GI obal Palm re sources

Global Palm Resources Holdings Limited 4a I FY 2012 Results

February 2OL3

lmportant Notice
a

bal Palm

ources

This presentation (this "Presentation") has been prepared by Global Palm Resources Holdings Limited (the "Compa-ny") for information purposes only and has not been independently verified. lt is not the intention to provide, and you may not rely on this Presentation as providing, a complete or comprehensive analysis of the Company's financial or trading position or prospects. This Presentation does not constitute, or form any part of any opinion on any advice to sell, or any offer for the sale or subscription of, or invitation or agreement to subscribe for, or solicitation of any offer to buy or subscribe for, any securities, nor shall it or any part of it form the basis or be relied on in connection with, any contract or commitment or investment decision whatsoever. This Presentation may contain projections and forward-looking statements that reflect the Company's current views with respect to future events and financial performance, which are based on current assumptions subject to various risks and may therefore change over time. No assurance can be given that future events may occur, that projections will be achieved, or that the Company's assumptions are correct, Actual results may differ materially from those
which may be projected. Opinions expressed herein reflect the judgement of the Company as of the date of this Presentation and may be subject to change without notice if the Company becomes aware of any information or developments, whether specific to the Company, its business or in general, which may have a material impact on any such opinions. Additionally, the information contained herein is current only as of the date of this Presentation and shall not, under any circumstances, create any implication that such information contained herein is correct as of any time subsequent to the date hereof or that there has been no change in the financial condition or affairs of the Company since the date herein. This Presentation may be updated from time to time and the Company does not undertake to post any such amendments or supplements on this Presentation, None of the Company or any of its subsidiaries, affiliates, advisers or representatives shall be responsible for any consequences resulting whatsoever from the use of this Presentation as well as the reliance upon any opinion or statement contained herein, or for any omission herein, Neither this Presentation nor any of its contents may be used, quoted, reproduced or disclosed in any manner by
any other person without the prior written consent of the Company."

h
.\-'j

A palm oil producer in lndonesia

Kota

Malaysia
o Kuala

Bandr Seri Begwan

Sabah

Brunei

\ \
Sumatra

Office
o
Kuching

Office

Singapore

Balikpapan

\ \

Plantation and mill

Office

Sandai

Banjarmasin a

lndonesia

Java

CdD

Plantation (Cultivation)
ln West Kalimantan, lndonesia
As at 31 Dec 2Ot2: Total land bank: L6,079 ha

Mll (FFB Processing)

Process FFB harvested from Nucleus; purchased from Plasma

Products Crude Palm Ol (CPO) Sold to lndonesian palm oil refineries and palm ol bulking faci lities; commodity traders FY t2: 43,414 tons processed
Palm kernel Sold to lndonesian palm kernel processing plants FYI2: 8, L80 tons processed

farmers and from other nearby

pla

ntations

Cultivated land: !3,512 ha Mature(1) area: LL,58L ha Avg FFB yield: 15.9 tons/ha
(1)

FFB process ng

capability:

Mature: Oil palms > 3 yeors old

-60 tons/hr -360,000 tons/yr -FY 12: 198,467 tons processed

P&L hiehlights
Rp' bil
Revenue Gross profit (GP)
(

Palm rces

4QL2
69.9 L7.6

4Qf

Var

To

FYl1
345.6
1_05.9

Var

To

79.2

-12

-3
+L

24.8
79.5

-29 n.m. n.m. n.m.

Loss)/Profit before tax

(110.6) (8e.s) (8s.7)

L45.9
1_09.6

n.m. n.m. n.m.

Net (Loss)/Profit for the period

58.7 55.8

Loss)/Profit attributa ble to shareholders

(

104.3

EBITDA (excluding biological asset gain)

GP margan (%l

8.4 2s.2 n.m.

12.O

1,6.4

-49
-6.1-%pts

88.6

-L0 +1.5%pts n.m.

-L.7%pTs

31.3
74.1,

30.6
31.7

NP margin (%) EBITDA margin (%)

n.m. -8.5%pts

20.6

25.6

. .

Net loss in FY12 due to the loss of Rp116.9 billion from changes in fairvalue of biological assets from the effect of lower CPO prices FYL2 EBITDA remains positive at Rp79.6 bllion and margin is healthy

Segment review
4Ql2 4Q11
Sales volume (tons)

Var

Yo

FYll
42,798
8,048

Yar

Yo

cPo
Palm kernels

10,813

l_1,006

-2

+4
2

2,949

2,098

+4L

Average Selling Price

(np/ke) cPo
Palm kernels

5,825 2,332

6,564 3,332

-LL
-30

7,204 4,630

-3

-38

Revenue (Rp' billion)

cPo
Palm kernels

63.0
6.9

72.2 7.0

-L3
-L

308.3 37.2

+l_

-39

Balance sheet highlights

Rp' bil
-5

Total liabilities
Current ratio (times)
Net Gearine (%l

-1_3

+24

Cash
Rp'bil

flow statement hiehlights

4qL2
22.4

4q11
L9.7
(11..1)

FYl1
54.2

Net cash (used in)/ from operating activities Net cash (used in) / from investing activities Net cash (used in) / from financng activities
Cash on hand and in banks at

(0.6)

(o.s)
276.3

(16.s)

(21.8)

the beginning of the

year/period
Cash on hand and in banks at the end

259.9

263.9 256.3

ofthe year

292.4 banks
2L.2

256.3
(8.0)

Net increase

/ (decrease)

in cash on hand and in

'+

Dividend
Cents 1S$)
0.45 0.4 0.4 0.35
0.3

rces

Palm

0.25 o.2
0.2

," I-'.'
rF.

