Annual Report 2021

ANNUAL REPORT

2021

The Incorporated Society of Planters
Laporan Tahunan 2021

Pergabongan Persatuan Peladang

The Incorporated Society of Planters

Registration No. 191901000023(275-T)

Registered Office:
Suite 3A01, Level 3A, PJ Tower
Amcorp Trade Centre
18 Persiaran Barat
46050 Petaling Jaya
Selangor Darul Ehsan
Malaysia
(PO Box 10262, 50708 Kuala Lumpur, Malaysia)

Tel: 03-79555561
Fax: 03-79566898
E-mail: [email protected]
Website: http://www.isp.org.my

CONTENTS / KANDUNGAN 2
5-6
The Incorporated Society of Planters 3-4
Board of Directors
Lembaga Pengarah 7
Committees 8-24
Jawatankuasa 25-35
Notice of Meeting 37-93
Notis Mesyuarat
Minutes of the 97th Annual General Meeting 94
Minit Mesyuarat Agung Tahunan Ke-97 95-98
Chairman’s Report
Laporan Pengerusi 99
Reports and Financial Statements 100-107
Laporan-laporan dan penyata kewangan 108-109
Board Meetings Attendance for the Year 2021
Kehadiran Mesyuarat Lembaga bagi Tahun 2021 110
Committee Meetings Attendance for the Year 2021 111-112
Kehadiran Mesyuarat Jawantankuasa bagi Tahun 2021
Membership 113
Keahlian 114-159
Technical Education Scheme
Skim Pelajaran Teknikal
Awards
Anugerah
ISP Management (M) Sdn Bhd
Board of Directors
Lembaga Pengarah
Board Meetings Attendance for the Year 2021
Kehadiran Mesyuarat Lembaga Pengarah bagi Tahun 2021
Reports and Financial Statements
Laporan-laporan dan Penyata Kewangan

BOARD OF DIRECTORS / LEMBAGA PENGARAH

Daud Amatzin, PJN, AISP, FISP (Datuk) (Haji) Chairman
Mohamad Fadzil bin Hitam (Haji) Vice-Chairman/**Chairman, ISPM
*Mohd Faizal bin Halim **Chairman, NATSEM 2022
(appointed with effective from 10 July 2021) Chairman, North West Malaysia
Govindasamy a/l Munisamy
Jayaraman @ J Raman a/l Permalu, AISP Chairman, North Perak
Gopala Krishnan a/l V. Renganathan Chairman, Central Perak
Ramesh a/l Veloo (Dr) Chairman, Lower Perak
Chairman, Selangor/Wilayah Persekutuan
Nor Arizal bin Abdul Azmi **Chairman, Planters’ Act Committee
Gin Kau Ngo @ Wee Kow Ngoh, AISP, FISP **Chairman, IPC 2022-2023
Mazalan bin Kamis Chairman, Negeri Sembilan
Mohd Roslan bin Mohd Din Chairman, North Johore/Pahang Tenggara
Mohd Sahir bin Yaacub **Chairman, Library Committee
Nik Rauzi bin Che Ya @ Nik Halim, LISP Chairman, Central Johore
Mohd Zukri bin Mamat Chairman, South Johore/Singapore/Rhio
*Aiwan Shah bin Asagena Chairman, West Pahang
(appointed with effective from 10 July 2021) Chairman, South Terengganu/East Pahang
Alan Khoo Choom Kwong Chairman, Central Terengganu
Mohd Karim Chang @ Chang Ka Hing Chairman, Kelantan
Chen Chu Chai @ Anthony Tsen Sui Lin, AISP, FISP
Napolean Anak Royal Ningkos Chairman, Sabah-North East
Ling Chia Yi Chairman, Sabah-Lahad Datu
*Abdul Kadir bin Mahasir (Gs) Chairman, Sabah-Tawau
(appointed with effective from 10 July 2021) Chairman, North Sarawak
M Ramachandran a/l V. D. Nair, FISP Chairman, Central Sarawak
*Joshua Mathews Chairman, South Sarawak
(appointed with effective from 11 September 2021)
Mohd Sabre bin Salim Chairman, Finance/**Audit Committee
Mohamad Hashim bin Ahmad Tajudin, FISP (Dato’ Dr) Chairman, The Planter Editorial Committee

CHIEF EXECUTIVE Chairman, Technical Education Scheme
Rajindran a/l Irusan Committee
COMPANY SECRETARY Chairman, ISP Education Fund Committee
Wong Youn Kim (MAICSA 7018778)
HMC Corporate Services Sdn Bhd *Representative
Registration No. 198201003810 (83556-P) **Second Position
PRINCIPAL BANKERS
AMBANK ISLAMIC BERHAD CORPORATE LAWYER
199401009897 (295576-U) T.Y. Teh & Partners (Advocates & Solicitors)
Amcorp Mall, G-01, Block A, Menara PJ, No 18 Jalan Suite B-11-7, Megan Avenue I, No.189, Jalan Tun
Persiaran Barat, 46050 Petaling Jaya, Selangor. Razak, 50400 Kuala Lumpur.
Tel. : 03-79588727 Tel: 03-2164 7002 / Fax: 03-2164 1980
HSBC BANK MALAYSIA BERHAD AUDITOR
198401015221 (127776-V) 2021 Baker Tailly Monteiro Heng PLT
No. 2 Leboh Ampang, 50100 Kuala Lumpur. 201906000600 (LLP0019411 -LCA) & AF 0117
Tel. : 03-20753948 Baker Tilly Tower, Level 10, Tower 1, Avenue 5,
Bangsar South City, 59200 Kuala Lumpur.
Tel. : 03-2297 1000 / Fax : 03-2282 9980
INTERNAL AUDITOR
Tan Kung Kuing (Kenneth), MBA, FCCA (UK)

2 / Annual Report 2021

COMMITTEES/ JAWATANKUASA

EXECUTIVE COMMITTEE (“EXCO”) TECHNICAL EDUCATION SCHEME
COMMITTEE (“TES”)
Daud Amatzin, PJN, AISP, FISP (Datuk) (Haji)
(Chairman) Mohd Sabre bin Salim, MBA (UiTM
Mohamad Fadzil bin Hitam (Haji) (Chairman),
Napolean Anak Royal Ningkos Chang Ah Kow
Mohd Roslan bin Mohd Din Mohd Rakib Mohd Rashid (Ph. D.) (Dr) (UMS)
Nor Arizal bin Abdul Azmi Pushparajah a/l Eliathamby, FISP (Dr)
Nik Rauzi bin Che Ya @ Nik Halim, LISP Uma Rani Sinniah (Prof. Dr.) (UPM)
Daud Amatzin, PJN, AISP, FISP (Datuk) (Haji)
Rajindran a/l Irusan (Secretary) (Ex-officio)
Mohamad Fadzil bin Hitam (Haji) (Ex-officio)

FINANCE/AUDIT COMMITTEE Rajindran a/l Irusan (Secretary)

M Ramachandran a/l V. D. Nair, FISP LIBRARY COMMITTEE
(Chairman)
Daud Amatzin, PJN, AISP, FISP (Datuk) (Haji) Gin Kau Ngo @ Wee Kow Ngoh, AISP, FISP
Mohamad Fadzil bin Hitam (Haji) (Chairman)
Napolean Anak Royal Ningkos Mohd Sabre bin Salim
Pushparajah a/l Eliathamby, FISP (Dr) Mohd Sahir bin Yaacub
Teh Su-Ching Nor Faezah Ismail
Rajindran a/l Irusan Syahrulhaida Yahya
Daud Amatzin, PJN, AISP, FISP (Datuk) (Haji)
THE PLANTER EDITORIAL (Ex-officio)
COMMITTEE (“PEC”)

Joshua Mathews (Chairman) Rajindran a/l Irusan (Secretary)
Belvinder Kaur Sron
Chung Gait Fee
M Ramachandran a/l V. D. Nair, FISP
Mohamad Fadzil bin Hitam (Haji)
Patrick Ng Hong Chuan
Pushparajah a/l Eliathamby, FISP (Dr)
S Ravigadevi (Dr)
Tasren Nazir Mahamooth Tassim Ramjan
Mahamooth (Dr)
Daud Amatzin, PJN, AISP, FISP (Datuk) (Haji)
(Ex-officio)
Rajindran a/l Irusan (Editor)

3 / Annual Report 2021

COMMITTEES/ JAWATANKUASA

PLANTERS’ ACT COMMITTEE 10TH INTERNATIONAL PLANTERS
(“PAC”) CONFERENCE 2022 - 2023
(“IPC 2022 -2023)
Ramesh a/l Veloo (Dr)
Daud Amatzin, PJN, AISP, FISP (Datuk) (Haji) Ramesh a/l Veloo (Dr) (Chairman)
Mohamad Fadzil bin Hitam (Haji) Daud Amatzin, PJN, AISP, FISP (Datuk) (Haji)
M Ramachandran a/l V. D. Nair, FISP Mohamad Fadzil bin Hitam (Haji)
Mohamad Nageeb bin Ahmad Abdul Wahab Balu Nambiappan
(Datuk) Belvinder Kaur Sron
Mohd Ramzuz bin Mohd Rashid M Ramachandran a/l V. D. Nair, FISP
Patrick Ng Hong Chuan
Rajindran a/l Irusan (Secretary) Sanath Kumaran (Dr)

THE PLANTERS’ BENEVOLENT
ISP EDUCATION FUND COMMITTEE TRUST OF MALAYSIA (“PBTM”)
(“ISP-EF”) BOARD OF TRUSTEES

Mohamad Hashim bin Ahmad Tajudin, FISP Ong Chong Hye (Chairman)
(Dato’ Dr) (Chairman) Daud Amatzin, PJN, AISP, FISP (Datuk) (Haji),
Daud Amatzin, PJN, AISP, FISP (Datuk) (Haji)
Mohamad Fadzil bin Hitam (Haji) representative of ISP
M Ramachandran a/l V. D. Nair, FISP
Rajindran a/l Irusan Kamal bin Ahmad Milatu, FISP,

15TH ISP NATIONAL SEMINAR 2021 representative of ISP
(“NATSEM 2021”)
M Ramachandran a/l V. D. Nair, FISP
Mohamad Fadzil bin Hitam (Haji) (Chairman)
Daud Amatzin, PJN, AISP, FISP (Datuk) (Haji) representative of ISP
Austin Chamitt Bugatt,AISP
Chung Gait Fee Au Yong Siew Fah,
Hollis Awell, FISP, late as of 3 March 2021
M Ramachandran a/l V. D. Nair, FISP representative of MPOA
Napolean Anak Royal Ningkos
Pushparajah a/l Eliathamby, FISP (Dr) Mohamad Nageeb bin Ahmad Abdul Wahab
(Datuk),

representative of MPOA

Mohd Ramzuz bin Mohd Rashid,

representative of MPOA

Rajindran a/l Irusan,

representative of ISP (Secretary/Treasurer)

Rajindran a/l Irusan (Secretary)

4 / Annual Report 2021

BOARD OF DIRECTORS / LEMBAGA PENGARAH

DAUD AMATZIN, PJN, AISP, FISP MOHAMAD FADZIL BIN HITAM
(DATUK) (HAJI) (HAJI)
CHAIRMAN, ISP VICE - CHAIRMAN, ISP
CHAIRMAN, ISPM
CHAIRMAN, NATSEM 2022

MOHD FAIZAL GOVINDASAMY JAYARAMAN @ RAMESH A/L VELOO
BIN HALIM A/L MUNISAMY J RAMAN A/L PERMALU, (DR)

AISP

NOR ARIZAL BIN GIN KAU NGO @ MAZALAN BIN KAMIS MOHD ROSLAN BIN
ABDUL AZMI WEE KOW NGOH, MOHD DIN

AISP, FISP

5 / Annual Report 2021

BOARD OF DIRECTORS / LEMBAGA PENGARAH

MOHD SAHIR BIN NIK RAUZI BIN CHE YA @ MOHD ZUKRI BIN MAMAT AIWAN SHAH
YAACUB NIK HALIM, LISP BIN ASAGENA

ALAN KHOO MOHD KARIM CHEN CHU CHAI @ NAPOLEAN ANAK LING CHIA YI
CHOOM KWONG CHANG @ CHANG ANTHONY TSEN SUI ROYAL NINGKOS

KA HING LIN, AISP, FISP

ABDUL KADIR M RAMACHANDRAN JOSHUA MATHEWS MOHD SABRE MOHAMAD HASHIM
BIN MAHASIR (GS) A/L V. D. NAIR, BIN SALIM BIN AHMAD TAJUDIN,
FISP
FISP (DATO’ DR)

6 / Annual Report 2021

NOTICE OF MEETING

NOTICE is hereby given that the 98TH ANNUAL GENERAL MEETING of The Incorporated Society
of Planters (“ISP” or “Society”) will be held in HYBRID on Saturday, 11 June 2022 at 9.00 a.m.
at the broadcast venue at Crown Hall 3, Level 4, Crystal Crown Hotel Petaling Jaya, 12, Lorong
Utara A, Off Jalan Utara, 46200 Petaling Jaya, Selangor Darul Ehsan, Malaysia.

