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(11817-V) |

Annual Report


The average oil extraction rate of 22.42% is lower

than last year’s rate of 22.71% due to higher crops

from external smallholders. The kernel extraction rate

recorded at 4.23% is higher than the previous year’s

rate of 4.01%.

The average CPO price (CIF, net of duty) achieved

during the year was RM2,064 (2015: RM2,207). The

decline was largely due to the lower average CPO

price realized in Indonesia arising from the impact of

the USD50/MT export levy on CPO by the Indonesian

government which took effect 16 July 2015. The

average CPKO price during the year was RM2,850.

During FYE2016, the Division spent approximately

RM38.46 million on capital expenditure (“CAPEX”).

The capex was largely expended towards plantation

development works, construction and refurbishment

of workers quarters as well as purchase of estate


The Group’s estate in Miri, Sarawak project is

approaching the end of its planting programme. As at

31 March 2016, 4,610.37 hectares have been planted.

The prolonged dry weather had caused a delay in the

estate’s planting activities but we expect to complete

planting at the remaining plantable areas during the

current year.

The estate’s palm oil mill project is progressing well.

The relevant tender and selection processes have

already commenced with some of the contracts

awarded. Ground works however will only commence

once all official clearances and permissions from the

authorities have been obtained.

Ladang Ayer Baloi

Ladang Amgreen

Ladang Ayer Hitam