FGV Annual Report 2014

During the year under review, the Group completed the acquisition of Asian Plantations Ltd (APL), an oil palm plantation group listed on the London Stock Exchange’s Alternative Investment Market (AIM). APL’s brownfield landbank amounts to 24,485.5 hectares, comprising five (5) wholly-owned estates within Miri and Bintulu in Sarawak, which are mostly revenue-generating. All of the APL estates hold the agricultural title certificates, which are the highest form of legal title for plantation companies in East Malaysia under the Land Code. During 2014, APL embarked on several productivity improvement initiatives, which include an improved harvesting and pruning mechanism, better management and estate-profiling through the use of an unmanned area vehicles (UAV). Looking forward Looking ahead to 2015, the Palm Upstream Cluster will continue its efforts in landbank expansion and operational improvement, in order to drive towards the Group's overall strategic priorities. Specifically, we will continue to improve yield through collaboration with the other Clusters and roll-out best management practices in the field. We will boost our crop-age profile by continuing with replanting efforts and expanding our brownfield acquisitions, while maintaining our focus on increasing compliance with RSPO accreditations. Introduction Performance Highlights About FGV Reports Financial Statements Others Strategy and Value Creation Performance Review & Progress Foreword to Shareholders Annual General Meeting Annual Report 2014 pg 71