UMB may return to profitability in FY21

TheStar Tue, Feb 16, 2021 10:11am - 3 years View Original


As a pure upstream oil palm player, UMB is well positioned to benefit from high CPO prices.

KUALA LUMPUR: United Malacca Bhd (UMB) is expected to return to profitability in the financial year 2021 (FY21) with a core net profit of RM22mil, says CGS-CIMB Research.

The research unit said: “This stems from our projection of an improvement in fresh fruit bunches (FFB) yields which should help to lower unit cost of production and raise profit margin.”

CGS-CIMB Research also believed that UMB’s efforts to improve efficiencies at its estates to raise FFB yields will bear fruit in FY21.

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