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The Plantation division recorded a loss before tax of RM20.55 million against revenue of RM123.38 million. The division was
impacted by the recognition of impairment losses on property, plant and equipment (“PPE”) and right-of-use (“ROU”) assets in the
Group’s Indonesian subsidiary, PT Nunukan Jaya Lestari (“PTNJL”) amounting to RM17.79 million. The impairment arose following
the decision made by the Mahkamah Agung allowing the judicial review application by the Menteri Agraria dan Tata Ruang/Kepala
Badan Pertanahan Nasional (“BPN”) against PTNJL.
Excluding the impairment, the division would have reported a loss before tax of RM2.76 million compared to RM9.18
million recorded last year. Factors weighing down profitability were the lower CPKO sales, higher administrative and
upkeep and cultivation, despite the higher average CPO and CPKO prices realized during the year of RM2,073 (FYE2019:
RM1,921) and RM3,242 (FYE2019: RM3,015) per MT, respectively.
5-Year Revenue &
PBT Performance
(RM Million)
20’
(20.55)
123.38
19’
32.81
118.34
31.67
18’
153.65
17’
(5.96)
146.87
16’
FYE
14.78
112.63
Revenue
PBT
FYE2020 Key Focus Areas
Improve operational cost efficiency
and effectiveness through stringent
monitoring, increased usage of ICT and
mechanisation
Improve accessibility to facilitate
mechanisation and speedier crop
evacuation
Replanting programme using high
yielding oil palm planting materials
Accreditation for all Malaysian estates
(100% certification achieved for
Malaysia Sustainable Plam Oil) (“MSPO”)
+4.3%
-162.6%
Plantation Division : Taking Root
kumpulan Fima Berhad
(197201000167)(11817-V)
Annual Report 2020
37