MARKET DEVELOPMENT
TDM To Reap Returns From RM400 Million Investment In Kalimantan By 2018
TDM To Reap Returns From RM400 Million Investment In Kalimantan By 2018
04/06/2015 (Bernama) - TDM Bhd's investment of RM400 million in plantations and oil palm processing plants in Kalimantan, Indonesia, will start contributing to the group by 2018.
Its president, Lt Gen Tan Sri Wan Abu Bakar Wan Omar, said production from the oil palm plantations, undertaken since five years ago on a 14,000-hectare area, would be processed at the plant which is now being built.
"The RM80 million factory is at the final stage of construction and is expected to complete next year. We estimate the plant will have the capacity for 60 tonnes of palm oil in one hour.
"By having our own plant, at the initial stage, we can process our own production and also process palms from the surrounding community. We also plan to increase our plantation acreage in Kalimantan to reach 40,000 hectares in stages," he said.
He was met by reporters after the handover of dividend payment and profit sharing to government agencies here today.
Wan Abu Bakar said TDM distributed dividend payment and profit sharing of RM16.57 million to agencies under the Terengganu government, State Heritage Trust Fund Board (LTAW) and the Terengganu Islamic Affairs and Malay Customs Council (Maidam).
"The dividend distribution is made based on the increase in TDM's revenue of RM386.1 million for the financial year ended Dec 31, 2014 (FY14) compared with RM370.7 million in FY13, while group pre-tax profit amounted to RM68.4 million in FY14 against RM67.1 million in FY13.
"The dividend payment to agencies under the state government totalled RM14.44 million, LTAW receives RM1.81 million and Maidam RM314,573.00," he said.
Its president, Lt Gen Tan Sri Wan Abu Bakar Wan Omar, said production from the oil palm plantations, undertaken since five years ago on a 14,000-hectare area, would be processed at the plant which is now being built.
"The RM80 million factory is at the final stage of construction and is expected to complete next year. We estimate the plant will have the capacity for 60 tonnes of palm oil in one hour.
"By having our own plant, at the initial stage, we can process our own production and also process palms from the surrounding community. We also plan to increase our plantation acreage in Kalimantan to reach 40,000 hectares in stages," he said.
He was met by reporters after the handover of dividend payment and profit sharing to government agencies here today.
Wan Abu Bakar said TDM distributed dividend payment and profit sharing of RM16.57 million to agencies under the Terengganu government, State Heritage Trust Fund Board (LTAW) and the Terengganu Islamic Affairs and Malay Customs Council (Maidam).
"The dividend distribution is made based on the increase in TDM's revenue of RM386.1 million for the financial year ended Dec 31, 2014 (FY14) compared with RM370.7 million in FY13, while group pre-tax profit amounted to RM68.4 million in FY14 against RM67.1 million in FY13.
"The dividend payment to agencies under the state government totalled RM14.44 million, LTAW receives RM1.81 million and Maidam RM314,573.00," he said.