Halcyon Agri Corporation is venturing into Myanmar with talk of a deal involving the government.

Executive director and chief executive Robert Meyer said yesterday that while the deal will be "tiny" in value, "it would give us exposure to the market that right now we have no exposure to".

The remarks came as the natural rubber supplier reported an 84 per cent plunge in fourth-quarter earnings to US$11.6 million (S$15.3 million) from a year earlier. This was due to the absence of a one-off US$90.3 million net bargain purchase on the acquisition of GMG Group and Sinrio Group for 2016.

However, fourth-quarter revenue increased 16.9 per cent to US$469.4 million, mainly due to higher rubber prices.

Net profit for the full year dipped 33.5 per cent to US$31.7 million while turnover more than doubled to US$1.99 billion.

Earnings per share stood at 0.68 US cent for the three months to Dec 31, down from 4.87 US cents a year earlier.

Halcyon Agri has discontinued operations for its processing business in Thailand, which has been classified as an asset held for sale following a review in the first half last year. Mr Meyer said he plans to address the state of flux of the business in Thailand "in the next two quarters".

The group is proposing a dividend of two Singapore cents a share, comprising a final dividend of one cent and a special dividend of one cent.

Mr Meyer said yesterday that the firm's new operating structure is in three categories: Halcyon rubber and plantations, which includes its global non-tyre and speciality tyres business; Halcyon rubber company, which holds its global tyre majors business; and Sinrio, which consists of Chinese tyre majors.

Halcyon Agri shares closed up 0.5 cent to 64.5 cents yesterday.