PT Malindo Feedmill, Tbk held an Annual General Meeting of Shareholders (AGMS) in Jakarta on Tuesday, 21 May 2024. After the AGMS, it continued with a public expose which was attended by online media.

In the public expose, Rudy Hartono Husin as Director of Malindo stated that overall product sales had increased significantly so that the Company’s gross profit in the first quarter of 2024 increased by IDR 323.1 billion or increased 517.4% from IDR 62.4 billion to IDR 385.5 billion. This increase in gross profit contributed to an increase in the Company’s net profit (loss) from negative IDR 143.9 billion in the first quarter of 2023 to positive IDR 143.5 billion at the end of March 2024 or an increase of IDR 287.4 billion or 199.8%.

Meanwhile, Rewin Hanrahan, Director of Malindo, conveyed several obstacles faced, such as fluctuations in the selling price of day-old chicks (DOC) and broilers to the availability and price of feed raw materials. Facing these challenges, Rewin Hanrahan explained that currently Malindo has a Poultry Slaughterhouse (RPHU) and Food Processing, so that fluctuations in broiler prices can be anticipated by processing them for export to several countries such as Japan and Singapore.

“For feed ingredients, especially corn, Malindo has also collaborated with farmers to absorb local corn, where Malindo also has corn dryers and silos in several regions in Indonesia,” said Rewin Hanrahan.

In maximizing performance in 2024, Malindo will focus on its core business and increase production efficiency by making savings and purchasing management in each production and operational line.