KUALA TERENGGANU: Ketengah Holdings Sdn Bhd (KHSB) chalked up a lower pre-tax profit of RM45.34 million last year against RM62.18 million registered in 2012.
Its general manager Wan Mat Amin Wan Daud said the decline was mainly due to lower crude palm oil (CPO) prices.
He said CPO prices had dropped to RM2,342 per tonne last year from RM2,734 per tonne in 2012.
“Palm kernel prices also dropped to RM1,355 per tonne in 2013 from RM1,516 per tonne recorded the previous year. Since most of our subsidiaries are in palm-oil based activities, their contributions to group profits were lower,” Wan Mat Amin told a press conference, here, yesterday.
“The plantation sector is the biggest contributor to group earnings with Ketengah Wira Sdn Bhd raking in RM12.8 million, followed by Ketengah Jaya Sdn Bhd, which earned RM9.9 million.
Wan Mat Amin said Ketengah has 14 subsidiaries under its portfolio. Bernama