FGV Annual Report 2015

28 Felda Global Ventures Holdings Berhad Annual Integrated Report 2015 Key Milestones 1956 The Land Development Ordinance 1956 came into force on 1 July and FELDA was established with a starting capital of RM10 million. A total of 112,635 settlers were taken in between 1957-1990. 1992 Commercial planting operations began under Felda Plantations Sdn Bhd. 1995 Felda Holdings Sdn Bhd (now Felda Holdings Bhd or FHB) was set up as FELDA’s commercial arm. All FELDA companies and corporations became subsidiaries under FHB. 2004 FELDA commissioned the Sahabat biomass power plant in Lahad Datu, Sabah – the 1 st Clean Development Mechanism (CDM) project in the world that runs entirely on Empty Fruit Bunches (EFB). 2007 Felda Holdings Sdn Bhd opened a RM25 million Felda Biotechnology Centre in Negeri Sembilan, the largest of its kind in Southeast Asia. FELDA incorporated Felda Global Ventures Holdings Sdn Bhd (now Felda Global Ventures Holdings Bhd) to operate as the commercial arm for FELDA’s overseas investments in upstream and downstream palm oil businesses as well as other agri- businesses. 1971 FELDA embarked on its 1 st joint venture with Perlis Plantations Bhd (PPB) to establish Kilang Gula Felda Perlis Sdn Bhd (KGFP), a sugar milling and refining facility. 1978 Formation of Agricultural Services Corporation (now Felda Agricultural Services Sdn Bhd) to produce planting stock for oil palm. 1980 FELDA established an investment cooperative (Koperasi Permodalan Felda or KPF) to provide settlers and FELDA employees opportunities to invest in FELDA companies. 1985 Felda Rubber Corporation Industries (now Felda Rubber Industries Sdn Bhd) was set up to operate rubber processing factories and produce latex concentrate and rubber.