DailySpaceKuala Lumpur Kepong Berhad
2445 · Main Market主板 · annual reports 2023 to 2025, 3170 entries read2023 至 2025 年报，共读出 3170 条
The company这家公司
Kuala Lumpur Kepong Berhad grows oil palm and rubber and develops property. Out of 295,241 hectares of planted area in 2023, about 97% was planted with oil palm and 3% with rubber. Geographically, 57% of the oil palm planted area was in Indonesia, 41% in Malaysia and about 2% in Liberia, while rubber was planted only in Peninsular Malaysia.Kuala Lumpur Kepong Berhad 种植油棕与橡胶，并从事房地产开发。在 2023 年 295,241 公顷的总种植面积中，约 97% 种植油棕，3% 种植橡胶。按地理分布，油棕种植面积有 57% 位于印尼、41% 位于马来西亚、约 2% 位于利比里亚，而橡胶只种植在马来西亚半岛。
Source: annual report 2023, page 32; annual report 2024, page 7.出处：2023 年年报第 32 页；2024 年年报第 7 页。
In 2025, manufacturing brought revenue of RM20.87 billion, upstream plantation brought RM3.677 Billion, and property development recorded RM182.9 million compared to RM229.4 million in 2024. The 2024 report lists no major customer with 10% or more of group revenue.2025 年，制造业务带来 RM20.87 billion 营业额，上游种植业务带来 RM3.677 Billion，房地产开发录得 RM182.9 million（2024 年为 RM229.4 million）。2024 年报显示，没有任何单一客户占集团营业额的 10% 或以上。
Source: annual report 2024, page 236; annual report 2025, pages 25, 59.出处：2024 年年报第 236 页；2025 年年报第 25、59 页。
The company is a subsidiary of Batu Kawan Berhad, which held 518,953,774 shares (47.33%) in the 2024 report. Citigroup Nominees (Tempatan) Sdn Bhd held 92,114,415 shares (8.40%) for the Employees Provident Fund Board and 47,190,015 shares (4.30%) under its Islamic account. Maybank Nominees (Tempatan) Sdn Bhd held 38,600,000 shares (3.52%) in a pledged securities account for Lembaga Kemajuan Tanah Persekutuan.该公司是 Batu Kawan Berhad 的子公司，2024 年报显示后者持有 518,953,774 股（47.33%）。Citigroup Nominees (Tempatan) Sdn Bhd 为雇员公积金局持有 92,114,415 股（8.40%），并通过其伊斯兰账户持有 47,190,015 股（4.30%）。Maybank Nominees (Tempatan) Sdn Bhd 在抵押证券账户中为联邦土地发展局（FELDA）持有 38,600,000 股（3.52%）。
Source: annual report 2024, pages 164, 267.出处：2024 年年报第 164、267 页。
Executive Chairman Tan Sri Dato' Seri Lee Oi Hian is the brother of director Dato' Lee Hau Hian and the father of Group Chief Operating Officer Lee Jia Zhang and of Lee Wen Ling.执行主席 Tan Sri Dato' Seri Lee Oi Hian 是董事 Dato' Lee Hau Hian 的兄弟，也是集团首席营运员 Lee Jia Zhang 及 Lee Wen Ling 的父亲。
Source: annual report 2023, pages 14, 17, 19; annual report 2024, page 14.出处：2023 年年报第 14、17、19 页；2024 年年报第 14 页。
Chairman R. M. Alias retired on 22 February 2024, and Tan Sri Dato' Seri Lee Oi Hian was redesignated as Executive Chairman on the same date. Tunku Alizakri bin Raja Muhammad Alias joined the board on 1 March 2025, and Tan Ting Min was appointed on 1 December 2025.主席 R. M. Alias 于 2024 年 2 月 22 日卸任，Tan Sri Dato' Seri Lee Oi Hian 同日调任为执行主席。Tunku Alizakri bin Raja Muhammad Alias 于 2025 年 3 月 1 日加入董事会，Tan Ting Min 于 2025 年 12 月 1 日获委任为董事。
Source: annual report 2024, pages 14, 19, 125; annual report 2025, pages 115, 139.出处：2024 年年报第 14、19、125 页；2025 年年报第 115、139 页。
Oil palm planted area by country, 20232023 年各国油棕种植面积占比
Source: annual report 2023, page 32.出处：2023 年年报第 32 页。
External revenue by segment, 20252025 年各部门外部营业额
Source: annual report 2025, page 224.出处：2025 年年报第 224 页。
Major events大事记