AGENDA

1. To confirm the minutes of the 97th Annual General Meeting held on Saturday, 10 July 2021
at 2.30 p.m. at the broadcast venue at ISP Headquarters of Suite 3A01, Level 3A, PJ Tower,
18 Persiaran Barat, Amcorp Trade Centre, 46050 Petaling Jaya, Selangor Darul Ehsan, Malaysia
(“Resolution 1”).

2. To receive the Chairman’s Report.

3. To receive and consider the Directors’ Report and Statement of Accounts for the year ended 31
December 2021 (“Resolution 2”).

4. To re-appoint M/s Baker Tilly Monteiro Heng PLT as Auditors for the year ending 31 December
2022 and to authorise the Directors to fix their remuneration (“Resolution 3”).

5. To consider any item, due and proper notice of which shall have been received by the Secretary
on or before 1 June 2022.

6. To close the Meeting.

By Order of the Board

DAUD AMATZIN, PJN, AISP, FISP (DATUK) (HAJI)
Chairman, ISP
Kuala Lumpur
Friday, 13 May 2022

Those who are physically present at the broadcast venue are reminded to ensure the applicable directives,
safety and precautionary requirements as prescribed by the Government, the Ministry of Health, the Malaysian
National Security Council and other relevant authorities to curb the spread of Covid-19 are abided by.

Note
Enclosed together with this Notice:
1. Proxy Form for Annual General Meeting
2. Administrative Guide for those participating online

In conjunction with the 98th Annual General Meeting (“AGM” or “meeting”) of the ISP, Crystal Crown Hotel Petaling
Jaya is offering the Board of Directors and members of ISP the following room rates:
Superior (sgl/bdl) RM 201.40nett (with 1 breakfast)
Superior (sgl/dbl) RM 222.60nett (with 2 breakfast)
Those who wish to stay at Crystal Crown Hotel Petaling Jaya during the meeting, please make your room
reservation directly to:
Ms Punita Siyagar, Sales & Marketing Executive, Crystal Crown Hotel Petaling jaya
Telephone : +603 7958 4422 Ext 8311
Mobile No. : +016 201 4186
Email : [email protected]

7 / Annual Report 2021

MINUTES OF THE 97TH ANNUAL GENERAL MEETING

MINUTES OF THE FULLY VIRTUAL 97TH ANNUAL GENERAL MEETING OF THE
INCORPORATED SOCIETY OF PLANTERS (“ISP” OR “THE SOCIETY”) HELD ON SATURDAY,
10 JULY 2021 AT 2.30 P.M. AT THE BROADCAST VENUE AT ISP HEADQUARTERS OF SUITE 3A01,
LEVEL 3A, PJ TOWER, 18 PERSIARAN BARAT, AMCORP TRADE CENTER, 46050 PETALING
JAYA, SELANGOR DARUL EHSAN, MALAYSIA.

PRESENT

Attendance via Video Conferencing

YBhg Datuk Haji Daud Amatzin, PJN, AISP, FISP (“Chairman of ISP” or “Datuk Chairman”)
Mohamad Fadzil Hitam (Haji) (“Vice-Chairman of ISP”/“Chairman of ISPM”)

Messrs:

M Ramachandran V D Nair, FISP - Chairman of Finance/Audit Committee

Mohd Sabre Salim - Chairman of Technical Education Scheme Committee

Gin Kau Ngo @ Wee Kow Ngoh, AISP, FISP - Chairman of Library Committee

Ramesh Veloo (Dr) - Chairman of Planters’ Act Committee

Mohamad Hashim Ahmad Tajudin, FISP (Dato’ Dr) - Chairman of ISP Education Fund Committee

Messrs: Gs Abdul Kadir Mahasir, Ahmad Parveez Hj Ghulam Kadir (Datuk Dr), Aiwan Shah Asagena, Alan
Khoo Choom Kwong, Aznan Abdul Mutalib, Balu Nambiappan, Chang Ah Kow, Chen Chu Chai @ Anthony
Tsen Sui Lin, AISP, Chiong Li Wei, Danes Kumar Manimaran, Diana Jitam, Mahbob Abdullah,
FISP, Eric Keoy, Farid Zainal, FAZIDAH ROSLI, Gopala Krishnan V Renganathan, Govindasamy Munisamy,
Haziri Ramli, Iswan Ishak, Jayaraman @ J Raman Permalu, AISP, Kah Lin HO, Khairul Anuar Ahmad, Lai
Nan Foh, Lim Thau Min, Ling Chia Yi, Low Woo Then, AISP, M Rajasegar R S Maniam, Mazalan Kamis
(Haji), Michiel David, Mohamad Hafiz Faiq Hamzah, Mohamad Khaironi Hasbie, Mohd Azman Said, Mohd
Dzulfakhri Abdullah, Mohd Khairul Azwan, Mohd Roslan Mohd Din, Mohd Sahir Yaacub, Mohd Zukri
Mamat, Mohd Faizal Halim, Muhammad Nurfaiz, Muslisyam Mustaffa, Mustaffa Atan, Naaim
bin Noor, Napolean Anak Royal Ningkos, Nik Rauzi Che Ya @ Nik Halim, LISP, Nor Arizal Abdul Azmi,
Pupathy, Rajanaidu Nookiah, Rajoo Narayanan, Sanath Kumaran (Dr), Sapian Mohamed, Sarjit Singh, Shafar
Jefri Mokhatar, Shaharuddin Mohd Rashid, Sip Woon Chang, Siti Zuwairiah Abdullah, Sun Nee Yong, Syed
Abdullah Syed Hashim, Sylvester Jepin, Teik Swan Tan, Tengku Jamalluddin, Vijiandran Juva Rajah (Dr),
Wan Fadhli, Wai Kuan Low, Wheendy Zafrany Ahmad, Yan Qi Wong, Yew Peng Keong, Yew-Loong Cheong,
Zachary Aman, Zainal Abidin Shariff, Zazry Zainon

IN ATTENDANCE

Attendance via Video Conferencing
Encik Rajindran Irusan (“Chief Executive”)
Puan Wong Youn Kim (“Company Secretary”)

Puan Faiza Hassan
Cik N Jayamalar

BY INVITATION

EXTERNAL AUDITORS

Attendance via Video Conferencing
Messrs: Baker Tilly Monteiro Heng PLT
Represented by Puan Lee Yue Min, Audit Manager

Puan Yap Shing Wei, Audit Associate

8 / Annual Report 2021

PRELIMINARY

Before commencement of the Meeting, on behalf of the ISP Board of Directors, it was a great honour
in presenting the Fellowship ISP awards to Encik Wee Kow Ngoh and Dr Hereward Corley who
have been members of ISP since 1973. Their citations were presented by Dr Ramesh Veloo and
Encik Mahbob Abdullah respectively and followed by acceptance speech read by Encik Wee Kow
Ngoh and Encik Mahbob Abdullah, on behalf of Dr Hereward Corley who was unable to attend the
session. The awards were conferred by the Board of Directors to those members of the Society for
their outstanding meritorious services to the plantation industry.

Next was the ISP Education Fund (ISP-EF) Scholarship presented to Muhammad Amir Irfan bin
Mohd Sahir who is currently pursuing Bachelor of Science (Hons.) in Plantation Technology and
Management at the Universiti Teknologi Mara (UiTM), Jasin Campus, Malacca. Muhammad Amir
Irfan is the son of the ISP Board member, Encik Mohd Sahir Yaacub.

The next presentation was the Staff Long Services Award to Halimatussak’diyah binti Baharuddin
who joined ISP on 3 January 2011 and as at 3 January 2021, she has served the ISP Group for 10
years.

The criteria for the Long Service Award is 10 years in service under the ISP Group. The Award
entitles a cash value of RM500.00 per year of service (10 years and above) with ISP Group. The Long
Service Award for year 2021 was approved by the ISP Board of Directors on 10 April 2021.

1. QUORUM

YBhg Datuk Haji Daud Amatzin, Chairman of ISP on behalf of the Board of Directors
welcomed everyone to the 97th Annual General Meeting of the Company (“AGM” or “the
Meeting”) which was held fully virtual.

Upon confirmation that a quorum was present in accordance with Article 16(f) of the Articles
of Association of the Company as reported by the Company Secretary, YBhg Datuk
Chairman called the Meeting to order at 3.05 p.m. immediately after the conclusion of the
awards presentation ceremony.

YBhg Datuk Chairman explained that the Meeting was conducted in a fully virtual environment,
according to the Guidelines of the Securities Commission Malaysia dated 18 April 2020 and
revisions up to June 2021 and introduced the Board members, members of ISP as well as
the External Auditors who attended the live streaming. YBhg Datuk Chairman also took the
opportunity to thank Encik Fikree Zulkifli and Encik Low Yam Long for their dedication and
invaluable contributions to the ISP North West Malaysia Branch as Acting Chairman in the
absence of the Branch Chairman.

2. NOTICE OF MEETING

The Notice and Agenda convening the Meeting as set out in the Company’s Annual Report
2020 as well as the notification to members on the change of broadcast venue of 97th Annual
General Meeting have been properly circulated in electronic mode was taken as read.

9 / Annual Report 2021

Before proceeding with the agenda items, the Company Secretary, Puan Wong Youn Kim was
invited to brief on the housekeeping procedures which has to be adhered to pertaining to the
fully virtual AGM, in tabling and approving the resolutions via the online voting platform at
the AGM.

The Company Secretary gave an overview, among others were the following:

a) The 97th AGM was conducted in compliance with the prevailing and applicable Standard
Operating Procedures (SOPs) as prescribed by the Government, the Ministry of Health, the
Malaysian National Security Council and other relevant authorities to curb the spread of
Covid-19.

b) To facilitate the flow of the Meeting, the Society’s Chairman, YBhg Datuk Haji Daud
Amatzin and Vice-Chairman, Tuan Haji Mohamad Fadzil Hitam, who are members of the
Society have offered themselves to be the Proposer and Seconder for all the motions;

c) HMC Corporate Services Sdn Bhd has been appointed as the Administrator to conduct and
supervise the voting process and results; and

d) Members are directed to submit their questions through the online query box any time
throughout the Meeting and all resolutions set out in the notice of the AGM would be voted
electronically via the remote participation and voting facility provided by HMC Corporate
Services Sdn Bhd (“HMC”). The voting results to all resolutions will be announced after
the end of the voting session.

3. TO CONFIRM THE MINUTES OF THE 96TH ANNUAL GENERAL MEETING HELD
ON SATURDAY, 12 SEPTEMBER 2020 AT 4.00 P.M. AT BROADCAST VENUE
AT ISP HEADQUARTERS OF SUITE 3A01, LEVEL 3A, PJ TOWER, 18 PERSIARAN
BARAT, AMCORP TRADE CENTRE, 46050 PETALING JAYA, SELANGOR DARUL
EHSAN, MALAYSIA (“ORDINARY RESOLUTION 1”).

The Meeting proceeded with the first item on the agenda, which was to approve the minutes
of the 96th Annual General Meeting of the Company as the correct records of the proceedings
thereat.

4. TO RECEIVE THE CHAIRMAN’S REPORT.

The Chairman’s report was set out from pages 48 to 70 of the Annual Report 2020.

YBhg Datuk Chairman called upon the Chairman of ISPM and Chairman of various Committees
to report on their progress: -

The Planter Editorial Committee (“PEC”)

Dr E Pushparajah, Chairman of PEC reported on the following:

10 / Annual Report 2021

Every year the main concern with regards to The Planter is the lack of papers resulting in
the delay in printing. But in year 2020, we are glad to inform that The Planter was published
almost on time.

