First Resources    Last:2.7   -

First Resources

Indonesia market facing a new political pressure I will not touch Until the dust settles.

 

Title: First Resources (EB5): Balancing Jakarta&rsquo s New Export Agency Against Global Oil Tailwinds
With Indonesia completely shaking up the commodities landscape this week, here is an institutional-grade look at how First Resources (EB5) shapes up amid the new regulatory frameworks, Middle East energy dynamics, and global supply constraints.
1. The Jakarta Wildcard: Danantara Centralization & The Integrated Moat
President Prabowo' s announcement on May 20 to route all palm oil exports through a single state-owned enterprise (Danantara Sumberdaya Indonesia) starting June 1 has understandably spooked the market.
The Near-Term Operational Risks:

• Potential administrative bottlenecks and slower shipment approvals during the June-to-August transition phase.
• Reduced commercial flexibility in contract negotiations and potential friction in meeting the strict 12-month domestic forex retention rules.

Why First Resources is Insulated: Unlike pure downstream refiners or unhedged smallholders, EB5 possesses a fully integrated upstream-to-downstream model. Having their own plantations, crushing mills, and biodiesel assets gives them the lowest cost-quartile structure in the industry. If state intervention squeezes margins across the board, the lowest-cost producers are always the last ones standing.
Furthermore, certain refined downstream derivatives remain exempt from the centralized state-marketing regime, allowing EB5 to pivot its product mix flexibly to preserve commercial agility.
2. The Irony of Resource Nationalism: Tightening Global Supply
Historically, when Indonesia interferes with its supply chains, global supply tightens, and prices surge. We saw this immediately after the announcement, with Malaysian CPO futures jumping 2% on supply disruption fears.
With the Malaysian Palm Oil Council (MPOC) projecting CPO prices to hold firmly around MYR 4,400 &ndash 4,600/tonne, elevated selling prices will likely comfortably absorb any minor domestic administrative cost inflation.
3. The Energy Transmission: Middle East Shock & Biodiesel Mandates
The ongoing tensions surrounding the Strait of Hormuz have locked Brent crude oil at an elevated US$105/bbl. This acts as a structural bullish driver for palm oil through the biofuel parity mechanism:
As more raw CPO gets diverted domestically within Indonesia to fuel the mandatory state energy blending quotas, the volume of edible palm oil available for global export shrinks drastically, driving global inventories well below historical averages.
Summary Matrix: Net Effect on EB5

Macro Catalyst	Operational/Financial Impact	Net Implication for EB5
Danantara Export Centralization	Mild-to-moderate administrative friction.	Managed Risk  (Integrated model provides a structural defensive moat).
Hormuz Impasse (Brent @ US$105)	Drastically improves global biofuel blending economics.	Strong Positive  (Drives alternative demand).
Domestic B40/B50 Mandates	Reduces available export stockpiles globally.	Strong Positive  (Defends the MYR 4,400 price floor).
Logistics & Fertilizer Inflation	Pushes up operating and shipping input costs.	Negative  (Margins expand only if CPO outpaces input inflation).

Conclusion: Operationally, the company remains fundamentally robust, backed by strong production growth from its recent asset acquisitions. As long as Jakarta avoids overly aggressive pricing caps, the combination of a high global CPO price floor, structural energy tailwinds, and EB5' s integrated cost-moat heavily outweighs the near-term regulatory noise. DYODD

yuhanooi      ( Date: 21-May-2026 11:57) Posted: Seems like a lose-lose solution, government probably better off just increasing export tax for more revenue. PQTPQK      ( Date: 21-May-2026 11:06) Posted: scary ...drop so muc

 

Seems like a lose-lose solution, government probably better off just increasing export tax for more revenue.

PQTPQK      ( Date: 21-May-2026 11:06) Posted: scary ...drop so much Caesar      ( Date: 21-May-2026 10:46) Posted: Oic. Thanks

 

scary ...drop so much

Caesar      ( Date: 21-May-2026 10:46) Posted: Oic. Thanks! yuhanooi      ( Date: 21-May-2026 08:28) Posted: Due to announcement of state control of critical exports like palm oil and coal

 

Oic. Thanks!

yuhanooi      ( Date: 21-May-2026 08:28) Posted: Due to announcement of state control of critical exports like palm oil and coal. Caesar      ( Date: 20-May-2026 10:08) Posted: Drop nonstop for 3 days after results ...classic case of sell on news? From high of 3.95 to today's low of 2.92, already retraced more than 20

 

Due to announcement of state control of critical exports like palm oil and coal.

