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FIMA CORPORATION BERHAD
(21185-P) |
Annual Report
2016
MANAGEMENT DISCUSSION
AND ANALYSIS
(contd.)
PLANTATION
BUSINESS OPERATION REVIEW
The Plantation Division recorded RM102.6 million revenue, a decrease of RM4.5 million compared to last year.
PBT registered was RM 21.4 million, a decrease of 38.0% year-on-year. The decline in revenue and PBT was
primarily attributable to decrease in CPO average CIF selling price realised of RM2,064 per metric tonne (“mt”)
compared to RM2,207 per mt in the previous year. The CPO price was also negatively impacted by an export levy
of USD50 per mt imposed by the Indonesian government effective 16 July 2015.
For the period under review, the Group’s Indonesian subsidiary, PT Nunukan Jaya Lestari harvested 149,060 mt
(FY2015: 149,701 mt) fresh fruit bunches (“FFB”), 0.4% decrease year-on-year. The average yield per mature
hectare had marginally decreased to 23.17 mt/ha (FY2015: 23.14 mt/ha), mainly due to the prolonged dry weather
experienced during the year. Purchase of FFB from third parties decreased to 53,198 mt from 60,677 mt last year.
Production of CPO and crude palm kernel oil during the year totalled 45,387 mt (FY2015: 47,649 mt) and 3,363 mt
(FY2015: 1,191 mt) respectively. The average oil extraction rate of 22.42% was marginally lower than last year’s
rate of 22.71%.
During FY2016, the Division spent RM10.6 million on CAPEX, largely towards plantation development works,
construction and refurbishment of workers quarters as well as estate equipment.
Indonesia
PLANTED AREA (HA)
Peninsula
489.09
6,432.99
AVERAGE CPO PRICE REALISED
2016
2015
2014
2013
2012
2,064
2,430
2,155
2,068
2,207