KUALA LUMPUR: Kuala Lumpur Kepong Bhd's (KLK), which saw net profit tumble 28.8% to RM558.24mil in the third quarter ended June 30 (3Q), expects to deliver a favourable set of results for FY22.
KLK said crude palm oil (CPO) prices have recently fallen from historical highs, triggered by global recessionary fears and a backlog of CPO stockpiles in Indonesia.
However, it noted that the supply of vegetable oils globally is still tight and prices are expected to be supported at current levels.
KLK said the operating environment for the plantation sector in the next quarter will be challenging with supply chain disruptions and inflationary pressures on fertiliser, agrochemicals and fuel prices.,
“The group has taken steps to mitigate these risks by continuing its efforts to aggressively boost productivity and enhance its mechanisation programmes.
“Plantation profit is expected to improve in FY2022, driven by higher CPO and PK prices as compared to the previous year,” it added.
On its manufacturing segment, KLK said raw material price volatility, high energy costs and persistent logistic issues continue to pose challenges for the remainder of the current financial year.
Its Q3, KLK’s revenue rose 34.6% to RM6.96bil from RM5.17bil last year. Earnings per share for the period was lower at 51.80 sen against 72.70 sen a year ago.
For the nine-month period, KLK's net profit increased 4.4% to RM1.7bil, or EPS of 158.10 sen from RM1.63bil last year, while revenue surged 44.3% to RM20.17bil from RM13.98bil a year prior.
PERIKATAN Nasional will be sending a delegation to meet with Prime Minister Ismail Sabri Yaakob to discuss the terms of cooperation between the coalition and Putrajaya, Hamzah Zainudin said.The PN secretary-general said this was because Ismail did not seem committed to fulfilling the terms of their agreement.The decision was made at the PN supreme council meeting yesterday, and was attended by chairman Muhyiddin Yassin, PAS president Hadi Awang, STAR president Jeffrey Kitingan, SAPP president Yong Teck Lee and Gerakan president Dominic Lau.“The meeting expressed disappointment with the prime minister, who is seen as though he is not determined to fulfil the important terms in the agreement between him and Perikatan.“We will send a delegation to discuss the execution of the terms of agreement soon,” Hamzah stated.Earlier this month, Muhyiddin said he had met with Ismail to discuss several important matters, including the deputy prime minister’s post.Muhyiddin, who is also Bersatu president, said the meeting was held a few days ago to consider the previous agreement between the coalition and the PM.Hamzah said the meeting also discussed the PN convention, which will be held on August 27 in conjunction with its second anniversary as well as the launch of Terengganu PN.“The meeting also made several important decisions to enhance our preparedness for GE15,” he said. – July 28, 2022.可以，没让我失望