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Singapore listed Indofood Agri Resources is headed back over $2 and closer to $3 according to an upgrade issued today by Heffernan Capital Management.

Economist Shayne Heffernan said in a note to traders the ASEAN Agricultural is one of the most undervalued sectors in the World.

Indofood Agri Resources Ltd. announced that the Directors recommend a first and final dividend of SGD0.003 per share tax exempt one-tier (2010: nil) in respect of the financial year ended December 31, 2011, subject to the approval by shareholders at the next AGM to be convened. Date payable -To be announced prior to the date of AGM around end April 2012.

Indofood Agri Resources Ltd (IndoAgri) is a vertically integrated agribusiness company with activities spanning the entire supply chain from research and development, seed breeding, oil palm cultivation and milling, as well as the production and marketing of cooking oil, shortening and margarine. The Company operates in two segments:

Plantations and Edible oils and fats. Plantations segment is involved in the development and maintenance of oil palm, rubber and sugar cane plantations and other business activities relating to palm oil, rubber and sugar cane processing, marketing and selling.

This segment is also involved in the development and maintenance of cocoa, coconut, tea and coffee.

Edible oils and fats segment produces, markets and sells edible oil, margarine, fats and other related products and crude coconut and its derivative products.

Valuation Ratios

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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