1

PPB GROUP BERHAD

Final ResultsYear Ended 31 December 2006

Presented by Koh Mei Lee

Senior Manager (Corporate Affairs)

2

Agenda

1. Group Financial Highlights Financial Results for Year 2006

Segmental Information

Major Contributors to Group’s Profit

Cash & Borrowings

3. Dividend Record for Years 2002 - 2006

4. Share Performance for Year 2006

2. Profit Before Tax for Years 2002 - 2006

3

Agenda

6. Expansion / Future plans

7. Proposed Disposals of PPBOP, PGEO

and KOG Introduction – Offers from Wilmar

Sale Consideration to PPB

Update

New Wilmar Group structure

Rationale & Benefits

Effects of Proposed Disposals on PPB

5. Capital Commitment as at 31 Dec 2006

4

Group Financial Highlights

5

Financial Results

FY2006 FY2005 Change

RM mil RM mil %

Revenue 11,520 10,688 8

Profit from operations 584 517 13

Net profit from investing activities 149 60 148

Share of associates/ JV 140 48 192

Finance costs (33) (16) 106

PBT 840 609 38

Tax (146) (141) 4

PAT 694 468 48

Minority interest (134) (74) 81

Net profit 561 394 42

EPS (sen) 47.3 33.3 42

6

Segmental Information

Sugar & cane

7%

Grains trading,

flour & feed

milling

8%

Edible oils

refining & trading

72%

Oil palm

plantations

5%

Waste

management &

utilities

1%

Film

exhibition

1%

Property

0.4%

Others

5.6%

Revenue

Total RM11.5 billion

7

`

Sugar & cane

14%

Grains trading,

flour & feed

milling

18%

Edible oils

refining & trading

25%

Oil palm

plantations

34%

Waste

management &

utilities

1%

Film

exhibition

3%

Property

2%

Others

3%

Operating profits

Total RM600 million

Segmental Information

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Major Contributors to Group Operating Profit

Reason for higher/ lower profits

Sugar & cane

Higher raw sugar prices.

Grain trading, flour & feed milling

Higher sales.

Edible oils refining & trading

Better refining margins.

Oil palm plantations

Higher CPO prices.

Higher crop production.

Average CPO price realized :-

Year 2006 RM 1,465 per tonne

Year 2005 RM1,349 per tonne

91 85

57

110

126

149165

203

0

50

100

150

200

250

Sugar & cane Grains

trading, flour

& feed milling

Edible oils

refining &

trading

Oil palm

plantations

Y2005 Y2006

RM million

RM6 m

(7%)

RM38m

(23%)

RM53m

(93%)

RM23m

(18%)

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Reason for higher/ lower profits

Waste management & utilities

Divestment of loss making subsidiary, Marathon Equipment Asia Pte Ltd.

Film exhibition

Stronger performance of blockbuster films.

Contribution from new cineplex.

Property

Write-back of development cost in 2005.

Others

Livestock (down RM23 million)

Chemicals trading & manufacturing (down RM12million)

Packaging (up RM5.4 million)

-6

3

18 19 19

14

65

17

-10

0

10

20

30

40

50

60

70

Waste

management

& utilities

Film

exhibition

Property Others

Y2005 Y2006RM million

RM9m

(150%)

RM1m

(6%)

RM5m

(26%)

RM48m

(74%)

Major Contributors to Group Operating Profit

10

Cash and Borrowings

753

517

150

367

72

763

691

334

357

236Net cash

Cash & deposits

Total

borrowings

LT borrowings

ST borrowings

Y2005 Y2006RM Million

11

Profit Before Tax for

Years 2002 - 2006

12

481

686 710609

840

0

100

200

300

400

500

600

700

800

900

2002 2003 2004 2005 2006

5-year Profit Before Tax

RM Million

Year

13

Dividend Record for

Years 2002 - 2006

14

Dividend Record

Dividend

Per Share

Net

Dividend

Net

DividendPayout ratio

Gross Net Paid/payable Yield Group Company

Year (sen) (sen) (RM Million) (%) (%) (%)

2006

-Interim

-Final

5.0

15.0

20.0

3.6

10.95

14.55

42.678

129.812

172.49

2.67 30.8 103.6

2005 20.0 14.4 170.712 3.5 43.3 115.9

2004 15.0 11.85 140.482 3.5 35.1 75.4

2003 12.5 10.26 100.675 3.1 27.1 72.3

2002 23.25 21.5 210.968 10.9 86.8 97.6

* Final dividend for year 2006 is payable on Thursday, 7 June 2007.

