Fima Corp Bhd ... Sept 2008

Financial Results

For its first quarter ended June 30, Fima posted 129.3% jump in net profit to RM14.01mil and 59.05% increase in revenue to RM63.89mil compared with the previous corresponding period.

For FY08, Fima registered 12.4% increase in net profit to RM176.79mil and 11.04% rise in revenue to RM176.79mil. For FY08, it will pay total net dividend per share of 11.93 sen.

Going Forward

Currently, its production and trading of security documents division contributes 60% to the company’s revenue.

The company would continue to bank on the production and trading of security and confidential documents as well as its palm oil production to be the main revenue drivers in FY09. However, we expect higher quantum of revenue growth from the oil palm division in view of higher fresh fruit bunch production.

Fima, which has an 80% stake in palm oil-based Indonesian company PT Nunukan Jaya Lestari, also expected revenue contribution from its oil palm division to increase to RM60mil in FY09 from RM22mil in FY08.

On landbank expansion, Fima was in no hurry to expand now as it still had 7,500ha to be developed. It would, however, be eyeing Indonesia for future expansion.