KLK 4Q profit plunges on RM180mil impairment

Quick Summary:

Kuala Lumpur Kepong Bhd’s (KLK) fourth-quarter net profit slumped by over 94% year-on-year (y-o-y), dragged down by a RM180mil impairment at a London-based associate and an inventory write-down of RM50.8mil.

The company’s product categories cover adhesives, coatings, construction, health and protection, performance materials, energy solutions, and paper, carpet and foam.

Batu Kawan’s revenue also fell by 2% y-o-y to RM5.88bil.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaAustraliaCanadaNew ZealandSingaporeSouth AfricaUnited States

Topics: InventoryWriteDown Corporate News KLKResults SynthomerImpact PlantationPerformance PalmOilPrices ProfitDecline /Business/Business News ImpairmentLoss

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-27 @ 00:00:00 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 506 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © The Star

News ID: 23895935

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