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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

12/10/2004

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

The Edge Daily

CATEGORY

HEADLINE

Tradewinds: Plantations to bring 60% of profit by
11/10/04 Kuala Lumpur - Tradewinds Corporation Bhd, formerly PernasInternational Holdings Bhd, expects its plantations business to increaseearnings contribution from 40% currently to 60% by 2007, says its groupchief executive officer Mohd Redza Shah Abdul Wahid.

He said the company was aiming to be one of the top six plantationcompanies in the country in terms of landbank by the end of next year.

Its total landbank of total oil palm estates measured 120,000ha, with 75%fully planted, of which 45% is matured. The group also operates seven palmoil mills.

Currently 50% of its earnings came from sugar-manufacturing and 40% fromplantations, Mohd Redza said to reporters after the launching of Tradwindsnew logo in Kuala Lumpur on Oct 11.

Its other activities are in flour milling, garments and safety glass, aswell as property investment and hotels.

Mohd Redza said Tradewinds was aiming to pare its existing RM1.80 billiondebt by an average of RM150 million annually over the next three years.

He also said it had begun its first venture overseas via the constructionof a hotel in Hanoi, Vietnam. Without elaborating, he said he expected thehotel to be completed by next year.