[{"data":1,"prerenderedAt":4019},["ShallowReactive",2],{"news":3,"/api/news/949":3993,"news-prefooter":4001},[4,29,47,67,85,103,121,142,161,180,199,217,235,255,273,293,311,330,350,367,386,404,422,437,458,475,491,506,521,538,554,575,592,610,630,651,667,684,706,727,747,764,783,802,820,837,854,870,886,901,917,932,949,964,978,996,1014,1028,1044,1060,1074,1090,1107,1123,1141,1156,1171,1187,1201,1220,1236,1251,1267,1284,1297,1313,1326,1341,1355,1370,1384,1399,1414,1428,1442,1457,1471,1486,1500,1515,1527,1542,1555,1569,1583,1597,1611,1625,1639,1653,1666,1680,1695,1712,1725,1738,1755,1770,1785,1799,1815,1828,1842,1857,1871,1887,1902,1918,1933,1948,1964,1981,1997,2013,2028,2040,2056,2070,2087,2103,2118,2130,2143,2159,2174,2190,2204,2215,2230,2246,2260,2271,2285,2301,2312,2324,2340,2354,2366,2379,2389,2405,2418,2429,2444,2459,2473,2489,2500,2514,2525,2540,2554,2567,2578,2590,2605,2619,2630,2640,2652,2665,2676,2686,2701,2713,2726,2740,2754,2770,2785,2800,2814,2825,2838,2849,2862,2872,2887,2902,2916,2929,2943,2957,2968,2984,2999,3013,3028,3043,3058,3070,3081,3096,3111,3123,3133,3148,3163,3178,3192,3204,3216,3227,3238,3250,3264,3276,3287,3302,3316,3328,3340,3354,3364,3374,3385,3399,3414,3429,3443,3454,3466,3477,3488,3499,3510,3520,3530,3543,3554,3565,3579,3589,3601,3612,3622,3632,3644,3655,3665,3676,3685,3694,3706,3718,3728,3740,3749,3762,3774,3787,3799,3808,3817,3827,3836,3850,3863,3877,3891,3905,3918,3928,3938,3948,3957,3968,3979],{"id":5,"title":6,"date":7,"body":8,"source":9,"type":12,"image":16,"highlight_image":19,"published":22,"is_featured":22,"updated_at":23,"created_at":23,"content_type":24,"related_news":25,"metatag":26},949,"Crude palm oil prices resilience poised to lift IOI Corp’s outlook","2026-05-04T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/qNajYQIPkJCdY6fqjZAYEGhUWKU0ciP7Un3HTwyo.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>(File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>PETALING JAYA: Crude palm oil (CPO) prices, while heavily tied to geopolitical outcomes, are likely to remain resilient even in a “forever peace” scenario, benefitting integrated plantation group IOI Corp Bhd.\u003C/p>\u003Cp>In a note, RHB Research has maintained a “buy” call on IOI Corp, with a revised target price of RM5.35 a share, up from RM4.85 previously.\u003C/p>\u003Cp>It said that assuming the Middle East tensions ease, higher biodiesel mandates remaining in place would result in tighter overall supplies of vegetable oils globally, with stock to usage ratios expected to drop below historical averages.\u003C/p>\u003Cp>RHB Research noted the correlation between CPO prices and crude oil prices has moderated to 0.75 times from a high of 0.9 times at the start of the United States/Israel-Iran war.\u003C/p>\u003Cp>Subsequently, palm oil-gas oil (Pogo) spread has turned positive again, with CPO trading at a small premium of US$11.70 per barrel.\u003C/p>\u003Cp>“At the current Pogo spread, we estimate there will still be enough money in Indonesia’s biodiesel fund to subsidise B50 at current export tax and levy rates,” it said.\u003C/p>\u003Cp>The research house said there is also a possibility of discretionary biodiesel demand of three million tonnes per annum returning if the Pogo spread turns negative.\u003C/p>\u003Cp>“Assuming our base case scenario that the ceasefire will persist beyond two weeks with no further escalation, we believe CPO prices should settle at RM4,200-RM4,500 per tonne,” it added.\u003C/p>\u003Cp>“At these levels, the pogo spread would likely still be relatively thin, meaning increased biodiesel mandates should still be feasible.”\u003C/p>\u003Cp>RHB Research also highlighted that the probability of a strong El Nino peaks at 51% for November 2026 to January 2027, which could signal decreased palm oil supply.\u003C/p>\u003Cp>The research house has raised its CPO price assumptions from RM4,250 to RM4,400 per tonne for 2026 and RM4,100 to RM4,300 per tonne for 2027.\u003C/p>\u003Cp>It has also lifted IOI Corp’s earnings forecasts for the financial years 2026, 2027, and 2028 by 6.4%, 14.5% and 14.5%, after adjusting for the latest in-house foreign exchange assumptions.\u003C/p>",{"id":10,"name":11},6,"The Star",[13],{"id":14,"name":15},1,"Headline News",{"name":17,"file_name":17,"url":18},"Organic.jpg","https://www.ioigroup.com/storage/2843/Organic.jpg",{"name":20,"file_name":20,"url":21},"OrganicLarge.jpg","https://www.ioigroup.com/storage/2844/OrganicLarge.jpg",true,"2026-05-04T04:44:14.000000Z","News",[],{"meta_title":6,"meta_description":27,"meta_keywords":28},"(File pic by IOI Corporation).PETALING JAYA: Crude palm oil (CPO) prices, while heavily tied to geopolitical outcomes, are likely to remain resilient...",null,{"id":30,"title":31,"date":32,"body":33,"source":34,"type":35,"image":37,"highlight_image":40,"published":22,"is_featured":22,"updated_at":43,"created_at":43,"content_type":24,"related_news":44,"metatag":45},948,"IOI Corp earnings set to rise from recovery","2026-03-19T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/XlUKlO5MRjK0FjWFkglik8ONYqwUfzvMw8HcaZ5f.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>The group is positioning itself to benefit from both operational recovery and diversification beyond its traditional palm oil base. (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>PETALING JAYA: Prospects for IOI Corp Bhd are set to strengthen over the coming years, driven by rising plantation productivity, resilient downstream demand and a pipeline of new growth initiatives that could enhance earnings visibility.\u003C/p>\u003Cp>The group is positioning itself to benefit from both operational recovery and diversification beyond its traditional palm oil base.\u003C/p>\u003Cp>Phillip Capital Research expects these drivers to support a firmer earnings trajectory despite near-term volatility in production.\u003C/p>\u003Cp>“We are positive on IOI’s long-term prospects, underpinned by improving plantation productivity, resilient speciality fats margins and emerging growth drivers that enhance earnings visibility,” the research house said.\u003C/p>\u003Cp>It highlighted that the company’s accelerated replanting programme is beginning to deliver tangible gains, with stronger fresh fruit bunch (FFB) yields and oil extraction rates supporting output growth and gradual cost normalisation.\u003C/p>\u003Cp>Earnings for financial year ending June 30, 2026 (FY26) are projected to rise 16% year-on-year (y-o-y), underpinned by a 5% to 8% increase in FFB production as younger palms mature.\u003C/p>\u003Cp>This development is expected to drive operating leverage and reduce unit costs.\u003C/p>\u003Cp>Downstream operations remain steady, supported by consistent demand for speciality fats, although margins are likely to ease from previously elevated levels, according to Phillip Capital Research.\u003C/p>\u003Cp>It added that expansion plans will further underpin growth, stating: “Ongoing expansion of the ester plant in Penang and speciality fats capacity is expected to further lift contributions.”\u003C/p>\u003Cp>“Additional upside could stem from its integrated coconut venture, with operations targeted by early 2028, alongside innovation initiatives and circular economy projects,” it said, noting these efforts should support a more diversified earnings base beyond its core palm oil operations, reinforcing longer-term growth trajectory.\u003C/p>\u003Cp>The research house reiterated its “buy” call on the stock with a target price of RM4.57, based on 21 times calendar year 2026 estimated price-to-earnings ratio.\u003C/p>\u003Cp>While FY26 and FY27 forecasts were maintained, FY28 earnings per share were raised by 2% to 21.1 sen to reflect stronger crude palm oil production and new growth contributions.\u003C/p>\u003Cp>Operationally, plantation performance has shown marked improvement.\u003C/p>\u003Cp>In the first half of FY26, FFB production rose about 8% y-o-y to 1.65 million tonnes, while yields climbed roughly 13% to 12.26 tonnes per hectare.\u003C/p>\u003Cp>This has translated into cost efficiencies, with production cost declining to RM1,894 per tonne, supported by improved output and lower fertiliser prices.\u003C/p>\u003Cp>However, near-term production may face seasonal and weather-related pressures.\u003C/p>\u003Cp>Management indicated February 2026 output could fall around 20% month-on-month due to low-crop conditions and heavy rainfall, particularly in Sabah.\u003C/p>\u003Cp>Recovery is expected from March onwards, with improvements likely to extend into the fourth quarter of FY26.\u003C/p>\u003Cp>Meanwhile, one analyst said IOI’s medium-term growth prospects appear stable.\u003C/p>\u003Cp>He explained: “The group’s ability to keep cost broadly stable while navigating downstream margin pressures and gradually unlocking new capacity could position it for more resilient earnings expansion over the next few years.”\u003C/p>",{"id":10,"name":11},[36],{"id":14,"name":15},{"name":38,"file_name":38,"url":39},"Office.jpg","https://www.ioigroup.com/storage/2812/Office.jpg",{"name":41,"file_name":41,"url":42},"OfficeLarge.jpg","https://www.ioigroup.com/storage/2813/OfficeLarge.jpg","2026-04-01T03:49:12.000000Z",[],{"meta_title":31,"meta_description":46,"meta_keywords":28},"The group is positioning itself to benefit from both operational recovery and diversification beyond its traditional palm oil base. (File pic by IOI C...",{"id":48,"title":49,"date":50,"body":51,"source":52,"type":55,"image":57,"highlight_image":60,"published":22,"is_featured":22,"updated_at":63,"created_at":63,"content_type":24,"related_news":64,"metatag":65},947,"IOI Corp targets higher-margin palm oil products, FFB production, says PublicInvest","2026-03-05T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/czBeEi2yWZcJTPMk0OPHDttbz26hly323BSOjKFV.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>IOI Corp Bhd is expanding into higher-margin palm oil products while expecting fresh fruit bunch (FFB) production to grow by five to eight per cent in financial year 2026. (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>KUALA LUMPUR: IOI Corp Bhd is expanding into higher-margin palm oil products while expecting fresh fruit bunch (FFB) production to grow by five to eight per cent in financial year 2026 (FY26), according to Public Investment Bank Bhd (PublicInvest).\u003C/p>\u003Cp>Following an analyst briefing, the firm said the plantation group aims to increase its exposure to value-added crude palm oil (CPO) products to offset weak refining margins and volatility in palm oil prices.\u003C/p>\u003Cp>The move comes as the company's upstream plantation segment is expected to remain resilient, while its downstream business continues to face a challenging outlook.\u003C/p>\u003Cp>PublicInvest has maintained a \"Neutral\" call on the stock with an unchanged sum-of-parts target price of RM4.18.\u003C/p>\u003Cp>Meanwhile, PublicInvest noted that IOI Corp's FFB output rose eight per cent in the first half of FY26, although production is expected to decline by about 20 per cent month-on-month in February due to seasonal factors before rebounding around 10 per cent in March.\u003C/p>\u003Cp>Management expects overall FFB production growth of five to eight per cent for FY26, with the recent drought in Johor and flooding in Sabah having minimal impact on output.\u003C/p>\u003Cp>Fertiliser application has reached about 60 per cent of its target as of the first half of FY26, while replanting is on track to cover 10,000 hectares (ha) this year due to some areas being carried forward from the previous financial year.\u003C/p>\u003Cp>Production costs are also projected to decline by about RM200 per metric tonne in FY26, supported by improved FFB yields, better oil extraction rates and fertiliser costs that are expected to fall by three to five per cent year-on-year (YoY).\u003C/p>\u003Cp>To cushion weak refining margins, IOI Corp is expanding into premium palm oil products, including low-contaminant refined CPO, Roundtable on Sustainable Palm Oil (RSPO)-certified CPO, organic CPO and mineral oil saturated hydrocarbon products.\u003C/p>\u003Cp>PublicInvest noted that RSPO-certified CPO commands a premium of about US$35 to US$40 per metric tonne, while organic CPO can fetch an additional US$400 to US$500 per tonne on top of prevailing CPO prices.\u003C/p>\u003Cp>Meanwhile, the group's downstream segment recorded stronger performance in the first half of FY26, driven mainly by improved oleochemical margins in the first quarter following a sharp decline in palm kernel oil prices.\u003C/p>\u003Cp>The segment is also expected to benefit from incremental earnings contributions from IOI Corp's 20 per cent-owned associate, Bunge Loders Croklaan.\u003C/p>\u003Cp>The speciality fats producer recently completed its second plant in New Orleans, which is expected to lift production capacity by five to ten per cent YoY for products such as cocoa butter equivalents and cocoa butter replacers.\u003C/p>\u003Cp>Another new plant in Amsterdam is also under development, with phase one scheduled for completion by September 2026.\u003C/p>\u003Cp>Beyond palm oil, IOI Corp is expanding into new ventures, including coconut plantations and palm-based wood and pulp products.\u003C/p>\u003Cp>The group also plans to increase its coconut plantation area to 5,000ha from 3,000ha currently.\u003C/p>\u003Cp>Construction of a coconut oil mill complex in Segamat is set to begin this year and is expected to be commissioned by 2028. The facility will initially process about 100,000 coconuts per day, with plans to scale up capacity to 200,000 coconuts daily.\u003C/p>\u003Cp>PublicInvest estimates the project could contribute about RM50 million to RM60 million in pre-tax profit annually once fully operational.\u003C/p>",{"id":53,"name":54},17,"New Straits Times",[56],{"id":14,"name":15},{"name":58,"file_name":58,"url":59},"Manufacturing.jpg","https://www.ioigroup.com/storage/2807/Manufacturing.jpg",{"name":61,"file_name":61,"url":62},"ManufacturingLarge.jpg","https://www.ioigroup.com/storage/2808/ManufacturingLarge.jpg","2026-03-06T03:49:16.000000Z",[],{"meta_title":49,"meta_description":66,"meta_keywords":28},"IOI Corp Bhd is expanding into higher-margin palm oil products while expecting fresh fruit bunch (FFB) production to grow by five to eight per cent in...",{"id":68,"title":69,"date":70,"body":71,"source":72,"type":73,"image":75,"highlight_image":78,"published":22,"is_featured":22,"updated_at":81,"created_at":81,"content_type":24,"related_news":82,"metatag":83},946,"Strong earnings poised to bolster IOI Corp","2026-02-26T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/cAhLAcU3iPMdBV2dTLltiUQ4Dxi6jwXyof5rSbAi.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>HLIB Research noted that IOI’s management expects the earnings resilience to sustain into 2H26. (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>PETALING JAYA: Analysts remain positive about IOI Corp Bhd’s prospects, given the group’s first-half of the financial year 2026 (1H26) results, which exceeded most consensus expectations.\u003C/p>\u003Cp>IOI posted core earnings of RM790.4mil in 1H26, up 17.1% primarily due to better-than-expected fresh fruit bunch (FFB) output growth.\u003C/p>\u003Cp>Hong Leong Investment Bank (HLIB) Research said in a report that it raised the group’s core earnings forecasts for the financial year 2026 (FY26), FY27 and FY28 by 7.3%, 5% and 5.9%, respectively, mainly to reflect higher FFB output assumptions.\u003C/p>\u003Cp>Post-earnings revision, the brokerage firm has maintained a “buy” call on IOI with a higher target price (TP) of RM4.73 per share.\u003C/p>\u003Cp>On its outlook, HLIB Research noted that IOI’s management expects the earnings resilience to sustain into 2H26, supported by FFB output growth and firm crude palm oil (CPO) prices.\u003C/p>\u003Cp>On the other hand, the manufacturing segment’s operating environment will likely remain challenging, it added.\u003C/p>\u003Cp>This is due to elevated inventory levels and intense competition from Indonesian producers at the refining sub-segment and subdued consumer sentiment, and competition from Indonesian producers in its oleochemical sub-segment.\u003C/p>\u003Cp>In a note to clients, RHB Research said: “Going into 2H26, we expect IOI’s upstream earnings to continue doing well on the back of elevated CPO prices, while profits at its downstream division should stabilise.”\u003C/p>\u003Cp>The research house has kept its “buy” call on the stock, with a higher TP at RM4.85 per share.\u003C/p>\u003Cp>In addition, the stock’s valuation is attractive at 17 times 2026 price-to-earnings estimates, which is at the lower end of its peer range of 17 times to 20 times.\u003C/p>\u003Cp>Going forward, an analyst with a bank-backed brokerage said IOI expects both segments to remain challenging, with the refinery segment also facing elevated inventory levels and intense competition from Indonesian producers, placing pressure on sales margins and volume.\u003C/p>\u003Cp>However, this may be offset in the short-term by festive demand as well as strong contributions from its specialty fats associate coming from high cocoa butter equivalent margins, as seen by the associate pre-tax profit growth of 23% quarter-on-quarter in 2Q26.\u003C/p>\u003Cp>RHB Research said it made minor tweaks to its IOI forecasts, including updating in-house foreign exchange assumptions, and applying the latest export and levy duties in Indonesia, while it update the latest net debt figure in its sum-of-parts valuation.\u003C/p>\u003Cp>Meanwhile, Kenanga Research said IOI’s push into commercially driven sustainable ventures is among the boldest in the plantation sector.\u003C/p>\u003Cp>While risk-taking, deep pockets and patience are required for such projects, the brokerage firm noted that “some may bear fruit soon”.\u003C/p>\u003Cp>Kenanga Research, which has a “market perform” call on IOI, set a higher new target price of RM4.35 from RM4.20 previously.\u003C/p>\u003Cp>As an investment case, it said IOI is pushing to nudge up estate productivity from using higher yielding materials to pro-active mechanisation, digitalisation and electrification to value adding, via specialty niches and strategic net-zero efforts.\u003C/p>\u003Cp>However, reflecting on the CPO price trend, FY26 to FY27 earnings are expected to be flattish while the group’s share price is still within 10% of its share target price, said Kenanga Research.\u003C/p>",{"id":10,"name":11},[74],{"id":14,"name":15},{"name":76,"file_name":76,"url":77},"PalmFruit.jpg","https://www.ioigroup.com/storage/2804/PalmFruit.jpg",{"name":79,"file_name":79,"url":80},"PalmFruitLarge.jpg","https://www.ioigroup.com/storage/2805/PalmFruitLarge.jpg","2026-02-26T03:42:50.000000Z",[],{"meta_title":69,"meta_description":84,"meta_keywords":28},"HLIB Research noted that IOI’s management expects the earnings resilience to sustain into 2H26. (File pic by IOI Corporation).PETALING JAYA: Analysts...",{"id":86,"title":87,"date":88,"body":89,"source":90,"type":91,"image":93,"highlight_image":96,"published":22,"is_featured":22,"updated_at":99,"created_at":99,"content_type":24,"related_news":100,"metatag":101},945,"IOI Corp’s quarterly profit quadruples","2026-02-25T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/iwsyjv6DXgWifBzFIsTDyJQyo9RnIxTWx9LrtHKb.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>A 5.5 sen dividend was declared for the quarter. (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>PETALING JAYA: IOI Corp Bhd’s net profit more than quadrupled in the second quarter ended Dec 31, 2025 of financial year 2026 (2Q26) on stronger revenue and foreign-exchange gains.\u003C/p>\u003Cp>In a filing with Bursa Malaysia, the plantation player announced a net profit of RM528.5mil in 2Q26, as compared to RM111.1mil in the previous corresponding quarter.\u003C/p>\u003Cp>It is noteworthy that the second-quarter profit before tax (PBT) was recorded at RM650.2mil. However, after excluding one-off items including a RM112mil net foreign currency translation gain on borrowings and deposits, the underlying PBT was reduced to RM538.4mil, some 7% higher than the RM504.6mil seen in 2Q25.\u003C/p>\u003Cp>As for 2Q26 revenue, it increased by 1.5% year-on-year (y-o-y) to RM3.01bil, led by higher contribution from the resource-based manufacturing segment and marginally higher contribution from the plantation segment.\u003C/p>\u003Cp>The plantation segment’s profit was down 3% y-o-y in 2Q26, but by excluding the fair value loss on biological assets and derivative financial instruments, the underlying profit was recorded 0.3% y-o-y higher at RM500.6mil.\u003C/p>\u003Cp>The improvement was due mainly to higher fresh fruit bunch (FFB) production, partially offset by higher crude palm oil (CPO) stock level, lower CPO and palm kernel prices realised as well as higher cost of production.\u003C/p>\u003Cp>In 2Q26, the average selling price of CPO declined by 5.5% y-o-y to RM4,224 per tonne, while palm kernel prices were rather flat at RM3,449 per tonne. IOI Corp’s FFB output for 2Q26 was higher by 13.8% y-o-y at 874,000 per tonne.\u003C/p>\u003Cp>Meanwhile, the resource-based manufacturing segment’s underlying profit for 2Q26 was 94% higher y-o-y due mainly to higher margin from the refinery sub-segment, as well as higher share of associates results.\u003C/p>\u003Cp>With the improved second-quarter profitability, earnings per share rose to 8.46 sen.\u003C/p>\u003Cp>A 5.5 sen dividend was declared for the quarter. Cumulatively, for the first half of financial year 2026, IOI Corp’s net profit increased by 9.3% y-o-y to RM897.9mil, while revenue rose 7.5% to RM6.06bil.\u003C/p>\u003Cp>Looking ahead, IOI Corp expects CPO prices to remain supported above RM4,000 per tonne over the next three months, even though near-term volatility may persist.\u003C/p>\u003Cp>The group noted that the upside potential for CPO prices may be constrained by a stronger ringgit, the postponement of Indonesia’s B50 biodiesel mandate, and relatively high Malaysian palm oil inventory levels.\u003C/p>\u003Cp>“For our plantation segment, FFB production is projected to trend higher, driven by a larger proportion of oil palms reaching prime age, despite the ongoing accelerated replanting in Sabah. We remain positive on the outlook of the plantation segment and expect it to deliver resilient financial performance in FY26.”\u003C/p>\u003Cp>IOI Corp also cautioned that the outlook for the refinery and commodity marketing sub-segment continues to be challenging.\u003C/p>\u003Cp>Sales margins are expected to remain under pressure due to elevated inventory levels and intense competition from Indonesian producers.\u003C/p>\u003Cp>“While festive-driven demand may help mitigate the near-term headwinds, our expertise in producing low-contaminant oils, together with ongoing operational efficiency initiatives, will be key to sustaining acceptable financial performance.”\u003C/p>\u003Cp>As for the oleochemical sub-segment, the operating environment is expected to remain challenging, with subdued customer sentiment amid global trade policy uncertainties and geopolitical tensions.\u003C/p>\u003Cp>Competition, including from Indonesian producers, is expected to continue to place pressure on sales margins and volume.\u003C/p>\u003Cp>“But initiatives to strengthen our long-term customer relationships and expand into higher-value applications are expected to mitigate the margin pressures,” stated IOI Corp.\u003C/p>",{"id":10,"name":11},[92],{"id":14,"name":15},{"name":94,"file_name":94,"url":95},"Estate.jpg","https://www.ioigroup.com/storage/2800/Estate.jpg",{"name":97,"file_name":97,"url":98},"EstateLarge.jpg","https://www.ioigroup.com/storage/2801/EstateLarge.jpg","2026-02-25T04:49:08.000000Z",[],{"meta_title":87,"meta_description":102,"meta_keywords":28},"A 5.5 sen dividend was declared for the quarter. (File pic by IOI Corporation).PETALING JAYA: IOI Corp Bhd’s net profit more than quadrupled in the se...",{"id":104,"title":105,"date":106,"body":107,"source":108,"type":111,"image":113,"highlight_image":115,"published":22,"is_featured":22,"updated_at":117,"created_at":117,"content_type":24,"related_news":118,"metatag":119},944,"IOI Corp flags tough downstream outlook despite earnings jump","2026-02-24T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/tKOTcbpvybsweAvVvUN69WWIXnXThvMqqkZp2ZiU.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>Operating conditions for IOI Corporation’s refining and marketing as well as oleochemical sub-segments are expected to remain challenging, the company cautioned. (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>KUALA LUMPUR (Feb 24): IOI Corporation Bhd (KL:IOICORP), one of the world’s largest palm oil producers, flagged a tough downstream outlook even as earnings jumped in the recently-ended quarter.\u003C/p>\u003Cp>The outlook for its mainstay plantation business, however, is positive as output rises with a larger proportion of its trees reaching prime producing age, IOI Corporation said. Crude palm oil is expected to be supported above RM4,000 per tonne over the next three months, the company said.\u003C/p>\u003Cp>“We remain positive on the outlook of the plantation segment and expect it to deliver resilient financial performance in FY2026,” IOI Corporation said.\u003C/p>\u003Cp>Net profit for the three months ended Dec 31, 2025 (2QFY2026), was RM528.50 million, a near fivefold gain from RM111.10 million in the same period a year earlier, thanks largely to foreign currency translation gain on foreign currency denominated borrowings and deposits, a bourse filing showed.\u003C/p>\u003Cp>Revenue for the quarter, meanwhile, edged up 1% to RM3.01 billion as average selling prices fell despite higher production volume. The company also declared a dividend of 5.5 sen per share payable March 24.\u003C/p>\u003Cp>\u003Cstrong>Downstream outlook tough\u003C/strong>\u003C/p>\u003Cp>Operating conditions for IOI Corporation’s refining and marketing as well as oleochemical sub-segments are expected to remain challenging, the company cautioned.\u003C/p>\u003Cp>At its refinery and commodity marketing sub-segment, sales margins are expected to remain under pressure due to elevated inventory levels and intense competition from Indonesian producers, the company said.\u003C/p>\u003Cp>Subdued customer sentiment and competition, including from Indonesian producers, would continue to weigh on the margin and sales volume of its oleochemical units, IOI Corporation noted.\u003C/p>\u003Cp>For the speciality fats sub-segment, “good sales margin” for cocoa butter equivalents is expected to underpin the better performance in Asia while the completion of the expansion of the New Orleans plant in the next six months will strengthen its American operations, the company said.\u003C/p>\u003Cp>For the first six months of its financial year, net profit totalled RM897.9 million or about 9% higher when compared to the same period a year earlier. Cumulative revenue rose 7.5% year-on-year to RM6.06 billion.\u003C/p>\u003Cp>Overall, IOI Corporation said it expects its operating and financial performance for the remaining quarters of FY2026 to be “resilient”.\u003C/p>",{"id":109,"name":110},7,"The Edge Malaysia",[112],{"id":14,"name":15},{"name":38,"file_name":38,"url":114},"https://www.ioigroup.com/storage/2798/Office.jpg",{"name":41,"file_name":41,"url":116},"https://www.ioigroup.com/storage/2799/OfficeLarge.jpg","2026-02-25T04:37:12.000000Z",[],{"meta_title":105,"meta_description":120,"meta_keywords":28},"Operating conditions for IOI Corporation’s refining and marketing as well as oleochemical sub-segments are expected to remain challenging, the company...",{"id":122,"title":123,"date":124,"body":125,"source":126,"type":129,"image":131,"highlight_image":134,"published":22,"is_featured":22,"updated_at":137,"created_at":138,"content_type":24,"related_news":139,"metatag":140},942,"CelcomDigi powers IOI’s digital transformation journey with estate-wide high-speed connectivity","2026-01-15T00:00:00.000000Z","\u003Cul>\u003Cli>Estate-wide connectivity extends digital access to surrounding rural communities\u003C/li>\u003Cli>High-speed 4G connects over 100 IOI estates, enabling automation & data-driven operations\u003C/li>\u003C/ul>\u003Cp> \u003C/p>\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/csnADAIo8XzIukDOuIcB3UkiXFzeBZJ0DZQ9mgY3.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>IOI Plantation director NB Sudhakaran (left) and Afizulazha Abdullah, chief enterprise business officer of CelcomDigi (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>CelcomDigi Berhad has announced the completion of a large-scale connectivity and tower infrastructure deployment across IOI Corporation Berhad’s plantation estates in Sabah and Peninsular Malaysia. In a statement, the telco said the initiative supports IOI’s digital transformation across its plantation operations, while extending reliable coverage to surrounding rural communities.\u003C/p>\u003Cp>To date, CelcomDigi has deployed over 100 4G and 4G LTE network sites across more than 100 IOI estates nationwide, alongside dedicated Direct Internet Access for estate offices. The company said this end-to-end solution accelerates the digitalisation of core activities, including mill automation, mobile workforce applications, IoT-enabled asset and fleet management, and future data-led use cases essential to modern plantation management.\u003C/p>\u003Cp>With high-speed connectivity in place, IOI can progressively integrate intelligent systems and automate processes to improve productivity, operational visibility, and safety. In agriculture, estate-wide connectivity is a critical first step in modernising operations, enabling organisations to integrate systems and data to build scalable, efficient, and sustainable workflows.\u003C/p>\u003Cp>Beyond plantation operations, the connectivity also benefits surrounding rural communities by improving access to education, healthcare, and essential digital services. By strengthening digital inclusion, the initiative supports broader socioeconomic progress and enables more communities to participate in Malaysia’s digital economy.\u003C/p>\u003Cp>Afizulazha Abdullah, chief enterprise business officer of CelcomDigi, said, “In the plantation sector, businesses with consistent, estate-wide connectivity see measurable gains in operational efficiency and digital adoption. Early adopters report higher productivity and faster progress toward revenue goals through connected operations.”\u003C/p>\u003Cp>“IOI now has the digital foundation to scale automation and intelligent systems across its plantations and mills. This is how we power the next phase of growth — delivering operational gains, supporting sustainable practices, and strengthening surrounding communities,” he added.\u003C/p>\u003Cp>Commenting on the partnership, IOI Plantation director NB Sudhakaran said, “Our ambition is to transform IOI’s plantations into integrated, connected operations that can compete on productivity and sustainability over the long term. Partnering with CelcomDigi brings the network capability and shared commitment needed to address real challenges on the ground.”\u003C/p>\u003Cp>“By leveraging this connectivity as the foundation for integrated digital operations, we aim to scale automation, implement smart fleet and asset management, and strengthen data-led decision-making,” he added.\u003C/p>\u003Cp>The collaboration reflects CelcomDigi’s commitment to building Malaysia’s 5G digital society by providing enterprises with the digital foundations needed for growth. It forms part of CelcomDigi Business’ ambition to digitalise industries with next-generation connectivity and solutions, enabling them to compete and thrive in Malaysia’s digital economy.\u003C/p>",{"id":127,"name":128},107,"Digital News Asia",[130],{"id":14,"name":15},{"name":132,"file_name":132,"url":133},"IOI-CelcomDigi.jpg","https://www.ioigroup.com/storage/2755/IOI-CelcomDigi.jpg",{"name":135,"file_name":135,"url":136},"IOI-CelcomDigi_Large.jpg","https://www.ioigroup.com/storage/2756/IOI-CelcomDigi_Large.jpg","2026-01-16T08:42:57.000000Z","2026-01-16T04:37:53.000000Z",[],{"meta_title":123,"meta_description":141,"meta_keywords":28},"Estate-wide connectivity extends digital access to surrounding rural communitiesHigh-speed 4G connects over 100 IOI estates, enabling automation & dat...",{"id":143,"title":144,"date":124,"body":145,"source":146,"type":149,"image":151,"highlight_image":154,"published":22,"is_featured":22,"updated_at":157,"created_at":157,"content_type":24,"related_news":158,"metatag":159},943,"Uplifting One, Uplifting All: IOI Foundation and the Power of Purpose-Driven Giving","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/XxHJEjb9RuRx6Ht2Wh3wXkvhUcBYpDd9UMuzjBWe.jpg\" width=\"1200\" height=\"800\">\u003C/figure>\u003Cp> \u003C/p>\u003Cp>At the heart of IOI Corporation Berhad’s (IOI) corporate responsibilities and community efforts lies a quiet yet powerful force: IOI Foundation. Formerly known as Yayasan Tan Sri Lee Shin Cheng, this charitable arm has been touching lives with genuine care, empathy, humility and a deep belief in the potential of every person since its inception in 1985.\u003C/p>\u003Cp>Whether it’s a child dreaming of education, a family in need of medical support, or a rural student discovering a passion for science, IOI Foundation continues to stand by those who need a hand, a voice, or simply a chance. In FY2024 alone, IOI Foundation contributed RM2.7 million, supporting 141 individuals and organisations. This brings its cumulative impact to more than RM65 million over four decades – a lasting legacy of giving that has helped build schools, equip students with tools for the future, and bring dignity and relief to countless lives.\u003C/p>\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1050/400;\" src=\"https://www.ioigroup.com/storage/editor-images/cBJFcJdJDH49adYL9zxz617v7TnBZsW2cCslKDja.jpg\" width=\"1050\" height=\"400\">\u003Cfigcaption>Central to IOI Foundation’s mission is the belief that education is empowerment\u003C/figcaption>\u003C/figure>\u003Cp>Through IOI’s Student Adoption Programme, more than 1,500 students have been supported, many of them the first in their families to receive structured academic aid. In addition, over 350 scholarship holders have been given the opportunity to pursue their higher education dreams since 1998, each a future changemaker shaped by compassion and purpose.\u003C/p>\u003Cp>Yet IOI’s support goes far beyond financial assistance. Its foundation also champions circular impact through Bargain Basement, a social enterprise founded in 2016 by IOI Foundation Executive Director Datin Joanne Wong. Built on a simple yet powerful concept – providing a platform to donate or buy pre-loved items while supporting others. Bargain Basement has become a community treasure trove that embodies sustainability and kindness. It diverts waste from landfills, promotes mindful consumption, and most importantly, channels all net earnings into helping those in need.\u003C/p>\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1050/400;\" src=\"https://www.ioigroup.com/storage/editor-images/YOyRsNPz0A0P2NbJCA7Pk9x5bADUj799ZDvKuSZ1.jpg\" width=\"1050\" height=\"400\">\u003Cfigcaption>Bargain Basement donated RM400,000 to 18 beneficiaries in 2024. Since its inception, IOI has contributed close to RM1 million to 50 charity homes and organisations, proving that even small everyday actions – like passing on a pre-loved item – can lead to meaningful change\u003C/figcaption>\u003C/figure>\u003Cp>Through every scholarship awarded, every bag of groceries given, every child’s smile restored, IOI Foundation is more than just a charitable body – it is a symbol of IOI’s belief in shared prosperity, inclusive growth and the power of purpose-driven giving.\u003C/p>\u003Cp>As the world moves forward, IOI’s approach to CSR remains grounded in one timeless principle: “When we uplift one, we uplift all”.\u003C/p>",{"id":147,"name":148},106,"CSR Malaysia",[150],{"id":14,"name":15},{"name":152,"file_name":152,"url":153},"CSR3Cover.jpg","https://www.ioigroup.com/storage/2757/CSR3Cover.jpg",{"name":155,"file_name":155,"url":156},"CSR3CoverLarge.jpg","https://www.ioigroup.com/storage/2758/CSR3CoverLarge.jpg","2026-01-20T09:46:34.000000Z",[],{"meta_title":144,"meta_description":160,"meta_keywords":28}," At the heart of IOI Corporation Berhad’s (IOI) corporate responsibilities and community efforts lies a quiet yet powerful force: IOI Foundation. Form...",{"id":162,"title":163,"date":164,"body":165,"source":166,"type":167,"image":169,"highlight_image":172,"published":22,"is_featured":22,"updated_at":175,"created_at":176,"content_type":24,"related_news":177,"metatag":178},941,"Cautious optimism for plantations","2026-01-03T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/ORWOBAbd1IpgL3ueDBGkM3Q8FEMDj8hSfiDpXMjG.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>(File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>MALAYSIA'S plantation sector heads into 2026 with a cautiously constructive backdrop, underpinned by yield recovery, structurally higher biodiesel demand and improving estate efficiency, even as elevated inventories and uneven export momentum temper near term enthusiasm. \u003C/p>\u003Cp>The operating outlook for IOI Corp Bhd, one of the country's largest integrated palm oil players, is firmly tilted towards recovery. \u003C/p>\u003Cp>\"For IOI Corp's plantation segment, fresh fruit bunches production is projected to be higher in financial year 2026 (FY26), driven by a larger proportion of palms reaching prime age and young palms coming into maturity, despite ongoing and accelerated replanting in Sabah,” its plantation director Sudhakaran Nottath Bhaskaran says. \u003C/p>\u003Cp>\"Improved estate management through mechanisation and digitalisation should further support our productivity growth. We maintain a positive outlook for our plantation segment to deliver good financial performance in FY26.