Latest news with #MKHOP
The Star
27-05-2025
- Business
- The Star
MKHOP sees strong FY25 outlook supported by steady CPO demand
MKH Oil Palm (East Kalimantan) Bhd chairman Tan Sri Alex Chen Kooi Chiew @ Cheng Ngi Chong. KUALA LUMPUR: MKH Oil Palm (East Kalimantan) Bhd's (MKHOP) outlook for the financial year ending Sept 30, 2025 (FY25) remains strong. Chairman Tan Sri Alex Chen Kooi Chiew @ Cheng Ngi Chon said this was supported by steady market demand for crude palm oil (CPO), which has been trading at around RM3,600 to RM3,800 per tonne (net of export levy and duty) in Indonesia. 'The group continues to undertake proactive measures on its operations; including enhancing our water management system and maximising crop collection and quality via on-going mechanisation efforts. 'Given the above, the board of directors expected the group to achieve satisfactory results for FY25,' Chen said in a statement. In the second quarter ended March 31, MKHOP's net profit rose 20% to RM19.2mil, or earnings per share of 1.89 sen compared with RM16mil, or 2.36 sen posted in the year-ago quarter. Revenue for the quarter climbed 11.8% to RM96.2mil against RM86mil last year. MHKOP said the good results were due to higher average selling price for CPO and palm kernel (PK), coupled with the commencement of crude palm kernel oil sales in February 2025. The company also declared a first interim single-tier dividend of 2 sen per share for the quarter to be paid on June 25 to shareholders whose names appear on the company's record of depositors on June 12. MKHOP has a policy of declaring 50% of its net earnings as dividends, taking into account the group's working capital requirements. Meanwhile, on a six-month basis, MKHOP's net profit was up 88.7% to RM51.2mil compared to the first half of FY24. Revenue was up 18.1% to RM198.8mil for the same period. Financially, MKHOP remains strong with negligible borrowings. Its cash pile increased to a record RM243.6mil for the period, from RM236.2mil in the previous quarter.
Daily Express
27-05-2025
- Business
- Daily Express
MKH Oil Palm reports strong Q2 profit of RM19.2 mil, declares 2 Sen dividend
Published on: Tuesday, May 27, 2025 Published on: Tue, May 27, 2025 Text Size: KUALA LUMPUR: MKH Oil Palm (East Kalimantan) Berhad (MKHOP) posted a 19.9 pc year-on-year rise in net profit to RM19.2 million for Q2 FY25, on the back of higher selling prices and new crude palm kernel oil sales. Revenue rose 11.8 pc to RM96.2 million. The company declared a 2 Sen interim dividend, payable on 25 June. MKHOP maintains a 50 pc dividend payout policy and delivered 4 Sen in dividends in FY24 (6.3 pc yield at 63 Sen share price). For the first six months, net profit surged 88.7 pc to RM51.2 million, or 79.7 pc of FY24's full-year earnings. Revenue grew 18.1 pc to RM198.8 million. Average Q2 prices were RM3,997/MT for CPO and RM3,043/MT for PK, with total FFB production at 92,829 MT. MKHOP's cash reserves hit a record RM243.6 million, with negligible debt. The company is undergoing due diligence for planned land acquisitions and currently owns 18,205 ha (17,009 ha planted). Chairman Tan Sri Dato' Alex Chen said the group's FY25 outlook remains strong amid steady CPO demand and continued operational improvements. The board expects satisfactory results for the full year ending 30 September 2025. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
