23 June 2018

INILAH,COM, Jakarta - Prospective issuer PT Mahkota Group, a company engaged in the palm oil industry, targets to reap a net profit this year of IDR 50 billion.

This target is much higher than in 2017, which earned a net profit of around IDR 12.3 billion. “This year our business plan includes IDR 50 billion in net profit, IDR 2 trillion in revenue. We must be sure to achieve it because we see the condition of one month is improving,” said President Director of Mahkota Group, Usli in a press conference in Jakarta, Friday (6/22/2018).

According to Usli, the palm oil business is highly dependent on the weather. He believes that palm oil production in the second semester of this year will begin to improve because the rainy season has entered.

“This year we are sure that in the second semester the company will be better with more raw materials and the signs are that today many FFBs (fresh fruit bunches) have started to come in,” he said.

He revealed that the decline in the company's performance last year was due to weather factors, last year there was a drought that caused forest fires which immediately eroded the company's revenue.

For your information, PT Mahkota Group plans to conduct an Initial Public Offering (IPO) of as many as 703,688,000 shares of Ordinary Shares or as much as 20% of the total Issued and Fully Paid-up Capital after the implementation of the IPO.

The Nominal Value is IDR 100 per share with an Offering Price Range of IDR 200 to IDR 250/share.

Usli, revealed that around 60% of the IPO proceeds will be used for the development of the downstream industry through investment in PT Mutiara Unggul Lestari's (MUL Subsidiary) subsidiary, PT lntan Sejati Andalan (ISA 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 Province.

Then, around 40% of the IPO proceeds will be used for working capital to its subsidiaries, namely PT Mutiara Unggul Lestari, PT Berlian lnti Mekar and PT lntan Sejati Andalan. [hid]

Source : https://warta.sumedang.info/ekonomi-bisnis/93606-mahkota-group-targetkan-laba-rp50-m-tahun-ini/