TH Plantations’ assets disposal to complete in 12 months | Malay Mail

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KUALA LUMPUR, Nov 26 — TH Plantations Bhd has commenced efforts to sell its group’s assets within 12 months, citing challenging operating conditions amid the Covid-19 pandemic. In a filing with Bursa Malaysia today, it said investment in Bumi Suria Ventures, Maju Warisanmas, TH Pelita Meludam,...

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KUALA LUMPUR, Nov 26 — TH Plantations Bhd has commenced efforts to sell its group’s assets within 12 months, citing challenging operating conditions amid the Covid-19 pandemic.

“The pandemic and the closure of Malaysian borders since the first quarter have made operating conditions challenging. The disposal of 70 per cent equity interest in THP-YT Plantation Sdn Bhd was completed in the third quarter of 2020, with a RM7.94 million net loss incurred. It added that the average selling price for crude palm oil , fresh fruit bunches and palm kernel improved by 32.59 per cent at RM2,540.09 per tonne, 46.35 per cent at RM505.62 per tonne, and 28.45 per cent at RM1,419.61 per tonne, respectively.Meanwhile, the group continues to perform better on the operational level.

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