KUALA LUMPUR: FELCRA Bhd will distribute an interim dividend 2/2019 totalling RM50.54 mil to 67,000 participants beginning Dec 15.
Economic Affairs Minister Datuk Seri Mohamed Azmin Ali said on Dec 10 that for the interim income distribution 2/2019, FELCRA had allocated 70% of its plantation income from January to August 2019 which amounted to RM72.20 mil to be distributed to the participants involved.
“The balance of 30% will be used to cover the operation costs of the plantations which have not been taken into account, if any.
“The profit to be distributed is derived from the net profits of estates of participants which are developed by FELCRA, involving 641 projects,” he said in a statement.
Mohamed Azmin said the interim payment 2/2019 was an increase of RM25.27 mil or 50% from the interim distribution made in 2018.
“The higher payment is because of the government’s concern, as it has agreed to postpone the estate development repayment so that it can be returned to the participants as additional payment, hence reducing the cost of living burden faced by the participants,” he added.
Besides that, he said, FELCRA had implemented a comprehensive transformation in its plantation operations to ensure that the average estate productivity is always at the optimum level.
“The transformation process has resulted in the production of quality fresh fruit bunches, subsequently enabling an increase in the palm oil extraction rate from 18.17% in 2018 to 18.31% in 2019,” he added.
Mohamed Azmin also said that plantation sector development is among the focus areas of the government under the Shared Prosperity Vision 2030 to generate new growth and create value-added to the nation’s economy.
“The efforts encompass more efficient and effective estate management so that land productivity could be enhanced to increase income and guarantee profits,” he added. – Bernama
