Oregon Group, which manages a New Zealand portfolio of business for Malaysia’s Tiong family, expects to record earnings in 2018 on rising prices for forest products and the completion of apartments in its land development unit. Source: NBR
Mr Thomas Song, managing director of Oregon Group said that 2018 would be a record year as all forestry commodities have had a price upswing.
The breakdown of revenue included NZ$343 million from forestry. The company’s 100,000 hectare forest estate was valued at NZ $774 million at June 30 from NZ $781 million a year earlier, accounting for more than half Oregon’s NZ $1.41 billion of total assets. Oregon’s NZ $88 million of carbon credits were valued at NZ $17.20 per unit at the balance date, up from NZ $84.2 million at NZ $17.85/unit price a year earlier.
Oregon tends to fly under the radar but it owns a range of high-profile businesses in New Zealand including the country’s fourth biggest forest estate.
