PPB Group Bhd, a Malaysian plantations and property group controlled by tycoon Robert Kuok, plans to return cash to shareholders after selling its sugar-refining business.

PPB plans to pay a special dividend of 65 sen per share and a 5 sen interim dividend, the Kuala Lumpur-based company said in a filing today. The company sold its sugar-refining business to Malaysia's state-owned Federal Land Development Authority in October for more than RM1.2 billion.

Second-quarter net income fell 20 per cent from a year earlier to RM317.7 million, PPB, which owns 18 per cent of Singapore-listed Wilmar International Ltd, said in a separate filing. PPB's flour and feed-milling division recorded higher profits, while contributions from Wilmar fell, it said.

'The recent increase in commodity prices and uncertainties in currency exchange rates would have an impact on the group's operating results,' PPB said in a statement. Even so, full-year profit will be higher following the sale of sugar-related assets, it said. - Bloomberg