KOTA KINABALU: Sawit Kinabalu Sdn Bhd is confident of achieving RM150mil in profits this year.
Its group managing director Datuk Othman Walat said Sawit Kinabalu, which is the investment arm of state government in the oil palm industry, saw good crops production for the first half of this year.
“Up to June, we have registered reasonable profit at about RM60million profit before tax.
“If the price of average crude palm oil (CPO) continues to hold, we may be able to surpass our target for this year,” he said when met at the company’s open house here this morning.
Also present was Sabah Chief Minister Datuk Seri Musa Aman, who is also the chairman of Sawit Kinabalu.
The average CPO price has been pegged at RM2,650 per tonne for this year’s forecasts.