KUALA LUMPUR: The Federal Land Development Authority (Felda) recorded revenue of RM186 million in the first quarter (1Q) of 2024, up three per cent from a year earlier, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.
Ahmad Zahid, who is also the Rural and Regional Development Minister, said the revenue included revenue from Felda palm lot revenue, dividends, management fees and other income.
Meanwhile, Felda's total expenditure fell 39 per cent year-on-year to RM278 million.
"The total expenditure included plantation operations cost, administrative cost, settler expenditure, financial cost, and impairment cost," he said in a written reply on the Parliament website today.
The statement was in reply to a query from Salamiah Mohd Nor (PN-Temerloh) on Felda's financial performance up to 1Q 2024.
On the agency's financial performance, Ahmad Zahid said there was an encouraging improvement in the organisation's financial management and operations, and a more effective strategy for cost control and efficiency enhancement was implemented compared with the same quarter in 2023.
TAGS: Felda, Results, 1Q 2024, Palm oil, Plantation, Ahmad Zahid Hamidi