Caesar      ( Date: 20-May-2026 10:08) Posted: Drop nonstop for 3 days after results ...classic case of sell on news? From high of 3.95 to today's low of 2.92, already retraced more than 20% Sgvale      ( Date: 06-Mar-2026 16:40) Posted: Up over 12%

 

EB5 (First Resources): Phenomenal Fundamentals vs. Algorithmic Market Paradox
This summary breaks down the severe disconnect between First Resources' stellar business execution and the violent mid-May price action, providing a tactical perspective for forum members tracking the counter.
1. Consolidated Financial Health Check
Operationally, the company is performing at historical peaks. The numbers reveal exceptional year-on-year growth across both key reporting intervals:

Financial Metric	FY2025 Full Year Results	1Q2026 Business Update	Key Driver
Net Profit	US$353.9 Million (+44.0% YoY)	US$96.6 Million (+53.1% YoY)	Boosted by higher extraction rates and structural asset integration.
Revenue / Sales	US$1.7 Billion (+59.9% YoY)	US$477.2 Million (+70.4% YoY)	Powered by a massive 59,000-tonne inventory drawdown.
EBITDA	US$614.9 Million (+54.1% YoY)	US$165.7 Million (+54.9% YoY)	Driven by a 20% surge in Fresh Fruit Bunches (FFB) harvested.
Total Dividend	S$0.147 / share (Full Year)	Paid out on May 15, 2026	Yield anchors a solid 4.5%&ndash 4.8% value floor at current prices.

2. Decoding the " Sell-On-Fact" Trap
The major question circulating on the forums is: Why did the stock crash right after dropping such stellar results?

• The Climax Setup: Leading up to mid-May, the stock was highly sought after due to the upcoming S$0.102 final dividend payout and anticipating strong Q1 output. On May 15 (the official dividend payment date), the stock peaked at a 52-week high of S$3.95.
• The Algorithmic Trigger: At that exact peak, technical indicators like the Money Flow Index (MFI) crossed into an overbought extreme (> 90). High-Frequency Trading (HFT) funds and institutional algorithms recognized that retail buying power had reached maximum saturation.
• The Resulting Flush: Instantly, algorithms triggered automated short blocks, sparking a massive momentum reversal. This forced an aggressive wave of retail stop-loss liquidations that pushed the price down from S$3.95 to recent lows.

3. Chart Technicals & The " Lesser of Evils" Blueprint
The vertical markdown phase over the last few trading days appears to have finally hit an exhaustion floor, setting up a distinct technical pattern:
The Capitulation Floor: On the morning of May 20, a sharp, algorithmic morning flush forced a rapid intraday wick down to S$2.92. This effectively swept out the remaining technical stop-losses.
The Base: Immediately following that low, selling volume dropped to near-zero, and the price snapped back to consolidate horizontally around the S$3.03 &ndash S$3.18 zone.
Tactical Outlook

• The Base Pattern: Short-term Exponential Moving Averages (EMAs) and the MACD have flattened out completely. This horizontal alignment signals that the severe automated selling pressure is structurally exhausted for now.
• The Relief Bounce Target: Stale short-sellers squaring positions and value hunters reacting to the 53% profit jump will likely trigger a natural " mean reversion" over the coming sessions.
• The Exit Zone: For those looking to trim or optimize positions, selling into a horizontal base right after a vertical plunge is sub-optimal. The ideal window is to wait for this relief bounce to carry the price back into the previous congestion zone of S$3.34 &ndash S$3.40 to exit on technical strength rather than market panic.

DYODD. Gemini is an AI and can make mistakes

Joelton      ( Date: 17-May-2026 22:36) Posted: First Resources Q1 net profit up 53.1% at US$96.6 million on stronger sales, production output It has posted a 70.4% year-on-year increase in sales to US$477.2 million [SINGAPORE] Indonesian palm oil producer First Resources : EB5 +3.53% posted net profit of US$96.6 million for its first quarter ended Mar 31, up 53.1 per cent from US$63.1 million in the year-ago period. This was underpinned by a 70.4 per cent year-on-year increase in sales to US$477.2 million for Q1 2026, from US$280 million previously. The mainboard-listed company on Friday (May 15) attributed the higher sales to stronger production output, increased purchases of fresh fruit bunches and palm oil products from third parties, as well as a net inventory drawdown of 59,000 tonnes during the quarter. This is compared to a build-up of 18,000 tonnes in the corresponding period the prior year. For the quarter, earnings before interest, taxes, depreciation and amortisation increased 54.9 per cent to US$165.7 million from US$107 million in the previous corresponding period. Equity attributable to owners of the company climbed 2.8 per cent on the year to US$1.58 billion from US$1.54 billion. Shares of First Resources closed Thursday 3.5 per cent or S$0.13 higher at S$3.81.

