By BERNAMA
TSH Resources Bhd aims to increase total oil palm hectarage to 50,000 hectares by year-end from its present hectarage of 46,500, says Chairman, Kelvin Tan.
He said TSH Resources had 65,000 hectares in its landbank that remained idle.
“Sixty percent of the land bank has yet to be utilised. We thus have more land to turn into oil palm plantations,” he told reporters after the company’s extraordinary general meeting.
Tan said sixty per cent of its oil palm trees were below maturity, which means these trees would continue to produce more fresh fruit bunches year-on-year,” he said.
“Out of the matured areas, 60 percent are young trees,” he said.
On its palm oil mills, the chairman said the company had six mills operating in Sabah and Indonesia with capacity to produce of 2.2 million tonnes of palm oil per annum.
“We plan to build one new palm oil mill every alternate year and this will increase the milling capacity to three million tonne per annum by 2018,” said Tan.
On outlook, the group is optimistic of a better performance in the current financial year ending Dec 31, 2013.
– BERNAMA
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