The Covid-19 pandemic has had and is still having an adverse effect on a number of businesses
including the plantation industry. The Movement Control Order (“MCO”) initially resulted in
staff having to work from home.

Despite challenges during the pandemic, The Planter had benefited, in the sense that more
authors had time to put pen to paper. Sufficient papers were received for publication. As a
result, at end of December, the December issue was sent for printing. Our appreciation to the
authors who find time to contribute to The Planter.

Hopefully, the flow of papers for publication will not decrease. However, we had some
challenges to secure editorials. An editorial is the main element in The Planter and a delay in
securing one will delay the printing of the magazine.

Dr E Pushparajah thanked the authors of editorials and articles as well as the reviewers of
articles and advertisers for their contributions to The Planter. He also thanked The Planter
Editorial Committee for their valuable inputs especially in maintaining the quality of the
editorial. Their stringent scrutiny and reasonable comments had resulted in improving the
quality of papers being published

For the past few years, an honorarium is being paid for editorials and the original technical
papers published in The Planter. The honorarium of RM1,000 is awarded for an editorial
published in The Planter and as for the original technical papers, the honorarium is between
RM1,500- RM2,500.

The Covid-19 has made The Planter an even better platform for agricultural related companies
to advertise their products. The inability to travel for marketing during the MCO has attracted
some new advertisers to publicise their products, through The Planter. The Society is pleased
to note the value of The Planter during these crucial times.

ISP had decided to migrate from traditional to electronic version (e-Planter). Such migration
will be carried out in stages and surveys were carried out to that regards. The summary results
of the survey (hardcopies versus e-Planter), carried out in 2018, 2019 and 2021 were presented
for notification. Details are as follows:

Results of Survey for the Years 2018, 2019 and 2021

Survey conducted Year 2018 Year 2019 Year 2021
No. responded 499
Print copy 166 208 209
E-version 283
110 136
Advertisers
56 72

95% wanted print copy 50% opted for hardcopy 42% opted for hardcopy

11 / Annual Report 2021

As for the Berita ISP which mainly covers ISP activities, the following details were presented
at the Meeting for the ISP Board and members’ notification.

No. Issue Date Posted/Emailed Posted with The Planter issue
1. 01/2020 20 May 2020
2. 02/2020 30 June 2020 20 May 2020

3. 03/2020 9 September 2020 Emailed to all members
4. 04/2020 14 December 2020
(Not printed because it was during the MCO period)

July 2020

Emailed to all members

The ISP members are encouraged to contribute brief write-ups/news (with photos) of their
Branch activities, experiences in the plantation sector and other related topics for the newsletter.

Technical Education Scheme (“TES”) Committee

Encik Mohd Sabre Salim, Chairman of TES reported on the following:

Migration of Old Syllabus to New Syllabus

The new syllabus of the Technical Education Scheme was implemented in March 2017.
The examinations under the old syllabus are still in-force and the “cut-off-point” will be by
31 December 2022. The new syllabus will be fully in force thereafter. However, members
have expressed concern that they might not be able to complete the old syllabus within the
estimated “cut-off point”. The TES Committee therefore at its meeting on 9 September 2020,
after due deliberation had decided to consider giving exemption on case-by-case basis, only
for the LISP examinations.

The TES and Training unit will be publishing four (4) new Notes. The following publications
will be available in 2021.

Module III

1 Total Quality Management and Productivity

Module IV

1 Industrial Crops Practices - Part B [Crop Harvest and Post-Harvest Handling or Primary
Processing]
a. Coconut

2 Processing Plantation Crops: Oil Palm
3 Factory Management and Quality Assurance: Oil Palm

12 / Annual Report 2021

LISP/AISP Examinations

The comparisons on the number of candidates who sat for the LISP/AISP examinations for
the old and new syllabus which were found from pages 138 to 145 of the Annual Report 2020
were tabled for ISP Board and members’ notification.

In 2020, number of candidates registered for March and October’s examination was
210 compared to 271 in 2019 for old and new syllabus. The registration for old and new
syllabus decreased in various modules in 2020 due to the Movement Control Order (“MCO”)
implemented by the Government of Malaysia in response to the Covid-19 in the Country.

Library Committee

Encik Wee Kow Ngoh, Chairman of Library Committee reported on the following:
Despite the Covid-19 pandemic which has impacted our working routines including conducting
meetings and in-house trainings, the Library Committee continued to be active.

ISP website

Upgraded with more information and new features:

a. Abstract of The Planter and Berita ISP;
b. Upcoming events; i.e. trainings, ISP examinations, conferences/seminars and etc.;
c. Members shall update information; i.e. change of residential or correspondence addresses,

contact details, name and contact details of next of kin and etc. from time to time via the
ISP website; and
d. Seven (7) additional hotlinks have been navigated to the website:
1. Malaysian Rubber Board (MRB);
2. Malaysian Palm Oil Board (MPOB);
3. Malaysian Palm Oil Association (MPOA);
4. Malaysian Palm Oil Council (MPOC);
5. Malaysian Palm Oil Certification Council (MPOCC);
6. Malaysian Estate Owners’ Association (MEOA); and
7. Ministry of Plantation Industries and Commodities (MPIC).

ISP Resource Centre

Total of 2,539 books are now available in the ISP library, i.e. R. T. Griffiths Resource Centre.
Cataloging of books are readily available in the library system in a more systematic way which
makes it easy access for members.

Encik Wee Kow Ngoh also thanked Dr Ramesh Veloo for donating ten (10) books on Soil to
the R. T. Griffiths Resource Centre.

13 / Annual Report 2021

e-Planter

With the proposal to implement the e-Planter in 2020, surveys were carried out in August
2020 (post) and October 2020 (email) to obtain members’ feedback whether to remain status
quo of The Planter (hardcopy) or in favour of the proposal. Out of 291 members responded,
145 had agreed with the implementation of the e-Planter. However, due to poor response, the
Committee had decided to extend the survey in year 2021 to ISP members (email) and out of
500 members responded, 283 opted for the electronic version.

Social Media

Facebook, Telegram and Instagram are the available social media platform for ISP members

Online Payment Scheme

JomPAY application has been implemented in December 2020 for easier payment of
membership subscription fee and propose to develop cashless transaction via e-Wallet and
Touch ‘n Go in the future.

ISP Vision and Mission Statement

Since only three (3) submissions received as at end of 2020, there is no reason for further
extension of time. The Board therefore had decided to engage prominent persons in the
plantation industry to draft the Vison and Mission statements which will be tabled for ISP
Board’s selection and approval (brainstorming) at its physical meeting next year.

Encik Wee Kow Ngoh took the opportunity to thank the Library Committee for their concerted
efforts and contributions.

Planters’ Act Committee (“PAC”)

Dr Ramesh Veloo, Chairman of PAC reported at the Meeting on the following:

In conjunction with its 100 years of existence in the industry in 2019, ISP decided to have an
Act drafted for the benefit of Planters and plantation industry.

Its’ primary objective is to protect the welfare, rights, dignity and safeguard the Planters and to
promote ethical standards of the plantation industry. The Act sets to provide clear guidelines to
the relevant authorities and others in ensuring compliance within the legal framework.

ISP has engaged a legal firm to provide guidance and assistance in drafting the Act which
currently is in progress. The proposed Planters’ Act has been vetted by the Planters’ Act
Committee before approved by the ISP Board on 10 April 2021.

Dr Ramesh Veloo also highlighted on the sequence of event leading to the implementation of
the proposed Planters’ Act:

14 / Annual Report 2021

1. Planters’ Act Committee;

2. ISP Board of Directors (Term 2019-2021);

3. Stakeholders of the Industry;

4. Relevant Ministry;

5. Attorney General’s Chamber; and

6. Parliament of Malaysia

Among others highlighted at the meeting were sections: 5, 8(1), 18, 19(1), 20, 30:

1. To gain recognition as professionals;

2. To achieve common acknowledgement as other professions;

3. Self-regulating with autonomous legal entity;

4. Professional accountabilities; and

5. Minimal minister’s intervention.

With that note, the proposed Planters’ Act be and is hereby adopted.
The Planters’ Act Committee consists of:
Ramesh a/l Veloo (Dr) (Chairman)
Daud Amatzin, PJN, AISP, FISP (Datuk)(Haji)
Mohamad Fadzil bin Hitam (Haji)
M Ramachandran a/l V. D. Nair, FISP
Mohamad Nageeb bin Ahmad Abdul Wahab (Datuk)
Mohd Ramzuz bin Mohd Rashid
Encik Rajindran Irusan (Secretary)

ISP Education Fund Committee (“ISP-EF”)

YBhg Dato’ Dr Mohamad Hashim Ahmad Tajudin, Chairman of ISP-EF reported at the
Meeting on the following:

ISP-EF balance as of 31 December 2020 was RM460,164.00. ISP members are encouraged to
donate any amount to the fund in order to provide scholarships for more students.

The Incorporated Society of Planters (ISP) is committed to support and reward ISP members
and family members in acquiring knowledge. For this purpose, ISP continues to offer
SCHOLARSHIP to children of ISP members-in-benefit and student members’ children
and staff’s children who have been offered tertiary education in any recognised Malaysian

15 / Annual Report 2021

institutions of higher learning and have enrolled in the following disciplines: Plantation and
Agriculture including Husbandry, Science, Technology, Engineering, Mathematics and
related courses. There were no new applications received in year 2020.

ISP also recognises Malaysian University graduates in the field of agriculture/plantation and

related field by awarding Academic Excellence Awards to high achiever graduates who had
been selected by their respective Universities.

ISP similarly awards ISP members’ children who have obtained a minimum of 8As in Sijil
Pelajaran Malaysia (SPM) examination or 3.00 Cumulative Grade Point Average (CGPA) in
Sijil Tinggi Persekolahan Malaysia (STPM) examination orA-Level or equivalent examinations
by awarding Excellence Awards as an incentive for the ISP members’ children to continue to
excel to tertiary level.

The criteria of the ISP Excellence Award Scheme are as follows:

• The award opens to SPM, STPM and A-Level high achievers only (ISP members’ children
including legally adopted children and children of ISP staff);

• The members must be members-in-benefit (paid-up members) with a minimum of 3 years
continuous membership and ISP confirmed staff with a minimum of 3 years’ service with
ISP, prior to the examination date;

• ISP will allocate cash value for each category at the discretion of ISP Board of Directors;
and

• To be eligible, the candidate must have obtained a minimum of 8As in SPM or 3.00 CGPA
in STPM or A-Level/equivalent for the relevant year

ISP had provided the following number of awards: -

Description No. of recipients Total Grant (RM)

Scholarships 2020 2019 2020 2019
Academic Excellence Awards
Excellence Awards 03 0.00 30,000.00

03 0.00 6,000.00

67 3,750.00 3,750.00

ISP Management (M) Sdn Bhd (ISPM)
(Registration No. 199601039602 (411955-K)

Tuan Haji Mohamad Fadzil Hitam, Chairman of ISPM reported to the Meeting on the progress
of ISPM.

2020 had been a challenging year for ISP Management (M) Sdn Bhd with the Covid-19
pandemic crisis nationwide. The Covid-19 pandemic had severely impacted ISP and ISPM
and had caused disruption in one form or another, mainly in organising its planned short
courses and postponement of the 15th National Seminar (NATSEM). The seminar date will

16 / Annual Report 2021

be determined by the Main Organising Committee of NATSEM in due course. However, the
seminar venue, Pullman Miri Waterfront, Miri, Sarawak and theme: Addressing Challenges
in Plantation Management remain status quo. The ISPM/ISP office was temporarily closed
from 18 March 2020 to 12 May 2020 due to the Covid-19 outbreak and of the Movement
Control Order, implemented by Government of Malaysia. However, the ISPM/ISP Secretariat
worked from home to serve the ISP members and non-members in delivering efficient and
quality work. Thereafter, safety and precautionary measures were implemented at the ISPM/
ISP Headquarters as prescribed by the Government of Malaysia, the Ministry of Health, the
Malaysian National Security Council and other relevant authorities in curbing the spread of
Covid-19.

