JAKARTA. PT FAP AGRI Tbk (FAPA), a plantation company owned by the Fangionos, recently received interim dividends of IDR 23.75 billion from one of its subsidiaries, PT Riau Agung Karya Abadi (RAKA).
According to idnfinancials.com, RAKA is a company that was 95% owned by FAPA, as recorded on September 30, 2021. RAKA has managed the palm plantation business since 2001, possessing assets of IDR 265.15 billion.
RAKA owns a palm plantation with a right to cultivate over a land of 29.90 hectares in Kampar, Riau. The period of the said permit will be over on January 26, 2056.
Throughout January-September (9M) 2021, FAPA’s net sales were reported to reach IDR 2.18 trillion. The most extensive contributor to the said achievement is the palm oil products, bringing IDR 1.76 trillion to the table. Then, it was followed by fresh fruit bunch sales of IDR 238 billion, palm kernels of IDR 92 billion, palm kernel oil of IDR 89 billion, and palm kernel expellers of IDR 6.2 billion.
With these gains, FAPA ended up with a net profit of IDR 141.9 billion while keeping assets of IDR 7.89 trillion. (KR/ZH)