MKH Oil Palm maintains strong outlook

KUALA LUMPUR: MKH Oil Palm (East Kalimantan) Bhd’s (MKHOP) prospects for the financial year ending September 30, 2024 remain strong, supported by robust market demand for crude palm oil, which is currently trading at approximately RM3,650 per tonne in Indonesia.

Chairman Tan Sri Alex Chen Kooi Chiew said the group is well positioned to benefit from growth in the global edible oils market and the oil palm industry in Indonesia as there is increasing demand for edible oils and fats globally.

In the third quarter ended June 30, MKHOP posted a net profit of RM16.1mil, or earnings per share of 2.09 sen, bringing its net profit for the first nine months to RM42.6mil, or 5.53 sen per share.