PETALING JAYA: TH Plantations Bhd (THP) has appointed Datuk Borhan Bachi, 59, as its chief executive officer
In a filing with Bursa Malaysia, the company said Borhan has over 35 years of experience in the palm oil industry with key positions in mill operations, logistics, and corporate services within the plantation division of FGV Holdings Bhd
.
In FGV, he oversaw the research and development, rubber, and renewable energy segments.
Meanwhile, the company believes the outlook on crude palm oil prices will remain challenging on uncertainties and pressure in the coming quarter.
This would be driven by competitive global demand, ongoing geopolitical uncertainties and improving output.
"With production expected to peak in the fourth quarter and strong supply from other vegetable oils - particularly soybean oil, price pressure is expected to persist. Market direction will also hinge on the pace of Indonesia’s biodiesel programme," the company said in a statement.
THP posted revenue of RM259.6mil in its 3QFY25, up 3% from RM252.0mil in the same period last year on higher average realised prices for crude palm oil, palm kernel (PK) and fresh fruit bunches (FFB), along with increased sales volumes of PK and FFB.
THP also saw its 3QFY25 net profit jumping by 47% to RM31.6mil.
