(From Business Times (Malaysia))
TH GROUP Bhd expects better earnings this year as its plantation division benefits from higher crude palm oil (CPO) prices.
While CPO prices last year averaged RM1,400 per tonne, the plantation division contributed 47 per cent, or RM134 million, to total revenue. For the year ended December 2003, TH Group made a net profit of RM4.7 million on RM285.5 million revenue.
"We expect higher earnings now that prices have gone up to almost RM2,000," TH general manager plantation Wang Jun Ngi told visiting journalists at its Sungai Pin, Lahad Datu, Sabah, plantations recently.
Sabah-based TH Group is involved in …