First Resources' net profit soars 293.1% YoY to US$128.0m

Stronger palm oil prices gave the company a boost.

First Resources' net profit soared 293.1% YoY to US$128.0m ($175.3m) in H122.

The company said its profit increase was due to higher sales of US$295.1m (+29.6% YoY) ($404.1m) , boosted by stronger palm oil prices.

With higher profit, the company declared an interim dividend of 2.50 Singapore cents per share.

“With palm oil’s attractive relative pricing against other competing edible oils encouraging replenishment of inventories by importing countries, we believe palm oil consumption demand should remain supportive,” Ciliandra Fangiono, CEO of First Resources, said.

1 SGD = 0.73 USD

Follow the link for more news on

First Resources

Net property income

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia