KUALA LUMPUR, May 23 — Jaya Tiasa Holdings Bhd’s net loss for the third quarter ended March 31, 2019 (Q3) increased to RM125.31 million from a net loss of RM48.57 million in same period in 2018.
Revenue decreased to RM115.7 million from RM160.20 million previously, the company said in a filing to Bursa Malaysia today.
Jaya Tiasa said the decline in revenue from the oil palm division was mainly due to the 20 per cent and 43 per cent decrease in selling prices of crude palm oil (CPO) and palm kernel respectively, despite an increase in sales volume for both products.
“For the timber division, the decrease in sales volume for log and plywood of 59 per cent and 32 per cent respectively has led to the lower revenue,” it said.
The company anticipated that the higher fresh fruit bunches (FFB) production volume in the coming quarter will contribute to improvement in the unit production cost of FFB and CPO.
“Moving forward, the company believes its performance for the next quarter will improve with stringent control on cost and operational efficiency,” it added. — Bernama
