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A more detailed review of the results and
the operating performance for the year
of each of the Group’s business divisions
is presented on pages 32 to 51 of this
Annual Report.
Dividend
After having considered the Group’s
current liquidity position, future growth
requirements and the resulting cash
flow outlook, the Board had approved
single-tier interim dividend of 9.0 sen
for FYE2020 which will be paid on 14
September 2020.
Governance
With new regulations coming into
force with which we must comply, and
an ever-more challenging economic
environment within which to operate,
my Board colleagues and I will continue
to ensure we provide the governance
framework and rigour to all that we do.
During the year, we had strengthened
certain governance processes following
a comprehensive review of the Group’s
integrity infrastructure. The exercise
not only entailed a review of the Board
charter and the Committees’ terms of
reference, but also all Group policies and
anti-bribery framework. This is to ensure
that our stewardship practices remain
relevant and effective to the ongoing
performance of the Group.
In November 2019, Encik Nazaruddin
bin Mohd Hadri, retired from his
position as Group Chief Operating
Officer of Fima Corporation Berhad. He
has been invaluable to the Group for
the last 17 years and his contributions
will no doubt leave a lasting impact. We
wish him all the best.
Sustainability
Sustainability continues to be a focus
for the Group. Given the diversified
nature of the Group, our businesses
have varying focus areas within their
industries, which are monitored and
addressed at the individual business
levels as appropriate.
The health and well-being of our
employees and communities remain our
first priority. In response to the Covid-19
pandemic, we have implemented a
number of revised business processes
to protect our employees with a
strong focus on protective equipment
including masks, gloves, sanitizers and
implementing additional controls to
ensure that all interactions are done in a
safe manner.
The Group donated 68,000 face masks
to various hospitals and government
agencies which are then distributed
to their frontline and enforcement
personnel. On behalf of the Board, I
wish to recognise and commend the
relevant authorities for the aggressive and
proactive efforts undertaken to flatten the
curve and contain the spread of Covid-19
in the country. In the same way, we salute
the many selfless frontliners and essential
workers that are helping our country
through this unprecedented time.
PTNJL in Indonesia carried out cleaning
and disinfection at its workers housing
complex and other public areas such as
halls, mosques and clinics. Meanwhile
the Group management team had
rallied together by combining their time
and resources to mobilise care packages
comprising of essential food items to
our non-executive employees (both
local and foreign) and to over 2,000 poor
families nationwide. I am heartened by
the thoughtful acts shown by our team
members. It is more important than ever
for us to continue to support our fellow
colleagues and local communities during
this unprecedented time of need.
We have also continued our efforts
to reduce our water and energy
consumption and accelerate renewable
energy installations. I am also happy
to report that during the year, all
our estates have achieved Malaysian
Sustainability Palm Oil accreditations
while Fima Biodiesel Sdn. Bhd. obtained
the MSPO Supply Chain Certification
Standard.
Further information on our corporate
responsibility and sustainability initiatives
together with a review of their progress
can be found in the sustainability section
of this Annual Report.
Prospects
Against the backdrop of growing
uncertainty over the duration and overall
impact of the Covid-19 outbreak, World
Bank’s GDP growth forecast for Malaysia
in 2020 has been significantly lowered
from 4.5% to -0.1% while Bank Negara
Malaysia has revised Malaysia’s GDP
projection to be between –2.0% to 0.5%
in 2020*. Premised on these forecasts,
we can expect trading conditions will
remain difficult for some time.
(*Source: Economic and Monetary Review 2019 –
April 2020, BNM, IMF and World Bank)
Annual Report 2020
kumpulan Fima Berhad
(197201000167)(11817-V)
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