Category: Agritech

PLS Plantations profits surge by 411.5% to RM13.3 million

PLS Plantations Berhad today announced a 411.5% jump in their net profit for their third quarter financial performance for the period ended 31 March 2022 (Q3FY2022). The Company recorded a net profit before tax (PBT) of RM16.1 million, 455.1% higher compared to RM2.9 million recorded in the corresponding quarter for the period ended 31 March 2021 (Q4FY2021). PLS Plantations’ net profit after taxation and minority interest (PATMI) in Q3FY2022 came in at RM12.4 million, 416.7% higher than RM2.4 million in Q4FY2021. Total revenue climbed to RM32.1 million, an increase of 169.8% from RM 18.9 million in Q4FY2021. The increase in revenue and PBT were mainly attributed to the improved contribution made from the sales of fresh fruit bunches (FFB), and frozen durian products from international markets, especially China, as well as the collection of progress payment monies generated under the construction arm.

PLS Plantations’ PATMI for the quarter stood at RM12.4 million, 67.6% higher than RM7.4 million recorded in the preceding quarter ended 31 December 2021 (Q2FY2022). However, total revenue recorded in Q3FY2022 saw a drop of 44% to RM32.1 million, compared to RM57.3 million in Q2FY2022. The lower revenue for the period was attributed to the off-peak durian cycle that resulted in lower harvest numbers. Earnings per share (EPS) for the quarter stood at 2.88 sen (fully diluted) compared to 0.58 sen in Q4FY2021.

PLS Plantations’ Executive Vice Chairman, Tan Sri Dato’ Lim Kang Hoo highlighted, “PLS is working hard to continue the strong execution of our turnaround plan in order to meet our targets and aspirations. In addition to diversifying our revenue streams and improving our operational mechanisms, we have been building the organisation’s bench strength by bringing onboard experienced talent from the industry as well as promoting from within, capable members of the company to senior management positions. Growing our staff strength is crucial – to which PLS has been prioritising the hiring of bright, local talent as the Company ventures into other agricultural and cash crops segments.”

Tan Sri Dato’ Lim concluded, “In addition, we have also set the baseline for our sustainability journey and will be working towards rolling out a sustainability framework to guide our business and operations. Since our Silver3 rating from RAM Sustainability, we have established a ESG working committee to further develop and refine our processes and structures as we continue our progress towards becoming the nation’s leading sustainable agrofood company. We remain guided by ESG values as we move towards future proofing the Company whilst supporting our country’s food security goals.”

About PLS Plantations Berhad

PLS Plantations was incorporated in Malaysia in 1987 and was listed on the Second Board of Kuala Lumpur Stock Exchange in 1994. Currently listed on the Main Board of Bursa Malaysia Securities Berhad, PLS and its subsidiaries are involved in the management and operation of forest, oil palm and durian plantations, as well as the processing, distribution and sale of durian products.

Forward-Looking Statements

The statement included in this press release, other than statements of historical facts, are forward-looking statements. Forward-looking statement generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “plan,” “seek,” or “believe.” These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations about future event. There are important factors that could cause our actual results, level of activity, performance, or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statement, including, but not limited to our ability to win additional business. Although we believe the expectations reflected in the forward- looking statements are reasonable, we cannot guarantee future result, level of activity, performance, or achievements. You should not rely upon forward- looking statements as predictions of future events. These forward-looking statements apply only as of the date of this press release; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this release or those that might reflect the occurrence of unanticipated events.

Media Contact:
Cheong Sue Fyenn
Narro Communications
E: suefyenn@narrocomms.com
T: +6016 910 7625

PLS Plantations Berhad: https://plsplantations.my/
PLS Plantations Berhad: 9695 / [BURSA: PLS]

PLS Plantations rated Silver3 by RAM Sustainability

PLS Plantations Berhad today announced their receipt of Silver3 ratings by RAM Sustainability for its principal plantations and trading segments, reflecting some gaps and the early stages of the Company’s ESG practices that are crucial for reforestation and plantation-related sectors.

The sustainability ratings by RAM Sustainability, a leading provider of independent ESG analytics, captures the Company’s corporate sustainability performance based on all the environmental, social and governance (ESG) themes, as well as relevant international and domestic guidelines by Bank Negara Malaysia’s (BNM) Climate Change and Principle-based Taxonomy (CCPT).

PLS Plantations’ Independent Non-Executive Chairman, Tan Sri Nazir Razak said, “This rating sets the baseline for the Company, in providing clear forward strategy in terms of our priorities and focus areas, across our business and operations, especially in areas for improvement. Equally as important, it offers our stakeholders – investors, regulators, business partners, suppliers, and clients – an objective and transparent assessment of our commitment to sustainability and responsibility as a reliable supplier, business partner, and an employer. PLS Plantations is working hard to execute against our strategy towards becoming Malaysia’s leading sustainable, agrofood provider in the coming years.”

