Olam International

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.


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.


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.

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