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Annual Report 2016
ASIA MEDIA GROUP Berhad
7
Corporate
Achievements
and
Diversification
The Group is diversifying into agricultural
businesses, particularly in green field oil palm
cultivation in Sarawak. The Group has also
formed a Joint Venture Company with the
Sarawak state Government agency Land
Custody Development Authority (“Pelita”) for
the said development.
The first phase of the plantation shall involve
about 2,000 hectares of Native Customary
Right (“NCR”) which shall take about three
years to cultivate and the Group is in the midst
of finalising another 8,000 hectares of NCR
Land to be jointly develop with Pelita.
The Group has also successfully completed its
par value reduction and share consolidation
exercise in 2015 that allow us to have a better
capital structure to undertake the diversification
of businesses.
The Group is also in the midst of executing a
Right Issue to raise the necessary funding to
support its investment in the oil palm cultivation
businesses.
Corporate Governance
AMGB believes in adhering to the best practices
of corporate governance to sustain business
efficiency and sustainability in the long term.
Evidence for this can be found in the fact that
the Group has consistently upheld the integrity
of business practices as a pivotal part of
ensuring consistent growth in its core business.
The Group’s measures towards this objective
are highlighted in the Corporate Governance
Statement in this Annual Report.
Corporate Social Responsibility
The Group believes that effective corporate
responsibility can deliver benefits to its business
and, in turn, to its shareholders by enhancing
reputation and business trust, staff motivation
and retention, customer loyalty and long-term
shareholder value.
Appreciation
I would like to take this opportunity to thank
everyone, especially the shareholders,
investors, customers, business associates and
the regulatory authorities, for their continuous
support. I would also like to extend my gratitude
to the staff, management and the Board
members for their dedication and commitment
to the Group.
DATUK SERI SYED ALI
BIN TAN SRI ABBAS ALHABSHEE
CHAIRMAN
Chairman’s Statement
(continued)