TIDMPALM

RNS Number : 0089T

Asian Plantations Limited

07 December 2012

7 December 2012

Asian Plantations Ltd

("Asian Plantations" or the "Company")

Trading Update

The Directors are pleased to announce that the Company's wholly owned subsidiary, Asian Plantations Milling Sdn Bhd, has entered into fresh fruit bunch ("FFB") purchase agreements to acquire, in aggregate, 13,000 tonnes of FFB per month from seven neighbouring estates with effect from 1 January 2013.

Combined with the Company's forecast in-house FFB production of approximately 55,000 tonnes for full year 2013, the Company now expects to produce and sell in excess of 45,000 tonnes of crude palm oil ("CPO") in calendar year 2013 to the various refineries in the Bintulu area.

The Company's mill remains on track to begin operations this month.

Dennis Melka, Joint CEO, commented "We are excited to see the strong desire from smaller neighbouring estates to sell their FFB to the Company's mill. The volume of crop to be processed exceeds all our previous estimates and significantly increases our forward revenue projections. We remain confident that we will secure additional third party FFB production to be processed at our mill and will update shareholders in due course. "

-ENDS-

For further information contact:

 
 Asian Plantations Limited 
  Graeme Brown, Co-Founder & Joint Chief       Tel: +65 6325 0970 
  Executive Officer 
  Dennis Melka, Co-Founder & Joint Chief 
  Executive Officer 
 Strand Hanson Limited 
  James Harris                               Tel: +44 (0) 20 7409 
  James Spinney                                              3494 
  James Bellman 
 Macquarie Capital (Europe) Limited 
  Steve Baldwin                                  Tel: +44 (0) 203 
  Dan Iacopetti                                          037 2000 
 Panmure Gordon (UK) Limited 
  Tom Nicholson                                Tel: +65 6824 8204 
  Callum Stewart                             Tel: +44 (0) 20 7459 
                                                             3600 
 Bankside Consultants 
  Simon Rothschild                           Tel: +44 (0) 20 7367 
                                                             8871

This information is provided by RNS

The company news service from the London Stock Exchange

END

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