KLCI extends gains as global markets rise
Petrofac gets RM220m Carigali refurbishment job
Bursa Malaysia Derivatives launches revamped options on index futures
Willowglen MSC unit gets RM19.99m of jobs
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UAC surges on Boustead privatisation plan
April inflation seen at 2.1% y-o-y, matches March level
Suaram slams prosecution of opposition leaders involved in Bersih rally
Categories
| KLK to restructure Crabtree and Evelyn |
| Business & Market 2009 | |||
| Written by The Edge Financial Daily | |||
| Wednesday, 01 July 2009 23:48 | |||
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"It involves our subsidiary in the US, where the main bulk of our losses are. We have to restructure that subsidiary and the US legal system allows us to have a certain restructuring," he told reporters on the sidelines of Invest Malaysia 2009 here today. He said with the restructuring plan in place, KLK hoped Crabtree and Evelyn would break even next year. Meanwhile, Lee expected palm oil prices for the next three months to be around RM2,000. "The lower range for palm prices at about RM2,000 or just above RM2,000 would be very supportive," he said, adding the CPO price forecast was premised on supportive crude oil prices and lower stocks. He added that palm oil production was also expected to pick up in the second half of the year, given that yields were low mainly due to biological and weather-related issues. Nevertheless, Lee said overall yield per hectare would still be between 5% and 10% lower this year. He said fertiliser prices were still uncertain, but he expected prices to drop further.
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