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.
印尼上游油棕種植公司MKH Oil Palm (East Kalimantan) Berhad (MKHOP)宣佈，截至2024年6月30日的第三季度淨利潤爲1610萬令吉，收入爲9328萬令吉。該公司本季度實現每股收益（EPS）爲2.09仙。這種強勁的表現歸因於粗棕櫚油（CPO）和棕櫚仁產品的強勁銷售以及持續的運營效率。
由於該公司今年4月30日才在馬來西亞證券交易所的主要市場上市，因此沒有去年同期的比較數據。
在本季度，每公噸（MT）CPO的平均銷售價格爲3,658令吉，而棕櫚仁（PK）的平均銷售價格爲每公噸1,890令吉。
MKHOP的財務狀況仍然強勁，幾乎沒有借款，這使該公司處於淨現金狀況。截至2024年6月30日，該公司持有19965萬令吉的現金。該公司本季度每股淨資產爲56仙。
在截至2024年6月30日的九個月中，MKHOP的累計淨利潤爲4321萬令吉，收入爲26163萬令吉。與該公司上市前招股說明書中公佈的截至2023年9月30日的財政年度的3125萬令吉的淨利潤相比，這標誌着增長了38％。九個月期間的每股收益爲5.53仙，CPO和Pk的平均價格分別爲每噸3,462令吉和1,648令吉。
MKHOP董事長丹斯里拿督Alex Chen Kooi Chiew @ Cheng Ngi Chong對公司的未來表示樂觀，理由是CPO的市場需求強勁，印度尼西亞的CPO交易價格約爲3,650令吉/噸。他強調了該公司強勁的現金狀況，並計劃擴大其土地儲備，以利用全球食用油市場和印度尼西亞油棕櫚行業的增長機會。
在2024年8月16日的另一份公告中，MKHOP告知馬來西亞交易所，它打算在即將於2024年9月10日舉行的股東特別大會上尋求股東批准，以回購其已發行股份總額的5％。預計此舉將通過更好地利用剩餘財務資源來穩定公司的股價並提高資本結構的效率。
在截至2024年9月30日的財政年度的剩餘時間裏，前景樂觀，MKHOP完全有能力取得強勁業績並尋求增長機會。
