History
The Asian Palm Oil Limited (Public) Company produces crude palm oil from fresh palm fruit purchased from general farmers.
The production of crude palm oil from fresh palm fruit purchased from general farmers is the starting point for the establishment of Asian Palm Oil Limited (public) company (APO). The company was founded by the Udompholkul family, including Mr.Denpong Udompholkul,Mr.Nipon Udompholkul, and Mr.Niphan Udompholkul, who are the children of Mr.Denpong Udompholkul. They have followed and co-founded the crude palm oil extraction factory business located in Ao Luek District, Krabi Province.
Throughout the past 40 years, the company has seen continuous growth
The company was established in the form of a limited company called ‘Asian Palm Oil Company Limited’ on December 8, 2526, with a registered capital of 2.00 million Thai Baht.
The company’s primary business is the production of crude palm oil and the distribution of products extracted from crude palm oil. It started with a production capacity of 10 tons of fresh palm fruit bunches per hour. The business has continuously grown and been passed down through generations. Currently, the company is managed by the third generation, Mr. Sitthipas Utumpornkul, who is the son of Mr. Nipon and the grandson of Mr. Denpong. Udompholkul.
In 2547 (2004), the company signed an electricity purchase agreement with the Provincial Electricity Authority (PEA) for Very Small Power Producer (VSPP) type electricity generation, with a maximum electrical output not exceeding 1 megawatt, operating at an electrical pressure level of 33,000 volts. The electricity purchase point is located at the company’s main office, which is also the location of the power plant.
In 2550, the company achieved ISO 14001 international environmental management standards certification. It has also received awards for alternative energy development and various other environmental management initiatives.
In 2561, with the new management’s vision and the use of technology, the company conducted data analysis on the extraction of crude palm oil. It found that a critical factor affecting the Oil Extraction Rate (OER) is the quality of fresh palm fruit bunches (FFB) used in the production process.
The company recognized the importance of sourcing high-quality FFB to enhance its competitiveness. Emphasizing high-quality raw materials will increase oil production rates per unit produced and result in excellent quality crude palm oil.
In 2561 (2018), with a vision set by the new generation of management that leverages technology for analyzing crude palm oil extraction data, it was found that key factors affecting the Oil Extraction Rate (OER) are the quality of the fresh fruit bunches (FFB) entering the production process.
Recognizing the importance of sourcing high-quality FFB as a means of enhancing oil extraction rates, the company has taken steps to improve the quality of FFB, ultimately increasing the oil yield.
The company’s commitment to environmental responsibility and community welfare remains a constant throughout its history.
The company has recognized the importance of sourcing high-quality fresh palm fruit bunches (FFB) to enhance its competitiveness. Emphasizing the significance of high-quality raw materials, it can increase the oil production rate per unit, resulting in high-quality crude palm oil (CPO) that can be sold at premium prices in the market. This also builds confidence in controlling the quality of premium products.
To promote FFB farmers’ understanding of quality palm fruit bunches, the company established the “Asian Plus+” project, which is aimed at enhancing farmers’ knowledge and understanding of harvesting high-quality FFB.
Those who participate in the project must register with the company and sign a Memorandum of Understanding (MOU) that outlines the quality criteria for the FFB supplied to the company. The “Asian Plus+” project has seen continuous interest from members who supply high-quality FFB to the company.
As a result, the company has achieved a clear increase in its oil extraction rate compared to the period before the “Asian Plus+” project was introduced. Currently, the company maintains a high ranking in the oil extraction rate among crude palm oil mills in the region, based on the ranking by the Krabi Provincial Commercial Office.
The company is currently engaged in the business of extracting crude palm oil (CPO) and distributing primary products derived from crude palm oil extraction, as well as by-products, which include palm kernels (PK), shells, empty fruit bunches (EFB), palm acid oil (PAO), and fiber. These by-products are used as biofuel in the production process.
