KOTA KINABALU: Sawit Kinabalu paid a dividend totaling RM30 million to the State Government for the financial year ending Dec 31, 2021 and as an interim dividend for the second quarter of this year.
Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor who is also Sawit Kinabalu Group chairman witnessed the presentation of dividend from Sawit Kinabalu Group Managing Director Datuk Bacho Jansie to State Secretary Datuk Seri Panglima Sr Safar Untong at Menara Kinabalu near here today.
Sawit Kinabalu registered a pretax profit of RM350 million last year.
Since 1996, the Group had paid dividends totaling RM1.3 billion to the State Government.
Chairing the Sawit Kinabalu Sdn Bhd and Borneo Samudera Sdn Bhd board of directors meeting later, Hajiji commended Sawit Kinabalu Group for surpassing the profit before tax target by 222 per cent during the first six months of this year.
The Group chalked a pretax profit of RM220.16 million compared to the target of RM99.11 million due to the surge in crude palm oil (CPO) price which is RM6,215 per metric tonne.
Nonetheless, Hajiji cautioned the management that the price of CPO in the second half of the year is expected to drop to between RM4,000/MT and RM4,300/MT.
“I call upon the management to take proactive actions in addressing the challenge as well as the rising production cost,” he said.
The Chief Minister congratulated the management team for winning two awards namely the Conservation Partner Award from the State Forestry Department and the World Brand Laureate Best Brand Award for Corporate Excellence in Palm Oil 2021-2022 recently.
“Sawit Kinabalu is the first palm oil industry company in Sabah to win the Best Brand Award. This shows that Sawit Kinabalu is on the right track and I hope the awards will further motivate you to work harder to ensure Sawit Kinabalu continues to increase productivity and to excel,” he said.
Present were Sawit Kinabalu Group Deputy Chairman, Datuk Rubin Balang and Borneo Samudera Sdn Bhd Deputy Chairman Khairul Firdaus Datuk Akbar Khan.