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Singapore Exchange (“SGX”) welcomes the listing of leading crude palm oil and palm kernel producer, Bumitama Agri Ltd (“Bumitama”), on its Mainboard today, under the stock code “P8Z”.
Incorporated in Singapore in 2005, Bumitama is a producer of crude palm oil and palm kernel with oil palm plantations and mills located in 3 provinces of Indonesia - Central Kalimantan, West Kalimantan and Riau. Bumitama has one of Asia's youngest palm-oil plantations. It aims to continue expanding and improving the operations and product quality of its oil palm plantations to meet global demand for crude palm oil and palm kernel.
Mr. Lim Gunawan Hariyanto, Bumitama’s Executive Chairman and Chief Executive Officer, said, “Bumitama’s listing is an important part of our growth strategy as a young and fast-growing palm oil player. Our strategic move to list on SGX has placed us close to a large pool of international, sophisticated and blue-chip investor base. SGX’s robust regulatory and financial framework ties in well with our firm belief in upholding good corporate social responsibility and corporate governance. Bumitama’s listing in Singapore has attracted strong demand from funds and wealthy investors seeking to tap into the region's prosperous resources sector.
“As one of the few pure upstream plantation players to be listed on SGX, we are confident that Bumitama is well-positioned to benefit from the growing demand for palm oil, anticipated upswing in CPO prices and the vibrant Indonesian economy.”
“We are proud to be Bumitama’s preferred listing partner and we warmly welcome you to the SGX family. Bumitana is now a key member of our strong pool of commodities and resource companies, offering global investors an attractive and wide range of investment options. Bumitama’s listing reinforces SGX’s strength and depth as an international capital-raising centre in this region,” said Mr Magnus Böcker, Chief Executive Officer of Singapore Exchange.
The listing of Bumitama Agri brings SGX’s pool of commodities & resources companies to 30 with a total market capital of over SS$74 billion (US$59 billion).
