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News 27321 to News 27330 of about 28112 news within page 2733
27321. 09/07/2002
   
KUCHING, July 8 (Bernama) -- A crude palm oil refinery complex costingRM50 million will be built at the Kidurong Industrial Area in Bintulu toenhance Sarawak's palm oil industry, said Austral Enterprises Bhd'smanaging director, Dr Radzuan Abdul Rahman.The refinery, which is expected to be in operation in 2004, would beundertaken by a joint venture company, Austral Edible Oil, to be jointlyowned by Austral and Lembaga Amanah Kebajikan Masjid Negeri Sarawak(LAKMNS).
27322. 09/07/2002
   
Monday, July 8, 2002 - PALM oil producing region Sandakan, on the eastcoast of Sabah, is now able to cater for rapid expansion of oil palmplantations and subsequent increase in production following the recentcompletion of the new and better capacity mill, the Sepagaya palm oilmill.The mill, owned by the state’s leading oil palm-based Sawit Group, has amilling capacity of 45 tonnes of fresh fruit bunches (FFB) per hour.It replaces the Suan Lamba mill, which has a smaller operating capacity of20 tonnes per hour.In a statement on Saturday, Sawit Group said the Suan Lamba mill hasceased its operations and all palm oil milling have been taken over bySepagaya mill, effectively making it the sole milling operator in theSandakan region.“The opening of this mill coincides with Sawit Group’s business expansionprogramme for future requirement in crop processing,’’ it said.Sepagaya mill will be capable of milling up to 216,000 tonnes of FFB perannum. The capacity can be expanded to 90 tonnes per hour or 432,000tonnes annually to cater for increase in crop production in the future.Sawit Group is expected to process up to 1.4 million tonnes of FFB thisyear.“With the Sepagaya Mill, oil palm growers within the district also standto reap the benefits of the Sawit Group’s expanding milling activities asfair prices are offered for the harvest coupled with improved facilities,”Sawit said. – Bernama(The informations and opinions expressed in this article represent theviews of the author only. They should not be seen as necessarilyreflecting the views of Palm News)
27323. 09/07/2002
   
Tuesday, July 2, 2002 - KUMPULAN Guthrie Bhd has defended its decision tostake its future in Indonesia as the kind of forward thinking that couldwell double its earnings per share (EPS) in the near future.Its group chief executive officer Tan Sri Abdul Khalid Ibrahimacknowledged that there were investors and shareholders who still viewedthe company’s foray into Indonesia as a folly that had ramped up itsgearing to 1.19 as at March 31.He said it had taken a while for the group to get its 200,000ha Minamasplantations – for which it paid RM1.4bil – into order, but gave anassurance that things were now in order; and should crude palm oil (CPO)prices hold around the US$350 to US$400 level, “Guthrie is poised for avery successful time’’.Khalid said the best EPS the company achieved in the past five yearsamounted to 20.3 sen, in 1997.“With the acquisition (of Minamas), we can target to achieve a two-foldincrease in EPS,’’ he told a briefing for analysts at the group’s officein Bukit Jelutong yesterday,Khalid also pointed out that the contribution from the group’s Indonesianoperations had turned around from a loss of RM37mil in the nine months in2001, to a profit of RM10mil for the first quarter of the year.Guthrie, he said, was now working to accelerate its total crude palm oil(CPO) production to one million tonnes annually from about 500,000 tonnesat present, with the Minamas plantations to contribute about two thirds ofoutput.However, Guthrie, which already has 11 mills in Indonesia, would have toinvest quite considerably in an additional eight to 10 mills over the nextfour to five years to meet its refining needs.But prior to that, it is committed to addressing its total borrowings ofRM2.88bil as at end-March.Khalid said that Guthrie was taking the necessary steps to reduce itsloans to RM2.39bil by the end of 2004, through a programmed disposal ofhigh value properties, such as its recent sale of the Haron Estates toGolden Hope Plantations Bhd for RM565mil, and the proposed sale of a 10%equity in Minamas for US$45mil to US$50mil, plus the sale of Group Acompanies shares for around the same price.(The informations and opinions expressed in this article represent theviews of the author only. They should not be seen as necessarilyreflecting the views of Palm News)
27324. 09/07/2002
   
05 July 2002 (Business Times) - MALAYSIA’s palm oil market expects biggestbuyer, India, to go on a buying spree anytime soon as it stocks upsupplies in anticipation of the Deepavali celebrations in November.
27325. 09/07/2002
   
03 July 2002 (Business Times) - THE world’s first pulp and paper mill thatuses oil palm biomass as feedstock is expected to start operations in thecountry by 2004.
27326. 09/07/2002
   
08 July 2002 (The Star) - SUTRAJAYA Shipping Sdn Bhd, a shipping linecreated by the country’s single largest shipper, Felda, is continuing tomake waves.
27327. 01/07/2002
   
