Zahid cautions FRIM Inc against over-diversification

02 Feb 2018 / 14:38 H.

KUALA LUMPUR: Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi (pix) today officially launched FRIM Inc, a subsidiary of the Forest Research Institute of Malaysia, and advised it against deviating from its core business.
He said the management of FRIM Inc should not just consider personal interests by creating multiple investment branches for profit.
"Do not over-diversify beyond the core business. I do not want FRIM Inc to put up hotels or buy hotels abroad. I am not referring to any organisation, but do not do that. This is the problem when people become greedy in the personal interest," he said at the event.
Also present were Natural Resources and Environment Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar, ministry secretary-general and FRIM chairman Datuk Seri Azizan Ahmad and FRIM director-general Datuk Dr Abd Latif Mohmod.
FRIM Inc was established to develop research findings in the forestry sector and enable FRIM to generate its own income through the commercialisation of its research and development products.
FRIM Inc, which was established on Aug 4 last year, started its business transactions in early December last year and has so far forged collaboration with more than 10 companies and agencies to the tune of over RM800,000.
Ahmad Zahid said the company should focus on commercialising herbal and organic products globally.
He said the research and development undertaken by FRIM and FRIM Inc should be translated into revenue-generating efforts.
He also said that it was hoped that the Finance Ministry would not deposit the revenue of FRIM Inc into a consolidated account so as to enable the company to carry out its activities on its own.
​​​​​​​Ahmad Zahid also said that the government was committed to expanding the green areas in the country through reafforestation.
He said 54.1% of Malaysia was covered with forest even though the country was often accused of felling trees.
"The international community, especially in the European countries, often accuses us of cutting down our forests to claim land for agriculture when our country has much more forest compared to those countries," he said.
At the event, Azizan announced two species of plants found on limestone outcrops that have been named after Ahmad Zahid and Wan Junaidi – Gymnostachyum ahmadzahidianum found in Kelantan and Impatiens feonajunaidiana found in Perlis. — Bernama

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