{"id":246489,"date":"2023-11-30T08:17:41","date_gmt":"2023-11-30T00:17:41","guid":{"rendered":"http:\/\/www.namnewsnetwork.org\/?p=246489"},"modified":"2023-11-30T08:29:04","modified_gmt":"2023-11-30T00:29:04","slug":"malaysias-fgv-net-profit-plunges-on-lower-cpo-price-in-q3","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=246489","title":{"rendered":"Malaysia&#8217;s FGV Net Profit Plunges On Lower CPO Price In Q3"},"content":{"rendered":"\n<p>KUALA LUMPUR, Nov 30 (NNN-BERNAMA) &#8211; Malaysia-based FGV, saw its net profit plunge in the third quarter ended Sept 30, due to lower Crude Palm Oil<strong>\u00a0<\/strong>(CPO) prices.<\/p>\n\n\n\n<p>FGV said in a bourse filing yesterday that, its net profit for the quarter tumbled 86.77 percent to 31.98 million ringgit (6.87 million U.S. dollars) from 241.67 million ringgit, a year ago.<\/p>\n\n\n\n<p>The group&#8217;s revenue for the quarter also fell 20.63 percent to 4.91 billion ringgit from 6.18 billion ringgit.<\/p>\n\n\n\n<p>According to the group, the poor performance was due to a weaker average CPO price of 3,948 ringgit per tonne, against 4,989 ringgit per tonne a year ago. This was further compounded by higher CPO production costs ex-mill by 35 percent.<\/p>\n\n\n\n<p>Although production costs are expected to remain elevated, a potential moderation is foreseen by the group, due to lower fertiliser and energy prices. (1 ringgit equals 0.21 U.S. dollar)&#8211; NNN-BERNAMA &nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KUALA LUMPUR, Nov 30 (NNN-BERNAMA) &#8211; Malaysia-based FGV, saw its net profit plunge in the third quarter ended Sept 30, due to lower Crude Palm Oil\u00a0(CPO) prices. FGV said in a bourse filing yesterday that, its net profit for the quarter tumbled 86.77 percent to 31.98 million ringgit (6.87 million U.S. dollars) from 241.67 million [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":246491,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300,318,297],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/246489"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=246489"}],"version-history":[{"count":3,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/246489\/revisions"}],"predecessor-version":[{"id":246495,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/246489\/revisions\/246495"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/246491"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=246489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=246489"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=246489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}