Palm oil giant FGV Holdings Bhd is hopeful of posting positive results for FY20, despite a challenging first quarter which saw its plantation segment swing to a loss. This will be driven partly by the anticipation that the projected lower fresh fruit bunch production will be offset by FGV’s cost-cutting measures and expectations that crude palm oil prices will stay afloat. Separately, FGV said it will also continue divesting its non-core assets with a target of RM150 million sale proceeds this year. These include the planned sale of Trurich Resources Sdn Bhd and Asian Plantations Ltd.
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Posted by Mabel > 2020-06-21 21:29 | Report Abuse
Palm oil giant FGV Holdings Bhd is hopeful of posting positive results for FY20, despite a challenging first quarter which saw its plantation segment swing to a loss. This will be driven partly by the anticipation that the projected lower fresh fruit bunch production will be offset by FGV’s cost-cutting measures and expectations that crude palm oil prices will stay afloat. Separately, FGV said it will also continue divesting its non-core assets with a target of RM150 million sale proceeds this year. These include the planned sale of Trurich Resources Sdn Bhd and Asian Plantations Ltd.