With cash reserves of about RM70 million, Kim Loong Resources Bhd is in good position to acquire more land.
It has plans to expand its landbank and we hope something will come out soon. With a total landbank of 32,000 acres, the company was looking at areas in Southern Johor, Sabah and Sarawak for its land acquisition. However no fixed allocation had been set for the acquisition which would be funded through cash and borrowings.
The company's plantations were mostly also matured and generating income and would help fund the development of new plantations.
The company will be also launching its new health supplement product namely E-LifeGold by next year. E-LifeGold is a tocotrienol-based product, which is a natural form of Vitamin E extracted from the fruits of oil palm.
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