23 June 2018

Jakarta: The oil palm sector company, PT Mahkota Group, is optimistic that it can target revenues of IDR 2 trillion throughout 2018 or grow 13.63 percent from the position of IDR 1.76 trillion last year. However, the level of income will be influenced by good weather until the end of this year.
 
President Director of Mahkota Group Usli Sarsi stated that he was optimistic about the company's revenue performance this year, because oil palm production in the second semester would begin to improve.

“The rainy season has started, so it will improve in the second semester. Although there was a decline yesterday due to weather factors. The situation is improving, because there are more raw materials and signs that many fresh fruit bunches (FFB) have started to enter, “Usli said, met after the Mahkota Group IPO public exposure at The Ritz Carlton Pacific Place, Sudirman SCBD, Jakarta, Friday, June 22, 2018.

The projected positive revenue this year, he said, will also have a big impact on the company's net profit, which will be IDR 50 billion or greater than the achievement of IDR 17.2 billion in 2017.
 
The decline in performance in 2017, according to him, was largely due to weather factors. Just imagine, there was a drought that caused forest fires.

“Our industry is very dependent on environmental conditions, that's why last year there was a decline in our revenue and profit,” he said.

This year's optimistic performance, he believes, is helped a lot by building a Refinery plant with a capacity of 1,500 tons per day and the construction of a Kernel Crushing Plant with a capacity of 200 to 400 tons per day.

The construction of the factory that the company is running takes eight months, starting three months after the company receives the proceeds from the Initial Public Offering (IPO) that the company is running.

The company will release 703.68 million shares at a price range of IDR 200-250 per share. That way, the company can get fresh funds of around IDR 140.73 billion to IDR 175.92 billion.

60 percent of the IPO proceeds will be used to develop the downstream industry through investment in the subsidiary of PT Mutiara Unggul Lestari (MUL), PT lntan Sejati Andalan (ISA, a subsidiary of MUL), which will be used for the construction of a Refinery and Kernel Crushing Plant located on Duri Dumai Road, Bathin Sobanga Village, Bengkalis Regency, Riau.

“The remaining 40 percent will be used for the working capital of subsidiaries, Mutiara Unggul Lestari, PT Berlian Inti Mekar and PT Intan Sejati Andalan,” he said.

Source : https://www.medcom.id/ekonomi/bursa/gNQnZBqb-mahkota-group-incar-pendapatan-rp2-triliun