RAM Sustainability’s Chief Executive Officer, Promod Dass said, “PLS Plantations is establishing a starting point for its ESG journey by subjecting itself to the rigors of a sustainability rating and positioning that transparency is a priority even though it points to its high ESG risk profile – for this it must be commended, and we look forward to monitor its sustainability progress. We hope that this will set a precedent for more companies to embark on their sustainability journey and aspire to achieve the highest ratings.”

As part of the Company’s turnaround journey, PLS demonstrates strong commitment to expand on its corporate governance framework and policies, especially in areas of sustainability governance, pending a dedicated group-wide framework and policies to govern the Company. As a Public-Private-Partnership (PPP), PLS Plantations’ vision is to contribute to the nation’s food security and positive socioeconomic impact through initiatives in supporting local farmers, specifically the B40 and indigenous communities. The Company commits to produce quality products and services evidenced by the various certifications obtained such as the Malaysian Sustainable Palm Oil (MSPO) Certification for its plantation segment. The Company’s trading business has received Good Manufacturing Practices (GMP), Malaysia Good Agricultural Practices (myGAP), HALAL and Hazard Analysis Critical Control Point (HACCP) certifications, among others and has dedicated policies to manage human resource and human rights including the Good Social Practices Policy, Occupational Safety and Health Policy, Child Labour Policy and Sexual Harassment Policy.

For more information, or to download the complete the PLS Plantation’s RAM Sustainability rating report, please click here. https://www.ram.com.my/pressrelease/?prviewid=5964

About PLS Plantations Berhad

PLS Plantations was incorporated in Malaysia in 1987 and was listed on the Second Board of Kuala Lumpur Stock Exchange in 1994. Currently listed on the Main Board of Bursa Malaysia Securities Berhad, PLS and its subsidiaries are involved in the management and operation of forest, oil palm and durian plantations, as well as the processing, distribution and sale of durian products.

Forward-Looking Statements

The statement included in this press release, other than statements of historical facts, are forward-looking statements. Forward-looking statement generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “plan,” “seek,” or “believe.” These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations about future event. There are important factors that could cause our actual results, level of activity, performance, or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statement, including, but not limited to our ability to win additional business. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future result, level of activity, performance, or achievements. You should not rely upon forward-looking statements as predictions of future events. These forward-looking statements apply only as of the date of this press release; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this release or those that might reflect the occurrence of unanticipated events.

Media Contact:
Cheong Sue Fyenn
Narro Communications
E: suefyenn@narrocomms.com
T: +6016 910 7625

PLS Plantations Berhad: https://plsplantations.my/
PLS Plantations Berhad: 9695 / [BURSA: PLS]

Heartland Solves ‘Traveling Salesman Problem’ To Help Farmers Optimize Planting, Harvesting, & Scouting With ReMap

Heartland has revolutionized plot mapping technology to drive efficiency for farming operations across the world. Their ReMap technology (www.heartland.io/remap-farming-plot-map-online/) will reduce the time, money, energy, and carbon footprint required to farm.

The traveling salesman is a famous mathematical problem that focuses on finding the fastest route between multiple locations. This is a universal problem that can help optimize logistics networks across land, air, and sea. Solving this problem opens the door for Heartland to run mathematical calculations that have never been possible.

With a mathematically perfect plot map, farmers can ensure a reduction in fuel consumption, maintenance costs, and the time necessary to complete their planting, harvesting, and scouting. ReMap is a technology solution to a problem that farmers have faced for more than 12,000 years.

Heartland recently received a $360,000 USDA grant for soil health, carbon sequestration, and regenerative agriculture. This kickstarted a desire for Heartland to drive efficiency across the greater agriculture industry.

Heartland is sitting at the intersection of regenerative farming and sustainable manufacturing. ReMap technology will become a foundational tool to help Heartland drive the adoption of green chemistry across industries.

“Heartland’s team is exploring the different applications of this computing technology to drive new material innovations.” Says Heartland CEO, Jesse Henry. “This technology allows us to create never-before-seen solutions in agriculture, manufacturing, chemistry, and advanced materials.”

Today, Heartland engineers hemp fibers as additives for plastics. The company is working with America’s largest manufacturers and suppliers to integrate high-performance carbon-negative plastic additives into everyday products. The commercialization of Heartland’s biomaterials will allow companies to predictably reduce their carbon footprint without compromising strength, weight, or price.

Heartland’s vision is to become earth’s most sustainable company. Their desire to create efficiency in hemp fiber and the greater agriculture industry has gone far beyond carbon sequestration. Heartland is developing the technology and insurance products to ensure that hemp can be efficiently grown, processed, and utilized.