Source: annual report 2023, page 204.出处：2023 年年报第 204 页。
Source: annual report 2023, page 44.出处：2023 年年报第 44 页。
Source: annual report 2024, pages 125, 133.出处：2024 年年报第 125、133 页。
Source: annual report 2024, page 229.出处：2024 年年报第 229 页。
Source: annual report 2024, page 229.出处：2024 年年报第 229 页。
Source: annual report 2025, page 48.出处：2025 年年报第 48 页。
Source: annual report 2025, page 204.出处：2025 年年报第 204 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Total assets, total borrowings and equity总资产、总借款与总权益
20232023 年
In FY2023, operating activities generated RM1,958.3 million in net cash. Capital spending took RM1,554.5 million for purchase of property, plant and equipment. The group completed the acquisition of 90% of Temix Oleo S.p.A. for RM143.3 million (net cash outflow of RM108.9 million), and acquired minority interests of 1% in PT Perindustrian Sawit Synergi for RM23.9 million, 5% in PT Parit Sembada for RM7.6 million, and 5% in PT Putra Bongan Jaya for RM8.0 million. In financing, the group drew RM238.2 million of term loans, repaid RM530.4 million of term loans, and drew a net RM773.8 million of short term borrowings. Dividends paid to shareholders took RM1,078.4 million, and dividends paid to non-controlling interests took RM85.2 million, with net cash used in financing activities of RM713.1 million. Total borrowings ended the year at RM9,894.0 million.2023 财年，营运活动产生现金净额 RM1,958.3 million。购买物业、厂房及设备资本支出 RM1,554.5 million。集团以 RM143.3 million（现金净流出 RM108.9 million）完成收购 Temix Oleo S.p.A. 90% 股权，并分别以 RM23.9 million、RM7.6 million 与 RM8.0 million 收购 PT Perindustrian Sawit Synergi 1%、PT Parit Sembada 5% 及 PT Putra Bongan Jaya 5% 的少数股东权益。融资方面，提取定期贷款 RM238.2 million，偿还定期贷款 RM530.4 million，净提取短期借款 RM773.8 million。向股东支付股息 RM1,078.4 million，向非控股权益支付股息 RM85.2 million，融资活动所用现金净额为 RM713.1 million。总借款年底达 RM9,894.0 million。
Source: annual report 2023, pages 143, 204.出处：2023 年年报第 143、204 页。
20242024 年
In FY2024, operating activities generated RM1,684.6 million in net cash. Capital spending on property, plant and equipment was RM1,641.4 million. The group acquired 92% of PT Satu Sembilan Delapan for RM262.7 million, 90% of PT Tekukur Indah for RM12.4 million, the remaining 40% of Aura Muhibah Sdn Bhd for RM386.2 million, 5% of PT ADEI Plantation & Industry for RM45.0 million, and completed the compulsory acquisition of the remaining 4.57% of KSN for RM137.6 million, with total purchases of shares from non-controlling interests taking RM570.0 million. In financing, term loan drawdowns were RM1,370.9 million against repayments of RM505.8 million, and short term borrowings rose by net drawdowns of RM645.8 million. Cash dividends to company shareholders were RM296.3 million, as RM354,332,000 of the final dividend was satisfied by issuing 17,969,081 shares under the dividend reinvestment plan; dividends to non-controlling interests were RM126.4 million. Total borrowings reached RM11,225.3 million.2024 财年，营运活动产生现金净额 RM1,684.6 million。物业、厂房及设备资本支出为 RM1,641.4 million。集团以 RM262.7 million 收购 PT Satu Sembilan Delapan 92% 股权，以 RM12.4 million 收购 PT Tekukur Indah 90% 股权，以 RM386.2 million 收购 Aura Muhibah Sdn Bhd 剩余 40% 股权，以 RM45.0 million 收购 PT ADEI Plantation & Industry 5% 股权，并以 RM137.6 million 完成对 KSN 剩余 4.57% 股权的强制收购，从非控股权益购买股份总额达 RM570.0 million。融资方面，提取定期贷款 RM1,370.9 million，偿还 RM505.8 million，短期借款净提取 RM645.8 million。向公司股东支付现金股息 RM296.3 million，终期股息中有 RM354,332,000 是通过股息再投资计划发行 17,969,081 股新股支付；向非控股权益支付股息 RM126.4 million。总借款达到 RM11,225.3 million。
