On Monday, 9 November 2020, PT Palma Serasih Tbk, a public company operates in palm oil plantation sector, has commenced commissioning of the second Palm Oil Mill, located in East Kalimantan, with processing capacity of 90 ton per hour. This mill is planned to start its commercial production at the end of November 2020, and hence the Company’s production capacity is expected to increase 2.5 times from the current production capacity.
At the end of the 3rd Quarter of 2020, the Company has reported net income of Rp.2.3 billion, a significant increase in comparison to the same financial reporting period in 2019, where the Company reported net loss of Rp.96 billion. The Company’s revenue has increased by 34.6%, from Rp.521 billion last year to Rp701 billion this year, which has become the main contributor towards the Company’s financial performance growth. Increasing average CPO market price and increasing CPO production in 2020 are the contributing factors towards the Company’s revenue growth.
Facing the COVID-19 pandemic, the management of PT Palma Serasih Tbk focuses more on fundamentals to sustain operation and improve operational efficiency and effectiveness of the Company.
The article was published on bisnis.com "Tambah PKS, Palma Serasih (PSGO) Mantap Masuk Sektor Perkebunan"