Olam to post one-time Q4 net gain of S$72m from restructuring initiatives

Singapore

AGRI-FOOD giant Olam International expects to record a net one-time post-tax gain of about S$72 million for its fourth quarter ended Dec 31.

This comes as the group has executed various restructuring initiatives under its 2019-2024 strategic plan, Olam said on Monday.

During Q4, Olam announced the sale of the real estate assets of its onion and garlic processing facility in California, the sale of permanent water rights in Australia and the divestment of a 10 per cent stake in GSEZ SA, a subsidiary of an associate company. The transactions generated a one-time post-tax capital gain …