Crude palm-oil futures for November delivery declined as much as 1 percent in Kuala Lumpur yesterday, heading for its first drop in three days. Golden Agri-Resources Ltd. (GGR) , the world’s second-biggest palm-oil producer by sales, sank 3.1 percent to 62.5 Singapore cents. Wilmar International Ltd. (WIL) , the world’s largest palm-oil processor, decreased 1 percent to S$5.04.

Shayne Heffernan maintained a SGD$1 target on Golden Agri-Resources for 2012.

Early this month Golden Agri-Resources (GAR) announced a 172.3 per cent increase in its second quarter net profit to US$179.9 million, up from US$66 million a year ago.

GAR also reported a 120.4 per cent rise in revenue to US$1.6 billion, up from US$726 million in Q2 last year.

The company attributed the growth to sustained production recovery, which resulted in an increase in palm products output.

The production was supported by increased matured plantation area, as well as favourable weather conditions.

Commenting on the results, chairman and CEO of GAR, Franky Widjaja, expressed delight at the turnout and outlook.

He said: “We are optimistic that GAR’s consistency in implementing its best-in-class plantation operations will continue to be one of our strong foundations in delivering long-term shareholders’ value.”

Moving forward, GAR said it will do its best to benefit from the favourable industry outlook for palm oil and gain from the fast growing consumption in highly populated emerging countries such as China and India, as well as demand from substituted and alternative uses of palm oil.

Shayne Heffernan

Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.

Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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Posted by Shayne Heffernan on Aug 24th, 2011and filed underAgriculture, Analysis, Asia, Asia-Pacific Companies, Commodities, Companies, Heffernan Capital Management, Indonesia, Latest News, Palm Oil, Research, Shayne Heffernan, Singapore.You can follow any responses to this entry through theRSS 2.0You can leave a response by filling following comment form or trackback to this entry from your site