Creating standards in agriculture technology, insurance, and finance will help to unlock the global distribution of commodity hemp materials. ReMap is a first-of-its-kind agriculture technology that solves an optimization problem from 1930.

“There are mathematical problems that scientists and engineers don’t even bother trying to solve because they are too complex and require too much computation.” Says Tim Almond of Heartland, “This will allow them to solve those problems with ease.”

Large companies are spending billions on new innovations, but they are limited by the amount of time and computing power it takes to run calculations and simulations. The math behind Heartland’s plot mapping technology can help those companies solve these same problems in seconds.

Today, Heartland’s hemp additives are driving sustainable material innovation for many of America’s largest manufacturers and suppliers. Heartland’s technology breakthrough helps them develop a platform that solves some of the most impactful problems for the biggest companies.

About Heartland

Heartland is a material innovation company that engineers hemp fibers as additives for plastics. Heartland’s additives help manufacturers exceed their sustainability mandates without compromising cost and performance. As an industrial hemp material processor, they work with farmers, manufacturers, and their suppliers to commoditize high-performance carbon-negative additives that can be used across various raw material supply chains. Heartland’s products help companies manufacture using stronger, lighter, cheaper, and more sustainable materials. For more information, visit https://www.heartland.io.

RTO of LTKM Berhad via the Acquisition of EMS Business for RM336 Million

  • Company to dispose of existing poultry business for RM158.83 million, with proceeds to be distributed to shareholders as special dividend and capital repayment

LTKM Berhad (LTKM), a leading chicken egg producer, today announced a composite proposal, chiefly to divest the Company’s existing business and venture into the business of providing of electronic manufacturing services (EMS) while at the same time, rectify its non-compliance with the public spread requirement of its shares under the listing requirements of Bursa Securities Malaysia Berhad.

Chai Voon Sun, co-founder and Managing Director of Local Assembly [L] and Executive Chairman of LTKM, Datuk Tan Kok
Wee Thian Song – Co-founder, Executive Director and Engineering Director of Local Assembly; Gurmakh Singh – Co-founder, Executive Director and General Manager of Local Assembly; Datuk Seri Chiau Beng Teik – Executive Chairman of Chin Hin Group Berhad; Chai Voon Sun – Co-founder and Managing Director of Local Assembly; Datuk Tan Kok – Executive Chairman of LTKM; Tan Kah Poh, Kenny – Independent Director of LTKM; Rahman Ali Bin Abdul Wahab – Director of Proven Venture Sdn. Bhd. [L-R]

Executive Chairman of LTKM, Datuk Tan Kok said, “At its core, the proposals seek to reward our shareholders from the proceeds of the disposal of the Company’s existing poultry business while at the same time, allow them to continue participating in the new EMS business following the proposals.”

“The proposed disposal comes amid the challenging operating landscape for the poultry industry brought on by overcapacity, low average selling price of eggs, high raw material prices, difficulty in controlling disease outbreaks in the farms and acute labour shortage. In relation to these challenges, we have also incurred losses in the recent financial years ended 31 March 2020 to 2021 and for the nine-month period ended 31 December 2021. This has affected our ability to pay dividends too.”

“Concurrent with the proposed disposals, we believe the proposed acquisition of the EMS business is an opportunity to create value for our shareholders through a business that is viable and profitable.”

Briefly, the proposals comprise the following inter-conditional steps:
1. Proposed disposal of LTKM’s existing business to Ladang Ternakan Kelang Sdn Bhd (LTKSB) for a total cash disposal consideration of RM158.83 million. LTKSB, which holds 71.6% of the equity interest in LTKM, is also the holding company of LTKM;
2. Proposed special dividend and capital repayment of RM1.1098 per LTKM share totalling RM158.83 million on an entitlement date to be determined;
3. Proposed consolidation of two existing LTKM shares into one LTKM share following the proposed special dividend and capital repayment;
4. Proposed acquisition by LTKM, of 100.0% equity interest in Local Assembly Sdn Bhd (Local Assembly) from Chai Voon Sun, Gurmakh Singh a/l Ajmer Singh, Wee Thian Song, Divine Inventions Sdn Bhd and Proven Venture Sdn Bhd (Vendors) for RM336.00 million to be satisfied through cash of RM100.00 million and the issuance of 393,333,333 new LTKM shares at an issue price of RM0.60 each;
5. Proposed restricted issue of 230.00 million new LTKM shares at an indicative issue price of RM0.60 each, representing 33.1% of the enlarged share capital of LTKM after the proposals to investors to be identified;
6. Proposed exemption to the vendors and persons acting in concert from the obligation to undertake a mandatory take-over offer to acquire the remaining LTKM shares not already owned by them upon completion of the proposed acquisition; and
7. Proposed change of name to “LA Technology Berhad” from “LTKM Berhad”.

