PETALING JAYA: United Malacca Bhd has locked in forward sales for 50% of its monthly production up to June this year at a price of about RM3,000 per tonne.
Kenanga Research, in a note, said it had met up with the company’s management and felt “more optimistic on its long-term prospects.’’
It said the company expected financial year (FY) ending April 30,2021 to 2022 fresh fruit bunch (FFB) growth of 12%-15%/10%-12% (versus the research house’s estimates of +10%/+4%).
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!