IOI Corporation Berhad (IOI) is engaged in the cultivation of oil palm and processing of palm oil with operations in seed breeding, cultivation and crop oil extraction. Today, we have 96 estates, 15 palm oil mills, and four research and development (R&D) centres across Malaysia and Indonesia, with a workforce about 25,000.
Our current total planted area (including subsidiary companies) stands at 178,105 hectares (ha) (FY2020: 178,068 ha) and our associate companies stand at 137,251 ha (as at 30 June 2021). Our total planted area is 99% oil palm, which 81% of it are classified as mature. The weighted average palm age is 13.5 years.
As part of our diversification strategy, we are exploring the potential of other crops to be planted. We have planted a total of 40 ha of coconuts, 10 ha of kenaf and 40 ha of pineapples in FY2021. We are also expanding our coconut business and targets to plant 5,000 ha of coconuts in the next four years. Furthermore, we have also established a seed garden to ensure sufficient planting materials on-hand.
In addition, IOI also owns a 32.1% stake in Bumitama Agri Ltd (BAL), a listed company on the Singapore Stock Exchange (SGX).
On our continuous and long-term sustainability efforts, please click here for more information.
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