Dividend Entitlement and Payment - MalaysiaStock.Biz 2 • RIMBUNAN SAWIT BERHAD NOTICE IS HEREBY...

RIMBUNAN SAWIT BERHAD • 1

02 ............... Notices of Annual General Meeting, Dividend Entitlement and Payment

07 ............... Corporate Information

08 ............... Corporate Structure

09 ............... Financial Highlights

10 ............... Chairman’s Statement

13 ............... Corporate Social Responsibility

19 ............... Profile of Directors

22 ............... Statement on Corporate Governance

29 ............... Report of The Audit Committee

35 ............... Statement on Internal Control

37 ............... Statement of Directors’ Responsibilities for Preparing the Annual Financial Statements

38 ............... Additional Compliance Information

41 ............... Financial Statements

138 ............. List of Properties Owned by the Group

139 ............. Analysis of Shareholdings

Form of Proxy

2 • RIMBUNAN SAWIT BERHAD

NOTICE IS HEREBY GIVEN that the Seventh Annual General Meeting of the Company will be held at Function Room, 1st Floor, No. 41 & 42, Pusat Suria Permata, Jalan Upper Lanang, 96000 Sibu, Sarawak on Friday, 8 June 2012 at 11.30 a.m. to transact the following businesses:

A G E N D A

1. To receive the Audited Financial Statements of the Company for the financial year ended 31 December 2011 together with the Reports of the Directors and Auditors thereon.

2. To consider and if thought fit, to pass the following resolution:

“THAT, subject to passing of the Resolution 2 below, a first and final single tier dividend of 1.5 sen per ordinary share of RM0.50 each be declared in respect of the financial year ended 31 December 2011.”


“THAT, subject to passing of the Resolution 1 above, a first and final single tier dividend of 1.5 sen per irredeemable convertible preference share of RM0.50 each be declared in respect of the financial year ended 31 December 2011 to be payable on the date final dividend is paid on the ordinary shares.”

4. To approve the payment of directors’ fees for the financial year ended 31 December 2011.

5. To approve the increase of directors’ fees for the financial year ending 31 December 2012.

6. To re-elect the following Directors who retire pursuant to Article 81 of the Company’s Articles of Association and being eligible, offer themselves for re-election:

(i) Mr. Bong Wei Leong; and (ii) Mr. Tiong Ing Ming.


“THAT pursuant to Section 129(6) of the Companies Act, 1965, YBhg. Tan Sri Datuk Sir Diong Hiew King @ Tiong Hiew King be hereby re-appointed as a director of the Company to hold office until the conclusion of the next annual general meeting.”

8. To re-appoint Messrs. Crowe Horwath as auditors for the ensuing year and to authorise the Directors to fix their remuneration.

As special business

9. Toconsiderand,ifthoughtfit,passthefollowingordinaryresolution:

Proposed renewal of and new shareholder mandates for recurrent related party transactions of a revenue or trading nature (“Shareholder Mandate”)

“THAT approval be hereby given to the Company and its subsidiaries (“RSB Group”) to enter into any of the category of related party transactions which are recurrent, of a revenue or

NOTICES OF ANNUAL GENERAL MEETING, DIVIDENDENTITLEMENT AND PAYMENT

Resolution 1

Resolution 2

Resolution 3

Resolution 4

Resolution 5Resolution 6

Resolution 7

Resolution 8

Resolution 9


trading nature and are necessary for day-to-day operations of RSB Group as outlined in point 3(b) (pages 4 to 27) of Part A of the Circular to Shareholders dated 17 May 2012 (“Circular”), with the specific related parties mentioned therein subject further to the following:

(a) the transactions are in the ordinary course of business and are on normal commercial terms which are not more favourable to the related parties than those generally available to the public and not detrimental to the interest of the minority shareholders; and

(b) disclosure is made in the annual report a breakdown of the aggregate value of the transactions conducted pursuant to the Shareholder Mandate during the financial year where the aggregate value is equal to or more than the threshold prescribed under Paragraph 10.09(1) of the Main Market Listing Requirements, and amongst others, based on the following information:

• the type of the recurrent related party transactions made; and • the names of the related parties involved in each type of the recurrent related

party transactions made and their relationship with the Company.

