Nobody

Happiness can only be achieved HERE AND NOW

Friday, June 27, 2008

Oriental plans RM600m plantation expansion

Oriental plans RM600m plantation expansion

27-06-2008:
by Regina William

PENANG: Oriental Holdings Bhd is planning to restructure and expand its plantation sector, involving an expenditure of an estimated RM600 million, as part of its long-term strategy to boost its oil palm acreage. The group is also considering listing its plantation arm in the next few years.

Its chairman Datuk Loh Cheng Yean said plans included increasing the present 40,000ha, located in Malaysia and Indonesia, to 60,000ha within the next two to three years. It is expected to involve investments of RM600 million.

“Most of our expansion will be focused in Indonesia. We are going to increase our acreage for oil palm both in Malaysia and Indonesia as we are doing very well in this sector. Our intention is not only to leverage on the high prices of the raw commodity now but also our expansion is part of our business strategy.

“As a group, this business is ideal for us and since we are also involved in development projects, it augurs well for us,” said Loh after the company’s AGM. He added the company had identified several sites both in Malaysia and Indonesia and negotiations were still underway.

“We are also looking at investing in the plantation industry in other countries in the region as part of our expansion plans in the next few years. Due to our performance in this sector, the group is also contemplating to list the plantation division within the next few years,” Loh added.

The plantation subsidiaries of the group enjoyed a highly profitable year with the Indonesian plantations producing a record crop of 512,378 tonnes in 2007 compared to 399,990 tonnes in 2006. However, in Peninsula Malaysia, total yield for the year amounted to 92,956 tonnes in 2007 compared to 104,691 tonnes in 2006.

The decrease was attributed to the palms suffering stress due to the high yields in 2006 but it was compensated by the higher commodity price averaging RM514 per tonne compared to RM290 in 2006.

The plantation sector is also expected to boost the group’s earnings this year while the push for biofuel as an alternative energy source by goverments coupled with higher soybean oil prices were also expected to benefit this sector.

The group recorded RM4.5 billion revenue in 2007, an increase of 13.9% from RM3.9 billion in 2006 while pre-tax profit was at RM500 million, a 16.6% rise from RM334.1 million in 2006.

Posted by Nobody at Friday, June 27, 2008
Labels: Economics, Malaysia, Penang

No comments:

Post a Comment

Newer Post Older Post Home
Subscribe to: Post Comments (Atom)

