on Sustainable Palm Oil (RSPO) certified.

The 38,363 hectare (ha) palm plantation is managed by Olam Palm Gabon, a joint venture between Olam and the Republic of Gabon, and has a total planted area of 18.272 ha, out of which 18,765 ha of high conservation value (HCV) is being conserved.

The remaining area comprises infrastructure comprises facilities, roads and housing.

The palm oil complex

Consumers and investors in Europe want the palm oil industry to be sustainable. It comes with a cost that is likely to be paid by the oil’s biggest market — Asia. In this first of a two-parter on the industry, we look at the complexities of certification.

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Olam offers to buy Nigeria's Dangote Flour amid focus shift

(Apr 24): Olam International made a cash bid to buy Dangote Flour Mills Plc of Nigeria as the Singapore-based agriculture trader looks to expand in West Africa as part of a rejig of its portfolio.

Olam will offer 130 billion naira ($490 million) for Lagos-based DFM, which is part of the business empire of Aliko Dangote, Africa’s richest man. The price was calculated on a debt-free basis, and will be adjusted to account for net borrowings, the Nigerian company said in a statement on Tuesday.

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