FGV Annual Report 2014

FGV Annual Report 2014 1
Introduction 4
COMPANY PROFILE 4
Vision, Mission and Values 6
KEY MILESTONES 8
Performance Highlights 10
Financial 10
Social 10
Health & Safety 11
Environment 11
Foreword to Shareholders 14
CHAIRMAN’S STATEMENT 14
CEO’S STATEMENT 18
About FGV 24
CORPORATE INFORMATION 24
BOARD OF DIRECTORS 26
KEY MANAGEMENT 38
BUSINESS CLUSTERS 46
ORGANISATIONAL CHART 48
CALENDAR OF EVENTS 50
AWARDS & ACCOLADES 54
Strategy and Value Creation 58
MARKET RISKS & OPPORTUNITIES 58
GLOBAL STRATEGIC BLUEPRINT (GSB) 60
BUSINESS MODEL 63
INVESTOR RELATIONS 64
Performance Review & Progress 70
3-YEAR FINANCIAL SUMMARY 70
BUSINESS OPERATIONS REVIEW 71
PALM UPSTREAM 71
PALM DOWNSTREAM 75
RUBBER 79
SUGAR 83
R&D AND AGRI SERVICES 87
TRANSPORT & LOGISTICS,MARKETING AND OTHERS (TLMO) 91
HUMAN RESOURCES STRATEGY 98
CORPORATE SOCIAL RESPONSIBILITY 100
SUSTAINABILITY REPORT 106
HEALTH, SAFETY AND ENVIRONMENT 112
Reports 118
STATEMENT ON CORPORATE GOVERNANCE 118
REPORT ON THE AUDIT COMMITTEE 141
STATEMENT ON CORPORATE INTEGRITY 151
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL 152
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL 156
Financial Statements 160
DIRECTORS’ REPORT 160
STATEMENT BY DIRECTORS 164
STATUTORY DECLARATION 164
INDEPENDENT AUDITORS’ REPORT 165
STATEMENTS OF COMPREHENSIVE INCOME 167
STATEMENTS OF FINANCIAL POSITION 169
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 171
STATEMENT OF CHANGES IN EQUITY 173
STATEMENTS OF CASH FLOWS 175
NOTES TO THE FINANCIAL STATEMENTS 179
SUPPLEMENTARY INFORMATION 326
Others 327
ANALYSIS ON SHAREHOLDINGS 327
TOP 10 PROPERTIES OF THE FGV GROUP 330
ADDITIONAL DISCLOSURE 333
Annual General Meeting 338
NOTICE OF ANNUAL GENERAL MEETING 338
STATEMENT ACCOMPANYING NOTICE OF ANNUAL GENERAL MEETING 339
ADMINISTRATIVE DETAILS 340

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