|Bid||0.1530 x 0|
|Ask||0.1540 x 0|
|Day's range||0.1530 - 0.1580|
|52-week range||0.1270 - 0.3000|
|Beta (5Y monthly)||0.81|
|PE ratio (TTM)||10.27|
|Earnings date||14 Aug 2020|
|Forward dividend & yield||0.01 (3.69%)|
|Ex-dividend date||05 May 2020|
|1y target est||0.21|
LONDON/SINGAPORE, Nov 1 (Reuters) - Palm oil plantation firm Golden Agri-Resources Ltd said it has agreed to take over the sugar trading business of international commodities and energy trader RCMA Group as part of its diversification strategy. The takeover builds on Golden Agri's previous investments in sugar trading in Europe in 2018 and reflects its intention to diversify from being a pure palm player, the Singapore-listed company said in a statement on Friday. "GAR (Golden Agri) has been looking for opportunities to expand our agricultural trading beyond palm oil to create a more diverse base for our business," said Paul Hickman, head of global vegetable oil and oilseeds for Golden Agri.
International commodities and energy trader RCMA Group is to transfer its sugar division to Golden-Agri Resources, effective Friday, a notice to clients seen by Reuters said. "The decision to transfer our sugar business is aligned with RCMA Group's vision to become a diversified group with energy, electricity and consumer goods and services," the notice said. RCMA's sugar division is a leading player in the white sugar containerized trading business.
Palm oil from an illegal plantation inside an Indonesian rainforest home to endangered orangutans has found its way into the supply chains of major consumer brands including Unilever and Nestle, according to a U.S.-based environmental group. A Rainforest Action Network (RAN) investigation showed Asia-based palm oil traders Golden Agri-Resources (GAR) and Musim Mas Group bought oil from two mills that sourced palm fruit from a small, privately-owned plantation on Sumatra island. Palm oil is the world's most widely used edible oil, found in everything from margarine to soap, but has faced scrutiny in recent years from green activists and consumers, who have blamed its production for forest loss, fires and worker exploitation.