\" \u003C/p>\u003Cp>That assessment broadly mirrors the sector's post-El Niño rebound. \u003C/p>\u003Cp>After a strong production recovery in 2025, analysts expect growth to normalise in 2026 as the industry enters a lower seasonal output phase and faces weather uncertainties linked to the onset of La Niña. \u003C/p>\u003Cp>However, yields are expected to remain positive in the near term, helped by a younger age profile across estates following years of aggressive replanting. \u003C/p>\u003Cp>At IOI Corp, accelerated replanting has materially reshaped its plantation profile. \u003C/p>\u003Cp>\"We have accelerated our replanting for some years now in order to improve planting age profile, whereby 30% of the palms were tall in 2018, this has now been brought down to 18%,\" Sudhakaran notes. \u003C/p>\u003Cp>As replanted palms mature, IOI Corp expects a meaningful uplift in yields over the next few years, lowering unit costs from FY26 onwards as the heavy replanting phase tapers off. \u003C/p>\u003Cp>Labour \u003Cspan style=\"color:#1F3C92;\">\u003Cspan style=\"font-family:"Garamond",serif;font-size:12.0pt;mso-ansi-language:EN-MY;mso-bidi-font-family:Aptos;mso-bidi-language:AR-SA;mso-fareast-font-family:DengXian;mso-fareast-language:ZH-CN;mso-fareast-theme-font:minor-fareast;\">–\u003C/span>\u003C/span> a long-standing structural challenge for the sector \u003Cspan style=\"color:#1F3C92;\">\u003Cspan style=\"font-family:"Garamond",serif;font-size:12.0pt;mso-ansi-language:EN-MY;mso-bidi-font-family:Aptos;mso-bidi-language:AR-SA;mso-fareast-font-family:DengXian;mso-fareast-language:ZH-CN;mso-fareast-theme-font:minor-fareast;\">–\u003C/span>\u003C/span> appears more manageable than in previous years, though not entirely resolved. \u003C/p>\u003Cp>Sudhakaran says the company currently does not face labour shortages, having improved worker amenities and reviewed wage structures to remain competitive. \u003C/p>\u003Cp>Crucially, mechanisation is reducing dependence on manual labour. \u003C/p>\u003Cp>\"We have also reduced manual work content by expediting mechanisation and expanding it into more activities, which we hope will help to attract more local workers to work as machine operators,\" Sudhakaran says. \u003C/p>\u003Cp>This shift is increasingly important as risks remain around foreign worker intake policies, particularly in Peninsular Malaysia. \u003C/p>\u003Cp>From a pricing perspective, crude palm oil (CPO) remains the key earnings swing factor. \u003C/p>\u003Cp>IOI Corp expects near term support to persist. \u003C/p>\u003Cp>\"Looking ahead, the potential onset of La Niña weather phenomenon, which could disrupt harvesting activities and output, together with the seasonal low production period from November 2025 to February 2026, and early festive demand next year, should provide a supportive environment for CPO prices,\" Sudhakaran says. \u003C/p>\u003Cp>\"CPO prices are likely to stay above RM4,000 per tonne over the next three to four months.\" \u003C/p>\u003Cp>CGS International (CGSI) Research is more bullish over the medium term, lifting its CPO price assumption to RM4,500 per tonne for 2026 from RM4,000 previously. \u003C/p>\u003Cp>The research house argues that rising biodiesel mandates are creating a structural floor for vegetable oil prices. \u003C/p>\u003Cp>Indonesia, the United States and Brazil, which together account for about 60% of global biodiesel production, are increasingly diverting domestic oilseed output into fuel, tightening export availability of both palm and soybean oil. \u003C/p>\u003Cp>With global consumption of major vegetable oils projected to rise by 6.1 million tonnes in 2026, CGSI Research expects the global stock-to-usage ratio to fall further, lending support to prices. \u003C/p>\u003Cp>On the supply side, it flags slower palm on production growth in 2026 after the sharp rebound in 2025, alongside longer-term land-related risks in Indonesia, where millions of ha of plantations are under review or have been seized. \u003C/p>\u003Cp>These factors could start constraining supply from the second half of FY26, reinforcing price support. \u003C/p>\u003Cp>However, the near term picture is less straightforward, particularly for Malaysia. \u003C/p>\u003Cp>RHB Research remains \"neutral\" on the sector, highlighting that Malaysian palm oil inventories hit a six-year high of 2.84 million tonnes in November 2025, pushing the stock-to-usage ratio well above its historical average. \u003C/p>\u003Cp>Exports have been sluggish, partly due to demand normalisation after the festive season and relatively high stock levels in key importing countries such as India and Pakistan. \u003C/p>\u003Cp>While CPO is trading at a wide discount to competing oils, RHB Research notes that Indonesia continues to enjoy a tax advantage, supporting its export growth at Malaysia's expense. \u003C/p>\u003Cp>Indonesia's policy choices also loom large over competitiveness. \u003C/p>\u003Cp>Sudhakaran notes that while Indonesia's recent hike in export levies on refined products \"could help create a more level playing field for Malaysian CPO downstream players\", pricing advantages remain due to Indonesia's scale and sourcing. \u003C/p>\u003Cp>Aggressive downstream capacity expansion there is also creating overcapacity risks. \u003C/p>\u003Cp>He adds that IOI Corp plans to counter these pressures by focusing on low-contaminant oils, sustainability compliance and operational efficiency \u003Cspan style=\"color:#1F3C92;\">\u003Cspan style=\"font-family:"Garamond",serif;font-size:12.0pt;mso-ansi-language:EN-MY;mso-bidi-font-family:Aptos;mso-bidi-language:AR-SA;mso-fareast-font-family:DengXian;mso-fareast-language:ZH-CN;mso-fareast-theme-font:minor-fareast;\">–\u003C/span>\u003C/span> areas that could matter more as regulations such as the EU Deforestation Regulation reshape trade flows. \u003C/p>\u003Cp>Cost pressures, meanwhile, appear more benign than in recent years. \u003C/p>\u003Cp>Sudhakaran says fertiliser and labour costs have stabilised, though logistics costs remain exposed to tightening domestic transport rules and geopolitical risks affecting shipping. \u003C/p>\u003Cp>Encouragingly for margins, he expects unit costs to fall as yields recover post-replanting. For investors, the debate increasingly centres on positioning. \u003C/p>\u003Cp>CGSI Research has upgraded the sector to \"overweight\", favouring pure upstream players such as Hap Seng Plantations Holdings Bhd, Ta Ann Holdings Bhd and SD Guthrie Bhd for their higher earnings sensitivity to CPO prices and attractive dividend yields. \u003C/p>\u003Cp>Integrated players, while more diversified, may see earnings diluted by higher feedstock costs and forward sales commitments. \u003C/p>\u003Cp>IOI Corp itself has been upgraded to \"add\" by CGSI Research, reflecting higher CPO assumptions and the value of its strategic stake in Indonesia-listed Bumitama Agri. \u003C/p>\u003Cp>Ultimately, while elevated inventories and export competition may cap near term upside, the medium-term outlook for Malaysia's plantation sector looks firmer than it has in years. \u003C/p>\u003Cp>With yields recovering, costs stabilising and biodiesel demand reshaping global oil markets, the sector appears better positioned to weather volatility, provided weather risks and policy surprises do not derail the fragile balance between supply and demand.\u003C/p>",{"id":10,"name":11},[168],{"id":14,"name":15},{"name":170,"file_name":170,"url":171},"Harvest.jpg","https://www.ioigroup.com/storage/2750/Harvest.jpg",{"name":173,"file_name":173,"url":174},"HarvestLarge.jpg","https://www.ioigroup.com/storage/2751/HarvestLarge.jpg","2026-01-05T08:10:42.000000Z","2026-01-05T05:06:01.000000Z",[],{"meta_title":163,"meta_description":179,"meta_keywords":28},"(File pic by IOI Corporation).MALAYSIA'S plantation sector heads into 2026 with a cautiously constructive backdrop, underpinned by yield recovery, str...",{"id":181,"title":182,"date":183,"body":184,"source":185,"type":186,"image":188,"highlight_image":191,"published":22,"is_featured":22,"updated_at":194,"created_at":195,"content_type":24,"related_news":196,"metatag":197},939,"Shaping a Circular, Decarbonised Future at IOI","2025-12-17T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/KBbEY9OzyJbmbQw8PoobcREfZ0WIPBSbyRwUImzw.jpg\" width=\"1200\" height=\"800\">\u003C/figure>\u003Cp> \u003C/p>\u003Cp>It is true that we do not inherit the Earth from our ancestors; we borrow it from our children. This ethos fuels IOI Corporation Berhad’s (IOI) unwavering commitment to sustainability – not as a corporate obligation, but as a heartfelt responsibility to the communities it serves, the people it employs, and the ecosystems we depend on.\u003C/p>\u003Cp>At the core of this vision lies IOI’s holistic resources and waste management approach, known as the 7Rs of Circularity (Rethink, Repurpose, Reduce, Reuse, Recycle, Repair and Recover). These principles shape how IOI operates across its value chain, from plantation to manufacturing innovation, and serve as a daily reminder that every material, every effort, and every person matters. Through this deep commitment to decarbonisation and circularity, IOI achieved many remarkable milestones.\u003C/p>\u003Cp>In 2019, IOI Corporation pledged to reduce 40% of Scope 1 and 2 greenhouse gas (GHG) emissions by 2025, using 2015 as a baseline. By FY2024, a year ahead of schedule, IOI surpassed that goal with a 42% reduction, and further advanced its progress in FY2025 with a 46% reduction in Group-wide GHG emissions intensity. This success was driven by its integrated approach to sustainability, leveraging methane capture facilities, crop sequestration, the 7Rs and more to drive tangible impact.\u003C/p>\u003Cp>But IOI’s journey goes far beyond numbers. It lives in the hands of its employees collecting used beverage cartons (UBC) for recycling through a pioneering partnership with Tetra Pak Malaysia. It’s seen in the smiles of local communities participating in its upcycling initiatives, and in the pride of its teams who see waste not as an end, but as a beginning.\u003C/p>\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1050/400;\" src=\"https://www.ioigroup.com/storage/editor-images/6QDVITduS1PxCb8adZLMpUtXAh1Z3ruQCcmpSqH7.jpg\" width=\"1050\" height=\"400\">\u003Cfigcaption>IOI expanded the UBC collection to all its operating units across Peninsular Malaysia and Sabah in April 2024\u003C/figcaption>\u003C/figure>\u003Cp>It’s also in the transformation of agricultural by-products into new sources of value. Where others saw discarded oil palm trunks and empty fruit bunches, IOI saw potential. From this, the OnCore® palm wood was born as a sustainable timber alternative, produced at Malaysia’s first palm wood factory, IOI Palm Wood Sdn Bhd in Segamat, Johor. And through a strategic partnership with Nextgreen Global Berhad, it is turning empty fruit bunches into wood-free pulp and paper, contributing to forest conservation while growing new circular economies.\u003C/p>\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1050/400;\" src=\"https://www.ioigroup.com/storage/editor-images/DTxAx6MBplpXwEQbEgt0o2TqU4nV9Tdg4rRHUzjn.jpg\" width=\"1050\" height=\"400\">\u003Cfigcaption>IOI Palm Wood factory was itself designed with sustainability in mind, powered by thermal oil systems and biomass boilers that reduce landfill waste and emissions\u003C/figcaption>\u003C/figure>\u003Cp>Central to all these efforts is IOI’s unwavering focus on people. Its inclusive “Just Transition” approach ensures that its employees, stakeholders, supply chains and communities are not only included, but also empowered and equipped with the knowledge, tools and support needed to walk this path together.\u003C/p>\u003Cp>IOI believes that a low-carbon and climate-resilient future can only be realised when everyone moves forward, side by side.\u003C/p>",{"id":147,"name":148},[187],{"id":14,"name":15},{"name":189,"file_name":189,"url":190},"CSR1Cover.jpg","https://www.ioigroup.com/storage/2746/CSR1Cover.jpg",{"name":192,"file_name":192,"url":193},"CSR1CoverLarge.jpg","https://www.ioigroup.com/storage/2747/CSR1CoverLarge.jpg","2025-12-29T04:02:19.000000Z","2025-12-29T01:55:19.000000Z",[],{"meta_title":182,"meta_description":198,"meta_keywords":28}," It is true that we do not inherit the Earth from our ancestors; we borrow it from our children. This ethos fuels IOI Corporation Berhad’s (IOI) unwav...",{"id":200,"title":201,"date":183,"body":202,"source":203,"type":204,"image":206,"highlight_image":209,"published":22,"is_featured":22,"updated_at":212,"created_at":213,"content_type":24,"related_news":214,"metatag":215},940,"Nurturing A Living Legacy Across IOI","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/EhdAWbcaAyEmBzQ5ZsxXM3TnFZwY9vpXwniQhaFT.jpg\" width=\"1200\" height=\"800\">\u003C/figure>\u003Cp> \u003C/p>\u003Cp>At IOI Corporation Berhad (IOI), sustainability is more than a goal – it is the company’s foundation and its shared promise. By fostering a deep harmony between people, planet and prosperity, it drives meaningful changes through the values it upholds, the partnerships it nurtures and the legacy it chooses to leave behind. Rooted in purpose, IOI’s commitment to biodiversity and ecosystem enhancement stands as a living testament to how responsible businesses can create lasting environmental impact.\u003C/p>\u003Cp>A major milestone in this journey was the transformation of IOI’s 1,128-hectare (ha) Pamol Kluang Estate in Johor into Southeast Asia’s first certified organic oil palm plantation. Over three years, the company reengineered every aspect of its entire operations – eliminating chemical inputs and adopting regenerative practices such as biological pest control, buffalo grazing, planting beneficial plants and cover crops. These efforts culminated in 2024 with organic certifications from the EU, USDA and China, marking a breakthrough in regional organic palm oil production. Building on this success, IOI is expanding its organic plantation and preparing another 2,495 ha for certification.\u003C/p>\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1050/400;\" src=\"https://www.ioigroup.com/storage/editor-images/9KUzuIAbNLGJ6cboVjassFJxSEdIPAzoxtY5mtHg.jpg\" width=\"1050\" height=\"400\">\u003Cfigcaption>The ecological benefits of its organic fields are real and measurable. In just two years, the barn owl population has grown by 60%, a strong indicator of soil health and thriving biodiversity\u003C/figcaption>\u003C/figure>\u003Cp>Across IOI’s operations, it continues to practise and refine its regenerative and precision agriculture approach, which prioritises integrated pest control, nutrient recycling and enriching soil naturally, while optimising yields and conserving natural resources. These efforts are guided by IOI’s policies and guidelines, such as IOI Sustainability Policy and Biodiversity & Ecosystem Enhancement Guidelines, and further strengthened through its Sustainability Consultation Forum, an annual platform for dialogue and collaboration for internal and external stakeholders to co-create strategies for long-term conservation.\u003C/p>\u003Cp>IOI’s positive impact extends well beyond its estates, mills, refinery and manufacturing facilities. Through strategic collaborations with partners such as Sabah Wildlife Department, NGOs, companies and universities, it advances wildlife conflict mitigation, habitat restoration and community-driven conservation. At its Syarimo 4 Estate in Sabah for instance, which is an 84-ha rehabilitation project planted with fast-growing Laran trees, now provides shelter for rare and endangered species while enhancing carbon sequestration and climate resilience.\u003C/p>\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1050/400;\" src=\"https://www.ioigroup.com/storage/editor-images/LRsoXIeIDozVgfZ5rUJFJQDKGsUCek4qdxg5gC3r.jpg\" width=\"1050\" height=\"400\">\u003Cfigcaption>Living signs and sightings of wildlife, such as footprints of Sambar Deer (right), inspired IOI to designate the Laran-planted site as a conservation area to preserve the newly established habitat\u003C/figcaption>\u003C/figure>\u003Cp>Together, these initiatives embody IOI’s vision – a vision where progress and preservation thrive side by side, and where every action today helps sustain the living planet shared for generations to come.\u003C/p>",{"id":147,"name":148},[205],{"id":14,"name":15},{"name":207,"file_name":207,"url":208},"CSR2Cover.jpg","https://www.ioigroup.com/storage/2748/CSR2Cover.jpg",{"name":210,"file_name":210,"url":211},"CSR2CoverLarge.jpg","https://www.ioigroup.com/storage/2749/CSR2CoverLarge.jpg","2025-12-29T04:02:05.000000Z","2025-12-29T02:29:59.000000Z",[],{"meta_title":201,"meta_description":216,"meta_keywords":28}," At IOI Corporation Berhad (IOI), sustainability is more than a goal – it is the company’s foundation and its shared promise. By fostering a deep harm...",{"id":218,"title":219,"date":220,"body":221,"source":222,"type":223,"image":225,"highlight_image":228,"published":22,"is_featured":22,"updated_at":231,"created_at":231,"content_type":24,"related_news":232,"metatag":233},938,"IOI Corp’s mill likely to break even in two years","2025-12-10T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/C0nrKTOrQWoTCxywKRiAymlRY3julnMonijd19g7.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>MBSB Research remains positive on the group’s near-mid-term outlook. (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>PETALING JAYA: IOI Corp Bhd’s first integrated coconut mill complex in Segamat, Johor will complement its existing downstream operations and the venture is expected to break even in two years.\u003C/p>\u003Cp>According to MBSB Research, it will enable the plantation group to offer high-value coconut lauric-based derivatives and strengthen its position in the specialty oils and fats segment.\u003C/p>\u003Cp>Hence, the research house has remained positive on the group’s near-mid-term outlook.\u003C/p>\u003Cp>It said IOI Corp’s upstream operations are expected to contribute over 90% profit and more than 40% margins in its financial year 2026 (FY26) to FY28.\u003C/p>\u003Cp>This is supported by fresh fruit brunch output growth of 5% to 10%, thanks to a decent age profile of 13 years and low costs of RM1,900 to RM2,000 per tonne.\u003C/p>\u003Cp>IOI Corp is diversifying into coconuts by partnering with Taiwan’s Mega Star to build a large, sustainable coconut processing complex, which is set for completion by the fourth quarter of 2027.\u003C/p>\u003Cp>The joint venture with Megastar is primarily aimed at securing a stable off-taker for concentrated coconut water, as IOI Corp sees strong demand potential, particularly from China’s food and beverage sector.\u003C/p>\u003Cp>With coconut oil forming the earnings backbone and commanding a premium to palm kernel oil (PKO), margins should improve, while the Megastar partnership secures demand visibility, said MBSB Research.\u003C/p>\u003Cp>Overall, the venture offers scalable, value-accretive returns over the medium to long term, the research house added.\u003C/p>\u003Cp>The project will adopt a full-utilisation coconut model anchored by coconut oil, which accounts for 70% of output, alongside concentrated coconut water and by-products.\u003C/p>\u003Cp>“All parts of the coconut are going to be monetised – husks are used as factory fuel, shells are sold externally and copra channelled into animal feed,” the research house said.\u003C/p>\u003Cp>Coconut oil remains the core commercial focus, leveraging IOI Corp’s existing PKO customer base, given that both are lauric oils.\u003C/p>\u003Cp>It typically commands a 30% to 40% premium over PKO, which should support margin expansion within the Resource-Based Manufacturing sub-segment.\u003C/p>\u003Cp>Malaysia’s coconut demand exceeded domestic supply, with an estimated self-sufficiency ratio of around 60%, leaving a structural 40% import gap, said the research house.\u003C/p>\u003Cp>There will be some portions to be spared to cater for the local demand.\u003C/p>\u003Cp>Broadly, Thailand focuses mainly on fresh drinking coconuts, while Indonesia and the Philippines dominate fresh milk and coconut oil processing.\u003C/p>\u003Cp>MBSB Research has maintained its “buy” call on the stock with an unchanged target price of RM4.42 a share.\u003C/p>",{"id":10,"name":11},[224],{"id":14,"name":15},{"name":226,"file_name":226,"url":227},"Coconut.jpg","https://www.ioigroup.com/storage/2739/Coconut.jpg",{"name":229,"file_name":229,"url":230},"CoconutLarge.jpg","https://www.ioigroup.com/storage/2740/CoconutLarge.jpg","2025-12-12T04:34:19.000000Z",[],{"meta_title":219,"meta_description":234,"meta_keywords":28},"MBSB Research remains positive on the group’s near-mid-term outlook. (File pic by IOI Corporation).PETALING JAYA: IOI Corp Bhd’s first integrated coco...",{"id":236,"title":237,"date":238,"body":239,"source":240,"type":243,"image":245,"highlight_image":248,"published":22,"is_featured":22,"updated_at":251,"created_at":251,"content_type":24,"related_news":252,"metatag":253},937,"IOI Corp starts FY26 with higher earnings, revenue at RM3 bln","2025-12-02T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/dnCVr2Sc1IjeyB6ZugAfpWddjJUcb3CeIJYMqyTv.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>(File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>KUCHING: IOI Corporation Bhd (IOI Corp) kicked off its first quarter of financial year 2026 (1QFY26) with a 22 per cent rise in core profit to RM368 million, supported by stronger contributions from both its plantation and resource-based manufacturing segments. \u003C/p>\u003Cp>Public Investment Bank Bhd (PublicInvest Research) said the results were in line with expectations, making up 27 per cent of its and the street's full-year forecasts after excluding several exceptional items, including net foreign exchange translation loss, a RM22.8 million net FX gain, a RM41.9 million net fair value loss on derivative instruments, and a RM21.1 million net fair value gain on biological assets. \u003C/p>\u003Cp>For 1QFY26, quarterly revenue grew from RM2.6 billion to RM3 billion, fuelled by higher sales in the plantation segment (up 48 per cent year-on-year) and resource-based manufacturing segment (up 13 per cent year-on-year).\u003C/p>\u003Cp>Average CPO price increased from RM4,059 per metric tonne to RM4,169 per metric tonne, while palm kernel price rose sharply from RM2,699 per metric tonne to RM3,529 per metric tonne.\u003C/p>\u003Cp>Fresh fruit bunches (FFB) production improved 2.2 per cent year-on-year to 777,000 metric tonnes, and the oil extraction rate held steady at 21.34 per cent. \u003C/p>\u003Cp>Sales from the resource-based manufacturing division climbed from RM2.5 billion to RM2.9 billion, led by stronger contributions from the refining and oleochemical sub-segments.\u003C/p>\u003Cp>Core profit wise, excluding exceptional items, the group's 22 per cent higher core profit was driven by improved plantation earnings and robust performance from the resource-based manufacturing segment. \u003C/p>\u003Cp>PublicInvest Research noted that the group's plantation earnings rose 13.7 per cent year-on-year to RM401.6 million, supported by firmer selling prices and a stable oil extraction rate. \u003C/p>\u003Cp>CPO production cost increased slightly to RM1,916 per metric tonne, while resource-based manufacturing earnings jumped from RM37.6 million to RM131.2 million, underpinned by stronger refinery and oleochemical performance. \u003C/p>\u003Cp>Looking ahead, in anticipation of the potential onset of La Nina weather phenomenon, coupled with the low production cycle in the next 4 months, ahead of the festive celebration early next year, management expects the CPO price to stay above RM4,000 per metric tonne over the next 3 to 4 months. \u003C/p>\u003Cp>\"Despite an aggressive replanting target of 12,000 hectares in Sabah, the group is projecting FFB production growth of 5 to 10 per cent in FY26 due to additional mature areas and improved yields. \u003C/p>\u003Cp>\"For the downstream segment, management believes that the outlook for the refinery and commodity sub-segment will be challenging, with sales margin to remain at near breakeven levels as price competition heightens due to the overcapacity situation in Indonesia. \u003C/p>\u003Cp>\"The oleochemical sub-segment is expected to see better margins, supported by a broader customer base,\" it said.\u003C/p>",{"id":241,"name":242},3,"Borneo Post",[244],{"id":14,"name":15},{"name":246,"file_name":246,"url":247},"E.jpg","https://www.ioigroup.com/storage/2734/E.jpg",{"name":249,"file_name":249,"url":250},"Elarge.jpg","https://www.ioigroup.com/storage/2735/Elarge.jpg","2025-12-03T06:42:33.000000Z",[],{"meta_title":237,"meta_description":254,"meta_keywords":28},"(File pic by IOI Corporation).KUCHING: IOI Corporation Bhd (IOI Corp) kicked off its first quarter of financial year 2026 (1QFY26) with a 22 per cent...",{"id":256,"title":257,"date":258,"body":259,"source":260,"type":261,"image":263,"highlight_image":266,"published":22,"is_featured":22,"updated_at":269,"created_at":269,"content_type":24,"related_news":270,"metatag":271},936,"IOI Corp expects satisfactory FY26 perfomance","2025-11-27T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/1ZIlVkhqdyGo8cPrsSQQgpXGhNWqPA6Zhn6Ff49k.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>IOI Corp said the plantation segment profit for 1Q26 of RM423.3mil was 14% higher than the profit for 1Q25 of RM370mil. (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>PETALING JAYA: IOI Corp Bhd expects its operating and financial performance for the remaining quarters of its current financial year ending June 30, 2026 (FY26) to be resilient and satisfactory.\u003C/p>\u003Cp>In a filing with Bursa Malaysia, the plantation giant noted that crude palm oil (CPO) price had risen steadily since early July 2025, climbing from around RM4,000 per tonne to RM4,500 per tonne last month, before easing slightly to below RM4,200 per tonne.\u003C/p>\u003Cp>“Looking ahead, the potential onset of La Niña weather phenomenon, which could disrupt harvesting activities and output, together with the seasonal low production period from November 2025 to February 2026 and festive demand early next year, should provide a supportive environment for CPO price.\u003C/p>\u003Cp>“Overall, we expect CPO price to stay above RM4,000 per tonne over the next three to four months.”\u003C/p>\u003Cp>For the first quarter ended Sept 30, 2025 (1Q26), IOI Corp’s net profit dropped to RM369.4mil from RM710.7mil previously, while revenue rose to RM3.05bil from RM2.67bil a year ago.\u003C/p>\u003Cp>IOI Corp said the plantation segment profit for 1Q26 of RM423.3mil was 14% higher than the profit for 1Q25 of RM370mil.\u003C/p>\u003Cp>“Excluding the fair value gain on biological assets and derivative financial instruments of RM21.7mil and reversal of impairment loss on plasma receivables of RM0.4mil, the segment reported an underlying profit of RM401.2mil for 1Q26.”\u003C/p>\u003Cp>The group said this was 14% higher than the underlying profit of RM353.1mil for 1Q25, due mainly to higher CPO and palm kernel prices realised, as well as higher fresh fruit bunch (FFB) production.\u003C/p>\u003Cp>Going forward, IOI Corp said FFB production is projected to be higher, driven by a larger proportion of palms reaching prime age and young palms coming into maturity, despite ongoing accelerated replanting in Sabah.\u003C/p>\u003Cp>“Improved estate management through mechanisation and digitalisation should further support productivity growth.\u003C/p>\u003Cp>“We maintain our positive outlook that the plantation segment to deliver good financial performance in FY26.”\u003C/p>\u003Cp>IOI Corp said the outlook for the refinery and commodity marketing sub-segment continues to be challenging, with sales margins to remain at very low or negative levels.\u003C/p>\u003Cp>“This is primarily driven by strong competition from Indonesian refineries due to the overcapacity situation in that country,” it said.\u003C/p>",{"id":10,"name":11},[262],{"id":14,"name":15},{"name":264,"file_name":264,"url":265},"3.jpg","https://www.ioigroup.com/storage/2726/3.jpg",{"name":267,"file_name":267,"url":268},"4.jpg","https://www.ioigroup.com/storage/2727/4.jpg","2025-11-27T03:39:08.000000Z",[],{"meta_title":257,"meta_description":272,"meta_keywords":28},"IOI Corp said the plantation segment profit for 1Q26 of RM423.3mil was 14% higher than the profit for 1Q25 of RM370mil. (File pic by IOI Corporation)....",{"id":274,"title":275,"date":276,"body":277,"source":278,"type":281,"image":283,"highlight_image":286,"published":22,"is_featured":22,"updated_at":289,"created_at":289,"content_type":24,"related_news":290,"metatag":291},935,"IOI Corp profit nearly halves in 1Q on absence of hefty forex gains","2025-11-26T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/yCuYWqk4V0kRQgLuv9Hn4OetFWMM2XpbFFwF96Sw.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>(File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>KUALA LUMPUR (Nov 26): IOI Corp Bhd’s (KL:IOICORP) first-quarter net profit fell 48% from last year’s high base, which was boosted by large foreign exchange (forex) gains.\u003C/p>\u003Cp>Net profit for the three months ended Sept 30, 2025 (1QFY2026), dropped to RM369.4 million from RM710.7 million a year earlier, as revenue climbed 14.2% to RM3.05 billion from RM2.67 billion, according to the plantation group’s bourse filing on Wednesday (Nov 26).\u003C/p>\u003Cp>The group booked a forex gain of RM1.4 million in 1QFY2026, dwarfed by the RM365.9 million logged in 1QFY2025. Excluding non-underlying items, which also includes fair value changes, underlying profit before tax was up 41.7% at RM508.8 million versus RM359.1 million.\u003C/p>\u003Cp>No dividend was proposed for the quarter.\u003C/p>\u003Cp>The group said the upstream segment saw higher average released prices of crude palm oil (CPO) and palm kernel, while fresh fruit bunches (FFB) production also improved.\u003C/p>\u003Cp>For the downstream segment, its resource-based manufacturing segment saw higher underlying earnings from its refinery and oleochemical subsegments, which saw better margins. However, it faced a RM41.7 million fair value loss on derivatives, compared to a RM70.3 million gain in the same quarter last year.\u003C/p>\u003Cp>IOI Corp expects crude palm oil (CPO) prices to stay supported due to possible La Niña-related supply disruptions, seasonally low output from November to February and festive demand early next year. It forecasts CPO prices to remain above RM4,200 per tonne over the next three to four months.\u003C/p>\u003Cp>The group said fresh fruit bunch (FFB) production should rise as more palms reach prime and mature age.\u003C/p>\u003Cp>However, its downstream business remains weak. Refining and commodity marketing margins are low or negative, while oleochemicals face tough conditions due to soft consumer demand.\u003C/p>\u003Cp>IOI Corp also noted that expected US interest rate cuts may strengthen the ringgit but US trade politics and geopolitical tensions could still cause currency volatility.\u003C/p>\u003Cp>IOI Corp's shares ended one sen or 0.25% lower at RM4.07, valuing the group at RM25.58 billion.\u003C/p>",{"id":279,"name":280},104,"Edge CEO Morning Brief",[282],{"id":14,"name":15},{"name":284,"file_name":284,"url":285},"6.jpg","https://www.ioigroup.com/storage/2724/6.jpg",{"name":287,"file_name":287,"url":288},"Building.jpg","https://www.ioigroup.com/storage/2725/Building.jpg","2025-11-27T03:32:54.000000Z",[],{"meta_title":275,"meta_description":292,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR (Nov 26): IOI Corp Bhd’s (KL:IOICORP) first-quarter net profit fell 48% from last year’s high base, which w...",{"id":294,"title":295,"date":296,"body":297,"source":298,"type":299,"image":301,"highlight_image":304,"published":22,"is_featured":22,"updated_at":306,"created_at":307,"content_type":24,"related_news":308,"metatag":309},933,"Bright outlook for IOI on coconut mill development","2025-11-10T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/ddHCONptHoPepHxhPq2oQTRrBTtiav6dCmIgkIgD.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>(File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp> \u003C/p>\u003Cp>PETALING JAYA: Analysts have maintained their “buy” call on IOI Corp Bhd after the plantation giant says it has, together with Mega Star Holding Pte Ltd, signed a joint venture to develop Malaysia’s first state-of-the-art, integrated and sustainable coconut mill complex in Segamat, Johor.\u003C/p>\u003Cp>MBSB Research said the venture strategically complements IOI Corp’s existing upstream coconut operations, enabling the group to expand its production of high-value lauric-based derivatives and strengthen its position in the specialty oils and fats segment.\u003C/p>\u003Cp>It also said it reckoned China-based Mega Star will bring strong downstream expertise, while the collaboration will complement IOI Corp’s move into value-added lauric products and strengthen its access to the China and Taiwan food and beverage markets.\u003C/p>\u003Cp>MBSB Research said it believed IOI Corp was investing in this venture because of tight supply and a firm price trend.\u003C/p>\u003Cp>“Global coconut oil supply remains structurally tight, constrained by ageing trees in the Philippines and Indonesia (which account for over 70% of global output) and limited replanting progress,” it said.\u003C/p>\u003Cp>It noted that as of early November, benchmark coconut oil prices in Rotterdam were hovering around US$1,600 to US$1,650 per tonne, still commanding a 40% to 45% premium over palm kernel oil (PKO).\u003C/p>\u003Cp>The persistent spread reflects a structurally tight supply situation and underlines the rationale for upstream investment, it added.\u003C/p>\u003Cp>Additionally, MBSB Research said compared to its closest peer, United Plantations (UP) Bhd, IOI Corp’s coconut expansion plan is relatively similar in scale, targeting around 5,000ha over the next five years versus UP’s 4,627ha.\u003C/p>\u003Cp>Unlike UP, IOI Corp’s investment extends beyond upstream cultivation into processing and value-chain integration, enabling margin capture from refined lauric products, it said.\u003C/p>\u003Cp>“Coconut derivatives generally trade at a higher premium, thanks to their more consistent fatty acid profile.\u003C/p>\u003Cp>“This is expected to drive sustained profit expansion, with coconut-based products complementing and enhancing the profitability of the existing PKO portfolio over the long term.”\u003C/p>\u003Cp>MBSB Research has an unchanged target price of RM4.42 on the stock.\u003C/p>\u003Cp>At last look, it was RM4.06.\u003C/p>\u003Cp>In a statement, IOI Corp said the joint venture combines the core business strengths of both corporations, unlocking synergies that will drive growth and expand the coconut-based product portfolio.\u003C/p>\u003Cp>Under this strategic partnership, IOI Corp will off-take and market the coconut oil to its associate companies and customers in the European Union and the United States, while Mega Star will leverage its group network to off-take and market the concentrated coconut water to China and other North-East Asian countries, the firm said.\u003C/p>\u003Cp>Furthermore, IOI Corp said the complex will process matured coconuts into high-value downstream products, namely coconut oil and concentrated coconut water.\u003C/p>\u003Cp>“It is the first coconut mill complex of its kind to utilise the latest robotic and IR 4.0 processing equipment and incorporate a self-generating energy system by utilising its by-product coconut husks as biofuel in the production process.\u003C/p>\u003Cp>“There is also a plan to convert another by-product, coconut shells, into high-value activated carbon in the near future in line with IOI Corp’s strategy to adopt the circular economy model,” the group said.\u003C/p>\u003Cp>It said the integrated coconut mill complex, involving an estimated investment cost of RM100mil, will have a processing capacity of 100,000 coconuts per day upon its completion in the fourth quarter of financial year 2027.\u003C/p>",{"id":10,"name":11},[300],{"id":14,"name":15},{"name":302,"file_name":302,"url":303},"building.jpg","https://www.ioigroup.com/storage/2716/building.jpg",{"name":302,"file_name":302,"url":305},"https://www.ioigroup.com/storage/2717/building.jpg","2025-11-11T03:33:12.000000Z","2025-11-10T02:46:00.000000Z",[],{"meta_title":295,"meta_description":310,"meta_keywords":28},"(File pic by IOI Corporation). PETALING JAYA: Analysts have maintained their “buy” call on IOI Corp Bhd after the plantation giant says it has, togeth...",{"id":312,"title":313,"date":296,"body":314,"source":315,"type":318,"image":320,"highlight_image":323,"published":22,"is_featured":22,"updated_at":325,"created_at":326,"content_type":24,"related_news":327,"metatag":328},934,"Will IOI Corp’s RM100 Million Coconut Venture Pay Off?","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:686/386;\" src=\"https://www.ioigroup.com/storage/editor-images/eZkgpA2DMtO0NbFa55ItAO5Ee4r4AkJlq0xRkwXQ.webp\" width=\"686\" height=\"386\">\u003Cfigcaption>(File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp> \u003C/p>\u003Cp>Palm oil giant IOI Corporation Berhad (IOI Corp) is betting big on coconuts. Through a RM100 million joint venture with China’s Mega Star, the group plans to build its first integrated coconut processing complex in Segamat, Johor, marking a brave diversification into a niche but fast-growing segment of the edible oils market.\u003C/p>\u003Cp>The project — set for completion in late 2027 — could signal IOI Corp’s next strategic chapter beyond palm, as global demand for plant-based, sustainable oils accelerates. But as with all diversification bets, the question looms: will this venture bear fruit?\u003C/p>\u003Cp>The upcoming Segamat coconut oil complex will start by processing 100,000 coconuts per day, scaling up to 300,000 as IOI expands its own plantations to 5,000 hectares. It will produce coconut oil and concentrated coconut water, using robotic and Industry 4.0 systems to enhance efficiency and traceability.\u003C/p>\u003Cp>The facility will also embody IOI’s circular economy ambitions — converting coconut husks into biofuel and, eventually, shells into activated carbon.\u003C/p>\u003Cp>Analysts say the move is more than just an expansion — it’s a strategic repositioning. Coconut oil, a premium lauric-based product, trades at about USD1,600–1,650 per metric tonne, roughly 40–45% above palm kernel oil (PKO). That margin differential alone provides strong economic incentive.\u003C/p>\u003Cp>“Tight global supply and firm price trends make coconut oil an attractive long-term play,” said MBSB Research, which maintained its BUY call on IOI Corp with a target price of RM4.42.\u003C/p>\u003Cp>IOI’s partner, Mega Star, linked to the Ting Hsin International Group, brings downstream manufacturing and distribution strength in China and Taiwan — both key growth markets for premium food and beverage ingredients.\u003C/p>\u003Cp>The partnership is designed to integrate upstream production with downstream value creation, a model IOI already applies successfully in palm oil. The result could be a vertically integrated coconut supply chain, positioning IOI as a leading regional player in specialty lauric products.\u003C/p>\u003Cp>Compared to peer United Plantations (UP), which is expanding its coconut footprint to 4,627 hectares, IOI’s 5,000-hectare target is broader in scope, encompassing processing, refining, and derivative production.\u003C/p>\u003Cp>“This is IOI moving up the value chain,” one analyst noted. “They’re not just planting coconuts — they’re creating a fully integrated product ecosystem with higher margins and export potential.”\u003C/p>\u003Cp>Still, the payoff will take time. Commercialisation is not expected until 2029, meaning financial contributions will only be visible in the next corporate cycle. Execution risks — from plantation yield variability to global demand fluctuations — also loom.