FGV Annual Report 2020

This Annual Integrated Report could be the last one for FGV as a public listed company. Any parting words? I wish to express my appreciation to our main shareholder FELDA for supporting the Management in the execution of the Group’s policies and strategies. To all shareholders, we thank you for remaining loyal to FGV through some difficult years. I also wish to thank the Federal and State Governments for their support and assistance, and government agencies especially MPOB for its training seminars to uplift industry standards. The execution of our Group’s strategies and plans would not have been possible without the support and commitment of our staff and workers. I wish to thank them for their dedication to ensure the FGV BP21 is on track to achieve its goals. In my two years at FGV, I have found that managing FGV is like managing the future of FELDA settlers. Moving forward, all of us look forward to playing our role to build a better socio-economic environment for FELDA settlers, a vital force of Malaysia’s oil palm industry since it began in the 1960s. Q 11 Dato’ Haris Fadzilah Hassan Group Chief Executive Officer FGV’s founding principle is to be a commercially viable business that is also socially responsible for uplifting the oil palm smallholder community. This is FGV’s differentiator that sets us apart from other palm oil players in Malaysia. So, whether FGV is a listed company or not, this fundamental principle will never change. We have always been cognizant of our socio-economic obligations role, and always bought two-thirds of our FFB from FELDA settlers and independent smallholders at fair prices. It is a win-win situation, where settlers and smallholders have a ready buyer, and we in turn, have a continuous supply chain. Our decision to expand our Integrated Farming and Consumer Products businesses will see us continuing this model, as we look forward to developing FELDA settlers as FGV Agro Farmers who can supply us with a variety of other crops, besides FFB. Overall, the year 2020 has been a difficult one for all of us, but we have utilised this period to strengthen our inner core so that FGV is well-placed to realise the multitude of possibilities that exist for food and agribusiness players. Since FELDA’s announcement to take FGV private, we may be expecting changes to the Board. On behalf of the Management, I would like to take this opportunity to thank the 2020 Board for leading and supporting the Group’s transformation agenda since 2018.