LKF Partners

KIM LOONG RESOURCES BERHAD (KMLOONG 5027)

SNAPSHOT

Kim Loong Resources Berhad is involved in cultivation of oil palm, processing of oil palm fresh fruit bunches, marketing of oil palm products, processing of oil palm fibre and biogas. It focuses on high-yield oil palm cultivation, sustainable milling in Johor, Sabah, and Sarawak, and has earned recognition for operational efficiency, strong shareholder returns, and pioneering biogas technology.

As at 31 January 2025, Kim Loong’s plantation land holdings total around 17,000 hectares of which 93% are fully planted. Around 71% of planted area consists of mature palms (above 6 years), 19% are young mature (below 6 years) while 10% comprises immature plants. Plantations are located in Johor, Sabah and Sarawak. In addition, Kim Loong owns and operates three palm oil mills located in the vicinity of its plantations in Kota Tinggi (Johor), Keningau (Sabah) and Telupid (Sabah). These mills have a combined FFB processing capacity of 1.8 million MT per annum.

1967 – Sharikat Kim Loong Sendirian Berhad (“SKL”), holding company of Kim Loong Resources Berhad commenced business with 1,000-acre rubber plantation at Ulu Tiram, Johor. The first planting of oil palm started in 1968.

1977 – Incorporation of Kim Loong Palm Oil Sdn Bhd (KLPO) by SKL to undertake the milling operations. Relocation of palm oil mill to Kota Tinggi, Johor.

1996 – Kim Loong Palm Oil Mills Sdn Bhd which commenced operations in 1996.

1981 – SKL expanded into Sabah by acquiring 1,000 acres of land in Sandakan, Sabah. Cocoa was first planted on the land followed by oil palm.

1997 – JV with Korporasi Pembangunan Desa to develop 4,000 acres of land in Telupid, Sandakan, Sabah into an oil palm plantation. Restructuring exercise to transfer all Sabah plantation operations to Kim Loong Resources Berhad.

1998 – Incorporation of Kim Loong Corporation Sdn Bhd (“KLC”) by SKL to enter into a JV to develop 17,731 acres of land into oil palm plantation and to erect new palm oil mill in Sook, Keningau, Sabah.

1999 – As part of the listing restructuring exercise, KLPO group (milling operations at Kota Tinggi, Johor) and KLC (the plantation and milling operations at Sook, Keningau, Sabah) were transferred to Kim Loong Resources Berhad.

2000 – Kim Loong Resources Berhad was listed on the Main Board of the Kuala Lumpur Stock Exchange (now Bursa Malaysia Securities Berhad)

2004 – Entered into a Joint Venture to develop 2,702 acres of land in Kota Tinggi, Johor. Capacity
of Keningau Mill in Sabah was successfully expanded to 45 MT of FFB per hour.

2010 – Expanded into Sarawak by acquiring a joint venture company with Pelita Holdings Sdn Bhd to develop Native Land with estimated plantable area of 6,300 Ha in Sri Aman Division.

2018 – Corporate Exercise involving Share Split (1 existing ordinary share to 3 Subdivided
Shares) and Bonus Issue of Warrants (1 Warrant for every 20 Subdivided Shares) in April 2018.

YE 31-Jan 2020 2021 2022 2023 2024 2025 2026
Revenue (RM mil) 679.6 971.7 1,702.7 1,908.3 1,526.1 1,684.0 1,823.9
Operating Profit (RM mil) 61.1 145.6 212.3 254.8 234.8 258.6 278.7
Profit Before Tax (RM mil) 60.4 144.6 210.3 252.4 232.3 255.3 271.4
Net Profit After Tax (RM mil) 41.1 94.9 136.6 162.3 147.8 161.4 168.5
EPS (RM) 0.044 0.102 0.144 0.168 0.153 0.166 0.172
DPS (RM) 0.03 0.07 0.10 0.10 0.10 0.10 0.11
DPS Special (RM) 0 0.03 0.04 0.05 0.03 0.05 0.03
Shareholders Equity (RM mil) 719.7 749.3 809.8 834.4 864.9 882.0 939.5
No of Shares (millions) 935.4 935.4 967.2 968.8 974.5 978.2 983.5
Shareholders Equity Per Share 0.77 0.80 0.84 0.86 0.89 0.90 0.96
Share Price - Close (RM) 1.26 1.36 1.7 1.79 2.04 2.37 2.40
Op Profit + Div Received (RM mil) 61.1 145.6 212.3 254.8 234.8 258.6 278.7
Capital Employed (RM mil) 578.2 555.5 575.0 612.3 613.1 636.7 617.0
Return on Capital Employed (%) 10.7% 25.2% 38.2% 44.3% 38.3% 42.2% 43.8%
Return on Equity (%) 5.6% 13.2% 18.2% 20.0% 17.7% 18.7% 19.1%
Production Volume
Fresh Fruit Bunches (tonnes) 260,512 276,634 265,037 286,987 329,597 310,212 330,021
Crude Palm Oil (tonnes) 247,659 280,493 311,752 330,968 317,607 314,738 342,720
Palm Kernel (tonnes) 60,119 69,073 75,373 81,763 77,197 75,534 81,239

