MKH Oil Palm (East Kalimantan) chairman Tan Sri Alex Chen Kooi Chiew
KUALA LUMPUR: MKH Oil Palm (East Kalimantan) Bhd said its prospects for the financial year ending Sept 30, 2025, is well-supported by strong market demand for crude palm oil.
"There has been stable demand for CPO; bolstered in part by Indonesia’s planned adoption of biodiesel mandate in January 2025 from B35 biodiesel to B40 biodiesel, the relatively tight global supply in other vegetable oils and fats, and strong seasonal demand," said chairman Tan Sri Alex Chen Kooi Chiew @ Cheng Ngi Chong in a statement.
He added that the company is also in the midst of conducting its due diligence exercise for its planned land acquisitions, for which relevant announcements will be made in stages in the near future.
Additionally, the company is also researching the integration of fish-rearing within its plantations to boost efficiency and as part of its environmental, social, and governance efforts.
In the fourth quarter ended Sept 30, 2024, MKH recorded a net profit of RM21mil on revenue of RM90.59mil.
There are no comparative figures from the year-ago quarter as the company was only listed on the Main Market of Bursa Malaysia on April 30 this year.
For the full financial year, the group posted a net profit of RM63.56mil on revenue of RM352.22mil as compared to RM30.9mil and revenue of RM338.16mil in the previous year.
MKH Oil Palm declared a second interim single tier dividend of two sen per share to be paid on Dec 30, 2024, to shareholders whose name appear on the company’s record of depositors on Dec 13, 2024.
