MKH Annual Report 2020

CORPORATE INFORMATION 20 ANNUAL REPORT 2020 During the financial year, the Company repurchased 1,618,700 of ordinary shares, representing 0.28% of the total number of shares, at an average price of RM0.91 per share, amounting to approximately RM1.5 million including transaction costs. The exercise was financed by internally generated funds. For FY2020, an interim dividend of 3 sen per ordinary share amounting to approximately RM17.3 million was declared on 27 November 2020 and paid on 8 January 2021. This represents adistributionof approximately41.5% of the Group’s net profit attributable to shareholders. Moving forward, we are confident that the Group is well positioned to create sustainable businesses with our TOD model. While the Klang Valley residential market in general is foreseen to remain challenging, we are confident that our strategy of building affordable housing at good location with TOD concept will continue to receive good take up rate. We are also optimistic that CPO price will remain well supported in 2021 with the current CPO price trading Chairman’s Statement above RM2,750/MT (net of export levy and duty) in Indonesia. This is due to improved demand and a tighter palm oil stocks, concerns over the La Nina wet weather impact on edible oil supplies and labour constraints as well as movement restrictions due to the COVID-19 pandemic. The adoption of B30 biodiesel mandate in Indonesia will further increase the demand for CPO. We will continue to focus on our efforts to maximise CPO production and operation efficiency. On behalf of the Board of Directors, I would like to express our sincere appreciation and thanks to our valued shareholders, customers, bankers, business associates and regulatory authorities for their continued support towards the Group. I would also like to extend my heartfelt gratitude to my Board members, management team and all employees for their commitment and teamwork towards the Group’s success. I believe that MKH Berhad is well positioned to achieve greater success in year 2021 with the continued support from all of our stakeholders. Thank you. Tan Sri Dato’ Alex Chen Kooi Chiew Group Executive Chairman Artist’s impression of the new and upcoming transit-oriented developments (“TOD”) in the heart of Kajang city centre, MKH Boulevard II Fresh fruit bunches are harvested at the right time