The proposed acquisition will result in a significant change in LTKM’s business direction from a producer of chicken eggs to becoming an EMS provider. Local Assembly, an EMS provider, will become a wholly-owned subsidiary of LTKM while the vendors of Local Assembly will become LTKM’s controlling shareholders with a 56.6% equity interest in the Company following the proposed acquisition and proposed restricted issue. By virtue of his shareholding in Divine Inventions, Datuk Seri Chiau Beng Teik, the Executive Chairman of Chin Hin Group Berhad, will become a major shareholder of LTKM.

Under the proposed acquisition, the vendors have provided a profit guarantee for Local Assembly of a minimum profit after tax (PAT) of RM28.00 million for the financial year ending 31 December 2022 or not less than an aggregate of RM50.00 million PAT for both financial years ending 31 December 2022 and 2023. Based on the guaranteed PAT of RM28.00 million for the financial year ending 31 December 2022, the purchase consideration represents a price to earnings multiple of 12 times.

For Chai Voon Sun, co-founder and Managing Director of Local Assembly, the listing of Local Assembly via LTKM means a realisation of 2 decades of hardwork for him and his co-founders and a step forward in the company’s journey of growth and expansion. “This transaction is a major milestone for Local Assembly. We look forward to the next phase of our corporate journey as a listed entity, which will further accelerate our growth as an EMS player, allow us to expand our customer base and product offerings and pursue more opportunities” he adds.

Local Assembly, which started operations in 2000, is a manufacturer of electronic, electrical and plastic injection moulded components, and sub-contract assembler of electrical appliances and equipment. Its principal markets are Malaysia and Singapore. For the financial year ended 31 December 2022, Local Assembly achieved PAT of RM20.06 million on the back of a revenue of RM116.35 million.

The application for the proposals is expected to be submitted to the relevant authorities by the second quarter of 2022. Subject to approvals from relevant parties including Securities Commission, Bursa Securities Malaysia Berhad as well as shareholders of LTKM, the proposals are expected to be completed in the first half of 2023.

M & A Securities Sdn Bhd is Adviser to LTKM for the proposals.

LTKM Berhad: https://www.ltkm.com.my/
LTKM Berhad: 7085 / [BURSA: LTKM] [RIC: LTKM:KL] [BBG: LTKM:MK]

Brawijaya Student Start-up makes Forbes 30 Under 30 List

  • Chickin Indonesia agricultural start-up by students from Brawijaya University

An agricultural start-up initiated by three students from Malang’s Brawijaya University whose app, Chickin, has been downloaded by a thousand farmers across Indonesia, has made the Forbes 30 Under 30 list. According to the founders, the application uses Internet of Things (IoT) and artificial intelligence (AI) to enhance the productivity of farmers by up to 25 percent.

Universitas Brawijaya (UB) in Malang, East Java, Indonesia (ANTARA/ HO/ Universitas Brawijaya)
Chickin, hatched at UB/U.Brawijaya by founders Ashab, Tubagus and Ahmad (Chicken.ID Website / Malang, Indonesia)

The app was developed by agrotechnology student Ashab Alkahfi, who is serving as the President of Chickin, Tubagus Syailendra from international relations, who is serving as CEO/Chief Executive Officer, and Ahmad Syaifullah from information systems, serving as the CTO/Chief Technology Officer.

“Based on initial research, we developed the app in Klaten, Central Java. We built poultry coops as farmers and began our poultry business where we found a number of challenges faced by local farmers. From there, we tried to solve these challenges by means of technology,” Alkahfi explained.

The application allows farmers to control the micro-climate inside chicken coops from a distance. Through the technology, farmers can input data, including daily, sales, and production data, to enhance performance and make it more measurable and at the same time, minimize risks through preventive measures.

The app also offers a number of features for management of the poultry farm, including data and IoT configuration adaptable to climate, temperature and humidity, as well as recording the age of each poultry. Aside from partnering with 14 poultry farms, Chickin has established cooperation with 100 poultry suppliers in the food industry.

Alkahfi said he hopes the app will bring ease to farmers and have a positive impact on them, adding that the farming modernization technology was developed free of charge under Brawijaya University’s Entrepreneur Incubator.

Chickin has seen 22-fold growth in the last 10 months and closed a funding round of Rp35 billion with three global investors. The company is targeting to increase revenue to Rp500 billion by the end of 2022.

