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Fima CORPORATION Berhad
(197401004110) (21185-P) •
Annual Report 2020
29
FYE2019
FYE2020
Change
%
CPO
RM1,921 per MT RM2,073 per MT
7.9
CPKO
RM3,015 per MT RM3,242 per MT
7.5
FFB Production 166,080 MT 156,450 MT
(5.8)
Indonesia Oil Palm Facts
Smallholders
40.3%
State owned estates
6.7%
Privately
owned estates
53.0%
Source: Indonesia Directorate General of Agricultural, DBSVI
Indonesia Palm Oil Hectarage Forecast
Oil palm planted area (‘000 hectares)
2019F 2020F 2021F 2022F 2023F 2024F 2025F 2026F 2027F 2028F 2029F 2030F
Mature
9,751.6 9,784.2 9,775.9 9.688.7 9,621.8 9,565.1 9,502.7 9,437.0 9,369.7 9,301.8 9,234.0 9,166.5
Immature
2,154.6 2,149.4 2,192.8 2,268.3 2,339.8 2,399.0 2,462.8 2,529.2 2,597.0 2,665.1 2,733.0 2,800.6
New Planting 49.9 27.5 15.1
8.3
4.6
2.5
1.4
0.8
0.4
0.2
0.1
0.1
Total
11,956.1 11,961.1 11,963.8 11,965.3 11,966.2 11,966.6 11,966.9 11,967.0 11,967.1 11,967.1 11,967.1 11,967.2
Source: Oil World, Ministry of Agriculture of Indonesia, DBS Bank estimates
For FYE2020, Group revenue decreased 0.7% to RM243.13
million from RM244.72 million recorded last year on the back of
lower revenue contributions from Manufacturing and Property
Management.
Manufacturing division’s revenue declined by 0.6% to RM134.00
million from RM134.78 million achieved last year, impacted by
the continuous declines in volumes as well as changes in order
patterns for certain product segments.
Despite the lower volumes of CPO and CPKO sold in FYE2020,
Plantation division’s revenue improved by 0.3% to RM103.12
milllion compared to RM102.84 million recorded last year. The
better performance was largely due to additional revenue
contribution of RM2.81 million from Malaysian estates this year.
In addition, our CPO and CPKO prices realised also improved
y-o-y by 7.9% and 7.5% respectively. Average CPO (CIF, net of
duty) selling price was RM2,073 per MT (FYE2019: 1,921 per MT)
while the average CPKO price achieved was RM3,242 per MT
(FYE2019: RM3,015 per MT). The improved performance was
partially offset by lower overall FFB production to 156,450 MT
from 166,080 MT during the year.
GROUP REVENUE
RM243.13
million
0.7% Decrease Y-o-Y
(FYE2019: RM244.72 million)
Breakdown of revenue by division:
FYE2019 Contribution
FYE2020 Contribution
Variance
Variance
RM Million
% RM Million
% RM Million
%
Manufacturing
134.78
55.1
134.00
55.1
(0.78)
(0.6)
Plantation
102.84
42.0
103.12
42.4
0.28
0.3
Others/Non-core
Property Management
7.10
2.9
6.01
2.5
(1.09)
(15.4)
Group Results
244.72
100.0
243.13
100.0
(1.59)
(0.7)