38 / 204
Fima CORPORATION Berhad
(197401004110) (21185-P) •
Annual Report 2020
36
5-Year Revenue & PBT Performance
(RM Million)
102.61
21.35
FYE2016
(0.55)
133.21
FYE2017
138.10
40.28
FYE2018
102.84
47.43
FYE2019
FYE2020
103.12
+0.3%
(10.62)
-122.4%
Revenue
pbt
FYE2020 Focus Areas
Improve operational cost
efficiency and effectiveness
through stringent
monitoring, increased usage
of ICT and mechanisation
Improve accessibility to
facilitate mechanisation and
speedier crop evacuation
Replanting programme
using high yielding oil palm
planting materials
Accreditation for all
Malaysian estates (100%
certification achieved for
Malaysia Sustainable Palm
Oil (“MSPO”)
For FYE2020, the Plantation Division’s
posted a loss before tax of RM10.62 million
against revenue of RM103.12 million. The
division was impacted by the recognition
of impairment losses on property, plant
and equipment (“PPE”) and right-of-use
(“ROU”) assets in the Group’s Indonesian
subsidiary, PT Nunukan Jaya Lestari
(“PTNJL”) amounting to RM17.79 million.
This impairment arose following the
decision made by the Mahkamah Agung
allowing the judicial review application
by the Menteri Agraria dan Tata Ruang/
Kepala Badan Pertanahan Nasional
(“BPN”) against PTNJL. Lower crude palm
oil (“CPO”) and crude palm kernel oil
(“CPKO”) volumes sold, as well as higher
administrative and upkeep and cultivation
had also impacted the division’s profits.
Without these impairments, the division
would have posted profit before tax of
RM7.17 million compared to RM23.80
million recorded last year.
Despite the lower CPO and CPKO sold,
revenue was 0.3% higher at RM103.12
million compared to RM102.84 million
recorded last year. The better performance
was largely due to additional revenue
contribution of RM2.81 million from
Malaysian estates this year. In addition,
average CPO and CPKO prices realized also
improved by 7.9% and 7.5% respectively,
y-o-y on the back of a supply shortfall in
Indonesia. The improved performance
has compensated for the lower overall
fresh fruit bunch (“FFB”) production which
declined 5.8% sold year-on-year (“y-o-y”)
to 156,450 MT. Average yield fell to 21.58
MT per mature hectare (FYE2019: 24.19
MT) on the back of the higher percentage
of new areas attaining maturity in our
Malaysian estates. 7.5% (FYE2019: 5.6%) of
the Group’s total matured areas are now
made up of palms with an age profile of
plantation Division : taking root