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Boustead Plantations embeds ESG principles in progressive future-proof plans

14/06/2022 05:45 PM

KUALA LUMPUR, June 14 (Bernama) -- Boustead Plantations Bhd has outlined progressive steps to future-proof its operation by focusing on value creations within the existing business as well as new income streams while embedding the principles of environmental, social and governance (ESG) along the process.

In a statement today, the palm oil producer said it has also placed sustainability at the core of its operation.

“Under ESG Strategy Framework, we sought to elevate the industry’s standard through the incorporation of sustainability fundamentals on each and every level of our business operation,” it said.

Chief executive officer Zainal Abidin Shariff said the company remained confident in its ability to capitalise on the bullishness of palm product prices and invest in its growth areas while aggressively integrating mechanisation and digitalisation in operation.

He said the company is actively in pursuit of maximising its accelerated replanting exercise as part of its Plantations Performance Improvement Programme to boost yield performance.

“Guided by the Reinventing Boustead Strategy, our ultimate aim is to achieve sustainable growth over the long term.

“Our positive track records are a testament to our sheer dedication in enhancing value for our shareholders,” he said.

Boustead Plantations posted a profit before taxation and zakat of RM436 million for the first quarter ended March 31, 2022 (Q1FY22), a significant increase from RM11 million recorded in the previous year’s corresponding quarter.

It has declared a first interim single-tier dividend of 7.3 sen per share for the year ending Dec 31, 2022.



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