Despite the country’s tough economic conditions, preventive measures enforced by the
Government of Malaysia nationwide; i.e. Movement Control Order (“MCO”),
Conditional Movement Control Order (“CMCO”) and Recovery Movement Control Order
(“RMCO”), unpredictable global outlook and depressing CPO prices, training programmes and
short courses were conducted mainly via online platform in-line with the market expectations
to meet job-specific knowledge and skills of its members. Among others, it covered Effective
Estate Managerial Skill, Fundamental Financial and Accounting Skills Seminar, Crash Course
on Environment Sustainability, Replanting & Cultivation of Oil Palm, Integrated Cattle
Management and on Foreign Labour. One of the biggest difficulties and barriers faced was the
connectivity and communication, especially in interior area. With the new norm and moving
with times, ISP Management (M) Sdn Bhd plan to embrace digital transformation which would
enhance agility and innovation in response to current market trends and demands.

ISPM has also officially registered with Human Resources Development Fund (HRDF)
training provider with effect from March 2020 for a period of 3 years; expiring on March 2023.

An advance from ISP of 1.5 Million was released in January 2016 to ISPM for the purchase
of Suite 3A01, Level 3A, PJ Tower, Amcorp Trade Centre, 18 Persiaran Barat, 46050 Petaling
Jaya, Selangor Darul Ehsan which is to be paid within 20 years (RM75,000/year), effective
from year 2018. We are proud to inform that ISPM had made its first repayment of RM75,000
(partial of the advance payment of RM1.5 Million) to ISP on 3 September 2018, second
payment of RM75,000 at the 95th Annual General Meeting of the Society on 14 July 2019 and
the third payment of RM75,000 was made on 28 December 2020.

Another milestone for ISPM is the collaborations with Universiti Teknologi Mara on Friendship
and Cooperation, Promotion of Mutual Understanding, Academic and Scientific Thought and
Personnel Exchange and 27 Advisory and CABI for courses and workshops which are in
progress. A Memorandum of Collaboration (“MOC”) between ISPM and FGV Plantations
(M) Sdn Bhd was signed on 28 August 2020 to provide courses, workshops and trainings
on plantation related activities. A Competency Test was also held for the Estate Managers of
FGV Plantations (M) Sdn Bhd (“FGV”) whereby the first batch consisting of fifty (50) was
conducted from January – February 2020 and the second batch consisting of fifty-eight (58)
was conducted through virtual interview from October – December 2020.

17 / Annual Report 2021

ISPM had also established a Consultancy andAdvisory Unit on 11 September 2020 to generate revenue.
With the planned activities in place, ISPM hope to reach to greater heights in the coming years.

Tuan Haji Mohamad Fadzil Hitam also highlighted the 15th ISP National Seminar 2021
(NATSEM 2021), an event not-to-be missed and encouraged the members to register by 31
July 2021 to enjoy the early bird rates. For more detail, the members were advised to visit the
ISP website at www.isp.org.my. A summary of the event are as follows:

DATES:

Seminar: 15 – 16 November 2021 (Monday and Tuesday)
Post Seminar Talk: 15 November 2021 (Monday)
Post Seminar Tours: 17 November 2021 (Wednesday)

VENUE: Pullman Miri Waterfront, Miri, Sarawak

THEME: Addressing Challenges in Plantation Management

MINISTERIAL ADDRESS:
YB Dato’ Dr Mohd Khairuddin bin Aman Razali
Minister of Plantation Industries and Commodities, Malaysia

GUEST OF HONOUR:
YAB Datuk Patinggi (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji
Openg, Chief Minister of Sarawak

After a lengthy discussion, the Chairman’s report was adopted.

YBhg Datuk Chairman thanked the Chairman of ISPM Board and respective Committee for
their presentations and concerted contributions towards ISP/ISPM and moved on to the agenda
and resolutions of the AGM.

5. TO RECEIVE AND CONSIDER THE DIRECTORS’ REPORT AND STATEMENT
OF ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 (“ORDINARY
RESOLUTION 2”).

Encik M R Chandran, Chairman of Finance Committee briefed the members present at the
Meeting on the following matters pertaining to the financial statements of the ISP Group which
was set out from pages 71 to 131 (ISP) and 152 to 198 (ISPM) of the Annual Report 2020.

Puan Lee Yue Min, Audit Manager and Puan Yap Shing Wei, Audit Associate of Baker Tilly
Monteiro Heng PLT were invited to the Meeting to enlighten the Board of Directors and ISP
members on any issues that arises in relation to the financial standing of the ISP Group.

The audited accounts for the financial year 2020 adopted by the Board of Directors were as
follows:

18 / Annual Report 2021

2019 2020

RM RM

ISP Surplus after taxation 443,996 441,135

ISPM Surplus/(Loss) after taxation 83,050 (766,075)

GROUP Surplus/(Loss) after taxation 527,046 (324,940)

# Related party transaction from ISPM to ISP 70,000 0

597,046 (324,940)

The Group registered a net deficit of RM324,940 after tax; a decline of RM921,986 (-154%) compared
to the previous year. This adverse performance is primarily due to the postponement of 15th National
Seminar (NATSEM 2020) to 2021; limited physical training programmes conducted during the
financial year and the reduced advertising revenue generated from The Planter. Twelve (12) issues of
The Planter were published in the current year compared to fourteen (14) issues in the previous year.

The Statement of Financial position of the ISP Group as at 31 December 2020 was presented
at the Meeting as follows:

2020

RM

ISP Freehold Land 321,800

ISP Building (Wisma ISP) 52,088

ISPM Leasehold Office at Amcorp Trade Centre 2,194,106
(Leasehold until 11 September 2088)

Other Fixed Assets 198,758

Total Net Book Value Fixed Assets 2,766,752

Fixed Deposits & Cash at Bank 5,295,791

Other Current Assets 404,496

TOTAL ASSETS 8,467,039

• The net book value of the ISP’s Freehold Land in Jalan Taman U-Thant was recorded at

RM321,800.
• The estimated current market value of Wisma ISP, a freehold land (area: 20,364 ft2) is

approximately at RM20,364,000.00 (RM1,000/ft2).

2020

RM

Accumulated Funds B/F 6,246,728

Deficit/Surplus after taxation (324,940)

Accumulated Funds C/F 5,921,788

Branch Funds 472,958

Other Funds * 1,020,712

R. T. Griffiths Memorial Fund 266,217

Current Liabilities 785,364

TOTAL ACCUMULATED FUNDS & LIABILITIES 8,467,039

19 / Annual Report 2021

*Other funds include: RM 573,319
RM 410,164
Members’ Immediate Relief Fund: RM 25,582
ISP Education Fund: RM 2,597
ISP Centenary Fund 2019: RM 9,050
Emergency Relief Fund/Staff Welfare Fund:
Flood Victims Donation Fund/Gerry Tilley Award: RM 1,020,712



Membership

The annual subscription fee for members was revised from RM170.00 to RM200.00 per
annum with effect from 1 January 2019. It is rather disappointing to note that only 2,524
(64%) members paid up their subscription for the year out of 4,830 ordinary members as per
the Register of Members.

Details on membership were presented at the Meeting for Board and members’ notification:

No. of Members June 2021 2020 2019 2018
Members (Ordinary) - 4,830 4,570 4,266
including non-active 4,885
Members (Life) 747 741 768 747
Fellows (Ordinary) 25 25 25 25
Fellows (Life) 29 29 29 28
5,625 5,338 5,066
Total 5,686 3,925 4,597 3,126
3, 999 2,524 2,564 2,503
MEMBERS (ORDINARY) - ACTIVE 1,672
No. of ORDINRY members PAID 64% 56% 80%
% of ORDINARY members PAID 42%
(Based on active members only) 0 888 0
Struck Off 0
(Defaulters for Two Consecutive Years)

Forecast for the Financial Year Ending 31 December 2020 for the ISP Group

Significant events during the financial year and significant events subsequent to the end of the
financial year:

On 11 March 2020 the World Health Organisation declared the Covid-19 outbreak as a
pandemic in recognition of its rapid spread across the globe On 16 March 2020 the Malaysian
Government has imposed several levels of Movement Control Order (“MCO”) starting
from 18 March 2020 to curb the spread of the Covid-19 outbreak in Malaysia. The Covid
19 outbreak also resulted in travel restriction, lockdown and other precautionary measures
imposed in various countries The emergence of the Covid 19 outbreak since early 2020 has

20 / Annual Report 2021

brought significant economic uncertainties in Malaysia and markets in which the Group and
the Company operate.

The Group and the Company have performed assessments on the overall impact of the
situation on the Group and the Company’s operations and financial implications, including
the recoverability of the carrying amount of assets and subsequent measurement of assets and
liabilities, and concluded that there is no material adverse effect on the financial statements for
the financial year ended 31 December 2020.

Given the fluidity of the situation, the Group and the Company are unable to reasonably
estimate the complete financial impacts of Covid-19 pandemic for the financial year ending
31 December 2021 to be disclosed in the financial statements as impact assessment of the
Covid-19 pandemic is a continuing process The Group and the Company will continuously
monitor any material changes to future economic conditions that will affect the Group and the
Company.

After due discussion on the relevant matters, YBhg Datuk Chairman declared that the Audited
Financial Statements for the financial year ended 31 December 2020 together with the Reports
of the Directors and Auditors thereon was properly laid before the AGM in accordance with
the Companies Act 2016.

6. TO ANNOUNCE RESULT OF THE ELECTION OF THE CHAIRMAN OF THE
SOCIETY FOR THE TERM 2021-2023.

Encik Rajindran Irusan, the Chief Executive announced that YBhg Datuk Haji Daud Amatzin
was re-elected as the Chairman of the Society for the term 2021-2023, uncontested.

7. TO ANNOUNCE RESULT OF THE ELECTION OF THE VICE-CHAIRMAN OF THE
SOCIETY FOR THE TERM 2021-2023.

Encik Rajindran Irusan, the Chief Executive announced that Tuan Haji Mohamad Fadzil Hitam
was re-elected as the Vice-Chairman of the Society for the term 2021-2023, uncontested.

8. TO APPOINT DIRECTORS FOR THE TERM 2021-2023 TO REPLACE THOSE WHO
ARE RETIRING (“ORDINARY RESOLUTION 3”).

The Meeting proceeded with the next item on the agenda, which was the appointment of
Directors for the term 2021-2023 to replace those who are retiring, as follows:

Messrs: Mohd Faizal Halim, Dr Ramesh Veloo, Aiwan Shah Asagena and Abdul Kadir Mahasir
be and are hereby appointed as Directors for the term 2021-2023 and that Chang Ah Kow,
Suhaimi Harun and Haziri Ramli retired pursuant to Article 11(a) of the Articles of Association
and their appointments be effective upon their compliance with section 201 of the Companies
Act 2016.

Messrs: Govindasamy Munisamy, Jayaraman @ J Raman Permalu, AISP, Gopala Krishnan V
Renganathan, Nor Arizal Abdul Azmi, Mazalan Kamis (Haji), Mohd Roslan Mohd Din, Mohd

21 / Annual Report 2021

Sahir Yaacub, Nik Rauzi Che Ya @ Nik Halim, LISP, Mohd Zukri Mamat, Alan Khoo Choom
Kwong, Mohd Karim Chang @ Chang Ka Hing, Chen Chu Chai @ Anthony Tsen Sui Lin,
AISP, FISP, Napolean Anak Royal Ningkos and Ling Chia Yi retired pursuant to Article 11(a)
of the Articles of Association and were reappointed as Directors for the term 2021-2023.

9. TO RE-APPOINT M/S BAKER TILLY MONTEIRO HENG PLT AS AUDITORS FOR
THE YEAR ENDING 31 DECEMBER 2021 AND TO AUTHORISE THE DIRECTORS
TO FIX THEIR REMUNERATION (“ORDINARY RESOLUTION 4”).

The Meeting moved to the next item on the agenda, which was the re-appointment of M/s
Baker Tilly Monteiro Heng PLT as Auditors for the ensuing year and that to authorise the
Directors to fix their remuneration.

YBhg Datuk Chairman informed the Meeting that the retiring Auditors has indicated their
willingness and consent to accept the re-appointment.

10. TO CONSIDER ANY ITEM, DUE AND PROPER NOTICE OF WHICH SHALL HAVE
BEEN RECEIVED BY THE SECRETARY ON OR BEFORE 24 JUNE 2021.

YBhg Datuk Chairman informed the Meeting that no written notices were received from
members by the Secretary.

