Boustead poised to get significant rental returns

“When its balance sheet strengthens, the group will look at purchasing younger estates to rebalance its ageing trees profile,” added Maybank IB Research.

PETALING JAYA: Boustead Plantations Bhd’s proposal to lease out a portion of its Telok Sengat Estate in Johor to cultivate large-scale algae plantation is expected to generate up to RM18.7mil in rental income per year.

According to Maybank IB Research, the proposed venture if it materialises can help the group add over RM11mil per year in its profits for the financial year 2022.