Olam International

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.

Olam 4Q and FY18 earnings fall on absence of exceptional gain, lower PATMI

SINGAPORE (Feb 28): Olam International reported 4Q18 earnings of $75.3 million, down 71.6% from a year ago due to a large exceptional gain of $155.4 million recorded in 4Q17.

Operational PATMI, which excludes exceptional items, was lower by 34.4% y-o-y to $72 million on improved performance from Cocoa, Packaged Foods and Wood Products was offset by lower contribution from Peanuts, Coffee, Rice and Dairy businesses.

For FY18, earnings was down 40.1% to $347.8 million due to the large exceptional gain of $149.2 million in FY17; operational PATMI down 19.7% to $346.6 million.

Olam acquires 85% stake in BT Cocoa, Indonesia’s largest cocoa processor, for $121 mil

SINGAPORE (Feb 26): Olam International, the global food and agri-business, is acquiring Indonesia’s largest cocoa processor, BT Cocoa.

Olam has acquired an 85% share of YTS Holdings for a consideration of US$90 million ($121.4 million). YTS is the 100% owner of PT Bumitangerang Mesindotama (BT Cocoa).

The remaining 15% of shares are to be held by the founding members of BT Cocoa, Piter Jasman and family.

Right timing: STI looks able to break out

SINGAPORE (Feb 1): Although the Straits Times Index moved sideways over the past five trading sessions, the index still looks able to challenge and break out above resistance and its 200-day moving average now at 3,238.

Volume has expanded, and quarterly momentum is on an uptrend. The 50- and 100-day moving averages have made positive cross, which should confirm the ability of the index to break out.

Right timing: STI could break out; Wilmar to strengthen; Olam heading higher

SINGAPORE (Jan 25): The Straits Times Index looks set to challenge and perhaps break out above resistance and its 200-day moving average at 3,245. Volume has expanded, and quarterly momentum looks able to move up into a vertical rise.

Right timing: STI rally may encounter resistance soon

SINGAPORE (Jan 18): The rally by the Straits Times Index may encounter resistance as it approaches its declining 200-day moving average at 3,251. This may occur at a time when short term stochastics is approaching the top end of its range. The 21-day RSI is also near the top end of its range.

Olam reports 14% lower 3Q earnings on coffee, peanuts and commodity financial services

SINGAPORE (Nov 14): Olam reported 3Q18 earnings of $20.7 million, down 14.2% from a year ago against a strong 3Q17, mainly due to lower contribution from coffee, peanuts and Commodity Financial Services (CFS). This brings 9M18 earnings to $272.6 million, down 13.6% y-o-y.

Revenue for 3Q18 rose 23.6% to $8.3 billion on the back of a 66.4% increase in volume traded to 9.7 billion MT. As a result, revenue for 9M18 came in 15.7% higher at $22 billion on the back of a 57.8% rise in volume to 23.3 billion MT.

The 6 biggest SGX-listed agriculture stocks are beating global benchmarks

SINGAPORE (Sept 4): Six of the biggest agriculture-focused stocks listed on the Singapore Exchange (SGX) are beating global agriculture benchmarks so far this year, according to data from Bloomberg and SGX.

Wilmar International, Olam International, Golden Agri-Resources, First Resources, Japfa and Bumitama Agri each have a market capitalisation above $1 billion. As of Aug 27, they have a combined market capitalisation of $35.8 billion.

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