Felcra distributes RM153m in profits to 75,800 participants

The amount was 106% more or almost RM79m compared to the same period last year

FELCRA Bhd announced an interim distributable profit payment 1/2022 totalling RM153 million to its 75,800 participants nationwide this year.

Rural Development Minister Datuk Seri Mahdzir Khalid said the amount was an increase of 106% or almost RM79 million compared to the same period last year.

“It is a commendable performance by Felcra and I highly encourage Felcra to collaborate with other private companies to further expand its business, especially in the field of agricultural technology.

“This will, in turn, increase Felcra’s operating profit and provide higher returns to all participants,” he said after officiating Felcra’s interim distributable profit 1/2022 presentation ceremony in Padang Terap yesterday.

Also present were Felcra chairman Datuk Ahmad Jazlan Yaakub and CEO Datuk Mat Roni Zakaria.

Meanwhile, Mahdzir said the payment of the distributable profit would be implemented in stages beginning yesterday.

“This year’s distributable profit performance is contributed by the increase in palm oil and rubber commodity prices. As at April 2022, the average price of palm oil commodity was almost RM1,200 (per tonne), an increase of RM550 or more than 79% compared to last year’s price of RM670.

“There is also an increase in the average plantation profit per hectare of RM4,900 or almost 57% compared to RM3,100 recorded last year,” he said. — Bernama / pic TMR