2 Dividends Based on the above gratifying results your Board is recommending a

2 dividends based on the above gratifying results

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2. Dividends Based on the above gratifying results, your Board is recommending a final dividend of 120sen per share consisting of; 1. A Final Single Tier Dividend of 20sen per share 2. A Special Single Tier Dividend of 100sen per share When taking into consideration the interim dividend of 30sen per share paid during December 2017,the total dividend paid in respect of FY2017 is 150sen per share. 3. Sustainability The Board upholds our commitment to undertake responsible agricultural practices which focuses on sustainability and good corporate governance. In this connection we will continue to focus on our core values being social and environmental care, integrity and innovation including necessary discipline in order to uphold our motto of being “Second to None”. We remain committed to Round Table of Sustainable Palm Oil (RSPO) and our Policies of No Deforestation, Preserving areas of High Conservation Values and High Carbon Stock including No New Development on Peat soils, whilst at the same time focusing and respecting local and indigenous communities including smallholders in order to improve their socioeconomic development. I am proud of the progress being made and grateful for the support from our
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stakeholders on this important sustainability journey. In this connection it was most pleasing that UP receivedrecognitionforitsmaidenSustainability Report 2016 by receiving the ACCA MaSRA Commendation Award for Biodiversity on the 25th January 2018. We recognize that there is always room for improvement and are committed to address ongoing challenges based on transparency and dedication towards achieving our higher sustainability goals. Our many Sustainability initiatives are covered under the “Sustainability Report” section in this annual report starting from pages 29-171. 4. Looking Forward Increased global inventories of vegetable oils during 2017 has resulted in prices coming under pressure recently mainly as a function of the continued recovery in production. As production is expected to increase further in 2018, it is likely that there will be further pressure on prices from the current level of RM 2,500/MT as inventories rise. We must therefore place strong emphasis on the importance of our core values and the necessity to adapt to the ever changing and challenging business environment in the form of lower commodity prices combined with the constraints associated with labour shortages. In closing, I would like to thank all our customers, business partners, government agencies and shareholders for their continued support and trust in our group. I would also like to place on record my appreciation for the commitment, understanding and wise counsel which I have received from all Directors. Before closing I would
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  • Spring '17

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