AND THAT such approval will continue to be in force until:

(a) the conclusion of the next annual general meeting (“AGM”) of the Company, at which time it will lapse, unless by ordinary resolution passed at the meeting, the authority is renewed;

(b) the expiration of the period within which the next AGM of the Company after that date is required to be held pursuant to Section 143(1) of the Companies Act, 1965 (“Act”) [but must not extend to such extension as may be allowed pursuant to Section 143(2) of the Act]; or

(c) revoked or varied by resolution passed by the shareholders in general meeting,

whichever is the earlier.

AND THAT the Directors of the Company be hereby authorised to complete and do all such acts and things as they may consider expedient or necessary to give effect to the Shareholder Mandate.

AND THAT the estimated value given on the recurrent related party transactions specified in point 3(b) of the Circular being provisional in nature, the Directors of the Company be hereby authorised to agree to the actual amount or amounts thereof provided always that such amount or amounts comply with the review procedures set out in point 3(f) of the Circular.”

10. Toconsiderand,ifthoughtfit,passthefollowingordinaryresolution:

Proposed authority for purchase of own shares by the Company

“THAT, subject always to the Companies Act, 1965 (“the Act”), rules, regulations and orders made pursuant to the Act, provisions of the Company’s Memorandum and Articles of

Resolution 10

NOTICES OF ANNUAL GENERAL MEETING, DIVIDENDENTITLEMENT AND PAYMENT (cont’d)


Association and the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) and any other relevant authority, the Company be hereby unconditionally and generally authorised to purchase and hold on the market of Bursa Securities such number of ordinary shares of RM0.50 each (“Shares”) in the Company (“Proposed Share Buy-Back”) as may be determined by the Directors from time to time through Bursa Securities upon such terms and conditions as the Directors may deem fit, necessary and expedient in the interest of the Company provided that the total aggregate number of Shares purchased and/or held or to be purchased and/or held pursuant to this resolution shall not exceed ten percent (10%) of the total issued and paid-up ordinary share capital of the Company for the time being and an amount not exceeding the Company’s reserves at the time of purchase be allocated by the Company for the Proposed Share Buy-Back AND THAT, such Shares purchased are to be retained as treasury shares and distributed as dividends and/or resold on the market of Bursa Securities, or subsequently may be cancelled AND THAT the Directors be hereby authorised and empowered to do all acts and things and to take all such steps and to enter into and execute all commitments, transactions, deeds, agreements, arrangements, undertakings, indemnities, transfers, assignments and/or guarantees as they may deem fit, necessary, expedient and/or appropriate in order to implement, finalise and give full effect to the Proposed Share Buy-Back with full powers to assent to any conditions, modifications, revaluations, variations and/or amendments, as may be required or imposed by any relevant authority or authorities AND FURTHER THAT the authority hereby given will commence immediately upon passing of this ordinary resolution and will continue to be in force until:

(a) the conclusion of the next AGM of the Company, at which time it will lapse, unless by ordinary resolution passed at that meeting, the authority is renewed, either unconditionally or subject to conditions;

(b) the expiration of the period within which the next AGM after that date is required by law to be held; or

(c) revoked or varied by ordinary resolution passed by the shareholders in general meeting,

whichever occurs first, in accordance with the provisions of the guidelines issued by Bursa Securities or any other relevant authorities.”

11. Toconsiderand,ifthoughtfit,passthefollowingspecialresolution:

Proposed amendments to the Company’s Articles of Association

“THAT the proposed amendments to the Company’s Articles of Association as set out on pages 42 to 43 of Part C of the Circular to Shareholders dated 17 May 2012 be hereby approved.”

12. To transact any other business of which, due notice shall have been given in accordance with the Companies Act, 1965 and the Company’s Articles of Association.


Resolution 11



NOTICE OF DIVIDEND ENTITLEMENT AND PAYMENT

NOTICE IS ALSO HEREBY GIVEN that a first and final single tier dividend of 1.5 sen per ordinary share of RM0.50 each, in respect of the financial year ended 31 December 2011, if approved at the forthcoming Seventh Annual General Meeting, will be paid on 18 July 2012 to depositors whose names appear in the Record of Depositors on 22 June 2012.