0.1_6

0.L5 0.L 0.05

0
FY201_0

#.

r
4r,.

FYZOLL

FY2OL2

GI obal Palm
fe

sources

vl

Production output
FFB produced ('000 tons) - Nucleus only
L60

Global Palm fesources

r40 r20
100 80 60 40 20 0
+

135.3 109.6 106.8

23.9 26.2

25.O

34.5

24.2 28.7 24.7 29.3

36'5 41.9 26.1 30.8

1_Q1_02Q1_03Q104Q10

2010

1Q112Q11_3Q1_1_4Q1r201.1 LQL22Q123QL24Q!220L2

FFB yield (tons/ha) - Nucleus only

20 14.7
1_5

15.9 13.2

1_0

3.2 3.5

3.3

4.6

3.0 3.5 3.0 201_0

1Q1_1_2Q1_1_3Q11

3.6

3.2

3'8

4.5

4.9

1Q102Q103Q104Q10

4Qtt20t1.

LQL22QL23Q124Qt220L2
'10

Production statistics

obal Palm

,sources

4QL2 4Q11
Production Output
(Tons)

Var To

FYll
49,55L 9,440
FY

Yar Yo

cPo
Palm kernels

12,684

L2,859
2,487

-T

-L2 -L3

2,496
FY aOLL

n.m

20t2

Itotal

FFB purchased from 3'd party

total FFB purchased from Plasma

Totat FFB produced (Nucleus)

. .

Total FFB produced (Nucleus) rose by 27% (28,500 tons) to 135,31-6 tons inFY20L2 Total FFB purchased from 3rd Party decreased by 83% (60,544 tonsl to t2,428 tons
11

Global Palm resources

I

I'

e f e fr
!

Plantation Statistics

il

Plantation statistics

Global Palm resources

% of total
Total Planted Area (ha) Mature
lm matu re

FYll

% ol total

. . . .

Total land bank L6,079 ha New planting of 40 ha in 4QI2 Total of 331 ha planted in tYL2 2,567 ha available for future cultivation

13

Healthy age profile

As at 31 Dec 2OL2

Area cultivated
Nucleus (ha) Plasma (ha)

First 3 years

4 - 6 years

7 - Lg years

(lmmature)

(Mature)

(Prime) 6,163 2,526

8,689

Above 18 years
1,303

Total

r,931
45

r,026
209
1.,235

!0,424
3,088 13,512

308
1,61.',J,

Total (ha)
%

1,976
1.4.6%
Plasma lmmature

ol cultivated area

9.2%
Plasma Old
2.3%

643%

tt.9%

r00%

o3%
Plasma Mature

t.s%

l.
l+

Nucleus Mature
7.6%

14

GI obal Palm re sources

+

(
a

. .

lndustry Outlook and

Business Strategies

Palm Oil lndustry Overview

bal Palm

ources

High level of stockpiles in Malaysia and lndonesia Strong palm ol output growth from favourable weather

. . .
Y

Pricing differentials between CPO vs soybean oil and crude oil Attractive export tax regulations Continued demand for food-driven uses, industrial applications, bio-diesel demand from Europe and US, and China inventory building. Projected stronger growth for emerging markets in 20L3

"Palm oil may climb 16 percent n 2013 as China and lndia rebounds..... lndonesia may increase palm productionS.T percent [in 2013] to 28 milfion tons from 2Ot2.:'*

*source: Gapki (http://www.bloomberg.com/news/prinTl2O!3-O2-07lpalm-oil-seen-advancing-16-by-year-end-as-china-india-recover.html)

Strategies And Future Plans

Palm rces

Develop uncultivated land bank . Land location permit obtained for 7,170 ha of land in East Kalimantan
,

Co-Composting plant . Yielding cost savings from use of organic compost fertilisers from our plantation's and POME

EFB

Actively pursue potential acquisitions targets

Continue to exercise prudence in expenditures

17

Average Selling Prices (Rp/Kg)

r CPO r
Palm kernels

Global Palm resources

5,825

32

1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 rQ12 2Q12 3Q12 4QL2
o

We expect CPO prices to be volatile given the uncertanty of the global economy and abnormal weather's impact on market dynamics

Global Palm resources

I c

!-,

ln Summary

tl

Salient highlights
FYL2 performance

. o
"r
q

Revenue down 3% to Rp333.6 bllion, largely due to lower PK sales

lmpacted by net loss of Rp116.9 billion from changes in fair value of biological assets, resulting from lower CPO prices

i.

. o
FY

still healthy at Rp79.6 billion ross profit margin healthy at 32.L%

EBITDA

. o . . .

L2 prod uction statistics Stable extraction rates for CPO and PK

lmproved

FFB

yield of

1-5,9

tons/ha

Plantation
Strong age profile with 64% of our palm in peak production stage New planting 331 ha in FYL2 2,567 ha available for future cultivation

To expand our operations via organic growth and acquisitions

Global Palm resources

Global Palm

resources

Thank you Q & A session

nd the

pte

Ptanet