47 ANNUAL INTEGRATED REPORT 2021 ADDITIONAL INFORMATION HOW WE ARE GOVERNED REINFORCING SUSTAINABILITY FUTURE OUTLOOK Moving forward, we foresee a dynamic year of growth, bolstered by the alignment with national interests as we continue to transform and restructure our business model. Our future plan is for FGV’s businesses to be organised based on functions that will enable FGV to transform our business model to that of a market penetrator, brand owner, and innovative product developer. We intend to increase competitiveness in every business sector by being: • Responsive to market needs • Reliable in delivering a consistent supply of quality products • Innovative in maximising value and efficiencies • Capable to meet demands in a timely and responsible manner Across our Plantation operations, further sweating of assets will be required to improve key operational metrics. We will optimise our value chain to expand our reach, market offerings and product presence. This will be supported with human capital development and enhancement, prudent cost management, and enhanced production efficiencies. In our Sugar business, we will maximise asset utilisation and optimise our local presence through an aggressive sales strategy, regional export penetration and value-added business activities. Business efficiencies will be built on further digitalisation and operational improvements. We intend to further grow our LO capabilities and potential through market expansion and diversification while enhancing operational effectiveness. As for Integrated Farming, we will concentrate on realising value of investments through improvements in cash crops, paddy, dairy and animal nutrition businesses. Once our businesses grow in value, growth through market penetration will be the next target as we expand our brand equity and international presence. Internal restructuring is ongoing as we target to realise effective and value-accretive Corporate Services to accelerate the way forward. The core priority encapsulating all our forward-moving plans is to champion sustainability through clear ESG targets and goals. We are mindful that through the lens of the global market, in this new future of FGV, sustainability is our primary business driver and I am certain we will be rewarded accordingly. The palm oil industry is subject to increasingly stringent standards in labour, environment and climate change. Given FGV’s unique position in the industry, as we serve the interests of smallholders too, we have bigger hurdles to overcome than normal plantation companies. DELIVERING VALUE TOGETHER Working in synergy with FELDA, I believe the challenges that lie ahead of us, though great, are not insurmountable. The current market environment presents a ripe time to grow new strengths. With the commitment and support of our shareholders, we can leverage on our assets and accelerate this momentum of growth. The support and guidance of our diverse Board is another source of strength in our journey ahead. It is gratifying to be led by the current diverse and well-experienced Board. On this note, I would like to acknowledge the unexpected loss of our Deputy Chairman, the late Dato’ Yusli Mohamed Yusoff, and extend my deepest condolences to his bereaved family. His work with FGV lives on and we will build on his valuable contributions. Through the support and partnership of our stakeholders, and clear strategic path ahead, I am confident FGV will deliver on our vision. I am proud to have been given the chance to steer FGV towards this new future in agribusiness and look forward to the journey ahead with the remarkable team of dedicated managers, loyal workforce and supportive shareholders. Mohd Nazrul Izam Mansor Group Chief Executive Officer
RkJQdWJsaXNoZXIy NDgzMzc=