PLS Plantations appoints Lee Hun Kheng as Group CEO to advance business transformation

KUALA LUMPUR, Jul 1, 2022 - (ACN Newswire via SEAPRWire.com) - PLS Plantations Berhad announced the appointment of Lee Hun Kheng as the Group's Chief Executive Officer (CEO) effective today and retain his role as Executive Director of PLS Plantations. He will remain CEO of Aramijaya Agri & Agro Sdn. Bhd., a company that has been involved in developing innovating supply chain and forest management processes to create high quality sustainable forest products and services since 2002.Mr. Lee Hun KhengPLS Plantations' Independent Non-Executive Chairman, Tan Sri Nazir Razak said, "We are pleased to welcome Lee Hun Kheng as our new Group CEO. His role as CEO of Aramijaya, the Group's forest plantation subsidiary and his 19 years' experience in the upstream and downstream sectors of the plantations industry will be critical in helping PLS Plantations navigate the complex industry and dynamic environment, as the Group transforms itself into Malaysia's leading sustainable agrifood company.Mr. Lee's appointment is part of the Group's efforts to strengthen our senior management bench as the Group diversifies into commercial durian planting alongside cash crops and forest plantation.PLS Plantations' diversification is aligned with the nation's food sufficiency efforts. We note and applaud the Prime Minister's recent statement on the critical importance of food security and the various new government initiatives to support the agrifood industry. With our much strengthened management team, we are well positioned to play a major role in addressing the nation's food security challenges."Prior to his appointment as CEO at Aramijaya, Lee Hun Kheng was the marketing manager, responsible for increasing the product line offerings, through setting up new accounts of timber products and establishing the research and development projects on plantation. He is also a member of The Incorporated Society of Planters, a society established to develop and advance the professional interests of members within the plantation industry.About PLS Plantations BerhadPLS Plantations was incorporated in Malaysia in 1987 and was listed on the Second Board of Kuala Lumpur Stock Exchange on 28 February 1995. Currently listed on the Main Board of Bursa Malaysia Securities Berhad, PLS Plantations and its subsidiaries are involved in the management and operation of forest, oil palm and durian plantations, as well as the processing, distribution and sale of durian products. https://plsplantations.my/Media Contact:Cheong Sue FyennNarro CommunicationsE: suefyenn@narrocomms.comT: +6016 910 7625Forward-Looking StatementsThe statement included in this press release, other than statements of historical facts, are forward- looking statements. Forward-looking statement generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "seek," or "believe." These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations about future event. There are important factors that could cause our actual results, level of activity, performance, or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statement, including, but not limited to our ability to win additional business. Although we believe the expectations reflected in the forward- looking statements are reasonable, we cannot guarantee future result, level of activity, performance, or achievements. You should not rely upon forward- looking statements as predictions of future events. These forward-looking statements apply only as of the date of this press release; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this release or those that might reflect the occurrence of unanticipated events. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

PLS Plantations Showcases Performance Improvement with a 340% Net Profit Increase

KUALA LUMPUR, Feb 21, 2022 - (ACN Newswire via SEAPRWire.com) - PLS Plantations Berhad ("PLS Plantations" or the "Company") today announced a 340% jump in the net profit for their second quarter financial performance for the period ended 31 December 2021 (Q2FY2022). The Company recorded a net profit after tax of RM9.97 million, a 4.4 times jump from RM2.26 million for the same quarter of the preceding year ended 31 December 2020 (Q2FY2021) on the back of higher revenue and managed costs.For the same quarter, PLS Plantations' profit before tax ("PBT") stood at RM14.0 million, 265% higher compared to RM3.84 million posted for the same period, Q2FY2021, due to higher sales and an increase in the profit after tax margin of 17.4% up from 8.2% for the period. The surge in revenue and profit before tax were mainly attributed to the improved Fresh Fruit Bunches ("FFB") selling price realised under the plantation segment, and the improved sales of frozen durian products under the manufacturing and trading segment to overseas customers. The Company, via its subsidiary continuously expanding their contracting and plantation development. Earnings per share stood at 1.77 sen (fully diluted) in Q2FY2022 compared to EPS of 0.33 sen in Q2FY2021.PLS Plantations' Executive Vice Chairman, Tan Sri Dato' Lim Kang Hoo highlighted, "We continue to execute against our plans to turnaround the company. In addition to strengthening our operations and revenue streams, we are building up our land bank to position the company and capitalise on the booming demand for durians, from key import partners such as China, Australia, and the United States of America, to name a few. In addition, PLS will also be venturing into cash crops, agriculture and aquaculture through ventures to support country's food sufficiency efforts."About PLS Plantations BerhadPLS Plantations was incorporated in Malaysia in 1987 and was listed on the Second Board of Kuala Lumpur Stock Exchange in 1994. Currently listed on the Main Board of Bursa Malaysia Securities Berhad, PLS and its subsidiaries are involved in the management and operation of forest, oil palm and durian plantations, as well as the processing, distribution and sale of durian products.Forward-Looking StatementsThe statement included in this press release, other than statements of historical facts, are forward- looking statements. Forward-looking statement generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "seek," or "believe." These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations about future event. There are important factors that could cause our actual results, level of activity, performance, or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statement, including, but not limited to our ability to win additional business. Although we believe the expectations reflected in the forward- looking statements are reasonable, we cannot guarantee future result, level of activity, performance, or achievements. You should not rely upon forward- looking statements as predictions of future events. These forward-looking statements apply only as of the date of this press release; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this release or those that might reflect the occurrence of unanticipated events.Media Contact:Cheong Sue FyennNarro CommunicationsE: suefyenn@narrocomms.comT: +6016 910 7625 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)