Source: annual report 2024, pages 25, 146, 147, 159, 229.出处：2024 年年报第 25、146、147、159、229 页。
20252025 年
In FY2025, net cash generated from operating activities was RM1,291.0 million. Capital spending included RM1,014.4 million for purchases of property, plant and equipment, RM64.5 million for development of an investment property, and RM80.0 million on land held for property development. The group acquired Kemas Hijau Sdn Bhd for RM235,000. In financing, the group redeemed RM1.1 billion of Sukuk Ijarah Islamic medium term notes and issued RM650.0 million of new notes, drew RM79.2 million of term loans while repaying RM655.4 million, and drew a net RM1,383.9 million of short term borrowings. Cash dividends paid to company shareholders were RM325.8 million, as RM335,479,000 of the final dividend was satisfied by issuing 17,214,040 shares under the dividend reinvestment plan; dividends to non-controlling interests were RM183.7 million. Total borrowings ended at RM11,694.8 million.2025 财年，营运活动产生现金净额 RM1,291.0 million。资本支出包括购买物业、厂房及设备 RM1,014.4 million、投资产业开发 RM64.5 million 以及持作开发土地支出 RM80.0 million。集团以 RM235,000 收购 Kemas Hijau Sdn Bhd。融资方面，集团赎回 RM1.1 billion Sukuk Ijarah 伊斯兰中期票据并新发行 RM650.0 million 票据，提取定期贷款 RM79.2 million 并偿还 RM655.4 million，净提取短期借款 RM1,383.9 million。向公司股东支付现金股息 RM325.8 million，终期股息中有 RM335,479,000 是通过股息再投资计划发行 17,214,040 股新股支付；向非控股权益支付股息 RM183.7 million。总借款年底达 RM11,694.8 million。
Source: annual report 2025, pages 138, 150, 204, 218.出处：2025 年年报第 138、150、204、218 页。
Across the three years三年合看
Total borrowings rose from RM9,894.0 million in 2023 to RM11,225.3 million in 2024 and RM11,694.8 million in 2025. The group's investment in associate Synthomer plc had successive charges: RM199.8 million share of goodwill impairment in 2023, RM315.7 million in 2024 (including an impairment of RM180.0 million and share of equity loss of RM135.7 million), and RM187.5 million in 2025 (share of losses of RM127.5 million and impairment of RM60.0 million). Total dividends of 60 sen per share (interim 20 sen and final 40 sen) were declared or recommended in each of the three financial years.总借款由 2023 年的 RM9,894.0 million 增加至 2024 年的 RM11,225.3 million 及 2025 年的 RM11,694.8 million。集团对联营公司 Synthomer plc 的投资接连计入减值与亏损：2023 年分担商誉减值 RM199.8 million，2024 年计入 RM315.7 million（包括减值 RM180.0 million 及分担权益亏损 RM135.7 million），2025 年计入 RM187.5 million（分担亏损 RM127.5 million 及减值 RM60.0 million）。三个财政年度均宣派或建议派发每股 60 仙股息（中期 20 仙及终期 40 仙）。
Source: annual report 2023, page 21; annual report 2024, pages 22, 24; annual report 2025, pages 22, 24, 27.出处：2023 年年报第 21 页；2024 年年报第 22、24 页；2025 年年报第 22、24、27 页。
Still to be spent尚未支出的承诺
Capital expenditure approved and contracted was RM1,015.9 million at end 2023, RM592.1 million at end 2024, and RM298.6 million at end 2025. Capital expenditure approved but not contracted was RM1,557.6 million at end 2023 and RM906.0 million at end 2024.已批准并签约的资本开支在 2023 年底为 RM1,015.9 million，2024 年底为 RM592.1 million，2025 年底为 RM298.6 million。已批准但未签约的资本开支在 2023 年底为 RM1,557.6 million，2024 年底为 RM906.0 million。
