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Golden Agri sinks into the red with US$95m net loss in Q1

Loss mainly due to forex translation losses; revenue rose 2% to US$1.66 billion on higher average selling prices

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Chairman Franky Widjaja says: "Long-term fundamentals of the industry remain in place, as palm oil is the most consumed vegetable oil with its high versatility and lowest cost of production."

Singapore

GOLDEN Agri-Resources has sunk into the red with a net loss of US$95 million for its first quarter ended March 31, reversing from a profit of US$18 million a year earlier.

This was mainly due to foreign exchange translation loss, the palm oil plantation owner said on...

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