SMAR - PT. Sinar Mas Agro Resources and Technology Tbk

Rp 5.150

-25 (-0,49%)

JAKARTA. PT Sinar Mas Agro Resources and Technology Tbk (SMAR) discovers opportunieis to export palm kernel shells in the future, following the news of decreased export taxes for palm shells.

Jimmy Pramono, Corporate Secretary of SMAR, admitted that the palm kernel shells contribution to the sales is not quite significant. This is because the shells are by-products generated from the process of turning palm kernels into palm kernel oil.

“However, it does not rule out the possibility of the company to export these palm kernel shells in the future,” Pramono claimed in the information disclosure in Indonesia Stock Exchange (IDX).

On the same occasion, Pramono also reaffirmed that SMAR has continued to enhance its portfolio of palm kernel products with added values. This strategy is intended to meet the ever-growing market demands of healthier and more sustainable palm kernel products.

Based on data, SMAR sales grew 43.17% year-on-year (yoy) throughout January-September (9M) 2021 to IDR 40.38 trillion. Meanwhile, the net profit in that period reached IDR 1.79 trillion. (KR/ZH)