2.0 COMPANY BACKGROUND

2.1 Company Information

Genting Plantations Berhad ("Genting Plantations"), a 54.60% owned subsidiary of

Genting Group, is one of the fastest-growing plantation companies listed on the Main

Market of Bursa Securities. Genting Plantations incorporated in Malaysia on 29

September 1977, Genting Plantations was listed on Bursa Securities on 30 August 1982.

At 29 February 2012, it had a market capitalization of RM7.1 billion (US$2.4 billion).

Genting Plantations currently has about 133,000 hectares of plantation land

(compared to 41,000 hectares in 2000) in Malaysia and Indonesia. Since its inception,

Genting Plantations has established itself as a reputable and reliable palm oil producer as

well as one of the lowest-cost palm oil procedures in Malaysia. To date, the division has

6 palm oil mills and a total land bank of over 71,000 hectares, an expansion of more than

five folds from the 13,700 hectares over 20 years ago. Total milling capacity to date is

255 tons per hour. Whilst the plantation business remains its core activity, Genting

Plantations has also ventured into property development. The first project by Genting

Plantations's property arm, Genting Property Sdn Bhd ("Genting Property"), is the 55-

hectare Genting Cheng Perdana in Central Melaka, which is near the tail-end of

development.

Its second project is the 284-hectare Genting Permaipura in Kedah. Located in the

northern part of Malaysia near the town of Sungai Petani, this comprehensive township

offers a mix of commercial properties, bungalow lots, residential houses and an 18-hole

golf course with a clubhouse, The Genting Permaipura Golf & Country Club.

In the southern state of Johor, Genting Property has two projects: Genting

Indahpura and Genting Pura Kencana Sri Gading. Genting Indahpura is a 7,000-acre

integrated township with a mix of residential and commercial properties located near the

town of Kulai. Easily accessible from major highways, the township is 10 minutes away

from the state’s Senai Sultan Ismail International Airport by car.

Genting Pura Kencana Sri Gading is the newest real estate project from Genting

Property and is located near the town of Batu Pahat. This project can be easily reached

from Malaysia’s most comprehensive highway, the North-South Expressway, and is

located near amenities such as a hypermarket, malls and tertiary institutions.

Genting Plantations has also boldly ventured into the biotechnology industry. In

2007, the company through subsidiary ACGT Sdn Bhd entered into a joint venture with

US-based Synthetic Genomics, Inc. In line with its aim to be a world-class centre of

excellence in genomic science in Malaysia, ACGT is receiving technical assistance from

the highly acclaimed US-based J. Craig Venter Institute to explore the use of genomics-

based techniques to improve yields and profit streams of oil palm.

Company : Genting Plantations Berhad (Genting Group- No. 24706)

Address : 24th Floor, Wisma Genting, Jalan Sultan Ismail, 50250

Kuala Lumpur, Malaysia

Telephone Number : (603) 2178 2288 / (603) 2333 2288

Fax : (603) 2161 5304

E-mail Address : gpbinfo@genting.com

Form of Company : Private Limited Liability Company

Key People : Tan Sri Mohd Zahidi Bin Hj Zainuddin (Chairman)

: Tan Sri Lim Kok Thay (Chief Executive)

Total Lands : 71,000 hectares

Main Activities : Plantation, Property, Biotechnology

Registration Number : 34993-X

Date of Commencement : 29 September 1977

Website : http://www.gentingplantations.com/

2.2 Company History

Genting Plantations Berhad can also name it as Genting Plantations, formerly known as

Asiatic Development Berhad, is one of the fastest growing plantation companies listed on

the main board of the Kuala Lumpur Stock Exchange (KLSE). Incorporated in Malaysia

as a private limited company on 29 September 1977 and it is under the name of Asiatic

Development Sdn Bhd.

It became a wholly owned subsidiary of Genting Berhad ("Genting") on 22

February 1980 to spearhead Genting's plantation business. In April 1980, Genting

Plantations commenced business through the successful acquisition of the Rubber Trust

Group comprising 3 Hong Kong domiciled rubber companies which owned some 13,700

hectares of plantation land in Peninsular Malaysia.

