Boustead Plantations Berhad Reports Earnings Results for the First Quarter Ended March 31, 2023

Boustead Plantations Berhad (BPB) is a Malaysia-based investment holding company, which is engaged in oil palm plantation operations. The principal activities of the Company are the cultivation of oil palms, production and sale of fresh fruit bunches, crude palm oil and palm kernels in Malaysia. The Company operates through two segments: Plantation and Other. Plantation operations involve the cultivation of oil palms and production of crude palm oil and palm kernel, and other segment consists of plantation consultancy and investing activities. BPB manages a portfolio of over 44 oil palm plantation estates and approximately 10 palm oil mills in Malaysia with over 18 plantation estates in Peninsular Malaysia, approximately 20 in Sabah and over six in Sarawak. It owns and operates approximately three palm oil mills in Peninsular Malaysia, over five in Sabah and over two in Sarawak. Its total landbank stands approximately 98,200 hectares (ha).