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Date : 22 April 2013

OTHERS TH PLANTATIONS BERHAD'S HEADLINE KEY PERFORMANCE INDICATORS - ACHIEVEMENT FOR FINANCIAL YEAR ENDED 31 DECEMBER 2012 AND TARGET FOR FINANCIAL YEAR ENDING 31 DECEMBER 2013

TH PLANTATIONS BERHAD

TypeAnnouncement
SubjectOTHERS
DescriptionTH PLANTATIONS BERHAD'S HEADLINE KEY PERFORMANCE INDICATORS -
ACHIEVEMENT FOR FINANCIAL YEAR ENDED 31 DECEMBER 2012 AND TARGET FOR FINANCIAL YEAR ENDING 31 DECEMBER 2013
TH Plantations Berhad ("THP" or Company") wishes to announce its performance for financial year ("FY") ended 31 December 2012 against targets and its headline Key Performance Indicators ("KPIs") for FY ending 31 December 2013. 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 contrued as either forecasts, projections or estimates of the Company or representations of any future performance, occurence 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 FY2012 Headline KPIs

No.
KPIs
2012
(Target)
2012
(12 months Unaudited Group Results)
1.
Return on Equity ("ROE")
19.0%
17.96%
2.
Fresh Fruit Bunches ("FFB") yield
22.07 mt/ha
21.51 mt/ha
3.
Dividend
To distribute approximately 50% of Group's Annual PATAMI
  • A single tier interim dividend of 3.60 sen per ordinary share.
  • A final single tier dividend of 1.00 sen per ordinary share (subject to shareholders' approval).
On the back of challenging operating environment, the total dividend of 4.60 sen is in line with THP Group sustainable dividend policy of distributing approximately 50% of PATAMI (based on the realized profits). However, the Group was unable to achieve the targeted ROE of 19.0% due to the corporate exercises undertaken that involved equity which resulted in a higher shareholders' fund. The FFB yield per ha has also slipped by 2.5% from 22.07 mt/ha to 21.51 mt/ha mainly due to adverse weather factor and biological tree stress that have resulted in a lower cropping pattern similarly experienced nationwide.

Target Headline KPIs for FY2013

No.
KPIs
2013
(Target)
1.
ROE
6.5%
2.
FFB yield
20.50 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 position as a medium size plantation company.


Commentary of Headline KPIs

As a mid-size plantation company, we are focused on consolidating our enlarged plantations by improving the efficiency and productivity to strategically position THP Group in staying relevant and competitive in the highly challenging market conditions. Moving forward, we are also focus on selective land bank expansions complementing the existing upstream protfolio to support our core plantation business.

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 2013.


Announcement Info

Company NameTH PLANTATIONS BERHAD  
Stock Name THPLANT    
Date Announced22 Apr 2013  
CategoryGeneral Announcement
Reference NoTP-130422-32427
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