The Board of Directors of Ta Ann Holdings Berhad ("Ta Ann" or "the Company") wishes to announce that the Company is optimistic of a turnaround ahead for Ta Ann Group’s timber segment, particularly due to the shortage of raw materials and increase in housing demands in Australia, USA as well as other consuming countries.
Moreover, as all the logs we use as raw materials for our wood-based products come from our sustainably managed MTCS-PEFC certified forest management units, our timber division is well positioned to meet the anticipated demand recovery in plywood. This, coupled with the prudent cost control measures we have put in place, are the reasons why we have been able to sustain our logs and plywood production.
In the earlier part of year, the general market consensus was that CPO prices will soften after the second half of 2021. However, the opposite proves to be true and the CPO prices surged up to RM4,600/mt from RM3,800/mt in June 2021 before moving uptrend in the beginning of July 2021. We expect present price level to be sustained well into 2022.
Moving forward, we foresee the same will enable us to further sustain our production level and drive the earnings momentum of our Group.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....