SIBU: Ta Ann Holdings Berhad (Ta Ann) recorded a four per cent increase in its revenue for the financial year ended Dec 31, 2015 at RM1.0483 billion from the previous year.
Ta Ann executive chairman Datuk Amar Abdul Hamed Sepawi said the company’s profit before tax was at RM234.2 million, up 39 per cent from the level achieved in 2014.
“Net profit after tax of RM191.5 million was 53 per cent higher year on year, translating to earnings per share of 51 sen.
“Total equity grew from RM1.090 billion at the end of 2014 to RM1.218 billion in 2015 while return on equity for the year under review was 16 per cent,” he said in his message in Ta Ann 2015 Annual Report book that was distributed before the company’s 19th annual and extraordinary general meeting at a hotel here yesterday.
For the same financial year, Ta Ann’s Board of Directors declared and paid dividends of 20 sen per share, he said.
Meanwhile, Abdul Hamed hoped that the Trans-Pacific Partnership Agreement (TPPA) will create new market opportunities for the timber industry especially in the North American market which could boost the industry’s export volumes.
“For this year, the timber division will see some volatility in prices as adjustments were made in the supply chain to cater to the expected slowdown in demand,” he said.
He had earlier said that the global economic outlook will be challenging this year with slower growth rates in most emerging economies and subdued demand for commodities across the board.
“Prospect for crude palm oil prices should be bright in the coming year and we remain on track to achieve a 15 to 20 per cent growth in fresh fruit bunches production volume this year driven by larger matured area and improved palm age profile,” he said.
On a similar matter, he said that Ta Ann was working towards sustainable forest management certification under the Malaysian Timber Certification Scheme (MTCS).
He said it was the process of carrying out third party assessments for sustainable forest management practices of Forest Management Unit or Forest Plantation Management Unit in accordance with the requirements of a prescribed standard leading to an award of a certificate for Forest Management under MTCS.
He also noted that the company’s Manis CPO Mill and Daro oil palm estate had attained Malaysian Sustainable Palm Oil certification.
“In tandem with our commitment, we expect more oil palm subsidiaries to be certified this year,” he said.