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3 2
Performance Review
The Group owns and
operates 14 estates in
Malaysia and Indonesia
with land bank totaling
30,898 hectares, of
which 14,132 hectares
have been planted with
oil palm.
Plantation Division recorded a revenue
of RM153.65 million for the financial year
ended 31 March 2018, an improvement
of 4.6% from RM146.87 million achieved
last year. This follows the increase in fresh
fruit bunch (“FFB”) production to 198,644
metric tonne (“MT”) compared to 149,753
MT harvested last year with an average
yield of 22.9 MT per mature hectare
(FYE2017: 19.4 MT). The average price
realized for CPO (net of duty) registered
during the year was RM2,342.00 per
MT compared to RM2,625.00 per MT
last year. The decline in prices was due
largely to the significant increase in global
crop production as average palm yields
recovers from the effects of the El Nino
phenomenon.
Higher PBT of RM28.34 million was
recorded on the back of higher CPO
and CPKO sales volumes compared
to previous year in which the Division
had recorded loss of RM5.96 million
due to recognition of impairment losses
on property, plant and machinery
and biological assets in the Group’s
Indonesian subsidiary, PT Nunukan
Jaya Lestari (“PTNJL”) totaling RM29.37
million. Without the impairment losses,
the Division’s PBT for FYE2017 would
have been RM23.41 million.
FFB produced by PTNJL increased
33.4% to 175,425 MT (FYE2017: 131,484
MT). A higher yield per hectare of 27.5
MT was recorded compared to 20.6 MT
last year. Meanwhile FFB purchased
from third parties increased to 60,460
MT from 51,853 MT in the previous year.
FFB production of our Johor estates
have also improved by 4.0% to 17,912
MT, (FYE2017: 17,195 MT) due to better
yield per mature hectare of 21.1 MT
against the 20.3 MT achieved last year.
FFB production from the newly matured
areas at our estate in Miri, Sarawak had
increased almost five-fold y-o-y, from
1,075 MT achieved to 4,958 MT.
CPO and CPKO production during
the year under review was 51,887 MT
Building Momentum
Plantation Division