PROSPECTS The Board is optimistic and expects to achieve satisfactory results for the financial year ending 30 September 2024 (“FYE2024”). Property Development and Construction With the locked-in unbilled sales of RM841.2 million (FY2022: RM906.2 million), the Group is well positioned for FYE2024 with new and ongoing developments such as MIRAI Residences @ Kajang 2 Precinct 1, Nexus @ Taman Pertama, TR2 Residence @ Jalan Tun Razak, Hill Park Shah Alam, Nexus @ Kajang Station, Kajang East Avenue 2 Shops, Akina @ Kajang 2 Precinct 2 Phase 1 and Phase 2. These sales will ensure sustainable income recognition for the next two years, with additional contributions from strategically located new projects in Kuala Lumpur, Cheras and Kajang. The Group’s planned launches in FYE2024 comprising of high rise service apartments and retail commercial shops development known as Gaya Residency @ Kajang 2 Precinct 2 (Phase 2), Residensi Naluri @ Mahkota Cheras (Phase 1) and Kajang 2 Precinct 3 (RSKU), landed retail shops development known as Kajang 2 Precinct 3 (Phase 4), landed residential development known as Annya @ Kajang 2 Precinct 3 (Phase 3) and Kajang East Precinct 1 (Phase 3B) with a total GDV of approximately RM640.0 million will be phased according to prevailing market sentiments. Plantation The CPO prices remain well supported due to good demand and tighter supply with current CPO price trading at approximately RM3,600/MT (net of export levy and duty) in Indonesia which augurs well for our Plantation Division. With the anticipated higher CPO production in FYE2024 due to the weather normalization and enhancement of our production efficiencies, we expect our plantation division to deliver better results for FYE2024. The Group will continue to expand on the use of mechanical assisted collection of FFB to increase production efficiencies and to maximize oil extraction at our CPO mill to take advantage of the favourable CPO price. The CPO prices remain well supported due to good demand and tighter supply with current CPO price trading at approximately RM3,600/MT (net of export levy and duty) in Indonesia which augurs well for our Plantation Division. MANAGEMENT DISCUSSION AND ANALYSIS REPORT Artist’s impression of Akina @ Kajang 2 Precinct 3 Phase 1A & 1B Our harvesters loading freshly harvested fruit bunches 32 MKH BERHAD | ANNUAL REPORT 2023
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