United Malacca to see sequential growth thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR (March 16): Based on corporate announcements and news flow today, companies in focus on Wednesday (March 17) may include: Berjaya Corp Bhd (BCorp), Classic Scenic Bhd (CScenic), Complete Logistic Services Bhd, Daya Materials Bhd, FGV Holdings Bhd, My E.G. Services Bhd (MyEG), Sime Darby Plantation Bhd, Superlon Holdings Bhd, Time dotCom Bhd, Top Glove Corp Bhd and United Malacca Bhd.
Berjaya Corp Bhd has appointed Abdul Jalil Abdul Rasheed as its new chief executive officer, the first time someone outside the Tan family will hold the position. The former CEO of Permodalan Nasional Bhd will take over from Datuk Seri Robin Tan, who was promoted to executive deputy chairman of the conglomerate.
IOI Corp Bhd is expected to harvest pineapples and other cash crops in early 2022 at its Sagil estate in Tangkak, Johor. (File pic shows Sagil Estate planted with oil palms.)
PETALING JAYA: More oil palm plantation companies are venturing into agriculture-related businesses, from dairy farming to pineapple and coconut cultivation, on a large-scale basis in their efforts to further diversify income streams. is expected to harvest pineapples and other cash crops in early 2022 at its Sagil estate in Tangkak, Johor.(pic)
The group said some 25,000 MD2 pineapples have been planted each month since August 2020.
“By December 2020, a staggering 125,000 MD2 pineapples had been successfully planted with the minimal workforce.
has locked in forward sales for 50% of its monthly production up to June this year at a price of about RM3,000 per tonne.
Kenanga Research, in a note, said it had met up with the company’s management and felt “more optimistic on its long-term prospects.’’
It said the company expected financial year (FY) ending April 30,2021 to 2022 fresh fruit bunch (FFB) growth of 12%-15%/10%-12% (versus the research house’s estimates of +10%/+4%).
This growth will be driven by abundant rainfall and better yields from its Indonesia estates as its young age profile improves.
It said the upside to its FFB growth estimate is the key positive takeaway from its meeting with the management.
Positive signs: Crude palm oil continues to extend its rally trading above RM3,800 per tonne. Reuters
PLANTERS ushered in the new year in a euphoric mood as crude palm oil (CPO) continues to extend its rally trading above RM3,800 per tonne, which is almost a decade-high price.
However, despite the higher CPO prices, most planters are expecting mixed performance in their earnings outlook for this year with the industry currently facing severe workers shortage in the estates.
This situation has turned for the worst with the spread of the Covid-19 pandemic that restricts foreign workers recruitment which could lead to crop losses in the labour intensive oil palm sector.