MARKET DEVELOPMENT
Encouraging Performance by SLDB in 2014 – Rahim
Encouraging Performance by SLDB in 2014 – Rahim
21/01/2015 (Borneo Post) - The Sabah Land Development Board (SLDB) recorded an encouraging financial and operational performance in 2014, especially an increase in the payment of dividend to its 6,221 participants and settlers.
Its chairman, Datuk Haji Abdul Rahim Ismail, said the total amount of dividend paid to SLDB participants and settlers in the third quarter of last year was RM15.7 million compared to RM14.5 million in the whole year of 2013.
He said the profit before tax from SLDB’s matured fields for third quarter of 2014 was recorded at RM29.9 million compared to losses of RM9 million in the previous year.
“Following the implementation of various cost-saving initiatives in 2014, as of third quarter of SLDB administered an actual expenditure of RM13.9 million, compared to RM24.5 in the previous year.
“As of October 2014 SLDB managed to reduce the cost of fresh fruit bunch (FFB) production to an acceptable level below RM300 per metric ton from the cost of above RM400 per metric ton in 2013,” he said.
Rahim, who is also Pantai Manis Assemblyman, said SLDB, in almost two years, had upscaled several pro-active measures to consolidate the agency’s financial status and operational performances.
The appointment of Haji Jazuli W. Sunarto as SLDB’s new general manager early last year saw some restructuring in the agency’s top management level.
Moving forward, the management also introduced new initiatives such as decentralizing some of its business function, which empowers subsidiary companies and the strategic business unit to ease decision making and operation.
“In view of the drop in CPO price and yield production that affected the palm oil industry nationwide, our focus this year is to enhance the productivity and efficiency in order to address the issue, particularly in looking after the interest of our participants and settlers,” he said.
The SLDB chairman also announced that the State Government had agreed to provide 2,773 hectares of land to SLDB in Lumiri, Nabawan, which would be developed as its commercial entity.
Presently, around 89% of SLDB’s palm oil plantation activities around the state, involve settlers and participants.
More rural participants are also expected to benefit from SLDB’s agricultural land projects which are currently being developed.
“I wish to thank the State Government, especially the Chief Minister, Datuk Seri Panglima Musa Haji Aman, for agreeing to allocate the 2,773 hectares of land to SLDB.
“Of course, this will be a huge contribution to us in terms of looking after the interest and future of SLDB,” he said.
On SLDB’s future, Rahim said the agency would be introducing the private investment initiatives (PII) to investors who wish to enter joint-venture business with SLDB to develop agricultural land projects in Sabah.
Under this concept, SLDB will not borrow money from the banks to fund the development of new agricultural land projects but will be borne by the investors.
SLDB has been entrusted by the State Government to carry out several poverty eradication land development projects, especially palm oil plantation, to uplift the living standards of the rural poor in Sabah.
Among the government-backed poverty alleviation schemes implemented by SLDB are the high impact agriculture-based projects such as the Mini Estet Sejahtera (MESEJ), Agropolitan schemes and communal titles lands.
Its chairman, Datuk Haji Abdul Rahim Ismail, said the total amount of dividend paid to SLDB participants and settlers in the third quarter of last year was RM15.7 million compared to RM14.5 million in the whole year of 2013.
He said the profit before tax from SLDB’s matured fields for third quarter of 2014 was recorded at RM29.9 million compared to losses of RM9 million in the previous year.
“Following the implementation of various cost-saving initiatives in 2014, as of third quarter of SLDB administered an actual expenditure of RM13.9 million, compared to RM24.5 in the previous year.
“As of October 2014 SLDB managed to reduce the cost of fresh fruit bunch (FFB) production to an acceptable level below RM300 per metric ton from the cost of above RM400 per metric ton in 2013,” he said.
Rahim, who is also Pantai Manis Assemblyman, said SLDB, in almost two years, had upscaled several pro-active measures to consolidate the agency’s financial status and operational performances.
The appointment of Haji Jazuli W. Sunarto as SLDB’s new general manager early last year saw some restructuring in the agency’s top management level.
Moving forward, the management also introduced new initiatives such as decentralizing some of its business function, which empowers subsidiary companies and the strategic business unit to ease decision making and operation.
“In view of the drop in CPO price and yield production that affected the palm oil industry nationwide, our focus this year is to enhance the productivity and efficiency in order to address the issue, particularly in looking after the interest of our participants and settlers,” he said.
The SLDB chairman also announced that the State Government had agreed to provide 2,773 hectares of land to SLDB in Lumiri, Nabawan, which would be developed as its commercial entity.
Presently, around 89% of SLDB’s palm oil plantation activities around the state, involve settlers and participants.
More rural participants are also expected to benefit from SLDB’s agricultural land projects which are currently being developed.
“I wish to thank the State Government, especially the Chief Minister, Datuk Seri Panglima Musa Haji Aman, for agreeing to allocate the 2,773 hectares of land to SLDB.
“Of course, this will be a huge contribution to us in terms of looking after the interest and future of SLDB,” he said.
On SLDB’s future, Rahim said the agency would be introducing the private investment initiatives (PII) to investors who wish to enter joint-venture business with SLDB to develop agricultural land projects in Sabah.
Under this concept, SLDB will not borrow money from the banks to fund the development of new agricultural land projects but will be borne by the investors.
SLDB has been entrusted by the State Government to carry out several poverty eradication land development projects, especially palm oil plantation, to uplift the living standards of the rural poor in Sabah.
Among the government-backed poverty alleviation schemes implemented by SLDB are the high impact agriculture-based projects such as the Mini Estet Sejahtera (MESEJ), Agropolitan schemes and communal titles lands.