SEO Version
The acquisition of CMAA enables us to establish our presence in
Brazil, which accounts for over 40% of world sugar exports, and is
also the lowest cost producer. As for RHI, it is the largest integrated
sugar business in the Philippines, which is the third largest sugar
market in Southeast Asia after Thailand and Indonesia.
Through both investments, IndoAgri is now able to develop a
meaningful business in sugar milling and refining, and prepare
itself for the Asean economic integration in 2015, which is
expected to lower tariffs on imported sugar.
To facilitate future investment activities, we established a S$500
million euro medium term note in September 2013 that will allow
us to raise capital readily for new investments and initiatives.
SUSTAINABLE OPERATIONS
Sustainable operations are key to the agriculture industry. As an
agricultural organisation, IndoAgri recognised the significance
and impact of its decisions and operations on the economy,
environment and local communities.
I am very pleased that we have completed our initial assessment
of the material impact of IndoAgri’s oil palm plantations and mills
operations in Indonesia on the environment and issued our first
Sustainability Report in November 2013. This report provides
an important, common platform for us to identify relevant issues
and rally our efforts to build a sustainable business along with our
ongoing community development efforts.
As part of our sustainable CPO effort, audit for RSPO certification
was completed for an additional 30,000 hectares of plantations in
Riau in 2013 with official certificates being processed. IndoAgri’s
certified CPO production is currently at 248,000 tonnes.
PROPOSED DIVIDENDS
For the year ended 31 December 2013, the Board has proposed
a first and final tax-exempt dividend of 0.52 Singapore cents
per share.
ACKNOWLEDGEMENTS
Our enduring growth and profitability did not come by chance.
The company has continued to weather the stormy economic
climate only by the great tenacity and exceptional agility of
our cohesive team. I am proud and appreciative of having the
privilege of working alongside an excellent team of dedicated staff,
stalwart Management and judicious Directors. I am also deeply
appreciative of the support from our customers, partners and
shareholders, whose confidence in us validates our efforts and
motivates us towards excellence and success!
Edward Lee
Chairman
Over the years, we have progressively
expanded our investments into other
agriculture products as part of the
strategy to diversify our business
portfolio, mitigate cyclical risks and
optimise the use of our plantations,
resources and expertise.
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INDOFOOD AGRI RESOURCES LTD • ANNUAL REPORT 2013
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