JAKARTA: Indonesia's largest listed palm oil producer by area PT Astra agro Lestari Tbk plans to use IDR412 billion-IDR516 billion from it total IDR1.5 trillion capital expenditure to construct four palm oil mills which are predicted to complete next year to develop its business. Astra Agros President Director Widya Wiryawan stated most of the required fund came from internal cash.The company is planning to construct four mills where two will be in South Kalimantan, both scheduled for completion this year. The other two will be in Center Sulawesi and East Kalimantan and are scheduled for completion next year.One mill is predicted to require UD$12 million-US$15 million or IDR412 billion-IDR516 billion (1US$=IDR8,600) with a capacity of 45 tons FFB/hour.Astra Agros Corporate Planning and Investor Relations Yarmanto said the company currently manages 22 palm oil mills that produce a total 1,050 tons FFB/hour.DividendOn their General Meeting of Shareholders, last week, shareholders agreed to use 65% from the total net profit in 2010 to be used as the companys dividend or IDR830 per share.In November 12, 2010, the Astra Groups subsidiary on palm oil sector had distributed IDR190 per share interim dividend. The remaining IDR640 per share is scheduled to be distributed on June 9, 2011.In 1Q 2011, the company booked IDR682.23 billion net profit or sky-rocket 104% than IDR284.2 billion in the same period, last year. However, after the implementation of Indonesian Financial Accounting Standards, it net profit turned into IDR654 billion.PT Woori Korindo Securitiess analyst viewed the company performance quite vulnerable to extreme weather in the second quarter of this year.Bad weather will harm the company as palm oil is quite dependent on the natural conditions.However, he considered the decrease of CPO export markets is mildly affected by downgrade by number of international agencies to a number of commodity export markets. (T05/wiw)

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