 

Drop nonstop for 3 days after results ...classic case of sell on news? From high of 3.95 to today's low of 2.92, already retraced more than 20%

Sgvale      ( Date: 06-Mar-2026 16:40) Posted: Up over 12%

 

First Resources Q1 net profit up 53.1% at US$96.6 million on stronger sales, production output

It has posted a 70.4% year-on-year increase in sales to US$477.2 million

[SINGAPORE] Indonesian palm oil producer First Resources : EB5 +3.53% posted net profit of US$96.6 million for its first quarter ended Mar 31, up 53.1 per cent from US$63.1 million in the year-ago period.

This was underpinned by a 70.4 per cent year-on-year increase in sales to US$477.2 million for Q1 2026, from US$280 million previously.

The mainboard-listed company on Friday (May 15) attributed the higher sales to stronger production output, increased purchases of fresh fruit bunches and palm oil products from third parties, as well as a net inventory drawdown of 59,000 tonnes during the quarter.

This is compared to a build-up of 18,000 tonnes in the corresponding period the prior year.

For the quarter, earnings before interest, taxes, depreciation and amortisation increased 54.9 per cent to US$165.7 million from US$107 million in the previous corresponding period.

Equity attributable to owners of the company climbed 2.8 per cent on the year to US$1.58 billion from US$1.54 billion.

Shares of First Resources closed Thursday 3.5 per cent or S$0.13 higher at S$3.81.

 

Up over 12%

 

 

Firmer palm oil prices lift SGX agri stocks ahead of H2 results, but Indonesia risks cloud outlook

Market watchers expect the strong streak from earlier in FY2025 to continue, but individual companies face potential downside risks

[SINGAPORE] The tightening global supply of crude palm oil (CPO) likely boosted Singapore-listed agriculture players for the second half and fourth quarter of the 2025 financial year, but investors remain wary as Indonesia& rsquo s shifting regulations and land clawback campaign cast a shadow over the sector.

With the companies expected to report their results this week, analysts said industry tailwinds should extend the strong momentum from H1, though policy risks and company-specific challenges cloud the outlook.

Meanwhile, attention is also on  Olam Group : VC2 , which is continuing its multi-year restructuring. Investors are closely watching its balance sheet for progress on the  divestment of its Olam Agri unit  to the Saudis and the planned initial public offering of its food ingredients unit, ofi.

Palm oil planters

Analysts flagged two key developments in H2 FY2025 for palm oil producers: regulatory fog in Indonesia and higher CPO prices due to tighter supply.

The prices are expected to be boosted by Indonesia& rsquo s B50 biodiesel mandate, which requires the blending of 50 per cent palm oil-based fuel with diesel, said OCBC Group Research in a note on Jan 14.

Despite the postponement of Indonesia& rsquo s B50 mandate, the existing B40 programme absorbed over 13 million tonnes of CPO in 2025, compared with 7.5 million tonnes in 2020. This provides a robust floor for palm oil demand, helping to underpin prices, said Macquarie Equity Research in a note on Jan 16.

Nirgunan Tiruchelvam, head of consumer and Internet at Aletheia Capital, noted in October 2025 that  Bumitama Agri : P8Z  and  First Resources : EB5  are the most leveraged to CPO price gains through youthful estates and high extraction rates.

Indofood Agri Resources : 5JS should benefit from stronger downstream refining spreads, while  Kencana Agri : BNE  offers the highest operating leverage given its smaller base, said Tiruchelvam.

These four Singapore-listed stocks are priced around 30 per cent lower than their competitors, despite having a return on invested capital in the mid-teens and dividend yields of up to 9 per cent, he added.

Still, he highlighted a valuation gap. While CPO prices doubled between 2015 and 2025, regional plantation stocks lagged by 17 per cent.

He attributed this disconnect to a sharp decline in the correlation between palm oil prices and stock performance, which fell from 83 per cent between 1995 and 2015 to 42 per cent after 2015. This drop came as fund managers divested palm oil for ESG reasons, he said.

