OTHERS: TH PLANTATIONS BERHAD'S HEADLINE KEY PERFORMANCE INDICATORS FOR FINANCIAL YEAR ENDING 31 DECEMBER 2011
TH PLANTATIONS BERHAD |
Type | Announcement | ||||||||||||||||||||||||||||
Subject | OTHERS | ||||||||||||||||||||||||||||
Description | TH PLANTATIONS BERHAD'S HEADLINE KEY PERFORMANCE INDICATORS FOR FINANCIAL YEAR ENDING 31 DECEMBER 2011 | ||||||||||||||||||||||||||||
TH Plantations Berhad ("THP" or "the Company") wishes to announce its performance for financial year ended 31 December 2010 against targets and its Headline Key Performance Indicators ("KPIs") for financial year ending 31 December 2011. These headline KPIs have been set and agreed by the Board of Directors of THP, as part of the broader KPI framework that THP has in place, as prescribed under the Government Linked Companies Transformation Programme, and is disclosed on a voluntary basis. The headline KPIs represent the main corporate targets of THP for the year 2011 and in this respect, please note the following:- These headline KPIs are targets or aspirations set by the Company as a transparent performance management practice. These headlines shall not be construed as either forecasts, projections or estimates of the Company or representations of any future performance, occurence or matter as the headlines are merely a set of targets / aspirations of future performance aligned to the Company's strategy. Performance of FY2010 Headline KPIs
THP Group's FFB production fell short by 4.7% to 20.58 MT per Ha from the targeted FFB yield of 21.60 MT per Ha mainly due to unfavourable weather patterns of hot and dry conditions from El Nino phenomena in the first half year and excessive rainfalls from La Nina phenomena experienced in the second half of the year. Medium Term Headline KPIs (FY2010 - FY2012) We target to expand our land bank to 50,000 ha by 2012 at strategic locations to complement our growth strategy. FY2011 Headline KPIs
Commentary of Headline KPIs 1. We will diligently stay focus on a multi-pronged strategy involving Good Agriculture & Milling Practices and accelerating our replanting with improved high-yielding planting materials. A strong Research & Development team coupled with reliable support management would also ensure a sustainable and balanced growth. 2. It is the policy of THP's Directors in recommending dividends to allow shareholders to participate in the profits of THP Group as well as retaining adequate reserves for the future growth of THP Group. THP will take into consideration among others the Group's level of cash, gearing, return on equity, retained earnings, the availability of tax credits to frank dividends, projected level of capital expenditure, investment plans and its financial position in recommending and determining the level of dividend payments if any, in any particular financial year or period. |
Announcement Info
Company Name | TH PLANTATIONS BERHAD |
Stock Name | THPLANT |
Date Announced | 17 Mar 2011 |
Category | General Announcement |
Reference No | TP-110317-26624 |