United Palm Oil Industry Public Company Limited (Upoic)

United palm oil industry public company limited was established and registered under the civil and commercial on april 21st,1978. The Company owns large oil palm plantations in Krabi and Surathani provinces with a combined planted area of more than 21,349 rai and extracts crude palm oil (CPO) from fresh fruit bunch (FFB) of oil palm fruits. On April 30th, 1991 United Palm Oil Industry Co., Ltd. was granted permission for its shares to be a listed company on the Stock Exchange of Thailand (SET) with the symbol ÒUPOICÓ. In February 1994 the Commonwealth Development Corporation (CDC), a financial development corporation of the British Government with substantial oil palm investments in several countries, became the major shareholder of UPOIC. At the ShareholdersÕ Extraordinary Meeting held on August 15th, 1994 approval has given to increase the CompanyÕs registered capital from Baht 250 million to Baht 324.05 million by issuing new share in exchange for an 100% stake in Phansrivivat Co., Ltd. (PCL); PCL. Lam Soon (Thailand) Public Company Limited (LST) began purchasing UPOIC shares since 1997. Later, on May 28th, 2003 LST acquired more shares in UPOIC from the Commonwealth Development Corporation and CDC (West Malaysia) Sendirian Berhad, and as a result became the major shareholder of UPOIC. Currently, LST holds 69.96% in UPOIC. In 2006 UPOIC entered into a joint venture with Centre de Cooperation Internationale en Recherche Agronomique pour le Developpement (CIRAD), to form Siam Elite Palm Co., Ltd. (SEP), CIRAD, a public establishment of the French government as Agricultural Research Centre for International Development, has for over 50 years experience in technology, knowledge and expertise regarding research and development of oil palm seed. CIRAD¨ oil palm seeds are widely recognized one of the best in the world in terms of high yields and rich oil content. Apart from that, SEP also has a research and development project to produce oil palm seeds whose female parents stem from ÒDeli duraÓ palms.