SINGAPORE, Aug. 10, 2015 /PRNewswire/ — Golden Agri-Resources Ltd has selected Bloomberg’s Foreign Exchange trading platform (FXGO) for currency hedging and risk management.
The world’s second largest palm oil plantation company is part of a growing number of regional centers globally using Bloomberg FXGO to manage and trade risk for its businesses in Asia Pacific.
“Bloomberg FXGO enables us to seamlessly trade G10, regional and emerging Asian currencies with best execution and straight-through processing,” said Gopul Shah, head of global treasury and trade finance at Golden Agri. “The efficiency and cost savings gained using Bloomberg as an integrated trading solution allow us to better support the company’s operational and strategic decisions while adopting industry best practices.”
Integrated with the Bloomberg Professional service, corporate treasurers can use FXGO to analyze trade ideas, request for quotes, execute and perform post-trade allocation, all on a single electronic platform.
“Golden Agri’s selection of Bloomberg FXGO sets the standard in the corporate treasury space for foreign exchange risk management,” said Tod Van Name, Bloomberg’s Global Head of FX and Commodities Electronic Trading. “Corporate treasurers today are under greater pressure to enhance operational performance, workflow efficiency and reduce costs, making Bloomberg FXGO a compelling and seamless solution that provides a competitive edge in FX hedging.”
Bloomberg FXGO offers liquidity from over 300 providers worldwide and commission-free trading for financial institutions, corporations, money managers and hedge funds across all major FX instruments including spot, forwards, options, NDFs and deposits.
For more information on Bloomberg’s FX electronic trading solutions, visit http://www.bloomberg.com/professional/markets/foreign-exchange/ or FXGO <go> on the Bloomberg Professional service.
About Golden Agri-Resources Ltd (“GAR”)
GAR is one of the leading palm oil plantation companies with a total planted area of 484,937 hectares (including smallholders) as at 31 March 2015, located in Indonesia. It has integrated operations focused on the production of palm-based edible oil and fat.
Founded in 1996, GAR is listed on the Singapore Exchange since 1999 with a market capitalisation of US$4.2 billion as at 31 March 2015. Flambo International Limited, an investment company, is currently GAR’s largest shareholder, with a 50.35% stake. GAR has several subsidiaries, including PT SMART Tbk which is listed on the Indonesia Stock Exchange since 1992.
GAR is focused on sustainable palm oil production. In Indonesia, its primary activities include cultivating and harvesting of oil palm trees; processing of fresh fruit bunch into crude palm oil (“CPO”) and palm kernel; and refining CPO into value-added products such as cooking oil, margarine and shortening. It also has integrated operations in China including a deep-sea port, oilseeds crushing plants, production capabilities for refined edible oil products as well as other food products such as noodles
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