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Share Performance for

Year 2006

16

Share Performance

0

1

2

3

4

5

6

7

Jan (o

pens

)Ja

nFe

bMar

Apr

May

June Ju

lAu

gSe

pOct

Nov De

cJa

nFe

b

PPB S

hare

Pri

ce (

RM

)

0

200

400

600

800

1000

1200

1400

Com

posite I

ndex

PPB Close (Last Trade) KLCI Close (Last Trade)

Y2006

RM4.08 RM4.00

892.85

31 24

3-1-0630-6-06

23-2-07

Year 2006

Closing Price (high) - RM5.45

Closing Price (low) – RM3.86

Market Capitalization as @ 31.12.06 – RM6,460,974,356.00

915

Y2007

RM6.40

1283

RM5.45

29-12-06

1096

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Capital Commitment as at

31 December 2006

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Capital Commitment as at 31 Dec 2006

RM 910 million

Capital commitments

RM 568m

PPBOP FFM MSM PPB

LeisureOthers

RM 13.5mRM166mRM 15mRM 144m RM 3.5m

PPB

Hartabina

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Capital Commitment as at 31 Dec 2006

PPBOP FFM MSM

TOTAL = RM568m

PPE & Others

- Malaysia

RM

13m

-Sabah 51m

-Sarawak 14m

-Indonesia 115m

Total 193m

Plantation development

-Sabah 50m

-Sarawak 9m

-Indonesia 316m

Total 375m

TOTAL = RM144m

Construction, upgrading & acquisition

RM

Flour mill & warehouse project at Kota Kinabalu

40m

Processing plant at West Port

34m

Prai Flour mill project

Upgrading of refinery & expansion of tank farm

15m

20m

Others 35m

Total 144m

TOTAL = RM15m

Upgrading and replacement

RM

Refined

sugar silo 6m

Melting &

packaging 5m

Others 4m

Total 15m

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Capital Commitment as at 31 Dec 2006

PPBHartabina

PPBLeisure

TOTAL = RM166m

RM

New multiplexes & cinema upgrading

- Mid Valley

- KL Pavilion

- Star City

- 1 Borneo

61m

Upgrading expenditure

Acquisition of GSC shares

1m

104m

Total 166m

TOTAL = RM13.5m

Construction costs

RM

New World Park project in Penang

13.1m

Upgrading expenditure

0.4m

Total 13.5m

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Expansion / Future Plans

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Expansion / Future Plans

Sugar

• Continue to enhance its packing, logistic and other operational efficiencies.

• Expand its export activities.

Flour and animal feed milling

• Continue to expand its business locally and regionally as well as expanding downstream activities.

Edible oils refining

• To explore new opportunities in oleochemical and biodiesel industries.

• To identify other downstream products.

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Oil palm plantations

• Continue the development of its land bank in Indonesia.

• Further improve on its mill extraction rates.

Waste management & utilities

• Continue to engage in the water and waste projects set out in the 9th Malaysian Plan.

• Continue to explore new markets both locally and overseas.

• Leverage on its strategic partnerships in China for growth.

Expansion / Future Plans

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Film exhibition

• To expand cinema business in Klang Valley and East Malaysia.

• Continue to explore new multiplex sites.

Property

• Development projects at :

Taman Aman – comprising 84 units of bungalow, semi-detached and shop houses.

New World Park, Penang – Phase II comprising of F&B outlets

Bedong – Housing Project at Taman Sinar Mentari.

