TA Securities Research said, in a report, United Malacca’s management expected FY21’s FFB (fresh fruit bunch) production to be higher due to better yields, age profile and an increase in mature area in oil palm estates in Kalimantan, Indonesia.
PETALING JAYA: United Malacca Bhd
’s forecast earnings for the current and next financial years have been revised down by TA Securities Research, which cited lower margins and higher finance costs.
The research unit said it had revised the plantation group’s FY21 (financial year ending April 30,2021) and FY22 earnings forecast by 21% and 15%, respectively, while also forecasting FY23 earnings of RM48.9mil (9% higher year-on-year).
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