BUILDING VALUE AT OUR CORE SEC 5 70 Malaysia’s growing digital economy is further bolstered by the government’s focused efforts in its 2024 budget. A strong commitment to digitalisation and enhancing the digital economy is setting Malaysia up as a key regional digital hub. This strategic shift is creating abundant opportunities for businesses, including ours, to engage in innovative practices and integrate advanced digital technologies into our core operations. By strategically tapping into these opportunities and expanding into external markets, particularly through managed services, we position ourselves well to actively participate in high-value tenders across the government and public sectors. Our initiatives, centred around offering innovative business solutions, automation, and system integration, are gaining momentum. We are also focusing on developing IP products specifically tailored for external markets, focusing on precision agriculture, industrial solutions and traceability mechanisms. In the telecommunications sector, FGV Prodata continues to collaborate with leading entities and infrastructure firms to deploy 3G, 4G and 5G technologies, highlighting our commitment to be at the forefront of technological innovation. Furthermore, we are expanding our expertise into SAP Hana advisory and consultation services, broadening our service offerings to a diverse range of clients. Overview FGV’s Travel segment, renowned for its comprehensive offerings and excellent customer service, has established a strong market presence. The segment has effectively adapted to post-pandemic travel trends, which has significantly revitalised its operations and are now garnering the benefits. In 2023, the Travel segment experienced remarkable growth, primarily driven by corporate ticketing, tours, and Hajj business. We achieved a significant milestone by securing 35 new corporate accounts, showcasing our growing reputation in corporate travel. Additionally, we successfully managed 311 Hajj pilgrims during the 1444 H season, demonstrating our capabilities in managing large-scale religious travels. This year, we have successfully modernised the Hotel Seri Costa with an additional 32 rooms, resulting in a total of 93 rooms upgraded over the past two years. Furthermore, we have enhanced two meeting facilities, reinforcing our commitment to elevating hospitality services and enhancing the overall guest experience. Felda Travel was awarded ‘The Most Active Supplier in the Travel and Logistic Category’ by Malaysian Communications And Multimedia Commission (MCMC) Outlook The overall travel industry appears to be optimistic, with the industry poised to exceed 2019’s pre-pandemic level by 2024. Malaysia, leading the way in Southeast Asia’s air travel recovery, is bracing for a robust resurgence, potentially leading to overcapacity due to intense competition among local airlines. In order to tap into the growing Muslim tourism sector, Malaysia’s Ministry of Tourism, Arts and Culture (MOTAC) is working to establish the country as the regional hub for Umrah pilgrimages. The Travel segment is setting its sights on cultivating high-value corporate clients for ticketing and tours. We are targeting leading companies such as the Petronas Group, MINDEF, Sime Darby Berhad and the MCMC. A key part of our strategy involves enhancing brand visibility and expanding market reach through a strategic partnership with a renowned hotel chain, specifically for Hotel Seri Costa. To improve our offerings in Hajj and Umrah, we are undertaking a strategic review of the logistics, hotel bookings and flight ticketing. Furthermore, we are developing a travel portal which will be an automated system designed to streamline booking processes. We plan to leverage opportunities arising from the Visit Melaka Year and Visit Malaysia Year campaigns by significantly ramping up our marketing and promotional efforts. We aim to benefit from the increased tourism interest generated by these campaigns by offering specialised packages and promotions. Our strategy also entails expanding our marketing outlets to the southern and eastern regions of Peninsular Malaysia, which will be a significant step in enhancing our footprint. This expansion aims to increase our reach and accessibility in these key areas, driving growth and enhancing our presence in the travel industry in 2024. GROUP BUSINESS REVIEW TRAVEL
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