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PPB confident of Wilmar's prospects, sees turnaround (4065)
by hlk Wed 05 Sep 2012, 15:16
KUALA LUMPUR: PPB Group Bhd
believes the business model of its 18.3% owned Wilmar International is
sound and expects the latter's financial performance to improve once
market conditions turn around.
PPB managing director Lim Soon Huat said on Wednesday that "we are confident about the medium to long term prospects of Wilmar".
"Do
not forget, wilmar had four years of good earnings. We have been in the
commodities business for long time, and we have the experience to
address and mitigate uncertainties," he said at a briefing.
Lim
said the group budgeted RM467mil for capital commitments from 2012 till
2014 for its grains trading, flour and feed milling segment (RM342mil),
film, exhibition and distribution (RM106mil) as well as property
investment and development.
believes the business model of its 18.3% owned Wilmar International is
sound and expects the latter's financial performance to improve once
market conditions turn around.
PPB managing director Lim Soon Huat said on Wednesday that "we are confident about the medium to long term prospects of Wilmar".
"Do
not forget, wilmar had four years of good earnings. We have been in the
commodities business for long time, and we have the experience to
address and mitigate uncertainties," he said at a briefing.
Lim
said the group budgeted RM467mil for capital commitments from 2012 till
2014 for its grains trading, flour and feed milling segment (RM342mil),
film, exhibition and distribution (RM106mil) as well as property
investment and development.
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