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Author: Stockpick2U Dr   |   Latest post: Mon, 5 Oct 2020, 9:46 AM

 

TDM Berhad completed the acquisition of 70% Stake in THP-YT Plantation Sdn Bhd

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By Stella Goh

 

TDM Berhad was established on 1 December 1965 and was listed on Main Market of Bursa Malaysia in 1970. TDM is a company in palm oil cultivation and healthcare industry after restructuring its new direction in 2004.

TDM develops and manages 16 oil palm plantations and 3 palm oil processing plants. The state of TDM is located in Terengganu and Kalimantan Barat. TDM’s three palm oil processing plants are located in Sungai Tong, Kemaman, and Nanga Pinoh. In addition, the company has three bio composting plants and one biogas plant in Malaysia and Indonesia. At present, the company’s plantations in Terengganu (31,295 Ha) and Kalimantan (10,727 Ha) have 42,022 Ha of oil palm plantations.

According to the chairman of TDM, Raja Datuk Idris Raja Kamarudin, acquisitions are a part of the company’s overall strategy which can helps to improve the average age distribution of palm oil and reduce income volatility. TDM has acquired a 70% of stake in THP-YT Plantations Sdn Bhd, which can effectively increase the total planting area of TDM in Terengganu from 31,146 Ha to 33,653 Ha. As THP-YT is now a group of subsidiaries, TDM has now taken over the management amount operation of 2,594.5 Ha of Bukit Bidong estate.

In a press release, TDM’s Managing Director, Raja Datuk Idris Raja Kamarudin, under their business development plans, the company has been looking for potential land parcels with the aim of achieving value-added acquisitions in the plantation and healthcare sectors. The 70% stake in THY-YP plantation was acquired by TH Plantations Berhad and Yayasan Terengganu was the remaining 30% owner of the company. Raja Idris also noted that Bukit Bidong’s 3 Plantations in Setiu, Terengganu have younger oil palms, ranging from two to nine years old.

The acquisition was part of TDM program, which was expanding its local planting area and gaining more acreage in Terengganu. In addition, Bukit Bidonog estate is located near TDM’s existing plant in Sungai Tong. Therefore, the acquisition is expected to optimize the processing capacity and efficiency of Fresh Fruit String (FFB) and further reduce the processing cost of processing plants per tonnes.

TDM believes the strategic value creation gained from the acquisition will be translated into operational efficiency, thereby improving the profitability in the long run. TDM Plantations Sdn Bhd, a wholly-owned subsidiary of TDM, is certified by the Round Table on Sustainable Palm Oil (RPSO) and Malaysia Sustainable Palm Oil (MSPO).

 

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Labels: TDM

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Chart Stock Name Last Change Volume 
TDM 0.315 +0.005 (1.61%) 34,115,900 

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