Harn Len halves Q1 losses on higher palm oil prices 


KUALA LUMPUR: Harn Len Corp Bhd halved its losses in the first quarter ended March 31 on higher palm oil prices.

The company made a loss of RM4.7mil compared with RM8.6mil a year ago. Revenue climbed to RM35.5mil from RM27.7mil previously.

“Our future prospects are bright as the CPO price has surged more than 120% in the past year, even setting a record of RM4,500 per tonne last month.” managing director Low Quek Kiong said in a statement today.

CPO prices are currently hovering between RM3,400 to RM3,600 per tonne.

“We remain resilient in our business activities as we look towards increasing efficiency and cost rationalisation in light of these challenging times. Moving forward, we hope the ongoing national immunisation plan will speed up the economic recovery as we chart our path to return to profitability,” he added.

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