Sawit pays RM30m dividend to State Government
Published on: Monday, September 05, 2022
Hajiji (sixth right) witnessing the presentation of dividend from Bacho (fourth left) to Safar (fifth right) at Menara Kinabalu.
SAWIT Kinabalu Group paid RM30 million in total dividend to the Sabah Government for the financial year ending Dec 31, 2021, and also as an interim dividend for the second quarter of this year.Chief Minister Datuk Seri Hajiji Noor witnessed the dividend presentation from Sawit Kinabalu Group Managing Director Datuk Bacho Jansie to State Secretary Datuk Seri Safar Untong at Menara Kinabalu, Kota Kinabalu, on Sept 1.
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Hajiji, who is also Sawit Kinabalu Group Chairman, commended the group for surpassing the profit before tax target by 222 per cent during the first six months of this year.
“The group chalked up a pre-tax profit of RM220.16 million compared to the target of RM99.11 million due to the surge in crude palm oil (CPO) prices which is RM6,215 per tonne,” he said.
Sawit Kinabalu registered a pre-tax profit of RM350 million last year.
Since 1996, the group had paid dividends totalling RM1.3 billion to the State Government.
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However, Hajiji cautioned the management that CPO prices are expected to drop to between RM4,000 per tonne and RM4,300 per tonne in the second half of the year.
“I call upon the management to take proactive measures in addressing the challenge as well as the rising production cost,” he said.
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The Chief Minister also congratulated the management team for winning two awards recently.
The accolades are 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.
“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 the group to work harder to ensure increased productivity and to excel,” said Hajiji.
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