\u003C/p>\u003Cp>But IOI’s timing may prove advantageous. Global coconut supply remains constrained, especially in the Philippines and Indonesia, which account for over 70% of world output. With limited replanting and aging trees, prices are expected to stay firm.\u003C/p>\u003Cp>“If IOI executes well, the long-term earnings uplift could be meaningful,” MBSB Research added. “This venture could redefine IOI’s lauric portfolio and expand its relevance in high-value, sustainable food ingredients.”\u003C/p>\u003Cp>For now, IOI’s coconut complex remains a long-gestation bet — but one aligned with global consumption trends and sustainability goals. As consumers and industries shift toward cleaner, plant-based oils, IOI’s diversification could well prove prescient.\u003C/p>\u003Cp>The key question is whether the group can turn coconuts into its next growth engine — and ensure that this RM100 million venture truly bears fruit.\u003C/p>",{"id":316,"name":317},96,"Business Today",[319],{"id":14,"name":15},{"name":321,"file_name":321,"url":322},"ioi-corp.webp","https://www.ioigroup.com/storage/2718/ioi-corp.webp",{"name":321,"file_name":321,"url":324},"https://www.ioigroup.com/storage/2719/ioi-corp.webp","2025-11-11T04:28:10.000000Z","2025-11-10T03:01:23.000000Z",[],{"meta_title":313,"meta_description":329,"meta_keywords":28},"(File pic by IOI Corporation). Palm oil giant IOI Corporation Berhad (IOI Corp) is betting big on coconuts. Through a RM100 million joint venture with...",{"id":331,"title":332,"date":333,"body":334,"source":335,"type":338,"image":340,"highlight_image":343,"published":22,"is_featured":22,"updated_at":345,"created_at":346,"content_type":24,"related_news":347,"metatag":348},931,"IOI Corp partners Singapore’s Mega Star to build RM100m sustainable coconut mill in Johor","2025-11-06T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:850/482;\" src=\"https://www.ioigroup.com/storage/editor-images/SPUnfhOIx1sKkUjs7ohOv1dUoIMm0yPhlnJAz47i.jpg\" width=\"850\" height=\"482\">\u003C/figure>\u003Cp> \u003C/p>\u003Cp>IOI Corp Bhd has teamed up with Singapore-based Mega Star Holding Pte Ltd to develop Malaysia's first integrated and sustainable coconut mill complex in Segamat, Johor, with an estimated investment of RM100 million.\u003C/p>\u003Cp>Mega Star, affiliated with China's Ting Hsin International Group, brings extensive food and beverage market access across China and Taiwan. \u003C/p>\u003Cp>The joint venture aims to combine IOI's global expertise in the edible oil sector with Mega Star's distribution network to expand their coconut-based product portfolio.\u003C/p>\u003Cp>Under the partnership, IOI will offtake and market coconut oil to its associate companies and customers in the European Union and the US, while Mega Star will handle the marketing of concentrated coconut water in China and Northeast Asia.\u003C/p>\u003Cp>Scheduled for completion in the fourth quarter of 2027, the Segamat complex will initially process 100,000 coconuts per day, with plans to scale up to 300,000 coconuts daily as IOI's plantations mature and expand to about 5,000 hectares. \u003C/p>\u003Cp>Located near IOI's Johor plantation landbank and the Inland Port of Segamat, the site will benefit from efficient raw material supply and logistics. \u003C/p>\u003Cp>The high-tech complex will employ robotic and IR 4.0 processing systems, alongside a self-generating bioenergy system using coconut husks as fuel.\u003C/p>\u003Cp>IOI also plans to convert coconut shells into activate carbon, reinforcing its circular economy strategy.\u003C/p>\u003Cp>IOI Group MD and CEO Datuk Lee Yeow Chor said the venture marks a \"significant milestone\" in diversifying into the coconut segment. \u003C/p>\u003Cp>\"By combining IOI's operational excellence and access to the international edible oil market with Mega Star's strong market access to the food and beverage sector in China, we aim to deliver high-quality and sustainable coconut products to meet growing market demand,\" he said.\u003C/p>\u003Cp>Mega Star Executive Director CM Wei said the collaboration underscores both parties' shared commitment to innovation and sustainability.\u003C/p>\u003Cp>\"Through this collaboration, we demonstrate our shared commitment to driving innovation and building a green and sustainable value chain,\" he said. \u003C/p>",{"id":336,"name":337},10,"The Malaysian Reserve",[339],{"id":14,"name":15},{"name":341,"file_name":341,"url":342},"IOI-Group-1.jpg","https://www.ioigroup.com/storage/2712/IOI-Group-1.jpg",{"name":341,"file_name":341,"url":344},"https://www.ioigroup.com/storage/2713/IOI-Group-1.jpg","2025-11-07T03:39:48.000000Z","2025-11-07T03:23:09.000000Z",[],{"meta_title":332,"meta_description":349,"meta_keywords":28}," IOI Corp Bhd has teamed up with Singapore-based Mega Star Holding Pte Ltd to develop Malaysia's first integrated and sustainable coconut mill complex...",{"id":351,"title":352,"date":333,"body":353,"source":354,"type":355,"image":357,"highlight_image":360,"published":22,"is_featured":22,"updated_at":362,"created_at":363,"content_type":24,"related_news":364,"metatag":365},932,"IOI Corp, Mega Star to build RM100mil integrated coconut mill in Johor","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:700/466;\" src=\"https://www.ioigroup.com/storage/editor-images/KpxSLu7L014C3pJ3JPMFTDtOC0lmUcq5uHztIAVU.webp\" width=\"700\" height=\"466\">\u003C/figure>\u003Cp>\u003Cbr>PETALING JAYA: IOI Corp Bhd, together with Mega Star Holding Pte Ltd, have signed a joint venture to develop Malaysia’s first state-of-the-art, integrated and sustainable coconut mill complex in Segamat, Johor.\u003C/p>\u003Cp>Mega Star, an investment company based in Singapore, is affiliated to Ting Hsin International Group, a China-based conglomerate which has an extensive food and beverage business across China and Taiwan.\u003C/p>\u003Cp>In a statement, IOI Corp said the integrated coconut mill complex, involving an estimated investment cost of RM100mil, will have a processing capacity of 100,000 coconuts per day upon its completion in the fourth quarter of 2027.\u003C/p>\u003Cp>“The complex is designed to progressively scale up production to 300,000 coconuts per day as the existing trees mature and IOI’s coconut plantations are expanded to approximately 5,000 hectares within the next two years.”\u003C/p>\u003Cp>The complex will process matured coconuts into high-value downstream products, namely coconut oil and concentrated coconut water.\u003C/p>\u003Cp>It is the first coconut mill complex of its kind to utilise the latest robotic and IR 4.0 processing equipment, and incorporate a self-generating energy system by utilising its by-product coconut husks as biofuel in the production process.\u003C/p>\u003Cp>“There is also a plan to convert another by-product, coconut shells, into high-value activated carbon in the near future in line with IOI’s strategy to adopt the circular economy model,” said IOI Corp.\u003C/p>",{"id":10,"name":11},[356],{"id":14,"name":15},{"name":358,"file_name":358,"url":359},"3609508.webp","https://www.ioigroup.com/storage/2714/3609508.webp",{"name":358,"file_name":358,"url":361},"https://www.ioigroup.com/storage/2715/3609508.webp","2025-11-07T03:40:13.000000Z","2025-11-07T03:31:09.000000Z",[],{"meta_title":352,"meta_description":366,"meta_keywords":28},"PETALING JAYA: IOI Corp Bhd, together with Mega Star Holding Pte Ltd, have signed a joint venture to develop Malaysia’s first state-of-the-art, integr...",{"id":368,"title":369,"date":370,"body":371,"source":372,"type":373,"image":375,"highlight_image":378,"published":22,"is_featured":22,"updated_at":381,"created_at":382,"content_type":24,"related_news":383,"metatag":384},927,"CPO prices to hold above RM4,000 in next three months amid tight supply — IOI Corp CEO","2025-11-05T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/1ceTX4mrgB9o2gRdNjgL3QoMUT4byD634r50vePY.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>(File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>PUTRAJAYA (Nov 4): Crude palm oil (CPO) prices are likely to stay above RM4,000 per tonne over the next three months, supported by tighter supply during the seasonal low production period, said IOI Corp Bhd (KL:\u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://theedgemalaysia.com/askedge/klse/1961\">IOICORP\u003C/a>) managing director and CEO Datuk Lee Yeow Chor.\u003C/p>\u003Cp>Lee noted that CPO prices had eased slightly to below RM4,200 per tonne over the past week, mainly due to “unexpectedly high” production in Malaysia — particularly in East Malaysia, where estates are seeing double-digit output growth.\u003C/p>\u003Cp>Prices have also been weighed down by China’s resumption of soybean oil imports from the US, he added.\u003C/p>\u003Cp>“After the peak in October, we’re now entering the seasonal low production period from November to February. Weather is always a big factor, and with La Niña expected this year — which typically disrupts harvesting and output — we foresee production and stock levels declining in the coming months,\" he said at a press conference after the group's annual general meeting.\u003C/p>\u003Cp>“This should create a supportive environment for palm oil prices to stay healthy — and by healthy, I mean above RM4,000 per tonne over the next three to four months,” he added.\u003C/p>\u003Cp>The benchmark CPO futures contract for February 2026 delivery closed at RM4,168 per tonne on Bursa Malaysia Derivatives on Tuesday.\u003C/p>\u003Cp>\u003Cstrong>To double organic palm oil acreage by 2027\u003C/strong>\u003C/p>\u003Cp>IOI Corp plans to double its organic palm oil cultivation area to 2,500ha by 2027, from the current 1,128ha.\u003C/p>\u003Cp>Lee said organic oil palm cultivation holds strong potential in premium markets that value sustainability, traceability, environmental stewardship and healthier product choices.\u003C/p>\u003Cp>“We started last year and have already begun selling organic palm oil at a good premium, particularly to markets like Europe,” he said. “Given the encouraging response, we decided to expand our organic palm oil acreage by about double. The certification process takes three years, as we must demonstrate consistent organic practices before the palm oil can be certified.\u003C/p>\u003Cp>‘Organic’ means avoiding all forms of chemicals — whether fertilisers or pesticides, Lee said. \"It involves not so much investment but more innovation — transforming long-standing practices of nearly 100 years that relied on chemical fertilisers and pesticides, and finding alternative methods,\" he added.\u003C/p>\u003Cp>IOI Corp shares eased three sen to close at RM4.04 on Tuesday, valuing the integrated plantation group at RM25.39 billion.\u003C/p>",{"id":279,"name":280},[374],{"id":14,"name":15},{"name":376,"file_name":376,"url":377},"Field.jpg","https://www.ioigroup.com/storage/2703/Field.jpg",{"name":379,"file_name":379,"url":380},"FieldLarge.jpg","https://www.ioigroup.com/storage/2704/FieldLarge.jpg","2025-11-05T09:21:32.000000Z","2025-11-05T08:10:16.000000Z",[],{"meta_title":369,"meta_description":385,"meta_keywords":28},"(File pic by IOI Corporation).PUTRAJAYA (Nov 4): Crude palm oil (CPO) prices are likely to stay above RM4,000 per tonne over the next three months, su...",{"id":387,"title":388,"date":370,"body":389,"source":390,"type":391,"image":393,"highlight_image":396,"published":22,"is_featured":22,"updated_at":399,"created_at":400,"content_type":24,"related_news":401,"metatag":402},928,"IOI Corp ramps up risk screening for Indonesian investments amid land grab concerns","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/2NDSon46g9eboFJFsSE2qqyNI7RA2lIs5u33jgBO.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>IOI Corp Bhd MD and CEO Datuk Lee Yeow Chor (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>PUTRAJAYA (Nov 4): IOI Corp Bhd (KL:IOICORP) will conduct more rigorous risk assessments before undertaking new investments or land acquisitions in Indonesia, according to its managing director and chief executive officer Datuk Lee Yeow Chor.\u003C/p>\u003Cp>This decision stems from growing concerns over Indonesia’s large-scale land seizures, primarily targeting oil palm plantations and mining areas allegedly operating without proper permits, Lee told reporters on Tuesday after the group’s annual general meeting.\u003C/p>\u003Cp>IOI Corp is currently unaffected by the Indonesian government’s actions, Lee said.\u003C/p>\u003Cp>“There was a gazette announcement by the [Indonesian] government in March this year. I think there were many companies listed there (affected by the land seizure). Fortunately, our company was not listed — that means we are safe from this. But of course, we will undertake more risk assessments on that front, given the Indonesian government’s policies in this area,” he said.\u003C/p>\u003Cp>Despite these crackdowns on illegal land use, Indonesia remains an attractive investment destination, Lee said. He also noted that the seizures have affected only a minimal fraction of plantation companies’ total planted areas.\u003C/p>\u003Cp>“So far, we still see Indonesia as an investor-friendly country. Even these actions on plots of land planted within gazetted forest reserves only affect a very small portion of plantation companies’ total planted areas. In most cases, it’s less than 1% or 2%,” he said.\u003C/p>\u003Cp>“In any business, there will always be risks. What’s important is that we have a rigorous risk management framework — we go in with our eyes wide open. And due diligence is very important,” he added.\u003C/p>\u003Cp>He also shared that the group has a threshold it \"won’t go beyond\" for high-risk investments. \"But naturally, in a riskier area, we would expect higher risk-adjusted returns, because the returns should reflect the level of risk we’re taking,” he said.\u003C/p>\u003Cp>According to IOI Corp’s latest annual report, the group’s plantation land bank in Indonesia totals about 26,444 hectares, spread across four estates in West Kalimantan.\u003C/p>\u003Cp>The integrated palm oil group also holds an indirect 32.1% stake in Bumitama Agri Ltd, which is involved in oil palm cultivation and milling in Indonesia.\u003C/p>\u003Cp>Shares of IOI Corp closed down three sen or 0.74% at RM4.04 on Tuesday, valuing the group at RM25.46 billion.\u003C/p>",{"id":279,"name":280},[392],{"id":14,"name":15},{"name":394,"file_name":394,"url":395},"Dato.jpg","https://www.ioigroup.com/storage/2705/Dato.jpg",{"name":397,"file_name":397,"url":398},"DatoLarge.jpg","https://www.ioigroup.com/storage/2706/DatoLarge.jpg","2025-11-05T09:21:50.000000Z","2025-11-05T08:14:06.000000Z",[],{"meta_title":388,"meta_description":403,"meta_keywords":28},"IOI Corp Bhd MD and CEO Datuk Lee Yeow Chor (File pic by IOI Corporation).PUTRAJAYA (Nov 4): IOI Corp Bhd (KL:IOICORP) will conduct more rigorous risk...",{"id":405,"title":406,"date":370,"body":407,"source":408,"type":409,"image":411,"highlight_image":414,"published":22,"is_featured":22,"updated_at":417,"created_at":418,"content_type":24,"related_news":419,"metatag":420},929,"IOI Corp eyes 300MW solar capacity in green energy drive","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/08ciG6CfkQjMcgBSzk7tqUY7pgIdbJTsicgXIALg.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>(File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>PUTRAJAYA (Nov 4): IOI Corp Bhd (KL:IOICORP) is exploring the development of large-scale solar power projects with a potential capacity of up to 300 megawatts (MW) as part of the plantation group’s strategic push into renewable energy.\u003C/p>\u003Cp>The group has already identified several of its plantation estates in Johor with high solar exposure and located near power substations that make them suitable for solar power generation, said managing director and chief executive officer Datuk Lee Yeow Chor.\u003C/p>\u003Cp>Lee, however, declined to disclose how much land has been earmarked for this venture.\u003C/p>\u003Cp>“Being a relatively large landowner, we will be looking to establish a solar plant of a certain size. I would say a larger one, at least more than 300MW. We have the advantage of having sufficient land to undertake a large-scale project,” Lee told reporters after the group's annual general meeting on Tuesday.\u003C/p>\u003Cp>“We are still exploring this and have nothing concrete to announce yet. We don't have any targets. The potential sites are within our existing oil palm estates,” Lee added.\u003C/p>\u003Cp>According to IOI Corp’s latest annual report, the group's total plantation land bank in Malaysia is about 126,700 hectares (ha), with 22,958 ha located in Johor.\u003C/p>\u003Cp>IOI Corp’s foray into renewable energy is a key component of its five-year strategic roadmap (2025–2029), which includes diversifying into new growth areas like solar power. The group first announced this plan last year.\u003C/p>\u003Cp>The move aligns with a wider trend among plantation companies, such as SD Guthrie Bhd (KL:SDG), which are venturing into the green energy space to leverage their land assets.\u003C/p>\u003Cp>On Tuesday, shares of IOI Corp slipped three sen to close at RM4.04, giving the integrated plantation group a market capitalisation of RM25.39 billion.\u003C/p>",{"id":279,"name":280},[410],{"id":14,"name":15},{"name":412,"file_name":412,"url":413},"Solar.jpg","https://www.ioigroup.com/storage/2707/Solar.jpg",{"name":415,"file_name":415,"url":416},"SolarLarge.jpg","https://www.ioigroup.com/storage/2708/SolarLarge.jpg","2025-11-05T09:22:15.000000Z","2025-11-05T08:19:34.000000Z",[],{"meta_title":406,"meta_description":421,"meta_keywords":28},"(File pic by IOI Corporation).PUTRAJAYA (Nov 4): IOI Corp Bhd (KL:IOICORP) is exploring the development of large-scale solar power projects with a pot...",{"id":423,"title":424,"date":370,"body":425,"source":426,"type":427,"image":429,"highlight_image":431,"published":22,"is_featured":22,"updated_at":433,"created_at":433,"content_type":24,"related_news":434,"metatag":435},930,"IOI Corp to focus on improving yields","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/RS3PmXy4Ua8F63zeQZd2J61Co88MGTOqpTIUC4mb.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>Palm oil producer looks to diversify its earnings base and boost its renewable energy portfolio as part of the group's five-year plan (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>PUTRAJAYA: IOI Corp Bhd is exploring plans to turn portions of its aged plantation land into large-scale solar farms, as the palm oil producer looks to diversify its earnings base and boost its renewable energy portfolio.\u003C/p>\u003Cp>The company has identified several estates with “reasonably high” irradiance levels that are located near Tenaga Nasional Bhd’s power exchange stations, according to managing director and chief executive officer Datuk Lee Yeow Chor.\u003C/p>\u003Cp>“Being a relatively large land owner, the solar plant that we are looking to establish has to be of a certain size, at least more than 300 megawatts,” Lee told reporters after the group’s AGM on Monday.\u003C/p>\u003Cp>“We have the advantage of having the land needed to undertake a big scale project.”\u003C/p>\u003Cp>He added, however, that the company is “still exploring opportunities for solar projects and there is nothing concrete yet,” and has yet to determine how much land it intends to allocate.\u003C/p>\u003Cp>In November 2024, IOI Corp said it had allocated part of its aged plantation landbank in Johor to build a solar power plant, though details such as land size were not disclosed as the project was still in its early stages.\u003C/p>\u003Cp>At that time, the group said the solar power project will be developed through a consortium comprising three or four partners and it hopes to secure regulatory approvals for the project by the first quarter of 2025.\u003C/p>\u003Cp>While the move by planters’ to turn less productive and older aged tree areas into solar project sites is seen as a way to diversify earnings and improve the companies’ environmental, social and governance credentials, critics have raised concerns that converting fertile land, which could otherwise be used for other purposes like food production, is an inefficient use of resources.\u003C/p>\u003Cp>Another notable plantation player that is making a push into renewable energy is SD Guthrie Bhd (SDG), formerly known as Sime Darby Plantation Bhd.\u003C/p>\u003Cp>It has announced major plans to participate in solar farming initiatives in the country.\u003C/p>\u003Cp>Since 2018, SDG has leased a significant portion of its land for solar farms under the government’s large-scale solar schemes. SDG has set a renewable energy capacity target of one-gigawatt.\u003C/p>\u003Cp>For IOI Corp, Lee said renewables like solar and pulp-based biomass utilisation is one of the areas of emphasis under the group’s five-year strategic roadmap (2025 to 2029) which was unveiled in January this year.\u003C/p>\u003Cp>“Going forward, we will continue to focus on improving yields and reducing labour dependency under the five-year plan. The newer ones that we are working very hard on are the renewables.\u003C/p>\u003Cp>“Apart from solar, we have also embarked on palm biomass processing like converting palm trunks into wood blocks. The plant has been operational since early last year.\u003C/p>\u003Cp>“We also have a joint venture to convert empty fruit bunches into pulp and this has the potential to scale further as the global demand for pulp is huge,” he said.\u003C/p>\u003Cp>On top of that, Lee noted the group is also involved in crop diversification, particularly its fully integrated coconut business.\u003C/p>\u003Cp>To date, IOI Corp has planted 3,600 ha of coconuts in Johor, with a target to expand this to 5,000 ha by financial year 2027 (FY27).\u003C/p>\u003Cp>This move is expected to broaden the group’s income stream, looking at the attractive prices of coconuts.\u003C/p>\u003Cp>“The price of coconuts have gone up a lot to around US$2,000 per tonne. In comparison, palm oil is only about US$1,000 per tonne,” Lee said.\u003C/p>\u003Cp>He added the construction of a coconut processing mill is expected to commence in the first quarter of 2026.\u003C/p>\u003Cp>The facility, which will process coconuts into both coconut oil and coconut water, is expected to be operational within 18 months.\u003C/p>\u003Cp>These initiatives are part of the group’s resource based manufacturing (RBM) segment which consists of oleochemicals and specialty food ingredients.\u003C/p>\u003Cp>The RBM segment has been seeing margin compressions in the last few years amid stiff competition from Indonesian players as well as concerns over global economic uncertainties.\u003C/p>\u003Cp>“Margins for this segment have not been good for some time, maybe three years, and it is still continuing in this manner.\u003C/p>\u003Cp>“We are unable to give a definite time frame on when it will improve,” Lee said.\u003C/p>\u003Cp>He explained that margins for the specialty food ingredients space under the RBM segment “has been very good.\u003C/p>\u003Cp>The group’s presence in this operation is through its associate company, Bunge Loders Croklaan.\u003C/p>\u003Cp>However, as for the oleochemicals segment – which entails pharmaceutical ingredients, as well as personal care and cosmetic products – Lee said “it is very much dependent on the global economic environment”, given that the group’s oleochemical products are traded globally.\u003C/p>\u003Cp>He added that currently the global economy “has not been very good, but neither is it bad”.\u003C/p>\u003Cp>Further, as part of the group’s five-year plan, IOI Corp is also strengthening its research and development capabilities to drive new product development, mechanisation, and digitalisation across operations.\u003C/p>\u003Cp>Lee said the emphasis on mechanisation efforts is not so much cost savings but it is to reduce the reliance on manual labour.\u003C/p>\u003Cp>“The other objective is to improve the turnaround time. When it comes to mechanisation, it is not the mechanisation on the harvesting aspect but the evacuation of fresh fruit bunches; the process of collecting and transporting oil palm bunches to the mill.\u003C/p>\u003Cp>This improves the turnaround time, which in turn improves the quality of the crop. So far our mechanisation efforts have led to a reduction of about 20% of our manual labour requirement,” Lee said.\u003C/p>\u003Cp>IOI Corp has a goal of reaching a worker-to-land hectarage ratio of 1:9.5 by the end of its five-year plan.\u003C/p>\u003Cp>“We are almost at 1:9. In Peninsular Malaysia, we can achieve around 1:10.5, while in Sabah it is about 1:9. In Indonesia, it is still slightly more labour-intensive,” Lee said.\u003C/p>\u003Cp>\u003Cstrong>CPO prices likely to stay above RM4,000 per tonne\u003C/strong>\u003C/p>\u003Cp>Lee expects crude palm oil (CPO) prices to stay above RM4,000 per tonne over the next three months, supported by tighter supply during the seasonal low production period.\u003C/p>\u003Cp>“CPO prices have been having a good run since the end of November last year, well above RM4,000 to about the RM4,500 level. CPO prices came down a bit around May to August to around RM3,800 and below. Two months ago, prices started to come up again and we have been having a good two months where prices are approaching RM4,300 to RM4,500.\u003C/p>\u003Cp>“These are good prices, compared with historical levels. However, having said that, prices have come down slightly to below RM4,200 per tonne over the past week partly due to the unexpected high production in Malaysia,” he said.\u003C/p>\u003Cp>Lee noted that plantations in East Malaysia are recording double-digit production growth, “in the teens”. This coupled with the recent announcement between the United States and China — where China agreed to resume purchases of soybean oil from the US after being absent from the market this year — has exerted some pressure on CPO prices.\u003C/p>\u003Cp>“With China increasing their purchases of soybean oil, the implication is that they may buy less palm oil,” he said.\u003C/p>\u003Cp>Lee added while palm oil stocks have risen to around 2.4 million tonnes, this was “expected and healthy”. He said following the production peak in October, the industry is expected to head into the seasonal low period from November through February.\u003C/p>\u003Cp>“Weather is always a big factor, and with La Niña expected this year, it will disrupt the production and the harvesting of palm oil, and stock levels will decline accordingly. This will create a friendly environment for palm oil prices to remain healthy and by healthy I mean above RM4,000 per tonne over the next three to four months,” he said.\u003C/p>",{"id":10,"name":11},[428],{"id":14,"name":15},{"name":170,"file_name":170,"url":430},"https://www.ioigroup.com/storage/2709/Harvest.jpg",{"name":173,"file_name":173,"url":432},"https://www.ioigroup.com/storage/2710/HarvestLarge.jpg","2025-11-05T08:34:39.000000Z",[],{"meta_title":424,"meta_description":436,"meta_keywords":28},"Palm oil producer looks to diversify its earnings base and boost its renewable energy portfolio as part of the group's five-year plan (File pic by IOI...",{"id":438,"title":439,"date":440,"body":441,"source":442,"type":445,"image":447,"highlight_image":450,"published":22,"is_featured":22,"updated_at":453,"created_at":454,"content_type":24,"related_news":455,"metatag":456},919,"IOI Corp redesignates Abdul Wahid Omar as its new chairman","2025-11-04T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/YPgliignEGtjRiBSpHXocfIWPAPFu3rzn1FG33fa.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>Abdul Wahid, 61, succeeds Tan Sri Peter Chin Fah Kui, who retired on Tuesday after serving on the board since December 2014. (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>PUTRAJAYA (Nov 4): IOI Corp Bhd (KL:\u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://theedgemalaysia.com/askedge/klse/1961\">IOICORP\u003C/a>) has redesignated its director Tan Sri Abdul Wahid Omar as its independent non-executive chairman, effective Wednesday (Nov 5).\u003C/p>\u003Cp>Abdul Wahid, 61, succeeds Tan Sri Peter Chin Fah Kui, who retired on Tuesday after serving on the board since December 2014.\u003C/p>\u003Cp>“Thank you to the board for appointing me as chairman. It has been a pleasure working with Tan Sri Peter Chin over the past five months,” Abdul Wahid told reporters after the group’s annual general meeting on Tuesday.\u003C/p>\u003Cp>“I look forward to working closely with Datuk Lee Yeow Chor (managing director and chief executive officer) and contributing further value to the company,” said Abdul Wahid, who previously served as chairman of Bursa Malaysia Bhd (KL:\u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://theedgemalaysia.com/askedge/klse/1818\">BURSA\u003C/a>).\u003C/p>\u003Cp>He also currently chairs Cypark Resources Bhd (KL:\u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://theedgemalaysia.com/askedge/klse/5184\">CYPARK\u003C/a>), World Wide Fund for Nature (WWF) Malaysia and the MySDG Foundation.\u003C/p>",{"id":443,"name":444},105,"EdgeProp Malaysia",[446],{"id":14,"name":15},{"name":448,"file_name":448,"url":449},"TSW.jpg","https://www.ioigroup.com/storage/2687/TSW.jpg",{"name":451,"file_name":451,"url":452},"TSWLarge.jpg","https://www.ioigroup.com/storage/2688/TSWLarge.jpg","2025-11-05T09:22:53.000000Z","2025-11-05T06:49:21.000000Z",[],{"meta_title":439,"meta_description":457,"meta_keywords":28},"Abdul Wahid, 61, succeeds Tan Sri Peter Chin Fah Kui, who retired on Tuesday after serving on the board since December 2014. (File pic by IOI Corporat...",{"id":459,"title":460,"date":440,"body":461,"source":462,"type":463,"image":465,"highlight_image":468,"published":22,"is_featured":22,"updated_at":470,"created_at":471,"content_type":24,"related_news":472,"metatag":473},920,"NEWS: Indonesia still on the cards for IOI Corp","\u003Cfigure class=\"media\">\u003Cdiv data-oembed-url=\"https://youtu.be/19BoQXWVALY\">\u003Cdiv style=\"position: relative; padding-bottom: 100%; height: 0; padding-bottom: 56.2493%;\">\u003Ciframe src=\"https://www.youtube.com/embed/19BoQXWVALY\" style=\"position: absolute; width: 100%; height: 100%; top: 0; left: 0;\" frameborder=\"0\" allow=\"autoplay; encrypted-media\" allowfullscreen=\"\">\u003C/iframe>\u003C/div>\u003C/div>\u003C/figure>\u003Cp>IOI Corp says that it still considers Indonesia a significant market but has upped its risk screening for investments given the current land grab concerns.\u003C/p>",{"id":109,"name":110},[464],{"id":14,"name":15},{"name":466,"file_name":466,"url":467},"EdgeTV.jpg","https://www.ioigroup.com/storage/2689/EdgeTV.jpg",{"name":466,"file_name":466,"url":469},"https://www.ioigroup.com/storage/2690/EdgeTV.jpg","2025-11-06T01:58:14.000000Z","2025-11-05T07:03:25.000000Z",[],{"meta_title":460,"meta_description":474,"meta_keywords":28},"IOI Corp says that it still considers Indonesia a significant market but has upped its risk screening for investments given the current land grab conc...",{"id":476,"title":477,"date":440,"body":478,"source":479,"type":480,"image":482,"highlight_image":484,"published":22,"is_featured":22,"updated_at":486,"created_at":487,"content_type":24,"related_news":488,"metatag":489},922,"Tan Sri Wahid Omar Takes On IOI Corp Chairman Role","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/ajFmTrRbZlr8MY62coCiFuVS5jeQduJC39ossmGQ.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>(File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>IOI Corporation Berhad has announced the appointment of Tan Sri Abdul Wahid Omar as its new Independent Non-Executive Chairman, effective 5 November 2025, following the retirement of Tan Sri Peter Chin Fah Kui at the conclusion of the company’s Annual General Meeting yesterday.\u003C/p>\u003Cp>Tan Sri Abdul Wahid, 61, is widely regarded as one of Malaysia’s most respected corporate leaders, with a distinguished career spanning more than three decades across both the public and private sectors.\u003C/p>\u003Cp>He previously served as Chairman of Bursa Malaysia Berhad, completing his five-year tenure in April 2025. Before that, he was Group Chairman of Permodalan Nasional Berhad (PNB) from 2016 to 2018, and Minister in the Prime Minister’s Department in charge of Economic Planning from 2013 to 2016, where he oversaw national economic policy coordination.\u003C/p>\u003Cp>Tan Sri Abdul Wahid is also well known for his leadership in Malaysia’s leading government-linked companies (GLCs). He successfully led UEM Group Berhad through a turnaround as Managing Director and CEO beginning in 2001, before becoming Group CEO of Telekom Malaysia Berhad (TM) in 2004, where he steered TM’s regional mobile expansion and the demerger of Axiata Group Berhad.\u003C/p>\u003Cp>He later helmed Malayan Banking Berhad (Maybank) as President and CEO from 2008 to 2013, where he also served as Chairman of The Association of Banks in Malaysia during his tenure.\u003C/p>\u003Cp>Following his redesignation, Tan Sri Abdul Wahid will relinquish his position as Senior Independent Director of IOI Corporation.\u003C/p>",{"id":316,"name":317},[481],{"id":14,"name":15},{"name":448,"file_name":448,"url":483},"https://www.ioigroup.com/storage/2693/TSW.jpg",{"name":451,"file_name":451,"url":485},"https://www.ioigroup.com/storage/2694/TSWLarge.jpg","2025-11-05T07:27:59.000000Z","2025-11-05T07:18:47.000000Z",[],{"meta_title":477,"meta_description":490,"meta_keywords":28},"(File pic by IOI Corporation).IOI Corporation Berhad has announced the appointment of Tan Sri Abdul Wahid Omar as its new Independent Non-Executive Ch...",{"id":492,"title":493,"date":440,"body":494,"source":495,"type":496,"image":498,"highlight_image":500,"published":22,"is_featured":22,"updated_at":502,"created_at":502,"content_type":24,"related_news":503,"metatag":504},923,"IOI Corp charts broader growth path beyond palm oil","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/8hL9XXcfsUw3dFsjefjr77mhReboygPwqCwX8LDo.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>Group managing director and chief executive officer Datuk Lee Yeow Chor (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>KUALA LUMPUR: IOI Corp Bhd is broadening its business beyond palm oil as part of its next five-year plan, with new ventures in renewable products and value-added agriculture such as palm biomass, coconuts and organic palm oil.\u003C/p>\u003Cp>Group managing director and chief executive officer Datuk Lee Yeow Chor said the plan aims to diversify income streams, improve yields and reduce reliance on labour.\u003C/p>\u003Cp>\"Among the newer areas we are working very hard on are renewables. The one we have already embarked upon is palm biomass processing by converting palm trunks into wood blocks,\" Lee said after the company's 56th annual general meeting here today.\u003C/p>\u003Cp>He said IOI's palm wood plant has been operating since early last year, while a joint venture to turn empty fruit bunches into pulp is also progressing.\u003C/p>\u003Cp>\"This project has significant potential to scale further as global demand for pulp is huge especially in China, where our joint venture partner is based. We are producing non-wood pulp, which is very attractive to the market,\" he said.\u003C/p>\u003Cp>The group is also venturing into coconuts, driven by stronger global demand and higher prices.\u003C/p>\u003Cp>Lee said Coconut prices have climbed to around RM8,800 per tonne, about twice the RM4,400 per tonne price of palm oil.\u003C/p>\u003Cp>IOI plans to plant up to 5,000 hectares (ha) of coconuts within two years and will build a mill to produce coconut water.\u003C/p>\u003Cp>\"Construction of the coconut processing plant will begin in the first quarter of next year and is expected to take 18 months to complete, bringing it to the end of 2027,\" Lee said.\u003C/p>\u003Cp>On organic palm oil, IOI has planted 1,200ha and began selling certified organic palm oil last year at a premium. Encouraged by demand, the group plans to double its organic palm oil area to about 2,500 hectares.\u003C/p>\u003Cp>Lee said organic certification requires a three-year process to prove sustainable practices.\u003C/p>\u003Cp>\"It's not so much about capital expenditure but about innovation, changing the way we cultivate. Organic means avoiding all forms of chemical fertilisers and pesticides,\" he said.\u003C/p>\u003Cp>He added that IOI is ready to meet the European Union Deforestation Regulation (EUDR) and has already supplied compliant palm oil before the rule was deferred.\u003C/p>\u003Cp>\"Because we can already comply with the EUDR requirements and obtain a premium for it, we will be able to turn this adjustment into a business opportunity.\"\u003C/p>",{"id":53,"name":54},[497],{"id":14,"name":15},{"name":394,"file_name":394,"url":499},"https://www.ioigroup.com/storage/2695/Dato.jpg",{"name":397,"file_name":397,"url":501},"https://www.ioigroup.com/storage/2696/DatoLarge.jpg","2025-11-05T07:34:34.000000Z",[],{"meta_title":493,"meta_description":505,"meta_keywords":28},"Group managing director and chief executive officer Datuk Lee Yeow Chor (File pic by IOI Corporation).KUALA LUMPUR: IOI Corp Bhd is broadening its bus...",{"id":507,"title":508,"date":440,"body":509,"source":510,"type":511,"image":513,"highlight_image":515,"published":22,"is_featured":22,"updated_at":517,"created_at":517,"content_type":24,"related_news":518,"metatag":519},924,"IOI Corp names Abdul Wahid Omar as chairman","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/eliw9jqYmiaGAwhB3OLhzBeBYtPGqh4Q1GNH5ud6.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>IOI Corp Bhd has appointed Tan Sri Abdul Wahid Omar as its non-executive chairman. (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>KUALA LUMPUR: IOI Corp Bhd has appointed Tan Sri Abdul Wahid Omar as its non-executive chairman, effective Nov 5, the plantation giant said in a filing to Bursa Malaysia.\u003C/p>\u003Cp>Abdul Wahid, 61, succeeds Tan Sri Peter Chin Fah Kui, who retired on Tuesday after serving on the board since December 2014.\u003C/p>\u003Cp>A leading figure in Malaysia's corporate scene, Abdul Wahid brings more than three decades of leadership experience across government-linked companies, the financial sector and public service.\u003C/p>\u003Cp>He is currently chairman of Cypark Resources Bhd, World Wide Fund for Nature (WWF)-Malaysia and MySDG Foundation.\u003C/p>\u003Cp>Abdul Wahid previously served as president and chief executive officer of Malayan Banking Bhd from May 2008 to June 2013, during which he also chaired The Association of Banks in Malaysia.\u003C/p>\u003Cp>He later entered public service as a senator and minister in the Prime Minister's Department overseeing economic planning from June 2013 to June 2016.\u003C/p>\u003Cp>He subsequently became group chairman of Permodalan Nasional Bhd from August 2016 to June 2018, and more recently completed a five-year term as chairman of Bursa Malaysia Bhd on April 30, 2025.