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Fima CORPORATION Berhad
(197401004110) (21185-P) •
Annual Report 2020
24
On 23 January 2020, we announced that
PTNJL had filed an application at the
Jakarta State Administrative Court (or
Pengadilan Tata Usaha Negara Jakarta)
for judicial review and reversal of the
Decision. The suits are still ongoing at the
time of writing and as such I am not at
liberty to provide any further commentary
on the details of them other than to assure
you that the Board is giving this matter
its fullest attention and that PTNJL will
continue to vigorously defend its position.
A more detailed review of the results and
the operating performance for the year of
each of the Group’s business divisions is
presented on pages 32 to 41 of this Annual
Report.
Dividend
After having considered the Group’s
current liquidity position, future growth
requirements and the resulting cash
flow outlook, the Board had approved
payment of 2 interim dividends of 5.0
sen and 7.5 sen per share respectively in
respect of FYE2020. The second interim
dividend of 7.5 sen per share is payable
on 7 September 2020 and would bring the
total dividend for the full year to 12.5 sen
per share (FYE2019: 12.5 sen).
Governance
With new regulations coming into force
with which we must comply, and an ever-
more challenging economic environment
within which to operate, my Board
colleagues and I will continue to ensure
we provide the governance framework and
rigour to all that we do.
During the year, we had strengthened
certain governance processes following
a comprehensive review of the Group’s
integrity infrastructure. The exercise not
only entailed a review of the board charter
and the committees’ terms of reference,
but also all Group policies and anti-
bribery framework. This is to ensure that
our stewardship practices remain relevant
and effective to the ongoing performance
of the Group.
In November 2019, Encik Nazaruddin bin
Mohd Hadri, retired from his position as
Group Chief Operating Officer. He has been
invaluable to the Group for the last 17
years and his contributions will no doubt
leave a lasting impact. We wish him all
the best.
Sustainability
Throughout the year, we continued
to deliver against our sustainability
commitments with specific focus on water
and energy consumption. Inter alia, our
estate in Terengganu has successfully
installed solar panels to generate power
supply to their workers quarters and office
complex. I am also happy to report that all
our Malaysian estates have received MSPO
accreditations during the year.
The health and well-being of our
employees and communities remain our
first priority. In response to the Covid-19
pandemic, we have implemented a
number of revised business processes
to protect our employees with a strong
focus on protective equipment including
masks, gloves, sanitizer and implementing
additional controls to ensure that all
interactions are done in a safe manner.
In addition, the Group donated 34,000 face
masks to various government agencies
which are distributed to their frontline and
enforcement personnel. On behalf of the
Board, I wish to recognise and commend
the relevant authorities for the proactive
efforts undertaken to flatten the curve
and contain the spread of Covid-19 in the
country. In the same way, we salute the
many selfless frontliners and essential
workers that are helping our country
through this unprecedented time.
PTNJL in Indonesia carried out cleaning
and disinfection at its workers housing
complex and other public areas such as
halls, mosques and clinics. Meanwhile
the Group management team had rallied
together by combining their time and
resources to mobilise care packages
comprising of essential food items to 857
of our non-executive employees (both
local and foreign) and to over 2,000 poor
families nationwide. I am heartened by
the thoughtful acts shown by our team
members. It is more important than ever