Source: annual report 2023, page 197; annual report 2024, page 219; annual report 2025, page 209.出处：2023 年年报第 197 页；2024 年年报第 219 页；2025 年年报第 209 页。
Four years of figures四年数字
Group figures, in RM thousand (×1,000), as printed in the statements.集团数字，单位千令吉（×1,000），照财务报表所印。
| Group集团 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| RM'000千令吉 | RM'000千令吉 | RM'000千令吉 | RM'000千令吉 | |
| Revenue营业额 | 27,149,474 | 23,647,586 | 22,273,698 | 25,019,545 |
| Profit before taxation税前盈利 | 3,219,478 | 1,152,227 | 1,183,482 | 1,513,646 |
| Profit for the year年度盈利 | 2,438,357 | 990,697 | 738,125 | 973,564 |
| Net cash generated from operating activities营运活动所得现金净额 | 2,672,742 | 1,958,314 | 1,684,634 | 1,290,958 |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (1,252,203) | (1,554,525) | (1,641,405) | (1,014,427) |
| Net cash used in investing activities投资活动所用现金净额 | (2,461,844) | (1,580,969) | (1,986,081) | (1,022,970) |
| Net cash generated from/(used in) financing activities融资活动所得/（所用）现金净额 | (738,423) | (713,083) | 519,381 | (183,340) |
| Dividends paid to shareholders of the Company已付公司股东股息 | (1,078,156) | (1,078,436) | (296,323) | (325,831) |
| Total assets总资产 | 30,238,525 | 30,126,391 | 30,529,757 | 31,737,584 |
| Total borrowings总借款 | 9,382,288 | 9,893,975 | 11,225,251 | 11,694,787 |
| Cash and cash equivalents现金与现金等价物 | 2,785,198 | 2,382,122 | 2,383,532 | 2,480,630 |
| Total equity总权益 | 16,051,822 | 16,143,759 | 15,006,932 | 15,486,691 |
On a computer, hover over a figure for the report and page it is printed on.在电脑上把鼠标移到数字上，可看到它印在哪份年报的哪一页。
Said and done说过的与做到的
| What the reports said年报说要做的 | What later reports show之后年报显示的 | Status状态 |
|---|---|---|
| Completion of the PT Perindustrian Sawit Synergi refinery and kernel crushing plant in East Kalimantan expected in second quarter of FY2024东加里曼丹 PT Perindustrian Sawit Synergi 炼油与压仁厂预计于 2024 财年第二季度完工 | The project completion date was moved to the second quarter of FY2025, and the complex was commissioned in February 2025.完工日期后移至 2025 财年第二季度，该综合设施最终于 2025 年 2 月投产。 Source: annual report 2023, page 48; annual report 2024, page 48; annual report 2025, page 48.出处：2023 年年报第 48 页；2024 年年报第 48 页；2025 年年报第 48 页。 | Completed later than expected迟于预期完工 |
| Invest over RM90 million in a three-year project to improve worker housing across operations in Malaysia and Indonesia在马来西亚和印尼的业务中投资超过 RM90 million 开展为期三年的工人住房改善项目 | The group invested RM34.8 million to build and upgrade 800 units in FY2024, and completed the three-year initiative for Peninsular Malaysia in FY2025 with RM65.5 million invested across approximately 1,500 units, while extending improvements in Sabah.集团于 2024 财年投资 RM34.8 million 兴建与升级 800 套住房，并在 2025 财年完成西马半岛的三年期计划，投资 RM65.5 million 升级和兴建约 1,500 套住房，同时继续推进沙巴的改善工程。 Source: annual report 2023, page 43; annual report 2024, page 40; annual report 2025, page 41.出处：2023 年年报第 43 页；2024 年年报第 40 页；2025 年年报第 41 页。 | Partly completed; extended部分完成；已延长 |