\u003C/p>",{"id":53,"name":54},[512],{"id":14,"name":15},{"name":448,"file_name":448,"url":514},"https://www.ioigroup.com/storage/2697/TSW.jpg",{"name":451,"file_name":451,"url":516},"https://www.ioigroup.com/storage/2698/TSWLarge.jpg","2025-11-05T07:46:11.000000Z",[],{"meta_title":508,"meta_description":520,"meta_keywords":28},"IOI Corp Bhd has appointed Tan Sri Abdul Wahid Omar as its non-executive chairman. (File pic by IOI Corporation).KUALA LUMPUR: IOI Corp Bhd has appoin...",{"id":522,"title":523,"date":440,"body":524,"source":525,"type":526,"image":528,"highlight_image":531,"published":22,"is_featured":22,"updated_at":534,"created_at":534,"content_type":24,"related_news":535,"metatag":536},925,"Weather woes, tight supply to keep CPO prices above RM4,000 a tonne: IOI Corp","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/VEEpPQebfLH2Rntti1Qr7FrVcWnswgsvgiHJRgpD.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>IOI Corp Bhd expects crude palm oil prices to remain above RM4,000 per tonne over the next few months. (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>KUALA LUMPUR: IOI Corp Bhd expects crude palm oil prices to remain above RM4,000 per tonne over the next few months, supported by seasonal production declines and potential weather disruptions linked to La Niña.\u003C/p>\u003Cp>Group managing director and chief executive officer Datuk Lee Yeow Chor said the company expects a healthy price range of between RM4,000 and RM4,500 per tonne through the first quarter of next year.\u003C/p>\u003Cp>\"Palm oil prices have been having a good run since late last year, reaching between RM4,300 and RM4,500 recently.\u003C/p>\u003Cp>\"Although prices have eased slightly to below RM4,200 per tonne, I would say these are still good prices by historical standards,\" he said after IOI Corp's 56th annual general meeting.\u003C/p>\u003Cp>Lee added that the recent price correction was partly due to unexpectedly high production in Malaysia, particularly in East Malaysia, where plantations have reported double-digit growth in output.\u003C/p>\u003Cp>\"Coupled with the news that China has resumed buying soybean oil from the United States, demand for palm oil has softened slightly,\" he added.\u003C/p>\u003Cp>However, Lee expects a seasonal decline in production between November and February, which could support prices going forward.\u003C/p>\u003Cp>\"We expect production to go down and stocks to ease accordingly, creating a friendly environment for palm oil prices to stay healthy, above RM4,000 per tonne in the next three to four months,\" he said.\u003C/p>\u003Cp>He added that the potential onset of La Niña could further disrupt harvesting activities, contributing to tighter supply.\u003C/p>\u003Cp>On production, Lee said Malaysia's total palm oil output this year is expected to range between 19.3 million and 19.6 million tonnes, in line with the forecasts by the Malaysian Palm Oil Board and Malaysian Palm Oil Council.\u003C/p>\u003Cp>Meanwhile, Lee said IOI Corp plans to expand its renewable energy ventures as part of its five-year strategic roadmap from 2025 to 2029.\u003C/p>\u003Cp>\"Renewables is one of our areas of emphasis. We are exploring solar energy and biomass utilisation,\" he said.\u003C/p>\u003Cp>He said IOI Corp has identified several estate sites with high solar irradiance and close proximity to Tenaga Nasional Bhd's exchange stations, making them suitable for large-scale solar development.\u003C/p>\u003Cp>\"We are aiming to establish a solar plant of at least 300 megawatts. We have the land for it, but there's nothing concrete to announce yet,\" he added.\u003C/p>",{"id":53,"name":54},[527],{"id":14,"name":15},{"name":529,"file_name":529,"url":530},"Fruits.jpg","https://www.ioigroup.com/storage/2699/Fruits.jpg",{"name":532,"file_name":532,"url":533},"FruitsLarge.jpg","https://www.ioigroup.com/storage/2700/FruitsLarge.jpg","2025-11-05T07:56:46.000000Z",[],{"meta_title":523,"meta_description":537,"meta_keywords":28},"IOI Corp Bhd expects crude palm oil prices to remain above RM4,000 per tonne over the next few months. (File pic by IOI Corporation).KUALA LUMPUR: IOI...",{"id":539,"title":540,"date":440,"body":541,"source":542,"type":543,"image":545,"highlight_image":547,"published":22,"is_featured":22,"updated_at":550,"created_at":550,"content_type":24,"related_news":551,"metatag":552},926,"IOI moves to boost market visibility, address liquidity concerns: CEO","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/HXqFmKYerHouMZCfqdX0zMjLGZSvEzw5demWyJmq.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>IOI Corp Bhd is stepping up efforts to enhance market visibility and investor engagement as it seeks to address concerns over its trading liquidity. (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>PUTRAJAYA: IOI Corp Bhd is stepping up efforts to enhance market visibility and investor engagement as it seeks to address concerns over its trading liquidity.\u003C/p>\u003Cp>Group managing director and chief executive officer Datuk Lee Yeow Chor said the plantation group has taken several measures to boost market awareness of its operations and sustainability initiatives.\u003C/p>\u003Cp>IOI Corp acknowledged market concerns after analysts suggested the company may risk exclusion from the FTSE Bursa Malaysia KLCI for failing the liquidity test several times this year.\u003C/p>\u003Cp>\"There were some questions raised about that. The company has been conducting regular analyst briefings and strengthening its presence on social media to enhance communication with investors,\" Lee said at a press conference following IOI's 56th annual general meeting here today.\u003C/p>\u003Cp>Lee added that IOI Corp had recently seen an improvement in trading activity.\u003C/p>\u003Cp>\"We noticed that the share transaction volume has gone up in recent weeks since that report. That is what I can say,\" he said.\u003C/p>\u003Cp>IOI Corp's shares have recorded relatively lower trading activity in recent months, prompting speculation that it could lose its position in the FBM KLCI, which comprises the 30 largest companies on Bursa by market capitalisation and liquidity.\u003C/p>\u003Cp>The concern arose after research houses noted that IOI Corp's stock had fallen short of the index's liquidity requirement, which measures the median daily trading volume against the number of shares in issue.\u003C/p>\u003Cp>Under the rule, a company must record a minimum monthly median daily trading volume of at least 0.04 per cent of its issued shares in at least eight of the past 12 months.\u003C/p>\u003Cp>Despite the liquidity issue, analysts said IOI Corp's market capitalisation remains comfortably within the top 30 on Bursa Malaysia.\u003C/p>\u003Cp>However, its trading performance will be closely monitored in the coming months to determine whether it can meet the index's liquidity threshold and retain its position in the benchmark index.\u003C/p>",{"id":53,"name":54},[544],{"id":14,"name":15},{"name":287,"file_name":287,"url":546},"https://www.ioigroup.com/storage/2701/Building.jpg",{"name":548,"file_name":548,"url":549},"BuildingLarge.jpg","https://www.ioigroup.com/storage/2702/BuildingLarge.jpg","2025-11-05T07:59:37.000000Z",[],{"meta_title":540,"meta_description":553,"meta_keywords":28},"IOI Corp Bhd is stepping up efforts to enhance market visibility and investor engagement as it seeks to address concerns over its trading liquidity. (...",{"id":555,"title":556,"date":557,"body":558,"source":559,"type":562,"image":565,"highlight_image":568,"published":22,"is_featured":22,"updated_at":570,"created_at":571,"content_type":24,"related_news":572,"metatag":573},917,"IOI Foundation Awards RM344,000 In Scholarships To Empower Future Leaders","2025-10-23T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:3000/2000;\" src=\"https://www.ioigroup.com/storage/editor-images/n4ayUFpzAUAl1i8aIvteOUVkZS0QiLw2nTCx1R96.jpg\" width=\"3000\" height=\"2000\">\u003Cfigcaption>Credit: IOI Corporation\u003C/figcaption>\u003C/figure>\u003Cp>KUALA LUMPUR, Oct 23 (Bernama) - IOI Foundation has awarded RM344,000 worth of scholarships to seven bright and outstanding students during the IOI Scholarship Award Ceremony 2025, held on Oct 17.\u003Cbr>\u003Cbr>The ceremony was hosted by IOI Corporation Berhad Group Chief Executive Tan Kean Hua, together with the Foundation's Executive Director Joanne Wong.\u003Cbr>\u003Cbr>IOI Foundation said the scholarships will support the recipients' tertiary studies in the fields on chemical engineering, information technology and agriculture, which are vital to Malaysia's sustainable growth.\u003Cbr>\u003Cbr>\"Through this annual programme, IOI Foundation continues to nurture young talent and empower future leaders, ensuring that education remains a crucial pathway to opportunity, progress and growth.\u003Cbr>\u003Cbr>\"As a philanthropic arm of the group, the foundation continues to enrich lives by sharing prosperity, with a focus on education, medical assistance, community enrichment and social enterprise,\" it said in a statement today.\u003Cbr>\u003Cbr>Since its establishment in 1998, IOI Foundation has awarded RM12.15 million in scholarships to 363 deserving students, reflecting IOI's long-standing commitment to education and community development.\u003Cbr>\u003Cbr>Formerly known as Yayasan Tan Sri Lee Shin Cheng, the foundation has also contributed a cumulative total of RM67,117,904 towards various community programme as of June this year.\u003C/p>\u003Cp>In the financial year 2025 alone, it channelled RM1,698,463 to 146 beneficiaries, benefitting both individuals and organisations.\u003Cbr>\u003Cbr>Other impactful educational initiatives include school improvement and repair projects, Student Adoption Programme, IOI Leadership Youth Camp and more  - all designed to inspore and empower the next generation to build a brighter future for themselves and their communities.\u003C/p>\u003Cp> \u003C/p>",{"id":560,"name":561},2,"Bernama",[563],{"id":241,"name":564},"IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng)",{"name":566,"file_name":566,"url":567},"DSC08412_resize.jpg","https://www.ioigroup.com/storage/2618/DSC08412_resize.jpg",{"name":566,"file_name":566,"url":569},"https://www.ioigroup.com/storage/2619/DSC08412_resize.jpg","2025-10-23T09:27:41.000000Z","2025-10-23T09:23:32.000000Z",[],{"meta_title":556,"meta_description":574,"meta_keywords":28},"Credit: IOI CorporationKUALA LUMPUR, Oct 23 (Bernama) - IOI Foundation has awarded RM344,000 worth of scholarships to seven bright and outstanding stu...",{"id":576,"title":577,"date":557,"body":578,"source":579,"type":580,"image":582,"highlight_image":585,"published":22,"is_featured":22,"updated_at":587,"created_at":588,"content_type":24,"related_news":589,"metatag":590},918,"IOI Corp Bags The Edge's Best Of The Best ESG Award 2025","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:4000/1638;\" src=\"https://www.ioigroup.com/storage/editor-images/2QAHUQ6sKCIMEmIqB7JfWTeHcrVjjubIRIFm8ZKA.jpg\" width=\"4000\" height=\"1638\">\u003Cfigcaption>Credit Photo: IOI Corporation\u003C/figcaption>\u003C/figure>\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1024/768;\" src=\"https://www.ioigroup.com/storage/editor-images/SyalPRzbVkSvAGBC42sJJPPxQMfn1EGCi8qxMG7M.jpg\" width=\"1024\" height=\"768\">\u003Cfigcaption>Credit Photo: IOI Corporation\u003C/figcaption>\u003C/figure>\u003Cp>KUALA LUMPUR, Oct 22 (Bernama) - IOI Corporation Bhd has won the Best of the Best award at The Edge Malaysia ESG Awards 2025, recently held on Oct 1.\u003C/p>\u003Cp>In a statement, it said this newly introduced accolade recognises IOI Corp's exceptional commitment and achievements in environmental, social, and governance (ESG) practices, marking its fourth consecutive win at the awards after securing three Gold awards in the plantation sector from 2022 to 2024. \u003C/p>\u003Cp>It said the company had surpassed its greenhouse gas (GHG) emission intensity reduction target a full year ahead of schedule.\u003C/p>\u003Cp>\"Our original goal was to achieve a 40 per cent reduction to Scope 1 and 2 GHG emissions, measured against 2015 carbon intensity emissions, by 2025.\u003C/p>\u003Cp>\"By the end of FY2025, we have reached a 46 per cent reduction,\" said IOI Crop Group Managing Director and Chief Executive Datuk Lee Yeow Chor.\u003C/p>\u003Cp>He said this milestone showed how deep decarbonisation is embedded in its business strategy, achieved through initiatives such as enhancing methane capture facilities, installing solar panels, optimising energy and resource efficiency, as well as deploying both nature-based and engineered solutions.\u003C/p>\u003Cp>Meanwhile, IOI Corp said it was also honoured for its outstanding human resource development at the HR Excellence Awards 2025 held on Oct 10. \u003C/p>\u003Cp>The company received a Gold Award for Excellence in In-House Talent Pipeline Strategy and a Silver Award for Excellence in Workplace Culture, reflecting its commitment to empowering employees and cultivating a positive and inclusive workplace environment.\u003C/p>\u003Cp>\"These achievements reinforce the company's holistic approach to sustainability and human resource development as the company continues to drive meaningful change and create long-lasting value for its stakeholders,\" it said.\u003C/p>\u003Cp>For more information about IOI Corp and its initiatives, interested parties can visit its website at https://www.ioigroup.com\u003C/p>",{"id":560,"name":561},[581],{"id":14,"name":15},{"name":583,"file_name":583,"url":584},"20251001_213604.jpg","https://www.ioigroup.com/storage/2620/20251001_213604.jpg",{"name":583,"file_name":583,"url":586},"https://www.ioigroup.com/storage/2621/20251001_213604.jpg","2025-10-23T09:50:51.000000Z","2025-10-23T09:49:09.000000Z",[],{"meta_title":577,"meta_description":591,"meta_keywords":28},"Credit Photo: IOI CorporationCredit Photo: IOI CorporationKUALA LUMPUR, Oct 22 (Bernama) - IOI Corporation Bhd has won the Best of the Best award at T...",{"id":593,"title":594,"date":595,"body":596,"source":597,"type":598,"image":600,"highlight_image":603,"published":22,"is_featured":22,"updated_at":606,"created_at":606,"content_type":24,"related_news":607,"metatag":608},916,"IOI Corp makes sustainability the foundation of long-term growth","2025-10-20T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/oGEdO4FOozMCnnblLbXaywdHmtiuc3XXtwX92Suz.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>\u003Cstrong>\"Sustainability and climate initiatives are not only a responsibility but also an overriding business strategy to shape a more resilient and successful future for ourselves over the next five years.”\u003C/strong> - Lee (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>IOI Corp Bhd (KL:IOICORP) has made continuous improvements in its ESG journey, viewing ESG initiatives not as a checklist to complete but an evolving journey. This commitment has enabled the company to win gold for the past three consecutive years in the plantation sector category at The Edge Malaysia ESG Awards, says its group managing director and CEO Datuk Lee Yeow Chor.\u003C/p>\u003Cp>This achievement enabled IOI Corp to enter the new best of the best category this year, which celebrates public-listed companies that consistently outperformed peers by winning gold for the past three Awards.\u003C/p>\u003Cp>“Each year, we raise our internal benchmarks, reflect on lessons learned and incorporate valuable stakeholder input through platforms such as our annual Sustainability Consultation Forum,” says Lee.\u003C/p>\u003Cp>“One of the most important lessons that we have learned is that ESG success requires more than leadership commitment at the top; it also depends on active participation across every level of the organisation, from the boardroom to the field.”\u003C/p>\u003Cp>Lee is proud of the company’s achievement in surpassing its greenhouse gas (GHG) emissions intensity reduction target a year ahead of schedule. The original goal was to reach a 40% reduction in Scope 1 and 2 GHG emissions intensity by 2025, measured against its 2015 carbon emissions intensity.\u003C/p>\u003Cp>By the end of its 2025 financial year, the company had managed to reduce 46% of carbon emissions intensity, says Lee.\u003C/p>\u003Cp>“We achieved this through a combination of initiatives: enhancing our methane capture facilities, installing solar panels, optimising energy and resource efficiency, as well as deploying both nature-based and engineered solutions. Just as importantly, we worked closely with our employees and stakeholders to align everyday actions with our long-term ESG goals.”\u003C/p>\u003Cp>IOI Corp’s biggest challenge in the past year has been to balance its decarbonisation targets with the operational realities on the ground, including volatile market conditions and climate-related risks such as extreme weather.\u003C/p>\u003Cp>Lee says the company addressed these issues by staying agile, doubling down on innovation, including investments in renewable energy and resource efficiency, while fostering strong internal engagement to embed sustainability and best practices into its daily operations, across all levels of business.\u003C/p>\u003Cp>“Collaboration across functions, from plantation to downstream manufacturing, ensured that our ESG performance was not siloed within each operating unit but became a shared responsibility across the group,” he says.\u003C/p>\u003Cp>“The introduction of IOI ESG Platform in FY2024 was also a game changer, enabling us to manage large volumes of data, monitor progress, enhance transparency and strengthen accountability across our sustainability reporting.”\u003C/p>\u003Cp>Lee stresses that ESG cannot be achieved in isolation, and he hopes the government will introduce clearer policies, meaningful incentives and harmonised standards to drive ESG implementation across the industry.\u003C/p>\u003Cp>Meanwhile, consumers should have more awareness of and demand sustainable products. “From investors, we seek long-term and pragmatic perspectives that fairly value the financial benefits of sustainability, coupled with a deeper understanding of the operational realities on the ground,” says Lee.\u003C/p>\u003Cp>IOI Corp will continue to focus on biodiversity enhancement and community empowerment, as well as anchor its decarbonisation efforts on its commitment to achieving net-zero GHG emissions by 2040.\u003C/p>\u003Cp>This is aligned with its new five-year strategic roadmap (2025-2029), which highlights sustainability and climate initiatives as one of four strategic priorities. “This reflects our view that sustainability and climate initiatives are not only a responsibility but also an overriding business strategy to shape a more resilient and successful future for ourselves over the next five years,” says Lee.\u003C/p>",{"id":109,"name":110},[599],{"id":14,"name":15},{"name":601,"file_name":601,"url":602},"DatoEdgeBest.jpg","https://www.ioigroup.com/storage/2609/DatoEdgeBest.jpg",{"name":604,"file_name":604,"url":605},"DatoEdgeBestLarge.jpg","https://www.ioigroup.com/storage/2610/DatoEdgeBestLarge.jpg","2025-10-21T04:20:17.000000Z",[],{"meta_title":594,"meta_description":609,"meta_keywords":28},"\"Sustainability and climate initiatives are not only a responsibility but also an overriding business strategy to shape a more resilient and successfu...",{"id":611,"title":612,"date":613,"body":614,"source":615,"type":618,"image":620,"highlight_image":623,"published":22,"is_featured":22,"updated_at":626,"created_at":626,"content_type":24,"related_news":627,"metatag":628},915,"Forbes Global CEO Conference 2025: Real Estate Leaders Unpack Asia’s Property Trends","2025-10-14T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/Ge56zrCgeTd67kawLm32hIRR8yK9WIeDP9ELzvbp.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>Lee Yeow Chor, group managing director and CEO of IOI Corp. (Image Credit: Forbes Asia)\u003C/figcaption>\u003C/figure>\u003Cp>Seasoned real estate leaders including Marriott International’s Anthony Capuano, IOI Corp.’s Lee Yeow Chor, Prestige Group’s Irfan Razack, Frasers Property’s Panote Sirivadhanabhakdi and Hongkong Land’s Michael Smith shared the latest trends in Asia’s commercial property and hospitality industries at the Forbes Global CEO Conference in Jakarta on Tuesday.\u003C/p>\u003Cp>Razack, the Indian billionaire chairman of developer Prestige Group in Bangalore, sees an office boom in the South Asian country, driven by demands from the so-called global capability centers, which are offices set up by multinational corporations to handle operations like software development and accounting.\u003C/p>\u003Cp>“The consumption of office space in the first half in India has been 39,000,000 square feet, which is pretty huge,” said Razack. “And India has crossed the mark of one billion [square feet of] office space.” To capture the opportunity, his company planned to spend 120 billion rupees ($1.4 billion) to add more than 17 million square feet of office space across India into its portfolio, bringing the total to some 30 million square feet of office space by April 2028.\u003C/p>\u003Cp>Meanwhile, Smith, the chief executive of one of the biggest commercial landlords in Hong Kong’s Central business district, sees resilience in the city’s luxury retail sector. Despite subdued consumer sentiment across the Asian financial hub, Hongkong Land, a subsidiary of Hong Kong-based conglomerate Jardine Matheson, is pressing ahead with a $1 billion revamp of its high-end retail portfolio in Central.\u003C/p>\u003Cp>“We frequently get people to come into our mall in Hong Kong and spend $10 million a day shopping, which is pretty ridiculous,” said Smith. “Hong Kong is still such a center of the high-net-worth individuals. Hong Kong is at an inflection point now, and so we’re deploying capital there to ensure that we capture that.”\u003C/p>\u003Cp>Capuano, the president and CEO of U.S. hotel giant Marriott International, said he's witnessing a “global explosion” in travel demand. “We see a sustained, systemic trend where more and more consumers, perhaps because of the [Covid] lockdowns, didn’t buy as many luxury goods, watches, handbags, shoes and the like, and didn’t miss that as much [post-Covid],” he said. “But they deeply missed the opportunity to explore the world.”\u003C/p>\u003Cp>The trend has boosted the financial performance of Marriott, which last year recorded a 4.3% year-on-year rise in global revenue per available room (RevPAR). Among the more than 140 markets it has presence in, the Asia Pacific region excluding China recorded the biggest jump in RevPAR of 13% during the period.\u003C/p>\u003Cp>Amid geopolitical uncertainties and rising costs, the real estate experts offer insights into how to navigate the challenges. Lee, the Malaysian billionaire who controls IOI Properties, one of Singapore’s biggest landlords, emphasizes the importance of maintaining cash flow efficiency. He explains that developers should factor in land costs as a significant component of overall development expenses, noting that cash starts flowing out the moment land is acquired.\u003C/p>\u003Cp>Razack said that while cash flow management is important, developers should also aim big. “If you think big, if you look at excelling in whatever you’re doing and you’re trying to build some iconic developments, those will never fade away.”\u003C/p>\u003Cp>In the era of AI, some real estate companies are turning to the technology to enhance efficiency. Still, Capuano believes that AI won’t replace human roles, especially in the hospitality industry.\u003C/p>\u003Cp>“The unique challenge for our business is to remind ourselves that we are in the human connection business,” said Capuano. “One young man asked me, ‘With all the advances in AI and machine learning and robotics, can you imagine a day where you run a hotel with no employees?’ And my answer is, “hell no.’”\u003C/p>",{"id":616,"name":617},53,"Forbes.com",[619],{"id":14,"name":15},{"name":621,"file_name":621,"url":622},"DatoForbes.jpg","https://www.ioigroup.com/storage/2604/DatoForbes.jpg",{"name":624,"file_name":624,"url":625},"DatoForbesLarge.jpg","https://www.ioigroup.com/storage/2606/DatoForbesLarge.jpg","2025-10-16T09:14:19.000000Z",[],{"meta_title":612,"meta_description":629,"meta_keywords":28},"Lee Yeow Chor, group managing director and CEO of IOI Corp. (Image Credit: Forbes Asia)Seasoned real estate leaders including Marriott International’s...",{"id":631,"title":632,"date":633,"body":634,"source":635,"type":638,"image":640,"highlight_image":643,"published":22,"is_featured":22,"updated_at":646,"created_at":647,"content_type":24,"related_news":648,"metatag":649},914,"IOI Sets ESG Benchmark With Best Of The Best Award","2025-10-09T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:4000/1638;\" src=\"https://www.ioigroup.com/storage/editor-images/HZJ1F3JgYroxMUZV59zh0xj734b9TtQKadLJcdAF.jpg\" width=\"4000\" height=\"1638\">\u003Cfigcaption>IOI Plantation Director Mr NB Sudhakaran (third from right) receiving the Best of the Best award at The Edge Malaysia ESG Awards 2025, celebrating our fourth consecutive ESG win. (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>October 10, 2025 -- IOI Corporation Berhad (IOI) has been honoured with the Best of the Best award, a newly introduced category, at the fourth The Edge Malaysia ESG Awards 2025, held at Hilton Kuala Lumpur on 1 October 2025. This marks our fourth consecutive win, following three straight Gold awards in the plantation sector from 2022 to 2024.\u003C/p>\u003Cp>IOI has made continuous improvements in our efforts to sustain our ESG performance. Our new Five-Year Strategic Roadmap (2025–2029) places sustainability and climate initiatives as one of the four strategic priorities, underscoring that these are not only responsibilities but also an overriding business strategy to shape a more resilient and successful future.\u003C/p>\u003Cp>IOI Group Managing Director and Chief Executive Dato’ Lee Yeow Chor said: “We are proud to have surpassed our GHG emission intensity reduction target a full year ahead of schedule. Our original goal was to achieve a 40% reduction in Scope 1 and 2 GHG emissions, measured against 2015 carbon intensity emissions, by 2025. By the end of FY2025, we have reached a 46% reduction.” This significant milestone reflects how deeply decarbonisation is embedded in our business strategy, achieved through initiatives such as enhancing methane capture facilities, installing solar panels, optimising energy and resource efficiency, as well as deploying both nature-based and engineered solutions. Just as importantly, we work closely with employees and stakeholders to align everyday actions with long-term ESG goals.\u003C/p>\u003Cp>Organised by The Edge Malaysia with Bursa Malaysia and FTSE Russell, this year’s award drew the largest pool of PLCs to date, tripling to 956 over the past three years with the inclusion of ACE Market alongside Main Market PLCs. The average FTSE4Good ESG score for Main Market PLCs rose from 2.45 in December 2024 to 2.59 in June 2025, showing continued improvement in ESG performance and a maturing ESG ecosystem. As of June 2025, IOI achieved a score of 4 out of 5, reflecting our strong performance across 14 themes and over 300 indicators under the FTSE4Good’s ESG ratings model.\u003C/p>\u003Cp>Source: https://news.marketersmedia.com/ioi-sets-esg-benchmark-with-best-of-the-best-award/89172082\u003C/p>",{"id":636,"name":637},103,"Business Insider",[639],{"id":14,"name":15},{"name":641,"file_name":641,"url":642},"EdgeBest.jpg","https://www.ioigroup.com/storage/2602/EdgeBest.jpg",{"name":644,"file_name":644,"url":645},"EdgeBestLarge.jpg","https://www.ioigroup.com/storage/2603/EdgeBestLarge.jpg","2025-10-17T06:02:09.000000Z","2025-10-16T08:55:33.000000Z",[],{"meta_title":632,"meta_description":650,"meta_keywords":28},"IOI Plantation Director Mr NB Sudhakaran (third from right) receiving the Best of the Best award at The Edge Malaysia ESG Awards 2025, celebrating our...",{"id":652,"title":653,"date":654,"body":655,"source":656,"type":657,"image":659,"highlight_image":28,"published":22,"is_featured":22,"updated_at":663,"created_at":663,"content_type":24,"related_news":664,"metatag":665},913,"IOI earnings outlook for FY26 remains healthy","2025-09-03T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/jNEhejtaIabF9Eqer2X1Yb4XXYqINTi6cgpv7hXj.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>(File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>PETALING JAYA: IOI Corp Bhd's plantation earnings outlook stays intact for the financial year 2026 (FY26) given better fresh fruit bunch (FFB) output growth and declining production costs, according to analysts.\u003C/p>\u003Cp>Post-results briefing by the group, Hong Leong Investment Bank (HLIB) Research, in a report, said the plantation division would remain IOI's primary earnings growth driver in FY26.\u003C/p>\u003Cp>However, a challenging operating environment would likely persist into FY26 at the manufacturing segment, but the worst might be over, it added.\u003C/p>\u003Cp>\"We understand that the weak performance at IOI Palm Wood, an 80%-owned subsidiary was primarily due to production inefficiencies, which management is currently addressing,\" the research house said, adding that the IOI management remained positive on the long-term outlook for the unit.\u003C/p>\u003Cp>IOI has also guided higher capital expenditure (capex) at RM900mil for FY26 from RM500mil in FY25.\u003C/p>\u003Cp>The bulk of the capex will be incurred on its ongoing accelerated replanting programme (about 12,000ha targeted for FY26), new planting of coconut (l,000ha) and downstream expansion as well as capacity expansion at its fatty ester plant in Penang.\u003C/p>\u003Cp>The management at the recent briefing also revealed that IOI's new strategic roadmap (2025 to 2029) was to establish the group as a global leader in sustainable palm products and ingredients by focusing on four key priorities.\u003C/p>\u003Cp>They include strengthening product portfolio to unlock new market opportunities and drive value creation, focusing on innovation to provide differentiated offerings to customers for value-added niche applications, increasing productivity and quality to be cost efficient and a reliable supplier.\u003C/p>\u003Cp>HLIB Research, which maintained a “hold” call on IOI, has kept its target price unchanged at RM4.02 per share.\u003C/p>\u003Cp>Meanwhile, RHB Research expected IOI's upstream earnings to continue doing well on the back of elevated crude palm oil prices and a recovery in output, while the downstream division might face some challenges.\u003C/p>\u003Cp>Going forward, IOI expected the refining segment to be challenging, with competition remaining stiff, while it had started seeing volume improvement in the oleochemical segment coming from more US tariff clarity and preloading activities pre-European Union Deforestation Regulation enforcement.\u003C/p>\u003Cp>As for IOI's five-year strategic roadmap, RHB Research said: \"While we believe most of these plans are achievable, some plans may not be immediately earnings-accretive and may take some time to turn a profit.\"\u003C/p>\u003Cp>The research house had kept a “buy\" call on the stock with a target price of RM4.40 per share.\u003C/p>\u003Cp>Phillip Capital Research said: \"We came away from IOI's briefing reassured about its upstream prospects despite continued weakness in the resource-based manufacturing (RBM) segment.\"\u003C/p>\u003Cp>The research house, which maintained a \"hold” call on IOI with an unchanged target price of RM3.84, said: “While upstream recovery and coconut expansion underpin long-term earnings prospects, we remain cautious on near-term RBM performance.”\u003C/p>\u003Cp>The key risks include prolonged RBM margin pressure, weaker-than-expected production and palm prices, and regulatory hurdles impacting exports.\u003C/p>",{"id":10,"name":11},[658],{"id":14,"name":15},{"name":660,"file_name":661,"url":662},"Organic Mill.jpg","Organic-Mill.jpg","https://www.ioigroup.com/storage/2565/Organic-Mill.jpg","2025-09-03T04:05:39.000000Z",[],{"meta_title":653,"meta_description":666,"meta_keywords":28},"(File pic by IOI Corporation).PETALING JAYA: IOI Corp Bhd's plantation earnings outlook stays intact for the financial year 2026 (FY26) given better f...",{"id":668,"title":669,"date":670,"body":671,"source":672,"type":673,"image":675,"highlight_image":28,"published":22,"is_featured":22,"updated_at":679,"created_at":680,"content_type":24,"related_news":681,"metatag":682},912,"IOI Corp net profit rises 26% in 4Q, finishes FY2025 strongly as palm oil prices gain","2025-08-28T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/irm5L9RroiYT3U5iHmycaY6Z0mNlTzvGcAu2Ffmh.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>(File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>KUALA LUMPUR (Aug 28): IOI Corporation Bhd (KL:IOICORP) said on Thursday its fourth-quarter net profit rose 26% from a year earlier, thanks to foreign exchange gains and higher palm oil prices.\u003C/p>\u003Cp>Net profit for the three months ended June 30, 2025 (4QFY2025) was RM436.5 million, or 7.04 sen per share, according to its exchange filing. The company booked a RM117 million gain from net foreign currency translation on foreign currency-denominated borrowings and deposits.\u003C/p>\u003Cp>Revenue, meanwhile, rose 17% year-on-year to RM2.96 billion, thanks largely to higher output and higher average selling prices.\u003C/p>\u003Cp>The company declared a dividend of 5.5 sen per share, with an entitlement date of Sept 17 and payable on Sept 25. Total dividends declared for the year stood at 10.5 sen per share, up from 9.5 sen per share in FY2024.\u003C/p>\u003Cp>Fresh fruit bunch production in the new financial year is projected to be higher than in FY2025, driven by a larger number of trees reaching prime age and young trees coming into maturity, IOI Corp said.\u003C/p>\u003Cp>Coupled with the firm crude palm oil price, “we expect the plantation segment to deliver a good financial result for FY2026”, the company said.\u003C/p>\u003Cp>For the full 12 months of FY2025, net profit rose 37% to RM1.52 billion from a year earlier, thanks partly to foreign exchange translation gain of over RM284 million. Revenue for the year climbed 18% to RM11.33 billion as the selling price of crude palm oil rose to an average of RM4,332 per tonne.\u003C/p>\u003Cp>Prices of the edible oil used in everything from lipstick to diesel have been rising steadily since early July 2025 to around RM4,500 per tonne currently, thanks to strong demand from key importing countries.\u003C/p>\u003Cp>Coupled with Indonesia’s B40 biofuel mandate, prices should remain supported, IOI Corp said, noting that the current price discount of palm oil against that of US soy oil would also help to sustain its demand.\u003C/p>\u003Cp>The outlook for the refinery and commodity marketing business, however, remains challenging, mainly due to intense competition from Indonesian refiners that benefit from the raw material price advantage under the country’s export duty policy, the company noted.\u003C/p>\u003Cp>Business conditions of its oleochemical division would also be tough amid industry overcapacity and high raw material costs, IOI Corp said.\u003C/p>\u003Cp>At its specialty fats segment, represented by associate Bunge Loders Croklaan, sales margin, particularly for cocoa butter equivalents, are expected to remain good. However, sales margin in its US operations may be affected by the additional tariffs on imports of palm raw material, it cautioned.\u003C/p>\u003Cp>Shares of IOI Corp were a tad higher at RM3.88 on Thursday before the results announcement, giving the company a market capitalisation of over RM24 billion.\u003C/p>",{"id":109,"name":110},[674],{"id":14,"name":15},{"name":676,"file_name":677,"url":678},"Plantation View.jpg","Plantation-View.jpg","https://www.ioigroup.com/storage/2559/Plantation-View.jpg","2025-08-29T04:25:29.000000Z","2025-08-29T03:49:01.000000Z",[],{"meta_title":669,"meta_description":683,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR (Aug 28): IOI Corporation Bhd (KL:IOICORP) said on Thursday its fourth-quarter net profit rose 26% from a y...",{"id":685,"title":686,"date":687,"body":688,"source":689,"type":692,"image":694,"highlight_image":697,"published":22,"is_featured":22,"updated_at":701,"created_at":702,"content_type":24,"related_news":703,"metatag":704},911,"From tree to table: follow the journey of sustainable palm oil production in Malaysia","2025-08-25T00:00:00.000000Z","\u003Ch5>\u003Cspan class=\"text-big\">A chemical engineer explains how Malaysian palm oil is processed, graded and refined to meet health, quality and environmental standards\u003C/span>\u003C/h5>\u003Cp>\u003Cspan class=\"text-small\">In partnership with: \u003Cstrong>MPOC\u003C/strong>\u003C/span>\u003C/p>\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:654/366;\" src=\"https://www.ioigroup.com/storage/editor-images/hSk5UgijKZEf18gf6oRbyYyNY4hWEwtbu8bwvydd.jpg\" width=\"654\" height=\"366\">\u003Cfigcaption>\u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://youtu.be/izc4Oz_FJOI?si=PBVwV366auuqHiaz\">Click for Video: How Malaysian palm oil is produced to preserve health, quality and the planet\u003C/a>\u003C/figcaption>\u003C/figure>\u003Cp>Every year, enough palm oil is produced to fill 30,000 Olympic-sized swimming pools, and nearly one-third of it comes from Malaysia. But how does this widely used ingredient get from tree to table?\u003C/p>\u003Cp>“It’s a product that touches so many lives,” says Shyam Lakshmanan, a chemical engineer with four decades of experience in palm oil refining. Based in Sandakan, Malaysia, he leads one of the country’s major refineries and has spent much of his career focused on improving efficiency, quality and environmental standards in the palm oil industry.\u003C/p>\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1919/1079;\" src=\"https://www.ioigroup.com/storage/editor-images/7DpHh8Sqx4EtQIYlmuUxZA8x4wKFLaZodGibNizR.jpg\" width=\"1919\" height=\"1079\">\u003Cfigcaption>Chemical engineer Shyam Lakshmanan, who works at one of Malaysia’s leading palm oil refineries, has spent his career working to improve the industry’s standards. (Image Credit: SCMP Morning Studio)\u003C/figcaption>\u003C/figure>\u003Cp>Palm oil begins its journey from plantations across Malaysia. An oil palm tree typically takes three to four years to mature before it starts bearing fruit. Unlike seasonal crops, oil palm is perennial, meaning the same tree can produce fruit year after year without needing to be replanted. Each tree can yield 14 to 18 fresh fruit bunches annually and remain productive for up to 30 years.\u003C/p>\u003Cp>Once the reddish-orange oil palm fruit bunches ripen, they are harvested. Ripeness matters – underripe fruit contains less oil, while overripe bunches degrade quickly. Workers sort and grade the fruit to ensure only the highest-quality bunches move forward.\u003C/p>\u003Cp>Timing is crucial. “We aim to get the fruit from plantation to mill within 24 hours,” Lakshmanan explains. “The faster we move, the better the quality.”