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Analyst Briefing 07 th March 2012

Analyst Briefing 07 th March 2012. FY 2011 Performance. AGENDA. Share Performance. 1. Group Financial Highlight. 2. Review of Sales Performance. 3. Capital Expenditure. 4. Sugar Market Overview. 5. SHARE PERFORMANCE. SHARE PERFORMANCE. Based on daily closing price.

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Analyst Briefing 07 th March 2012

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  1. Analyst Briefing 07th March 2012 FY 2011 Performance

  2. AGENDA Share Performance 1 Group Financial Highlight 2 Review of Sales Performance 3 Capital Expenditure 4 Sugar Market Overview 5

  3. SHARE PERFORMANCE

  4. SHARE PERFORMANCE Based on daily closing price

  5. GROUP FINANCIAL HIGHLIGHTS FOR THE YEAR ENDED 31 DECEMBER 2011

  6. GROUP FINANCIAL HIGHLIGHTS FINANCIAL RESULTS

  7. GROUP FINANCIAL HIGHLIGHTS FINANCIAL RATIOS

  8. REVIEW OF SALES PERFORMANCE

  9. REVIEW OF SALES PERFORMANCE SALES REVENUE (Y-O-Y)

  10. REVIEW OF SALES PERFORMANCE SALES VOLUME (Y-O-Y)

  11. CAPITAL EXPENDITURE

  12. CAPITAL EXPENDITURE Production and Storage Facilities Expansion Plan

  13. CAPITAL EXPENDITURE Production & Storage Facilities Expansion Plan

  14. SUGAR MARKET OVERVIEW 2011/2012

  15. NY11 PRICE MOVEMENT (2011) NY11 PRICE MOVEMENT (2011) 24 cents/lb • Entire global production growth in 2011/12 is non Brazilian, as producers primarily in Asia - India, Thailand and Pakistan has recorded bumper crops. • The production increase is a response to two years of high prices. • The current surpluses will take slow momentum towards world sugar price and it will not happen within immediate effect. Source: Reuters.net

  16. Global Production Of Raw Sugar Source: Louis Dreyfus Sugar Research

  17. Global Consumption Of Refined Sugar Source: Louis Dreyfus Sugar Research

  18. Global Production & Consumption Balance Higher price in the last 3 years had reduced consumption growth. World surplus rises to 7.8 Million MT in 2011/12E. Source: Louis Dreyfus Sugar Research

  19. Freight / Premium Market • Freight cost remained low even though the demand increased encouragingly. • Cost from North East Brazil and South East Brazil to Malaysia main ports is USD 38 /mt and USD 42 /mt respectively. • Thais and Brazilian premium is relatively low. Source: Reuters.net / Louis Dreyfus Sugar Research

  20. Conclusion • Thailand, India, Pakistan and Russia have played a big part in raw sugar balance for year 2011/12. • Short term – there remains a risk premium factored into the world market prices due to uncertainties over the start date and performance of the CS Brazil Corp. • The market will still be heavily dependent on Brazilian dynamics: production currency fluctuations, domestic sugar and ethanol markets and their policy going forward. • Continued lack of investment in the Brazilian sugar industry could further affect spot prices. Source: Reuters.net / Louis Dreyfus Sugar Research

  21. Q & A

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