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Date : 22 April 2014

OTHERS TH PLANTATIONS BERHAD’S HEADLINE KEY PERFORMANCE INDICATORS

TH PLANTATIONS BERHAD

TypeAnnouncement
SubjectOTHERS
DescriptionTH PLANTATIONS BERHAD’S HEADLINE KEY PERFORMANCE INDICATORS
TH Plantations Berhad (“THP” or “Company”) wishes to announce its performance for financial year (“FY”) ended 31 December 2013 against targets and its headline Key Performance Indicators (“KPIs”) for FY ending 31 December 2014. 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.
These headline KPIs are targets or aspirations set by the Company as a transparent performance management practice. These headlines KPIs shall not be construed as either forecasts, projections or estimates of the Company or representations of any future performance, occurrence or matter as the headline KPIs are merely a set of targets or aspirations of future performance aligned to the Company’s strategy.

Performance of FY2013 Headline KPIs
KPIs
2013
(Target)
2013
(Audited Group Results)
1.
Return On Equity (“ROE”)
6.50%
5.47%
2.
Fresh Fruit Bunches (“FFB”) yield
20.50 mt/ha
23.86 mt/ha
3.
Dividend
To distribute approximately 50% of Group’s Annual PATAMI
First and final single tier dividend per ordinary share of 3.62 sen (subject to shareholders’ approval).

THP Group recorded a sustainable progress in 2013 as we delivered on our commitments to reshape the Group amidst the challenging ambience of the plantation industry. We have exceeded the targeted FFB yield per ha by 16.39% to 23.86 mt/ha and recommended a dividend of 3.62 sen which is in line with THP Group’s sustainable dividend policy of distributing approximately 50% of PATAMI. However, the ROE achieved was 5.47% against a target of 6.50% due to corporate exercises undertaken that involved equity which resulted in a higher shareholders’ fund and softer earnings mainly attributed to lower commodity prices.

Target Headline KPIs for FY2014
KPIs
2014
(Target)
1.
ROE
6.0%
2.
FFB yield
22.40 mt/ha
3.
Dividend
To distribute approximately 50% of Group’s Annual PATAMI

Medium Term Headline KPIs (FY2013- FY2015)

Driven to undertake new and strategic land bank expansions of an additional 30,000 ha to strengthen THP Group’s position as a medium size plantation company.

As at todate, we have acquired 6,514 ha of oil palm plantation in Sarawak translating into 22% of the targeted land bank expansions. Barring unforeseen circumstances, we are optimistic to achieve the target by FY2015.


Commentary of Headline KPIs

We are concentrating on the Key Growth Nodes, the Group-wide business sustainable initiatives in maximizing value from our operations. Moving forward, the Group will remain focused on the sustainable business initiatives aimed to achieve higher FFB yields and Oil Extraction Rate on the back of lower production cost in order to optimize our financial performance.

It is the policy of our Directors in recommending dividends to allow shareholders to participate in the profits of our Group as well as retaining adequate reserves for the future growth of our Group. THP will take into consideration among others the Group’s level of cash, gearing, return on equity, retained earnings, working capital requirements, projected levels 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.

This announcement is dated 22 April 2014


Announcement Info

Company NameTH PLANTATIONS BERHAD  
Stock Name THPLANT    
Date Announced22 Apr 2014  
CategoryGeneral Announcement
Reference NoTP-140311-38642
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