A depositor shall qualify for entitlement only in respect of:

(a) shares transferred to the depositor’s securities account before 4.00 p.m. on 22 June 2012 in respect of transfers; and

(b) shares bought on Bursa Malaysia Securities Berhad on a cum entitlement basis according to the Rules of Bursa Malaysia Securities Berhad.

By order of the Board

Toh Ka Soon (MAICSA 7031153)Voon Jan Moi (MAICSA 7021367)Joint Company Secretaries

Dated: 17 May 2012Sibu

Notes: 1. A proxy may but need not be a member of the Company and the provisions of Section 149(1)(b) of the Companies Act,

1965 shall not apply to the Company.

2. To be valid, the form of proxy, duly completed must be deposited at the registered office of the Company at No. 85 & 86, Pusat Suria Permata, Jalan Upper Lanang 12A, 96000 Sibu, Sarawak not less than 48 hours before the time for holding the meeting or any adjournment thereof.

3. A member of the Company entitled to attend and vote at this Annual General Meeting, shall not be entitled to appoint more than two (2) proxies to attend and vote at the same meeting. Where a member appoints more than one (1) proxy, the appointment shall be invalid unless he specifies the proportions of his holdings to be represented by each proxy.

4. Where a member of the Company is an exempt authorised nominee which holds ordinary shares in the Company for multiple beneficial owners in one (1) securities account (“omnibus account”), there is no limit to the number of proxies which the exempt authorised nominee may appoint in respect of each omnibus account it holds. An exempt authorised nominee refers to an authorised nominee defined under the Securities Industry (Central Depositories) Act 1991 (“SICDA”) which is exempted from compliance with the provisions of subsection 25A(1) of SICDA.

5. If the appointor is a corporation, the form of proxy must be executed under its common seal or under the hand of an officer or attorney duly authorised.

6. A depositor whose name appears in the Record of Depositors as at 4 June 2012 shall be regarded as a Member of the Company entitled to attend this Annual General Meeting or appoint a proxy to attend and vote on his behalf.



7. Explanatory Note on Special Business:

(i) Ordinary resolution on Shareholder Mandate for recurrent related party transactions Paragraph10.09oftheMainMarketListingRequirementsstatesthatwithregardtorelatedpartytransactionswhich

arerecurrent,ofarevenueortradingnatureandwhicharenecessaryforday-to-dayoperations(“RRPT”),apubliclistedcompanymayseekashareholdermandate.

TheproposedresolutionNo.9,ifpassed,willauthorisetheCompanyandeachofitssubsidiariestoenterintoRRPTwiththemandatedrelatedpartiesasidentifiedinpoint3(b)(pages4to27)ofPartAoftheCircular,whicharenecessaryforday-to-dayoperationsoftheRSBGroup,providedthatsuchtransactionsareintheordinarycourseofbusinessandareonnormalcommercialtermswhicharenotmorefavourabletotherelatedpartiesthanthosegenerallyavailabletothepublicandnotdetrimentaltotheinterestoftheminorityshareholders.

Byobtaining theShareholderMandate, thenecessity toconveneseparatemeetings fromtime to time to seekshareholdersapprovalasandwhensuchRRPToccurwouldnotarise.ThiswouldreducesubstantialadministrativetimeandcostsassociatedwiththeconveningofsuchmeetingswithoutcompromisingonthecorporateobjectivesoftheRSBGrouporadverselyaffectingthebusinessopportunitiesavailabletotheRSBGroup.

PleaserefertoPartAoftheCircularforfurtherinformation. (ii) Ordinary resolution in relation to proposed authority for purchase of own shares by the Company TheproposedResolutionNo.10,ifpassed,willgivetheauthorityfortheCompanytopurchaseuptotenpercent

(10%)oftheissuedandpaid-upordinarysharecapitaloftheCompanythroughBursaMalaysiaSecuritiesBerhad.

PleaserefertoPartBoftheCircularforfurtherinformation.

