TH Plantations reported losses in FY18

Weaker performance from TH Plantations due to large impairments

KUALA LUMPUR: TH Plantations Bhd reported a weaker set of results for the fourth quarter and financial year ended Dec 31, 2018 weighed down by impairments for its plantation assets, lower output and fair value loss in forestry.

TH Plantations reported net losses of RM578.23mil in Q4 and RM594.61mil in FY18. In Q4 of 2017, it posted net losses of RM28.27mil but it was profitable in FY17 at RM22.41mil.

Its revenue for FY18 fell by 24.5% to RM519.32mil from RM687.98mil a year ago.  In Q4, its revenue fell by 33.2% to RM118.62mil from RM177.71mil.

“In total, the group recognised RM594.89mil of impairments, write-offs, write-downs and fair value changes for FY2018, which significantly impacted the group’s bottom line,” it said. 

Newly-appointed CEO of TH Plantations, Muzmi Mohamed said, “At the operational level, we saw weaker revenues from significantly lower selling prices as well as lower output and sales volumes of both crude palm oil (CPO) and palm kernel (PK). 

“Despite recording a 3% growth in fresh fruit bunches (FFB) production and a 4% decrease in operating costs, the impact of lower prices and lower volume of CPO and PK was much more significant. Excluding the impairments and one-off charges, the group registered a core loss of RM89.4mil,”  he said.

Muzmi said for FY2018, the group produced 910,316 tonnes of FFB but CPO output and sales decreased by 4% and 5% respectively from 2017.

TH Plantations's average realised CPO selling price for 2018 was RM2,121 per tonne, down by 21% a year ago. Its average realised PK price was RM1,709 per tonne, down by 30%.

For Q4, FY18, total FFB production was up less than 1% to 252,687 tonnes while CPO output and sales fell by 2% and 4% respectively.

The average realised CPO selling price recorded for the quarter was RM1,821 per tonne, down 28% from a year ago. Average realised PK price for the quarter fel by 46% to RM1,377 per  tonne.

“The results were further affected by the impairments incurred by the group, amounting to RM446.83mil.

“These impairments were mainly from plantation assets which had been identified for divestment in the next 12 months. In addition, the group also recognised a fair value loss in forestry of RM134.03mil due to a change in market conditions,” he said.

Muzmi said the impairments were inevitable and part of the group’s rationalisation plans moving forward.

He pointed out the persistently challenging operating conditions and weak performance had brought to light a pressing need to carefully review its position.

“Moving forward, we have identified several assets which we would like to divest in the near future. The group anticipates with this rationalisation exercise, it will be in a better financial position,” he said.

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NO Valentine Day.

Alasan kenapa DILARANG menyambut Valentine Day 
14 Ferbruari kepada Umat Islam.

BACA PENUH SINI

1. Berasal dan Berakar dari Ritual Paganisme Romawi Kuno
2. Peringatan Hari Valentine Diadopsi oleh Gereja Katholik
3. Meraikan Hari Valentine = Merai Ritual non-Islam = Haram
4. Hari Valentine Menyuburkan Seks Bebas

Dr M: Vernacular schools stand in the way of national unity  By Editor , in Education on October 25, 2018 . Tagged width: tun mahathir , Vernacular school

KUALA LUMPUR, Oct 25 – 

The existence of vernacular schools has been a stumbling block to national unity, according toTun Dr Mahathir Mohamad.

The frank admission by the prime minister came during an event where he met some of the Malaysians working or studying in Bangkok this afternoon. The event, which was aired live on Astro Awani, was part of his official visit to Thailand.

He took questions on a variety of issues, including on Parti Pribumi Bersatu Malaysia being seen as another version of Umno, the economy, the third national car, Islamic extremism, discrimination against women, and education.

