TH Plantations 3Q net loss up 60% on impairment losses

TH Plantations 3Q net loss up 60% on impairment losses

The Edge Markets - Malaysia·2019-11-26 19:25

KUALA LUMPUR (Nov 26): TH Plantations Bhd’s net loss rose 59.6% to RM31.61 million in the third quarter ended Sept 30, 2019 (3QFY19) from RM19.8 million a year ago, largely due to impairment losses of property, plant and equipment amounting to RM53.57 million, lower revenue due to lower average realised prices for crude palm oil (CPO), palm kernel and fresh fruit bunch and higher finance cost by RM14.37 million mainly due to adoption of Malaysian Financial Reporting Standards 16 Leases.

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