Carsons Cumberbatch PLC is in discussions to list its oil palm plantation holding company, Goodhope Asia Holdings Ltd (GAHL) in Singapore, according to sources close to the company.
“The company has a strategy to consolidate its oil palm business in South East Asia under a regional plantation holding firm and in line with this, Carsons shed its controlling stakes in some of the oil palm firms (such as Shalimar, Selinsing, Good Hope, Indo Malay and Equity) to GAHL in March. The Carsons board is in discussions to raise money to expand and grow organically, which is to increase/innovate their product line and revenue growth by listing in the Singapore Stock Exchange,” one source told the Sunday Times FT. He said Carsons is discussing to list GAHL next year.
“By listing, the company wants to establish a stronger presence in the palm oil industry in its home base in South East Asia. This is the main reason that Carsons in March brought its Malaysian palm oil businesses under GAHL which is its Singapore subsidiary,” he explained. He also noted that by listing this regional plantation company, Carsons would gain the opportunity to become a fully integrated player within the industry to support the expansion of its current plantation business base. |
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