So far, Chickin Indonesia is not only assiting one thousand farmers across the nation, but the company is committed to developing the technology to minimize the use of antibiotics for organic chicken through coop micro-climate control and providing training to poultry farmers free of charge to modernize Indonesian poultry farms.

For more information, Chickin Indonesia is online at https://chickin.id/.
Written by: Aria Cindyara, Editor: Rahmad Nasution (c) ANTARA 2022

Cargill is taking a lead in herd nutrition in the largest farm of Don Agro

  • The cooperation includes the introduction of Cargill’s feeding programs and digital solutions.
  • Partnership with Cargill should increase milk yield, improve animals’ health and reduce the cost of feeding rations.

Don Agro International Limited (the Company or Don Agro) and its subsidiaries (collectively the Group), one of the largest agricultural companies based in the Rostov region of Russia, is pleased to announce the cooperation with Cargill, one of the top agricultural companies in the world, that will provide nutrition for the biggest farm of Don Agro.

This collaboration should increase the efficiency of dairy farming at Don Agro through increasing milk yield, improving animals’ health and reducing costs.

An important advantage of working with Cargill is a change in the approach to feeding animals with attention to their need for a qualitative composition of the diet and the amount of feed consumed. The cooperation includes the introduction of Cargill’s feeding programs and digital solutions.

One of them that is called DairyApp makes it possible to audit the farm directly on the tablet, saving all the necessary data that accumulates throughout usage of the application. This allows to track the progress made on all key indicators of the farm and make a detailed and in-depth analysis of the animals.

Cargill’s Dairy Enteligen Premium service is also introduced to automatically collect and analyze data from the milking parlor, herd management and feeding programs, and creates a convenient visual report.

Another IT solution implemented at the Don Agro farm will be the use of the DairyMax ration calculation program, which allows not only the balance of ration based on the needs of the animal but also to predict the result and manage it, depending on the goals.

“We are pleased to cooperate with the largest milk producer in the Rostov region of Russia. We start by providing nutrition for one farm, but when we achieve results there, we are ready to take care of feeding other farms of Don Agro. We look forward to long and fruitful cooperation and believe that the modern technologies offered by Cargill will help our client achieve great results”, said Mr. Jon Lauritzen, Country Director of Cargill in Russia.

The herd at the Don Agro farm in Novoselovka is approximately 1,300 heads of cattle which includes over 650 milking cows. According to preliminary calculations, cooperation with Cargill and transfer to a new nutrition scheme will increase average daily milk yield from 20.5 litres to 23 litres per milking cow.

“We have big expectations for cooperation with such an industry leader on agricultural and food markets. Firstly, interaction with Cargill is a guarantee of high quality. Secondly, the company offered us favorable conditions for cooperation, which significantly distinguished them from other nutrition providers. Novoselovka is the largest of our five farms. Therefore, the synergistic effect of increasing milk yield and optimizing the cost of nutrition should enhance profit”, commented Mr. Marat Devlet-Kildeyev, Chief Executive Officer of Don Agro International.

The Group owns approximately 4,000 heads of cattle which include over 2,200 milking cows. In 2021, Don Agro produced 15.831 million litres of milk. At the same time, the priority of the Company’s management is the efficiency of dairy production through caring for animals’ health.

The Group sells raw milk to dairy processing companies for the production of fresh milk and other high-end processed dairy products. Customers compete for the Company’s raw milk, that’s why Don Agro generally sells it to a single large dairy producer in any given year. Such a supply agreement allows the Group price negotiations on a regular basis based on market conditions.

About Don Agro International Limited
Don Agro is one of the largest agricultural companies in the Rostov region in Russia principally engaged in the cultivation of agricultural crops and production of raw milk. The Group is also engaged in crop production in the Volgograd region in Russia. The Group has a total controlled land bank of 67,340 hectares, of which more than 54,420 hectares are arable land. The Group owns approximately 17,200 hectares of its controlled land bank.

The Group’s operations are principally located in the Rostov region, one of the most fertile regions of Russia, situated close to the Azov and Black Seas and the Don River which house major international ports. The Group’s second operating division in the Volgograd region is located in close proximity to key trading routes including the Volga River. This allows the Group’s customers, who are mainly traders and exporters, to save on transportation costs and, as a result, be able to offer higher prices for the Group’s crops. Within the crop production segment, the Group is primarily engaged in the farming of commercial crops such as winter wheat, sunflower, and corn.

In addition, the Group is the largest milk producer in the Rostov region and owns more than 4,000 heads of dairy cattle which includes approximately 2,200 milking cows.

Issued for and on behalf Don Agro by Financial PR
For more information please contact:
Romil Singh
tech@financialpr.com.sg
Tel: +65 6438 2990, Fax: +65 6438 0064

Don Agro International Limited (the “Company”) was listed on Catalist of the Singapore Exchange Securities Trading Limited (the “Exchange”) on 14 February 2020. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”).