YBhg Datuk Chairman expressed his gratitude to the Chairman of ISPM, Chairman of
Standing Committees, respective Branch Chairman and all members of the ISP Branches for
their support and contributions.

11. QUESTION & ANSWER

KEY MATTER RAISED BY MEMBER
(suggestion(S) and question(Q) received via the online query box)

S1: Encik Naaim bin Noor, member of ISP Kelantan Branch had suggested for ISP to
organise study tours/tourism packages for interested members to various interesting
world destinations at discounted prices as being done by others such as Institute of Land
Surveyors for its members.

YBhg remarked that the suggestion can be considered and deliberated by the ISP Board
in detail.

Q1: Encik Rajoo Narayanan, member of ISP North Sarawak Branch had raised concern on
speeding up the distribution of The Planter.

Since there being no further questions raised, the Meeting proceeded to the voting of the
resolutions. Ten minutes thereafter, YBhg Datuk Chairman announced the closure of the
voting session and adjourned the AGM to allow HMC Corporate Services Sdn Bhd to verify
the votes casted.

22 / Annual Report 2021

12. ANNOUNCEMENT OF VOTING RESULTS

YBhg Datuk Chairman reconvened the Meeting by inviting the Company Secretary to
announce the voting results as follows:

Number of votes

Resolutions For Against Total Results

Ordinary Resolution 1 40 (100.00%) 0 40 Carried
Ordinary Resolution 2 40 (100.00%) 0 40 Carried
Ordinary Resolution 3 41 (100.00%) 0 41 Carried
Ordinary Resolution 4 41 (100.00%) 0 41 Carried

It was RESOLVED as follows:

ORDINARY RESOLUTION 1
TO CONFIRM THE MINUTES OF THE 96TH ANNUAL GENERAL MEETING HELD
ON SATURDAY, 12 SEPTEMBER 2020

“THAT the minutes of the 96th Annual General Meeting of the Company held on Saturday, 12
September 2020 was confirmed as the correct records of the proceedings thereat.”

ORDINARY RESOLUTION 2
DIRECTORS’ REPORT AND STATEMENT OF ACCOUNTS FOR THE YEAR
ENDED 31 DECEMBER 2020

“THAT the Audited Financial Statements for the financial year ended 31 December 2020
together with the Report of the Directors and Auditors thereon be and are hereby approved.”

ORDINARY RESOLUTION 3
APPOINTMENT OF DIRECTORS FOR THE TERM 2021-2023 TO REPLACE
THOSE WHO ARE RETIRING

“THAT the appointment of Directors for the year 2021-2023 to replace those who are retiring
be and are hereby approved.”

ORDINARY RESOLUTION 4
RE-APPOINTMENT OF AUDITORS FOR THE YEAR ENDING 31 DECEMBER 2020

“THAT M/s Baker Tilly Monteiro Heng PLT be and is hereby re-appointed as Auditors
for the ensuing year and that authority be and is hereby given to the Directors to fix their
remuneration.”

23 / Annual Report 2021

13. TO CLOSE THE MEETING
After the voting results were released and announced and there being no other business, the
AGM ended at 6.10 p.m. with a vote of thanks to the Chair.

CONFIRMED AS CORRECT RECORDS
DAUD AMATZIN, PJN, AISP, FISP (DATUK) (HAJI)
Chairman, ISP

24 / Annual Report 2021

CHAIRMAN’S REPORT

On behalf of the Board of Directors, I am pleased to present the report and statement of Accounts of
the Society for the year ended 31 December 2021.

Membership

As at 31st December 2021, the membership of the Society stood at 5,783, a net increase of 158
from the previous year. We had 178 new members and 17 re-joining members and there were 17
resignations and 20 deaths recorded. The members who have been struck off from the register of
members are currently being put on hold. The increase in membership was due to active promotion
to young managers, additional benefits to members and conducting short courses for non-members.
Some of these members registered with the interest to sit for TES examinations. We are continuously
promoting to struck off members on membership renewal and also attracting new member.

We would like to record our appreciation to the plantation companies and supporting industries for
their support and encouragement to join and participate in ISP’s programmes.

The breakdown details of the membership position are provided in this report.

We would like to thank the Branch Chairmen and their members for their support and contribution
as well playing their part in recruiting new members and assisting in the collection of subscription.

Finance

The audited accounts for the financial year 2021 adopted by the Board of Directors gives the position
as follows: -

2020 2021

(RM) (RM)

ISP Surplus after taxation 441,135 324,043

ISPM (Deficit) after taxation (766,075) (597,029)

GROUP (Deficit) after taxation (324,940) (272,986)

The Group registered a net deficit of RM272,986 after tax; compared to a deficit of RM324,940 the
previous year.

The better performance in the current financial year was primarily due to opening up of businesses
in 2021 after the Movement Control Order (MCO) and lockdowns implemented in March 2020 was
gradually lifted. Although physical training programmes were limited, online trainings and in-house
trainings had been conducted during the current financial year 2021, including an online training
for the Department of Trade and Industry of Philippines. Short courses and trainings contributed a
surplus of RM96,854, compared to previous financial year which had contributed only a surplus of
RM55,039.

Higher advertising revenue generated from The Planter Publishing Account also contributed to the
improvement of the financial performance in the current financial year compared to 2020. All in
The Planter Publishing Account contributed a surplus of RM306,377 for the current financial year
compared to a surplus of RM255,344 in the previous financial year or an increase of 20%.

25 / Annual Report 2021

The Membership Subscription collection declined in the current financial year compared to 2020. The
total membership subscription collected was only RM581,581 in the current financial year compared
to previous financial year of RM690,590.00; a reduction of RM109,009 (16%).

The overall improvement in performance was due to the lower expenditure incurred in current financial
year. The administrative expenditure for the Group was RM1,488,762 compared to RM1,591,749
incurred in the previous financial year. This contributed a savings of RM102,987 (6%).

The lower administrative expenditure for the Group in the current year were mainly due to the
following factors:

• Annual Report expenditure recorded a savings of RM35,809. Due to MCO, the Annual Report
2020 was despatched electronically and only limited copies were printed.

• Travelling expenditure for Board of Directors, Standing Committee members and Secretariat
recorded savings of RM 17,988. Due to MCO, meetings were conducted virtually.

• Building Operating Account recorded a lower depreciation in the current financial year due to full
depreciation of the fixed assets; a savings of RM 27,339.

Prudent management resulted in expenditures being kept within the approved budget allocation.

The annual member subscription fee remains at RM200 per annum, i.e. effective 1 January 2019.
Subscription payment was rather disappointing in 2021 with only 2,309 (57%) paid-up members,
out of 4,051 members in the register. Previous financial year 2,524 (64%) members paid up their
subscription out of 3,925 active members. Life members stood at 746.

As at end 2021, the Group accumulated fund stands at RM5,648,802 compared to RM5,921,788 for
the previous financial year; a decrease of RM272,986 (5%) due to the deficit incurred for the year.

The cash position incurred a reduction of RM 315,797 (6%) from RM5,295,791 (2020) to
RM4,979,994 (2021). The Group had to tap into reserves to maintain operations during the year
because of Covid-19 pandemic.

Notwithstanding the foregoing, the financial position of the Group is stable. However, ISP
Management (M) Sdn. Bhd. (ISPM), which is a wholly owned company of The Incorporated Society
of Planters (ISP) and the economic arm of the Society confronted with Covid-19 challenges, thus
needs to be financially supported by the Society until the business environment improves. In view
of the fluidity of the situation, ISP and ISPM will be instituting the necessary mitigation measures to
minimise any negative impacts on the Group’s performance going forward.

Once again, I wish to record my gratitude and thanks to Mr. M R Chandran, Chairman of the Finance
& Audit Committees and its members for their dedication and efficient management of ISP Group
finances.

26 / Annual Report 2021

Publications

The year 2021 was a challenging year for The Planter. There was a surge in pandemic Covid- 19 and
showed no signs of abating throughout 2021. The printing press and ISP office were closed due to
the Movement Control Order (MCO), resulting in delays in printing of the monthly magazine, The
Planter. By September 2021, only up to May 2021 publications of The Planter were printed and
released. The ISP office was closed and staff had to work from home. When the MCO was partially
lifted through the national recovery plan in mid-June 2021, the staff had returned to the office to work
on an alternate day basis, as a full capacity working environment was not allowed during that time.
Despite several hurdles, up to October 2021 issues were printed and circulated by December 2021.
A substantial number of articles were received in 2021 that allowed for the backdated issues to be
printed in 2022. Nevertheless, more editorials are required. With the support of more editorials and
articles, I hope The Planter can be produced in a timely manner in 2022. Meanwhile, we hope that
the Covid 19 situation will be under control in 2022.

The Covid-19 pandemic has opened doors to the importance of a digital version of The Planter
magazine. Though discussions with regard to digital version of The Planter were held as early as
2016, there were many members and advertisers who find the idea of a digital version unfavourable.
Several times survey forms with regard to the preference for digital version were sent to members,
however, the response was poor. Based on the available information from the survey, it has been
decided to have both the printed magazine for members who preferred hard copy and digital magazine
for those who preferred digital version. The digital version was implemented effective from May
2021 publication. As of to-date, 318 members have opted for the digital version of The Planter.

The Planter has always attracted advertisers. Since the Covid-19 pandemic, new advertisers have
found it a viable platform to promote their products and their use in the plantation. I take this
opportunity to thank the advertisers for their support of The Planter magazine

My sincere thanks go to the authors of editorials, articles and reviewers for their painstaking time
to prepare editorials, papers and reviews. The Planter is guided by The Planter Editorial Committee
(PEC). I would like to thank the former Chairman, Dr. E. Pushparajah and PEC team, and the current
Chairman Mr Joshua Mathews and his team for their contributions ensuring that the standard and
quality of the magazine were always maintained in 2021

Technical Education Scheme (“TES”)

LISP/AISP Examination

A total of 156 candidates registered for the March and October 2021 LISP/AISP examinations. A
significant drop as compared to the year 2020 which recorded 210 candidates for both the old and
new syllabus. Each candidate signed up for a different paper from each module of the old and new
syllabus. A mixed grade of examination result was recorded with a notable number of candidates
obtaining distinctions in some modules of the old and new syllabus. Details of the information can
be found in the LISP/AISP Examination Table and Charts.

Due to Malaysia’s implementation of the Movement Control Order (MCO), registration for both
the old and new syllabus have dropped significantly in various modules in 2021. As for the record,

27 / Annual Report 2021

a total of 24 candidates of FELDA Plantation Management Sdn. Bhd. (formerly known as FELDA
Technoplant Sdn. Bhd.) has deferred their examination until further notice. For the period under
review, the LISP/AISP examinations were successfully conducted at the ISP head office in PJ,
Ladang Rakyat Terengganu Sdn. Bhd. (LRTSB), Terengganu, Well Blossom Sdn. Bhd., Lahad Datu
and Tradewinds Plantation Management Sdn. Bhd., Sibu.

At an individual level, 2 candidates have received the AISP award. The report includes information
on AISP candidates.

As part of the promotional initiatives, the LISP/AISP examination brochures were sent to members
via email and published in The Planter.

TES Publications
TES published two (2) new notes in 2021.
MODULE IV
1. Processing Plantation Crops: Oil Palm
2. Factory Management and Quality Assurance: Oil Palm

The following notes will be available in 2022:
1. MODULE III - Total Quality Management and Productivity
2. MODULE IV - Industrial Crops Practices - Part B [Crop Harvest and Post-Harvest Handling or

Primary Processing]: Coconut

I wish to thank the Chairman and Committee members of TES for their dedication and contributions.

ISPM Training Programmes

Short Courses

A total of twenty-seven (27) short courses had been conducted in 2021. All the trainings had been
conducted virtually via Zoom platform due to the prolonged MCO during the Covid-19 pandemic.

ISPM had collaborated with Institut Latihan FELDA, Trolak for eight (8) series of Managerial
Management Development Training (MMDT) from July to November 2021. It has benefited a total
of 172 participants ranging from Assistant Managers and newly promoted Managers in FELDA.

In addition, Department of Trade & Industry of Butuan, Philippines had appointed ISPM to deliver
one (1) virtual session of “Competency-Based Trainer’s Training for The Palm Oil Farmers” in
October 2021. This was an introductory training of Plantation Management and attended by 85
participants from various regions in the Philippines.

