KUALA LUMPUR (June 14): Boustead Plantations Bhd has outlined progressive steps to future-proof its operations by focusing on value creation within the existing businesses as well as new income streams while embedding the principles of environmental, social and governance (ESG) along the process.

In a statement on Tuesday (June 14), the palm oil producer said it had also placed sustainability at the core of its operations.

“Under the ESG strategy framework, we seek to elevate the industry’s standards through the incorporation of sustainability fundamentals at each and every level of our business operations,” it said.

Chief executive officer Zainal Abidin Shariff said the company remains confident in its ability to capitalise on the bullishness of palm product prices and invest in growth areas while aggressively integrating mechanisation and digitalisation of its operations.

He said the company is actively in pursuit of maximising its accelerated replanting exercise as part of its plantation performance improvement programme to boost its yield performance.

“Guided by the Reinventing Boustead strategy, our ultimate aim is to achieve sustainable growth over the long term.

“Our positive track records are a testament to our sheer dedication to enhancing value for our shareholders,” he said.

Boustead Plantations posted a profit before taxation and zakat of RM436 million for the first quarter ended March 31, 2022, a significant increase from RM11 million recorded for the corresponding quarter of the previous year.

It has declared a first interim single-tier dividend of 7.3 sen per share for the financial year ending Dec 31, 2022.

Source: The Edge