PETALING JAYA: Boustead Plantations Bhd is primed to strengthen resilience and set a course for sustainable long-term growth, driven by initiatives focused on enhancing yields and optimising its palm age profile.
The group detailed its strategic roadmap during its 111th annual general meeting, which was held virtually recently, chaired by chairman Lt-Gen (R) Datuk Ahmad Norihan Jalal and attended by the board of directors and the senior management team.
The group closed Financial Year 2023 profitably with revenue of RM852 million. Profit before taxation and zakat stood at RM71 million while profit for the year was registered at RM36 million.
Newly appointed CEO Datuk Zulkarnain Md Eusope said, “The Plantations Performance Improvement Programme 2.0 and 25-Year Replanting Programme yielded positive results in 2023, contributing to an oil extraction rate above the national level and reducing the underperforming young and prime fields. These initiatives have played a pivotal role in enabling BPlant to deliver a profitable FY2023 amid challenging market conditions.
“As I assume this new role at BPlant, I am humbled by the opportunity to lead this esteemed group into its next chapter of growth and sustainability. I look forward to working closely with the talented team, stakeholders and partners to drive innovation, operational excellence and value creation, firmly anchored in our commitment to responsible practices,” he added.
Looking ahead, Boustead Plantations aims to accelerate its adoption of cutting-edge technologies, including automation and mechanisation, to further optimise yield and productivity. The group also recognises the potential benefits of collaborating with leading industry players, including government-linked companies, to leverage their expertise and resources for mutual growth and development.