\u003C/p>\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1920/1080;\" src=\"https://www.ioigroup.com/storage/editor-images/efo7NWEIftd4x4JdfBN6KiYXW5abOleJpJ8wilp7.jpg\" width=\"1920\" height=\"1080\">\u003Cfigcaption>Oil palm fruit bunches are sent to a palm oil production facility like this one in Sandakan, where they are sterilised and undergo processing to extract the crude palm oil. (Image Credit: SCMP Morning Studio)\u003C/figcaption>\u003C/figure>\u003Cp>At the mill, the fruit undergoes sterilisation. A high-pressure steam treatment is applied which not only deactivates enzymes that can degrade the oil, but also loosens the fruit from the bunch. After threshing, which separates individual fruitlets, the oil is extracted through pressing and then clarified to remove impurities. At this stage, the product is known as crude palm oil – still raw and brightly coloured, and not yet ready to use.\u003C/p>\u003Cp>The next phase takes place in refineries like the one where Lakshmanan works, with truckloads of crude palm oil arriving daily. Each batch is immediately sampled and sent to an in-house laboratory, where technicians test for markers of freshness and stability to ensure that the oil meets quality benchmarks.\u003C/p>\u003Cp>Refining involves several steps. The oil is heated, bleached and deodourised, which removes impurities and neutralises colour and smell. Palm oil has an advantage over other vegetable oils at this stage: it can be more naturally separated into solid and liquid fractions without having to undergo a hydrogenation process. This is what makes palm oil trans fat-free and adaptable for a range of products, from cooking oil to cosmetics.\u003C/p>\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1916/1079;\" src=\"https://www.ioigroup.com/storage/editor-images/G6DmuOyNX2lCLa1vnUuOspzF5tjOeF4JoEhaVbqC.jpg\" width=\"1916\" height=\"1079\">\u003Cfigcaption>Truckloads of crude palm oil are sent to refineries, where each batch is sampled and sent for laboratory analysis to ensure it meets quality standards before it is refined into the final, manufacturer-ready form of palm oil. (Image Credit: SCMP Morning Studio)\u003C/figcaption>\u003C/figure>\u003Cp>Grading happens throughout the process, not just at harvest. “We’re evaluating quality at every stage, from plantation to final output,” Lakshmanan says. “That’s how we maintain standards.”\u003C/p>\u003Cp>Meanwhile, the industry continues to evolve on the sustainability front. Malaysia’s palm oil sector is governed by the Malaysian Sustainable Palm Oil (MSPO) certification scheme, which sets guidelines for environmental protection, labour rights and traceability. As of December 2024, about 87 per cent of the country’s planted area – about 4.9 million hectares (12.1 million acres) – was MSPO-certified.\u003C/p>\u003Cp>Producers are also working to reduce waste. By-products such as empty fruit bunches, palm kernel shells and palm fibres are reused for biomass energy or converted into compost. At Lakshmanan’s refinery, organic waste powers the boilers, supplying what he calls “green steam” for the plant and its neighbouring operations.\u003C/p>\u003Cp>“Almost every part of the crop can be used,” he says. “It’s no longer just about the oil. It’s about building a circular system.”\u003C/p>\u003Cp>Palm oil remains a cornerstone of Malaysia’s economy, contributing nearly 3 per cent of the gross domestic product and supporting over 1 million jobs. For engineers like Lakshmanan, the goal is to balance economic value with environmental responsibility, and to show that it is possible to produce a high-volume, affordable edible oil while also meeting the sustainability demands of today.\u003C/p>\u003Cp>“We’ve come a long way,” he says. “When the entire industry works together – planters, millers, refiners – we can make meaningful change.”\u003C/p>\u003Cp>Watch the \u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://www.youtube.com/watch?v=izc4Oz_FJOI\">\u003Cstrong>video\u003C/strong>\u003C/a> to get an up-close look at each step of the palm oil production process, guided by Lakshmanan.\u003C/p>",{"id":690,"name":691},102,"South China Morning Post",[693],{"id":14,"name":15},{"name":695,"file_name":695,"url":696},"ScreenshotSCMP1.jpg","https://www.ioigroup.com/storage/2563/ScreenshotSCMP1.jpg",{"name":698,"file_name":699,"url":700},"Latest Section.jpg","Latest-Section.jpg","https://www.ioigroup.com/storage/2558/Latest-Section.jpg","2025-08-29T07:34:48.000000Z","2025-08-28T10:13:41.000000Z",[],{"meta_title":686,"meta_description":705,"meta_keywords":28},"A chemical engineer explains how Malaysian palm oil is processed, graded and refined to meet health, quality and environmental standardsIn partnership...",{"id":707,"title":708,"date":709,"body":710,"source":711,"type":712,"image":714,"highlight_image":718,"published":22,"is_featured":22,"updated_at":722,"created_at":723,"content_type":24,"related_news":724,"metatag":725},910,"IOI Corp sees downstream recovery amid stiff competition, economic headwinds","2025-08-04T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/SfuCZxJeuhvI1HvLv1XQjAOsEQ3ceeEg9WAZfsiW.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>Tan: When we operate efficiently, our cost base remains low - and that gives us a long-term edge. (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>Integrated palm oil player IOI Corp Bhd (KL:IOICORP) is optimistic that the group's downstream operations — classified as resource-based manufacturing (RBM) in its books — has seen the worst of the downcycle amid stiff competition from Indonesian players as well as concerns over global economic uncertainties and tariff risks.\u003C/p>\u003Cp>Deputy Group CEO Tan Kean Hua says easing feedstock prices, margin recovery and improving demand — coupled with lOI's continued emphasis on operational efficiency — will help keep the RBM segment competitive. The sub-segments within RBM are refining, oleochemicals and specialty food ingredients.\u003C/p>\u003Cp>“The outlook should be better. I'm hopeful the worst is over. The last nine to 12 months were really tough — even some competitors reported losses,\" Tan tells \u003Ci>The Edge\u003C/i> interview.\u003C/p>\u003Cp>\"I always remind the team that while we can't control external factors, we can control productivity and efficiency. When we operate efficiently, our cost base remains low — and that gives us a long-term edge.\"\u003C/p>\u003Cp>He adds that feedstock prices such as crude palm oil (CPO) and palm kernel oil (PKO) have eased, reducing cost pressure. \"Demand is also improving, especially from European customers who are restocking ahead of the EU Deforestation Regulation (EUDR) deadline. That's lifting prices and supporting profitability for oleochemicals.\"\u003C/p>\u003Cp>IOI's RBM segment posted a 36.2% year-on-year (y-o-y) drop in profit to RM119.3 million for the nine months ended March 31, 2025 (9MFY2025). Excluding RM34.1 million in fair-value losses on derivatives, core profit was RM153.4 million — down 28% from RM211.6 million a year earlier, owing mainly to weaker refinery margins, partially offset by better oleochemical contributions.\u003C/p>\u003Cp>For the financial year ended June 30, 2024 (FY2024), the segment's profit plunged 52.3% y-o-y to RM3293 million, from RM691 million.\u003C/p>\u003Cp>In FY2024, profit contribution from RBM was 21.4%, against 78.6% from the upstream or plantation segment, compared with 37.5% and 62.5% respectively the year before.\u003C/p>\u003Cp>\u003Cstrong>Resilient margins despite overcapacity, Indonesia's tax edge\u003C/strong>\u003C/p>\u003Cp>According to Tan, IOI's refining and oleochemical operations remain under pressure, owing to industry overcapacity and Indonesia's tax structure for its palm oil sector.\u003C/p>\u003Cp>\"Indonesia's tax regime gives its refiners a cost advantage. They avoid export duties when sourcing CPO locally and pay minimal duty when exporting refined products. Indonesia's combined duty and levy gives Indonesian players a clear feedstock cost edge (over Malaysian producers),\" he explains.\u003C/p>\u003Cp>Despite the challenges, Tan says, IOI's refining margins remain positive, supported by its ability to produce low-contaminant oils and continued cost-optimisation efforts.\u003C/p>\u003Cp>On the issue of 3-monochloropropanediol esters (3-MCPDE) — food processing contaminants that can be found in refined edible fats and oils, as well as in foods made with them — Tan says the group is well positioned to meet quality standards in both Malaysia and the European Union.\u003C/p>\u003Cp>“We can produce CPO and related products that meet the Malaysian standard for 3-MCPDE. Among the major producers, this isn't really an issue. The problem lies with the smaller players, which is why the government's plan to mandate 3-MCPDE limits from July 1 has been delayed,\" he says.\u003C/p>\u003Cp>Turning to the oleochemical segment, Tan says competition is present but less intense than in refining. Customers in this segment tend to be more selective, placing a premium on product quality, timely delivery and certification — areas in which Malaysian producers such as IOI have an advantage over some Indonesian rivals.\u003C/p>\u003Cp>IOI operates four oleochemical plants — two each in Peninsular Malaysia and Germany — with a combined capacity of 890,000 tonnes per year. The Malaysian plants are fully palm oil-based, whereas the German plants also use coconut, rapeseed and sunflower oils.\u003C/p>\u003Cp>\u003Cstrong>Actively exploring further downstream acquisitions\u003C/strong>\u003C/p>\u003Cp>Looking ahead, IOI plans to deepen its focus on higher-margin segments in oleochemicals — particularly pharmaceutical ingredients, personal care and cosmetic ingredients, as well as food and nutrition ingredients, says Tan.\u003C/p>\u003Cp>He cites the group's strategic acquisition of German-based Cremer Oleo GmbH & Co KG in 2016 — now known as IOI Oleo GmbH — as a success story. The move provided IOI with valuable German expertise in both product applications and marketing, areas in which the group had sought to strengthens key benefit of the acquisition, Tan adds, was the transfer of knowledge to IOI's Malaysian operations.\u003C/p>\u003Cp>\"IOI Oleo GmbH has built a CARE studio in Germany where we work closely with customers to co-develop formulations. We're replicating this model by building our own CARE studio in Penang this year to better tailor our offerings to the Asian market,\" he says, adding that the customer base spans multinationals as well as niche, private-label brands.\u003C/p>\u003Cp>Tan highlights that R&D spending is more significant in the oleochemical segment than in the upstream plantation business, although no specific figures were disclosed. He notes that IOI has also invested heavily in IOI Oleo GmbH, which filed 26 patents in the last nine years.\u003C/p>\u003Cp>\"For example, we have a German start-up, KetoLipix Therapeutics GmbH — a spin-off of IOI Oleo GmbH — focused on ketone ester technology. It's still in the drug development stage, but we're spending a few million ringgit a year on it,\" he says.\u003C/p>\u003Cp>In addition, IOI recently approved a RM125 million capital expenditure to establish a Lipid Excellence Centre in Germany that will focus on R&D, application studies, analytics and quality control.\u003C/p>\u003Cp>Tan explains that aside from the expertise and know-how, being in Europe brings IOI closer to the approving authorities in the pharmaceutical field in Europe and North America.\u003C/p>\u003Cp>As for expansion plans, Tan says IOI is actively exploring acquisitions to broaden its product offerings in the downstream segment.\u003C/p>\u003Cp>As at end-March 2025, IOI had net debt of RM1.66 billion. Based on shareholders' funds of RM11.94 billion, IOI's net gearing stood at 0.14 times, giving it ample headroom to take on acquisitions.\u003C/p>\u003Cp>\"We've long been interested in further acquisitions, but it's not easy. First, you need to find the right company. Second, you must be able to pay the right price. And third, if it's a good company, chances are others are eyeing it, too — which turns it into a bidding war. Multinational companies are usually in the mix as well,\" he says.\u003C/p>\u003Cp>\"Ultimately, our goal is to go further downstream and expand our product range. When customers come to us, we want to be able to say — not only do we have this, but we also have a complementary line of products, made possible through acquisitions. That's been our aspiration.\"\u003C/p>\u003Cp>IOI's speciality fats business is undertaken through its 20%-associate Bunge Loders Croklaan (formerly IOI Loden Croklaan), which operates manufacturing facilities in Malaysia, the Netherlands, the US, Canada, Ghana and China.\u003C/p>\u003Cp>In March 2018, IOI sold its 70% controlling stake in IOI Loders Croklaan to New York-listed Bunge Ltd for US$\u003Co:p>\u003C/o:p>946 million as part of an internal restructuring exercise. It further pared down its stake by 10% in August 2022 for US$84.42 million, bringing its shareholding to 20%.\u003C/p>\u003Cp>\"The contribution from Bunge to our downstream division remains significant,\" says Tan, adding that IOI has retained board representation in Bunge Loders Croklaan.\u003C/p>\u003Cp>Given intense competition affecting the RBM segment, some quarters question the need for planters to expand downstream. Citing IOI's performance in FY2023 when the segment posted record profits, Tan says it is a question of timing, as the downstream business is highly cyclical.\u003C/p>\u003Cp>\"For integrated players like us, this is a natural hedge. When the feedstock prices are low, you make more money in manufacturing, downstream. When feedstock prices are high, you make more from plantations, upstream, and less in manufacturing,\" he explains, adding that the cycle is becoming harder to forecast because of Black Swan events such as the Covid-19 pandemic, which affected supply chains.\u003C/p>\u003Cp>\"We believe integrated is always better, that you're hedging along the line [value chain] and you get value addition going further downstream.\"\u003C/p>\u003Cp>\u003Cstrong>Minimal SST impact\u003C/strong>\u003C/p>\u003Cp>On concerns that the 5% sales and service tax (SST) imposed on PKO and crude palm kernel oil (CPKO) could affect downstream players, Tan says the impact on IOI is limited, as registered manufacturers can apply for exemption under Item 1, Schedule C of the Sales Tax (Persons Exempted from Payment of Tax) Order 2018.\u003C/p>\u003Cp>\"When we buy CPKO or PKO directly from the miller or crusher, we can apply for exemption as a manufacturer under Schedule C1. Since we produce and export the product, the 5% SST does not appIy. But trading companies in between do pay the 5% SST and pass on the cost, which eventually pushes up market prices,\" he says.\u003C/p>\u003Cp>According to Tan, industry groups such as the Malaysian Palm Oil Association (MPOA) and the Malaysian Oleochemical Manufacturers Group (MOMG) are still in ongoing talks with the government on the implementation of the SST.\u003C/p>\u003Cp>\"Ideally, we'd like the government to give a clear 'no' to the SST, so the whole market isn't affected, especially the trading companies that buy from crushers and resell to oleochemical players,\" he says.\u003C/p>\u003Cp>As part of its strategy to diversify and enhance returns from its existing land bank, IOI has ventured into coconut cultivation. This falls under what the group classifies as its sidestream segment.\u003C/p>\u003Cp>As at FY3024, the group had planted 3,131ha of coconut, with plans to expand the area to 5,000ha over the next few years.\u003C/p>\u003Cp>Tan notes a shift in demand from PKO towards crude coconut oil (CNO), particularly as buyers seek EUDR-compliant alternatives. While both PKO and CNO are rich sources of lauric acid, the latter is not subject to the EUDR, making it a preferred choice of certain buyers.\u003C/p>\u003Cp>To capitalise on this trend, IOI also plans to build downstream coconut processing facilities. \"We aim to create a full coconut value chain — from estate to mill to processing. This includes extracting coconut oil and producing coconut-based byproducts. The oil can be used as oleochemical feedstock or sold directly,\" Tan says.\u003C/p>\u003Cp>Also under its sidestream segment, the group's non-CPO subsidiary IOI Palm Wood Sdn Bhd has begun operations in Segamat, Johor, converting oil palm by-products such as palm trunks into value-added products.\u003C/p>\u003Cp>In addition, IOI is developing a zero-waste paper pulp plant in Pekan, Pahang, through a 45:55 joint venture with Nextgreen Global Bhd (KL:NGGB). The plant will produce paper using empty fruit bunches and is expected to begin operations by mid-2027.\u003C/p>\u003Cp>\"The plant's first-phase production capacity is around 150,000 tonnes per year. It's still [too] early to assess the earnings contribution,\" Tan says.\u003C/p>",{"id":109,"name":110},[713],{"id":14,"name":15},{"name":715,"file_name":716,"url":717},"GMP Bagging Room.jpg","GMP-Bagging-Room.jpg","https://www.ioigroup.com/storage/2554/GMP-Bagging-Room.jpg",{"name":719,"file_name":720,"url":721},"Img for Latest Section (GMP Bagging Room).jpg","Img-for-Latest-Section-(GMP-Bagging-Room).jpg","https://www.ioigroup.com/storage/2555/Img-for-Latest-Section-(GMP-Bagging-Room).jpg","2025-08-29T03:54:27.000000Z","2025-08-07T03:49:44.000000Z",[],{"meta_title":708,"meta_description":726,"meta_keywords":28},"Tan: When we operate efficiently, our cost base remains low - and that gives us a long-term edge. (File pic by IOI Corporation).Integrated palm oil pl...",{"id":728,"title":729,"date":730,"body":731,"source":732,"type":733,"image":735,"highlight_image":738,"published":22,"is_featured":22,"updated_at":742,"created_at":743,"content_type":24,"related_news":744,"metatag":745},909,"Upstream windfalls, downstream shields","2025-08-02T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1280/960;\" src=\"https://www.ioigroup.com/storage/editor-images/XgxxJ7bq1v4LRhCbUj0Vbzx7LG9coklV8Y5VhBcF.jpg\" width=\"1280\" height=\"960\">\u003Cfigcaption>Tan: The palm wood panel business is part of lOI's Circular economy and net-zero roadmap. (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>IOI Corp Bhd is not your typical plantation play.\u003C/p>\u003Cp>While many investors chase pure upstream companies that fully capitalise on crude palm oil (CPO) price rallies, IOI is building a business that buffers such volatility by straddling the entire palm oil value chain, from plantations to oleochemicals and now, palm wood.\u003C/p>\u003Cp>But is this diversification a dilution of value or a strategic hedge that offers long-term resilience?\u003C/p>\u003Cp>At first glance, IOI's strategy to maintain a vertically integrated model might seem counterintuitive.\u003C/p>\u003Cp>The upstream plantation segment, though generating only 30% to 40% of group revenue, contributes as much as 79% of lOI's profit in a good year.\u003C/p>\u003Cp>By contrast, the downstream and resource-based manufacturing segment contributes up to 70% of revenue but only around 21% of group profits in financial year 2024 (FY24).\u003C/p>\u003Cp>This imbalance raises a fundamental concern: During CPO upcycles, IOI is unlikely to reap the full windfall that pure upstream players enjoy.\u003C/p>\u003Cp>In boom times, the downstream segment drags overall profitability due to its thinner margins and time lag in passing on higher input costs.\u003C/p>\u003Cp>Critics argue that IOI is effectively \"muting\" its own earnings during commodity bull runs.\u003C/p>\u003Cp>But IOI defends its strategy on multiple grounds. For one, the downstream operations serve as a natural hedge.\u003C/p>\u003Cp>And the numbers speak for themselves. Despite the downstream business contributing up to 70% of lOI's revenue, the upstream plantation segment remains the major profit generator.\u003C/p>\u003Cp>\"Last year, we reported that our upstream contributed 79% of the profit of IOI in FY24,\" IOI deputy group chief executive officer Tan Kean Hua tells StarBiz 7 in an interview.\u003C/p>\u003Cp>In contrast, he points out that the downstream segment brought in just 21% of profits.\u003C/p>\u003Cp>The margin disparity is stark, but there's a strategic rationale.\u003C/p>\u003Cp>\"This is sort of a natural hedge,\" he adds.\u003C/p>\u003Cp>\"When palm oil prices are low, that means that the input cost for the downstream is lower. So the profit margin for the downstream will be bigger,\" he explains.\u003C/p>\u003Cp>This cushioning effect was evident in FY23 when downstream profits rose to 37.5% of group earnings.\u003C/p>\u003Cp>However, this approach can be frustrating for investors expecting to ride the full wave of a CPO rally.\u003C/p>\u003Cp>\"When it becomes 90%, then people say, why are you downstream? But it's a cycle... If the situation flips, you don't have that opportunity to earn more downstream,\" Tan adds.\u003C/p>\u003Cp>\u003Cstrong>Oleochemicals adds value\u003C/strong>\u003C/p>\u003Cp>IOI's downstream oleochemical operations, spanning Malaysia and Germany serve multiple high-value sectors, pharmaceuticals, cosmetics and nutrition.\u003C/p>\u003Cp>The company has also gained traction supplying essential ingredients to multinational clients like Bunge Loders Croklaan for infant milk formula and cocoa butter equivalents.\u003C/p>\u003Cp>Its edge? ESG compliance and quality assurance.\u003C/p>\u003Cp>\"We pride ourselves as we actually produce lower (levels of 3-MCPD and GE) contaminants and there are customers actually asking for it. Mostly European customers and also the animal feed industry,\" Tan says.\u003C/p>\u003Cp>Furthermore, about 20% to 25% of lOI's refined palm products sold to third parties are certified sustainable. But more than just certification, IOI touts product quality and traceability.\u003C/p>\u003Cp>\"Because we are integrated, we say that we have security of supply and it comes from our own mill, it doesn't sit in the tank for too long. That's why we are able to produce such good quality,\" he adds.\u003C/p>\u003Cp>The EU Deforestation Regulation, viewed by many industry players as a threat, is seen by IOI as an opportunity.\u003C/p>\u003Cp>\"If we are integrated, we can tell the customer that we can provide you whatever information you want, and that meets that requirement. So actually from a threat, it's turned into an opportunity for us,\" Tan explains.\u003C/p>\u003Cp>\u003Cstrong>Palm wood: A risky diversification?\u003C/strong>\u003C/p>\u003Cp>Perhaps the most surprising pivot in lOI's strategy is its entry into the palm wood panel business, a venture the group has positioned as part of its \"circular economy\" and net-zero roadmap.\u003C/p>\u003Cp>\"This is really where we have to walk the talk. We talk about the circular economy. We have our carbon neutral target by 2030, we have our net zero (target) even (by) 2040,\" Tan explains.\u003C/p>\u003Cp>\"And this type of project is supposed to help in achieving this.\"\u003C/p>\u003Cp>Built with a hefty RM120mil investment, the palm wood plant is equipped with German and Italian machinery and is currently running at just 20% to 30% capacity.\u003C/p>\u003Cp>Tan concedes this is a long-term play.\u003C/p>\u003Cp>\"When you talk about a start-up, it takes a few years, probably another few more years before we can see profit,\" he adds.\u003C/p>\u003Cp>The company is not competing on price alone.\u003C/p>\u003Cp>\"We try not to talk about price. We try to talk about other aspects. This is sustainable green material. We say that, can you imagine, this is a waste material that we convert into something useful?\"\u003C/p>\u003Cp>The product is formaldehyde-free, lightweight, and can be used in furniture, flooring, decorative panels, and even acoustic solutions for auditoriums.\u003C/p>\u003Cp>Yet mass commercialisation remains a hurdle, as buyers compare it to conventional timber.\u003C/p>\u003Cp>\"Customers will say 'What's the price? To them, the price benchmark is timber. So that would be our reference price,\" Tan shares.\u003C/p>\u003Cp>Still, IOI is optimistic.\u003C/p>\u003Cp>\"We are convinced that we will reach there. The world is moving on,\" he said, adding that some global brands have already expressed interest in sustainable materials for their stores.\u003C/p>\u003Cp>For investors seeking immediate leverage to CPO prices, IOI's integrated model may not appeal.\u003C/p>\u003Cp>\"If you take a long-term view; it's not wrong for analysts to say when it's high, why are you downstream? I mean, it's normal for a human.\"\u003C/p>\u003Cp>Yet the benefits, resilience, traceability, premium pricing, and ESG positioning, paint a different picture for long-term shareholders.\u003C/p>\u003Cp>The palm wood venture, while a slow burn, aligns with global trends and regulatory shifts.\u003C/p>\u003Cp>And as IOI positions itself as a premium, integrated, and sustainable palm player, the company may well become a preferred partner for global buyers seeking not just oil, but trust and traceability.\u003C/p>\u003Cp>In the words of Tan: \"This is not just about making money. This is about making a difference, and the returns, we believe, will follow.\"\u003C/p>",{"id":10,"name":11},[734],{"id":14,"name":15},{"name":736,"file_name":736,"url":737},"rsz_1mr_tan_kean_hua1.jpg","https://www.ioigroup.com/storage/2552/rsz_1mr_tan_kean_hua1.jpg",{"name":739,"file_name":740,"url":741},"Img for Latest Section.jpg","Img-for-Latest-Section.jpg","https://www.ioigroup.com/storage/2553/Img-for-Latest-Section.jpg","2025-08-07T03:58:19.000000Z","2025-08-03T22:57:54.000000Z",[],{"meta_title":729,"meta_description":746,"meta_keywords":28},"Tan: The palm wood panel business is part of lOI's Circular economy and net-zero roadmap. (File pic by IOI Corporation).IOI Corp Bhd is not your typic...",{"id":748,"title":749,"date":750,"body":751,"source":752,"type":753,"image":755,"highlight_image":28,"published":22,"is_featured":22,"updated_at":759,"created_at":760,"content_type":24,"related_news":761,"metatag":762},908,"High CPO prices to lift IOI Corp earnings","2025-08-01T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/storage/editor-images/6UiT1Pmn1ZvLTnGlgvu6mLEwEolz6Fny7q8EP3eE.jpg\" width=\"1200\" height=\"800\">\u003Cfigcaption>RHB Research said the company’s outlook remains positive as upstream earnings will continue to do well on strong CPO prices. (File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>PETALING JAYA: IOI Corp Bhd is expected to deliver stronger earnings in the coming financial years as it benefits from elevated crude palm oil (CPO) prices while pursuing fresh income streams through new ventures as well as mergers and acquisitions.\u003C/p>\u003Cp>The group is targeting fresh fruit bunch (FFB) output growth and cost containment measures that could support margins going forward.\u003C/p>\u003Cp>According to RHB Research, which met with IOI Corp’s management recently, the company’s outlook remains positive as upstream earnings will continue to do well on strong CPO prices.\u003C/p>\u003Cp>This is further supported by the group’s embarking on new ventures to diversify its income streams.\u003C/p>\u003Cp>The research house said the group’s valuation was still appealing, trading at 17.5 times its forecast price-earnings ratio for 2026, at the lower end of the 17 to 22 times range of peers.\u003C/p>\u003Cp>On production, it noted that IOI Corp achieved FFB growth of 1.3% year-on-year (y-o-y) in the financial year ended June 30, 2025 (FY25) – below its initial 3% target.\u003C/p>\u003Cp>“While output saw a mini peak in April, IOI Corp expects production to pick up in July, with a bigger peak in the August to September period,” it said.\u003C/p>\u003Cp>For FY26, the group was targeting FFB output growth of 3% to 5% on the back of better weather conditions in line with RHB Research’s 4% forecast.\u003C/p>\u003Cp>The company was also expected to keep unit costs in check.\u003C/p>\u003Cp>“IOI Corp expects FY25 costs to come in at around RM2,000 to RM2,100 per tonne,” RHB Research said, adding that it had already secured fertiliser requirements for the first half of FY26 at flat prices y-o-y.\u003C/p>\u003Cp>However, a 2% to 3% rise in costs could result from minimum wage adjustments and Employees Provident Fund contribution requirements.\u003C/p>\u003Cp>On regulatory risks, RHB Research said IOI Corp would face minimal impact from the government’s expanded sales and service tax (SST) and US tariffs.\u003C/p>\u003Cp>The group had obtained SST exemptions for its oleochemicals operations and over 90% of its trading volumes comprised CPO and palm olein, which were not subjected to the tax.\u003C/p>\u003Cp>“There is no significant impact as 90% of Malaysian CPO production is exported to the European Union as certified products, with less than 2% exported to the United States,” it added.\u003C/p>\u003Cp>Looking ahead, IOI Corp was actively seeking brownfield upstream land bank in Malaysia and Indonesia and opportunities in specialty oleochemicals for the pharmaceutical and personal care sectors.\u003C/p>\u003Cp>It also expressed optimism over its 33% stake in a pulp and paper joint venture with Nextgreen Global Bhd to turn oil palm empty fruit bunches into renewable products.\u003C/p>\u003Cp>“The first phase of the plant (150,000 tonnes) should be operational by 2028, with potential earnings before interest and tax (ebit) contribution of RM30mil to RM50mil,” RHB Research said.\u003C/p>\u003Cp>The group’s diversification efforts extended to coconut plantations, where 3,500ha had already been planted, targeting 4,600ha in total.\u003C/p>\u003Cp>This business could bring in RM60mil to RM70mil in ebit at full maturity.\u003C/p>\u003Cp>RHB Research reiterated its “buy” call on IOI Corp, maintaining a sum-of-parts-based target price of RM4.30 with a 2% environmental, social and governance premium.\u003C/p>",{"id":10,"name":11},[754],{"id":14,"name":15},{"name":756,"file_name":757,"url":758},"Estate View.jpg","Estate-View.jpg","https://www.ioigroup.com/storage/2551/Estate-View.jpg","2025-08-01T03:53:20.000000Z","2025-08-01T03:23:52.000000Z",[],{"meta_title":749,"meta_description":763,"meta_keywords":28},"RHB Research said the company’s outlook remains positive as upstream earnings will continue to do well on strong CPO prices. (File pic by IOI Corporat...",{"id":765,"title":766,"date":767,"body":768,"source":769,"type":770,"image":772,"highlight_image":775,"published":22,"is_featured":22,"updated_at":778,"created_at":779,"content_type":24,"related_news":780,"metatag":781},905,"AMESU Signs Six Collective Agreements With Plantation Employers","2025-06-23T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1080/810;\" src=\"https://www.ioigroup.com/storage/editor-images/zMNdwx8ulFZOD9AKj6BS8MvmTb2TTRUUlvMwH5yJ.jpg\" width=\"1080\" height=\"810\">\u003C/figure>\u003Cfigure>\u003Cfigcaption style=\"box-sizing:border-box;font-size:10pt;text-align:center;\">\u003Ci>(File pic by IOI Corporation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp>\u003Cbr>SHAH ALAM, June 23 (Bernama) -- The All Malayan Estates Staff Union (AMESU) marked a historic milestone today by signing six Collective Agreements (CAs) simultaneously with plantation sector employers.\u003Cbr>\u003Cbr>The signing ceremony, which was witnessed by Human Resources Minister Steven Sim Chee Keong, involved representatives from the Malayan Agricultural Producers Association (MAPA), IOI Group of Companies, Dara Lam Soon Sdn Bhd, Arah Kawasan Sdn Bhd, HK Gua Musang Sdn Bhd, and YPJ Plantations Sdn Bhd. \u003Cbr>\u003Cbr>In his speech, Sim noted that AMESU, established in 1927, is one of the country’s oldest trade unions, representing over 5,000 workers, while MAPA serves as the umbrella body for 120 major plantation companies nationwide.\u003Cbr>\u003Cbr>“This ceremony marks an extraordinary achievement in the history of workers’ rights, as this is the first time six collective agreements have been successfully signed simultaneously,” he said.\u003Cbr>\u003Cbr>He noted that the agreements are expected to boost worker welfare and enhance productivity across the plantation sector.\u003Cbr>\u003Cbr>Under the new agreements, all AMESU members will receive salary increases of up to 12 per cent.\u003Cbr>\u003Cbr>Interestingly, Sim said the increment is retroactive, effective from Jan 1, which means that workers will also receive backdated payments ranging from RM3,000 to RM10,000, depending on their job grade, years of service, and allowance structure.\u003Cbr>\u003Cbr>Furthermore, he said workers covered under the agreements between AMESU, MAPA, and the six plantation firms will no longer be subject to the minimum wage threshold of RM1,700 per month.\u003Cbr>\u003Cbr>“Instead, the agreed salary structure sets a new starting wage at RM1,800 per month, which is higher than the current minimum wage,” he added.\u003C/p>",{"id":560,"name":561},[771],{"id":14,"name":15},{"name":773,"file_name":773,"url":774},"AMESU.jpg","https://www.ioigroup.com/storage/1799/AMESU.jpg",{"name":776,"file_name":776,"url":777},"AMESU-thumbnail.png","https://www.ioigroup.com/storage/1801/AMESU-thumbnail.png","2025-07-03T09:30:32.000000Z","2025-06-24T10:22:30.000000Z",[],{"meta_title":766,"meta_description":782,"meta_keywords":28},"(File pic by IOI Corporation).SHAH ALAM, June 23 (Bernama) -- The All Malayan Estates Staff Union (AMESU) marked a historic milestone today by signing...",{"id":784,"title":785,"date":786,"body":787,"source":788,"type":789,"image":791,"highlight_image":794,"published":22,"is_featured":22,"updated_at":797,"created_at":798,"content_type":24,"related_news":799,"metatag":800},904,"Tan Sri Wahid Appointed Senior Independent Director At IOI Corp","2025-06-13T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:400/511;\" src=\"https://www.ioigroup.com/storage/editor-images/YLvrVol1EF2NUkz9LMdh5BOxwgdOlmOpCV0REtHu.png\" width=\"400\" height=\"511\">\u003C/figure>\u003Cfigure>\u003Cfigcaption style=\"box-sizing:border-box;font-size:10pt;text-align:center;\">\u003Ci>(File pic by IOI Corporation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp>\u003Cbr>IOI Corporation Berhad appoints Tan Sri Abdul Wahid as the group’s Senior Independent non executive director effective June 16.\u003Cbr>\u003Cbr>Tan Sri Wahid is no stranger to the corporate having served in various capacities. He is a member of the Association of Chartered Certified Accountants, the Institute of Chartered Accountants in England & Wales, and the Malaysian Institute of Accountants. He was the Managing Director/Chief Executive Officer of UEM Group Berhad in October 2001, where he led a successful turnaround of Malaysia’s largest infrastructure conglomerate (which owned PLUS Expressways). Subsequently, he became the Group Chief Executive Officer of Telekom Malaysia Berhad in July 2004, leading TM’s regional expansion in mobile communications, until its demerger with Axiata Group Berhad in April 2008.\u003Cbr>\u003Cbr>Tan Sri Abdul Wahid then joined Malayan Banking Berhad as the President and Chief Executive Officer from May 2008 to June 2013. During his tenure, he was appointed as Chairman of The Association of Banks in Malaysia. Thereafter, he was appointed as a Senator and Minister in the Prime Minister’s Department in charge of Economic Planning from June 2013 to June 2016. He was also a former Group Chairman of Permodalan Nasional Berhad from August 2016 to June 2018. On 30 April 2025, Tan Sri Abdul Wahid completed his 5-year tenure as Chairman of Bursa Malaysia Berhad.\u003Cbr>\u003Cbr>He currently serves as the Board Chairman of Cypark Resources Berhad and the Chairman of World Wide Fund for Nature (WWF)-Malaysia and MySDG Foundation, Pro-Chancellor of Islamic Science University of Malaysia, Professor of Practice at International Center for Education in Islamic Finance, Adjunct Professor of Universiti Poly-Tech Malaysia, and Sultan bin Abdulaziz Visiting Fellow at the Oxford Centre for Islamic Studies, United Kingdom. He is also a member of Majlis Kebangsaan Hal Ehwal Agama Islam, Pahang Net Zero Council and the Sarawak Economic Action Council; Chairman of the International Advisory Council of the Economic Club Kuala Lumpur, and an Advisory Council member of the Malaysian Chamber of Commerce (Hong Kong and Macau).\u003C/p>",{"id":316,"name":317},[790],{"id":14,"name":15},{"name":792,"file_name":792,"url":793},"thumbnail-tsw.png","https://www.ioigroup.com/storage/1771/thumbnail-tsw.png",{"name":795,"file_name":795,"url":796},"thumbnail-tsw-v2.png","https://www.ioigroup.com/storage/1770/thumbnail-tsw-v2.png","2025-06-19T09:31:20.000000Z","2025-06-17T14:22:12.000000Z",[],{"meta_title":785,"meta_description":801,"meta_keywords":28},"(File pic by IOI Corporation).IOI Corporation Berhad appoints Tan Sri Abdul Wahid as the group’s Senior Independent non executive director effective J...",{"id":803,"title":804,"date":805,"body":806,"source":807,"type":808,"image":810,"highlight_image":28,"published":22,"is_featured":814,"updated_at":815,"created_at":816,"content_type":24,"related_news":817,"metatag":818},902,"IOI Corp’s net profit more than doubles to RM262mil","2025-05-28T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:1080/1080;\" src=\"https://www.ioigroup.com/storage/editor-images/b5zZz1vmMt3CsWcaXeT3bJmq3tceqbmkhPwWg4Cm.jpg\" alt=\"hand held fruits\" width=\"1080\" height=\"1080\">\u003C/figure>\u003Cfigure>\u003Cfigcaption style=\"box-sizing:border-box;font-size:10pt;text-align:center;\">\u003Ci>IOI Corp said the improved 3Q25 and cumulative results were primarily due to better contributions from its plantation segment. (File pic by IOI Corporation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp>\u003Cbr>PETALING JAYA: \u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://www.thestar.com.my/business/marketwatch/stocks/?qcounter=IOICORP\">IOI Corp Berhad\u003C/a> \u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://charts.thestar.com.my/?s=IOICORP\">\u003Cimg class=\"go-chart\" style=\"box-sizing:border-box;display:inline-block;vertical-align:middle;\" src=\"https://cdn.thestar.com.my/Themes/img/chart.png\" width=\"18\" height=\"18\" pinger-seen=\"true\">\u003C/a> expects higher fresh fruit bunch (FFB) production in second quarter of calendar year 2025, due to improved weather conditions and the end of a low production cycle.\u003C/p>\u003Cp>The plantation group said the expected production rise, resulting in higher palm oil stock, is likely to exert downward pressure on crude palm oil (CPO) prices.\u003C/p>\u003Cp>However, the resumption of demand from major buyers, following an earlier slowdown, and Indonesia’s B40 biodiesel mandate are expected to provide key price support moving forward.\u003C/p>\u003Cp>Releasing its results for the third financial quarter ended March 31, 2025 (3Q25), yesterday, IOI Corp reported net profit more than doubling year-on year (y-o-y) to RM262.3mil, underpinned by an 11.1% revenue growth to RM2.74bil.\u003C/p>\u003Cp>For the nine months ended March 31 (9M25), the group posted a net profit of RM1.08bil, a 42.2% y-o-y jump, as turnover also grew by 18.6% to RM8.37bil.