Global Palm Resources Global Palm Resources

Holdings Limited Holdings Limited FY2009 Results Briefing

2 June 2010

Important Notice

• This presentation (this “Presentation”) has been prepared by Global Palm Resources Holdings Limited

(the “Company”) for information purposes only and has not been independently verified. It is not the

intention to provide, and you may not rely on this Presentation as providing, a complete or

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does not constitute, or form any part of any opinion on any advice to sell, or any offer for the sale or

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• This Presentation may contain projections and forward-looking statements that reflect the Company’s

current views with respect to future events and financial performance, which are based on current

assumptions subject to various risks and may therefore change over time. No assurance can be given

that future events may occur, that projections will be achieved, or that the Company’s assumptions are

correct. Actual results may differ materially from those which may be projected.

• Opinions expressed herein reflect the judgement of the Company as of the date of this Presentation

and may be subject to change without notice if the Company becomes aware of any information or

developments, whether specific to the Company, its business or in general, which may have a material

impact on any such opinions. Additionally, the information contained herein is current only as of the

date of this Presentation and shall not, under any circumstances, create any implication that such

information contained herein is correct as of any time subsequent to the date hereof or that there has

been no change in the financial condition or affairs of the Company since the date herein. This

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2

Corporate Profile

About Global Palm Resources

4

A palm oil producer in Indonesia A palm oil producer in Indonesia

Benefiting both people and the planetBenefiting both people and the planet

Experienced management team

5

Led by Dr. Suparno Adijanto, Executive Chairman and CEO and Thomas

Agap Lim, COO and Executive Director, both of whom are veterans with

approximately 17 years of experience in the oil palm plantation industry

Supported by a team of

executive officers

Experience (approximate)

Ge Luiyanto Yamin

CFO

27 years (Finance and accounting)

Lim Ardi Dharma

Head of Project Development

35 years (Working experience)

Berlino Mahendra

Head of General Affairs

22 years (Licensing matters)

Chua Cheng Hian

Financial Controller

10 years (Finance and accounting)

Cheong Meng Chit

Head of Plantation Estate

38 years (Oil palm plantation

cultivation and field maintenance)

Sofian Masroeddin

Head of Palm Oil Mill

22 years (Working experience)

Corporate milestones

1991 1993 1994 1996 1997 1998 2000 2008 2009 2010

Commenced

palm oil

business in

West

Kalimantan

Received Hak

Guna Usaha

for 5,477 ha

for palm oil

cultivation

Completed mill with

FFB processing

capacity of 40

tons/hour; First sale of

CPO in Dec 1997

Hak Guna Usaha

to 16,079 ha of

land as at

30 Sep 2009

6

Hak Guna

Usaha for

another

10,602 ha

Increased

FFB

processing

capacity to

60 tons/hr

1993-1996: Bulk of

planting, amounting

to approx. 7,000 ha,

including Plasma

Programme, was done

Entered Cooperation

Agreements under the

Plasma Programme in

1996 and 2000

1997-2007: Additional

3,296 ha cultivatedListed on

SGX-ST on 29

Apr:

Received

approval of

RSPO

membership

application

on 26 May

Business overview

7

Office

Office

Plantation and mill

Plantation (Cultivation)Plantation (Cultivation) Mill (FFB Processing)Mill (FFB Processing) ProductsProducts

In West Kalimantan, Indonesia

As at 31 Dec 2009:Total land bank: 16,079 haCultivated land: 11,535 haMature(1) area: 10,300 haAve. FFB yield: 17.5 tons/ha

(1) Mature: Oil palms > 3 years old

Process FFB harvested from Nucleus; purchased from Plasma farmers and from other nearby plantations

FFB processing capability:- 60 tons/hr - 360,000 tons/yr - FY09: 218,203 tons processed

Crude Palm Oil (CPO)Sold to Indonesian palm oil refineries and palm oil bulking facilities; commodity tradersFY09: 46,850 tons produced

Palm kernelSold to Indonesian palm kernel processing plantsFY09: 8,902 tons produced

Office

Land bank

As at 31 December 2009 Area (ha) % of total land bank

Under cultivation 11,535 71.7%

Nucleus 8,701 -

Plasma 2,834 -

Available for future cultivation 4,544 28.3%

Total land bank 16,079 100%

Our plantation is located in Ketapang Regency of West Kalimantan where

climatic conditions are suitable for cultivation of oil palms

(1) “Mature” : oil palms > 3 years old(2) “Immature” : oil palms up to 3 years old

