Plantation Assets Portfolio

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SHARIAH-COMPLIANT PLANTATION ASSETS
AS AT 30 SEPTEMBER 2011

Assets

Titled land
Area (ha)

Tenant

Tenancy period Annual rental Existing use
Date of acquisition
Cost of acquisition
(RM'000)
Last valuation¹
(RM'000)
Carrying value
(RM'000)
%

Bekoh Estate
Located 13 km north west of Tangkak town, Muar, Johor


1,226.1


Boustead Sungai
Manar Sdn
Bhd


3 years

5,369

Cultivation of oil palm plantation

29
December 2006

33,510

49,100

49,566

4.69

Malaya Estate
Located within the precinct of Kubu Gajah, Selama, Perak


922.4


Boustead Silasuka
Sdn Bhd


3 years

1,336

Cultivation of palm oil

29 December 2006

20,770

37,400

38,238

3.62

Kulai Young Estate
Located along Jalan Alor Bukit, 15 km north of Pekan Nenas town, Johor


803.0


Boustead Sungai
Manar Sdn
Bhd


3 years

2,411

Cultivation of oil palm plantation

29 December 2006

40,850

52,800

53,349

5.05

Bukit Mertajam Estate
Located along the Kulim-Mahang main road and Batu Puteh-Labu Besar main Road, Kulim, Kedah


2,173.2


Boustead Silasuka
Sdn Bhd


3 years

8,935

Cultivation of oil palm plantation

29 December 2006

96,970

112,800

112,800

10.65

Batu Pekaka Estate
Located along the Sungai Petani/Baling main road, about 18 kilometres from Sungai Petani town, Kedah


968.7


Boustead Silasuka
Sdn Bhd


3 years

2,800

Cultivation of oil palm plantation

29 December 2006

38,630

45,200

45,472

4.31

Chamek Estate
Located along the eastern side of the train tracks next to Kampung Chamek, Johor


816.9


Boustead Sungai
Manar Sdn
Bhd


3 years

3,665

Cultivation of oil palm plantation

29 December 2006

22,020

42,300

42,344

4.01

Telok Sengat Estate
Located along both sides of the road leading to Telok Sengat village about 28.8 km southeast of Kota Tinggi town, Johor


3,679.5


Boustead Heah Joo Seang Sdn. Bhd.


3 years

15,205

Cultivation of oil palm plantation

29 December 2006

138,590

213,600

214,266

20.29

Telok Sengat Mill
P.O. Box 513, 81909 Kota Tinggi, Johor


19.3


Boustead Heah Joo Seang Sdn. Bhd.


3 years

Rental under Telok Sengat Estate

Processing of palm oil

29 December 2006

8,810

14,623

15,620

1.48
Lepan Kabu Estate
Located at the 75th km post Kota Bharu/ Gua Musang main road, Kuala Krai, Kelantan

2,036.2

Boustead Plantations Berhad

3 years

6,795

Cultivation of oil palm plantation

26
June
2007

67,610

83,500

83,639

7.92
Lepan Kabu Mill
Kampung Kuala Pahi, 18000 Kuala Kerai, Kelantan

8.0

Boustead Plantations Berhad

3 years

Rental under Lepan Kabu Estate

Processing of palm oil

26
June
2007

4,140

4,310

4,310

0.41
Malakoff Estate
Located at Mukim 6, 12 and 13, District of Seberang Perai Utara, Pulau Pinang

1,396.6

Boustead Plantations Berhad

1 year

6,030

Cultivation of oil palm plantation

11 December 2008

100,500

106,000

106,617

10.10
Bebar Estate
Located at Mukim of Keratong, District of Rompin, Pahang

2,340.6

Boustead Plantations Berhad

1 year

5,298

Cultivation of oil palm plantation

11 December 2008

88,300

95,000

98,616

9.34

Taiping Rubber Plantation (“TRP”) Estate
Located along Changkat Jering – Beruas main road, Trong Perak.


1,355.6

Boustead Telok Sengat Sdn Bhd

1 April 2011 till 31 December 2012

3,993*

Cultivation of oil palm plantation

1 April 2011

64,500

64,500

65,183

6.17

Trong Palm Oil Mill
Located along Changkat Jering – Beruas main road, Trong Perak.



Boustead Telok Sengat Sdn Bhd

1 April 2011 till 31 December 2012

Rental under TRP Estate

Processing of palm oil

1 April 2011

24,233

24,233

24,233

2.29

Sutera Estate
Located at Segaliud, KM 60, Sandakan-Lahad Datu Highway, Sabah.


2,200.7

Boustead Rimba Nilai Sdn Bhd

1 April 2011 till 31 December 2012

4,522*

Cultivation of oil palm plantation

1 April 2011

100,500

100,500

101,873

9.64
 
19,948
 
     
849,933
1,045,866
1,056,127
100.00
                   


1. The investment properties were valued by independent professional valuers using the investment (discounted cash flow)
  method. The plantation assets were valued in November and December 2010 by CH Williams Talhar & Wong Sdn Bhd.
   
2. All the above plantation assets are freehold, save and except for:
  --------------------------------------------: Bebar Estate (leasehold for a term of 99 years expiring in 2083)
  --------------------------------------------: 5 lots of Malakoff Estate (leasehold for a term of 61 years expiring in 2027)
   
3. Annual rental for TRP Estate, Trong Palm Oil Mill and Sutera Estate have been pro-rated accordingly.