FGV profit is proof of good management, says Shahrir

(MMO) – The increase in profit recorded by Felda Global Ventures Holdings Bhd (FGV) last year is proof the company is in a strong position and managed in line with the objective of its formation.

Felda Chairman, Tan Sri Shahrir Abd Samad said the profit had realised the dream of every Felda citizen holding FGV shares.

“Here, we can see the difference in function, namely Felda as a government agency, while FGV is a business entity focused on profit and providing returns to shareholders.

“Chairman, Datuk Wira Azhar Abdul Hamid, as well as members of the board have succeeded in restoring FGV’s role as a business entity via the profit registered,” he added.

He said this to the media after attending the annual general meeting of the Parent-Teachers Association of (SK) Angkatan Tentera here today.

Shahrir also stressed that holding shares in the company had caused no loss to anyone as frequently cited by certain parties with the intention of bringing down FGV.

He said it was hoped that the positive development would continue to be strengthened through various initiatives and the support of the government as well as Felda, particularly in the plantation sector.

“They (opposition) only know how to find fault. Ultimately, FGV remains profitable and is able every year to pay a dividend. I am confident Felda has been restored to its original state and would continue to be strengthened,” he added.

On Friday, FGV announced a profit before tax of RM417 million for the financial year ended December 31, 2017, a 60 per cent rise compared to the RM260 million in 2016.

In a statement, the plantation company said the improvement was the result of a better performance by the plantation sector, as well as logistics and others.