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(11817-V) |

Annual Report




We recognise that we have a responsibility to all our

stakeholders – our employees, our investors, the

community and the environment in which we all work

and live, and so we endeavour to integrate sustainable

value into everything we do. Hence, our aim is to ensure

that sustainable and profitable growth continues, while

managing our businesses in a way that is supportive

to communities, respectful to the environment and

ensures a safe and conducive workplace.

Key highlights of the Group’s sustainability measures

and corporate responsibility initiatives undertaken

during the year under review are set out in the

Sustainability Report on pages 37 to 53 of the Annual

Report. This year, you will find a more detailed report

of our progress and priorities in FYE2016 as we strive

to fulfil our responsibilities to all our stakeholders. We

share with you our achievements thus far, and we

welcome your feedback.


In October 2015, the Board, together with the Board of

its listed subsidiary, Fima Corporation Berhad and the

Group’s management team, held a Joint Board Retreat

to take stock of our current position and discuss the

commercial strategy and strategic directions for the

Group. We made important strides at the Retreat

towards identifying priorities and developing actionable

goals for each of the Group’s key businesses; and

being able to interact with the team face-to-face over

the course of a weekend was essential to making such

progress. On a personal level, the Retreat sessions

exceeded my expectations in terms of the level of

engagement from the participants and the amount

of informative discussions and ideas that emerged. I

would like to thank everyone who attended the Retreat

for their participation and insights, as well as their

taking the time out of their schedules to join us.

Statements on corporate governance, and risk

management and internal control are covered in

separate sections in the Annual Report.


The economic environment presented significant

challenges for the Group during FYE2016 and this is

likely to persist in this current year. BNM has forecasted

that the Malaysian economy is expected to grow at a

slower pace of 4% to 4.5% in 2016 (2015:5%) due

to slower growth in all sectors. At the industry level,

factors such as extreme weather conditions, labour

shortages, soft consumer sentiments and heightened

competition will continue to pose challenges to the

Group’s businesses. Our outlook for the Group

therefore remains positive, but guarded, given these


Coincidently, 2016 marks our 20


anniversary of

being publicly listed on Bursa Malaysia. During these

20 years, we have been through down cycles and

have emerged as a stronger, agile company. These

times call for agile leadership and organization but

they also require stability and strength. The priorities

for the Group in this current year are to fully realize

the potential of acquisitions made in recent years and

deepen our involvement in focus areas while at the

same time evaluate further growth opportunities. It is

also important, now more than ever, for us to intensify

our efforts to enhance efficiency and exercise firm

control over costs and the use of capital in order to

remain competitive and continue to deliver long-term

returns to our shareholders.


I wish to express my deepest gratitude to our Board

members for their dedication and guidance in ensuring

the Group’s success. I also want to thank the Group’s

senior management, our employees, in all parts of

the Group, for their dedication: those who serve our

customers and who work tirelessly to improve our

services to them, those in the estates working to bring in

the harvest, those on the shop floors of our production

and manufacturing plants, the teams at our bulking

terminals, all the administrative, finance, technical,

planning and support teams that work in offices and

job sites. These are the people who draw our assets

together into a cohesive whole and we could achieve

nothing without their enthusiasm for the Group.

Last but not least, on behalf of the Board, I would like

to convey our deepest appreciation to our stakeholders

for continuing to partner with us and you, our valued

shareholders for your continuous support and