Whiteaways Arcade at Beach Street & Church Street, Penang – Restoration of prewar buildings for retail and commercial activities.

Expansion / Future Plans

25

Proposed Disposals of

PPB Oil Palms Berhad,PGEO Group Sdn Bhd, andKuok Oils & Grains Pte Ltd

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On 14 December 2006, PPB announced that FFM had received a letter of offer from Wilmar stating their intention to acquire the following from FFM: -

In addition, PPBOP, had on even date, received a Notice of Conditional Voluntary Offer from CIMB Investment Bank Berhad , on behalf of Wilmar, to acquire all the ordinary shares of RM1.00 each in PPBOP to be satisfied by the issuance of 2.3 Wilmar Shares for each PPBOP Share.

Introduction – Offers from Wilmar

a) 65.8% equity interest in PGEO for a purchase

consideration to be satisfied by the issuance of

287,122,772 Wilmar shares

b) 28% equity interest in KOG for a purchase consideration

to be satisfied by the issuance of 305,635,556 Wilmar

shares

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* Based on the last traded price of Wilmar Shares on 27 February

2007 of SGD2.61

^ Assuming exchange rate of SGD1.00 = RM2.29

# Representing RM13.75 per PPBOP Share

Equity

interest to be

disposed

No. of Wilmar

Shares to be

received

Sale consideration

SGD* RM*^

PPBOP 55.6% 569,489,427 1,486,367,404 3,403,781,355#

PGEO 65.8% 287,122,772 749,390,435 1,716,104,096

KOG 28.0% 305,635,556 797,708,801 1,826,753,154

TOTAL 1,162,247,755 3,033,466,640 6,946,638,605

Sale Consideration to PPB

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The SC (FIC) had on 17 January 2007, advised that it has no objection to Wilmar’s proposed VGO of PPBOP. Equity conditions may be imposed on PPBOP following verification of acceptance.

The PPB Board appointed AmInvestment Bank Berhad as its Adviser to the Proposed Disposals.

The PPB Board had considered the terms and conditions of the Proposed Disposals, and after considering the advise from AmInvestment Bank, had on 24 January 2007 approved the Proposed Disposals and agreed to present it to the Shareholders of PPB at an EGM for their consideration and approval.

An EGM is tentatively scheduled to be held in early April 2007 for the above purpose.

Approvals of other relevant authorities for the Proposed Disposals are still awaited.

Updates

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PPB will hold approximately 18.2% of the enlarged share capital of the Wilmar Group upon completion of the Proposed Disposals (assuming full acceptances of the VGO by all shareholders of PPBOP).

Enlarged Wilmar Group Structure

PPB KOG Vendors

WHPL ADM Minorities

KOG PGEO PPBOP IPT Assets

Existing Business

WILMAR

19.6%

18.2%12.8%

48.5% 6.7%13.8%

100% 100%65.8% 100%

34.2%

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PPB is expecting to realize a significant amount of

gain in its balance sheets from the Proposed

Disposals.

As at 27 February 2007 RM

Sale consideration 6,946,638,605.00

Market capitalization of PPB

(RM6.00 x 1,185,499,882 shares) 7,112,999,292.00

To unlock the value of PPB’s investments in

PPBOP, KOG and PGEO, and venture into an

investment with higher expected returns and

greater potential for capital appreciation: -

Rationale & Benefits of the Proposed Disposals

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A. Leading merchandiser and processor of palm and

lauric oils in the world

Leading palm and lauric oils refiner in the world with

plantations in Malaysia and Indonesia

Leading merchandiser of palm and lauric oils in most

major markets in the world (China, India, Africa,

Eastern Europe and Middle East)

One of significant palm biodiesel manufacturers

(expected to commence in 2007)

Significant increase in production capacities as

follows: -

Entry into one of Asia’s largest integrated

agribusiness group carrying the entire value

chain of the palm oil business: -

Rationale & Benefits of the Proposed Disposals

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Rationale & Benefits of the Proposed Disposals

(Source: Wilmar’s press conference presentation on 14.12.06)

Activities Wilmar PGEO Combined Group

As at 30 Sep

2006

No. of

plants

Capacity

(MT p.a.)