(iii) Special resolution in relation to proposed amendments to the Company’s Articles of Association The proposed Resolution No. 11 is to amend the Company’s Articles of Association in line with the amendments

made to the Main Market Listing Requirements of Bursa Malaysia Securities Berhad and to clearly specify the business to be transacted at general meeting of the Company.

Please refer to Part C of the Circular for further information.


BOARD OF DIRECTORS

Tan Sri Datuk Sir Diong Hiew King @ Tiong Hiew King (ExecutiveChairman)Tiong Kiong King (Non-IndependentNon-ExecutiveViceChairman)Tiong Chiong Ong (Managing Director)Tiong Chiong Ie (Non-IndependentNon-ExecutiveDirector)Bong Wei Leong (IndependentDirector)Tiong Ing Ming (IndependentDirector)

COMPANY SECRETARIES

Toh Ka Soon (MAICSA 7031153)Voon Jan Moi (MAICSA 7021367)

REGISTERED OFFICE

No. 85 & 86, Pusat Suria PermataJalan Upper Lanang 12A96000 Sibu, SarawakTel. No. : 084-218555Fax No. : 084-219555

HEAD OFFICE

No. 85 & 86, Pusat Suria PermataJalan Upper Lanang 12A96000 Sibu, SarawakTel. No. : 084-218555 Fax No. : 084-219555E-mail address: [email protected]

SHARE REGISTRAR

Symphony Share Registrars Sdn. Bhd.Level 6, Symphony HouseBlock D13, Pusat Dagangan Dana 1Jalan PJU IA/4647301 Petaling JayaSelangor Darul EhsanTel. No. : 03-78418000Fax No. : 03-78418008

AUDITORS

Crowe Horwath (AF : 1018)Chartered Accountants1st Floor No.1, Lorong Pahlawan 7A2Jalan Pahlawan96000 Sibu, Sarawak STOCK EXCHANGE LISTING

Listed on Main Market of Bursa Malaysia Securities BerhadStock name : RSAWITStock code : 5113

PRINCIPAL BANKERS

RHB Bank BerhadMalayan Banking BerhadOCBC Bank (Malaysia) BerhadHong Leong Bank BerhadCIMB Bank BerhadPublic Bank BerhadBank Pertanian Malaysia Berhad

CORPORATE INFORMATION


CORPORATE STRUCTURE

Jayamax Plantation Sdn. Bhd. (Company No. 318819-W)

Lumiera Enterprise Sdn. Bhd. (Company No. 376076-V)

R. H. Plantation Sdn. Bhd.(Company No. 153619-A)

Timrest Sdn. Bhd.(Company No. 168720-D)

Nescaya Palma Sdn. Bhd. (Company No. 483804-W)

Novelpac-Puncakdana Plantation Sdn. Bhd.(Company No. 378441-K)

Woodijaya Sdn. Bhd.(Company No. 448169-P)

Rimbunan Sawit Holdings Berhad(Company No. 667071-H)

Midas Plantation Sdn. Bhd. (Company No. 671956-A)

100%

100%

100%

100%

Baram Trading Sdn. Bhd.(Company No. 60689-U)

Burung Tiong Helicopter Sdn. Bhd.(Company No. 662720-K)

PJP Pelita Biawak Plantation Sdn. Bhd.(Company No. 358147-P)

Pelita-Splendid Plantation Sdn. Bhd.(Company No. 398311-P)

PJP Pelita Ekang-Banyok Plantation Sdn. Bhd.(Company No. 718679-H)

PJP Pelita Lundu Plantation Sdn. Bhd.(Company No. 467277-W)

PJP Pelita Selangau Plantation Sdn. Bhd.(Company No. 515181-X)

PJP Pelita Ulu Teru Plantation Sdn. Bhd.(Company No. 358153-T)

85%

85%

60%

60%

60%

60%

85%

70%

100%

100%

100%

100%

100%


FINANCIAL HIGHLIGHTS

REVENUE

SHAREHOLDERS’ FUNDRM’million

100

200

300

400

500

600

700

800

900

FY2007 FY2008 FY2009 FY2010 FY20110

SHAREHOLDERS’ FUND

884

427

887994

(12 MTHS) (12 MTHS) (12 MTHS) (16 MTHS) (12MTHS)

