04/04/2012 (Bernama) - Sawit Kinabalu Sdn Bhd has met the aspirations of the Sabah government that all state-owned corporations must be efficient and profitable by turning in a record pre-tax profit of RM300 million for the year ended Dec 31, 2011.

The state's investment arm is paying a dividend of RM51.5 million to the state government.

Its managing director, Othman Walat, said the management's effort has borne fruit in terms of better yield and coupled with the good crude palm oil (CPO) price last year, the group has for the first time made a record pre-tax profit.

"With improved accessibility and manuring programme, we are confident that the yield for this year will be even better than 2011.

"With the average CPO price predicted to be around RM3,000 per metric tonne for 2012, the group is expected to make a good profit this year despite the higher cost," he said at the ceremony to hand over a mock cheque for the dividend payment to the state government.