JAKARTA - PT FAP Agri Tbk (FAPA) received an interim dividend payment of IDR 50.35 billion from its subsidiary, PT Riau Agung Karya Abadi (RAKA). The value of dividends paid by this subsidiary is higher than the previous year.

In an information disclosure quoted on Monday (27/5), Henryzal M Panjaitan, Corporate Secretary of FAPA, said that the company received extraordinary dividend income.

RAKA, a subsidiary operating in the palm oil plantation sector, was formed in 2002. FAPA owns 95% of RAKA's issued and fully paid-up capital. Total assets were recorded at IDR 302.43 billion in the first quarter of 2024, up from total assets as of December 2023 of IDR 276.05 billion.

Data compiled shows that RAKA is recorded as having paid interim dividends of IDR 12.35 billion on February 22, 2022 and IDR 23.75 billion on December 9, 2021.

In the first quarter of 2024, FAPA collected revenue of IDR 1.198 trillion, down from the same period in 2023 of IDR 1.31 trillion, gross profit of IDR 122.81 billion, down from IDR 180.11 billion, and recorded a loss of IDR 40.66 billion. fell from the previous attributable profit of IDR 51.30 billion. (LK/LM)