Sawit Kinabalu Group posts pre-tax profit of RM2.56b

Sawit Kinabalu Group, the state government's fully owned corporate arm, has recorded a total pre-tax profit of RM2.56 billion since its establishment 15 years ago.

Chief Minister Datuk Seri Musa Aman said the excellent performance was proof
that the decision to corporatise Kumpulan Sawit had been a right move.

Last year alone, the group recorded a pre-tax profit of RM202 million, he
said. "I have congratulated the management of Kumpulan Sawit Kinabalu for having brought much progress to the government linked company.

"Although still new in the corporate sector, its progress is clear through
the big contribution it has made in the development of palm oil industry
especially in Sabah," he said in his speech during the company's annual dinner
here today.

Musa who is also Chairman of Kumpulan Sawit Kinabalu said the company had
contributed, through the sales tax of crude palm oil, more than RM50 million
last year and for this year, its contribution amounted to RM51 million as of
October.

This will benefit the state government in its plans to drive the economic
growth of Sabah, he said. -- Bernama