SHARE TRADING SUMMARY CY2025

Share Price - High RM2.50
Share Price - Low RM2.12
Share Price - Close @ 31/12/25 RM2.35
Average Daily Volume 114,973 shares
Volume - High 707,600 shares
Volume - Low 0 shares
Total Annual Volume 28,053,500 shares
Annual Turnover
(% of Share Capital)
2.9%

TOP SHAREHOLDERS

As at 24 April 2026 Direct Indirect
Sharikat Kim Loong Sendirian Berhad 63.42% 0
Gooi Seong Lim 0.66% 64.23
Gooi Seong Heen 0.61% 63.81
Gooi Seong Chneh 0.56% 63.81
Gooi Seong Gum 0.12% 63.82
Wilgain Prosperity Sdn Bhd 0 63.42
Eternal Profits Worldwide Sdn Bhd 0 63.42
Ascendant Capital Sdn Bhd 0 63.42
SG Gooi Holdings Sdn Bhd 0 63.42
Total 65.4%
Top 30 Shareholders 77.38%

Oil Palm Estates

Palm Oil Mills

FINANCIALS

Year Ending (RM) 2020
31-Jan
2021
31-Jan
2022
31-Jan
2023
31-Jan
2024
31-Jan
2025
31-Jan
2026
31-Jan
Revenue 679,625,433 971,677,438 1,702,716,063 1,908,343,013 1,526,132,895 1,684,021,393 1,823,857,696
Cost of Sales (585,625,050) (796,887,132) (1,435,535,617) (1,608,886,668) (1,250,294,997) (1,385,608,613) (1,499,089,487)
Gross Profit 94,000,383 174,790,306 267,180,446 299,456,345 275,837,898 298,412,780 324,768,209
Other Operating Income 16,534,496 19,405,836 12,921,276 13,529,258 17,581,691 25,090,094 25,467,829
Distribution Expenses (18,339,887) (18,312,756) (21,194,392) (21,567,638) (22,181,514) (24,895,432) (26,896,069)
Administrative Expenses (25,478,074) (26,525,146) (30,379,679) (31,500,684) (32,455,088) (37,766,758) (41,960,204)
Other Operating Expenses (5,618,998) (3,798,294) (16,257,835) (5,071,868) (4,009,768) (2,199,810) (2,698,686)
Operating Profit/(Loss) 61,097,920 145,559,946 212,269,816 254,845,413 234,773,219 258,640,874 278,681,079
Finance Costs (709,028) (1,008,453) (1,939,026) (2,402,269) (2,489,648) (3,312,402) (7,311,880)
Profit Before Tax 60,388,892 144,551,493 210,330,790 252,443,144 232,283,571 255,328,472 271,369,199
Tax Expense (15,399,566) (33,930,220) (43,288,950) (52,758,757) (54,424,780) (60,745,689) (65,215,233)
Profit After Tax 44,989,326 110,621,273 167,041,840 199,684,387 177,858,791 194,582,783 206,153,966
Non-Controlling Interests (3,927,894) (15,729,924) (30,462,006) (37,427,351) (30,107,742) (33,160,830) (37,652,414)
Net Profit attributable to Owners 41,061,432 94,891,349 136,579,834 162,257,036 147,751,049 161,421,953 168,501,552
Basic EPS (Sen) 4.4 10.16 14.42 16.79 15.25 16.55 17.16
Diluted EPS (Sen) 4.4 10.15 14.4 16.75 15.22 16.52 17.15

