KETENGAH HOLDING BHD AIMS TO RAISE PROFIT BY UP TO RM100 MLN ANNUALLY BY 2028

Lembaga Kemajuan Terengganu Tengah (Ketengah) chairman Datuk Seri Ahmad Said the target is based on the implementation of several new businesses, particularly in livestock and agriculture.

Among the projects expected to contribute to the increase in profit is a 160-hectare coconut plantation in Cheneh, Kemaman.

"Additionally, we are in negotiations with the Johor and Pahang state governments to acquire suitable land for coconut planting, either via joint ventures or leasing," he said at a Ketengah buka puasa event with the media yesterday evening.

"We found that besides palm oil, which is the company's main resource, coconut planting also has the potential to generate better income with the production of a wider range of products.

"Moreover, for this year, we have been negotiating with buyers to raise iron ore prices from RM20 to RM35 per tonne. This new agreement is expected to record a significant profit increase in the company," he said.

Furthermore, Ahmad Said said KHSB, which owns 13 subsidiaries, will be visiting China next month to sign an agreement to open a factory to produce boxes from oil palm fronds.

The project is also expected to boost profits, which will then be channeled to Ketengah residents in the form of contributions and corporate social responsibility (CSR) programmes.

"We recorded about RM55 million in profit last year. A portion of it was returned to the Ketengah community, specifically in the districts of Dungun, Hulu Terengganu, and Kemaman," he added.

-- BERNAMA