Mature(1)

10,300 ha89.3%

Immature(2)

1,235 ha10.7%

Healthy age profile

9

As at 31 December 2009

Area cultivated First 3 years

(Immature)

4 - 6 years

(Mature)

7 - 18 years

(Prime)

Above 18

years

Total

Nucleus (ha) 1,235 286 7,180 - 8,701

Plasma (ha) - 32 2,802 - 2,834

Total (ha) 1,235 318 9,982 - 11,535

% of cultivated area 10.7% 2.8% 86.5% - 100%

• 86.5% are at peak production stage

• Weighted average age is 12.7 years

• Oldest oil palms about 17 years vs

commercial life span of 25 years

• Age profile enables us to increase

FFB production over the next

several years with minimal

increases in production costs and

capital expenditure

Nucleus

Immature

10.7%

Nucleus

Mature

2.5%

Nucleus

Prime

62.2%

Plasma

Prime

24.3%

Plasma

Mature

0.3%

Focus on Corporate Social Responsibility (CSR)

10

Environmental PolicyEnvironmental Policy Community InitiativesCommunity Initiatives

Sustainable development is

integral

“Zero burning” for planting of new

oil palms

“Zero waste management” on CPO

production waste

• Proposed co-composting method

of treating EFB (empty palm fruit

bunches) and POME (palm oil

mill effluent)

• Reduce methane gases emissions

• Produce organic compost

fertilisers for cultivation of oil

palms

Membership to the Roundtable of

Sustainable Palm Oil

To improve the social and economic

welfare of surrounding communities

Plasma Programme

• Benefiting approximately 1,400 small

landholders as at 31 Dec 2009

Education, social and cultural welfare

• Scholarships for children of local

communities

• Improve living conditions

• Sponsor and participate in various

cultural and religious celebrations

Goodwill and support from local community and

government agencies

• Aligning the Group’s interests with the local communities and

government agencies is crucial to long-term success

• Adopting an employee-centric approach with a view to being

identified as the employer of choice within the local

communities and government agencies

– Improving standard of living in the community through

constructing modern facilities and amenities

– Constructing schools and child-care centres

– Providing utilities for workers on our oil palm plantation

• High employee retention rate

11

Financial Highlights

Rp’ bil FY2009 FY2008 % Change

Revenue 301.5 267.7 +13

Gross profit 101.3 93.1 +9

Gains arising from changes in fair

value of biological assets103.8 63.6 +63

Profit before tax 191.7 98.4 +95

Net profit after tax 152.7 74.1 +106

Profit attributable to shareholders 145.0 70.0 +107

EBITDA 106.8 52.9 +102

Gross profit margin (%) 33.6 34.8 (12)

Net profit margin (%) 50.6 27.7 +23

EBITDA margin (%) 35.4 19.8 +16

P&L highlights

• Higher sales volume of CPO and PK; but lower average selling prices

Segment review

14

FY2009 FY2008 % Chg

Sales volume (tons)

CPO 47,627 36,676 +30

Palm kernels 8,886 7,476 +19

Average Selling Price (Rp/kg)

CPO 5,925 6,611 (10)

Palm kernels 2,176 3,373 (35)

Revenue (Rp’ billion)

CPO 282.2 242.5 +16

Palm kernels 19.3 25.2 (23)

+13%

Revenue (Rp’bil) FY2009 Revenue by products (%)

Rp’ bil FY2009 FY2008 % Change

Total assets 724.2 606.9 +19

Total liabilities (302.3) (317.0) (5)

Current ratio (times)* 0.3 0.4 (23)

Net gearing (%) 26.7% 47.1% (20)

Balance sheet highlights

* Before net proceeds from IPO

Rp’bil FY2009 FY2008

Net cash generated from operating activities 61.3 40.4

Net cash (used in) / generated from investing activities (420.3) (24.7)

Net cash (used in) / generated from financing activities 357.5 (17.6)

Cash on hand and in banks at the beginning of the year 3.9 5.9

Cash on hand and in banks at the end of the year 2.5 3.9

Net increase / (decrease) in cash on hand and in banks (1.5) (1.9)

