It ventured into plantation sector in 2007. With asset prices generally lower now, they are looking at expanding their plantation landbank in Kalimantan, Indonesia.
It also has operations in livestock, has so far invested Rm220 million in buying and developing plantations in Kalimantan. The funds were mainly internally generated, with bank borrowings of US$26 million.
It is expecting contributions from its plantation division to start rolling in from 2012 and feels that it will become a major earnings contributor to the group in the future.
As at Dec 31, 2008, its cash and cash equivalent stand at RM93 million, while long term borrowings amount to RM92 million.
11 hours ago
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