Boustead Plantations Berhad (BPB) has successfully conducted its 108th Annual General Meeting (AGM) on June 17 in a fully virtual setting following tight regulations by the Government with the implementation of Full Movement Control Order.

This is the second consecutive AGM held virtually by BPB in compliance with Government’s guidelines on social distancing and prohibition of mass gatherings.

The recently concluded AGM saw all members of the Board of Directors, Senior Management and representative of External Auditors joining the meeting remotely via Zoom video conference. Among those present virtually were BPB Chairman Dato’ Haji Ismail Haji Lasim, then BPB Chief Executive Officer Encik Ibrahim Abdul Majid and his deputy Encik Mohamad Azlan Jaafar.

In his welcoming remark, Dato’ Haji Ismail said BPB was committed to put on a stronger footing and accelerate growth in the coming years by adopting the Boustead’s Group ‘Reinventing Boustead’ strategy.

“The strategy will focus on new value creation within the business, reviewing business models for enhanced revenue streams, deepening talent development and rationalising non-strategic assets,” he said.

“This is aimed at future-proofing the Group by evolving from a brick-and-mortar company towards more robust, digitised and sustainable operations,” he added.

Meanwhile, Encik Ibrahim said BPB managed to weather through trials of 2020 against the backdrop of COVID-19 pandemic thanks to favourable palm product prices as well as BPB’s ongoing enhancement measures.

“Profit before taxation and zakat was higher at RM83 million compared with a deficit in the previous year, on the back of an improved revenue of RM763 million,” he said.

“We are confident that the Group is well-positioned to continue to remain resilient and deliver sustainable growth, guided by our Reinventing Boustead strategy,” Encik Ibrahim said during his presentation at the proceedings.

A total of 623 shareholders participated and voted virtually in the AGM which was conducted electronically using remote participation and voting facilities.

The AGM also carried all of its 11 Ordinary Resolutions that was brought forward for voting during the proceedings. The AGM commenced at 9.30am and ended at 12.00pm.