\u003C/p>\u003Cp>IOI Corp said the improved 3Q25 and cumulative results were primarily due to better contributions from its plantation segment, which benefited from higher CPO and palm kernel prices realised, as well as a higher share of associates’ results.\u003C/p>\u003Cp>Nevertheless, the group said this was partially offset by higher CPO stock levels, lower FFB production, and a lower oil extraction rate.\u003C/p>\u003Cp>The better performance led to earnings per share improving to 4.23 sen for 3Q25 and 17.47 sen for 9M25.\u003C/p>\u003Cp>Total dividends declared by IOI Corp stood at five sen per share, with the company not proposing any dividend for 3Q25 but having declared the aforementioned five sen in 2Q25.\u003Cbr>Separately, the group said the recent price correction has improved palm oil’s competitiveness relative to other vegetable oils.\u003C/p>\u003Cp>“Taking these factors into account, we project CPO prices to range between RM3,700 and RM4,000 per tonne for the rest of our financial year ending June 30, 2025,” it said in a filing to Bursa Malaysia.\u003C/p>\u003Cp>Furthermore, the group said FFB production for 4Q25 is expected to recover significantly over 3Q25, anticipating that this higher production will help sustain steady financial performance despite the lower CPO prices expected for the quarter ending June 30.\u003C/p>\u003Cp>It added that the relatively high palm kernel oil price has kept sales volume and margins subdued for some time, but going forward, the recent decline in palm kernel oil price is expected to support improved sales volume and margins.\u003C/p>\u003Cp>“Coupled with our continued focus on operational efficiency and cost optimisation, we anticipate to maintain our financial performance in the final quarter for the financial year ending June 30, 2025,” said IOI Corp.\u003C/p>",{"id":10,"name":11},[809],{"id":14,"name":15},{"name":811,"file_name":812,"url":813},"Hand held fruits.jpg","p69qv5gPH6yIJBUhMmfH0ITB5kh386a2txS3ziGy.jpg","https://www.ioigroup.com/storage/1701/p69qv5gPH6yIJBUhMmfH0ITB5kh386a2txS3ziGy.jpg",false,"2025-07-01T04:51:25.000000Z","2025-06-06T00:09:33.000000Z",[],{"meta_title":804,"meta_description":819,"meta_keywords":28},"IOI Corp said the improved 3Q25 and cumulative results were primarily due to better contributions from its plantation segment. (File pic by IOI Corpor...",{"id":821,"title":822,"date":823,"body":824,"source":825,"type":826,"image":828,"highlight_image":28,"published":22,"is_featured":814,"updated_at":832,"created_at":833,"content_type":24,"related_news":834,"metatag":835},901,"Nextgreen-IOI JV to partner China’s Xiamen C&D for a RM900m pulp plant in Pahang","2025-04-16T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:2598/1732;\" src=\"https://www.ioigroup.com/storage/editor-images/KJAi4Q3RvOILrtdVoNmxrS3TfWnDjUnJ896qO4Tl.jpg\" width=\"2598\" height=\"1732\">\u003Cfigcaption>\u003Ci>(File pic by IOI Corporation)\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp>\u003Cbr>KUALA LUMPUR (April 16): Nextgreen Global Bhd (KL:NGGB), a company which turns oil palm empty fruit bunches (EFB) into paper, plans to set up a joint venture company with Chinese Fortune Global 500 company Xiamen C&D Paper & Pulp Group Co Ltd (Xiamen C&D) to set up a RM900 million paper pulp plant in Pahang.\u003C/p>\u003Cp>Xiamen C&D is a professional supply chain operation provider of forestry, pulp and paper in China.\u003C/p>\u003Cp>In a statement on Wednesday, Nextgreen IOI Pulp Sdn Bhd (NIP) — a 55:45 joint venture between Nextgreen Global and palm oil player IOI Corp Bhd (KL:IOICORP) — announced that it has signed an agreement with Hong Kong Paper Sources Co Ltd, a wholly owned subsidiary of Xiamen C&D, to establish the 3:1 joint venture company (JVco) which will establish the paper pulp plant. It is expected to be set up within 10 business days from Wednesday.\u003C/p>\u003Cp>Phase 1 of the pulp production facility will be built on an 81-acre site and completed within 24 months, or by the second half of 2027, at the Green Technology Park in Pekan, Pahang — a hub within the Eastern Corridor Economic Region’s Special Economic Zone.\u003C/p>\u003Cp>“This joint venture between NIP and Xiamen C&D Paper & Pulp is a powerful testament to the growing synergy between China and Malaysia in building a greener economy together and represents an important initiative for Xiamen C&D Group in the pulp and paper sector,\" Xiamen C&D general manager Zhang Xiao Hui said during the press conference.\u003C/p>\u003Cp>\"By integrating NIP’s strength in palm biomass sourcing and processing innovation, together with our robust distribution network, this partnership lays the foundation for a more sustainable pulp and paper supply chain, as well as a more integrated regional economy,\" he added.\u003C/p>\u003Cp>Nextgreen Global will provide the technology and technical expertise for the JV through its patented Preconditioning Refiner Chemical-Recycle Bleached Mechanised Pulp (PRC-RBMP) process, while Xiamen C&D will lead in product off-take and distribution efforts.\u003C/p>\u003Cp>\"Xiamen C&D is 100% off-taker; that is already in our agreement. Every single tonne produced will be taken by them,\" said Nextgreen Global managing director Datuk Lim Thiam Huat, noting that Xiamen C&D consumes 16 million metric tonnes (MT) of paper pulp annually.\u003C/p>\u003Cp>The first phase will target an annual production capacity of 150,000 metric tonnes (MT) of chemical bleached pulp from EFB, up from the original 100,000 MT target.\u003C/p>\u003Cp>The upgrade was made possible by technical input from Xiamen C&D, which consumes 16 million MT of pulp annually. IOI Corporation’s CEO Datuk Lee Yeow Chor noted that the initial 100,000 MT target was too low to meet their partner’s needs.\u003C/p>\u003Cp>With the increased capacity, the plant is projected to generate RM450 million in annual revenue from 2027 onwards, exceeding last year’s forecast of RM355 million.\u003C/p>\u003Cp>Capital expenditure has been revised to RM900 million, up from RM600 million, due to the expanded production line, said Nextgreen Global managing director Datuk Lim Thiam Huat.\u003C/p>\u003Cp>The facility for phase 2 is expected to be completed within 24 months following the completion of phase 1, bringing the total timeline for both phases to less than 48 months, according to Zhang.\u003C/p>\u003Cp>Phase 2 will contribute an additional 300,000 MT, bringing the total capacity to 450,000 MT, including phase 1, compared to the 400,000 MT target stated last year.\u003C/p>\u003Cp>\"Once phase 2 is completed within the next 24 months after phase 1, the annual capacity will increase by an additional 300,000 tonnes,\" said Zhang.\u003C/p>\u003Cp>Lee said once proven successful, there are plans to set up more plants in other regions of Malaysia, with Sabah being a potential location due to its status as a major palm oil-producing state.\u003C/p>",{"id":109,"name":110},[827],{"id":14,"name":15},{"name":829,"file_name":830,"url":831},"rsz_nextgreen_ioi_group_pic_after_signing.jpg","SokffozNHlwB6GXLNKM61WKobuRmuv0jt7XCFynI.jpg","https://www.ioigroup.com/storage/1488/SokffozNHlwB6GXLNKM61WKobuRmuv0jt7XCFynI.jpg","2025-07-01T04:17:09.000000Z","2025-05-13T01:07:09.000000Z",[],{"meta_title":822,"meta_description":836,"meta_keywords":28},"(File pic by IOI Corporation)KUALA LUMPUR (April 16): Nextgreen Global Bhd (KL:NGGB), a company which turns oil palm empty fruit bunches (EFB) into pa...",{"id":838,"title":839,"date":840,"body":841,"source":842,"type":843,"image":845,"highlight_image":28,"published":22,"is_featured":814,"updated_at":849,"created_at":850,"content_type":24,"related_news":851,"metatag":852},898,"IOI Corp posts 2Q net profit of RM111.1mil, declares 5c div/share","2025-02-26T00:00:00.000000Z","\u003Cfigure class=\"image image_resized\" style=\"width:100%;\">\u003Cimg class=\"img-fluid\" style=\"aspect-ratio:1105/621;text-align:center;\" src=\"https://www.ioigroup.com/Files/media/image/Mechanical%20Spreader.jpg\" alt=\"\" width=\"1105\" height=\"621\">\u003Cfigcaption>\u003Ci>(File pic by IOI Corporation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp> \u003C/p>\u003Cp>KUALA LUMPUR: \u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://www.thestar.com.my/business/marketwatch/stocks/?qcounter=IOICORP\">IOI Corp Bhd\u003C/a> \u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://charts.thestar.com.my/?s=IOICORP\">\u003Cimg class=\"go-chart\" style=\"box-sizing:border-box;vertical-align:middle;\" src=\"https://cdn.thestar.com.my/Themes/img/chart.png\" pinger-seen=\"true\">\u003C/a> said its bottomline was negatively impacted by forex losses and fair value losses in the second quarter ended Dec 31, 2024 (2QFY25), despite an improved performance in its plantations business.\u003C/p>\u003Cp>In 2QFY25, the group said net profit was RM111.1mil, as compared to RM335.4mil in the year-ago quarter, which translates to a slump in earnings per share to 1.79 sen form 5.41 sen previously.\u003C/p>\u003Cp>IOI reported revenue of RM2.97bil during the quarter under review as compared to RM2.4bil in 2QFY24.\u003C/p>\u003Cp>Announcing its results in a bourse filing, the group said its underlying pre-tax profit of RM504.3mil during the quarter was 31% higher year-on-year (y-o-y) than the pre-tax profit of RM383.6mil in 2QFY24.\u003C/p>\u003Cp>\u003Cspan style=\"color:rgb(33,37,41);\">This was mainly owing to higher contribution from the plantations segment, partially offset by lower contribution from the resource-based manufacturing segment.\u003C/span>\u003C/p>\u003Cp>\u003Cspan style=\"color:rgb(33,37,41);\">However, the group said pre-tax profit was eroded by non-underlying items, comprising a net foreign currency translation loss of RM189.5mil from foreign currency denominated borrowings and deposits, a RM800,000 net fair value loss on biological assets and RM93.5mil net fair value loss on derivative financial instruments.\u003C/span>\u003C/p>\u003Cp>\u003Cspan style=\"color:rgb(33,37,41);\">Over the six months period to Dec 31, 2024, IOI said net profit was RM821.8mil, up from RM639.4mil in 6MFY24, while revenue rose to RM5.64bil from RM4.6bil in the previous corresponding period.\u003C/span>\u003Cbr>\u003Cspan style=\"color:rgb(33,37,41);\">The group declared a first interim dividend of five sen per share, going ex on March 11, 2025, and payable on March 24, 2025.\u003C/span>\u003C/p>\u003Cp>\u003Cspan style=\"color:rgb(33,37,41);\">On outlook, IOI project fresh fruit bunch production to recover strongly over hte next three months as the weather improves and the trees emerge from the low production season.\u003C/span>\u003C/p>\u003Cp>\"Combined with the forecast good CPO price, we maintain a positive outlook on the plantation segment’s financial performance for the remaining periods of FY25,\" said the group.\u003C/p>\u003Cp>In the refinery and commodity marketing sub-segment, the group expects competitive pricing from Indonesia to put pressure on its refining margin, while the operating environment in the oleochemical sub-segment is expected to remain challenging.\u003C/p>\u003Cp>The group's speciality fats sub-segment, represented by associate firm Bunge Loders Croklaan, is expected to see product margins, particularly for cocoa butter equivalents, remain strong in the remaining quarters of FY25.\u003C/p>\u003Cp>\"However, potential US tariffs may disrupt the import of raw materials into BLC’s plants in the US and affect product margins there,\" it added.\u003C/p>\u003Cp>Overall, the group said it expects its operating and financial performance for the remaining quarters of FY25 to be satisfactory.\u003C/p>",{"id":10,"name":11},[844],{"id":14,"name":15},{"name":846,"file_name":847,"url":848},"Mechanical Spreader.jpg","puPzl2oDkDzHZcwSZtjUaSwGnMO0u12Ye1T1sQQn.jpg","https://www.ioigroup.com/storage/923/puPzl2oDkDzHZcwSZtjUaSwGnMO0u12Ye1T1sQQn.jpg","2025-07-01T04:52:58.000000Z","2025-05-04T04:14:26.000000Z",[],{"meta_title":839,"meta_description":853,"meta_keywords":28},"(File pic by IOI Corporation). KUALA LUMPUR: IOI Corp Bhd said its bottomline was negatively impacted by forex losses and fair value losses in the sec...",{"id":855,"title":856,"date":857,"body":858,"source":859,"type":860,"image":862,"highlight_image":28,"published":22,"is_featured":814,"updated_at":865,"created_at":866,"content_type":24,"related_news":867,"metatag":868},887,"IOI Corp's 1Q profit soars 133.8% on forex gain, fair value adjustments","2024-11-26T00:00:00.000000Z","\u003Cfigure>\u003Cfigure class=\"image\">\u003Cimg class=\"img-fluid\" style=\"aspect-ratio:2099/1172;\" src=\"https://www.ioigroup.com/Files/news/image/edge2024.jpg\" alt=\"\" width=\"2099\" height=\"1172\">\u003Cfigcaption>\u003Ci>(File pic by IOI Corporation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cfigcaption> \u003C/figcaption>\u003C/figure>\u003Cp>IOI Corp Bhd's net profit for the first quarter ended Sept 30, 2024 (1QFY2025) jumped 133.8% year-on-year to RM710.7 million from RM304 million in 1QFY2024 on forex translation gains and fair value adjustments on its biological assets.\u003C/p>\u003Cp>IOI Corp Bhd (KL:\u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://theedgemalaysia.com/askedge/klse/1961\">IOICORP\u003C/a>) posted a 133.8% year-on-year jump in its first quarter net profit, primarily driven by foreign exchange (forex) translation gains from its US dollar-denominated borrowings following the strengthening of the ringgit against the greenback, and fair value adjustments on its biological assets and derivative financial instruments.\u003C/p>\u003Cp>It made a net profit of RM710.7 million for the three months ended Sept 30, 2024 (1QFY2025), as opposed to RM304 million in 1QFY2024, while revenue climbed 21.4% to RM2.67 billion from RM2.2 billion, its bourse filing showed.\u003C/p>\u003Cp>Excluding the RM449.5 million gains from the one-off non-operating items — of which RM365.9 million was net forex gain — its underlying profit before tax for 1QFY2025 was RM359.1 million, up 4% from RM344.4 million in 1QFY2024. This was due mainly to higher contribution from its plantation segment on higher crude palm oil and palm kernel prices as well as higher production of fresh fruit bunches (FFB), which resulted in the segment's profit rising 12% to RM353.1 million.\u003C/p>\u003Cp>The stronger plantation segment was partially offset by lower contribution from its resource-based manufacturing business, whose underlying profit dropped 33% to RM37.6 million from RM56.4 million due to lower sales volume and margins from the refining sub-segment, mitigated by higher sales volume and margins from its oleochemical sub-segment nad higher share of associate results.\u003C/p>\u003Cp>Earnings per share jumped to 11.46 sen from 4.9 sen. No dividend was declared for the quarter under review.\u003C/p>\u003Cp>IOI Corp is expecting CPO price, which surged above RM5,000 per tonne at the start of November, to remain high — at above RM4,500 per tonne — during the next three months, supported by tighter palm oil supplies as it heads towards the low crop season. \"However, concerns over lower demand due to high price coupled with the current CPO price premium over soybean oil price will exert some downward pressure on this high CPO price,\" it said.\u003C/p>\u003Cp>The group is also expecting its FFB production is projected to grow moderately compared to FY2024, driven by continued yield improvements in peninsular Malaysia and increased FFB production from maturing young palms in Sabah and Indonesia. \"Combined with the higher CPO price, we maintain a positive outlook on the plantation segment’s financial performance for the remaining periods of FY2025,\" it added.\u003C/p>\u003Cp>As for its refinery and commodity marketing business, it said refining margins had improved due to higher CPO export tax effective Nov 1. \"However, the relatively high refined products price may affect demand in the coming months,\" it said.\u003C/p>\u003Cp>Its oleochemical business, which it said had experienced a recovery in the North Asia market which should remain sustainable through 2QFY2025, will see demand positively supported by normalising freight and logistics costs. \u003C/p>\u003Cp>\"For our specialty fats sub-segment comprising our associate company, Bunge Loders Croklaan (BLC), the product margins have been very favourable and the company is expected to post record-high profit for the current financial year. In the last quarter, we mentioned the impending expiry of a lease over a refinery at Rotterdam which might affect BLC’s operations in Europe. Fortunately, BLC has successfully renewed the lease for another year, which aligns with the expected completion of its new bulk refinery plant complex in Amsterdam by early 2026,\" it added.\u003C/p>\u003Cp>It is also anticipating more forex volatility ahead, influenced by the new US president's policies and the development of US-China geopolitical tensions and the US interest rates. \u003C/p>\u003Cp>\"The Malaysian ringgit had strengthened against the US dollar, [USD] which resulted in forex translation gain from our USD-denominated borrowings in 1QFY2025. However, since then, the ringgit has weakened significantly,\" it noted.\u003C/p>\u003Cp>Overall, the group expects its operating and financial performance for the remaining quarters of FY2025 to be satisfactory.\u003C/p>\u003Cp>IOI Corp’s shares rose one sen to RM3.80 on Tuesday, valuing the group at RM23.88 billion.\u003C/p>",{"id":109,"name":110},[861],{"id":14,"name":15},{"name":863,"file_name":863,"url":864},"edge2024.jpg","https://www.ioigroup.com/storage/705/edge2024.jpg","2025-07-01T04:43:49.000000Z","2025-05-02T09:53:58.000000Z",[],{"meta_title":856,"meta_description":869,"meta_keywords":28},"(File pic by IOI Corporation). IOI Corp Bhd's net profit for the first quarter ended Sept 30, 2024 (1QFY2025) jumped 133.8% year-on-year to RM710.7 mi...",{"id":871,"title":872,"date":873,"body":874,"source":875,"type":876,"image":878,"highlight_image":28,"published":22,"is_featured":814,"updated_at":882,"created_at":866,"content_type":24,"related_news":883,"metatag":884},886,"IOI Corp wins through methodical and holistic approach to sustainability","2024-10-28T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg class=\"img-fluid\" style=\"aspect-ratio:2099/1172;\" src=\"https://www.ioigroup.com/Files/news/image/Picture_Laran.jpg\" alt=\"\" width=\"2099\" height=\"1172\">\u003Cfigcaption>IOI Corp attributes the group’s success in reducing greenhouse gas emissions to the systematic implementation of decarbonisation and circularity strategies. \u003Ci>(File pic by IOI Corporation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp>IOI Corp Bhd (KL:\u003Ca class=\"ce-stock\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://theedgemalaysia.com/askedge/klse/1961\">IOICORP\u003C/a>), which emerged as the gold winner in the plantation sector of \u003Ci>The Edge\u003C/i> Malaysia ESG Awards 2024, has achieved the short-term goal of its climate change action initiative one year ahead of the target year of 2025.\u003C/p>\u003Cp>Group managing director and chief executive Datuk Lee Yeow Chor attributes the group’s success in reducing Scope 1 and 2 greenhouse gas emissions by 40% compared with the 2015 baseline to the systematic implementation of the decarbonisation and circularity strategies.\u003C/p>\u003Cp>These include efforts in methane capture and power generation through biogas power plants in its mills, and rehabilitation and reforestation activities at riparian buffer zones and conservation areas in and around the group’s plantations.\u003C/p>\u003Cp>“Our laran tree planting project, for example, has played a crucial role in enhancing our carbon sequestration capacity, while contributing to the restoration of biodiversity and ecosystem enhancement. Our circularity initiatives in recycling organic waste and repurposing felled oil palm trunks have also helped us optimise the management of waste and natural resources, further strengthening our sustainability practices at every stage of our operations,” he says.\u003C/p>\u003Cfigure class=\"image\">\u003Cimg class=\"img-fluid\" style=\"aspect-ratio:1080/1080;\" src=\"https://www.ioigroup.com/Files/news/image/DL pix 2023 (square).jpg\" alt=\"\" width=\"1080\" height=\"1080\">\u003Cfigcaption>\u003Cstrong>\"Our structured approach has ensured that we achieve each sustainability milestone successfully before advancing to the next, allowing us to build on our success and continuously improve our practices over time\"\u003C/strong> - Lee \u003Ci>(File pic by IOI Corporation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp>The group, he adds, takes pride in its methodical and holistic approach to sustainability. “Our structured approach has ensured that we achieve each sustainability milestone successfully before advancing to the next, allowing us to build on our successes and continuously improve our practices over time,” he says, adding that what sets the group apart from others in the sector is its first-mover advantage.\u003C/p>\u003Cp>Still, the ESG journey has not been without challenges. “To meet the requirements of the latest ESG frameworks and various rating standards, we have been disclosing a lot of information about our ESG performance and progress. However, managing a large wealth of ESG data across our many operating units presents its own set of challenges, particularly in ensuring the transparency of collection, compilation and consolidation of information,” he says.\u003C/p>\u003Cp>“To address this, we have introduced the IOI ESG Digitalisation Platform, a centralised system to help us efficiently monitor and analyse these data to ensure credible reporting and auditability on critical areas, such as carbon footprint, resource management and labour practices, [and] ensure that all data are traceable, verifiable and compliant with international reporting standards.”\u003C/p>\u003Cp>Lee hopes for closer engagement between government agencies and businesses to develop ESG frameworks that are practical and achievable not only for large corporations but also for small players.\u003C/p>\u003Cp>“We advocate for greater consumer awareness through education, socialisation and capacity-building initiatives so that the public can make informed and realistic demands regarding sustainability practices. For investors, we hope to see them broaden their perspectives beyond the financial metrics of ESG performance and consider the broader impacts of social equity, environmental resilience and long-term value creation,” he says.\u003C/p>",{"id":109,"name":110},[877],{"id":14,"name":15},{"name":879,"file_name":880,"url":881},"Picture_Laran.jpg","sTqfBNeOlQhCwp2zGH1FYj1eSTeEGvbQZ0uLsFHQ.jpg","https://www.ioigroup.com/storage/946/sTqfBNeOlQhCwp2zGH1FYj1eSTeEGvbQZ0uLsFHQ.jpg","2025-06-25T06:43:21.000000Z",[],{"meta_title":872,"meta_description":885,"meta_keywords":28},"IOI Corp attributes the group’s success in reducing greenhouse gas emissions to the systematic implementation of decarbonisation and circularity strat...",{"id":887,"title":888,"date":889,"body":890,"source":891,"type":892,"image":894,"highlight_image":28,"published":22,"is_featured":814,"updated_at":897,"created_at":866,"content_type":24,"related_news":898,"metatag":899},885,"IOI oleochemical business set for robust 1H25","2024-10-08T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg class=\"img-fluid\" style=\"aspect-ratio:1024/680;\" src=\"https://www.ioigroup.com/Files/News/image/cover%204.jpg\" alt=\"\" width=\"1024\" height=\"680\">\u003C/figure>\u003Cfigure>\u003Cfigcaption style=\"box-sizing:border-box;font-size:10pt;text-align:center;\">\u003Ci>(File pic by IOI Corporation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp>\u003Cbr>PETALING JAYA: \u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://www.thestar.com.my/business/marketwatch/stocks/?qcounter=IOICORP\">IOI Corp Bhd\u003C/a>’s oleochemical division is expected to perform well in the first half of financial year 2025 (1H25), on the back of improved selling prices and strong demand in Europe.\u003C/p>\u003Cp>AmInvestment Bank Research said European buyers have been stockpiling palm products since July 2024, ahead of the implementation of the European Union Deforestation Regulation (EUDR).\u003C/p>\u003Cp>“We expect the EU to continue stocking up in the 1H25, albeit at a slower pace than 2H24.\u003C/p>\u003Cp>“As a gauge of demand, the average price of crude palm kernel oil (PKO) has risen by 27% year-on-year to RM4,989 per tonne in the first nine months of 2024. PKO is a feedstock for fatty acids,” it said.\u003C/p>\u003Cp>Under the EUDR, European buyers are not allowed to buy palm products sourced from areas that were deforested after Dec 31, 2020. The penalty for non-compliance is set at 4% of turnover.\u003C/p>\u003Cp>Although the EUDR has been postponed to December 2025, IOI had already taken steps to comply with the new regulation.\u003C/p>\u003Cp>The brokerage forecast that IOI’s manufacturing (refining and oleochemicals) earnings before interest and tax (Ebit) would climb by 68.2% to RM303mil in FY25, compared to a peak of RM660.6mil in FY23. “We assume an Ebit margin of 3% in FY25 versus 2% in FY24.”\u003C/p>\u003Cp>For the upstream division, AmInvestment Bank Research assumed a fresh fruit bunch output growth of 5% for IOI in FY25.\u003C/p>\u003Cp>The CPO production cost (cost of sales) is estimated to be RM2,230 per tonne in FY25, down from RM2,330 in FY24.\u003C/p>\u003Cp>Looking ahead, the research house cut IOI’s FY25 net profit forecast by 6% and FY26 net earnings by 9% to account for a lower plantation Ebit margin of 40% for both years, down from 42% previously.\u003C/p>\u003Cp>“We choose to be less aggressive due to inflationary pressures and the risk of a hike in minimum wage in Malaysia.”\u003C/p>",{"id":10,"name":11},[893],{"id":14,"name":15},{"name":895,"file_name":895,"url":896},"cover_4.jpg","https://www.ioigroup.com/storage/704/cover_4.jpg","2025-07-01T04:11:31.000000Z",[],{"meta_title":888,"meta_description":900,"meta_keywords":28},"(File pic by IOI Corporation).PETALING JAYA: IOI Corp Bhd’s oleochemical division is expected to perform well in the first half of financial year 2025...",{"id":902,"title":903,"date":904,"body":905,"source":906,"type":907,"image":909,"highlight_image":28,"published":22,"is_featured":814,"updated_at":912,"created_at":913,"content_type":24,"related_news":914,"metatag":915},883,"Analysts expect brighter outlook for IOI Corp in FY25","2024-08-30T00:00:00.000000Z","\u003Cfigure class=\"image image_resized\" style=\"width:100%;\">\u003Cimg class=\"image_resized img-fluid\" style=\"aspect-ratio:1280/853;text-align:center;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_1a_estate(1).jpg\" alt=\"\" width=\"1280\" height=\"853\">\u003Cfigcaption>\u003Ci>(File pic by IOI Corporation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp>\u003Cbr>KUCHING: IOI Corporation Bhd (IOI Corp) has ended its financial year 2024 (FY24) with results that are largely within expectations, but analysts are expecting a brighter outlook for the plantation player in FY25.\u003C/p>\u003Cp>During the period under review, IOI Corp saw its FY24 core net profit (CNP) declining by 12.4 per cent to RM1.1 billion after excluding an unrealised net forex loss of RM18.9 million.\u003C/p>\u003Cp>The drop was largely due to a steep 52.3 per cent decline in manufacturing earnings from soft downstream performance and a fall in associate contributions in the fourth quarter of FY24 (4QFY24).\u003C/p>\u003Cp>This was offset slightly by a 5 per cent rise in plantation earnings and a drop in effective tax rate from 26 per cent in FY23 to 20.2 per cent in FY24.\u003C/p>\u003Cp>The growth in plantation earnings were caused by a 4.4 per cent improvement in fresh fruit bunch (FFB) though this was offset by lower crude palm oil (CPO) prices that fell by 6.4 per cent from RM4,118 per tonne in FY23 to RM3,856 per tonne in FY24.\u003C/p>\u003Cp>According to Amlnvestment Bank Bhd (Amlnvestment Bank), the increase in FFB is the first increase in 5 years of declines and they attribute this recovery in FFB yields to higher number of estate workers.\u003C/p>\u003Cp>IOI Corp also declared a final gross DPS of 5 sen for 4QFY24 which brought total gross FY24 DPS to 9.5 sen which implies a yield of 2.5 per cent.\u003C/p>\u003Cp>Looking ahead in FY25, Public Investment Bank Bhd (PublicInvest Research) guides that IOI Corp's management is expecting a positive growth for its plantation segment in FY25 on the back of improved FFB production and lower CPO production cost.\u003C/p>\u003Cp>\"FFB production is projected to be higher, led by continuing labour productivity improvement in Peninsular Malaysia and increased production from the young area despite the accelerated replanting programme in Sabah,\" they commented.\u003C/p>\u003Cp>In terms of CPO prices, analysts at Kenanga Investment Bank Bhd's research arm guided that they are expecting CPO prices to not see any drastic changes and average at RM3,800 per tonne for FY25 to 26 as global edible oil supply is not likely to outstrip demand as resultant inventory levels are still supportive for prevailing prices.\u003C/p>\u003Cp>Meanwhile, the group's refining sub-segment is expected to remain subdued due to low refining margins as a result of overcapacity of refineries in Indonesia as well as the price advantage from the country's CPO export duty policy.\u003C/p>\u003Cp>\"Nevertheless, it expects its refining margin to improve going forward due to its capabilities in producing low contaminants oils and its focus on cost optimization,\" said PublicInvest Research.\u003C/p>\u003Cp>Additionally, Amlnvestment Bank Bhd (Amlnvestment Bank) guides that the group's oleochemical sub-segment is also expected to see better performance in the first half of FY25 (1HFY25) as its management is expecting higher demand from the EU due to stocking up activities before the implementation of the EU Deforestation Regulation (EUDR) on Dec 30, 2024.\u003C/p>\u003Cp>\"However, outlook for the refining division remains subdued due to overcapacity in Indonesia,\" they added.\u003C/p>\u003Cp>Besides this, Kenanga Research also notes that the group may see growth from the palm oil circular economy in FY25 from its previous 2023 launch of palm-based wood products and its 2024 tripartite joint venture (JV) to develop non-wood pulp instead from Empty Fruit Bunches (EFB).\u003C/p>\u003Cp>\"Nextgreen Global Bhd will be driving the overall project with Xiamen C&D Corp to focus on marketing and fund raising while IOI Corp will guide on upstream EFB supply chain support,\" the research arm reported.\u003C/p>",{"id":241,"name":242},[908],{"id":14,"name":15},{"name":910,"file_name":910,"url":911},"rsz_1a_estate1.jpg","https://www.ioigroup.com/storage/702/rsz_1a_estate1.jpg","2025-07-01T04:14:44.000000Z","2025-05-02T09:53:57.000000Z",[],{"meta_title":903,"meta_description":916,"meta_keywords":28},"(File pic by IOI Corporation).KUCHING: IOI Corporation Bhd (IOI Corp) has ended its financial year 2024 (FY24) with results that are largely within ex...",{"id":918,"title":919,"date":904,"body":920,"source":921,"type":924,"image":926,"highlight_image":28,"published":22,"is_featured":814,"updated_at":928,"created_at":913,"content_type":24,"related_news":929,"metatag":930},884,"Improving Climate Action Through Circularity and Waste Management: Understanding IOI’s 7Rs Approach","\u003Cp>\u003Cimg class=\"img-fluid\" style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_1a_estate(1).jpg\" width=\"1280\" height=\"853\" alt=\"\">\u003Ci>(File pic by IOI Corporation).\u003C/i>\u003C/p>\u003Cp>In this case study, integrated palm oil player IOI Corporation Berhad explains its holistic approach towards waste management and how it is rooted in the company’s commitment to circularity as a pathway towards achieving net-zero carbon emissions by 2040.\u003C/p>\u003Cp>Industrial waste is often treated in most sectors as a disposal challenge, but agribusinesses have long leveraged on the organic by-products of their crops as valuable resources. Malaysia’s palm oil companies are no exception, using regenerative agricultural techniques such as mulching and organic composting to enrich the soil and improve yields.\u003C/p>\u003Cp>Beyond its economic and environmental benefits, improved waste management is also crucial towards achieving circularity, which in turn plays a part in supporting climate action. At IOI Corporation Berhad, circularity and waste management are part of the integrated palm oil player’s holistic response to climate change, which culminates in its broader goal of achieving net-zero carbon intensity by 2040.\u003C/p>\u003Cp>Embedding circularity within IOI’s operations follows from its overarching strategies to combat climate change. This involves reducing its climate impact to achieve its net-zero goals and promoting climate action via innovation, improved efficiencies and supporting action throughout its upstream and downstream operations.\u003C/p>\u003Ch3>Identifying Circularity as A Material Matter\u003C/h3>\u003Cp>In 2023, IOI identified waste management and the circular economy as one of four new “sustainability material matters”, which are issues that may significantly impact the group’s stakeholders and its business. IOI’s top 10 sustainability material matters were selected following a stringent internal process – from selecting sustainability concerns faced in IOI's operations, determining their impact on internal and external stakeholders, and ensuring the final selection was validated by internal governance parties. \u003Ca href=\"https://www.ioigroup.com/integrated-report/sr/2023/Material-Matters.pdf\">[See graph]\u003C/a>\u003C/p>\u003Cp>To IOI, circularity and waste management matter because irresponsible production and consumption can overexploit natural resources, placing biodiversity and future generations at risk. The company adopts the 7Rs of circularity – Rethink, Repurpose, Reduce, Reuse, Recycle, Repair and Recover – to reduce its greenhouse gas emissions and other environmental impacts. It also disposes of all hazardous wastes following local laws and regulations.\u003C/p>\u003Cp>Practicing the 7Rs has helped the company create closed-loop systems by improving waste management and resource efficiency and are enablers for IOI to align closely to the United Nations’ Sustainable Development Goal 12 of Responsible Consumption and Production.\u003C/p>\u003Cp>\u003Cimg class=\"img-fluid\" src=\"https://www.ioigroup.com/Files/news/image/IOI-7rs-approach.jpg\" width=\"1280\" height=\"342\" alt=\"\">\u003C/p>\u003Ch3>Circularity In Action\u003C/h3>\u003Cp>Developing and executing the 7Rs at IOI begins with ensuring that stakeholders understand the principles of circularity. The firm practices ‘rethinking’ by instilling awareness among employees through talks and trainings such as zero waste, biodiversity through urban farming, and converting waste to treasure, it told Bursa Sustain.\u003C/p>\u003Cp>Rethinking the opportunities associated with oil palm-related waste has led to adoption of the subsequent ‘R’s. For example, IOI reimagined the ways in which felled oil palm trunks (OPT) could be repurposed to become a new material.\u003C/p>\u003Ch3>From old trunks to new wood products\u003C/h3>\u003Cp>Oil palm trees are typically felled for replanting when they have grown too tall to harvest or no longer bear viable fruits. While felled palms are often allowed to decay naturally and in some cases are eaten by pygmy elephants, decaying oil palm trunks (OPT) release greenhouse gases and can potentially attract pests and diseases due to their slow decomposition.\u003C/p>\u003Cp>Given that OPT is the most abundant biomass source at IOI, the group seized the opportunity to repurpose the felled OPT on its plantations into commercially sustainable, eco-friendly wood panels for the furniture and building industries.\u003C/p>\u003Cp>IOI Palm Wood Sdn Bhd was therefore established to commercially produce engineered wood panels sustainably from OPT waste. Repurposing OPT waste into lumber is meant to lock in the carbon emissions, which would otherwise be released into the atmosphere. Furthermore, palm wood can serve as a substitute for traditional timber, easing the pressure on felling natural forests and preserving habitats and ecosystems.\u003C/p>\u003Cp>The IOI Palmwood manufacturing facility is the first in Malaysia, using customised European technology to repurpose the OPT. It has the capacity to produce up to 80,000 cubic metres of palm-based wood products per annum, and its premium products are sold under the commercial brand OnCore. These products include premium grade kiln dried palm lumber, blockboards and palm wood panels, all of which adhere to international quality and safety standards.\u003C/p>\u003Cp>All OnCore products are treated to last for more than a decade which extends their role in emissions storage. The end-of-life OnCore products can also be upcycled or used as bioenergy. This not only expands the circularity potential of this product, but also further enhances the commercial potential of the venture.\u003C/p>\u003Cp>\u003Ci>Source: \u003C/i>\u003Ca href=\"https://www.ioigroup.com/integrated-report/sr/2023/sustainability-report_2023.pdf\">\u003Ci>IOI Corp Sustainability Report 2023\u003C/i>\u003C/a>\u003C/p>\u003Cp>To reduce and reuse wastage on its plantations, IOI employs a combination of regenerative and precision agriculture. Regenerative agriculture involves the use of organic compost – cycling organic waste back as mulch onto the land and weeding manually to limit soil disturbance\u003Csup>1\u003C/sup>. Precision agriculture employs a combination of technologies and innovations to optimise yields, including the use of machines on plantations to transport and evacuate fresh fruit bunches.\u003C/p>\u003Cp>Overall, both regenerative and precision techniques have resulted in a 30 per cent increase in IOI’s worker-to-hectare ratio by increasing productivity. These techniques have also directly reduced IOI’s greenhouse gas emissions, with regenerative agriculture in particular resulting in lower and more precise use of chemical fertilisers and pesticides\u003Csup>2\u003C/sup>.\u003C/p>\u003Cp>Another significant source of greenhouse gas emissions for IOI is the methane released by the waste palm oil mill effluent (POME) from the company’s mills. This methane has been captured and repurposed as a renewable energy source since 2013. IOI currently runs 10 methane capture plants across its mills that produce about 45 million cubic metres of biogas, which is used to fuel boilers and electricity generation. Using captured methane as fuel also means that biomass which was previously burned in the boilers can be used for other purposes such as mulching, fertiliser and activated carbon.