In June 1981, the Ko Rubber Companies, which owned about 10,000 hectares of

plantation land in Peninsular Malaysia. Listed on Bursa Malaysia on 30 August 1982,

Genting Plantations currently ranks amongst the top 10 listed companies in terms of

market capitalization in the plantation sector.

In 1985, Genting Group acquired Asiatic SDC Sdn Bhd, whose plantation

business comprised some 4,000 hectares of oil palm plantation and 20 tons per hour oil

mill. A quick succession of land acquisitions in Sabah ensued for Genting Plantations,

starting with the takeover of Tanjung Bahagia Sdn Bhd in 1988 which owns 8,094

hectares of jungle land, followed by a joint venture arrangement with Land Worthy Sdn

Bhd (now known as Asiatic Tanjung Bahagia Sdn Bhd) in 1989 which added another

4,039 hectares

In a subsequent rationalization of Genting Group's plantation activities, ownership

of ASDC was transferred to Genting Plantations in 1991. The first project by Genting

Plantations's property arm, Genting Property Sdn Bhd ("Genting Property") is the 55-

hectare Genting Cheng Perdana in Central Melaka. Officially launched in October 1993,

the project has turned out to be quite a success with its first phase of single- and double-

storey houses completed and handed over to purchasers about 9 months ahead of

schedule. Since then, 3 other phases have been completed and handed over in good time.

In 1994, Genting Plantations entered into a joint venture with a Sarawak state

agency to establish 30/60 tons per hour palm oil mill in Serian, Sarawak. What followed

next was the launching of the 284-hectare Genting Permaipura project in late 1994.

Located about 10 km from the fast-growing town of Sungai Petani, Kedah, a town poised

to become the commercial/industrial hub of the northern region in Malaysia, Genting

Permaipura comprises commercial and entertainment centres, bungalow lots, residential

houses and shop-offices. Also included in this project is an 18-hole golf course with a 2-

tier driving range which sprawls over 160 acres of prime land against the majestic

backdrop of Gunung Jerai and a clubhouse, The Genting Permaipura Golf & Country

Club.

Between 1991 and 1996, another 5,730 hectares were acquired. With all these

jungle lands fully cultivated, Genting Plantations, with its long term vision to further its

plantation interest, continues to expand its land bank. Since 1999, Genting Plantations

has collaborated with World Wide Fund for Nature ("WWF") in support of its "Partners

for Wetlands") programme to conserve the Kinabatangan floorplains aimed at

rehabilitating and restoring riverine and wetland habitats as wildlife sanctuary and

preservation of biodiversity. The Kinabatangan floorplains will serve as a corridor for

wildlife movement of Borneo flagship species, such as pygmy elephant, orang utan and

proboscis monkey. The Group, noted as the first plantation company to participate in the

programme, has extended its partnership with WWF for another 15 years from 2006.

Notable acquisitions include the 8,830-hectare agricultural land near the Sungai

Tongod and the 5,611-hectare oil palm estate near Bukit Garam in 2001 and 2002

respectively. In May 2004, Genting Plantations has completed yet another acquisition of

some 6,753 hectares of oil palm estates together with 60 tons per hour oil mill in

Kinabatangan, Sabah.

In June 2005, Genting Plantations embarked on its maiden foray into the

plantation business overseas. This expansion of plantation activities in the Republic of

Indonesia is on a joint venture basis with a respectable palm oil producer in the country,

the Sepanjang Group. The Genting Plantations-Sepanjang 70:30 joint venture will

develop some 76,000 hectares of agricultural land into oil palm plantation.

Genting Plantations entered into another joint venture in 2008 to develop 45,000

hectares in Ketapang. Following these recent acquisitions, Genting Plantations's current

land bank is slated to increase to over 186,000 hectares in Indonesia and Malaysia. The

Group continues to be actively working towards adding more. As at 30 April 2009,

Genting Plantations is a 54.7% owned subsidiary of Genting Berhad.

On the international front, the Group is one of the first 14 members of the

Roundtable of Sustainable Palm Oil ("RSPO"), a multi-stakeholder association, whose

primary objective is to promote the production and use of sustainable palm oil through

co-operation within the supply chain and open dialogue with its stakeholders. Genting

Plantations will continue to pursue and adopt good plantation management practices to

uphold the well-being of the environment it operates in.