This can add value to the selling price of crude palm oil that is higher than the general market price. This instilled confidence in controlling the quality of premium-grade products. The company initiated the ‘Harvest Good Quality Palm’ project, also known as ‘Asian Plus+’ to promote the knowledge and understanding of high-quality fresh palm fruit bunch harvesting among partner palm oil farmers.
Participants in the project must register with the company as per the specified procedures and enter into a Memorandum Of Understanding (MOU) on the quality criteria of fresh palm fruit bunches sold to the company.
The Asian Plus+ project gained significant interest, leading to a consistent supply of high-quality fresh palm fruit bunches to the company. This resulted in a clear increase in the company’s Oil Extraction Rate (OER) when compared to before the company initiated the Asian Plus+ project. Currently, the company’s Oil Extraction Rate (OER) ranks at the top among crude palm oil extraction plants, according to the rankings provided by the Krabi Provincial Commercial Office.
The company is currently engaged in the business of crude palm oil extraction and the distribution of primary products derived from crude palm oil extraction, as well as power generation from biogas to supply to the Provincial Electricity Authority. The company is dedicated to building a sustainable and environmentally responsible agricultural business, delivering high-quality products at reasonable prices. This is achieved through efficient raw material sourcing and production processes, adhering to ethical and policy guidelines, and placing importance on benefiting all stakeholders.
Shares, the board of directors, executives, and employees, as well as partners, customers, competitors, and responsibility to society and the environment, especially the local community, are categorized by the company’s business and products as follows:
Crude palm oil extraction and distribution of main products obtained from crude palm oil extraction and by-products
Main Products
- Crude Palm Oil (CPO)
- Palm Kernel (PK)
By-Products:
- Palm Shell
- Empty Fruit Bunch (EFB)
- Palm Acid Oil (PAO)
- Palm Fiber
- Used as fuel in the production process.
Production of electricity from biomass gas for distribution to regional electricity authorities.
Product: Electricity supplied to the Provincial Electricity Authority (PEA) under a power purchase agreement from Very Small Power Producers (VSPP) and distributed to regional electricity authorities at a maximum electricity capacity not exceeding 1 megawatt at a voltage level of 33,000 volts.
Additionally, as resolved at the Annual General Meeting of Shareholders for the year 2023, held on April 28, 2023, the company has transformed into a public limited company and changed its name to ‘Asian Palm Oil Limited’ and increased its registered capital from 50.00 million Thai Baht to 170.00 million Thai Baht by issuing ordinary shares to the public, with 100.00 million shares at a par value of 0.50 Thai Baht per share to support the Initial Public Offering (IPO) and list the shares on the Market for Alternative Investment (mai).
Company Timeline
Establishment Period
เว้นอันนี้ไว้ไม่ต้องใส่ (ห้ามลบ)
เว้นอันนี้ไว้ไม่ต้องใส่ (ห้ามลบ)
Received investment promotion from the BOI for a production capacity of 10 tons of fresh palm fruit bunches per hour.
The construction project was completed and operational.
production capacity was expanded to 30 tons of fresh palm fruit per hour. It has been promoted by the BOI.
The registered capital was increased to 84 million Baht, and all shareholders are Thai citizens.
Expanded production capacity to 45 tons of fresh palm fruit bunches per hour.
Developing a biogas production system from wastewater to reduce environmental pollution and generate electricity from biogas as a renewable energy source.
Received the THAILAND ENERGY AWARDS 2007.
Received the ASEAN AWARDS.
Received the ISO 14001 Environmental Management Standard.
Entered into a continuous electricity purchase agreement with the Provincial Electricity Authority (PEA).
Expanding production capacity to 60 tons of fresh palm fruit bunches per hour.
Increasing the registered capital to 120 million baht to support business expansion and as working capital.
Approved the transformation of the company from a limited company to a public limited company and changed the company’s name to ‘Asian Palm Oil Company Limited (Public).