\u003C/p>\u003Cp>IOI’s practice of its 7Rs also extend to its treatment of wastewater, particularly via the recycling and reusing of wastewater throughout its operations. Effluent water from the company’s refineries is treated according to local regulations before being recycled and reused. The group’s oleochemical facilities follow a similar process, treated effluents are cycled back into its cooling towers.\u003C/p>\u003Cp>The group practices the final two ‘R’s, ‘repair’ and ‘recover’, by repairing the machineries in its mills and factories, as well as recovering the parts for other uses. On the social front, IOI recovers and donates its older office computers to communities in need, such as schools and welfare homes.\u003C/p>\u003Ch3>Improved Recycling Rates\u003C/h3>\u003Cp>As a result of IOI’s implementation of the 7Rs, its it achieved a 95 per cent recycling rate of non-hazardous waste in its 2023 financial year, a 13 per cent increase compared to the year before. The bulk of this was attributed to its plantation arm, which recycled and reused 97 per cent of non-hazardous waste, mostly comprised of biomass in the form of empty fruit bunches and POME.\u003C/p>\u003Cp>Meanwhile, the company’s refinery business also recycled over 97 per cent of its non-hazardous waste, mainly by repurposing biomass from treated palm oil refinery effluent and ashes from refining operations as fertiliser.\u003C/p>\u003Cp>Moreover, IOI’s oleochemicals reduced their waste disposal volumes by repurposing soap scraps into hygienic scented soaps in collaboration with third parties, while palm oil sludge is being repurposed as a raw material for the cement industry.\u003C/p>\u003Cp>These outcomes demonstrate that the implementation of the 7Rs have helped the group to minimise its environmental impact while unlocking new opportunities for value creation. IOI's success in reducing waste and improving resource efficiency highlights the business case for implementing climate-responsive approaches to waste management and is a testament to the benefits of applied circularity.\u003C/p>\u003Cp>\u003Csup>1\u003C/sup>\u003Ca href=\"https://chinadialogue.net/en/food/can-regenerative-agriculture-transform-palm-oil/\">Dialogue Earth\u003C/a>\u003C/p>\u003Cp>\u003Csup>2\u003C/sup>\u003Ca href=\"https://www.ioigroup.com/integrated-report/sr/2023/sustainability-report_2023.pdf\">IOI Corporation Berhad\u003C/a>\u003C/p>",{"id":922,"name":923},4,"Bursa Malaysia",[925],{"id":14,"name":15},{"name":910,"file_name":910,"url":927},"https://www.ioigroup.com/storage/703/rsz_1a_estate1.jpg","2025-05-13T02:11:19.000000Z",[],{"meta_title":919,"meta_description":931,"meta_keywords":28},"(File pic by IOI Corporation).In this case study, integrated palm oil player IOI Corporation Berhad explains its holistic approach towards waste manag...",{"id":933,"title":934,"date":935,"body":936,"source":937,"type":938,"image":940,"highlight_image":28,"published":22,"is_featured":814,"updated_at":944,"created_at":945,"content_type":24,"related_news":946,"metatag":947},882,"IOI Corp posts ninefold rise in 4Q profit, declares five sen dividend","2024-08-26T00:00:00.000000Z","\u003Cdiv class=\"row justify-content-center ioi-row\">\r\n\u003Cdiv class=\"col-12 col-md-6\">\r\n\u003Cfigure class=\"image\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/WhatsApp Image 2023-12-01 at 11.16.52 AM.jpeg\" width=\"1024\" height=\"768\" class=\"img-fluid\" alt=\"\" />\r\n\u003Cfigcaption>\u003Cem>(File pic by\u003Cspan> \u003C/span>\u003Cspan class=\"ioi-ff-noto\">IOI\u003C/span>\u003Cspan> \u003C/span>Corporation).\u003C/em>\u003C/figcaption>\r\n\u003C/figure>\r\n\u003C/div>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>KUALA LUMPUR (Aug 26): IOI Corp Bhd (KL:IOICORP), Malaysia’s second largest palm oil producer, recorded a ninefold rise in its fourth quarter net profit ended June 30, 2024 (4QFY2024) to RM346.9 million or 5.59 sen per share, from RM37.2 million or 0.60 sen per share a year ago.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>The earnings growth was boosted by a net foreign currency translation gain of RM24.3 million on foreign currency-denominated borrowings and deposits, compared to a loss of RM171.5 million the previous year.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Additionally, there was a net fair value gain of RM5.6 million on biological assets, contrasting with a loss of RM2.8 million in the prior year.\u003C/p>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>The company also saw a higher net fair value gain on derivative financial instruments, which rose to RM61.7 million from RM15 million. Furthermore, the group saw a reversal of impairment loss on  receivables of RM13.2 million for 4QFY2024.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>IOI Corp’s quarterly revenue also climbed 30.19% to RM2.54 billion from RM1.95 billion.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>The group declared a second interim single-tier dividend of five sen per share, bringing its full-year dividend to 9.5 sen per share, from 11 sen.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Regarding the breakdown of segments, IOI Corp said its plantation segment recorded a profit of RM314.2 million, which was 26% higher than the profit of RM250.1 million in 4QFY2023 due to higher crude palm oil (CPO) and palm kernel (PK) prices realised and higher fresh fruit bunch (FFB) production, as well as lower estate costs.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>FFB production rose to 650,000 metric tonnes (mt) from 620,000 mt a year earlier, while the average realised prices for CPO and PK for the quarter increased by 5.43% and 18.77% year-on-year to RM4,118 per mt and RM2,493 per mt, respectively.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Profit from its resource-based manufacturing segment also rose to RM142.2 million as compared to RM47.4 million for 4QFY2023, mainly due to higher margins from the refining sub-segment as well as higher share of associates results, partially offset by lower margins from the oleochemical sub-segment.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>For the full FY2024, the group’s net profit slipped to RM1.109 billion from RM1.11 billion a year earlier, as revenue fell 17.09% to RM9.6 billion from RM11.58 billion.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Going forward, IOI Corp expects higher demand from importing countries as Europe stocks up before the implementation of European Union Deforestation Regulation, combined with concerns over extreme weather and intensified geopolitical tensions disrupting supply chain, which will provide support to CPO prices.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>“For our refinery and commodity marketing sub-segment, the outlook remains subdued due to low refining margins. This is largely due to overcapacity of refineries in Indonesia as well as the raw material price advantage from the country’s CPO export duty policy.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>\"However, we expect our refining margins to improve due to our capabilities in producing low contaminants oils and our focus on cost optimisation,\" it said.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Shares of IOI Corp closed unchanged at RM3.79 on Monday, valuing the group at RM23.82 billion.\u003C/p>\r\n\u003C/div>\r\n\u003C/div>",{"id":109,"name":110},[939],{"id":14,"name":15},{"name":941,"file_name":942,"url":943},"WhatsApp Image 2023-12-01 at 11.16.52 AM.jpeg","329g8dEo1VeYi4o1C4LRWmLlFZzVsWhZSMToPU5d.jpg","https://www.ioigroup.com/storage/947/329g8dEo1VeYi4o1C4LRWmLlFZzVsWhZSMToPU5d.jpg","2025-05-06T06:36:19.000000Z","2025-05-02T09:53:56.000000Z",[],{"meta_title":934,"meta_description":948,"meta_keywords":28},"(File pic by IOI Corporation). KUALA LUMPUR (Aug 26): IOI Corp Bhd (KL:IOICORP), Malaysia’s second largest palm oil producer, recorded a ninefold rise...",{"id":950,"title":951,"date":952,"body":953,"source":954,"type":955,"image":957,"highlight_image":28,"published":22,"is_featured":814,"updated_at":960,"created_at":960,"content_type":24,"related_news":961,"metatag":962},880,"IOI Corp Sees Brighter Skies In 4QFY24","2024-05-27T00:00:00.000000Z","\u003Cdiv class=\"row justify-content-center ioi-row\">\r\n\u003Cdiv class=\"col-12 col-md-6\">\r\n\u003Cfigure class=\"image\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/rsz_img_9915(1).jpg\" width=\"1280\" height=\"853\" class=\"img-fluid\" alt=\"\" />\r\n\u003Cfigcaption>\u003Cem>(File pic by\u003Cspan> \u003C/span>\u003Cspan class=\"ioi-ff-noto\">IOI\u003C/span>\u003Cspan> \u003C/span>Corporation).\u003C/em>\u003C/figcaption>\r\n\u003C/figure>\r\n\u003C/div>\r\n\u003C/div>\r\n\u003Cp>IOI Corp’s 9MFY24 core net profit came in below consensus estimates with RHB Investment Bank (RHB) expecting its upstream earnings to improve on the back of lower costs, while downstream earnings should see gradual improvements from the oleochemical and specialty fats segments.\u003C/p>\r\n\u003Cp>Nevertheless, its valuation remains attractive – at 20x 2024F P/E – which is at the lower end of its peer range of 20-25x. 3QFY24 core earnings are below forecasts, at 66-68% of FY24 estimates, with core net profit falling 24% QoQ in 3Q24, RHB said.\u003C/p>\r\n\u003Cp>RHB maintains a BUY call on IOI, with a lower TP of MYR4.40 from MYR4.75.\u003C/p>\r\n\u003Cp>The main discrepancy was from the lower-than-expected associate earnings, slightly lower-than-expected FFB output and higher-than-expected unit costs.\u003C/p>\r\n\u003Cp>FFB output dropped by 3.5% YoY in 3QFY24, bringing 9MFY24 production to +4.4%, below their 7.4% assumption and management’s guidance of 7-10% for FY24. In 10MFY24, this has risen slightly to 5.3% YoY. IOI has now trimmed its FFB growth guidance to 7% for FY24F.\u003C/p>\r\n\u003Cp>RHB has cut the FY24F FFB growth to 5% (from 7.4%), but maintain 4-5% growth estimates for FY25-26.\u003C/p>\r\n\u003Cp>Estimated unit costs rose by around 14% QoQ in 3QFY24, due to the lower FFB output. Management has estimated its unit cost to be around MYR2,250/tonne (including PK credit) in 9MFY24 (from MYR2,130/tonne in 1HFY24). For FY24F, IOI is now expecting unit costs to decline by 4-5% YoY to MYR2,200/tonne (from previous guidance of MYR2,100/tonne), likely due to lower output guidance.\u003C/p>\r\n\u003Cp>RHB understands IOI’s fertiliser costs for FY24F are approximately 20% lower YoY, while its application in 9MFY24 is on schedule.\u003C/p>\r\n\u003Cp>Downstream margin improved further QoQ to 2.3% in 3Q24 (from 1.5% in 2QFY24, bringing the 9MFY24 margin to 1.5% (from 6.9% in 9M23). The YoY decline came from the negative margin at its refineries and the lower margin for its oleochemical sub-segment.\u003C/p>\r\n\u003Cp>RHB continues to see sequential improvements at its specialty fats associate, driven by its North American business and improving demand from Europe.\u003C/p>\r\n\u003Cp>Going forward, IOI expects its refinery margin to remain weak due to stiff competition from Indonesia, while the oleochemical and specialty fats sub-segments should continue improving as customers have mostly already run down their inventory levels.\u003C/p>",{"id":316,"name":317},[956],{"id":14,"name":15},{"name":958,"file_name":958,"url":959},"rsz_img_99151.jpg","https://www.ioigroup.com/storage/700/rsz_img_99151.jpg","2025-05-02T09:53:55.000000Z",[],{"meta_title":951,"meta_description":963,"meta_keywords":28},"(File pic by IOI Corporation). IOI Corp’s 9MFY24 core net profit came in below consensus estimates with RHB Investment Bank (RHB) expecting its upstre...",{"id":965,"title":966,"date":967,"body":968,"source":969,"type":970,"image":972,"highlight_image":28,"published":22,"is_featured":814,"updated_at":960,"created_at":960,"content_type":24,"related_news":975,"metatag":976},879,"IOI Corp expects 4Q24 FFB production to increase","2024-05-25T00:00:00.000000Z","\u003Cdiv class=\"row justify-content-center ioi-row\">\r\n\u003Cdiv class=\"col-12 col-md-6\">\r\n\u003Cfigure class=\"image\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/rsz_1a_estate(3).jpg\" width=\"1280\" height=\"853\" class=\"img-fluid\" alt=\"\" />\r\n\u003Cfigcaption>\u003Cspan>IOI said fresh fruit bunches production is expected to increase in 4Q24 following the seasonal production cycle. \u003Cem>(File pic by \u003Cspan class=\"ioi-ff-noto\">IOI\u003C/span> Corporation).\u003C/em>\u003C/span>\u003C/figcaption>\r\n\u003C/figure>\r\n\u003C/div>\r\n\u003C/div>\r\n\u003Cp>KUALA LUMPUR: IOI Corp Bhd expects crude palm oil (CPO) price to hover within the range of RM3,700 to RM4,100 per tonne in the next three months.\u003C/p>\r\n\u003Cp>In a filing with Bursa Malaysia, the plantation group noted that CPO prices experienced volatility in recent months.\u003C/p>\r\n\u003Cp>“Looking ahead, we expect an increase in CPO production due to seasonal trends. This increase, coupled with the expected good soybean harvest in South America, may pose challenges for CPO prices.\u003C/p>\r\n\u003Cp>“However, the anticipated replenishment of palm oil stock by importing countries with low inventories will support CPO price,\" IOI said in a statement.\u003C/p>\r\n\u003Cp>For the third quarter ended March 31, 2024 (3Q24), IOI's net profit dropped 37.6% year-on-year (y-o-y) to RM123.1mil or earnings per share (EPS) of 1.98 sen as revenue fell 7% y-o-y to RM2.46bil.\u003C/p>\r\n\u003Cp>For the nine months ended March, the group posted a net profit of RM762.5mil or EPS of 12.29 sen on revenue of RM7.06bil.\u003C/p>\r\n\u003Cp>On its plantation segment, IOI said fresh fruit bunch (FFB) production is expected to increase in 4Q24 following the seasonal production cycle.\u003C/p>\r\n\u003Cp>“Coupled with the continuing labour productivity improvement and higher oil extraction rate due to better FFB quality, we expect the plantation segment to perform well in 4Q24,” it said.\u003C/p>\r\n\u003Cp>IOI anticipates the ongoing low or negative refining margins to persist in its refinery and commodity marketing sub-segment.\u003C/p>\r\n\u003Cp>It added that the overcapacity of refineries in Indonesia and the raw material price advantage from the country's CPO export duty policy are largely the causes for these low or negative refining margins.\u003C/p>\r\n\u003Cp>\"The performance of our oleo-chemical sub-segment is largely dependent on the global economic and trade growth.\u003C/p>\r\n\u003Cp>“With ongoing uncertainties surrounding the global economy and geopolitical tensions affecting global trade, we anticipate our oleochemical sub-segments performance will face continued challenges,\" it said.\u003C/p>\r\n\u003Cp>It said the US dollar-ringgit exchange rate is expected to experience volatility in 4Q24, driven by ongoing geopolitical tensions and uncertainties surrounding the US Federal Reserve's monetary policy.\u003C/p>\r\n\u003Cp>“Overall, the group expects its operating and financial performance for 4Q24 to be satisfactory,\" IOI said.\u003C/p>",{"id":10,"name":11},[971],{"id":14,"name":15},{"name":973,"file_name":973,"url":974},"rsz_1a_estate3.jpg","https://www.ioigroup.com/storage/699/rsz_1a_estate3.jpg",[],{"meta_title":966,"meta_description":977,"meta_keywords":28},"IOI said fresh fruit bunches production is expected to increase in 4Q24 following the seasonal production cycle. (File pic by IOI Corporation). KUALA...",{"id":979,"title":980,"date":981,"body":982,"source":983,"type":986,"image":988,"highlight_image":28,"published":22,"is_featured":814,"updated_at":991,"created_at":992,"content_type":24,"related_news":993,"metatag":994},878,"Tetra Pak, IOI Plantation launch UBC recycling initiative","2024-05-01T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg class=\"img-fluid\" style=\"aspect-ratio:2048/1365;\" src=\"https://www.ioigroup.com/Files/news/image/DSC02692.jpg\" alt=\"\" width=\"2048\" height=\"1365\">\u003Cfigcaption>(File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp> \u003C/p>\u003Cp>Tetra Pak and IOI Plantation join forces to launch the first-ever used beverage carton recycling program in Malaysia’s plantation industry, promoting a circular economy.\u003C/p>\u003Cp>Tetra Pak, a leader in food processing and packaging solutions, has joined forces with IOI Plantation Services Sdn Bhd (IOI Plantation) to promote used beverage carton (UBC) recycling in Malaysia.\u003C/p>\u003Cp>This groundbreaking initiative marks a significant step towards a circular economy for UBCs in the country.\u003C/p>\u003Cp> \u003C/p>\u003Ch4>Tetra Pak pioneering partnership for circularity\u003C/h4>\u003Cp> \u003C/p>\u003Cp>The collaboration signifies the first-ever UBC collection program within the Malaysian plantation industry.\u003C/p>\u003Cp>Launched in October 2022, the program focuses on strengthening the recycling and sorting of UBCs across all IOI Plantation’s operating units in Peninsular Malaysia and Sabah.\u003C/p>\u003Cp>“This innovative program is a major shift for us,” said Terrynz Tan, Tetra Pak Sustainability Director for ASEAN.\u003C/p>\u003Cp>“By working with IOI Plantation, we can raise awareness about the circular economy and promote carton recycling.\u003C/p>\u003Cp>Streamlining UBC collection not only diverts waste from landfills but also creates opportunities for these materials to be repurposed.”\u003C/p>\u003Cp> \u003C/p>\u003Ch4>Multi-faceted approach boosts recycling efforts\u003C/h4>\u003Cp> \u003C/p>\u003Cp>The partnership employs a multifaceted approach, including:\u003C/p>\u003Cul>\u003Cli>\u003Cstrong>Awareness Campaigns:\u003C/strong> Educational programs promoting the importance of UBC recycling are organized for IOI Plantation employees.\u003C/li>\u003Cli>\u003Cstrong>Integration with Existing Recycling Programs:\u003C/strong> UBC collection is seamlessly integrated into IOI Plantation’s current recycling infrastructure.\u003C/li>\u003Cli>\u003Cstrong>UBC Collection Competition:\u003C/strong> A friendly competition among IOI Plantation’s operating units incentivizes UBC collection, with the first round yielding over 18,000 UBCs collected.\u003C/li>\u003C/ul>\u003Cfigure class=\"image\">\u003Cimg class=\"img-fluid\" style=\"aspect-ratio:2048/1365;\" src=\"https://www.ioigroup.com/Files/news/image/DSC00801.jpg\" alt=\"\" width=\"2048\" height=\"1365\">\u003Cfigcaption>(File pic by IOI Corporation).\u003C/figcaption>\u003C/figure>\u003Cp>The MoU signing signifies an expansion of the program to Sabah, demonstrating a commitment to nationwide coverage.\u003C/p>\u003Cp>The initiative also fosters additional income opportunities for IOI Plantation employees through their involvement in the recycling program.\u003C/p>\u003Cp>“This initiative aligns with IOI’s commitment to reduce environmental impact and achieve net-zero greenhouse gas emissions by 2040,” said Dr. Surina Ismail, IOI Chief Sustainability Officer.\u003C/p>\u003Cp>“We are proud to be Tetra Pak’s first plantation partner and are excited to expand the program nationwide. This is a collective effort to preserve our environment and conserve resources.”\u003C/p>\u003Cp>The success of the initial phase paves the way for a nationwide rollout, fostering a more sustainable future for Malaysia’s waste management practices.\u003C/p>",{"id":984,"name":985},95,"Citizens Journal Malaysia",[987],{"id":14,"name":15},{"name":989,"file_name":989,"url":990},"dsc02692.jpg","https://www.ioigroup.com/storage/698/dsc02692.jpg","2025-07-01T04:03:29.000000Z","2025-05-02T09:53:53.000000Z",[],{"meta_title":980,"meta_description":995,"meta_keywords":28},"(File pic by IOI Corporation). Tetra Pak and IOI Plantation join forces to launch the first-ever used beverage carton recycling program in Malaysia’s...",{"id":997,"title":998,"date":999,"body":1000,"source":1001,"type":1004,"image":1006,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1009,"created_at":1010,"content_type":24,"related_news":1011,"metatag":1012},876,"CNBC’s Managing Asia Interview with Dato’ Lee Yeow Chor","2024-04-12T00:00:00.000000Z","\u003Cp>\u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://www.youtube.com/watch?v=aeZmdaQX1PQ&t=5s\">\u003Cimg class=\"image_resized\" style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/news/image/CNBC_VIDEO.png\" alt=\"\">\u003C/a>\u003C/p>\u003Cp> \u003C/p>\u003Cp>Watch the exclusive interview of IOI Group Managing Director and Chief Executive Dato’ Lee Yeow Chor on Managing Asia, CNBC’s ground-breaking interview programme in the Asia-Pacific region. Catch the full interview as Dato’ Lee shares his insights on IOI’s remarkable journey to become a leading and sustainable Malaysian business corporation which is globally recognised today as well as the valuable lessons learnt from his late father, Tan Sri Dr Lee Shin Cheng, the founder of IOI Group.\u003C/p>",{"id":1002,"name":1003},12,"Corporate Communications",[1005],{"id":14,"name":15},{"name":1007,"file_name":1007,"url":1008},"cnbc_video.png","https://www.ioigroup.com/storage/696/cnbc_video.png","2025-07-01T04:06:05.000000Z","2025-05-02T09:53:52.000000Z",[],{"meta_title":998,"meta_description":1013,"meta_keywords":28}," Watch the exclusive interview of IOI Group Managing Director and Chief Executive Dato’ Lee Yeow Chor on Managing Asia, CNBC’s ground-breaking intervi...",{"id":1015,"title":1016,"date":999,"body":1017,"source":1018,"type":1019,"image":1021,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1024,"created_at":992,"content_type":24,"related_news":1025,"metatag":1026},877,"Nextgreen-IOI Corp JV to rope in Xiamen C&D for paper pulp plant in Pahang","\u003Cfigure class=\"image\">\u003Cimg class=\"img-fluid\" style=\"aspect-ratio:1280/960;\" src=\"https://www.ioigroup.com/Files/news/image/Nextgreen-IOI-Xiamen.jpg\" alt=\"\" width=\"1280\" height=\"960\">\u003Cfigcaption>\u003Ci>(File pic by IOI Corporation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp> \u003C/p>\u003Cp>KUALA LUMPUR (April 12): Nextgreen IOI Pulp Sdn Bhd (NIP), a 55:45 joint venture between Nextgreen Global Bhd and IOI Corp Bhd that is planning a RM600 million paper pulp plant in Pekan, Pahang, wants to rope in a Chinese partner to help develop and operate the facility.\u003C/p>\u003Cp>NIP has inked a memorandum of understanding (MOU) with Xiamen C&D Paper & Pulp Group Co Ltd (Xiamen C&D), a wholly-owned subsidiary of Xiamen C&D Inc under Xiamen C&D Corp Ltd, a Fortune 500 company that is involved in supply chain operation and real estate development, among others, for the partnership.\u003Cbr> \u003Cbr>Under the MOU, NIP and Xiamen C&D will establish a joint venture company (JVco), with Nextgreen IOI Pulp holding a 75% stake and Xiamen C&D holding the remaining 25%, according to Nextgreen Global's bourse filing on Friday.\u003C/p>\u003Cp>The paper pulp production facility will be developed across 43 acres of land within the 410-acre Green Technology Park that is part of the Eastern Corridor Economic Region or ECER.\u003C/p>\u003Cp>The initial production capacity is expected to be 100,000 tonnes of paper pulp per annum, made from oil palm empty fruit bunches, using Nextgreen Global’s patented Preconditioning Refiner Chemical-Recycle Bleached Mechanised Pulp (PRC-RBMP) technology.\u003C/p>\u003Cp>NIP will lead in feasibility studies, project preparation, procurement, and business development. It will also engage with stakeholders and external financiers. Xiamen C&D will support business development, assist in securing external financing, and manage the off-take of the facility's output.\u003C/p>\u003Cp>The MOU will be effective for one year until the formation of the JVco.\u003C/p>\u003Cp>In a separate statement, Nextgreen Global director Datuk Lim Thiam Huat said the strategic collaboration reflects both parties' shared commitment to innovation, sustainability, and economic growth, benefiting both parties.\u003C/p>\u003Cp>\"By scaling up the utilisation of the innovative PRC-RBMP technology with our China-based partner, a leading enterprise in paper sales, pulp imports, and sales in China, we aim to pioneer a new era of eco-friendly industrial practices, driving progress and accelerating prosperity for the region and beyond,\" Lim said.\u003C/p>\u003Cp>Shares in Nextgreen settled a sen or 1% higher at RM1.01 on Friday, valuing the group at RM1.03 billion.\u003C/p>",{"id":109,"name":110},[1020],{"id":14,"name":15},{"name":1022,"file_name":1022,"url":1023},"nextgreen_ioi_xiamen.jpg","https://www.ioigroup.com/storage/697/nextgreen_ioi_xiamen.jpg","2025-07-01T03:40:55.000000Z",[],{"meta_title":1016,"meta_description":1027,"meta_keywords":28},"(File pic by IOI Corporation). KUALA LUMPUR (April 12): Nextgreen IOI Pulp Sdn Bhd (NIP), a 55:45 joint venture between Nextgreen Global Bhd and IOI C...",{"id":1029,"title":1030,"date":1031,"body":1032,"source":1033,"type":1034,"image":1036,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1039,"created_at":1040,"content_type":24,"related_news":1041,"metatag":1042},875,"Nextgreen partners IOI Corp for RM600m paper pulp project, expects RM300m revenue by 2026","2024-04-08T00:00:00.000000Z","\u003Cdiv class=\"row justify-content-center ioi-row\">\r\n\u003Cdiv class=\"col-12 col-md-6\">\r\n\u003Cfigure class=\"image\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/Z80_0410_ed.jpg\" width=\"1882\" height=\"1276\" class=\"img-fluid\" alt=\"\" />\r\n\u003Cfigcaption>\u003Cspan>From left: Nextgreen IOI Pulp Sdn Bhd director Lim Kah Yee, Nextgreen Global Bhd MD Datuk Lim Thiam Huat, IOI Group MD Datuk Lee Yeow Chor and Nextgreen IOI Pulp director Amir Mohd Hafiz Amir Khalid. \u003Cem>(File pic by \u003Cspan class=\"ioi-ff-noto\">IOI\u003C/span> Corporation).\u003C/em>\u003C/span>\u003C/figcaption>\r\n\u003C/figure>\r\n\u003C/div>\r\n\u003Cdiv class=\"col-12 col-md-3\">\r\n\u003Cfigure class=\"image\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/20240408_PEO_NEXTGREEN-GLOBAL-BERHAD-SIGNING-CEREMONY-nextgreen-md_PG-4.jpg\" width=\"1200\" height=\"1226\" class=\"img-fluid\" alt=\"\" />\r\n\u003Cfigcaption>\u003Cspan>Nextgreen Global Bhd MD Datuk Lim Thiam Huat said the company has secured a buyer, Japan-based paper pulp trader Marubeni Corp, for its first 100,000 tonnes to be produced by the joint venture when the plant starts production in 2026. (\u003Cem>Photos: The Edge Malaysia)\u003C/em>\u003C/span>\u003C/figcaption>\r\n\u003C/figure>\r\n\u003C/div>\r\n\u003Cdiv class=\"col-12 col-md-3\">\r\n\u003Cfigure class=\"image\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/20240408_PEO_NEXTGREEN-GLOBAL-BERHAD-SIGNING-CEREMONY-IOI-md_PG-1.jpg\" width=\"1200\" height=\"1182\" class=\"img-fluid\" alt=\"\" />\r\n\u003Cfigcaption>\u003Cspan>IOI Corp Bhd MD Datuk Lee Yeow Chor: We have long regarded the utilisation of palm-based biomass for value-added applications as an important activity within the circular economy. (\u003Cem>Photos: The Edge Malaysia)\u003C/em>\u003C/span>\u003C/figcaption>\r\n\u003C/figure>\r\n\u003C/div>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>KUALA LUMPUR (April 8): Nextgreen Global Bhd on Monday signed a shareholders' agreement with IOI Corp Bhd to develop a paper pulp plant in Pahang which may contribute over RM300 million in revenue by 2026.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>The RM600 million paper pulp production facility will be developed and operated by a new joint venture company to be incorporated following the shareholders' agreement. Nextgreen will hold a 55% stake in the joint venture Nextgreen IOI Pulp Sdn Bhd, and IOI Corp will hold the remaining 45%.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>The plant will have an initial annual capacity of 100,000 tonnes of chemical bleached pulp made from oil palm empty fruit bunches (EFB). The EFB, which will be supplied by IOI Corp, is a byproduct waste from oil palm industries that is typically unutilised.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>The venture will transform the agricultural waste into green and sustainable products such as wood-free paper, tissue paper, packaging paper and pulp-moulded packaging.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Nextgreen managing director Datuk Lim Thiam Huat said the company has secured a buyer, Japan-based paper pulp trader Marubeni Corp, for its first 100,000 tonnes to be produced by the joint venture when the plant starts production in 2026.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>\"We have actually gotten the letter of intent from Marubeni for the paper pulp offtaker,” he said at a press conference following the signing ceremony. “But at the same time, this will not limit us from going further to [engage with] customers from China as well.”\u003C/p>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>The plant will be constructed within Nextgreen's 410-acre Green Technology Park in Pekan centred on paper and pulp. In addition, projects in the park also include fertiliser, animal feed, research and education, as well as renewable energy, according to its website.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>So far, only 43 acres of the industrial park have been taken up, but once completed, the entire industrial park is targeted to produce about 400,000 tonnes of paper pulp each year among other projects.\u003C/p>\r\n\u003C/div>\r\n\u003Ch3>\u003Cstrong>\u003Cspan style=\"font-size: 12pt;\">Venture a part of IOI Corp's net zero emissions target\u003C/span>\u003C/strong>\u003C/h3>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>For IOI Corp, the venture with Nextgreen, along with its palm wood venture using oil palm trunks, will help the company achieve its net zero emissions target, said MD Datuk Lee Yeow Chor.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>\"We have long regarded the utilisation of palm-based biomass for value-added applications as an important activity within the circular economy,\" he said. \"This is a good partnership, and we think that this is a very scalable kind of venture with the first plant in Pahang.\"\u003C/p>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>There could be more similar factories that could be set up in East Malaysia, either in Sabah or Sarawak, Lim added.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>For the financial year ended Dec 31, 2023 (FY2023), Nextgreen's net profit fell 29% to RM9.65 million from RM13.61 million in the previous year, despite revenue almost doubling to RM63.73 million from RM32.93 million.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Besides the absence of certain non-operating income, Nextgreen attributed the lower net profit to lower gross profit margin from its construction contracts and reduction in revenue attributed to the printing and publishing segment due to the lower customer orders.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>In FY2023, the manufacturing segment contributed the most revenue to the group at 51.4% of total revenue, followed by property and construction at 43% and printing and publishing at 5.6%.\u003C/p>\r\n\u003Cdiv class=\"row justify-content-center ioi-row\">\r\n\u003Cdiv class=\"col-12 col-md-6\">\u003C/div>\r\n\u003Cdiv class=\"col-12 col-md-3\">\u003C/div>\r\n\u003Cdiv class=\"col-12 col-md-3\">\u003C/div>\r\n\u003C/div>\r\n\u003Cp>\u003C/p>\r\n\u003C/div>\r\n\u003C/div>\r\n\u003C/div>",{"id":109,"name":110},[1035],{"id":14,"name":15},{"name":1037,"file_name":1037,"url":1038},"z80_0410_ed.jpg","https://www.ioigroup.com/storage/695/z80_0410_ed.jpg","2025-07-02T16:51:06.000000Z","2025-05-02T09:53:50.000000Z",[],{"meta_title":1030,"meta_description":1043,"meta_keywords":28},"From left: Nextgreen IOI Pulp Sdn Bhd director Lim Kah Yee, Nextgreen Global Bhd MD Datuk Lim Thiam Huat, IOI Group MD Datuk Lee Yeow Chor and Nextgre...",{"id":1045,"title":1046,"date":1047,"body":1048,"source":1049,"type":1050,"image":1052,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1055,"created_at":1056,"content_type":24,"related_news":1057,"metatag":1058},872,"Declining production costs expected to spur IOI Corp’s earnings","2024-02-27T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg class=\"img-fluid\" style=\"aspect-ratio:1280/853;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_1a_estate(4).jpg\" alt=\"\" width=\"1280\" height=\"853\">\u003Cfigcaption>\u003Ci>(File pic by IOI Corporation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp> \u003C/p>\u003Cp>PETALING JAYA: IOI Corp Bhd is expected to see improvements in earnings, fuelled by declining production costs, sustained growth in fresh fruit bunch (FFB) output, and stabilised crude palm oil (CPO) prices.\u003C/p>\u003Cp>For the first half of its financial year ending June 30, 2024 (1H24), IOI Corp saw its CPO production cost lower by 7% to RM2,130 per tonne, thanks to lower fertiliser prices as well as the improvements in FFB yield and oil extraction rate.\u003C/p>\u003Cp>Hong Leong Investment Bank (HLIB) Research anticipates a continued decline in the production costs, attributing it as a driving force for earnings in 2H24, primarily due to lower fertiliser prices.\u003C/p>\u003Cp>Simultaneously, the research house expects a robust momentum in FFB output growth to persist into the latter half of financial year 2024.\u003C/p>\u003Cp>“This is supported by adequate labour and minimal lag from El Nino last year,” it said. This expectation also follows IOI Corp’s noteworthy 5.9% growth in FFB output in 1H24.\u003C/p>\u003Cp>Kenanga Research, on the other hand, believes IOI Corp’s upstream margins to improve slightly moving ahead as CPO prices look to stay range-bound, while FFB yields improve and input cost eases.\u003C/p>\u003Cp>“An average CPO price of RM3,800 per tonne is still expected on the back of only modest global edible oil supply improvement, while demand looks set to grow between 3% and 4% year-on-year,” it noted.\u003C/p>\u003Cp>The research outfit also sees CPO production cost to ease as fertiliser and fuel prices have dipped between 20% and 40% year-on-year, while FFB output has risen as Malaysian estates welcomed back guest workers.“Nonetheless, cost of labour is expected to continue creeping up due to new shorter working hour ruling and pending new union agreement,” it said.\u003C/p>\u003Cp>On IOI Corp’s downstream, Kenanga Research said it focuses more on specialty and customised products which command better pricing and margins but the operations are not immune to intense competition and demand headwinds, which its refining operation is currently enduring.\u003C/p>\u003Cp>“All in all, the guidance is for meaningful improvement in downstream manufacturing only after financial year 2024 (FY24).\u003C/p>\u003Cp>“Whilst earnings should improve over the next one to two quarters, subdued full-year earnings are still expected for FY24 and FY25 on flattish CPO prices with some margin improvement from easier costs,” it said.\u003C/p>\u003Cp>Similarly, RHB Research expects IOI Corp’s upstream earnings to improve on the back of lower costs, while downstream earnings is expected to see a significant improvement from 1H25.\u003C/p>\u003Cp>It expects refinery margins to remain weak, due to stiff competition from Indonesia, while the oleochemical sub-segment is expected to start seeing an improvement in 1H25 once customers run down their inventory.\u003C/p>\u003Cp>RHB Research said IOI Corp achieved a CPO price of RM3,736 per tonne in 1H24.\u003C/p>\u003Cp>“We understand that it generally sells forward about 20% to 50% of its output three to four months ahead. We project a CPO price of RM3,900 per tonne for FY24,” it noted.\u003C/p>\u003Cp>Touching on this, MIDF Research anticipates IOI Corp’s robust recovery in harvesting activities will help it gain high CPO average selling price attained during the El Nino event in the second quarter of 2024, paving the way for near-term profitability.\u003C/p>",{"id":10,"name":11},[1051],{"id":14,"name":15},{"name":1053,"file_name":1053,"url":1054},"rsz_1a_estate4.jpg","https://www.ioigroup.com/storage/694/rsz_1a_estate4.jpg","2025-07-01T03:42:35.000000Z","2025-05-02T09:53:49.000000Z",[],{"meta_title":1046,"meta_description":1059,"meta_keywords":28},"(File pic by IOI Corporation). PETALING JAYA: IOI Corp Bhd is expected to see improvements in earnings, fuelled by declining production costs, sustain...",{"id":1061,"title":1062,"date":1063,"body":1064,"source":1065,"type":1066,"image":1068,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1056,"created_at":1056,"content_type":24,"related_news":1071,"metatag":1072},871,"IOI posts net profit fall to RM335.4mil, maintains positive outlook on plantations ops","2024-02-23T00:00:00.000000Z","\u003Cdiv class=\"row justify-content-center ioi-row\">\r\n\u003Cdiv class=\"col-12 col-md-6\">\r\n\u003Cfigure class=\"image\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Stock2(4).jpg\" width=\"864\" height=\"592\" class=\"img-fluid\" alt=\"\" />\r\n\u003Cfigcaption>\u003Cem>(File pic by\u003Cspan> \u003C/span>\u003Cspan class=\"ioi-ff-noto\">IOI\u003C/span>\u003Cspan> \u003C/span>Corporation).\u003C/em>\u003C/figcaption>\r\n\u003C/figure>\r\n\u003C/div>\r\n\u003C/div>\r\n\u003Cp>KUALA LUMPUR:\u003Cspan> \u003C/span>IOI Corp Bhd\u003Cspan> \u003C/span>is anticipating a satisfactory second half to its 2024 financial year (FY24) amid the current challenges of the global economic environment.\u003C/p>\r\n\u003Cp>In the second quarter ended Dec 31, 2023, the group posted a net profit of RM335.4mil, which was less than half the net profit of RM712.1mil in the previous corresponding quarter.\u003C/p>\r\n\u003Cp>The group's earnings per share slumped to 5.41 sen from 11.47 sen in the comparative quarter.\u003C/p>\r\n\u003Cp>Revenue, meanwhile, was RM2.4bil, down from RM3.3bil in 2QFY23.\u003C/p>\r\n\u003Cp>The board of directors declared a first interim dividend of 4.5 sen, going ex on March 8, 2024, and payable on March 21, 2024.\u003C/p>\r\n\u003Cp>Over the two quarters, net profit was RM639.4mil compared to RM879.6mil in 1HFY23, while revenue was RM4.6bil against RM6.97bil in the year-ago period.\u003C/p>\r\n\u003Cp>The plantations group said it maintained a positive outlook on the operating performance of its plantation segment for the remaining quarters of FY24 with palm fruits production forecast to be moderately higher than in the comparative period last year.\u003C/p>\r\n\u003Cp>\"This is mainly due to labour productivity improvement as well as higher production from the young palm trees in our Indonesian and Peninsular Malaysian plantations,\" it said in comments accompanying its results filing to the stock exchange.\u003C/p>\r\n\u003Cp>Meanwhile, the group expects continued low or negative refining margins in its refinery and commodity marketing sub-segment, due largely to the overcapacity of refineries in Indonesia coupled with the raw material price advantage from their country’s CPO export duty policy.\u003C/p>\r\n\u003Cp>For its oleochemical sub-segment, the outlook remains challenging due to the uncertainties in the global economy and the US-China geopolitical tensions as well as shipping disruptions and freight costs due to the recent attacks in the Red Sea.\u003C/p>\r\n\u003Cp>The group's specialty fats sub-segment, Bunge Loders Croklaan, is anticipated to be driven by a strong performance in its North American business and the introduction of innovative product application.