Cover Rationale
The cover features our
emblematic logo.
The Company navigated
challenges with transparency, embraced sustainability and remained laser-focused on its strategic goals.
02 Corporate Profile
03 Corporate Information
04 Vision
05 Mission
06 Corporate Values
07 5 Years Financial Highlights
08 Corporate Structure
- Organisational Structure
- Board Of Directors
16 Conflict Of Interest
18 Key Management Personnel
21 Message To Our Shareholders
25 Management Review & Analysis By The Executive Director
39 Financial Review By
The Chief Financial Officer
45 Sustainability Statement
77 Audit Committee's Report
80 Corporate Governance Overview Statement
88 Statement On Risk Management And Internal Control
- Statement On Directors' Responsibility For Preparing The Annual Financial Statements
- Financial Statements
174 Analysis Of Shareholdings
178 Other Compliance Information
182 Top 10 Properties
- Cautionary Statement Regarding Forward Looking Statements
- Notice Of Annual General Meeting
189 Form Of Proxy
CORPORATE PROFILE
Sarawak Plantation Berhad ("SPB") was incorporated in Malaysia on 28 October 1997 as a private limited company under the name of Sarawak Plantation Sdn. Bhd. and commenced business in the same year. SPB was converted into a public company on 1 February 2000 and assumed its present name.
The Group is principally engaged in the cultivation and processing of oil palm into crude palm oil and palm kernel. Other businesses include seed production, cattle integration, laboratory services, marketing services and property investment.
SPB is one of the pioneer players in the oil palm industry in Sarawak. Currently the Group has a total land bank of 42,182 hectares ("ha"), with a total plantable area of 35,400 ha and 412 ha (planted 405 ha) under a joint venture development with a government statutory body.
The Group also owns and operates 2 palm oil mills with a total operating capacity of 140 metric tonne per hour ("mt/hour"), located at Niah and Mukah, respectively.
Details of the Group's business and operations are contained in the Management Review & Analysis by the Executive Director section of this Annual Report.
02 | SARAWAK PLANTATION BERHAD | ANNUAL REPORT 2023 |
CORPORATE INFORMATION
BOARD OF DIRECTORS
Executive Chairman
Datuk Amar Abdul Hamed bin Sepawi
Executive Director
Dato Wong Kuo Hea
Non-IndependentNon-Executive Director
Datu Hasmawati binti Sapawi
Independent Non-Executive Directors
Brigadier General Dato' Muhammad Daniel bin Abdullah (Retired)
Dato Chia Chu Fatt
Dato Awang Bemee bin Awang Ali Basah
Company Secretary
Trina Tan Yang Li (0666-KT032)
SSM Practicing Certificate No. 202008004432
Registered Office
8th Floor, Wisma NAIM, 2½ Mile, Rock Road, 93200 Kuching, Sarawak, Malaysia.
Tel: 6 082-233550 Fax: 6 082-233670
Email: spb@spbgroup.com.my
Business Office
Wisma SPB, Lot 1174, Block 9,
MCLD Miri Waterfront, Jalan Permaisuri, 98000 Miri, Sarawak, Malaysia.
Tel: 6 085-413814 Fax: 6 085-416192
Email: spb@spbgroup.com.my
Company Website
www.spbgroup.com.my
Share Registrar
TRICOR INVESTOR & ISSUING HOUSE SERVICES SDN. BHD.
Unit 32-01, Level 32, Tower A, Vertical Business Suite, Avenue 3, Bangsar South No.8,
Jalan Kerinchi, 59200 Kuala Lumpur.
Tel: 6 03-27839299 Fax: 6 03-27839222
Email: is.enquiry@my.tricorglobal.com
Auditors
KPMG PLT (LLP0010081-LCA & AF0758)
Level 2, Lee Onn Building,
Jalan Lapangan Terbang,
93250 Kuching, Sarawak, Malaysia.
Tel: 6 082-596200
Principal Bankers
AMBANK (M) BERHAD
No. 162, 164, 166 & 168,
1st Floor, Jalan Abell, 93100 Kuching P.O. Box 3240, 93762 Kuching, Sarawak, Malaysia.
Tel: 6 082-244791
CIMB BANK BERHAD
1st Floor, Lot 2691-2, Block 10 KLCD, 3rd Mile, Rock Road, 93200 Kuching, Sarawak, Malaysia. Tel: 6 082-419072
Stock Exchange Listing
MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD
on 28 August 2007 Sector: Plantation Stock Code: 5135 Stock Name: SWKPLNT
SARAWAK PLANTATION BERHAD | ANNUAL REPORT 2023 | 03 |
Vision
TO BE A FULLY
INTEGRATED HIGH
PERFORMING
ENTERPRISE
WITH DIVERSIFIED
BUSINESSES
04 | SARAWAK PLANTATION BERHAD | ANNUAL REPORT 2023 |
Mission
WE MAXIMISE
STAKEHOLDERS' VALUES THROUGH SUSTAINABLE DEVELOPMENT BY ACTIVELY ENGAGING THE BEST BUSINESS PRACTICES
SARAWAK PLANTATION BERHAD | ANNUAL REPORT 2023 | 05 |
CORPORATE VALUES
INTEGRITY…
TRUSTWORTHY AND
ACCOUNTABLE
PROFESSIONALISM...