KMLOONG Balance

Year Ending (RM) 2020
31-Jan
2021
31-Jan
2022
31-Jan
2023
31-Jan
2024
31-Jan
2025
31-Jan
2026
31-Jan
Net Cash from Operating Activities 103,123,247 157,878,662 225,745,736 213,010,795 234,887,622 248,184,643 253,658,693
Acquisition of Property Plant & Equipment (65,572,573) (55,091,131) (99,522,313) (63,815,866) (44,458,005) (54,593,867) (41,256,925)
Disposal of Property Plant, Equipment & Right-of-Use 961,510 18,958 742,573 803,192 1,826,321 3,524,582 96,212
Free Cash Flow 38,512,184 102,806,489 126,965,996 149,998,121 192,255,938 197,115,358 212,497,980
Dividends paid to Non-Controlling Interest (8,855,000) (8,140,000) (14,956,000) (27,736,000) (34,150,000) (28,088,000) (28,298,000)
Free Cash Flow attributable to Owners 29,657,184 94,666,489 112,009,996 122,262,121 158,105,938 169,027,358 184,199,980

Cash Earnings & Utilization Metrics

YE 31-Jan 2020 2021 2022 2023 2024 2025 2026
EBIT (RM) 61,097,920 145,559,946 212,269,816 254,845,413 234,773,219 258,640,874 278,681,079
Net Cash from Operating Activities (RM) 103,123,247 157,878,662 225,745,736 213,010,795 234,887,622 248,184,643 253,658,693
Free Cash Flow attributable to Owners (RM) 29,657,184 94,666,489 112,009,996 122,262,121 158,105,938 169,027,358 184,199,980
Net Investments (RM) (14,697,609) (10,700,592) 4,690,738 (60,956,810) (73,368,961) (35,913,419) (55,255,311)
Dividends Paid to Owners (RM) (56,016,440) (37,344,293) (104,838,654) (135,312,099) (145,328,363) (175,549,529) (98,246,465)
Residual Cash Flow (RM) (41,056,865) 46,621,604 11,862,080 (74,006,788) (60,591,386) (42,435,590) 30,698,204
Net Cash (RM) 228,860,839 288,664,094 344,423,058 341,431,790 367,342,232 363,749,772 453,504,605
Free Cash Flow per share (RM) 0.032 0.101 0.116 0.126 0.162 0.173 0.187
Net Capex (RM) 64,611,063 55,072,173 98,779,740 63,012,674 42,631,684 51,069,285 41,160,713
Net Capex / EBIT (%) 105.8% 37.8% 46.5% 24.7% 18.2% 19.7% 14.8%
Net Capex / Operating Cash Flow (%) 62.7% 34.9% 43.8% 29.6% 18.1% 20.6% 16.2%

STAKEHOLDERS

Directors & CEO Remuneration

kmloong-dir-remun2026
2026
Group Total: RM12.15 million
Executive & CEO: RM11.76 million
Non-Executive: RM0.39 million

CEO: RM3.06 million
kmloong-dir-remun2025
2025
Group Total: RM10.72 million
Executive & CEO: RM10.35 million
Non-Executive: RM0.37 million

CEO: RM2.91 million
kmloong-dir-remun2024
2024
Group Total: RM9.72 million
Executive & CEO: RM9.43 million
Non-Executive: RM0.29 million

CEO: RM2.64 million
kmloong-dir-remun2023
2023
Group Total: RM9.93 million
Executive & CEO: RM9.58 million
Non-Executive: RM0.35 million

CEO: RM4.0 million
kmloong-dir-remun2022
2022
Group Total: RM9.39 million
Executive & CEO: RM9.10 million
Non-Executive: RM0.29 million

CEO: RM2.49 million
kmloong-dir-remun2021
2021
Group Total: RM8.83 million
Executive & CEO: RM8.53 million
Non-Executive: RM0.30 million

CEO: RM2.34 million

Directors & CEO Interests

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