Page 17 - ar2012

Two estates and one palm oil mill in Riau achieved RSPO certifcation
for 53,000 tonnes of CPO in 2012. This brings the Group’s total
certifed CPO production to approximately 248,000 tonnes (roughly
28% of 2012’s total CPO output and total oil palm planted area).
Plantation Division: Sugar
In South Sumatra, we expanded our sugar cane estate from 12,255
to 12,333 hectares this year. This was the frst full harvesting season
for our sugar cane plantation in Komering, which started in May
2012. All harvested cane was processed internally at the new 8,000
TCD sugar mill and refnery with annual processing capacity of
1.44 million tonnes. In Central Java, our 3,000 TCD sugar mill and
refnery was expanded to 4,000 TCD in 2Q2012. This has increased
its annual sugar cane processing output from 540,000 tonnes to
720,000 tonnes.
Collectively, around 1.0 million tonnes of sugar cane was processed
in-house in 2012.
Plantation Division: Rubber
As at 31 December 2012, our nucleus rubber estates occupy
approximately 21,802 hectares. In 2012, our rubber production
declined by 8% to 18,000 tonnes principally due to early wintering
which affected the yield of our estates. The production decline was
partly explained by lower purchases from plasma and third parties
due to quality issues.
Edible Oils & Fats Division
This Division has a total annual CPO processing capacity of 1.4 million
tonnes. In 2012, it processed approximately 836,000 tonnes of CPO
(including 65% from our own plantations), a 2% increase over 2011.
Key Corporate Events
Acquisition of Equity Stake in Heliae
Through Lonsum’s wholly owned subsidiary, Agri Investments Pte Ltd,
we acquired a 26.4% equity stake in Heliae Technology Holdings,
Inc. (Heliae), at a consideration of US$15 million on 1 May 2012.
Heliae specialises in the development of technology solutions for the
commercial production of algae for food & feed, fertiliser, chemicals,
pharmaceuticals, cosmetics and fuel.
Proposed Acquisition of CMAA
On 26 January 2013, the Company’s wholly owned subsidiary IndoAgri
Brazil entered into an agreement to acquire a 50% shareholding
interest in Companhia Mineira de Açúcar e Álcool Participações
(CMAA) in Brazil. This proposed acquisition is expected to be
completed in 2Q 2013.
Brazil is a leader in the global sugar and ethanol industry due to its
unique advantages, such as productivity, favourable climate and
abundant land for future expansion. This acquisition will enable
the Group to expand its geographical presence into the sugar and
ethanol industry in Brazil, as well as strengthen the Group’s diversifed
plantation business model.
CMAA was established in 2006 in Brazil and is principally engaged in
the cultivation and processing of sugar cane for the production and
marketing of ethanol and sugar, as well as co-generation of electric
power from sugar cane bagasse. Currently, CMAA operates one mill
in Vale do Tijuco with a total crushing capacity of 3 million tonnes
per year, which was completed in 2011 and can be expanded to
3.8 million tonnes.
Net Profit to Equity Holders
(Rp trillion)
NAV per Share
(Rp)
Indofood Agri Resources Ltd. • Annual Report 2012 15