28 / Annual Report 2021

Details of the training and short courses conducted in 2021 as below:

No Short Course Mode Date No. of
participants

1 New Planting, Replanting & Cultivation of Oil Palm Online 19 - 20 January 2021 5
(Non-Planter Session)

2 Scheduled Waste Management in Plantation Online 21 January 2021 10

3 New Planting, Replanting & Cultivation of Oil Palm Online 26 - 27 January 2021 25
(Planter Session)

4 Recent Development in Labor Law in Plantation Online 19 February 2021 9

5 Design & Build Your KPIs: Practical Implementation in Online 22 - 23 February 13

Plantation 2021

6 MSPO Internal Auditor Training Online 2 - 3 March 2021 13

7 Best Practices for Maintenance of Immature Oil Palms Online 16 March 2021 33

8 Perfecting Managerial Talent Online 22 - 23 March 2021 16

9 ISCC: Overview & Requirement for Certification Online 24 March 2021 2

10 MSPO Internal Audit Program Online 5 - 6 July 2021 24

11 Perfecting Managerial Talent for Plantation Executive Online 13 July 2021 16
& Managers - 1st Series (inhouse for ILF) Online 26 July 2021 24

12 Pengurusan dan Amalan Ladang Kelapa Sawit

13 Perfecting Managerial Talent for Plantation Executive Online 11 - 12 August 2021 33
& Managers

14 Perfecting Managerial Talent for Plantation Executive Online 18 August 2021 24
& Managers - 2nd Series (inhouse for ILF)

15 Water Management in Plantation Online 23 - 24 August 2021 22

16 Water Management in Plantation (inhouse for Online 25 - 26 August 2021 16
FELCRA)

17 Perfecting Managerial Talent for Plantation Executive Online 14 September 2021 25
& Managers - 3rd Series (inhouse for ILF)

18 Perfecting Managerial Talent for Plantation Executive Online 28 September 2021 12
& Managers - 4th Series (inhouse for ILF)

19 Competency - Based Trainer’s Training for The Palm Online 11 - 15 October 2021 85
Oil Farmers (for DTI, Philippines)

20 Perfecting Managerial Talent for Plantation Executive Online 14 October 2021 23
& Managers - 5th Series (inhouse for ILF)

21 Process Improvement Framework in Plantation Online 26 - 27 October 2021 11

22 Estate Manager Leadership for High Performance - for Online 26 - 27 October 2021 32
Plantation Managers/Executives

23 Perfecting Managerial Talent for Plantation Executive Online 27 October 2021 27
& Managers - 6th Series (inhouse for ILF)

29 / Annual Report 2021

No Short Course Mode Date No. of
participants
24 Train the Trainer (inhouse for YPPH) Online 28 – 29 October
2021 27
25 Perfecting Managerial Talent for Plantation Executive
& Managers – 7th Series (inhouse for ILF) Online 23 November 2021 23

26 Perfecting Managerial Talent for Plantation Executive Online 30 November 2021 22
& Managers – 8th Series (inhouse for ILF)
Online 22 – 23 December 24
27 Estate Manager Leadership for High Performance - for 2021
Plantation Managers/Executives

Library/IT

i) Payment Gateway;
For ease of paying the ISP annual membership subscription, members are encouraged to pay

via JomPAY platform. Members/Vendors and the Public can also make their payment through
the e-Planter website portal using ToyyibPay for purchasing products or non-members
subscribing to the e-Planter at an annual subscription of RM240.00. Also, other means of
payment using e-Wallet is currently being looked into.

ii) Online Training;
External video camera MXL ACVC-360-Z WEBCAM and microphone for online training

and meeting due to Covid-19 pandemic lockdown was purchased at RM4,300/- on 6th May
2021.

Zoom Pro plans at RM65/- per month will be subscribed by ISP whenever, there is online
meetings, trainings, and other programmes for 30 hours with a limit of 1,000 participants.

iii) e-Planter website;
We have now come to a new milestone of e-Planter in our new website. The website is about

the digital format of ‘The Planter’ monthly magazine for members and advertisers. All the
features of the website have been completed and all the Staff involved have been trained. The
e-Planter website is tentatively scheduled to be launched at the end of April 2022.

The non-members can access the online e-Planter magazine if they have registered as a
subscriber through the e-Planter website. The fee is RM240/- per year. The e-Planter has been
sent to members/advertisers since January 2021 issue onwards.


ToyyibPay / Payment is one of the means in our e-Planter portal that enables customer to make

payment for subscribing to e-Planter or purchasing products.

iv) Members subscribing to the e-Planter Format survey;
To-date 318 members have opted for the e-Planter monthly magazine. We hope more members

will come on board to subscribe to e-Planter in the near future.

30 / Annual Report 2021

v) Online LISP / AISP Exam;
There is a suggestion from the Chairman of Technical Education Scheme to introduce online

LISP/AISP examinations and tutorials classes in the future.

vi) New IT Executive; ISP has recruited a new IT Executive En. Mohd Asri Ishak w.e.f 01/12/2021
to replace En.Mohd Rizal who had resigned as IT/Lib. Executive on 31/05/2021.

vii) The Planter ‘Abstract‘; The ‘Abstract’ of The Planter has been uploaded monthly in the ISP
website.

viii) Library Cataloging System;
On 26/11/2021, the IT/Lib. Committee had invited Prof. Dr. Mohd Ridwan Kamarulzaman

and En. Amzari from UiTM, Shah Alam to advice on the cataloging system. We look forward
to their proposals on how best we can further improve our ISP Library for the convenient
usage of our members.

Lastly but not the least, my sincere thanks to the Chairman and members of the Library/IT Committee
for their dedications and contributions.

Planters’ Act Committee (“PAC”)

We all are aware that in 2019 during its centenary celebration, ISP decided to have an Act drafted
for the benefit of Planters and plantation industry with a primary objective to protect the welfare,
rights, dignity and safeguard the Planters and to promote ethical standards of the plantation industry.
The Act sets to provide clear guidelines to the relevant authorities and others in ensuring compliance
within the legal framework.

With the guidance and assistance of a legal firm, the proposed Act was drafted and approved by the
Planters’ Act Committee and the ISP Board as well as at the 97th Annual General Meeting of ISP on
10 July 2021. The Act thereafter was presented and obtained full support from the Malaysian Palm Oil
Association (“MPOA”). Currently, ISP awaits endorsement from the Ministry of Plantation Industries
and Commodities of Malaysia before tabling in the Parliament. The proposed Act was presented to
YB Datuk Hajah Zuraidah Kamaruddin, Minister of Plantation Industries and Commodities on 13
January 2022 and further discussion was proposed to be held on 26 May 2022 with YBhg. Datuk
Ravi Muthayah, General Secretary of Plantation Industries and Commodities and his team.
There are various legislative process before being introduced as a bill into the Parliament.

Planters’ Act Committee consists of:

1. Ramesh a/l Veloo (Dr) (Chairman)
2. Daud Amatzin, PJN, AISP, FISP (Datuk)(Haji)
3. Mohamad Fadzil bin Hitam (Haji)
4. M Ramachandran a/l V. D. Nair, FISP
5. Mohamad Nageeb bin Ahmad Abdul Wahab (Datuk)
6. Mohd Ramzuz bin Mohd Rashid

I wish to thank the Chairman and Committee members of the Planters’ Act for their contributions.

31 / Annual Report 2021

ISP Education Fund Committee (“ISP-EF”)

The Incorporated Society of Planters (ISP) is committed to support and reward ISP members and
family members in acquiring knowledge and skills.

For this purpose, ISP continues to offer SCHOLARSHIP to children of ISP members-in-benefit
and student members’ children and staff’s children who have been offered tertiary education in any
recognised Malaysian institutions of higher learning and have enrolled in the following disciplines:
Plantation and Agriculture including Husbandry, Science, Technology, Engineering,
Mathematics and related courses through ISP-Education Fund.

The awarding of scholarships to students is to fund tertiary education and it shall be governed by a
set of criteria and conditions.

ISP also recognises Malaysian University graduates in the field of agriculture/plantation and related
field by awarding Academic Excellence Awards to high achievers’ who had been selected by their
respective Universities. In the current financial year, ISP had awarded Academic Excellence Awards
to high achievers’ from Universiti Putra Malaysia (UPM), UniversitI Malaysia Kelantan (UMK),
Universiti Teknologi Mara (UiTM), Jasin Campus, Melaka and Universiti Sains Malaysia (USM).

ISP similarly awards ISP members’ children who have obtained a minimum of 8 As in Sijil Pelajaran
Malaysia (SPM) examination or 3.00 Cumulative Grade Point Average (CGPA) in Sijil Tinggi
Persekolahan Malaysia (STPM) examination or A-Level or equivalent examinations by awarding
Excellence Awards as an incentive for the ISP members’ children to continue to excel to tertiary
level.

ISP had provided the following number of awards: -

Description No. of recipients Total Grant (RM)

Scholarships 2021 2020 2021 2020
Academic Excellence Awards
Excellence Awards 20 21,000.00 0.00

11 0 22,000.00 0.00

13 6 7,000.00 3,750.00

The ISP Academic Excellence Awards for 2020 were granted in 2021 due to the Movement Control
Order (MCO) and Conditional Movement Control Order (MCO).

ISP continues to provide the Scholarships, Academic Excellence Awards and Excellence Awards
yearly.

I wish to record my gratitude and thanks to YBhg. Dato’ Dr. Mohamad Hashim bin Ahmad Tajudin,
PJK, FISP, Chairman of the ISP Education Fund Committee and its members for their contribution,
inputs and support.

32 / Annual Report 2021

Branch Activities

The ISP Branches had faced challenges in organising activities for its members such as talks,
seminars and presentations due to the Covid-19 pandemic. Many Branch activities were postponed.
However, the Branch Annual General Meeting for the year 2021 was convened in compliance with
the Articles of Association of the ISP, either physically or via online platform with precautionary
measures taken as prescribed by the Government of Malaysia, the Ministry of Health, the Malaysian
National Security Council, and other relevant authorities in curbing the spread of Covid-19.

For the past two (2) years, not many Branches had organised activities for its members due to the
pandemic. Now with the Government easing the social restrictions to a certain extent and moving
towards adjustment to a “new normal”, I hope Branches will rise again to be active as previously. I
also hope the Branches will attract more new members.

I would like to take this opportunity to thank Chairmen of the following Branches for taking time
and efforts to go the extra mile in organising talks to enhance knowledge and skills of their Branch
members in the plantation industry in this challenging time:

Branch BRANCH ACTIVITIES 2021
Lower Perak Activities
• Mini Seminar on 6 April 2021 at Lower Perak Club, Teluk Intan, Perak
Selangor/Wilayah
Persekutuan Darul Ridzuan on “Cocoly Best Product for Ganoderma Management” by
South Terengganu/ Farmland Solutions Sdn Bhd.
East Pahang • Campaign to recruit new members and encourage defaulters to renew their
membership.

• Talks by G-Planter Sdn Bhd and FGV Agri Services Sdn Bhd on 11 April
2021 at Royal Pekan Golf Club, Pekan, Pahang Darul Makmur, followed
by STEP Golf Tournament 2021.

Last but not least, I also wish to thank Chairmen and members of the ISP Branches for their continuous
support and invaluable contributions.