Dr M: Different races going to different schools

When asked a simple question on how he saw the future of education in Malaysia, Mahathir seemed to go off tangent by turning back the clock instead. “At the beginning, we wanted to have just one national school system. However, some people insisted that they be allowed to follow their own culture, the culture of the countries they came from. “We allowed that, so that resulted in three main streams – the national school where the medium is Bahasa Malaysia, Chinese schools with Mandarin as the medium and Tamil schools. “This meant that different races go to different schools. They don’t get to know each other and when they leave school, they go to work with people of other races with whom they have had little or no contact. This stands in the way of national unity,” Mahathir said. He added that the government had to accept the demands made by the other races to have the education available in their own language.
Arts education not desirable, says Mahathir

Mahathir then went on to elaborate about how education needs to evolve and that what was taught 30 years ago cannot apply now. He called for more emphasis on science and mathematics if the nation wants to move towards becoming an industralised nation. “This is because such graduates with such skills will eventually find it easier to get employment. “If students pursue arts subjects, such as literature and the like, then they might find it difficult to find jobs,” he said.
Chinese schools a hot topic for more than 30 years

The issue of vernacular schools has always been a hot button issue, especially since Mahathir’s first tenure as prime minister from 1981 to 2003. It was also seen to have been a contributing factor to Operasi Lalang in October 1987 which saw more than 100 people arrested under the Internal Security Act (ISA). In the months leading to the ISA arrests, Chinese educationists and MCA had protested when 100 senior assistants who were not conversant in Mandarin were posted to Chinese primary schools. Datuk Seri Anwar Ibrahim was education minister at the time.
PH manifesto promised UEC recognition

In more recent times, some Umno leaders as well as Malay nationalist group Perkasa had called for vernacular schools to be abolished, saying it went against national unity. But this is the first time that Mahathir has been seen to take such a stand as prime minister. Pakatan Harapan had promised to recognise the Unified Examination Certificate (UEC), which is the highest qualification for students from Chinese secondary schools in Malaysia. The UEC is recognised by the top universities in many countries, but Putrajaya has always failed to recognise it, and also rejected calls for it to be a route for entry in Malaysian public universities. Education Minister Maszlee Malik has also been coy on the actual recognition as promised by PH in its manifesto for the 14th general election, having been reported as saying in August that such recognition may come about “within the next five years when a thorough and holistic study is completed”.

– NMT

How to tackle palm oil crisis

By KK Tan - February 8, 2019 @ 12:20am

FOR how long can Malaysia go on taking a reactive and defensive approach on the palm oil issue. Most of our responses to the attacks in the West against palm oil are to complain and protest about discrimination against, banning and boycotting its use.

Palm oil is a RM80 billion export industry and a major component of our economy. With the glut and low prices caused by the attacks, the stakes are high. It is affecting the livelihood of rural people besides big industry players.

In the early 1990s, as the chief executive officer of the Malaysian Timber Council, I devised and coordinated a strategy to combat the anti-tropical timber campaign in Europe.

By the time Prime Minister Tun Dr Mahathir Mohamad went to the global earth summit in Rio de Janeiro in 1992, we had largely turned the tables on our critics on our forest management. This issue has many similarities with our palm oil crisis.

From 2013 to 2016, I also represented the world largest think-tank and risk analysis firm, the Economic Intelligence Unit (EIU), headquartered in London and New York.

So what advice should I give on our palm oil crisis?

We should first understand the nature and complexity of the problem that it is not just about business or trade (with many big competitors) but about health, environment and social (like tropical timber) and politics in the West, including subtle racism (like tropical timber). Misreading critical components such as the environmental and political aspects may confuse us on how to fight this “war” in a large and unfriendly market like Europe.

We would also need to do an honest SWOT (strengths, weaknesses, opportunities and threats) analysis on this issue. We need to identify correctly our “friends, enemies and fence sitters” (which are dynamic) in the targeted market.

Before we fight back, we would need to address any significant weaknesses in the production of palm oil.

For example, in the tropical timber case, the penalty for illegal logging in Malaysia (inherited from the British) in the early nineties was a joke (something like RM2,000) when in Thailand or Indonesia then, it was the death penalty for serious cases. So our laws were amended to show that we were serious about protecting our forests, otherwise no one would take us seriously.

The first rule about public relations is to demonstrate sincerity. The public in the West does not mind if we are not perfect as long as we are sincere and upfront about the issue.

