Rimbunan Sawit takes RM10mil hit from blockade
KUALA LUMPUR: Rimbunan Sawit Bhd estimates a revenue shortfall of about RM10 million following a three-month disruption at its Ulu Teru Estate in Miri, caused by a blockade of the estate’s main access route.
KUALA LUMPUR: Rimbunan Sawit Bhd is facing a RM10 million revenue loss due to a three-month blockade at its Ulu Teru Estate in Miri. The blockade, which lasted from June 18 to September 15, disrupted the main access route to the estate. The company estimates the shortfall as a result of the blockade's impact on harvesting activities, transportation of fresh fruit bunches, and other estate operations.
Ulu Teru Estate, operated by PJP Pelita Ulu Teru Plantation Sdn Bhd, is 60% owned by Nescaya Palma Sdn Bhd, a wholly-owned subsidiary of Rimbunan Sawit. The estate covers about 7,900 hectares, accounting for roughly 13% of the company's total plantation land in Sarawak. The board will continue to monitor the situation and management will take necessary measures to protect the company's operations and interests, according to a filing with Bursa Malaysia.
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