Cashflow statement

16

Production Highlights

Production Output (tons) FY2009 FY2008 % Change

FFB production 187,226 164,227 +14

Nucleus 130,949 112,790 +16

Plasma 56,277 51,437 +9

FFB processed 218,203 176,974 +23

CPO production 46,850 38,565 +21

Palm kernels production 8,902 8,347 +7

Productivity FY2009 FY2008 % Change

FFB yield (tons/ha) 17.5 15.1 +16

CPO extraction rate (%) 21.47 21.79 (0.3)

Palm kernels extraction rate (%) 4.08 4.72 (0.6)

Production statistics

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• Strong production output

• Healthy productivity

Productivity trend

0

20

40

60

FY06 FY07 FY08 FY09

43.2 39.1 38.646.9

CPO produced ('000 tons)

19

0

10

20

30

FY06 FY07 FY08 FY09

21.8 21.6 21.8 21.5

CPO extraction rate (%)

0

5

10

15

FY06 FY07 FY08 FY09

10.08.2 8.3 8.9

Palm kernels produced ('000 tons)

0

2

4

6

8

FY06 FY07 FY08 FY09

5.04.5 4.7

4.1

Palm kernels extraction rate (%)

• CPO production increased

• Extraction rate maintained

As at 31 December FY2009 % of total FY2008 % of total

Nucleus Planted Area (ha) 8,701 75% 8,124 74%

Mature 7,466 65% 7,466 68%

Immature 1,235 11% 658 6%

Plasma Planted Area (ha) 2,834 25% 2,834 26%

Mature 2,834 25% 2,834 26%

Immature - - -

Total Planted Area (ha) 11,535 100% 10,958 100%

Mature 10,300 89% 10,300 94%

Immature 1,235 11% 658 6%

Plantation statistics

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• Additional planting of 577 ha

• 4,544 ha available for future cultivation

Access to land banks suitable for future

cultivation of oil palms

21

Abundance of

arable land in

West Kalimantan

4.1 million ha of

land zoned for oil

palm cultivation(1)

PT Cemaru

(call option)

• Total land

bank with Hak

Guna Usaha:

6,429 ha

• Cultivated

land: 1,384 ha

• Available for

cultivation:

5,045 ha

Available for

future

cultivation:

4,544 ha

Currently under

cultivation: 11,535 ha

(1) Based on the article issued by the West Kalimantan government office entitled “Slow

Investment: Shortage of Palm Seed in West Kalimantan” updated as at 4 March 2008

Industry Outlook and

Business Strategies

22

Continued global and Indonesian domestic demand for palm oil

Expect CPO selling prices in FY2010 to maintain around

FY2009’s level; with PK selling prices in tandem

1. Constant food requirements by world population, particularly in India,

China and other emerging markets in Asia as well as Africa and several

Central and South American countries

2. Usage of palm oil and other vegetables oils in the biofuel industry in

line with global energy demand

3. Global requirements of vegetable oils from oleochemical as well as

compound feed industries.

Strategies and future plans

24

• Intend to cultivate remaining 4,544 ha uncultivated land

bank into oil palm plantations in the next three years

1. Develop uncultivated land bank

• To generate organic compost fertilisers using EFB and POME

• Cost savings from having to purchase fertilizers

• Proposed implementation of GPR-CDM programme to be

registered with the relevant certification body under the Kyoto

Protocol, which entitles accreditation of Certified Emission

Reductions (CERs) for our efforts at reducing methane emissions,

and derive potential revenue from the trading of such CERs

3. Construct Co-Composting Plant

• Intend to double the size of our current cultivated oil palm plantation land

within the next three years

• Acquire other oil palm plantations that are revenue generating

• Targets must have at least 3,000 ha of land under cultivation and at least 4,000

ha of uncultivated land bank in Kalimantan and/or other parts of Indonesia

• Call option to acquire 95% stake in PT Cemaru – to increase uncultivated land

bank by 5,045 ha

2. Acquire plantations & land banks

In Summary

Salient highlights

FY2009 performance

• Revenue �13% to Rp301.5 billion

• EBITDA �102% to Rp106.8 billion

• Profit margins healthy despite lower ASP with EBITDA margin of 35.4%

FY2009 production statistics

• Improved production output (FFB � 14%; CPO � 21% and PK � 7%)

• Improved yield and extraction rate maintained

Plantation

• Strong age profile with 86.5% of our palm in peak production stage

• New planting of 577 ha

Clear growth strategies ahead

• To double land size of our current cultivated oil palm plantation land within

the next three years via organic growth and acquisitions

• Construction of co-composting plan for organic compost fertilisers (cost

savings from having to purchase fertilizers)

Thank you

Q & A session