Inphyy Corner

Oxley Hldg - ACQUISITION OF LAND IN KUALA LUMPUR, MALAYSIA

info.sgx.com/webcoranncatth.nsf/VwAttach...KLCC.pdf?openelement

IndoAgri - Joint Venture to Invest in Philippines Sugar Industry

The Board of Directors of Indofood Agri Resources Ltd. (the "Company") wishes to announce that the Company has agreed in principle to invest in a wholly-owned subsidiary
of First Pacific Company Limited (“First Pacific”),making it a joint venture between First Pacific and the Company. First Pacific is the majority shareholder of PT Indofood Sukses Makmur Tbk, a controlling shareholder of the Company.

As stated in the First Pacific’s press release issued on 14 November 2013 that the joint venture will invest 34% in Roxas Holdings Inc., the largest integrated sugar business in the Philippines, for ₱2.47 billion (US$57.3 million) or ₱8 per share.

The Company will issue further announcement(s) to update shareholders of the Company on any further developments in relation to this matter.

By Order of the Board of the Company

Moleonoto Tjang
Executive Director
14 November 2013


info.sgx.com/webcoranncatth.nsf/VwAttach...thFP.pdf?openelement

Asiasons - THIRD QUARTER RESULTS * FINANCIAL STATEMENT AND RELATED ANNOUNCEMENT

info.sgx.com/webcoranncatth.nsf/VwAttach...2013.pdf?openelement

AmBank recovers RM15m in exposures from trading 3 SGX stocks

sg.finance.yahoo.com/news/ambank-recover...ading-110006579.html

#Highlight* AMMB: RM40m is ‘right’ for now

sg.finance.yahoo.com/news/highlight-ammb...m-now-011004728.html


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A dark day

Olam PATMI up 6% to S$45.6m even as revenue slides 8%

Performance in line with expectations.

Olam International Limited (Olam) posted 1QFY14 revenue of S$4321.0m, down 8% YoY, reflecting lower commodity prices and also relatively flat sales volume, reported OCBC Investment Research following the release of Olam's latest results.

Nevertheless, EBITDA improved 18% to S$243.0m, aided by margin expansion from upstream and midstream initiatives and also organic growth from core supply chain activities.

As such, PATMI inched up 6% to S$45.6m; estimated core earnings (excluding bio-asset gains) climbed 25% to S$42.7m.

"We judge both revenue and core PATMI to be in line as these met 19% and 12% of our full-year estimates, respectively, with its first quarter being seasonally slower," said OCBC.

Business-wise, Olam noted that most segments "performed well despite the challenging industry environment", and the trajectory of the EBITDA and PATMI growth in 1QFY14 gives Olam further confidence that it will meet its plan targets for FY14.

But OCBC cautions that Olam has recalibrated its measure of profitability from GC (Gross Contribution/MT) and NC (Net Contribution/MT) to EBITDA. Hence, we believe that the market may need more time to digest the new information and track Olam's performance.

Looking forward, Olam plans to execute more sale and leaseback of upstream assets as part of its strategy to generate incremental cashflow, help maintain profitability while enhancing the returns on invested capital. "Recall that it had recently announced the sale and leaseback of its almond plantation assets in Australia for A$200m. Based on its continued efforts to drive higher operating cash-flow generation from existing businesses, unlocking value from past investments, reduced pace of fixed capital investments, Olam believes it is on track to generate positive FCFF for FY14," noted OCBC.

Market integrity is responsibility of all parties

www.businesstimes.com.sg/premium/compani...all-parties-20131115