At present, Genting Plantations owns 6 oil mills, one in Peninsular Malaysia,

which attained the ISO 9002(1994) Quality Management Systems status in 2001 (which

was subsequently updated to the ISO 9001(2000) in 2002) and the others in Sabah. To

date, the division has 6 palm oil mills and a total land bank of over 71,000 hectares, an

expansion of more than five folds from the 13,700 hectares over 20 years ago. Genting

Plantations is actively involved in environmental conservation and committed to

sustainable development of oil palm cultivation.

2.3 Company Vision

Genting Plantation Sdn Bhd strives:

To become a leader in the plantation industry.

To embark aggressively onto value-added downstream manufacturing activities

which are synergistic to our core business.

To enhance return on the company land bank through property development

activities.

To adopt a market-driven and customer-oriented approach, with emphasis on

product quality and diversity.

To strengthen our competitive position by adopting new technologies and

innovations.

As people are the key to achieving the company's vision, Genting Plantation is always

committed to develop their employees and create a highly motivating and rewarding

environment for them.

2.4 Company Mission (Genting Group)

Genting Plantation Sdn Bhd will:

Be responsive to the changing demands of our customers and excel in

providing quality products and services.

Be committed to innovation and the adoption of new technology to achieve

competitive advantage.

Generate a fair return to our shareholders.

Pursue personnel policies which recognize and reward performance and

contributions of employees and provide proper training, development and

opportunities for career advancement.

Be a responsible corporate citizen, committed to enhancing corporate

governance and transparency.

2.5 Company Logo

2.6 Company Principal Activities

The principal activities of the Company are plantation, investment holding and provision

of management services. The principal activities of the subsidiaries include plantation,

property development and genomics research and development. Details of the principal

activities of the subsidiaries, jointly controlled entities and associates are set out in Note

44 to the financial statements. There have been no significant changes in the nature of

the activities of the Group and of the Company during the financial year.

2.7 Company Governance

Gen. (B) Tan Sri Mohd Zahidi Bin Hj Zainuddin (Chairman)

Gen. (B) Tan Sri Mohd Zahidi bin Hj Zainuddin

(Malaysian, aged 65), appointed on 1 July 2005,

is the chairman of the Genting Plantation Sdn

Bhd. He holds a Masters of Science Degree in

Defence and Strategic Studies from the Quaid-I-

Azam University, Islamabad, Pakistan and had

attended the Senior Executive. Programme in

Harvard University, United States of America in 2002. He is a Fellow of the Malaysian

Institute of Management (MIM). He has had a distinguished career in the Malaysian

Armed Forces for 38 years 11 months, before retiring from the Force on 30 April 2005.

Tan Sri Mohd Zahidi is also a Director of Genting Malaysia Berhad (formerly known as

Resorts World Bhd), Cahya Mata Sarawak Berhad, Affi n Holdings Berhad, Wah Seong

Corporation Berhad, Bintulu Port Holdings Berhad and Bandar Raya Developments

Berhad.Tan Sri Zahidi was made a Member of Dewan Negara Perak, elected by DYMM

Paduka Seri Sultan Perak on 25 November 2006 and also a Director of Yayasan Sultan

Azlan Shah.He was also made a Member of the Malaysian–Indonesian Eminent Persons

Group (EPG) elected by the Prime Minister in July 2008.

Tan Sri Lim Kok Thay (Chief Executive)

Tan Sri Lim Kok Thay (Malaysian, aged 61), appointed on

29 September 1977, is the Chief Executive and Director. He

holds a Bachelor of Science Degree in Civil Engineering

from the University of London. He attended the advanced

management programme of Harvard Business School,

Harvard University in 1979. He is also the Chairman &

Chief Executive of Genting Berhad and Genting Malaysia

Berhad (formerly known as Resorts World Bhd); the Executive Chairman of Genting

Singapore PLC and Resorts World at Sentosa Pte Ltd; and the Chairman of Genting UK

Plc. He is the Chairman and Chief Executive Officer of Genting Hong Kong Limited

(formerly known as Star Cruises Limited), a company listed on The Stock Exchange of

Hong Kong Limited. In addition, he sits on the Boards of other Malaysian and foreign

companies. He joined the Genting Group in 1976 and has since served in various

positions within the Group. He also sits on the Board of trustees of several charitable

organisations in Malaysia. In 2009, he was named “Travel Entrepreneur of the Year

2009” by Travel Trade Gazette (TTG) Asia and “The Most Influential Person in Asian

Gaming 2009” by Inside Asian Gaming for his significant contributions to the leisure and

travel industry.