RM’000

RM’million

400,000

350,000

300,000

250,000

200,000

150,000

100,000

50,000

FY2007 FY2008 FY2009 FY2010 FY20110

REVENUE

359,56

8

291,00

4

151,89

0

211,98

6

153,90

0


PROFIT BEFORE TAX

TOTAL ASSETS

298

265

283

1,30

7 1,61

2

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

FY2007 FY2008 FY2009 FY2010 FY2011

TOTAL ASSETSRM’million


RM’000

RM’million

80,000

70,000

100,000

90,000

60,000

50,000

40,000

30,000

20,000

10,000

FY2007 FY2008 FY2009 FY2010 FY20110

PROFIT BEFORE TAX

95,311

77,500

18,391

54,070

24,438



CHAIRMAN’S STATEMENT

Dear Shareholders,

On behalf of the Board of Directors of Rimbunan Sawit Berhad (“RSB” or “Company”) and its subsidiaries (the Group), I am pleased to present to you the Annual Report and the Audited Financial Statements for the financial year ended 31 December 2011.

ECONOMIC OUTLOOK

The global economy is expected to grow at a slower rate of 3.2% in year 2012. The Advanced Economies are forecasted to slow down from an already meager 1.6% in year 2011 to 1.3% in year 2012. However, with the uncertainty in the Euro Zone Debt crisis, it could evolve into an economic recession if the crisis could not be contained by the European Union and Central Bank. The Emerging Economies have slowed down mainly due to slower growth especially in China.

In Malaysia, the economic growth is projected at 3.8% in year 2012. The various projects under the Government’s Economic Transformation Programme (ETP) are expected to gain momentum to offset any slowdown in the private sectors.

The Palm Oil Industry in Malaysia has gained resilience in this challenging economic environment with a stable Crude Palm Oil (“CPO”) price and all-time high Palm Oil and related products export of RM80.4 billion in year 2011.

Tan Sri Datuk Sir Diong Hiew King @Tiong Hiew KingExecutive Chairman


CHAIRMAN’S STATEMENT (cont’d)

FINANCIAL HIGHLIGHTS

I am pleased to announce that the Group registered RM360 million in revenue and RM95 million in profit before taxation for the financial year ended 31 December 2011. The marked increase in revenue of 24% was mainly attributable to increase in production and more favourable average CPO and Palm Kernels (PK) prices during the financial year under review. The average selling price of CPO and PK registered in year 2011 were RM3,167 per metric ton and RM2,089 per metric ton respectively as compared to RM2,488 per metric ton and RM1,441 per metric ton recorded in financial period ended 31 December 2010. This better pricing was mainly due to growing demand and higher prices of vegetable oils in the global market driven by the impact of South America’s drought on soy harvest and a lower rapeseed crop in India.

CORPORATE EXERCISE

During the financial year under review, the Group embarked on a corporate exercise to expand the Company through renounceable rights issue of about 490 million new ordinary shares on the basis of 3 rights shares for every 1 existing ordinary share. The Extraordinary General Meeting was held on 22 August 2011 to approve the exercise and it turned out that the support from the shareholders and the public was overwhelming with 8.37% oversubscribed. The Group managed to raise about RM390 million, thus reducing our gearing ratio to 0.2 from the previous year of about 1.

To reward the shareholders and investors for their continuous support and to enable them to have greater participation in the equity of the Company, bonus share of about 654 million new shares on the basis of 1 bonus share for every 1 share held were allotted after the renounceable rights issue. The bonus issue was completed and the bonus shares were listed on the market on 14 November 2011. After this successful completion of renounceable rights and bonus issues, the total number of ordinary shares of the Company have increased to over 1.3 billion shares. Since then, the increase in daily trade volume on Bursa Malaysia and the rapid increase in the share price of RSB have indicated the clear confidence of the investors towards the prospect of RSB.

The transaction for the Memorandum signed on 2 February 2011 between the subsidiary, R.H. Plantation Sdn Bhd and Sheba Resources Sdn Bhd to purchase all the parcel of land with Oil Palm Plantation thereon situated at Sungai Luai and Sungai Bawah, Niah containing an area of 4,857 hectares, more or less for a total cash consideration of RM118 million has been completed on 30 December 2011.

