Chairman Datuk Abdul Hamed Bin Haji Sepawi expects large contributions from oil plant division

 

The Chairman of Ta Ann Holdings Berhad has attributed the increasing rate of production from the oil plant division to the increased efforts towards regeneration and new plantations, writes the Borneo Post.

SIBU: Ta Ann Holdings Bhd (Ta Ann) expected its oil palm division to contribute robustly to the group’s coffers going forward.

Ta Ann executive chairman Datuk Abdul Hamed Sepawi said this was because its planted area had grown to 35,000 hectares with approximately 26,000ha being matured and productive.

“Estimated fresh fruit bunch (FFB) production for this year is 596,000 metric tonnes while crude palm oil (CPO) output is expected to register 101,000 metric tonnes.

“Our second CPO mill at Kuala Igan with 90 metric tonnes per hour capacity will undergo construction this year and is scheduled to commence production by second half of next year,” he said in his message in Ta Ann’s annual report 2011.

He also said in its ongoing effort to grow the oil palm division, it would carry out new planting of between 3,000 to 4,000 ha on its existing land bank as it was also seeking opportunities to expand.

Meanwhile, Abdul Hamed said Ta Ann had registered RM926 million in revenues for the financial year ended December 31, 2011.

He said this was an increase of 12 per cent from RM827 million registered in 2010, it also saw the profit before tax increasing by 121 per cent to RM218 million.

“The net profit after tax of RM161 million was 122 per cent higher year on year, which translates intoearnings per share of share 50 sen,” he said.

On equity attributable to owners of the company, he said it grew from RM814 million in the previous year to RM938 million in 2011 while return on equity for the year under review was 17 per cent.