07/1105 Singapore (Soyatech.com)-- Cargill and Temasek Holdings have acquired CDC Group plc's palm plantation interests in Indonesia and Papua New Guinea. These include a plantation in Kalimantan (Indonesia) and a majority shareholding in four other plantations in the region. One of these plantations is located in Sumatra (Indonesia), with the other three in Higaturu, Milne Bay and Poliamba (Papua New Guinea).

The new venture is registered in Singapore as CTP Holdings Pte Ltd (CTP). Cargill is the majority shareholder of CTP and will assume managerial and operational responsibilities. Cargill's existing palm plantation in Sumatra will now become part of CTP.

"Palm oil demand is increasing globally and this acquisition represents a significant development for Cargill in the plantation business," says Paul Conway, head of Cargill's business in Asia and chairman of CTP Holdings. "The addition of these plantations is critical to diversifying our edible oils portfolio and will allow us to meet our customers' requirements for supply chain integrity and a high quality supply of palm oil and associated products."
Demand for palm oil has almost doubled in the past decade. Global consumption now stands at about 30 million tonnes, making palm the worldÌs largest vegetable oil crop after soya.

Comments Tan Suan Swee, Managing Director, Investments, Temasek Holdings: "We are pleased to have this opportunity to participate in the growing global palm oil market. We will tap into the significant experience of Cargill, our partner in this venture in the global oils business, as well as its reputation for responsible plantation management."

About Cargill

Cargill is an international provider of food, agricultural and risk management products and services. With 124,000 employees in 59 countries, the company is committed to using its knowledge and experience to collaborate with customers to help them succeed.

About Temasek Holdings

Temasek Holdings is an Asian investment company headquartered in Singapore. Established in 1974, it manages a diversified global portfolio of US$63 billion, spanning Singapore, Asia and the OECD economies. Its investments are in a various industries: telecommunications and media, financial services, property, transportation and logistics, energy and resources, infrastructure, engineering and technology, as well as pharmaceuticals and biosciences. For more information, visit www.temasekholdings.com.sg

About CDC Group plc.

CDC Group plc is the UK government's instrument for investing in the private sector in developing economies. For more information, visit www.cdcgroup.com