OPERATING REVIEW

The Group’s oil palm matured areas were 32,990 hectares during the financial year under review as compared to the cropping hectarage of 29,272 hectares in the previous financial period ended 31 December 2010. Fresh fruit bunch (FFB) production had increased to 424,502 metric tons from 367,866 metric tons of the previous comparable period marking an increase of 15%.

In the financial year under review, the Group’s palm oil mill produced 62,995 metric tons of CPO and 14,019 metric tons PK. The CPO and the PK production increased 14% and 12% respectively as compared to previous comparable period. The Group’s oil extraction rate was 20.80% and kernel extraction rate was 4.60%.

Our Group will continue to expand its oil palm area and in line with the expected growth in crop production in the years ahead, we plan to construct two more CPO mills strategically located at Kuching and Miri regions.


CHAIRMAN’S STATEMENT (cont’d)

Adequate fertilizer application to palms is amongst the key operational activities taking on greater importance in the current and upcoming years. More importantly, good agricultural practices are steadfastly followed to maximize yield per hectare and at the same time, improving production cost efficiency to a higher level.

OUTLOOK AND PROSPECTS

The crude palm oil prices are expected to remain buoyant in the coming year with increasing demand from India and China coupled with an increase in usage of palm oil as food products and the escalating food prices globally.

The challenge for the Group is to further improve its efficiency and productivity and shall continue to work on achieving and realizing the full potential of its resources.

Going forward, barring unforeseen circumstances, the Group expects a satisfactory performance in the next financial year.

ACKNOWLEDGEMENTS

On behalf of the Board of Directors, I would like to take this opportunity to express my gratitude to all our customers and shareholders for their loyalty and continuous support. My appreciation is also extended to the Board of Directors for their endless guidance and wisdom and to the management team and employees for their hard work and unwavering commitment to the Group throughout the year.

I would also like to thank our business associates, Government authorities, financiers, suppliers and advisors for their continuing understanding, confidence and support to the Group.

Tan Sri Datuk Sir Diong Hiew King @Tiong Hiew KingExecutive Chairman


CORPORATE SOCIAL RESPONSIBILITY

As a responsible corporate citizen, Rimbunan Sawit is always fully cognizant of its Corporate Social Responsibility (CSR). Each year it takes up various CSR initiatives base on the four pillars: Environment, Workplace, Community and Marketplace.

ENVIRONMENTEnvironmental issues, such as global warming, climate change, acid rain, air pollution, hazardous waste, ozone depletion, smog and water pollution, have increasingly threatened the future of our planet. It is the responsibility of all governments, corporations and individuals to reduce environmental issues and protect our planet. Rimbunan Sawit has long been cognizant of her responsibility in this respect and is committed to expend considerable time and conscientious effort to manage its own environmental impacts.

Reduce Greenhouse Effect and Reduce Use of Fossil FuelsTo reduce the greenhouse effect, efforts have been made to trap and process the greenhouse gas produced by the waste from our palm oil mill. The trapped and processed greenhouse gas is in turn used to run the Biogas Generator, which reduces our dependence on fossil fuels to produce electricity.

Use of Renewable EnergySolar panels were installed to generate electricity for the streetlight and electrical instruments for current estates. This will also reduce the Group’s dependence of fossil fuels for electricity generation.

Integrated Pest ManagementIn Malaysia, one of the major pests in oil palm industry is leaf eating caterpillars, such as bagworms, larvae of moth, netter caterpillars etc., which damage oil palm by direct feeding on the leaves, and can cause total defoliation when in serious condition. Therefore, it is vital to implement integrated pest management (IPM) to control and limit the pest population within the economic threshold level.

IPM is an integrated approach of ‘best mix’ to reduce pest damage or to solve ecological problems to levels below economic loss. These methods are performed in three stages: prevention, observation, and intervention. It is an ecological approach with the goal of significantly reducing or eliminating the use of pesticides while at the same time managing pest populations at an acceptable level. The most important component in IPM of controlling leaf pest is to establish nectariferous or beneficial plants to provide shelter, mating sites and supplementary foods to parasitoids and predators. Among the many species tested, Euphorbia heterophylla, Turnera subulata, Cassia cobanensis and Antigonon leptopus are found to be the most attractive to natural enemies of leaf pest.