BOARD OF DIRECTORS

Gen. (B) Tan Sri Mohd Zahidi Bin Hj Zainuddin (Chairman)

Tan Sri Lim Kok Thay (Chief Executive)

Lt. Gen. (B) Dato' Haji Abdul Jamil Bin Haji Ahmad (Indpndnt Non-Executive Director)

Encik Mohd Din Jusoh (Indpndnt Non-Executive Director)

Lt. Gen. (B) Dato' Abdul Ghani Bin Abdullah (Indpndnt Non-Executive Director)

Mr Quah Chek Tin (Indpndnt Non-Executive Director)

Mr Ching Yew Chye (Indpndnt Non-Executive Director)

Mr Lim Keong Hui (Indpndnt Non-Executive Director)

PRINCIPAL EXECUTIVE OFFICERS

Tan Sri Lim Kok Thay (Chief Executive)

Mr Tan Kong Han (Deputy Chief Executive)

Mr Yong Chee Kong (President & Chief Operating Officer)

Mr Tan Wee Kok (Chief Financial Officer)

Haji Abd Halim bin Abd Majid (Executive Vice President, Plantation (Malaysia))

Mr Phang Kong Wong (Executive Vice President, Property)

Mr Derrik Khoo Sin Huat (Chief Executive Officer, ACGT Sdn Bhd)

AUDIT COMMITTEE

Gen. (B) Tan Sri Mohd Zahidi bin Hj Zainuddin (Chairman/ Indpndnt Non-Executive Director)

Lt. Gen. (B) Dato’ Haji Abdul Jamil bin Haji Ahmad (Member/Indpndnt Non-Executive

Director)

Encik Mohd Din Jusoh (Member/Indpndnt Non-Executive Director)

Mr Quah Chek Tin (Member/Indpndnt Non-Executive Director)

Lt. Gen. (B) Dato’ Abdul Ghani bin Abdullah (Member/Indpndnt Non-Executive Director)

REMUNERATION COMMITTEE

Gen. (B) Tan Sri Mohd Zahidi bin Hj Zainuddin (Chairman/ Indpndnt Non-Executive Director)

Tan Sri Lim Kok Thay (Member/Chief Executive)

Lt. Gen. (B) Dato' Haji Abdul Jamil bin Haji Ahmad (Member/Indpndnt Non-Executive

Director)

Encik Mohd Din Jusoh (Member/Indpndnt Non-Executive Director)

SECRETARY

Ms Loh Bee Hong

2.8 Company Structure

2.9 Company Regional Presence

Genting Estate and Mills Location

Plantation Region Oil Mills Region

ASIATIC Bukit Sembilan Estate Kedah ASIATIC Ayer Item Oil Mill Johor

ASIATIC Selama Estate Kedah ASIATIC Sabapalm Oil Mill Sabah

ASIATIC Sepang Estate Selangor ASIATIC Mewah Oil Mill Sabah

ASIATIC Tebong Estate Melaka ASIATIC Tanjung Oil Mill Sabah

ASIATIC Cheng Estate Melaka ASIATIC Trushidup Oil Mill Sabah

ASIATIC Tanah Merah Estate Johor ASIATIC Indah Oil Mill Sabah

ASIATIC Sri Gading Estate Johor Joint Venture

ASIATIC Sungai Rayat Estate Johor Serian Palm Oil Mill Sarawak

ASIATIC Kulai Besar Estate Johor SIS Mulia Estates Kalimantan

ASIATIC Sabapalm Estate Sabah Kapuas Estates Kalimantan

ASIATIC Bahagia Estate Sabah

ASIATIC Tenegang Estate Sabah

ASIATIC Landworthy Estate Sabah

ASIATIC Layang Estate Sabah

ASIATIC Mewah Estate Sabah

ASIATIC Indah Estate Sabah

ASIATIC Permai Estate Sabah

ASIATIC Jambongan Estate Sabah

ASIATIC Sekong Estate Sabah

ASIATIC Suan Lamba Estate Sabah