No. of

plants

Capacity

(MT p.a.)

No. of

plants

Capacity

(MT p.a.)

Refinery – palm

& laurics

18 5,339,400 15 4,719,000 33 10,058,400

Palm kernel &

Copra rushing

15 1,564,200 14 1,237,500 29 2,801,700

Specialty fats 3 166,320 1 150,480 4 316,800

Biodiesel

(All plants under

construction)

3 1,050,000 1 100,000 4 1,150,000

Significant increase in production capacities

(Indonesia and Malaysia)

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Rationale & Benefits of the Proposed Disposals

B. Sizeable plantation owner in Indonesia and Malaysia

2nd largest land bank in Malaysia after the proposed Synergy Drive

One of the largest oil palm plantation companies in the world in

terms of land bank

Plantation statistics

As at 30 September 2006

Wilmar PPBOP Combined

Group

Landbank (ha) 210,000 363,405 573,405

Total planted area (ha) * 64,672 96,114 160,786

Mature area harvested (ha) * 54,844 67,475 122,319

FFB production (tonne) 742,632 1,081,309 1,823,941

Palm oil milling capacity (MTp.a.) 6,690,000 2,275,000 8,965,000

Mill production

Crude palm oil (tonne) 606,562 300,063 906,625

Palm kernel (tonne) 143,196 61,360 204,556

(Source: Wilmar’s press conference presentation on 14.12.06)

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Rationale & Benefits of the Proposed Disposals

C. Dominant presence as merchandiser and processor of

edible oils and oilseeds in China

KOG Leading merchandiser of consumer

pack edible oils

One of the largest manufacturers

of oleo-chemicals

Manufacturing facilities in flour

and feed milling, specialty fats, oil

seeds crushing and refining

WHPL & ADM Largest oilseed crusher and edible

oils refiner

Leading merchandiser of consumer

pack edible oils

One of the largest manufacturers of

oleo-chemicals

Manufacturing facilities in flour and

rice milling and specialty fats

Fully integrated group from processing of oilseeds to

merchandising of finished agricultural products

Largest oilseed crusher, edible oils refiner, specialty fats and oleo-

chemical manufacturer and merchandiser of consumer pack edible

oils

(Source: Wilmar’s press conference presentation on 14.12.06)

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Rationale & Benefits of the Proposed Disposals

Growth opportunities and presence in processing

and merchandising of agriculture products in

China

A. Significant increase in the production capacities in China

in respect of edible oils, oilseeds and grains as follows: -

Activities WHPL KOG Combined Group

As at 30 Sep 2006 No. of

plants

Capacity

(MT p.a.)

No. of

plants

Capacity

(MT p.a.)

No. of

plants

Capacity

(MT p.a.)

Soya bean and

oilseeds crushing

11 7,309,500 3 802,000 14 8,111,500

Refinery 17 2,557,500 11 2,399,000 28 4,956,500

Consumer oil

packaging

11 1,106,490 10 2,983,200 21 4,089,690

Oleo-chemical 1 120,000 1 116,000 2 236,000

Specialty fats 1 66,000 3 330,000 4 396,000(Source: Wilmar’s press conference presentation on 14.12.06)

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Rationale & Benefits of the Proposed Disposals

Unified brand identity

Unified procurement and logistics activities

Lower procurement costs for main cost items, e.g.. Fertilizers

Better logistics management/transport efficiencies

Human resource optimization

Sharing of distribution network

Expansion of customer base

Common sales and marketing force

Extensive consumer pack edible oils distribution network

Additional international outlet for its products

May utilize milling and refining capacity of Wilmar for its FFB

production

Opportunity to combine palm oil assets and

benefit from the synergies arising from the

merger

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Effects of Proposed Disposals on PPB

Will be disclosed in the circular

to shareholders,

to be issued at a later date.

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THE END