JAKARTA, June 28 (Reuters) - Growth in Indonesia's crude palm oilproduction is seen slowing over the next few years as refining capacityfails to keep pace with the expansion of areas under cultivation, industrysources said on Friday. Refining capacity is already beginning to lagplantation output due to the lack of investment in the expensive refiningsector since the Asian financial crisis of 1997."On the other hand, production of fresh fruit bunches is rising as newtrees planted before and during the crisis mature," Nafis Daulay, chairmanof the Indonesian Edible Oil Industry Association, told Reuters.Indonesia is the world's second largest palm oil producer after Malaysia.The sprawling archipelago's total area under oil palm cultivation isestimated to have gone up to 3.3 million hectares in 2001, from slightlyover two million hectares in 1995, the Indonesian Palm Oil ProducersAssociation said.Indonesia is expected to produce 9 to 9.2 million tonnes of palm oil in2002, compared with 8.3 million tonnes in 2001, it said.Exports were seen rising to 5-5.5 million tonnes, compared to 4.9 milliontonnes in 2001 as Indonesia pushes exports as output exceeds domesticdemand.Industry sources said the shortage of refining capacity was most acute inKalimantan -- the Indonesian side of Borneo island -- and in Sumatra andeastern Indonesia, where many plans to build refineries have been on holdsince the late 1990s.Ethnic conflict in Kalimantan, between indigenous people and migrants, andsecurity problems in Sumatra have also delayed the building of manyfactories."In my estimation, there was around one million tonnes of fresh fruitbunches wasted last year because they could not be processed," said oneplantation owner in North Sumatra.A Jakarta trader said: "When prices are low, smallholder farmers, who donot have their own mills, make no margin by taking their crop to otherpeople's mills so they let the bunches rot."Even the main growing of Sumatra, where around 240 refiners operate, facesa shortage in refining capacity during peak output months.Industry sources say Sumatra has around 2.15 million hectares of matureplantations which yielded some 44-45 million tonnes of fruit bunches lastyear.And in turn they add this amount of oil requires a refining capacity of10,300 tonnes/hour, while current capacity at the refineries is onlyaround 9,640 tonnes/hour.
27328. 01/07/2002
   
06/20/2002 (BusinessWorld) - The Philippines, the world's biggest coconutoil supplier, foresees a 36% drop in coconut oil exports this year due toan expected fall in local copra production.The United Coconut Association of the Philippines, Inc.'s (UCAP) revisedcoconut industry forecast shows that coconut oil exports is expected toreach only 900,000 metric tons in 2002. This is 36.1% lower than lastyear's export volume of 1.407 million metric tons.UCAP is the umbrella organization of local coconut oil millers, refinersand traders."Production deficit anticipated for 2002 will correspondingly reduce coprasupply for coconut oil milling and consequently, coconut oil volume forthe export market,"UCAP said.It also said preliminary data show coconut production for 2002 isanticipated to drop significantly to 2.161 million metric tons (in copraterms), down 23.6% from last year's all-time high of 2.828 million metrictons.The decline is due to two successive years of heavy fruiting at above-normal levels, which has stressed coconut trees and resulted in a declinein copra deliveries.Despite the uptick in coconut oil prices in the world market, the declinein export volume will continue to dampen export revenues.UCAP said revenues from coconut oil exports will continue to decline to$310.05 million, down 24.7% from last year's revenues pegged at $411.52million.The group also said it expects coconut oil prices to average $345 per tonof coconut oil, or 17.8% higher than last year's $292 per ton. Wirereports, however, show that coconut oil prices have gone up to $430 perton in the world market.UCAP, however, stressed that improved price levels during the year willnot offset the decline in revenues.For the first semester ending in June, UCAP expects coconut oil exports toreach only 465,000 metric tons, down 33.5% from 698,851 metric tons in thesame period last year.In the second semester, coconut oil exports are expected to reach only435,600 metric tons, posting a sharp 38.6% decline from 708,769 metrictons a year ago."The trend was based on the rainfall pattern in 2001 which showedbelow-normal levels in the second semester in many areas particularlyduring the latter part of the year. This export trend is replicated insubsequent projections for other products namely, copra, copra meal anddesiccated coconut,"UCAP said in its revised forecast report.BusinessWorld earlier reported that preliminary data from UCAP show thatfor May, total coconut oil exports totaled 81,950 metric tons, declining44.79% from 148,442 metric tons shipped abroad in the same month lastyear.Industry sources said the continued slowdown in copra production causedthe sharp drop in coconut oil exports, which may continue for the rest ofthe quarter.The UCAP revised report also said that with the expected decline in localcoconut production this year, other coconut exports such as copra, coprameal, desiccated coconut and oleochemicals are also expected to decline involume."With projected output in 2002 declining, export is likewise forecast todrop by 31.6% to 1.665 million metric tons from last year. A shortfall inrevenue is likewise expected for the year with total export valueamounting only to $404.72 million, down by 21% from last year,"it said.UCAP said it expects the volume of copra exports to decline by 55%, coprameal exports by 31%, and desiccated coconut by 6.5%.
27329. 28/06/2002
   
KUALA LUMPUR, June 26 (Bernama) -- The loan credits incurred outstandingby four countries under the Palm Oil Credit and Payment Arrangement(POCPA) now totalled RM542.7 million or US$142.82 million, said he deputyfinance minister, Datuk Dr Shafie Mohd Salleh, Wednesday.The four were Algeria, Iraq, Sudan and Cuba and the government waspursuing the outstanding amounts, he said.
27330. 28/06/2002
   
IPOH, June 27 (Bernama) -- Consumer products-based Yee Lee Corporation Bhdis looking for bigger export markets, especially in Thailand and itsMekong River Delta neighbours, once the Asean Free Trade Area (Afta) comesinto effect next year.Deputy chairman and managing director Lim A Heng said the company washoping that Thailand would liberalise its import duty on palm oil productsnext year.
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ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
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