Chin Teck Plantations issues profit warning


KUALA LUMPUR: Chin Teck Plantations Bhd, which saw its net profit fall 8% to RM25.3mil in the first quarter ended Nov 30, has issued a profit warning.

“The financial performance for the financial year ending Aug 31, 2023 (FY23) is expected to decline compared with the record profit of the previous FY22 and in line with the drop in crude palm oil (CPO) and palm kernel (PK) prices from the historically high levels,” Chin Tek said in a filing with Bursa Malaysia.

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Chin Teck Plantations , CPO , Palm , oil palm

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