| Provide product carbon footprint data for 50 products by 2025在 2025 年前为 50 种产品提供产品碳足迹数据 | The group verified 8 key products in FY2024 and completed calculations for 171 product groups in FY2025.集团在 2024 财年核实了 8 种关键产品，并在 2025 财年完成了 171 个产品组的碳足迹计算。 Source: annual report 2023, page 54; annual report 2024, page 97; annual report 2025, pages 26, 72.出处：2023 年年报第 54 页；2024 年年报第 97 页；2025 年年报第 26、72 页。 | Target exceeded超出目标 |
| Complete two drive-thrus by January 2025 and the main mall by first quarter of FY2026 at Bandar Seri Coalfields在 Bandar Seri Coalfields 于 2025 年 1 月完工两家得来速，并在 2026 财年第一季度前完成主商场 | Completion of the main mall was shifted to the second quarter of FY2026 in the 2024 report, and the 2025 report expected it to welcome visitors in the third quarter of FY2026, with construction 90% complete.主商场完工时间在 2024 年年报中推迟至 2026 财年第二季度，2025 年年报预计商场于 2026 财年第三季度迎客，工程完成 90%。 Source: annual report 2023, page 50; annual report 2024, page 51; annual report 2025, pages 23, 50.出处：2023 年年报第 50 页；2024 年年报第 51 页；2025 年年报第 23、50 页。 | Delayed有所延误 |
| Complete RSPO certification for assets in Malaysia by end 2024, Indonesia by third quarter 2025, and Liberia by end 2025在 2024 年底前完成马来西亚资产的 RSPO 认证，2025 年第三季度前完成印尼资产认证，2025 年底前完成利比里亚资产认证 | All estates and palm oil mills in Malaysia and Liberia reached 100% RSPO certification in 2025, while the Indonesian target was extended to 2026.马来西亚和利比里亚的所有种植园和棕油厂在 2025 年达到 100% RSPO 认证，印尼资产的认证目标则推迟至 2026 年。 Source: annual report 2023, page 74; annual report 2024, page 73; annual report 2025, pages 23, 69.出处：2023 年年报第 74 页；2024 年年报第 73 页；2025 年年报第 23、69 页。 | Mostly completed; Indonesia delayed大致完成；印尼有所延误 |
What the reports leave open年报留下待看的事
- The financial turnaround of the manufacturing division, which recorded a pre-tax loss of RM173.6 million in FY2025 compared to a pre-tax profit of RM95.3 million in FY2024, with pre-tax losses in the refinery and non-oleochemical sub-divisions.制造部门的财务扭亏情况；该部门在 2025 财年录得税前亏损 RM173.6 million（2024 财年为税前盈利 RM95.3 million），其中炼油及非油脂化学品分部录得税前亏损。
Source: annual report 2025, pages 22, 25.出处：2025 年年报第 22、25 页。
- Performance of associate Synthomer plc, which incurred non-cash losses of RM187.5 million in FY2025 (comprising share of losses of RM127.5 million and an impairment of RM60.0 million), after charges of RM315.7 million in FY2024.联营公司 Synthomer plc 的表现；继 2024 财年计入 RM315.7 million 之后，2025 财年再产生 RM187.5 million 非现金亏损（包括分担亏损 RM127.5 million 及减值 RM60.0 million）。
Source: annual report 2024, page 24; annual report 2025, pages 22, 24.出处：2024 年年报第 24 页；2025 年年报第 22、24 页。
- Execution of the 1,500-acre KLK TechPark industrial park in Tanjong Malim, where 150 acres were sold to BYD for an EV assembly plant with Phase 1 infrastructure works targeted for completion by end-2026.位于丹绒马林 1,500 英亩的 KLK TechPark 工业园区的推进情况；其中 150 英亩已售予比亚迪建设电动汽车装配厂，第一期基础设施工程计划于 2026 年底完工。
Source: annual report 2025, pages 23, 24, 51.出处：2025 年年报第 23、24、51 页。
- Compliance with the European Union Deforestation Regulation, whose application was postponed to 30 December 2026, with medium-term investments in readiness expected to exceed RM15 million.欧盟森林砍伐条例的合规进展；该条例实施延期至 2026 年 12 月 30 日，预计中期合规准备投资将略超 RM15 million。
Source: annual report 2025, pages 26, 68, 130.出处：2025 年年报第 26、68、130 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-30.内容为公司年报所印的事实，并注明页码；不评级，不构成投资建议。生成日期 2026-10-30。