IOI expects higher output to offset lower palm oil prices

Moody's says IOI Corp would be left with reduced business diversity and would be wholly exposed to the cyclical nature of crude palm oil (CPO) prices after the disposal of its property businesses.

KUALA LUMPUR: IOI Corp Bhd expects rising palm oil production from its estates to offset the impact of projected lower selling prices in the current financial year ending June 30, 2018 (FY18).

IOI Corp posted a net profit of RM317.5mil in the fourth quarter ended June 30, boosted by net translation gain on its foreign currency denominated borrowings and derivative financial instruments that amounted to RM156mil.