BHP Billiton and Rio Tinto Ltd opened significantly higher in Sydney this morning to tracking peers listed on NYSE and recovery of crude oil. In the meantime, coal producers have secured refinancing facilities as banks believe in their long-term prospect.

Felda Global Ventures, the world’s largest producer of crude palm oil (CPO), recorded CPO output of 261,858 tons last month, down 10.6% from October 2015 and 7.7% from November 2014. Sime Darby, considered second largest, meanwhile, reported almost 10% drop from October 2015.

R.E.A Holdings Plc, a company listed on the London Stock Exchange controlling PT REA Kaltim Plantation, said recently that current interest in new issues (initial public offering/IPO) on the Indonesia Stock Exchange (IDX) is such that it is unlikely that an IPO of its subsidiary can be a short term source of material new equity.

New Forests Tropical Asia Forest Fund LP (TAFF), unit of investment company New Forests Asset Management Pty Ltd, has entered into PT Hutan Ketapang Industri (HKI), a subsidiary of Sampoerna Agro (SGRO), through equity and loan agreements worth Rp588 billion.

SGX-listed palm oil producer First Resources Limited, with plantations in Indonesia, reported lower output of crude palm oil (CPO) las month even though its own FFBs production grew 8.2%. This is in line with lower production reported by 18 plantation companies listed on KL Stock Exchange in the month.

Malaysian plantation firm United Malacca Sdn Bhd has entered into a conditional sale and purchase agreement with BVI-based Lincoln Wilshire Investments Ltd for the acquisition of 88.2% shares in International Natural Resources Pte Ltd (INR), which indirectly controls plantation assets in Kalimantan for cash consideration of US$66.4 million.

The benchmark March 2016 contracts of crude palm oil (CPO) opened flat on the Bursa Malaysia Derivatives this morning due to volatility in the crude oil market. Falling harvest of FFBs and CPO production, however, might prevent further corrections of the commodity.