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Given the steep discount to its underlying value, oil palm planter Chin Teck Plantations Bhd may stand to be privatised in the future, according to PublicInvest Research.
INVESTORS with a keen eye would have noticed the uncanny similarities between plantation companies Chin Teck Plantations Bhd and Negri Sembilan Oil Palms Bhd (NSOP).
A look at the corporate information of the sister companies shows that they share the same majority shareholder Tiong Thy...
Chin Teck Plantations Bhd’s net profit declined 15.69% to RM21.33 million for the first quarter ended Nov 30, 2023, from RM25.3 million a year earlier, dragged down by weaker earnings from its associate company and joint ventures (JVs).
KUALA LUMPUR: Companies recently making headlines include Gamuda, MYEG, Ranhill Utilities, Chin Teck, Barakah, BAT, KNM, Sasbadi, Mitraya and Dnex, said Apex Securities.
Here is a brief recap of some corporate announcements that made news on Monday involving MyEG Services Bhd, Ranhill Utilities Bhd, Barakah Offshore Petroleum Bhd, British American Tobacco (Malaysia) Bhd, UMediC Group Bhd, Berjaya Corp Bhd (BCorp), KNM Group Bhd, Sasbadi Holdings Bhd, Mitrajaya Holdings Bhd and Dagang NeXchange Bhd.
Chin Teck Plantations Bhd’s net profit for the full year ended Aug 31, 2023 (FY2023) dropped 50.36% to RM53.37 million, compared with RM107.52 million for the previous year, underpinned by higher administrative expenses and lower revenue.