TDM records improved performance in Q1

KUALA LUMPUR (June 29): TDM Bhd has recorded a three per cent increase in revenue to RM107.80 million in the first quarter of its financial year ended Dec 31, 2020 (Q1 FY20), driven by its plantation and healthcare division.

In a filing to Bursa Malaysia today, it said the increase was due to the higher crude palm oil prices and palm kernel price by 36%to RM2,763 per tonne and 27% to RM1,730 per tonne respectively.

“The group is optimistic on the long-term fundamentals of the industry and will remain focused on improving productivity and optimising production cost.

“We are committed to the sustainability agenda, and in addition, our RSPO (Roundtable on Sustainable Palm Oil) certification has enabled us to receive premiums on the sale of our certified sustainable palm oil and certified sustainable palm kernel,” it said.

Meanwhile, the healthcare segment saw a three per cent rise in revenue during the quarter, contributed by higher average revenue per inpatient.

“However, the movement control order that took effect from March 18 has resulted in lower number of patients to our hospitals.

“In addition, our hospitals have immediately made relevant preparations and incurred additional expenses on the Covid-19 test kits, personal protection equipment for the frontliners and other consumable items,” it said.

It also said that the group has recorded stronger cash and bank balance by 15%, which puts the company in a better position in managing uncertainty and meeting its operational target and investment.

“The group is cautiously optimistic of achieving satisfactory operating performance in the remaining period of the year,” it said.