KUALA LUMPUR (Nov 6): Minister of Finance Inc's (MoF Inc) wholly-owned subsidiary FELCRA Bhd’s 2/2021 interim profit for Consolidation and Rehabilitation (C&R) projects for the financial period of May 1-Aug 31 jumped 155%, or RM152.94 million, to RM251.51 million from RM98.56 million in the same period last year.

Of the total profit, FELCRA said a total of 68,930 participants from 719 projects that recorded profits will receive the 2/2021 interim distribution of RM131.54 million in stages starting on Saturday.

“Covering the period of May to August, monthly distributions amounting to RM17.08 million had been paid, making the total amount of the 2/2021 interim distribution payments recorded at RM148.62 million.

"As in previous years, the remaining profit surplus will be paid together with the final distribution of 2021 after the adjustment of accounts and savings is made," FELCRA said in a statement on Saturday.

FELCRA chairman Datuk Ahmad Jazlan Yaakub said the hard work of FELCRA staff, as well as high commodity prices had contributed to FELCRA's success in generating more positive profits compared to the 2/2020 Interim.

“From the total profit generated for the period May to August 2021, FELCRA can distribute a total of RM148.7 million to eligible participants compared to the distribution of RM61.1 million for the same period in 2020.

"This amount includes the 2/2021 interim distribution, as well as the monthly distribution that has been paid for the period of May to August 2021," he said.

Meanwhile, FELCRA group chief executive officer Datuk Mat Roni Zakaria said although FELCRA recorded better profits for Interim 1 and Interim 2 in 2021 compared to 2020, it remained committed to improving efforts at each farm managed, from Perlis to Sabah, especially the levels of farm management productivity, efficiency and operating costs of the participants.

"Rising commodity prices in the world market due to lack of crude palm oil supply and the impact of Covid-19 have also created opportunities for locals who want to migrate to the plantation sector, especially the second generation of FELCRA participants who want to toil the land to continue their parents' legacy.

"FELCRA remains committed to creating up to 2,500 harvest operators nationwide to meet the needs of harvesting and tree management, by offering lucrative returns and various incentives for those who are interested," he said.