This press release has been reviewed by the Company’s Sponsor. It has not been examined or approved by the Exchange and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr Joseph Au, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg

1982 Ventures backs Indo AgriTrading Marketplace PasarMIKRO

Promoting Market Access & Financial Inclusion for Farmers thru B2B Agri Commodity Platform

1982 Ventures has invested in PasarMIKRO, an Indonesian-based Agri Commodity Marketplace startup that empowers disadvantaged farmers by simplifying transactions for both farmers and traders.

Since their pilot in December 2020 PasarMIKRO has helped farmers to trade and finance the distribution of over 5,000 tonnes of eggs and other commodities. Image Credits: Dien Wong (Co-founder and CEO of PasarMIKRO) with customers.
PasarMIKRO’S app allows farmers and traders an easy way to manage existing trading relationships and discover new traders on the platform. Image Credits: Detik.com.
  • PasarMIKRO has raised funds from 1982 Ventures and prominent angels.
  • PasarMIKRO is an ag-tech startup aiming to disrupt Indonesia’s USD$130B agriculture market by connecting farmers and traders.
  • PasarMIKRO will use the funds to expand its team and to reach out to more farming communities in Indonesia.

PasarMIKRO was founded by former Altermyth co-founder Dien Wong. Since their pilot in December 2020 the company has helped farmers to trade and finance the distribution of over 5,000 tonnes of eggs and other commodities. Despite the effects of the pandemic, Indonesia’s USD$130 billion agriculture market remains one of the top industries ripe for disruption.

Dien Wong states, “PasarMIKRO is looking after Indonesia’s main providers, farmers and traders who are often overlooked. We are transforming the landscape for a more inclusive digital economy. We foresee that with the digitization of the ecosystem, it will enable a scalable future food value chain.”

The Indonesian-based company provides various services for farmers and traders for their daily transactions such as bookkeeping, lending, and marketplace for farmers and the ecosystem to sell their products easily without limitations.

PasarMIKRO has established partnerships with Bank Rakyat Indonesia (BRI), one of Indonesia’s largest banks, and Rabo Foundation, a social fund backed by European agricultural bank Rabo Bank with a mission to give smallholder farmers the prospect of a sustainable future.

Herston Elton Powers, Managing Partner of 1982 Ventures stated, “Unlike other platforms, PasarMIKRO works with the entire supply chain to enable more efficient agricultural financing and transactions. We have not seen an inclusive financing model in Southeast Asia achieve what appears to be such a product-market fit, and begin scaling as early as PasarMIKRO. PasarMIKRO is incredibly capital efficient and has seen impressive disbursement growth since day one.”

Scott Krivokopich, Managing Partner of 1982 Ventures stated, “Indonesia’s agriculture ecosystem is massive and long overdue for modernization. Dien’s decades of experience in game development and time spent in the field with farmers is the driving force behind PasarMIKRO’s impressive growth.”

The funds will be used to expand PasarMIKRO’s team and reach out to more farming communities in Indonesia.

For media enquiries:
dienw@pasarmikro.id

About PasarMIKRO:
PasarMIKRO is a business-to-business aggregated agriculture marketplace with integrated financing facilities. The platform aims to simplify the transaction of farmers and traders in Indonesia’s agriculture market. For more information visit: https://www.pasarmikro.id.

About 1982 Ventures:
1982 Ventures is the leading seed fund investing in fintech startups in Southeast Asia. Our focus makes us the first port of call for fintech founders and the first money in. Our investments include Southeast Asian Open Banking API Platform Brick, Indonesian Personal Finance App Pina, Indonesia’s first Earned Wage Access platform Wagely, Philippine MSME book-keeping app Lista, Vietnam’s leading investment platform Infina, Vietnam’s leading “Buy Now, Pay Later” Fundiin, Vietnam’s Rent-to-Own Home Financing app Homebaseand Singapore’s automated financial data delivery platform Bluesheets.

1982 Ventures is investing in and supporting the best founders to positively impact the future of financial services in Southeast Asia. For more information visit: https://1982.vc.

One more innovative step towards sustainability: Don Agro has started to use sediments from the bottom of lakes to fertilize arable land

Don Agro International Limited (the “Company” or “Don Agro”) and its subsidiaries (collectively the “Group”), one of the largest agricultural companies based in the Rostov region of Russia, is pleased to announce the launch of a joint pilot project with a startup, Octaviana, which produces a new generation of fertilizer called Live Soil(TM).

The main ingredient of this fertilizer is sapropel, also known as bio deposit. This is freshwater organic-rich mud sediment formed from the remains of plankton, water plants, and other marine-dwelling organisms and is the same mud that is used for treatment at balneological resorts. The substance has a complex chemical composition with a broad range of values and is also an efficient and ecologically friendly natural material.

