KUMPULAN FIMA ANNUAL REPORT 2017 Background Image
Previous Page  32 / 232 Next Page
Information
Show Menu
Previous Page 32 / 232 Next Page
Page Background

Kumpulan Fima Berhad

(11817-V)

30

CHAIRMAN’S

STATEMENT

OUTLOOK

Bank Negara Malaysia expects Malaysia

to register gross domestic product

between 4.3% and 4.8% in 2017, on

the back of domestic demand growth

underpinned by private sector activity.

The country’s exports and imports are

also expected to strengthen on projected

improvement in global economic growth,

higher commodity prices and sustained

domestic demand. On a macro level, the

IMF is forecasting global growth to pick

up from 3.1% in 2016 to 3.5% and 3.6%

in 2017 and 2018 respectively. Global

trade activity is expected to improve on

the back of policy stimulus and a gradual

normalisation of large economies such as

Brazil and Russia. However, uncertainties

surrounding US policy direction under

the new administration, knock-on effects

of Brexit and calls for protectionism may

pose downside risks to global growth

prospects.

Economic recovery in Malaysia has to-

date been relatively muted, with growth

driven predominantly by commodity price

increases and restricted to only a few

sectors of the economy. We anticipate

that the year ahead is likely to continue

to present a demanding operating

environment. Add to that, factors such

as extreme weather conditions and

currency volatility are all likely to affect

our businesses in the near term.

For all these reasons, we will remain

prudent in our approach and will focus

on building the resilience and agility of

our portfolios. The Board is confident

that the Group’s robust balance sheet

and diverse businesses will enable it to

withstand the economic headwinds and

cyclical nature of certain industries whilst

at the same time providing us with the

flexibility to pursue future opportunities.

APPRECIATION AND

ACKNOWLEDGEMENT

I wish to express my deepest gratitude

to my fellow 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 hard work and dedication. Last but

not least, on behalf of the Board, I would

like to convey our deepest appreciation

to our customers, suppliers, business

partners and all our stakeholders for

continuing to partner with us and you, our

valued shareholders for your continuous

support and confidence.

TAN SRI DATO’ IR. MUHAMMAD RADZI

BIN HAJI MANSOR

Chairman