Incorporated in the Isle of Man on 26 January, 1987, Overseas & General Limited (OGL) is listed on Australian Stock Exchange (ASX) and on CLOB International, Singapore. OGL, an investment holding company, sought its early beginnings in the gold mining business in Ecuador, where it was involved in exploration and mining of gold and energy resources.
By the mid 1990’s, we were progressively transforming ourselves away from a narrow Ecuadorian mining and exploration profile to a timber based profile.
The Asian economic crisis in the late 1990s impacted the markets of our PNG timber operations. The severity of the financial and economic woes forced the suspension of OGL’s timber operations in PNG and Fiji and resulted in severe loss of carrying values of OGL’s investments in these countries. In 2000, shareholders approved a capital and debt restructuring exercise, which was successfully completed by mid 2001.
Throughout the regional economic crisis and its aftermath, both the board and management remained focused on re-building values for the shareholders. Every operation is focused on achieving, firstly, self-sustainability, and secondly, delivering a realistic return to shareholders within a specified time-frame.
In April 2004, shareholders approved the redemption of the company’s convertible bonds via the sale of OGL’s non-core assets to its former parent company and bondholder, Land & General Berhad.
OGL’s strategy is now sharply focused on creating and delivering value for our shareholders. We are investing to grow and diversify our business portfolio. OGL’s businesses shall be strategically positioned to achieve strong growth in the market place and deliver returns for its shareholders and investors.
We are committed to future growth through diversification, and facing challenges head on. Most importantly, we are committed to earning the confidence of our customers, employees, and shareholders.