23/01/2009 (The Star Online), Kuala Lumpur - Chin Teck Plantations Bhd has a cash reserve of RM120mil to be used for its expansion plans.

”We will be using the cash for further expansion. In this regard, we need cash to invest and purchase land when the opportunity arises,” executive director Wong Aun Phui told reporters after the company AGM yesterday.

Chin Teck is principally involved in the cultivation of oil palm, production and sale of fresh fruits bunches, crude palm oil and palm kernel and in investment holding.

Asked about crude palm oil (CPO) prices, Wong said currently it was “quite reasonable” at between RM1,800 and RM2,000 per tonne, and expected to stabilise at this level.

According to Wong, if the CPO prices dropped below this level, smallholders would be impacted.