“Our fertilizer is an immunity amplifier and a bio-stimulator for plant growth. It is used as a soil amendment to increase its nitrogen, phosphorous, humus, and microelements’ content and it helps to transfer nutritional elements to plants faster. Sapropel also accelerates plant growth and increases the protein content in wheat”, explained Irina Soloveva, Chief Executive Officer of Octaviana.

She added that Octaviana had recently received a report from the Ministry of Agriculture of the Republic of Angola that indicated faster growth for crops that were treated by Live Soil(TM). Both photos were made on the 42 days after seeds were sown. Plants on the left photo have not been treated with anything while, plants on the right photo were treated by Live Soil(TM).

At Don Agro, seeds of winter wheat that were processed with the Live Soil(TM) have been sown on 210 hectares of arable land.

“We plan to see the result of this pilot project in summer 2022 when we harvest the yields. One of the main benefits of using Live Soil(TM) fertilizers, is that it is basically organic and eco-friendly. Our mission is to be an agricultural company that introduces new technologies to provide a sustainable future for all. Every year we will increase the amount of arable land that is dedicated to no-till farming and organic wheat cultivation. This should help us not only to increase the level of production but also to cut down carbon emissions”, said Ivan Kalaytanov, Chief Agronomist of Don Agro International.

Since the initial public offering in February 2020, the Company had made a number of strategic investments to acquire new machinery and expand facilities in an effort to fuel ongoing growth and sustainable initiatives. In June 2021, Don Agro applied the Cognitive Agro Pilot(TM) autonomous driving system for agricultural machinery to its crop harvesters. This helped to improve productivity and reduce the consumption of fuel and carbon dioxide emissions by 5%.

About Don Agro International Limited

Don Agro is one of the largest agricultural companies in the Rostov region in Russia principally engaged in the cultivation of agricultural crops and production of raw milk. The Group is also engaged in crop production in the Volgograd region in Russia. The Group has a total controlled land bank of 67,340 hectares, of which more than 54,420 hectares are arable land. The Group owns approximately 17,200 hectares of its controlled land bank.

The Group’s operations are principally located in the Rostov region, one of the most fertile regions of Russia, situated close to the Azov and Black Seas and the Don River which house major international ports. The Group’s second operating division in the Volgograd region is located in close proximity to key trading routes including the Volga River. This allows the Group’s customers, who are mainly traders and exporters, to save on transportation costs and, as a result, be able to offer higher prices for the Group’s crops. Within the crop production segment, the Group is primarily engaged in the farming of commercial crops such as winter wheat, sunflower, and corn.

In addition, the Group is the largest milk producer in the Rostov region and owns more than 4,000 heads of dairy cattle which includes approximately 2,200 milking cows.

Issued for and on behalf Don Agro by Financial PR
For more information please contact:
Romil Singh
tech@financialpr.com.sg
Tel: +65 6438 2990
Fax: +65 6438 0064

Don Agro International Limited (the “Company”) was listed on Catalist of the Singapore Exchange Securities Trading Limited (the “Exchange”) on 14 February 2020. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”).

This press release has been reviewed by the Company’s Sponsor. It has not been examined or approved by the Exchange and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr Joseph Au, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg

Heartland Wins USDA Grant to Expand Research on Regenerative Agriculture and Carbon Sequestration

Heartland Industries is proud to announce that their team has secured a grant from the USDA’s Natural Resources Conservation Service (NRCS). Heartland’s ‘Hemp4Soil’ program was selected as the recipient of a $360,000 grant over 3 years to develop their soil innovation program.

This grant will allow Heartland to partner with farming communities to advance research on soil health and carbon sequestration. Heartland’s research will be one of the most sophisticated programs to date that investigates the benefits of industrial hemp on soil health. This research will provide actionable conclusions that will impact the future of farming and regenerative agriculture.

Out of 77 applicants, the NRCS allocated $15 million to conservation partners across the country for 19 new projects under the Conservation Innovation Grants (CIG) program. CIG is a competitive program that supports the development of new tools, approaches, practices, and technologies to further natural resource conservation on private lands. Heartland was the only hemp program chosen by the USDA.

The Hemp4Soil program will quantify the impact of adding hemp and regenerative farming practices into crop rotations. Heartland has already identified farms across 10 states, and has the opportunity to expand their research program to more states for farmers interested in participating.

