QL Resources Bhd ... Sept 2008

QL is an agriculture-based company, with business in marine product manufacturing (production of semi-processed raw fish paste surimi, fish meal and seafood), integrated livestock farming (egg farming and trading of animal feeds), crude palm oil milling and oil palm plantation.

Financial Results

QL also achieved a 40% growth in revenue for its palm oil activities in FY08. For its first quarter ended June 30 2008, QL posted a net profit of RM23.3mil, up 42.9% from RM16.3mil in the previous corresponding quarter. Revenue expanded by 16.1% to RM364.5mil from RM313.9mil previously. Earnings per share is 6.5 sen per ordinary 50 sen share.

Going Forward

It is setting aside RM170mil for capital expenditure in the financial year ending March 31, 2009 (FY09) to cater to its regional expansion.

The company would continue to enhance its overseas presence in Vietnam and Indonesia.

They will also be increasing our production capacity in integrated farming, involving breeder and broiler farming, in Kuching and parts of east Malaysia.

The company has recently acquired a poultry egg producer in Kulim with a daily output of 330,000 eggs. With this acquisition, the group’s total egg production is about two million per day.