FGV Annual Report 2016

FELDA GLOBAL VENTURES HOLDINGS BERHAD 146 FINANCIAL REPORT DIRECTORS' REPORT The Directors have pleasure in submitting their annual report to the members together with the audited financial statements of the Group and the Company for the financial year ended 31 December 2016. PRINCIPAL ACTIVITIES The Company is principally an investment holding company with investments primarily in oil palm plantation and its related downstream activities, sugar refining, trading, logistics, marketing, rubber processing, research and development activities and related agribusiness activities. The principal activities of the subsidiaries are stated in Note 22 to the financial statements. There have been no significant changes in the nature of these activities of the Group and the Company during the financial year. FINANCIAL RESULTS Group RM'000 Company RM'000 Profit/(loss) attributable to owners of the Company 31,466 (70,935) Non-controlling interests 34,993 - Profit/(loss) for the financial year 66,459 (70,935) DIVIDENDS Dividends on ordinary shares paid or declared by the Company since 31 December 2015 are as follows: RM'000 In respect of the financial year ended 31 December 2015: - Final single tier dividend of 2.0 sen per share, paid on 30 June 2016 72,963 The Board of Directors are recommending the payment of a final single tier dividend of 1.0 sen per ordinary share amounting to RM36.48 million, which is not taxable in the hands of the shareholders pursuant to paragraph 12B of Schedule 6 of the Income Tax Act, 1967, and which is subject to the approval of the shareholders at the forthcoming Annual General Meeting of the Company. RESERVES AND PROVISIONS All material transfers to or from reserves or provisions during the financial year are shown in the financial statements.