Since embarking on oil palm cultivation, the management has always emphasized in planting beneficial plants at all estates. The approach has successfully helped the plantations to reduce their leaf pest incidences and provided an insecticide-free control alternative to the problem.

Euphorbiaheterophyllawithparasitoid Cassiacobanensis TurneraSubulata


CORPORATE SOCIAL RESPONSIBILITY (cont’d)

Reduce Use of Rodenticides with Barn OwlsRodents or rats are a major pest in oil palm plantations in Malaysia. It is a common practice to use rodenticides to combat rodents. However, these pesticides are relatively ineffective as they are short-lived and have to be re-applied frequently. Moreover, rodents become bait shy after their use. In addition to being ineffective, rodenticides destroy ecosystems, poison the soil and water systems and have secondary health effects on humans and wildlife. As an environmentally friendly alternative to rodenticides, Barn Owls have been used successfully as pest control agents in a few of the Group’s estates, effectively decreasing rodent numbers.

Increase Environmental Awareness – “Green Week”To educate and increase our staff’s environmental awareness, a ’Green Week’ campaign was organized in conjunction with the worldwide Earth Hour campaign.

In the year under review, the ’Green Week’ initiative encouraged all staff to practice 4Rs - Reduce, Recycle, Rethink and React – in their working environment. Various activities such as decoration of workplace, car pool, collection of recyclable items and plant photo shooting contest were organized. Besides, RSB echoed the call for Earth Hour 2011 in its special way by switching off all non-essential electrical appliances such as computer equipment, lightings, air conditioning and so forth during lunch time every day in the Green Week.

WORKPLACERimbunan Sawit recognises its people as its most valuable asset. Each year it initiates various purpose-built activities to promote employee wellness and engagement so as to keep a good balance between life and work for all its employees, enhance their knowledge and skill set through professional training courses, recognising and promoting their diversity, fostering a culture based on individual merit and effective teamwork, recognising their efforts and rewarding them for the contribution they make to the Company’s success and promote initiatives that help enhance employee satisfaction in their work and career. Work-Life BalanceEach year various sports and social activities are organized to build camaraderie among the Group’s employees. Annual activities include playing badminton, bowling and table tennis games and organizing game competitions, providing gym work-out facilities, conducting aerobic classes and organizing staff trips/outings and tours etc, allow employees of all levels to interact and bond with each other through common interest outside the office.

Barnowlnestsareseeninstalledat various strategic locationsin a RSB estate to attract barnowls tobuildnestsandpossiblybreed to multiply so that theywould feedon the rodents/ratstoreducetheirmenace.

One young owl takinginhabitance inoneof thenestsshortlyaftererectingthenestsinaRSBestate.


It also celebrates with its staff Malaysia’s unique cultural and ethnic diversity in the many festive celebrations in the spirit of 1 Malaysia. For example, Chinese New Year, Gawai Dayak, Hari Raya Aidilfitri, Deepavali and Christmas are among other festivities celebrated each year.

People DevelopmentThe Group is only as good as the people working in it and for it. As a company built on performance, Rimbunan Sawit takes People Development very seriously. At the heart of Rimbunan Sawit’s culture is the belief that people are the organization’s greatest asset. It fully recognizes that its continuing success hinges on its ability to develop the Group’s employees and turn their potential into performance. The training syllabus is carefully reviewed and calibrated to ensure that it is current and relevant to the training needs of the Group’s employees. While certain in-house training programs are periodically conducted by Rimbunan Hijau Academy, the Group is also collaborating with Open University Malaysia to provide specialized courses such as Human Resource Management, Plantation Management & Agribusiness and Business Management.

CORPORATE SOCIAL RESPONSIBILITY (cont’d)

Date post:	13-Feb-2021
Category:	Documents
Upload:	others
View:	1 times
Download:	0 times

Dividend Entitlement and Payment - MalaysiaStock.Biz 2 • RIMBUNAN SAWIT BERHAD NOTICE IS HEREBY...

Documents