FGV SETS ASIDE
Allocation for 2 units to help improve upstream, downstream technologies
FELDA Global Ventures Holdings Bhd (FGV) is allocating RM40 million a year for research and development (R&D) activities at FGV R&D Sdn Bhd and FGV Applied Technologies Sdn Bhd (FGVAT) in bid to improve upstream and downstream technologies.
FGV R&D chief executive officer (CEO) Dr Sharifah Shahrul Rabiah Syed Alwee said FGV R&D was tasked with upstream R&D activities involving biological sciences studies, while FGVAT was tasked with downstream R&D, including food and non-food applications of palm oil.
She said RM30 million was allocated for FGV R&D and RM10 million for FGVAT.
“FGV R&D’s allocation is fully funded by Felda Agricultural Services Sdn Bhd (FASSB), a unit entrusted with commercialising the upstream R&D output, while FGVAT gets its allocation from other FGV entities.
“Through the product commercialisation, some of FASSB profits will be ploughed back into R&D,” said Sharifah during a media familiarisation trip to
FGV R&D’s facilities in Enstek, Negri Sembilan, and Tekam, Pahang, recently.
FASSB was allocated 12,000ha, of which 2,400ha are used for R&D purposes like breeding trials, agronomy trials and crop protection trials, while the rest are used for commercial plantation that adopts R&D findings.
“That is why this plantation has a higher yielding, compared with other FGV’s plantations, and it is also FASSB’s main revenue generator, ” she added.
FASSB registered a revenue