26 / 244
Chairman’s
Statement
In the context of the tough
economic environment,
I believe the position
taken by the Board for the
FYE2020 was appropriate
and responsible.
Dear Shareholders,
For FYE2020, Group revenue increased
6.7% to RM500.90 million (FYE2019:
RM469.47 million. However, profit
before tax (“PBT”) declined 54.9% to
RM51.83 million compared to RM114.89
million last year. The reduction in PBT
was due to impairment losses recorded
on property, plant and equipment
(“PPE”) and right-of-use (“ROU”) assets
in PT Nunukan Jaya Lestari (“PTNJL”)
amounting to RM17.79 million against
write back of impairment losses
amounting RM23.63 million recorded
in FYE2019. Without these impairment
losses, the Group’s PBT would be
RM69.62 million, 23.7% lower than last
year.
Earnings per share and net assets per
share stood at 10.40 sen and RM2.84,
respectively, from 21.25 sen and RM2.85
respectively, the year before.
Net cash generated from operating
activities for the year was RM82.20
million (FYE2019: RM52.78 million),
and we ended the year with a strong
spread of the Covid-19 pandemic,
raising anxiety that the world economy
could tip into an outright recession.
In the context of the tough economic
environment, I believe the position
taken by the Board for the FYE2020
was appropriate and responsible. Our
strategy was simply to focus on what
we can control, to ensure that all of
our investments and acquisitions are
operating optimally, to generate healthy
cash ows and sustaining the strength of
our balance sheet.
Revenue
FYE2019 FYE2020
RM
Million
RM
Million
Manufacturing 134.78
134.00
Plantation
118.34
123.38
Bulking
81.15
106.66
Food
130.32
131.69
Others
4.88
5.17
Group Results
469.47
500.90
Dato’ Idris bin Kechot
balance sheet and cash of RM295.92
million (inclusive of short-term cash
investments). Our capital expenditures
for FYE2020 totalled RM32.60 million
(FYE2019: RM40.47 million).
The financial year ended 31 March
2020 (“FYE2020”) saw many profound,
unsettling events. The domestic
economy continues to feel the impacts
of volatile commodity prices, subdued
investor and consumer sentiments on
the back of continuing US-China trade
tensions and sharper-than-expected
slowdowns in major economies. All
these are further compounded by global
Annual Report 2020
kumpulan Fima Berhad
(197201000167)(11817-V)
22