However, geopolitical shifts, such as the  rollback of ESG standards under the Trump administration, could reignite investor interest and potentially restore the historical link between commodity prices and plantation share values, he noted.

Macquarie analysts Amanda Foo and Hanel Tan said that the global CPO market was moving into a & ldquo structurally tight phase& rdquo . They added that supply growth is increasingly capped by moratoriums on new plantation developments in Indonesia and Malaysia, declining yields from ageing trees, and the onset of La Nina weather patterns.

That said, regulatory risks remain.  Indonesia& rsquo s land clawback campaign  potentially affects hundreds of companies across palm oil, forestry and mining. OCBC analysts noted that the risk of regulatory fines from alleged unauthorised planting in Indonesia could weigh on investor confidence.

Meanwhile, market watchers said that larger integrated players such as  Wilmar International : F34  and  Golden Agri-Resources : E5H  are also likely to benefit from firmer CPO prices.

Tiruchelvam, however, noted that Wilmar& rsquo s contract fraud liability ruling in China and ongoing legal challenges in Indonesia introduced a  & ldquo structural overhang& rdquo .

Macquaries Foo added in a separate note: & ldquo While Wilmar has yet to find reprieve from its regulatory situation, we believe this has been more than priced in by the market.& rdquo

OCBC Group Research expects Golden Agri-Resources to report softer fresh fruit bunch production in H2 2025 due to its aggressive replanting programme and dry weather conditions.

Olam Group

While palm oil players grapple with yields and mandates, agribusiness giant Olam Group is navigating developments centred on its balance sheet and the  completion of its reorganisation strategy.

Market watcher Jamal Aliyev, manager at nut distribution company CCI Apac, noted that Olam Group& rsquo s primary drag has been high net gearing, driven by the spike in cocoa and coffee prices in 2024.

During Olam Groups earnings briefing for FY2024, the company reported that invested capital grew by 34.4 per cent year on year, primarily on elevated commodity prices in its ofi portfolio.

However, with cocoa prices retreating from over US$11,000 per tonne in 2024 to around US$3,300 per tonne now, Olam Group is expected to see a reduction in working capital needs, noted Aliyev.

This should lead to improvements in net gearing, fortify Olam Groups balance sheet and lower its finance expenses for the second half of FY2025 and the first half of FY2026, he added.

Post-Olam Agri divestment, the remaining Olam Group will be practically debt-free, he said, as the majority of the sale proceeds are intended to repay the group& rsquo s debt.

Full-year results for the agri sector kick off on Feb 26 with Golden-Agri Resources and Wilmar, while Bumitama Agri, First Resources, Indofood, Mewah International and Olam Group will report on Feb 27.

 

 

Bought some 173. Let see if it can close gap again at 176.......

 

 

https://jakartaglobe.id/business/indonesias-palm-oil-export-soars-35-to-over-16-billion#goog_rewarded

beng1102      ( Date: 17-Sep-2025 12:04) Posted: STRONG BUY.  Retest and likely to break upward.  The whole market has become rather boring.  This counter is mong the very few worth buying. beng1102      ( Date: 12-Sep-2025 13:59) Posted: STRONG BUY like to go above 1.

 

STRONG BUY.  Retest and likely to break upward.  The whole market has become rather boring.  This counter is mong the very few worth buying.

beng1102      ( Date: 12-Sep-2025 13:59) Posted: STRONG BUY like to go above 1.7 beng1102      ( Date: 10-Sep-2025 11:59) Posted: STRONG BUY NOW.  Price is now ready to bounce back.  Profit taking and correction looks over as price is now at the lowest of the last 18 trading days

 

STRONG BUY like to go above 1.7

beng1102      ( Date: 10-Sep-2025 11:59) Posted: STRONG BUY NOW.  Price is now ready to bounce back.  Profit taking and correction looks over as price is now at the lowest of the last 18 trading days. Kilatkilat      ( Date: 29-Aug-2025 12:21) Posted: Initiated coverage on this stock. Today target 1.7

 

In another words : First Resources&rsquo move to acquire the remaining ~6.2% of Austindo Nusantara Jaya (ANJ) completes its take-over of an Indonesia&ndash listed palm‐ oil group after securing 91.2% earlier this year. This mandatory tender offer at IDR 1,813 per share mirrors the price paid in March and ensures all minority holders have equal exit terms&mdash a fair practice under Indonesian capital‐ markets rules that protects small shareholders.

