Kim Loong gets FFB production growth boost

UOB Kay Hian (UOBKH) Research said with the acquisitions, an additional 30,000 tonnes of FFB could be produced. This is about 10% of the group’s current FFB production, the research firm said in its latest report.

PETALING JAYA: The recent landbank acquisitions and impact from ongoing replanting exercise are expected to boost Kim Loong Resources Bhd’s fresh fruit bunches (FFB) production growth by about 10% year-on-year (y-o-y) for the financial year (FY) ending Jan 31,2022.

The group has announced that it would be buying close to 2,900 acres of fully-cultivated oil palm plantation in Kinabatangan, Sabah in four separate deals worth a combined RM92.5mil expected to be completed in the second quarter of this year.The total land acquired is equivalent to 8% of Kim Loong’s current planted area.