MKH Oil Palm (East Kalimantan) Berhad (MKHOP), an upstream oil palm plantation company operating in Indonesia, has announced a net profit of RM16.10 million for the third quarter ending 30 June 2024, supported by revenue of RM93.28 million. The company achieved earnings per share (EPS) of 2.09 sen for the quarter. This robust performance was attributed to strong sales of crude palm oil (CPO) and palm kernel products, alongside ongoing operational efficiencies.
As the company was only listed on the main market of Bursa Malaysia Securities Berhad on 30 April this year, there are no comparative figures for the corresponding quarter of the previous year.
During the quarter, the average selling price of CPO per metric tonne (MT) was RM3,658, while palm kernel (PK) averaged RM1,890 per MT.
MKHOP's financial health remains strong, with almost no borrowings, placing the company in a net cash position. As of 30 June 2024, the company held RM199.65 million in cash. The company's net assets per share stood at 56 sen for the quarter.
For the nine months ending 30 June 2024, MKHOP recorded a cumulative net profit of RM43.21 million on revenue of RM261.63 million. This marks a 38% increase compared to the net profit of RM31.25 million for the financial year ended 30 September 2023, as reported in the company's prospectus prior to its listing. The EPS for the nine-month period was 5.53 sen, with average CPO and PK prices at RM3,462 and RM1,648 per MT, respectively.
MKHOP Chairman, Tan Sri Dato' Alex Chen Kooi Chiew @ Cheng Ngi Chong, expressed optimism for the company's future, citing strong market demand for CPO, which has been trading at approximately RM3,650/MT in Indonesia. He highlighted the company's strong cash position and plans to expand its landbank to capitalise on growth opportunities in the global edible oils market and the Indonesian oil palm industry.
In a separate announcement on 16 August 2024, MKHOP informed Bursa Malaysia of its intention to seek shareholders' approval at the upcoming Extraordinary General Meeting on 10 September 2024, for a share buyback of up to 5% of its total issued shares. This move is expected to stabilise the company's share price and enhance capital structure efficiency by better utilising surplus financial resources.
With a positive outlook for the remainder of the financial year ending 30 September 2024, MKHOP is well-positioned to achieve strong results and pursue growth opportunities.
印尼上游油棕种植公司MKH Oil Palm (East Kalimantan) Berhad (MKHOP)宣布，截至2024年6月30日的第三季度净利润为1610万令吉，收入为9328万令吉。该公司本季度实现每股收益（EPS）为2.09仙。这种强劲的表现归因于粗棕榈油（CPO）和棕榈仁产品的强劲销售以及持续的运营效率。
由于该公司今年4月30日才在马来西亚证券交易所的主要市场上市，因此没有去年同期的比较数据。
在本季度，每公吨（MT）CPO的平均销售价格为3,658令吉，而棕榈仁（PK）的平均销售价格为每公吨1,890令吉。
MKHOP的财务状况仍然强劲，几乎没有借款，这使该公司处于净现金状况。截至2024年6月30日，该公司持有19965万令吉的现金。该公司本季度每股净资产为56仙。
在截至2024年6月30日的九个月中，MKHOP的累计净利润为4321万令吉，收入为26163万令吉。与该公司上市前招股说明书中公布的截至2023年9月30日的财政年度的3125万令吉的净利润相比，这标志着增长了38％。九个月期间的每股收益为5.53仙，CPO和Pk的平均价格分别为每吨3,462令吉和1,648令吉。
MKHOP董事长丹斯里拿督Alex Chen Kooi Chiew @ Cheng Ngi Chong对公司的未来表示乐观，理由是CPO的市场需求强劲，印度尼西亚的CPO交易价格约为3,650令吉/吨。他强调了该公司强劲的现金状况，并计划扩大其土地储备，以利用全球食用油市场和印度尼西亚油棕榈行业的增长机会。
在2024年8月16日的另一份公告中，MKHOP告知马来西亚交易所，它打算在即将于2024年9月10日举行的股东特别大会上寻求股东批准，以回购其已发行股份总额的5％。预计此举将通过更好地利用剩余财务资源来稳定公司的股价并提高资本结构的效率。
在截至2024年9月30日的财政年度的剩余时间里，前景乐观，MKHOP完全有能力取得强劲业绩并寻求增长机会。
