SINGAPORE Feb 24 Singapore-listed palm oil company Golden Agri-Resources Ltd posted a 137 percent jump in fourth-quarter profit, helped by tax benefits and higher market prices of crude palm oil (CPO).
Golden Agri, one of the largest palm oil plantation companies in the world, reported a net profit of $46 million, compared with $20 million a year ago.
The latest quarter included a net tax impact of $62 million from a revaluation of its plantation assets in Indonesia. (Reporting by Aradhana Aravindan; Editing by Biju Dwarakanath)
UPDATE 4-Brazil officials defend beef after 'system-wide problem' prompts U.S. ban
CHICAGO/BRASILIA, June 23 Brazilian officials scrambled to shore up their beef industry's reputation on Friday after the United States blocked shipments of fresh cuts, saying it found abscesses in the meat and signs of systemic failures in the inspection program of the world's largest beef exporter.