PLS Plantations to reduce palm oil business to 15%

PLS Plantations to reduce palm oil business to 15%
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KUALA LUMPUR (Feb 2): Ekovest Bhd’s subsidiary PLS Plantations Bhd is planning to reduce its oil palm plantation business from 80% currently to just about 15% over the next few years.

Ekovest group executive chairman Tan Sri Lim Kang Hoo said for now, most of the company’s revenue is still dominated by oil palm.

“The company will gradually diversify its crop to include durian, pineapple, banana and other crops that are also important in the government’s food security initiative,” he told reporters during the Ekovest group’s Chinese New Year open house at the EkoCheras Mall on Thursday (Feb 2).

Lim added that the company is also looking forward to exploring the durian market’s huge export potential.

“There is a big market for durian in countries such as China, Japan, South Korea and also Australia,” he said.

Also present was PLS Plantations chairman Tan Sri Nazir Razak.