Boustead Holdings deputy chairman/group managing director Tan Sri Lodin Wok Kamaruddin said the group's stronger performance was driven by gains from the disposal of plantation lands.
Petaling Jaya: Boustead Plantations Bhd
is looking to sell more land as it seeks to hive off “non performing assets.”
It’s vice-chairman Tan Sri Lodin Wok Kamaruddin said whether more land deals would materialise in its FY19 ending Dec 31 would depend on whether they can secure buyers for some of its land.
“These land that we are looking to sell can be used for property development but we prefer to sell the land to let another party develop it,” he said.
The company netted a record net profit last financial year largely due to a one time gain of RM500mil after monetising it’s land.
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