MKH’s oil palm cultivation efforts extend across two estates in East Kalimantan, managed under PT Maju Kalimantan Hadapan (PT MKH) and PT Sawit Prima Sakti (PT SPS). These estates collectively cover approximately 18,205 hectares (equivalent to 44,986 acres) and operate a 90 metric tonnes (MT) per hour crude palm oil (CPO) mill, a 90 MT per day crude palm kernel oil (CPKO) mill and a jetty. Notably, our estates have consistently demonstrated strong performance, with fresh fruit bunches (FFB) yields averaging between 24 MT to 30 MT per hectare annually. For the financial year 2024 (FY2024), our CPO production reached a commendable 91,635 MT. In a significant milestone, our subsidiary MKH Oil Palm (East Kalimantan) Bhd (MKHOP) was listed on the Main Market of Bursa Malaysia Securities Berhad on 30 April 2024. This listing marks a pivotal step in unlocking the full potential of our investment in MKHOP and enhancing shareholders’ value. The initial public offering (IPO) comprised a public issue of 220 million new MKHOP shares, representing 21.5% of its enlarged share capital, which raised RM136.4 million and offer for sale of 30,707,700 MKHOP shares by way of private placement to selected investors which raised approximately RM19.04 million. The majority of the IPO proceeds will be used to expand our oil palm plantation business and optimize fresh fruit bunch harvesting and palm oil milling activities. Additionally, the strategic location of our estates within a 100-kilometer radius of Nusantara, the new capital city of Indonesia, places MKHOP in an advantageous position to leverage on future growth opportunities. This IPO listing provides MKHOP with the added resources and flexibility to expand its oil palm plantation in East Kalimantan, Indonesia. Our property investment division established in 1996, proudly anchors two eco conscious shopping malls, Plaza Metro Kajang and Metro Point Complex. Located in the heart of Kajang town, these malls have embraced a forward looking approach by integrating solar energy solutions. This green initiative not only significantly reduces electricity costs but also underscores our commitment to environmental responsibility. The installation of solar panels represents a strategic, long-term investment that yields substantial benefits for both our company and environment. Plaza Metro Kajang and Metro Point Complex furthered our sustainability efforts by installing Electric Vehicle (EV) charging stations for our customers. This initiative aligns with our dedication to fostering a more sustainable and environmentally friendly future. Our estates have consistently demonstrated strong performance, with FFB yields averaging between 24 MT to 30 MT per hectare annually. For FY2024, our CPO production reached a commendable 91,635 MT. This IPO listing provides MKHOP with the added resources and flexibility to expand its oil palm plantation in East Kalimantan, Indonesia. In a significant milestone, our subsidiary, MKH Oil Palm (East Kalimantan) Bhd was listed on the Main Market of Bursa Malaysia Securities Berhad on 30 April 2024. 91,635 MT Our Company Profile PG. 18 Laying The Foundation of Excellence Where People Matter Guided by Leadership, Inspired by People Delivering Value That Matters to People MKH BERHAD ANNUAL REPORT 2024
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