Heartland and their partner farms will incorporate hemp into a soil health management system that has the potential to positively impact multiple aspects of soil biology including:
– Reducing the need for herbicides, pesticides, and insecticides.
– Reducing the usage of water.
– Increasing the amount of carbon dioxide sequestered in the soil.
– Accelerating soil remediation by removing toxins from the soil.
– Increasing the nitrogen content of the soil.
– Naturally replenishing nutrients that are typically added into soil.
– Increasing the yields of other crops that are grown on the same acreage in following years.

This project will test the impact of hemp and regenerative farming practices on soil that is used to grow traditional row crops like corn, soy, and wheat.

Over the next 3 years, this USDA grant will help Heartland collect earth’s most comprehensive dataset on the impacts that industrial hemp has on soil and carbon sequestration. Eventually, this data will lay the framework for Heartland’s strategic ability to make a significant impact on the developing carbon markets.

About Heartland

Heartland is a biotech company that engineers hemp fibers as additives for plastics. Their team is building America’s first reliable industrial hemp supply chain to provide renewable additives for plastics manufacturers and resin suppliers. As an industrial hemp material processor, they work with farmers and manufacturers to ensure the product consistency of bio-based additives that can be used in raw material supply chains. Heartland’s materials help companies use stronger, lighter, cheaper, and more sustainable plastics. For more information, please visit https://www.heartland.io

Media Contact:
John Ely, CMO
Heartland Industries
john.ely@heartland.io

Amid robust wheat prices, Don Agro International upgraded the winter wheat class of its harvest that commands up to USD5 more per tonne

Don Agro International Limited (the “Company” or “Don Agro”) and its subsidiaries (collectively the “Group”), one of the largest agricultural companies based in the Rostov region of Russia, is pleased to announce that it has upgraded the winter wheat class of its harvest to third class, commanding up to USD5 more per tonne.

With the completion of harvesting works for this year, the Company has harvested 72,300 tonnes of winter wheat as of November 2021, driven by land bank acquisitions and the implementation of innovative technologies.

The upgrade in the Company’s winter wheat class to third class is due to the increase in the content of protein from approximately 12.5% to 13.5%. Not only does the third class of wheat command an increased pricing of USD1.5 to USD5 as compared to the fourth class, the price of the third class of winter wheat reached USD313 per tonne at the end of November 2021 based on the Chicago Board of Trade, representing a 50% year-on-year increase from its price in November 2020. The last time prices of winter wheat were that high was in January 2013.

“The increase in the yield and quality of our products is the result of the consistent development and progress of the Company, which is achieved due to several factors. The first is the renewal of the vehicle fleet as we buy the most modern and productive machines every year. The second, of course, investments in the soil itself – we increase its fertility by applying organic and mineral fertilizers. The third is quality control, for which we also use quadcopters. Fourth, with the introduction of new technologies, we constantly experiment with improving the quality and ultimately the profitability of our operations. Wheat prices have reached an all-time high since January 2013, and therefore we are confident in the future of the Company”, commented Mr. Marat Devlet-Kildeyev, Chief Executive Officer of Don Agro International.

Another direction of the Company’s development is the reduction of environmental impact. Don Agro increases the amount of land on which no-till technology is applied annually and there is more than 7,000 hectares of such land currently. The method effectively eliminates any mechanical impact on the soil, which, among other things, reduces emissions into the atmosphere. The Company plans to expand the no-till area to 8,000 hectares in 2022.

About Don Agro International Limited

Don Agro is one of the largest agricultural companies in the Rostov region in Russia principally engaged in the cultivation of agricultural crops and production of raw milk. The Group is also engaged in crop production in the Volgograd region in Russia. The Group has a total controlled land bank of 67,340 hectares, of which more than 54,420 hectares are arable land. The Group owns approximately 17,200 hectares of its controlled land bank.

The Group’s operations are principally located in the Rostov region, one of the most fertile regions of Russia, situated close to the Azov and Black Seas and the Don River which house major international ports. The Group’s second operating division in the Volgograd region is located in close proximity to key trading routes including the Volga River. This allows the Group’s customers, who are mainly traders and exporters, to save on transportation costs and, as a result, be able to offer higher prices for the Group’s crops. Within the crop production segment, the Group is primarily engaged in the farming of commercial crops such as winter wheat, sunflower, and corn.

In addition, the Group is the largest milk producer in the Rostov region and owns more than 4,000 heads of dairy cattle which includes approximately 2,200 milking cows.

Issued for and on behalf Don Agro by Financial PR

For more information please contact:
Romil Singh
tech@financialpr.com.sg
Tel: +65 6438 2990, Fax: +65 6438 0064

Don Agro International Limited (the “Company”) was listed on Catalist of the Singapore Exchange Securities Trading Limited (the “Exchange”) on 14 February 2020. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”).

This press release has been reviewed by the Company’s Sponsor. It has not been examined or approved by the Exchange and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr Joseph Au, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg