KUALA BERANG: Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi has announced a final distributable profit for 2024 amounting to RM192.51mil for Felcra Bhd’s participant project.
Ahmad Zahid, who is also the Rural and Regional Development Minister, said that the profits were generated from 583 profitable projects and would be distributed in stages starting Saturday (MArch 8) to 68,400 participants.
"I congratulate Felcra for successfully maintaining an excellent performance with a profit of more than RM192.51mil, an increase of 154 per cent or RM116.73mil compared to the same period in 2023.
"This is proof of the dedication and hard work of the entire team in empowering the rural economy," he said when delivering a speech at the Santunan Kasih Ramadan event in Kampung Kuala Akob here, on Saturday.
Ahmad Zahid said the higher profit had led to an increase in the average annual net income per participant to RM4,420.
He noted that this improvement was driven by several key factors, including increased oil palm plantation yields in the Consolidation and Rehabilitation Plantation Management programme, which saw a 9.23 per cent increase or 1.44 tonnes per hectare (ha).
Additionally, the implementation of cost-saving strategies in production also contributed to a reduction in costs by over RM401 per ha.
"Felcra's goal is to ensure that each participant receives a minimum profit distribution of RM150 per acre (0.404 ha) per month, or RM1,800 per acre per year, as a guarantee for the participants' welfare," he said.
He said that Felcra had previously made a first interim payment amounting to RM96mil to participants in June 2024, followed by a second interim payment in September 2024 totalling RM129mil.
In total, Felcra recorded a distributable profit of RM521.9mil in 2024, marking an increase of 138.4 per cent or RM302.9mil compared to 2023.
These figures demonstrate Felcra's strong commitment to ensuring its participants benefit from the nation's development, he added.- Bernama