From a strategic standpoint, folding ANJ wholly into First Resources&rsquo portfolio advances its  vertical integration  goal. By boosting upstream plantation acreage by ~25% and adding CPO‐ mill capacity, First Resources secures reliable feedstock for its refining and downstream operations. This integration:

• 
  
  Strengthens margin control through in‐ house processing rather than spot buying
• 
  
  Enhances supply‐ chain resilience amid market volatility and ESG scrutiny
• 
  
  Positions First Resources to capture value across the palm‐ oil value chain and potentially command better buyer and lender confidence.

Operationally, First Resources can now optimize ANJ&rsquo s aging estates&mdash rejuvenating unproductive areas, improving road and logistics infrastructure to mills, and leveraging scale to lower unit costs. The enlarged CPO output (targeting 1.25 Mtpa) against 1.35 Mtpa refining capacity underwrites fullness of its refineries, improving utilization and free‐ cash‐ flow generation.

On governance, retaining ANJ as an IDX-listed entity preserves market liquidity, external oversight, and minority‐ investor visibility&mdash key considerations for ESG&ndash minded stakeholders. It also leaves room for First Resources to pursue future bolt-on plantation acquisitions under the ANJ vehicle, avoiding the complexity of direct stakebuilding in small private plantations.

Overall, the tender‐ offer completion and full consolidation of ANJ align with First Resources&rsquo long‐ term strategy to evolve into a fully integrated regional palm‐ oil champion with enhanced cost control, production certainty, and sustainable growth prospects.

Joelton      ( Date: 26-Aug-2025 12:11) Posted: First Resources to buy remaining shares of Indonesia-listed Austindo Nusantara Jaya It will purchase around 6.2 per cent of the company&rsquo s issued and paid-up share capital, having acquired a 91.2 per cent stake earlier   [SINGAPORE] First Resources : EB5 +1.7% will buy the remaining shares it does not own in Austindo Nusantara Jaya after its acquisition of a 91.2 per cent stake in the Indonesia-listed company, the palm oil producer said on Monday (Aug 25).    It will purchase around 6.2 per cent of the issued and paid-up share capital of Austindo Nusantara Jaya, an Indonesian Stock Exchange (IDX)-listed company primarily engaged in the palm oil plantation business.    On Mar 18, First Resources&rsquo majority-owned subsidiary Ciliandra Perkasa entered a conditional agreement to acquire a 91.2 per cent stake or around 3.1 billion shares of Austindo Nusantara Jaya for US$329.8 million.    At a share purchase price of 1,813 rupiah per share, the acquisition was completed on May 6 by First Resources. The company assumed Ciliandra Perkasa&rsquo s rights to acquire the shares via a novation agreement inked between the two parties on Apr 11.    Upon the completion of the transaction, First Resources is obliged to make a mandatory tender offer to purchase the balance shareholdings in Austindo Nusantara Jaya.    This amounts to a maximum of 8.8 per cent of the group&rsquo s issued and paid-up share capital or around 296.2 million shares.  From Aug 26 to Sep 24, First Resources will conduct the mandatory tender offer to purchase some 207.6 million of Austindo Nusantara Jaya shares, representing a stake of around 6.2 per cent.   This excludes around 88.5 million of Austindo Nusantara Jaya shares that were acquired by Ciliandra Perkasa through the open market at prevailing market prices for a total cash consideration of 157.94 billion rupiah (S$12 million) or around US$9.7 million.   The offer price for the mandatory tender offer is 1,813 rupiah per share, unchanged from the share purchase price of the earlier acquisition.    Beyond the palm oil plantation business, Austindo Nusantara Jaya is a holding company for several subsidiaries that operate in the production and sale of palm oil and other sustainable food crops, alongside renewable energy.    Vertical integration strategy  As part of First Resources&rsquo broader vertical integration strategy, the acquisition is in line with its long-term goal of becoming an integrated plantation player with processing capabilities that value-add to its upstream produce.    Austindo Nusantara Jaya is expected to play a key role as one of the main suppliers for the palm oil producer&rsquo s downstream operations.    The company said in March that the proposed acquisition &ldquo presents a rare opportunity for the group to expand its upstream oil palm plantation footprint and enhance feedstock availability for its growing downstream operations&rdquo .    The transaction is set to boost its hectarage by around 25 per cent and reinforce its position as a regional palm oil producer, First Resources said then.    The additional production from the palm oil plantations and crude pail oil (CPO) mills acquired are expected to boost its CPO output by 25 per cent to 1.25 million tonnes, the company added.    This increase would enhance the certainty and reliability of feedstock supply for its 1.35 million tonnes of refining and processing capacity.    First Resources hopes to expand Austindo Nusantara Jaya&rsquo s palm oil plantation areas by exploring potential acquisitions.    It plans to rejuvenate unproductive plantations and to extend the productive cycle of the plantations.    The palm oil producer intends to improve Austindo Nusantara Jaya&rsquo s plantation infrastructure and logistics, such as by optimising internal distribution routes from plantations to processing mills and enhancing support facilities.    First Resources said it does not intend to delist the company from the IDX or to privatise it.

