OILS Spreads Dividends and Gets Discounts on Coconut Oil Exports to Russia

OILS Spreads Dividends and Gets Discounts on Coconut Oil Exports to Russia

Coconut oil producer PT Indo Oil Perkasa Tbk. (OILS) determines the distribution of cash dividends of IDR 1.4 billion or 11 percent of net profit. The remaining net profit of IDR 11.37 billion will be retained by OILS as retained earnings. This year, OILS Managing Director, Johan Widakdo Liem aims for sales to reach IDR 591.33 billion.

“We aim for year-end sales to reach around IDR 600 billion,” he said in a public disclosure on Friday (26/5/2023).

According to him, OILS will focus on opening new foreign markets to achieve the goal. About 2022, OILS will be able to export to Thailand, Malaysia, Sri Lanka and Bangladesh. “This year, we have opened the markets of Central Asia, such as Tajikistan and Kyrgyzstan,” he said.

OILS has also been trying to open new markets such as China and Russia. According to him, the potential of crude coconut oil (CNO) and its products is still very open. This is because CNO has the potential to be an alternative product to replace crude palm oil (CPO). headtopics.com

OILS will increase production and storage capacity, including a new 400-ton storage tank and the addition of a new machine that will be operational in August 2023.

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