We have to accept that we are not fighting on a level playing field with the odds stacked against us from the start. It’s like a David fighting a Goliath. So we need to be very smart and strategic if we are to win this war eventually. At the same time, we must explore plan B on developing other potential markets and plan C on crop diversification, as suggested by Dr Mahathir to mitigate the attacks against palm oil.

On the purported destruction of the environment caused by oil palm plantations, the West seems to be setting the agenda and defining the terms to suit them.

For example, they define an oil palm plantation as not a forest. Can they prove that clearing of land for oil palm is worse than that for other crops such as soybeans and rapeseed from carbon absorption (climate change) and biodiversity aspects.

When it suited their interests, the West never complained about the clearing of forest land for growing rubber trees (with rubber needed for condoms and gloves) even though rubber plantations and oil palm plantations are quite similar.

The emotional orang utan issue, used effectively against oil palm plantations, needs to be addressed.

There are also other environmentally friendly by-products of palm oil production such as biomass, which needs to be emphasised again and again.

Our opponents continue to smear, perhaps more subtly now, the health value of palm oil despite scientific studies in the West showing the health superiority of palm oil over its rivals.

Therefore, we need to counteract them on their own inconsistencies, point by point.

We should no longer take the defensive but the offensive with sound arguments. A proactive, comprehensive and offensive strategy is the only way forward.

The biggest challenge of the strategy to disseminate our arguments in Europe is how to penetrate their media, non-governmental organisations, government bodies and politicians and make our case on palm oil heard loud and clear there.

Any strategy must include having honest, competent and reliable representatives or agents based in Europe, who can provide accurate feedback and intelligence and who knows how to lobby there.

kktan2271@gmail.com

The writer is a corporate strategist and political analyst on local and global issues

Apa Lagi Ditunggu PH..?

Rakyat mulai bosan. Rakyat sudah pun bosan.
Sudah hampir 9 bln menguasai Putrajaya, tapi tindakan PH masih longlai seolah-olah batu seberat gunung di pundak PH,

Kalau begitu apa yg ditunggu lagi…?

1. Rakyat bosan dengan dakwaan demi dakwaan kpd raja troll dan  juak-juaknya. Bila mau dipenjara? Bila sprm mau tangkap baki 192 KB umngok yg harta berkodi kodi…? Bila mau tangkap ketua ketua jabatan yg lagaknya mengalahkan tauke genting. 
Bila mau isytihar harta kepala kepala kantor ini.?

2. Rakyat bosan dengan gelagat penghina penghina YDPA dan Sultan. Tangkap dan penjara seumur hidup pengkhianat pengkhianat ini. Wujudkan unit khas pdrm yg menjaga kedaulatan Raja dan Sultan. Bukan tungga marhein membuat citizen arrest.. Lucutkan warganegara mereka atau buang di kandang  buaya sahaja. ONCE FOR ALL. 
Kalau negara Siam boleh buat apa kurangnya Tanah Melayu ini..?

3. Rakyat bosan dengan Menteri dan Timbalan Menteri yg lemah longlai dan tiada halatuju. Mau tunggu pru15 lagi kah..? 
Tukar sajalah sebelum nasi jadi bubur.

4. Rakyat bosan dengan isu Pendidikan yg berulang ulang tiada kesudahan. Kenapa tidak hentikan sahaja bantuan kepada sekolah persendirian? Kenapa tidak perkasakan sekolah kebangsaan sepenuhnya? Kenapa tidak serapkan SRJK kepada sekolah kebangsaan sepenuhnya..? 
Rasanya Indonesia lebih berani dalam soal perkasakan bangsa Indonesia tanpa ragu ragu..

5. Rakyat bosan dengan ketirisan PH. Apa bezanya dgn B-end..?

WALK THE TALK. STOP THE EMPTY TALK.

.

Asal Usul Bangsa Melayu

Panjang ceritanya…

1. Asal usul Melayu (video link )

2, Baca Sejarah Sini 

3. Bacaan Lanjut Sini.

Daulat Tuanku

DAULAT TUANKU.