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I am happy to unveil our first
stand-alone Sustainability Report
as it marks an important step in
our sustainability journey. The
report which has been prepared
in accordance with the Global
Reporting Initiative (GRI) Core
Option and Bursa Malaysia’s
requirements on sustainability
reporting to ensure it focuses on
our material issues, builds on prior
annual reporting and will give our
stakeholders greater information
about the Group’s sustainability
practices and performance.
Board Appointments
As foreshadowed in last year’s
Annual Report, Board succession
and planning has been a key focus
area for the Board. During the year,
the Nomination and Remuneration
Committee led the process which
resulted in the appointment of
Encik Rosely bin Kusip and Datuk
Bazlan bin Osman as Independent
Non-Executive Directors, to
strengthen further what is already
a very capable and experienced
Board. FimaCorp will, as a result,
continue to have a Board with a
substantial majority of independent
directors, who will ensure the
Company maintains its strong
governance structure.
Further information is set out in the
Profile and Corporate Governance
sections of this Annual Report.
Prospects
We expect the manufacturing
division’s performance to remain
fairly subdued as we project that
there could be further downward
pressure on volumes. We also
expect this current financial year
to remain challenging for our
plantation division on the back
of the prevailing low commodity
prices arising from inter alia the
negative sentiments on palm oil
from EU and pressures on the
US-China trade dispute. Additional
development expenditure on the
greenfield assets are also expected
to impact the division’s earnings.
As foreshadowed in last
year’s Annual Report,
Board succession and
planning
has been a key
focus area for the Board.
Fima CORPORATION Berhad
(21185-P)
Annual Report 2019
28