Blog Archive

  • ►  2011 (15)
    • ►  July (15)
  • ►  2010 (83)
    • ►  December (2)
    • ►  November (1)
    • ►  October (9)
    • ►  September (2)
    • ►  August (13)
    • ►  July (2)
    • ►  June (4)
    • ►  April (8)
    • ►  March (2)
    • ►  February (9)
    • ►  January (31)
  • ►  2009 (425)
    • ►  December (31)
    • ►  November (10)
    • ►  October (7)
    • ►  September (4)
    • ►  August (18)
    • ►  July (21)
    • ►  June (10)
    • ►  May (37)
    • ►  April (68)
    • ►  March (153)
    • ►  February (43)
    • ►  January (23)
  • ▼  2008 (2711)
    • ►  December (28)
    • ►  November (46)
    • ►  October (61)
    • ►  September (308)
    • ►  August (361)
    • ►  July (443)
    • ▼  June (660)
      • Exercise Arthritis Away?
      • Omega-3 Foods May Lower Eye Disease Risk
      • How Exercise Fights Arthritis
      • Anwar ups ante with police report against IGP, A-G
      • New electricity tariff takes effect today
      • Anwar's ex-speech writer sends support note
      • The Oil-for-Food scandal revisited
      • 'My plans have been derailed'
      • Forensic team gathers evidence at RM2.2 mil luxury...
      • US cautions over sex charges against Anwar
      • Venom pity questions as bloggers debate claims
      • Revisiting Malaysia’s Social Contract
      • Support from Saiful's family
      • Three ministers deny knowing Anwar’s aide
      • Najib: Chinese will not be left out in Ninth Plan
      • Face police probe if you’re innocent, says Mohd Ali
      • Politically correct, Morally wrong?
      • Najib denies involvement in Anwar sodomy allegation
      • That reminds me……. (by Raja Petra)
      • Malaysia-Turkey relationship tense in Anwar standoff
      • Malaysia’s Neutralized Nuclear Threat
      • Sabah, Sarawak demand more
      • Anwar files suit against Saiful
      • Malaysia’s Jungle Train Loses its Trees
      • Malaysian oppposition leader accused of sodomy, again
      • 1998 All Over Again?
      • Transit girls for lorry drivers?
      • No reason for us to smear him, says Khairy
      • Ambassador to be summoned to Wisma Putra
      • Anwar wants PM's guarantee to leave embassy
      • It's all a conspiracy, says Anwar
      • Cops: OCPD in sodomy bid
      • A hero turned dictator
      • Saudis have influence over oil price
      • Baby to be born free of breast cancer
      • Gaji CEO TNB
      • Australian women embrace technology into their sex...
      • Celebrity bloggers rule the roost
      • Anwar's latest statement
      • Police appeal: Let's not have trial by media
      • Welcome to Deputy Prime Minister Office!!!
      • WAN AZIZAH: Sodomy report an attempt to kill Anwar...
      • BN assemblyman slammed over racial slur
      • Khalid: I advised Anwar's brother to quit
      • The Police Report that Saiful made
      • Anwar to file report against IGP and AG
      • Six Keys To Lifelong Love (by Dr. James Dobson)
      • Treating RA
      • Angin and Cancer
      • Anwar receives death threats, in hiding (Update 3)
      • Mahathir Mengaku Anwar Ibrahim Dizalimi & Tidak Be...
      • Anwar Ibrahim faces sodomy in...
      • Anwar vs Barisan and reactions from Pakatan
      • Half-hour op took away a decade of pain
      • ANWAR IBRAHIM PRESS STATEMENT
      • MCA's top two leaders to step down
      • Manure thief falls into dung, flees naked
      • PM: BN not behind latest Anwar allegation (updated)
      • Sunday June 29, 2008Anwar denies sodomy claimsBy L...
      • Latest figure on Zimbabwe's Annual Inflation
      • Is Najib Eyeing Abdullah’s Job?
      • Ali Rustam Going Overboard, Says SAPP
      • Two sue Raja Petra over statutory declaration
      • PRESS STATEMENT BY YABhg TUN DR MAHATHIR BIN MOHAMAD
      • Anwar's brother quits job after Ezam barb
      • Blame those who shelved projects, Lim tells Koh
      • Re-purposed Malaysian folk medication reduces resi...
      • Zoe Tay's modest pose for magazine
      • Abdullah not prepared to go meekly
      • Asian nations need 'clearer resolve' to tackle inf...
      • Warren Buffett lunch sells for record $2.88mJun 28...
      • Bill Gates bids a teary farewell to Microsoft
      • We couldn't consummate our marriage
      • Globalization Comes Under Siege
      • Minister accused of cheating in exam
      • The truth about home remedies
      • Locals featured in Segamat sex videos
      • Agony of foreign spouses for PR - the worst cases
      • Like daughter, like father
      • Najib statement causes a buzz
      • Ahmad Shabery and Anwar for ‘fuel duel’ on July 15
      • PAS leader slams Khalid and Guan Eng
      • Raja Petra Might Face Action - Police
      • What is so subjudice to discuss about Raja Petra’s...
      • AI warns of rights violations in Malaysia's expuls...
      • Group forging govt documents crippled
      • Voters led to polls in Zimbabwe 1-candidate runoff
      • Feud between Nazri and Backbenchers worsens
      • Syabas to seek 40% increase in water tariffs next ...
      • Give Dr M a chance to say his piece, says Karpal
      • Woman Gets Two Years for Aiding Nigerian Internet ...
      • Commodity prices will come down, says Marc Faber
      • Oriental plans RM600m plantation expansion
      • Nasharuddin: No meetings with Umno
      • The Macleans.ca Interview: George Soros
      • Bill's billions: the big giveaway
      • 10 health threats for men
      • Amnesty International: Set up Royal Commission on ...
      • Teenage Sexuality
      • Sex Therapy for secret turn-ons
    • ►  May (519)
    • ►  April (285)

Labels

  • Abdullah (504)
  • Airline (2)
  • Altantuya (143)
  • Anwar (687)
  • Ayurveda (6)
  • Blog (64)
  • Cancer (42)
  • China (32)
  • Daim (6)
  • Death (14)
  • Detoxify (7)
  • Economics (340)
  • Education (53)
  • Enema (5)
  • Ezam (32)
  • Financial Crisis (3)
  • Health (193)
  • Hishammuddin (13)
  • Inflation (150)
  • Irena Sendler (1)
  • Joke (5)
  • Karpal (24)
  • Khairy (45)
  • Khir (24)
  • Lim Kit Siang (27)
  • Mahathir (311)
  • Malaysia (2284)
  • Marc Faber (16)
  • MAS (1)
  • Meditation (19)
  • Michael Backman (2)
  • Misc (57)
  • Myanmar (17)
  • Najib (352)
  • National Service (21)
  • News and Politics (2092)
  • Odd News (59)
  • Penang (36)
  • Pictures (9)
  • Police (2)
  • Quotes (6)
  • Raja Petra Kamarudin (417)
  • Religion (178)
  • Rosmah (41)
  • Sabah (77)
  • Science (14)
  • Sex (149)
  • Singapore (99)
  • Soros (10)
  • Technology (36)
  • Tengku Razaleigh (4)
  • Tony Pua (2)
  • Video (9)
  • Warren Buffett (13)
  • Zaid Ibrahim (11)

Body And Soul

  • Beauty
  • Green blog
  • Your Health

Number of Visitors

Free Hit Counters
Free Hit Counters