Tradewinds to add mills, warehouses

KUALA LUMPUR: Tradewinds (Malaysia) Bhd will spend some RM160 million to add three new palm oil mills and two sugar warehouses to expand.

"We had a good year in 2010 and this year we are expecting another good year as well," Tradewinds chairman Datuk Wira Syed Abdul Jabbar Syed Hassan said.

The first palm oil mill is under construction and will be completed this year, while construction of the other two mills will start in 2012 and in 2013.

Tradewinds chief executive officer for the plantation division Chan Seng Fatt said each mill would cost about RM40 million.

The company is also building two new raw and fine sugar warehouses which are set to be completed this year.

Its chief executive officer for the sugar division, Tuan Ngah Tuan Baru, said both warehouses will cost around RM40 million.

For the year to December 31 2010, Tradewinds made a record revenue of RM5.6 billion, more than double what it made in 2009.

Revenue from its plantation division rose to RM1.025 billion from RM758.9 million before, due mainly to the higher average crude palm oil price.

Its sugar division generated revenue of RM1.35 billion in 2010 compared with RM977.2 million in 2009, due to better sales.

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hlk wrote:

sun wrote:morning hlk, the 1st piece of news I read today, thank you. +1 rep [You must be registered and logged in to see this image.]

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