1. Singapore Stocks

  2. •

    Consumer Defensive

  3. •

    Agricultural Farm Products
First Resources Limited

First Resources Limited

FTROF
First Resources LimitedUS flagOther OTC
2.26
USD
- -
- -
3.50BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.4
0.39
0.29
0.36
0.41
0.4
0.39
0.42
0.65
0.78
0.63
0.67
1.07
0.39
Basic EPS, GAAP
0.15
0.11
0.06
0.08
0.09
0.08
0.06
0.06
0.1
0.21
0.09
0.16
0.23
0.06
Free Cash Flow per Basic Share
0.12
0.14
0.04
0.11
0.14
0.06
0.07
0.12
0.18
0.21
0.2
0.19
0.18
0.07
Dividend per Share
0.03
0.04
0.03
0.01
0.03
0.05
0.02
0.02
0.03
0.05
0.11
0.05
0.08
0.02
Book Value per Share
0.83
0.67
0.71
0.55
0.61
0.64
0.68
0.72
0.8
0.96
0.94
1.06
1.21
0.68
Tangible Book Value per Share
0.56
0.44
0.4
0.49
0.55
0.53
0.59
0.61
0.71
0.8
0.81
0.87
0.94
0.59
Basic Weighted Avg Shares
1,584
1,584
1,584
1,584
1,584
1,584
1,584
1,582
1,578
1,575
1,567
1,554
1,549
1,584
Sales/Revenue/Turnover
626
616
454
575
647
633
615
660
1,032
1,225
981
1,039
1,661
615
Operating Margin (%)
54.4
44.03
37.43
36.11
35.07
29.54
25.14
28.77
23.73
34.1
20.2
32.44
29.78
25.14
Depreciation Expense
28
31
50
57
63
67
71
74
84
79
82
85
115
71
Net Income, GAAP
238
173
96
125
138
120
89
100
161
325
145
246
354
89
Effective Tax Rate (%)
21.51
28.24
31.19
28.01
30.47
29.5
28.98
31.53
28.27
20.68
22.62
21.88
22.77
28.98
Profit Margin (%)
38.03
28.17
21.08
21.8
21.28
18.94
14.49
15.09
15.61
26.54
14.83
23.66
21.31
14.49
Working Capital
330
398
280
40
331
215
-1
103
376
543
194
211
524
-1
LT Debt
487
572
466
224
475
351
217
257
292
202
126
183
858
217
Total Equity
1,040
828
774
926
1,022
986
1,102
1,126
1,271
1,399
1,402
1,488
1,668
1,102
Return on Invested Capital (%)
16.4
13.07
8.62
11.19
10.76
9.01
7.54
8.35
10.59
19.29
9.12
15.32
17.09
7.54
Return on Capital (%)
13.24
9.41
5.52
7.95
9.16
7.92
5.96
6.17
9.05
17.58
7.8
12.7
14.64
5.96
Return on Common Equity (%)
19.64
14.59
8.72
12.53
14.91
12.1
8.56
9.02
13.4
23.47
9.74
15.73
20.09
8.56

Capital Structure

FRC

•

in mil. unless spec.
Jun'19
Sep'19
Dec'19
ST Debt
215
256
195
LT Borrowings
192
183
214
LT Finance Leases
- -
- -
2
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,584
1,584
1,584
Market Capitalization
2,218
1,758
1,758

Working Capital

FRC

•

in mil. unless spec.
Jun'19
Sep'19
Dec'19
Total Current Assets
315
338
313
Cash, Cash Equivalents & STI
44
77
59
Accounts Receivable, Net
39
21
42
Inventories
104
109
108
Total Current Liabilities
337
376
314
Payables & Accruals
- -
- -
- -
ST Debt
215
256
195
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.18%
8.27%
12.11%
Free Cash Flow
26.88%
9.7%
-7.06%
Net Income, GAAP
23.54%
44.25%
44%
Sales/Revenue/Turnover
16.25%
24.17%
59.91%
Total Cash Common Dividend
30.68%
47.06%
54.46%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
981
2024
- -
- -
- -
- -
1,039
2025
- -
- -
- -
- -
1,661

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.09
2024
- -
- -
- -
- -
0.16
2025
- -
- -
- -
- -
0.23

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.11
2024
- -
- -
- -
- -
0.05
2025
- -
- -
- -
- -
0.08

Company Description

MCPAPIChat
CEO
Ciliandra Fangiono
Full Time Employees
24,886
Sector
Consumer Defensive
Industry
Agricultural Farm Products
Address
No. 24-01 Suntec Tower One Singapore Singapore 038987
IPO Date
Jun 12, 2017
Website
first-resources.com
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Business
First Resources Limited (SGX:EB5; OTC:FTROF), an investment holding company founded in 1992 and headquartered in Singapore, ranks among the leading palm oil producers in Indonesia, where it cultivates and maintains over 200,000 hectares of oil palm plantations across Riau, East Kalimantan, and West Kalimantan provinces; harvests fresh fruit bunches; and operates palm oil mills to produce crude palm oil and palm kernel. The company refines crude palm oil through fractionation, biodiesel, and kernel crushing facilities into higher-value products including refined bleached and deodorized palm oil, RBD palm olein, RBD palm stearin, palm kernel oil, palm kernel expeller, palm fatty acid distillate, crude glycerin, and palm-based methyl ester biodiesel; its products adhere to Palm Oil Refiners Association of Malaysia standards, hold International Sustainable Carbon Certification for select items, and serve refiners, traders, brokers, and fast-moving consumer goods companies in domestic Indonesian and international markets including Europe, China, and Malaysia. As a subsidiary of Eight Capital Inc., First Resources operates in the plantations and palm oil mills segment alongside refinery and processing; recent developments include the 2025 completion of its acquisition of the remaining public shares in PT Austindo Nusantara Jaya Tbk via mandatory tender offer, achieving 95.92% ownership to expand upstream hectarage by 25% and boost crude palm oil output toward 1.25 million tonnes annually for enhanced feedstock security, alongside an internal restructuring in August 2025 transferring its stake in PT ASK to subsidiary PT Ciliandra Perkasa for US$373 million to consolidate control.