ISP Management (M) Sdn Bhd (“ISPM”)
(Registration No. 199601039602 (411955-K)
2021 has been another challenging year for ISP Management (M) Sdn Bhd with the continuous
restrictions due to Covid-19 pandemic nationwide which has also impacted ISP as well. This
uncertainty has caused disruption to ISP/ISPM, mainly in organising short courses and with the
continuous postponement of 15th National Seminar which was scheduled to be held at Pullman Miri
Waterfront, Miri, Sarawak with the theme: Addressing Challenges in Plantation Management. Such
postponement from 13 - 15 July 2020 to 12 - 14 July 2021, thereafter postponed to 15 - 17 November
2021 has affected many parties.
It is good to know that despite the country’s tough economic conditions, preventive measures enforced
by the Government of Malaysia nationwide, training programmes and short courses were successfully
conducted either in-house or via online platform in-line with the market expectations to meet job-
specific knowledge and skills of its members. Among others, it covered the MSPO Internal

33 / Annual Report 2021

Audit Program, Perfecting Managerial Talent for Plantation Executive & Managers- 1st Series 1
(ILF), ‘Pengurusan dan Amalan Ladang Kelapa Sawit’, Perfecting Managerial Talent for Plantation
Executive & Managers- 2nd Series 2 (ILF), Water Management in Plantation, Perfecting Managerial
Talent for Plantation Executive & Managers- 2nd Series 3 (ILF), Perfecting Managerial Talent for
Plantation Executive & Managers-2nd Series 4 (ILF), Competency-Based Trainer’s Training for The
Palm Oil Farmers (DTI, Philippines), Managerial Management Development Training (MMDT) -
Siri 5 (ILF), Process Improvement Framework in Plantation, Estate Manager Leadership for High
Performance - for Plantation Managers/Executives and Managerial Management Development
Training (MMDT) - Siri 6 (ILF). With the new norm and moving with times, ISP Management (M)
Sdn Bhd plan to embrace digital transformation which would enhance agility and innovation in
response to current market trends and demands.
An advance from ISP of 1.5 Million was released in January 2016 to ISPM for the purchase of Suite
3A01, Level 3A, PJ Tower, Amcorp Trade Centre, 18 Persiaran Barat, 46050 Petaling Jaya,
Selangor Darul Ehsan which is to be paid within 20 years (RM75,000/year), effective from year
2018. We are proud to inform that ISPM had made its first repayment of RM75,000 (partial of the
advance payment of RM1.5million) to ISP on 3 September 2018, second payment of RM75,000 at
the 95th Annual General Meeting of the Society on 14 July 2019 and the third payment of RM75,000
was made on 28 December 2020. Due to the Covid-19 outbreak which had impacted the financial
standing of the Company, the Board of Directors of ISP Management (M) Sdn Bhd sought approval
from the ISP Board on 27 November 2021 to defer the repayment (RM75,000) for year 2021 to year
2022 and that the repayment for year 2021 and 2022 (total amount of settlement: RM150,000.00) be
made in year 2022. After due deliberation, the ISP Board unanimously approved that the repayment
(RM75,000) from ISPM for year 2021 to be deferred to year 2022 and that the repayment for year
2021 and 2022 (total amount of settlement: RM150,000.00) be made in year 2022.
Another milestone for ISPM is the collaborations with:
1) IRGA in organising a webinar on 18 November 2021; and
2) Department of Trade and Industry of the Government of the Republic of the Philippines (“DTI”) in

conducting a 5-day “Competency-Based Trainer’s Training for The Palm Oil Farmers” virtually.
ISPM also has established a Consultancy and Advisory Unit on 11 September 2020 to generate
revenue. With the planned activities in place, ISPM hope to do more under this new norm. However,
the consultancy work will only commerce once the Standard Operating Procedures (SOPs) are
prepared. The ISPM Board had proposed Dr Ramesh Veloo to prepare the SOPs.
With that note, I wish to thank the Chairman, Tuan Haji Mohamad Fadzil Hitam and the Board of
Directors of ISPM for the term 2019-2021 for their concerted efforts and contributions. Thanking
them once again for continuing the office of Chairmanship and members of the ISPM Board for
the term 2021-2023. I also wish to thank those newly appointed members of the Board for the term
2021-2023.

THE PLANTERS’ BENEVOLENT TRUST OF MALAYSIA (“PBTM”)
(Registered Trustees)

The Planters’ Benevolent Trust of Malaysia (“PBTM”) (Registered Trustees) was set up with the
objective of helping planters who have fallen on hard times. To this end, The Planters’ Benevolent
Trust of Malaysia was established in 1971, under Trustees (Incorporation) Ordinance, 1952 with the

34 / Annual Report 2021

OBJECTIVE of relieving necessitous* persons who are or have been employed in an executive or
managerial capacity in an enterprise within the Malaysian plantation industry and the wives, widows
and children of such persons.

It must be emphasised that the Trust exists to help planters and their dependants in times of need.
The Trust provides grants and allowances to necessitous persons and these are approved after careful
scrutiny of the circumstances of the applicant: The Trustees must be satisfied that all potential recipients
of the grants and allowances are in genuine difficulties, whether of temporary or long-term nature. The
operative word here is NECESSITOUS, meaning in dire need of financial assistance.

The Trust is administered under a Trust Deed by an independent Board of Trustees, consisting of
representatives from the plantation industry appointed by the Malaysian Palm OilAssociation (“MPOA”)
and The Incorporated Society of Planters (“ISP”) under the Chairmanship of an independent party. The
list of the Board of Trustees can be found in the report.

The Honorary Secretary and Honorary Treasurer are responsible of the day-to-day running of the
Trust and its financial affairs, both functions currently performed by The Incorporated Society
of Planters (“ISP”).

ELIGIBILITY: Necessitous persons who are or have been employed in an executive or
managerial capacity in an enterprise within the Malaysian plantation industry
and the wives, widows and children of such persons.

NECESSITOUS: In dire need of financial help.

At present, PBTM is providing financial assistance to the following recipients:

No. Recipient Financial Festive Bonus Duration
Assistance for the Year (subject to review
Granted (RM) (RM)
thereafter)

1 NAHAR 1,200.00 1,200.00 November 2020 - October
PARANSOTHI ABDULLAH (Hari Raya) 2021 (One year)

2 SUSILA DEVI A/P 1,200.00 1,200.00 February 2021 - January
BHASKARAN NAIR (Deepavali) 2022 (One year)

PBTM shall continue providing support to those who are genuinely seeking for financial assistance.

My heartfelt thank you and appreciation to the Chairman and Board of Trustees for their time and
support.

Wishing everyone all the best in their future endeavors.

DAUD AMATZIN, PJN, AISP, FISP (DATUK) (HAJI)
Chairman, ISP

35 / Annual Report 2021

REPORTS AND FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED
31 DECEMBER 2021

Directors’ Report 37-40
Financial Statements
Statement of Financial Position 41
Statement of Comprehensive Income 42
Statement of Changes in Equity 43-44
Statement of Cash Flows 45-46
Notes to the Financial Statements 47-88
Statement by Directors 89
Statutory Declaration 90
Independent Auditors’ Report 91-93

36 / Annual Report 2021

DIRECTORS’ REPORT

The directors hereby submit their report together with the audited financial statements of the Group
and of the Company for the financial year ended 31 December 2021.

PRINCIPAL ACTIVITIES

The principal activities of the Company are to develop and enhance the professional interests of
those involved directly or indirectly in the plantation industry, including the publication of books
on agriculture, conducting professional examinations associated with the plantation industry and the
review of the terms and conditions of employment of its members. The principal activities of the
subsidiary are stated in Note 6 to the financial statements.

There have been no significant changes in the nature of these principal activities during the financial
year.

RESULTS Group Company
RM RM


Net (loss)/profit for the financial year (272,986) 324,043

DIVIDENDS

In accordance with the Memorandum of Association of the Company, no portion of the profit or
thereof shall be paid by way of dividends to the members.

RESERVES OR PROVISIONS

There were no material transfers to or from reserves or provisions during the financial year.

BAD AND DOUBTFUL DEBTS

Before the financial statements of the Group and of the Company were prepared, the directors took
reasonable steps to ascertain that action had been taken in relation to the writing off of bad debts and
the making of allowance for doubtful debts and had satisfied themselves that there were no known
bad debts to be written off nor any allowance need to be made for doubtful debts.

At the date of this report, the directors are not aware of any circumstances which would render
the amount written off for bad debts or the amount of allowance for doubtful debts in the financial
statements of the Group and of the Company inadequate to any substantial extent.

CURRENT ASSETS

Before the financial statements of the Group and of the Company were prepared, the directors took
reasonable steps to ensure that any current assets which were unlikely to be realised in the ordinary
course of business including their values as shown in the accounting records of the Group and of the
Company had been written down to an amount that they might be expected so to realise.

37 / Annual Report 2021

At the date of this report, the directors are not aware of any circumstances that would render the
values attributed to the current assets in the financial statements of the Group and of the Company
misleading.

VALUATION METHODS

At the date of this report, the directors are not aware of any circumstances which have arisen which
render adherence to the existing method of valuation of assets or liabilities of the Group and of the
Company misleading or inappropriate.

CONTINGENT AND OTHER LIABILITIES

At the date of this report, there does not exist:

(i) any charge on the assets of the Group and of the Company which has arisen since the end of
the financial year which secures the liabilities of any other person; and

(ii) any contingent liabilities in respect of the Group and of the Company which has arisen since
the end of the financial year.

In the opinion of the directors, no contingent or other liability of the Group and of the Company has
become enforceable, or is likely to become enforceable, within the period of twelve months after the
end of the financial year which will or may affect the ability of the Group and of the Company to meet
their obligations as and when they fall due.

CHANGE OF CIRCUMSTANCES

At the date of this report, the directors are not aware of any circumstances not otherwise dealt with
in this report or the financial statements of the Group and of the Company which would render any
amount stated in the financial statements misleading.

ITEMS OF MATERIAL AND UNUSUAL NATURE

In the opinion of the directors,

(i) the results of the operations of the Group and of the Company for the financial year were not
substantially affected by any item, transaction or event of a material and unusual nature; and

(ii) no item, transaction or event of a material and unusual nature has arisen in the interval between
the end of the financial year and the date of this report which is likely to affect substantially the
results of the operations of the Group and of the Company for the financial year in which this
report is made.

38 / Annual Report 2021

DIRECTORS

The directors in office during the financial year and during the period from the end of the financial
year to the date of the report are:

Daud Amatzin, PJN, AISP, FISP (Datuk) (Haji)* (Chairman)

Mohamad Fadzil bin Hitam (Haji)*

Alan Khoo Choom Kwong

Aiwan Shah bin Asagena (Appointed on 14 March 2022)

Chang Ah Kow (Retired on 10 July 2021)

Chen Chu Chai @ Anthony Tsen Sui Lin, AISP, FISP*

Gin Kau Ngo @ Wee Kow Ngoh, AISP, FISP*

Gopala Krishnan a/l V. Renganathan

Govindasamy a/l Munisamy

GS. Abdul Kadir bin Mahasir (Appointed on 14 March 2022)

Haziri bin Ramli (Retired on 10 July 2021)

Jayaraman @ J Raman a/l Permalu

Joshua Mathews* (Appointed on 14 March 2022)

Ling Chia Yi

M. Ramachandran a/l V D Nair, KMN, FISP, FBIM, FMIM, FMOSTA*

Mazalan bin Kamis

Mohamad Hashim bin Ahmad Tajudin, PJK, FISP (Dato’ Dr)*

Mohd Faizal bin Halim (Appointed on 14 March 2022)

Mohd Karim Chang @ Chang Ka Hing

Mohd Roslan bin Mohd Din*

Mohd Sabre bin Salim*

Mohd Sahir bin Yaacub*

Mohd Zukri bin Mamat

Napolean Anak Royal Ningkos*

Nik Rauzi bin Che Ya @ Nik Halim, LISP*

Nor Arizal bin Abdul Azmi (Appointed on 17 February 2021)

Pushparajah a/l Eliathamby, FISP (Dr)* (Retired on 11 September 2021)

Ramesh a/l Veloo (Dr)*

Suhaimi bin Harun (Appointed on 17 February 2021)

(Retired on 10 July 2021)

*Directors of the Company and its subsidiary

DIRECTORS’ INTERESTS

None of the directors in office at the end of the financial year had any interest in shares of the
Company and its related corporations during the financial year.

DIRECTORS’ BENEFITS

Since the end of the previous financial year, no director of the Company has received or become
entitled to receive a benefit by reason of a contract made by the Company or a related corporation
with the director or with a firm of which the director is a member, or with a company in which the
director has a substantial financial interest.

