MAHKOTA GROUP (MGRO) PROJECTS CPO PRODUCTION IN THE FIRST QUARTER OF 2019 TO REACH 50.827 TONS
13 March 2019
KONTAN.CO.ID - JAKARTA. PT Mahkota Group Tbk produced 41,767 tons of crude palm oil (CPO) in the January-February 2019 period.
“The projected CPO production in the first quarter of 2019 is around 50,827 tons,” said President Director of Mahkota Group, Usli Sarsi, Friday (8/3).
Issuer coded as MGRO is also developing its downstream business by operating a refinery and kernel crushing plant through its subsidiary PT Intan Sejati Andalan in Dumai in June this year.
He said the plant will produce cooking oil with a production capacity of 1,500 tons per day, while the kernel crushing plant will produce palm kernel oil of 400 tons per day.
Usli revealed that this factory will be completed and able to operate this year. Not only that, they will also add a stockpile tank for their subsidiary, PT Dumai Pracipta Abadi, they will add this stockpile tank of 20,000 metric tons, currently they have a stockpile tank with a capacity of 76,000 tons.
For this reason, in a previous interview they had also budgeted a capital expenditure of IDR 200 billion, which is planned to be obtained from bank loans and funds from the IPO proceeds.
In terms of financial performance, MGRO is aiming for a revenue of IDR 5 trillion with a net profit of IDR 123 billion. Meanwhile, throughout last year they managed to obtain revenue of IDR 2 trillion.
Reporter : Ika Puspitasari
Editor : Yoyok