Managing Director's Management Discussion and Analysis

Managing Director's Statement - Tiong Chiong Ie

Dear Shareholders,

On behalf of the Board of Directors of Rimbunan Sawit Berhad, it is my privilege to put forward to you the Annual Report of our Company and Group for the financial year ended 31 December 2022.

For the 31 December 2022 financial year under review, the Group reported a total revenue of RM675.9 million and gross profit of RM61.0 million which contributed 24.8% and 11.8% higher than corresponding period in 2021. Overall sales volume of CPO and PK production increased by 6.8% and 6.5% to 110,607MT and 23,812MT respectively.

On the other hand, there had been favorable growth in the average selling price of CPO and PK with an increase of 14.2% and 5.1% to RM4,885 and RM2,815 respectively as compared to 2021. Higher FFB production in 2022 together with the hike in FFB average selling price secured the FFB revenue towards positive trend with an increase of 16.1%.

The Group reported a pre-tax profit of RM6.0 million, which is an increase of 106.9% from RM2.9 million pre-tax profit in 2021, followed with lower loss after taxation by 17.1% from RM7.0 million to RM5.8 million in 2022.