39 / Annual Report 2021

Neither during, nor at the end of the financial year, was the Company a party to any arrangements
where the object is to enable the directors to acquire benefits by means of the acquisition of shares in,
or debentures of the Company or any other body corporate.
SUBSIDIARY
The details of the Company’s subsidiary are disclosed in Note 6 to the financial statements.
The available auditors’ report on the accounts of the subsidiary did not contain any qualification.
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR AND SIGNIFICANT EVENTS
SUBSEQUENT TO THE END OF THE FINANCIAL YEAR
Details of significant events during the year and subsequent to the end of the financial year are
disclosed in Note 23 to the financial statements.
AUDITORS
The auditors, Messrs Baker Tilly Monteiro Heng PLT, have expressed their willingness to continue
in office.
The details of the auditors’ remuneration are disclosed in Note 18 to the financial statements.
The Company has agreed to indemnify the auditors of the Company as permitted under Section 289
of the Companies Act 2016 in Malaysia.
This report was approved and signed on behalf of the Board of Directors in accordance with a
resolution of the directors:

…………..……………………………………….
DATUK HAJI DAUD HAJI AMATZIN, PJN, AISP, FISP
Director

…………..……………………………………….
M. RAMACHANDRAN A/L V D NAIR, KMN, FISP, FBIM, FMIM, FMOSTA
Director
Kuala Lumpur
Date: 25 April 2022

40 / Annual Report 2021

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

Group Company

2021 2020 2021 2020

Note RM RM RM RM

ASSETS

Non-current assets

Property, plant and equipment 5 2,659,827 2,766,752 373,285 378,723

Investment in a subsidiary 6 - - 1,275,002 1,275,002

Total non-current assets 2,659,827 2,766,752 1,648,287 1,653,725


Current assets

Inventories 7 180,362 180,780 - -

Trade and other receivables 8 369,472 214,307 889,541 456,044

Tax recoverable 20,104 9,409 3,656 199

Fixed deposits placed

with licensed banks 9 4,826,342 5,135,986 4,776,342 5,135,986

Cash and bank balances 153,652 159,805 77,558 59,628

Total current assets 5,549,932 5,700,287 5,747,097 5,651,857

TOTAL ASSETS 8,209,759 8,467,039 7,395,384 7,305,582



ACCUMULATED FUNDS
AND LIABILITIES

Accumulated funds

Accumulated profit 5,648,802 5,921,788 5,575,128 5,251,085

Branch funds 10 474,411 472,958 474,411 472,958

Other funds 11 931,527 1,020,712 1,001,527 1,090,712

R. T. Griffiths memorial fund 12 266,492 266,217 266,492 266,217

Total accumulated funds 7,321,232 7,681,675 7,317,558 7,080,972


Non-current liability

Deferred tax liabilities 13 - - - -

Total non-current liability - - - -

Current liabilities

Trade and other payables 14 259,476 314,497 64,134 100,889
629,051 470,867 13,692 123,721
Contract liabilities 15
- - - -
Tax payable

Total current liabilities 888,527 785,364 77,826 224,610

TOTAL LIABILITIES 888,527 785,364 77,826 224,610

TOTAL ACCUMULATED FUNDS

AND LIABILITIES 8,209,759 8,467,039 7,395,384 7,305,582


The acco mpanyi ng notes form an integral part of these financial statements.

41 / Annual Report 2021

STATEMENTS OF COMPREHENSIVE INCOME FOR THE
FINANCIAL YEAR ENDED 31 DECEMBER 2021

Group Company

2021 2020 2021 2020

Note RM RM RM RM

Revenue 16 1,449,902 1,473,975 604,471 730,900

Cost of sales 17 (483,203) (504,156) (47,403) (76,699)

Gross Profit 966,699 969,819 557,068 654,201



Other operating income 290,422 300,118 260,048 288,458

Administrative expenses (1,488,762) (1,591,749) (451,728) (460,401)

(Loss)/Profit before tax 18 (231,641) (321,812) 365,388 482,258



Income tax expense 19 (41,345) (3,128) (41,345) (41,123)

(Loss)/Profit for the financial year (272,986) (324,940) 324,043 441,135





Other comprehensive income,

net of tax - - - -



Total comprehensive (loss)/income

for the financial year (272,986) (324,940) 324,043 441,135

The accompanying notes form an integral part of these financial statements.
42 / Annual Report 2021

STATEMENTS OF CHANGES IN EQUITY FOR THE
FINANCIAL YEAR ENDED 31 DECEMBER 2021

Accumulated Branch Other R. T. Griffiths Total

profit funds funds memorial fund accumulated

funds

Group Notes RM RM RM RM RM



43 / Annual Report 2020 At 1 January 2020 6,246,728 485,122 1,190,175 255,996 8,178,021



Total comprehensive loss (324,940) - - - (324,940)

for the financial year



Net funds movement 10, 11, 12 - (12,164) (169,463) 10,221 (171,406)



At 31 December 2020 5,921,788 472,958 1,020,712 266,217 7,681,675



Total comprehensive loss (272,986) - - - (272,986)

for the financial year



Net funds movement 10, 11, 12 - 1,453 (89,185) 275 (87,457)



At 31 December 2021 5,648,802 474,411 931,527 266,492 7,321,232




The accompanying notes form an integral part of these financial statements.

STATEMENTS OF CHANGES IN EQUITY FOR THE
FINANCIAL YEAR ENDED 31 DECEMBER 2021 (CONTINUED)

Accumulated Branch Other R. T. Griffiths Total

profit funds funds memorial fund accumulated

funds

Company Notes RM RM RM RM RM



44 / Annual Report 2020 At 1 January 2020 4,809,950 485,122 1,260,175 255,996 6,811,243



Total comprehensive income 441,135 - - - 441,135

for the financial year



Net funds movement 10, 11, 12 - (12,164) (169,463) 10,221 (171,406)



At 31 December 2020 5,251,085 472,958 1,090,712 266,217 7,080,972



Total comprehensive income 324,043 - - - 324,043

for the financial year



Net funds movement 10, 11, 12 - 1,453 (89,185) 275 (87,457)



At 31 December 2021 5,575,128 474,411 1,001,527 266,492 7,317,558





The accompanying notes form an integral part of these financial statements.

STATEMENT OF CASH FLOWS FOR THE
FINANCIAL YEAR ENDED 31 DECEMBER 2021

Group Company
2021 2020 2021 2020
RM RM RM RM

CASH FLOWS FROM OPERATING ACTIVITIES:

(Loss)/Profit before tax (231,641) (321,812) 365,388 482,258



Adjustments for:

Depreciation 122,824 161,363 8,887 8,294

Interest income (65,018) (122,333) (65,018) (114,673)

Operating (loss)/profit before changes

in working capital (173,835) (282,782) 309,257 375,879

Changes in working capital:

Inventories 418 10,603 - -

Receivables (155,165) 124,951 23,678 (170,712)

Payables (55,021) (74,369) (36,755) 15,076

Contract liabilities 158,184 313,656 (110,029) 8,871

Net cash (used in)/generated from (225,419) 92,059 186,151 229,114
operations
Tax paid (52,039) (65,273) (44,801) (46,745)

Net cash (used in)/generated from

operating activities (277,458) 26,786 141,350 182,369



CASH FLOWS FROM INVESTING ACTIVITIES:

Interest received 65,018 122,333 65,018 114,673
Purchase of property, plant (15,900) - (3,450) -

and equipment

Net cash generated from 49,118 122,333 61,568 114,673
investing activities

45 / Annual Report 2021
The accompanying notes form an integral part of these financial statements.

STATEMENT OF CASH FLOWS FOR THE FINANCIAL
YEAR ENDED 31 DECEMBER 2021 (CONTINUED)

Group Company
2021 2020 2021 2020
RM RM RM RM

CASH FLOWS FROM FINANCING ACTIVITIES:

Branch funds 1,453 (12,164) 1,453 (12,164)

Other funds (89,185) (169,463) (89,185) (169,463)

R.T. Griffiths memorial fund 275 10,221 275 10,221

(Decrease)/Increase in amount owing by

subsidiary - - (457,175) 75,000



Net cash (used in)/generated from

financing activities (87,457) (171,406) (544,632) (96,406)

NET CHANGE IN CASH AND

CASH EQUIVALENTS (315,797) (22,287) (341,714) 200,636
4,974,978
CASH AND CASH EQUIVALENTS AT

THE BEGINNING OF THE

FINANCIAL YEAR 5,275,791 5,298,078 5,175,614

CASH AND CASH EQUIVALENTS AT
THE END OF THE FINANCIAL YEAR 4,959,994 5,275,791 4,833,900 5,175,614


ANALYSIS OF CASH AND CASH EQUIVALENTS:

Cash and bank balances 153,652 159,805 77,558 59,628
Fixed deposits placed with
licensed banks 4,826,342 5,135,986 4,776,342 5,135,986
4,979,994 5,295,791 4,853,900 5,195,614

Less: Pledged deposits (20,000) (20,000) (20,000) (20,000)

4,959,994 5,275,791 4,833,900 5,175,614


The accompanying notes form an integral part of these financial statements.
46 / Annual Report 2021

NOTES TO THE FINANCIAL STATEMENTS

1. CORPORATE INFORMATION

The Company is a company limited by guarantee, incorporated and domiciled in Malaysia.

The registered office and principal place of business of the Company are located at Suite 3A01,
Level 3A, PJ Tower, Amcorp Trade Centre, 18 Persiaran Barat, 46050 Petaling Jaya, Selangor
Darul Ehsan, Malaysia.

The principal activities of the Company are to develop and enhance the professional interests
of those involved directly or indirectly in the plantation industry, including the publication
of books on agriculture, conducting professional examinations associated with the plantation
industry and the review of the terms and conditions of employment of its members. The
principal activities of the subsidiary are stated in Note 6 to the financial statements.

There have been no significant changes in the nature of these principal activities during the
financial year.

The financial statements were authorised for issue by the Board of Directors in accordance
with a resolution of the directors on 25 April 2022.

2. BASIS OF PREPARATION

2.1 Statement of compliance

The financial statements of the Group and of the Company have been prepared in
accordance with the Malaysian Financial Reporting Standards (“MFRSs”), International
Financial Reporting Standards and the requirements of the Companies Act 2016 in
Malaysia.

2.2 Adoption of amendments/improvements to MFRSs

The Group and the Company have adopted the following amendments/improvements to
MFRSs for the current financial year:

Amendments/Improvements to MFRSs
MFRS 4 Insurance Contracts
MFRS 7 Financial Instruments: Disclosures
MFRS 9 Financial Instruments
MFRS 16 Leases
MFRS 139 Financial Instruments: Recognition and Measurement

The adoption of the above amendments/improvements to MFRSs did not have any
significant effect on the financial statements of the Group and of the Company and did
not result in significant changes to the Group’s and the Company’s existing accounting
policies.

47 / Annual Report 2021

2.3 New MFRS, and amendments/improvements to MFRSs that have been issued, but
yet to be effective

The Group and the Company have not adopted the following new MFRS, and
amendments/improvements to MFRSs that have been issued, but yet to be effective:

New MFRSs Effective for
MFRS 17 Insurance Contracts financial periods
beginning on or after
Amendments/Improvements to MFRSs
MFRS 1 First-time Adoption of Malaysian Financial 1 January 2023
Reporting Standards
MFRS 3 Business Combinations 1 January 2022^/
1 January 2023#
MFRS 5 Non-current Assets Held for Sale and 1 January 2022/
Discontinued Operations 1 January 2023#
MFRS 7 Financial Instruments: Disclosures 1 January 2023#
MFRS 9 Financial Instruments
1 January 2023#
MFRS 10 Consolidated Financial Statements 1 January 2022^/
MFRS 15 Revenue from Contracts with Customers 1 January 2023#
MFRS 16 Leases
Deferred
MFRS 17 Insurance Contracts 1 January 2023#
MFRS 101 Presentation of Financial Statements
1 April 2021/
MFRS 107 Statements of Cash Flows 1 January 2022^
MFRS 108 Accounting Policies, Changes in Accounting 1 January 2023
Estimates and Errors 1 January 2023/
MFRS 112 Income Taxes 1 January 2023#
MFRS 116 Property, Plant and Equipment 1 January 2023#
1 January 2023
MFRS 119 Employee Benefits
MFRS 128 Investments in Associates and Joint Ventures 1 January 2023
1 January 2022/
MFRS 132 Financial Instruments: Presentation 1 January 2023#
MFRS 136 Impairment of Assets 1 January 2023#
MFRS 137 Provisions, Contingent Liabilities and
Contingent Assets Deferred/
MFRS 138 Intangible Assets 1 January 2023#
MFRS 140 Investment Property 1 January 2023#
MFRS 141 Agriculture 1 January 2023#
1 January 2022/
1 January 2023#
1 January 2023#
1 January 2023#
1 January 2022^

^The Annual Improvements to MFRS Standards 2018-2020
# Amendments as to the consequence of effective of MFRS 17 Insurance Contracts

48 / Annual Report 2021