ETHICAL APPLICATION
OF KNOWLEDGE
EXCELLENCE &
RESULT ORIENTED...
ALWAYS BE DRIVEN TO
ACHIEVE RESULTS
BEYOND STAKEHOLDERS'
EXPECTATIONS
TEAM SPIRIT...
RESPECT AND SHARING
WE STAND BY HIGH MORAL VALUES AND PRINCIPLES, EMPHASISING TRANSPARENCY IN ALL OUR CONDUCT, BEING FAITHFUL AND HONEST, AND BEING ACCOUNTABLE AND TAKING FULL RESPONSIBILITY FOR OUR BUSINESS DECISIONS AND RESULTS.
WE STRESS ON ETHICAL CONDUCT IN THE DISCHARGE OF OUR DUTIES, ENSURING HIGH QUALITY SERVICE BOTH WITHIN AND OUTSIDE THE ORGANISATION.
WE ARE RESULT ORIENTED, SETTING HIGH PERFORMANCE STANDARDS FOR OURSELVES. WE FOCUS ON OUTCOMES AND ACHIEVEMENTS, DELIVERING SUPERIOR PERFORMANCE TO STAKEHOLDERS THROUGH SUSTAINABLE DEVELOPMENT, HENCE BUILDING A SOCIALLY RESPONSIBLE ORGANISATION.
WE RESPECT EACH OTHER AND RECOGNISE CONTRIBUTIONS BY EACH INDIVIDUAL. WE ENCOURAGE EFFECTIVE WORKING RELATIONSHIPS VIA AN ENVIRONMENT WHICH ENCOURAGES MUTUAL SUPPORT AND CARE, CO-OPERATION AND SHARING OF KNOWLEDGE AND EXPERIENCE.
INNOVATIVE...
GROWING THROUGH CHANGE
AND MOVING AHEAD | WE ENCOURAGE CREATIVITY IN OUR BUSINESS |
OF THE TIMES | TO PRODUCE SIGNIFICANT ORGANISATIONAL |
IMPROVEMENTS, WE WELCOME NEW IDEAS AND BELIEVE | |
IN BEING FORWARD LOOKING IN OUR BUSINESS. |
06 | SARAWAK PLANTATION BERHAD | ANNUAL REPORT 2023 |
5 YEARS FINANCIAL HIGHLIGHTS
Year | 2023 | 2022 | 2021 | 2020 | 2019 |
Revenue (RM'000) | 570,677 | 710,912 | 790,524 | 465,750 | 347,528 |
Profit before tax (RM'000) | 87,443 | 134,213 | 168,391 | 83,055 | 28,409 |
Profit attributable to owners | |||||
of the Company (RM'000) | 64,443 | 96,713 | 127,826 | 61,421 | 20,918 |
Total assets (RM'000) | 954,664 | 950,677 | 974,683 | 878,007 | 833,996 |
Net assets (RM'000) | 748,541 | 712,002 | 671,095 | 585,124 | 552,033 |
Total equity attributable | |||||
to owners of the | 748,541 | 712,002 | 671,095 | 585,124 | 552,033 |
Company (RM'000) | |||||
Total number of shares ('000) | 280,000 | 280,000 | 280,000 | 280,000 | 280,000 |
Net assets per share (RM) | 2.68 | 2.55 | 2.40 | 2.09 | 1.97 |
Basic earnings per share (sen) | 23.1 | 34.7 | 45.8 | 22.0 | 7.5 |
Dividend per share (sen) | 10.0 | 15.0 | 20.0 | 10.0 | 5.0 |
Gearing (%) | 1 | 2 | 10 | 18 | 22 |
SARAWAK PLANTATION BERHAD | ANNUAL REPORT 2023 | 07 |
CORPORATE STRUCTURE
Investment Holding
100%
100%
100%
SARAWAK PLANTATION AGRICULTURE DEVELOPMENT SDN BHD
Cultivation of oil palm and processing of fresh fruit bunches
SARAWAK PLANTATION PROPERTY HOLDING SDN BHD
Property investment
TELLIANA OIL PALM SDN BHD
(Inactive)
100%
70%
60%
SARAWAK PLANTATION SERVICES SDN BHD
Provision of management,
marketing, agronomic and consultancy services
SPB PPES KARABUNGAN PLANTATION SDN BHD
Cultivation of oil palm
SPB PELITA SUAI
SDN BHD
(Inactive)
08 | SARAWAK PLANTATION BERHAD | ANNUAL REPORT 2023 |
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Sarawak Plantation Bhd published this content on 24 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 April 2024 01:09:05 UTC.