 

STRONG BUY NOW.  Price is now ready to bounce back.  Profit taking and correction looks over as price is now at the lowest of the last 18 trading days.

Kilatkilat      ( Date: 29-Aug-2025 12:21) Posted: Initiated coverage on this stock. Today target 1.75 Joelton      ( Date: 26-Aug-2025 12:11) Posted: First Resources to buy remaining shares of Indonesia-listed Austindo Nusantara Jaya It will purchase around 6.2 per cent of the company&rsquo s issued and paid-up share capital, having acquired a 91.2 per cent stake earlier   [SINGAPORE] First Resources : EB5 +1.7% will buy the remaining shares it does not own in Austindo Nusantara Jaya after its acquisition of a 91.2 per cent stake in the Indonesia-listed company, the palm oil producer said on Monday (Aug 25).    It will purchase around 6.2 per cent of the issued and paid-up share capital of Austindo Nusantara Jaya, an Indonesian Stock Exchange (IDX)-listed company primarily engaged in the palm oil plantation business.    On Mar 18, First Resources&rsquo majority-owned subsidiary Ciliandra Perkasa entered a conditional agreement to acquire a 91.2 per cent stake or around 3.1 billion shares of Austindo Nusantara Jaya for US$329.8 million.    At a share purchase price of 1,813 rupiah per share, the acquisition was completed on May 6 by First Resources. The company assumed Ciliandra Perkasa&rsquo s rights to acquire the shares via a novation agreement inked between the two parties on Apr 11.    Upon the completion of the transaction, First Resources is obliged to make a mandatory tender offer to purchase the balance shareholdings in Austindo Nusantara Jaya.    This amounts to a maximum of 8.8 per cent of the group&rsquo s issued and paid-up share capital or around 296.2 million shares.  From Aug 26 to Sep 24, First Resources will conduct the mandatory tender offer to purchase some 207.6 million of Austindo Nusantara Jaya shares, representing a stake of around 6.2 per cent.   This excludes around 88.5 million of Austindo Nusantara Jaya shares that were acquired by Ciliandra Perkasa through the open market at prevailing market prices for a total cash consideration of 157.94 billion rupiah (S$12 million) or around US$9.7 million.   The offer price for the mandatory tender offer is 1,813 rupiah per share, unchanged from the share purchase price of the earlier acquisition.    Beyond the palm oil plantation business, Austindo Nusantara Jaya is a holding company for several subsidiaries that operate in the production and sale of palm oil and other sustainable food crops, alongside renewable energy.    Vertical integration strategy  As part of First Resources&rsquo broader vertical integration strategy, the acquisition is in line with its long-term goal of becoming an integrated plantation player with processing capabilities that value-add to its upstream produce.    Austindo Nusantara Jaya is expected to play a key role as one of the main suppliers for the palm oil producer&rsquo s downstream operations.    The company said in March that the proposed acquisition &ldquo presents a rare opportunity for the group to expand its upstream oil palm plantation footprint and enhance feedstock availability for its growing downstream operations&rdquo .    The transaction is set to boost its hectarage by around 25 per cent and reinforce its position as a regional palm oil producer, First Resources said then.    The additional production from the palm oil plantations and crude pail oil (CPO) mills acquired are expected to boost its CPO output by 25 per cent to 1.25 million tonnes, the company added.    This increase would enhance the certainty and reliability of feedstock supply for its 1.35 million tonnes of refining and processing capacity.    First Resources hopes to expand Austindo Nusantara Jaya&rsquo s palm oil plantation areas by exploring potential acquisitions.    It plans to rejuvenate unproductive plantations and to extend the productive cycle of the plantations.    The palm oil producer intends to improve Austindo Nusantara Jaya&rsquo s plantation infrastructure and logistics, such as by optimising internal distribution routes from plantations to processing mills and enhancing support facilities.    First Resources said it does not intend to delist the company from the IDX or to privatise it.