\u003C/p>\r\n\u003Cp>\"The US Dollar-Ringgit exchange rate which affects the foreign exchange translation gain/loss arising from our USD-denominated borrowings is expected to remain volatile during the first half of 2024,\" it added.\u003C/p>",{"id":10,"name":11},[1067],{"id":14,"name":15},{"name":1069,"file_name":1069,"url":1070},"stock24.jpg","https://www.ioigroup.com/storage/693/stock24.jpg",[],{"meta_title":1062,"meta_description":1073,"meta_keywords":28},"(File pic by IOI Corporation). KUALA LUMPUR: IOI Corp Bhd is anticipating a satisfactory second half to its 2024 financial year (FY24) amid the curren...",{"id":1075,"title":1076,"date":1077,"body":1078,"source":1079,"type":1080,"image":1082,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1085,"created_at":1086,"content_type":24,"related_news":1087,"metatag":1088},870,"IOI's FFB to rise for first time in five years","2024-01-17T00:00:00.000000Z","\u003Cdiv class=\"row justify-content-center ioi-row\">\r\n\u003Cdiv class=\"col-12 col-md-6\">\r\n\u003Cfigure class=\"image\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/rsz_1img20230601124314.jpg\" width=\"2312\" height=\"1734\" class=\"img-fluid\" alt=\"\" />\r\n\u003Cfigcaption>IOI's recovery in FY24 FFB yields is expected to be underpinned by a higher\u003Cbr />number of harvesters. \u003Cem>(File pic by\u003Cspan> \u003C/span>\u003Cspan class=\"ioi-ff-noto\">IOI\u003C/span>\u003Cspan> \u003C/span>Corporation).\u003C/em>\u003C/figcaption>\r\n\u003C/figure>\r\n\u003C/div>\r\n\u003C/div>\r\n\u003Cp>THE team at Amlnvestment Bank Bhd (Amlnvestment Bank) believe that IOI Corporation Bhd's (IOI) fresh fruit bunch (FFB) production growth would be positive for the first time in FY24 since the increase of 11.4 per cent in FY18. \u003C/p>\r\n\u003Cp>To recap, IOI's FFB production fell by an average of five per cent per year from FY19 to FY23. This was mainly due to the drought in 3Q2019 and labour shortage from FY21 to FY23.\u003C/p>\r\n\u003Cp>\"We think that IOI's FFB output would expand by seven per cent in FY24 compared with a decline of 1.5 per cent in FY23,\" it said in a note yesterday.\u003C/p>\r\n\u003Cp>\"We have assumed an average FFB yield of 19.5 tonnes per hectare (ha) in FY24 versus 18.7 tonnes per ha in FY23.\"\u003C/p>\r\n\u003Cp>Amlnvestment Bank said IOI's recovery in FY24 FFB yields is expected to be underpinned by a higher number of harvesters. Recall that foreign workers started arriving in Malaysia from end-2022 to mid-2023.\u003C/p>\r\n\u003Cp>The impact of El Nino is not envisaged to be severe as rainfall was sufficient in Sabah and Peninsular Malaysia last year. IOI's exposure to Indonesia is small.\u003C/p>\r\n\u003Cp>\"On the back of a higher volume of CPO production and lower fertiliser costs, we believe that IOI's cost of production (EBIT level) would ease to RM2,500 per tonne in FY24 from RM2,709 in FY23.”\u003C/p>\r\n\u003Cp>According to Bloomberg, the average price of US corn belt granular potash was US$394 per tonne in 2H23, 42.6 per cent lower than the average of US$687 per tonne in 2H22.\u003C/p>\r\n\u003Cp>As for the manufacturing division (refining and oleochemicals), the research firm believed that global demand for oleochemical products would improve in 2H24 as interest rates plateau or decline.\u003C/p>\r\n\u003Cp>\"Hence, we forecast IOI's manufacturing EBIT to recover by six per cent in FY25 after plummeting by 37.4 per cent in FY24.\u003C/p>\r\n\u003Cp>“IOI commissioned its new oleochemical plant in Penang in July 2023. The plant, which has a production capacity of 110,000 tonnes per year, is more efficient than IOI's older plants.\u003C/p>\r\n\u003Cp>\"The plant produces mainly basic fatty acids and caters to companies in Asia Pacific and Europe. Average utilisation rate of IOI's oleochemical division is 60 per cent.\"\u003C/p>",{"id":241,"name":242},[1081],{"id":14,"name":15},{"name":1083,"file_name":1083,"url":1084},"rsz_1img20230601124314.jpg","https://www.ioigroup.com/storage/692/rsz_1img20230601124314.jpg","2025-07-01T03:39:10.000000Z","2025-05-02T09:53:48.000000Z",[],{"meta_title":1076,"meta_description":1089,"meta_keywords":28},"IOI's recovery in FY24 FFB yields is expected to be underpinned by a highernumber of harvesters. (File pic by IOI Corporation). THE team at Amlnvestme...",{"id":1091,"title":1092,"date":1093,"body":1094,"source":1095,"type":1096,"image":1098,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1102,"created_at":1103,"content_type":24,"related_news":1104,"metatag":1105},869,"Five Malaysian Firms Listed On ‘Top 30 OIC Halal Products Companies 2023’","2023-12-29T00:00:00.000000Z","\u003Cfigure>\u003Cfigcaption>\u003Cimg class=\"img-fluid\" style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/news/image/BBS_15205844371-696x348.jpg\" width=\"696\" height=\"348\" alt=\"\">\u003Ci>Salaam Gateway, in partnership with DinarStandard, has released a ranking of the top 30 halal products companies domiciled in 57 member states of the OIC (Organization of Islamic Cooperation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp>The ‘Top 30 OIC Halal Products Companies 2023’ list presents a roster of strong regional enterprises that are well-positioned to champion strategies for halal market growth from the trade bloc. The OIC markets represent the majority of the US$1.595 trillion global Muslim consumption of food, pharmaceuticals, and cosmetics.\u003C/p>\u003Cp>The ranking features countries from Southeast Asia, South Asia, and the GCC, with Indonesia dominating the list with 15 companies. Malaysia ranked second with five firms, followed by Saudi Arabia (4) and the UAE (2). The companies were judged on their halal market initiatives and intra-OIC exports.\u003C/p>\u003Cp>Biofarma Indonesia, Southeast Asia’s largest vaccine producer, topped the rankings. Malaysia’s Duopharma Biotech, Indonesia’s Indofood CBP Sukses Makmur and Paragon Technology and Innovation (Wardah), and the UAE’s Al Islami rounded off the top five.\u003C/p>\u003Cp>Besides Duopharma Biotech, Malaysian companies that made it to the ranking include agri-business conglomerate FGV Holdings Berhad, integrated pharmaceutical company Pharmaniaga, palm oil producer IOI Corporation Berhad, and fast-food chain Marrybrown.\u003C/p>\u003Cp>Among commodities, palm oil was heralded as one of the most important vis-à-vis OIC exports. Halal vaccines and biopharmaceuticals also emerged strongly on the list, having gained momentum since the outbreak of the COVID-19 pandemic. Meanwhile, notable halal cosmetics companies, such as Paragon and Martha Tilaar, found space in the ranking.\u003C/p>\u003Cp>Rafi-uddin Shikoh, Managing Partner of DinarStandard, said: “Across the leading OIC-member countries, there is a clear recognition of the halal products market as part of national economic growth policies, an increasing focus on food and medicinal security, and halal compliance integrity. This ‘Top 30 OIC Halal Products Companies’ list is meant to highlight the champions from their domestic ecosystems to realize these strategic objectives.”\u003C/p>\u003Cp>Southeast Asian halal products companies established their dominance on the list, having leveraged a formidable Muslim population, rising consumer awareness, regional trade ties, and conducive regulations overseeing local halal industries. Burgeoning government-led initiatives for food stability, a rise in homegrown brands, and a thriving, well-versed population are also augmenting GCC halal industry companies.\u003C/p>\u003Cp>Observations suggest that increasing halal products awareness and compliance beyond the food space have been rising steadily over the years, particularly in Southeast Asia. Additionally, more companies are integrating ESG (environment, social, and governance) elements as well as ‘halal’ certifications as part of their business value proposition.\u003C/p>",{"id":316,"name":317},[1097],{"id":14,"name":15},{"name":1099,"file_name":1100,"url":1101},"BBS_15205844371-696x348.jpg","Enfq9BeHYvDIW3LErnwBw8F6TAKrIYWyNpq1OSHV.jpg","https://www.ioigroup.com/storage/924/Enfq9BeHYvDIW3LErnwBw8F6TAKrIYWyNpq1OSHV.jpg","2025-05-04T07:46:31.000000Z","2025-05-02T09:53:47.000000Z",[],{"meta_title":1092,"meta_description":1106,"meta_keywords":28},"Salaam Gateway, in partnership with DinarStandard, has released a ranking of the top 30 halal products companies domiciled in 57 member states of the...",{"id":1108,"title":1109,"date":1110,"body":1111,"source":1112,"type":1113,"image":1115,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1119,"created_at":1103,"content_type":24,"related_news":1120,"metatag":1121},868,"Bargain sales community initiative pays it forward","2023-12-08T00:00:00.000000Z","\u003Cfigure>\u003Cp>\u003Cimg class=\"img-fluid\" src=\"https://www.ioigroup.com/Files/news/image/IMG_4762 (1).jpg\" width=\"2822\" height=\"2116\" alt=\"\">\u003C/p>\u003Cfigcaption>Recipients and organisers cheering the success of Bargain Basement, which has several outlets including (below) at IOI City Mall, Putrajaya.\u003Cbr> \u003C/figcaption>\u003C/figure>\u003Cp>IOI Foundation’s social enterprise donated RM400,000 to 18 beneficiaries from proceeds of Bargain Basement sales.\u003Cbr> \u003C/p>\u003Cp>Bargain Basement is a community initiative by the foundation, formerly known as Yayasan Tan Sri Lee Shin Cheng.\u003Cbr> \u003C/p>\u003Cp>It provides high-quality used or new items at affordable prices and proceeds are donated to deserving beneficiaries.\u003Cbr> \u003C/p>\u003Cp>IOI Foundation executive director and founder of Bargain Basement Datin Joanne Wong said the initiative was launched in 2016 and was going strong.\u003Cbr> \u003C/p>\u003Cp>“Unlike most bargain shops, ours is very neat and items are all tagged.\u003Cbr> \u003C/p>\u003Cp>“Even B40 category household buyers can contribute to charity when they shop here as their money spent will be channelled to selected causes.\u003Cbr> \u003C/p>\u003Cp>“Our beneficiaries consist of schools and tertiary organisation, healthcare support foundations, shelter homes, animal shelters and non-profit organisations,” she said at IOI City Mall after the donation ceremony.\u003Cbr> \u003C/p>\u003Cp>She said beneficiaries were chosen by the donors, staff and customers at Bargain Basement.\u003Cbr> \u003C/p>\u003Cp>The recipients this time around were Cherishlife Home, Rumah Charis, Epic Homes, Sisters in Islam, Hospis Malaysia, SJK(C) Chen Moh, Lifecare Community Services, SJK(C) Tshing Nian, Malaysian Association of Paediatric Palliative Care, Society for the Prevention of Cruelty to Animals, PAWS Animal Welfare Society, Society for the Severely Mentally Handicapped, Persatuan Daybreak, The Edge Education Foundation, Pertubuhan Amal Uncle Kentang Malaysia, The Lost Food Project, Pusat Jagaan Al-Fikrah Malaysia and Universiti Tunku Abdul Rahman (UTAR).\u003Cbr> \u003C/p>\u003Cp>Since the inception of Bargain Basement, some RM1mil in donations have benefitted various groups.\u003C/p>\u003Cp>The initiative hopes to enable the public to recycle items that are still in good use and to declutter homes.\u003C/p>\u003Cp>Bargain Basement was first opened in IOI City Mall, Putrajaya in 2016, followed by the second shop at IOI Mall, Puchong in 2017.\u003Cbr> \u003C/p>\u003Cp>Two other shops were later opened at UTAR, operated by students within the university campuses.\u003C/p>\u003Cp>Wong said the social enterprise served as a form of aid to the community especially in times of great economic challenges.\u003Cbr> \u003C/p>\u003Cp>It also offers environmental benefits with reduction in waste discarded to the landfill.\u003Cbr> \u003C/p>\u003Cp>“Bargain Basement has been making a positive impact with its sustainable concept of selling pre-owned items at affordable prices. The nett proceeds are then utilised to support local charities.\u003Cbr> \u003C/p>\u003Cp>“The corporate social responsibility initiative has led Bargain Basement to achieve a total of RM928,468 in proceeds that were donated to 50 beneficiaries over the years,” Wong said.\u003Cbr> \u003C/p>\u003Cp>One of the beneficiaries is Hospis Malaysia which provides palliative care to patients and their caregivers.\u003C/p>\u003Cp>Its communications and fundraising executive Subashini Rajasekaran said the funds donated would go to patient care support.\u003Cbr> \u003C/p>\u003Cp>“It costs us RM30 a day to treat one patient. At any given time, we have about 500 patients that benefit from our care,” she said.\u003C/p>",{"id":10,"name":11},[1114],{"id":14,"name":15},{"name":1116,"file_name":1117,"url":1118},"IMG_4762 (1).jpg","j76a7lPCVFdzkHCTxxsdardTAQD9SGmVhpU7GjFA.jpg","https://www.ioigroup.com/storage/948/j76a7lPCVFdzkHCTxxsdardTAQD9SGmVhpU7GjFA.jpg","2025-05-13T10:08:19.000000Z",[],{"meta_title":1109,"meta_description":1122,"meta_keywords":28},"Recipients and organisers cheering the success of Bargain Basement, which has several outlets including (below) at IOI City Mall, Putrajaya. IOI Found...",{"id":1124,"title":1125,"date":1126,"body":1127,"source":1128,"type":1131,"image":1133,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1137,"created_at":1103,"content_type":24,"related_news":1138,"metatag":1139},867,"Bargain Basement A Potential For StarProperty Readers’ Choice 2024 Award","2023-12-06T00:00:00.000000Z","\u003Cp>\u003Cimg class=\"img-fluid\" style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/news/image/BargainBasement Logo.png\" alt=\"\">\u003C/p>\u003Cp> \u003C/p>\u003Cp>\u003Cstrong>PETALING JAYA:\u003C/strong> Bargain Basement, a community initiative of IOI Foundation, which provides quality used or new items at affordable prices for a good cause that puts it a potential for the StarProperty Readers’ Choice 2024 Award.\u003C/p>\u003Cp>Every year, three award categories with public voting for the StarProperty Readers’ Choice are conducted in conjunction with a virtual award showcase, which will be held in April this year. This year’s categories are:\u003C/p>\u003Col>\u003Cli>Most Preferred Developer\u003C/li>\u003Cli>Most Heart-Warming CSR (corporate social responsibility) Initiative\u003C/li>\u003Cli>The Newsmaker of the Year\u003C/li>\u003C/ol>\u003Cp>Bargain Basement, initiated by founder Datin Joanne Wong, began in 2016. The CSR initiative sells used and new items, ranging from clothing, shoes and bags to household items, books and fashion accessories, which are donated by members of the public. \u003C/p>\u003Cp>Bargain Basement recently contributed RM400,000 of its net proceeds to 18 beneficiaries, marking a significant milestone of nearly RM1,000,000 in total donations to 50 beneficiaries since its inception.\u003C/p>\u003Cp>The following are the 18 recipients:\u003C/p>\u003Col>\u003Cli>Cherishlife Home\u003C/li>\u003Cli>Epic Homes\u003C/li>\u003Cli>Hospis Malaysia\u003C/li>\u003Cli>Lifecare Community Services\u003C/li>\u003Cli>Malaysian Association of Paediatric Palliative Care (MAPPAC)\u003C/li>\u003Cli>PAWS Animal Welfare Society\u003C/li>\u003Cli>Persatuan Daybreak\u003C/li>\u003Cli>Pertubuhan Amal Uncle Kentang Malaysia\u003C/li>\u003Cli>Pusat Jagaan Al-Fikrah Malaysia\u003C/li>\u003Cli>Rumah Charis\u003C/li>\u003Cli>Sisters in Islam\u003C/li>\u003Cli>SJK (C) Chen Moh\u003C/li>\u003Cli>SJK (C) Tshing Nian\u003C/li>\u003Cli>Society for the Prevention of Cruelty to Animals (SPCA)\u003C/li>\u003Cli>Society for the Severely Mentally Handicapped (SSMH)\u003C/li>\u003Cli>The Edge Education Foundation\u003C/li>\u003Cli>The Lost Food Project\u003C/li>\u003Cli>Universiti Tunku Abdul Rahman (UTAR)\u003C/li>\u003C/ol>\u003Cp>Wong believed that Bargain Basement is not only a platform that serves as a form of aid to the community, especially in times of great economic challenges, but also a good source of purpose for the environment. \u003C/p>\u003Cp>She said: “Our stores are also a sustainable form of aid to the environment as we inculcate the culture of recycling, reusing, and in many cases, repairing the items that we receive.”\u003C/p>\u003Cp>The flagship outlet is located in IOI City Mall, Putrajaya and the second branch was opened in IOI Mall, Puchong. In addition, two branches are located in the Sungai Long and Kampar campuses of Universiti Tunku Abdul Rahman (UTAR), which are operated by UTAR students. \u003C/p>",{"id":1129,"name":1130},16,"StarProperty.my",[1132],{"id":14,"name":15},{"name":1134,"file_name":1135,"url":1136},"BargainBasement Logo.png","r9xpomBEhw1viLIldFfL0c5BTOhSL4DSh8HcFzJL.png","https://www.ioigroup.com/storage/949/r9xpomBEhw1viLIldFfL0c5BTOhSL4DSh8HcFzJL.png","2025-05-04T07:48:21.000000Z",[],{"meta_title":1125,"meta_description":1140,"meta_keywords":28}," PETALING JAYA: Bargain Basement, a community initiative of IOI Foundation, which provides quality used or new items at affordable prices for a good c...",{"id":1142,"title":1143,"date":1144,"body":1145,"source":1146,"type":1147,"image":1149,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1152,"created_at":1152,"content_type":24,"related_news":1153,"metatag":1154},866,"IOI Corp 1Q profit up 82% y-o-y, revenue reverses declining trend","2023-11-28T00:00:00.000000Z","\u003Cdiv class=\"row justify-content-center ioi-row\">\r\n\u003Cdiv class=\"col-12 col-md-6\">\r\n\u003Cfigure class=\"image\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/report.png\" width=\"801\" height=\"518\" class=\"img-fluid\" alt=\"\" />\r\n\u003Cfigcaption>\u003Cspan>IOI Corp anticipates moderate increase in FFB production for FY2024 compared with FY2023 despite the ongoing accelerated replanting programme in Sabah, on availability of workers and higher production from the young palm trees in Indonesia and West Malaysia. \u003Cem>(File pic by \u003Cspan class=\"ioi-ff-noto\">IOI\u003C/span> Corporation).\u003C/em>\u003C/span>\u003C/figcaption>\r\n\u003C/figure>\r\n\u003C/div>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>KUALA LUMPUR (Nov 28): IOI Corp Bhd's net profit jumped 81.48% to RM304 million for the first quarter ended Sept 30, 2023 (1QFY2024), from RM167.5 million a year before, lifted by lower tax expenses, higher share of results of associates and a joint venture.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Lower tax expenses of RM62 million for 1QFY2024, down by 56% from RM142.1 million previously, share of results of associates rose 57% to RM125.5 million, from RM79.7 million previously, and share of results of a joint venture increased to RM1.3 million, from RM200,000 previously.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>The better quarterly earnings were also helped by a net foreign currency translation gain of RM7.9 million, against a translation loss of RM147.3 million previously, the oil palm company's bourse filing showed.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>As a result, its earnings per share stood at 4.9 sen for 1QFY2024, higher than 2.7 sen for 1QFY2023.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Quarterly revenue fell 39.92% year-on-year (y-o-y) to RM2.2 billion, from RM3.67 billion, mainly due to lower contributions from both its plantation as well as resource-based manufacturing segments.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Its plantation segment profit was down by 6% to RM330.8 million in 1QFY2024, from RM351.8 million a year ago, due mainly to lower crude palm oil (CPO) and palm kernel (PK) prices, offset by higher fresh fruit bunches (FFB) production and higher share of associates’ results.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Its average CPO price realised fell to RM3,789 per tonne from RM4,496 previously, while the PK price fell to RM2,100 per tonne from RM2,524.  \u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>As for its resource-based manufacturing segment, profit fell 55% to RM57.7 million from RM128.5 million, mainly on lower margins and volume, mitigated by the higher share of results from vegetable oil producer associate Bunge Loders Croklaan Group BV (BLC).\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>The latest results signal a rebound in performance as quarterly revenue ended a declining trend seen since 2022, with a 13% increase quarter-on-quarter (q-o-q) from RM1.95 billion in 4QFY2023, while net profit rose eight-fold from RM37.2 million, on higher contribution from all segments, including plantation as FFB production grew q-o-q.  \u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Going forward, IOI Corp expects CPO price to range at RM3,750 to RM4,050 per tonne in the next two months before moving higher, as the monsoon season may disrupt harvesting and cause a drop in palm oil stock in 1Q2024.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>It anticipates moderate increase in FFB production for FY2024 compared with FY2023 despite the ongoing accelerated replanting programme in Sabah, on availability of workers and higher production from the young palm trees in Indonesia and West Malaysia.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Concurrently, it sees lower production cost, due to the higher palm fruits yield and decline in fertiliser and diesel costs compared to FY2023.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>“We continue to hold a positive outlook on the financial performance of the plantation segment for the remaining financial quarters,” it added.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>On the refinery and commodity marketing sub-segment, it expects pressure on margins to remain, largely due to stiff competition from Indonesian refiners who benefit from their country’s CPO export duty policy.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Outlook for its oleochemical sub-segment remains subdued in light of the weak global economic environment and rising geopolitical tensions that undermined global trade, it added.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>“Our new fatty acid and soap noodle plants have reduced our production cost and at the same time give us the flexibility to tailor our products to meet customer requirements,” it explained.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>For Bunge Loders Croklaan, IOI Corp said its performance is less dependent on global economic growth as demand for food is more resilient. Its performance will be driven by the North America business and introduction of innovative product applications, it said.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>IOI Corp share price closed four sen or 1.01% higher at RM3.99, giving the group a market capitalisation of RM25.08 billion.\u003C/p>\r\n\u003C/div>",{"id":109,"name":110},[1148],{"id":14,"name":15},{"name":1150,"file_name":1150,"url":1151},"report.png","https://www.ioigroup.com/storage/690/report.png","2025-05-02T09:53:46.000000Z",[],{"meta_title":1143,"meta_description":1155,"meta_keywords":28},"IOI Corp anticipates moderate increase in FFB production for FY2024 compared with FY2023 despite the ongoing accelerated replanting programme in Sabah...",{"id":1157,"title":1158,"date":1159,"body":1160,"source":1161,"type":1162,"image":1164,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1167,"created_at":1167,"content_type":24,"related_news":1168,"metatag":1169},865,"IOI Corp Bhd - Taking it further than ‘do no further harm’","2023-11-13T00:00:00.000000Z","\u003Cdiv class=\"row justify-content-center ioi-row\">\r\n\u003Cdiv class=\"col-12 col-md-6\">\r\n\u003Cfigure class=\"image\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/palm-oil-production-seen-surging-in-malaysia.jpeg\" width=\"1600\" height=\"1066\" class=\"img-fluid\" alt=\"\" />\r\n\u003Cfigcaption>\u003Cem>(File pic by\u003Cspan> \u003C/span>\u003Cspan class=\"ioi-ff-noto\">IOI\u003C/span>\u003Cspan> \u003C/span>Corporation).\u003C/em>\u003C/figcaption>\r\n\u003C/figure>\r\n\u003C/div>\r\n\u003C/div>\r\n\u003Cp>\u003Cspan>In the face of natural disasters occurring in all corners of the world, IOI Corp Bhd recognised that the concept of “do no further harm” is increasingly insufficient in addressing the loss of natural capital and the onset of climate tipping points.\u003C/span>\u003C/p>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>“As a corporation, we are aware, now more than ever, that the fate of the natural environment is deeply intertwined with our operations,” Datuk Lee Yeow Chor, the company’s group managing director and chief executive, said in its 2023 Sustainability Report.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>“The balance of people, planet and prosperity plus partnership that we have continually emphasised becomes even more important in order to manage the intertwined risks posed by climate change, biodiversity loss, food security and social inequality,” said Lee.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Given its commitment to making sure that its business is sustainable in all aspects of environmental, social and governance (ESG), it is not surprising that the group, which has a global presence, emerged as a joint winner of The Edge Billion Ringgit Club’s Best CR Initiatives among Big Cap Companies of RM10 billion to RM40 billion market capitalisation.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>In terms of the environment, after it introduced its Climate Change Action initiative (CCAi) back in 2019, it took steps to align the CCAi with the Task Force on Climate-Related Financial Disclosures framework that formed the basis for the group’s path towards decarbonising its business operations and building climate resilience. It aims to not only decarbonise its current activities but to also seek technologies and innovations to help design activities that will decarbonise future businesses and operations.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>“I am happy to report that we are on track to meet our short-term target of a 40% greenhouse gas (GHG) reduction by 2025 for Scopes 1 and 2 (based on 2015 level). Following this consistent performance, the group launched its long-term target to achieve net zero GHG emissions by 2040 for Scopes 1, 2 and 3,” Lee said in the group’s 2023 annual report.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>As a pledge towards transparency and disclosure, the group further committed to the Science-based Target initiative in the category of Forest, Land and Agriculture in March this year, reiterating its commitment to zero deforestation and to develop verifiable science-based emission reduction targets.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>On that note, the group has, in terms of biodiversity, been crafting strategies to enhance its role while monitoring its impact on the overall ecosystem in which it operates.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>“On the social front, the group continues to protect its employees’ welfare and safety by implementing policies and guidelines such as the Worker’s Work Verification Guidelines and adhering to IOI’s Code of Conduct on Ethical Recruitment and Responsible Employment to protect the rights of our workforce. We also continued with the child education initiative to counter child labour which we launched in 2021,” Lee said.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>The group has also, in FY2023, strengthened its sustainability governance by introducing a Board Sustainability Committee, chaired by an independent non-executive director, to enable the board to exercise better oversight over the group’s sustainability matters and ESG practices; and to ensure IOI’s activities and disclosures are in line with various local and global sustainability frameworks, standards and requirements it has committed to.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>Meanwhile, in the more traditional sense of corporate social responsibility, IOI, via IOI Foundation — a charitable foundation formerly known as Yayasan Tan Sri Lee Shin Cheng, named after its founder and funded by the group and its sister company, IOI Properties Group Bhd — has awarded more than 337 students with university scholarships and adopted more than 1,500 students under its Student Adoption Programme.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>The foundation also operates Bargain Basement, a charity retail-based establishment that sells pre-loved items (as well as unused or excess goods) at affordable prices, with four outlets in Putrajaya, Selangor and Perak. In addition to that, the foundation has been sponsoring after-school science, technology, engineering and mathematics programmes in collaboration with Universiti Tunku Abdul Rahman.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>“The group remains steadfast on building sustainable growth and is committed to the disciplined execution of its Five-Year Plan, despite the weaker external environment,” Lee said, referring to the plan initiated in March 2020 to steer the group’s progress from a cost-competitive palm oil producer to a high-value-added, diversified palm-based product producer. In its fourth year now, the plan is driven by priorities to build sustainable growth for the group.\u003C/p>\r\n\u003C/div>\r\n\u003Cdiv class=\"newsTextDataWrapInner\">\r\n\u003Cp>“In pursuing these objectives, our team continues to uphold a values-centric culture based on the six IOI core values: integrity, commitment, team spirit, cost efficiency, innovation, and excellence in execution,” he added.\u003C/p>\r\n\u003C/div>",{"id":109,"name":110},[1163],{"id":14,"name":15},{"name":1165,"file_name":1165,"url":1166},"palm_oil_production_seen_surging_in_malaysia.jpeg","https://www.ioigroup.com/storage/689/palm_oil_production_seen_surging_in_malaysia.jpeg","2025-05-02T09:53:44.000000Z",[],{"meta_title":1158,"meta_description":1170,"meta_keywords":28},"(File pic by IOI Corporation). In the face of natural disasters occurring in all corners of the world, IOI Corp Bhd recognised that the concept of “do...",{"id":1172,"title":1173,"date":1174,"body":1175,"source":1176,"type":1177,"image":1179,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1183,"created_at":1167,"content_type":24,"related_news":1184,"metatag":1185},864,"Morisem 3 Estate Accorded National OSH Awards 2022","2023-10-26T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg class=\"img-fluid\" style=\"aspect-ratio:2349/1761;\" src=\"https://www.ioigroup.com/Files/news/image/1. NOSH 2022.jpg\" alt=\"\" width=\"2349\" height=\"1761\">\u003Cfigcaption>\u003Ci>(File pic by IOI Corporation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp> \u003C/p>\u003Cp>IOI Plantation Services Sdn Bhd’s (IOI Plantation) Morisem 3 Estate in the Lahad Datu Region walked away with the prestigious National Occupational Safety and Health (National OSH Award) 2022 in the Agriculture category at the National OSH Awards 2022 ceremony which was held on 25 October 2023 at the One World Hotel in Petaling Jaya, Selangor.\u003C/p>\u003Cp>Organised by the National Council of Occupational Safety and Health (NCOSH), the National OSH Awards recognise organisations from various sectors and industries that have shown exceptional performance and achievements in ensuring occupational safety and health excellence at the workplace, and award individuals who have demonstrated excellent performance, commitment and contribution.\u003C/p>\u003Cp>Morisem 3 Estate was selected as one of the semi-finalists, which led to a successful audit in February 2023. Our estate emerged as the winner in a final audit in August 2023 against two competitors due to our outstanding OSH innovation that included Morisem 3 Estate’s safety driver simulator. Our IOI Plantation Director proudly accepted the award from the Deputy Human Resources Minister Datuk Ts. Mustapha Sakmud during the award presentation.\u003C/p>\u003Cp>We are thankful for the recognition by NCOSH, and proud of the teamwork, persistence and innovation of our employees.\u003C/p>\u003Cp>\u003Cimg class=\"img-fluid\" src=\"https://www.ioigroup.com/Files/news/image/2. NOSH 2022.jpg\" alt=\"\" width=\"2501\" height=\"1787\">\u003C/p>\u003Cp>\u003Cimg class=\"img-fluid\" src=\"https://www.ioigroup.com/Files/news/image/5. NOSH 2022.jpg\" alt=\"\" width=\"2553\" height=\"1915\">\u003C/p>",{"id":1002,"name":1003},[1178],{"id":14,"name":15},{"name":1180,"file_name":1181,"url":1182},"1. NOSH 2022.jpg","j7p5EeI9v4gRAcWtGwSwQHnMm0BptACks1ed3Fo3.jpg","https://www.ioigroup.com/storage/950/j7p5EeI9v4gRAcWtGwSwQHnMm0BptACks1ed3Fo3.jpg","2025-07-01T03:36:48.000000Z",[],{"meta_title":1173,"meta_description":1186,"meta_keywords":28},"(File pic by IOI Corporation). IOI Plantation Services Sdn Bhd’s (IOI Plantation) Morisem 3 Estate in the Lahad Datu Region walked away with the prest...",{"id":1188,"title":1189,"date":1190,"body":1191,"source":1192,"type":1193,"image":1195,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1167,"created_at":1167,"content_type":24,"related_news":1198,"metatag":1199},863,"IOI Corp Registers RM37.2mil Net Profit in 4Q","2023-08-22T00:00:00.000000Z","\u003Cdiv class=\"row justify-content-center ioi-row\">\r\n\u003Cdiv class=\"col-12 col-md-6\">\r\n\u003Cfigure class=\"image\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/Resized01(1).jpg\" style=\"width: 100%;\" class=\"img-fluid\" alt=\"\" />\r\n\u003Cfigcaption>(File pic by IOI Corporation)\u003C/figcaption>\r\n\u003C/figure>\r\n\u003C/div>\r\n\u003C/div>\r\n\u003Cp>\u003C/p>\r\n\u003Cp>\u003Cspan>PETALING JAYA: IOI Corp Bhd \u003C/span>expects the outlook for its oleochemical sub-segment to remain subdued, in light of the weak global economic environment and rising geopolitical tensions that undermined global trade.\u003C/p>\r\n\u003Cp>In a filing with Bursa Malaysia, the company said the expected better demand from China will help to alleviate some of the global demand slow down.\u003C/p>\r\n\u003Cp>“Our new fatty acid and soap noodle plants will also help to lower our production cost and give us the flexibility to tailor our products to meet customer requirements.” For its fourth quarter ended June 30, 2023, IOI Corp’s net profit dropped to RM37.2mil from RM541.8mil in the previous corresponding period, while revenue in the fourth quarter was lower at RM1.95bil against RM3.74bil in the previous corresponding period.\u003C/p>\r\n\u003Cp>Basic earnings per share stood at 0.60 sen versus 8.72 sen previously.\u003C/p>\r\n\u003Cp>IOI Corp said the lower earnings were due to lower contributions from all segments.\u003C/p>\r\n\u003Cp>For the financial year ended June 30, 2023 (FY23), IOI Corp’s net profit dipped to RM1.1bil from RM1.7bil previously, while revenue slipped to RM11.58bil from RM15.58bil a year earlier.\u003C/p>\r\n\u003Cp>IOI Corp said crude palm oil (CPO) price has been volatile since May 2023, ranging from RM3,300 to RM4,100 per tonne.\u003C/p>\r\n\u003Cp>“We foresee CPO price to remain range-bound between RM3,500 to RM4,000 per tonne until the end of the year, before moving higher as a result of lower palm fruits production due to the effects of El Nino phenomenon, which is expected to intensify in the coming months.”\u003C/p>\r\n\u003Cp>For its plantation segment, IOI Corp forecasts a moderate increase in fresh fruit bunches production for FY24, notwithstanding the adverse effects of the abovementioned El Nino phenomenon and the ongoing accelerated replanting programme in Sabah.\u003C/p>\r\n\u003Cp>“The growth would be achieved primarily through increased efficiency from our fully replenished new workers in Peninsular Malaysia and higher production from the young palm trees in our Indonesian plantations.\u003C/p>\r\n\u003Cp>“At the same time, production cost is expected to be considerably lower due to the higher palm fruits yield and decline in fertiliser as well as diesel costs compared to FY23.” All things considered, IOI Corp said it is optimistic of a satisfactory financial performance for the plantation segment in FY24.\u003C/p>\r\n\u003Cp>Regarding its refinery and commodity marketing sub-segment, IOI Corp said it expects the division to continue to face low or negative refining margins, due to stiff competition from Indonesian refiners who benefit from their country’s CPO export duty policy.\u003C/p>",{"id":1002,"name":1003},[1194],{"id":14,"name":15},{"name":1196,"file_name":1196,"url":1197},"resized011.jpg","https://www.ioigroup.com/storage/688/resized011.jpg",[],{"meta_title":1189,"meta_description":1200,"meta_keywords":28},"(File pic by IOI Corporation) PETALING JAYA: IOI Corp Bhd expects the outlook for its oleochemical sub-segment to remain subdued, in light of the weak...",{"id":1202,"title":1203,"date":1204,"body":1205,"source":1206,"type":1209,"image":1211,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1215,"created_at":1216,"content_type":24,"related_news":1217,"metatag":1218},862,"IOI Corporation Berhad and PETRONAS Win 2023 ASEAN Enterprise Innovation Award, Showcasing Projects that Build Internal Digital Capabilities","2023-07-06T00:00:00.000000Z","\u003Cdiv class=\"row justify-content-center ioi-row\">\r\n\u003Cdiv class=\"col-12 col-md-6\">\r\n\u003Cfigure class=\"image\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/AIBP Award_2.jpg\" width=\"1200\" height=\"900\" class=\"img-fluid\" alt=\"\" />\r\n\u003Cfigcaption>IOI Group Chief Financial Officer Mr Kong Kian Beng (middle) receiving the award from one of the panel judges, CyberSecurity Malaysia Chief Executive Officer Dato' Ts. Dr Haji Amirudin Abdul Wahab (second from left), witnessed by MIGHT President and CEO Datuk Dr Mohd Yusoff Sulaiman (second from right) and IOI Head of Business Systems and IT Mr Alvin Lee (right). (File pic by IOI Corporation).\u003C/figcaption>\r\n\u003C/figure>\r\n\u003C/div>\r\n\u003C/div>\r\n\u003Cp>\u003C/p>\r\n\u003Cp>\u003Cspan class=\"legendSpanClass\">\u003Cspan class=\"xn-location\">SINGAPORE\u003C/span>\u003C/span>\u003Cspan>, \u003C/span>\u003Cspan class=\"legendSpanClass\">\u003Cspan class=\"xn-chron\">July 6, 2023\u003C/span>\u003C/span>\u003Cspan> /PRNewswire/ -- 124 submissions from public and private organisations throughout \u003C/span>\u003Cspan class=\"xn-location\">Southeast Asia\u003C/span>\u003Cspan> were received for the annual ASEAN Innovation Business Platform (AIBP) Enterprise Innovation Awards - out of which 47 projects were selected as finalists. Since 2017, the awards aim to give recognition to Southeast Asian based organisations which have embarked on projects to digitally transform their business through the adoption of innovative technology.\u003C/span>\u003C/p>\r\n\u003Cp>Unsurprisingly, almost a third of the submissions involve some aspect of artificial intelligence (AI) or machine learning (ML). Many organisations in\u003Cspan> \u003C/span>\u003Cspan class=\"xn-location\">Southeast Asia\u003C/span>, especially consumer facing businesses, have been exploring the use of AI/ML and the recent rise of generative AI has opened up a range of questions around the utility of this technology.\u003C/p>\r\n\u003Cp>IOI Corporation Berhad and Petroliam Nasional Berhad (PETRONAS) emerged as the winners from\u003Cspan> \u003C/span>\u003Cspan class=\"xn-location\">Malaysia\u003C/span>\u003Cspan> \u003C/span>and received their awards at the AIBP Conference and Exhibition, held on 4 -\u003Cspan> \u003C/span>\u003Cspan class=\"xn-chron\">5 July 2023\u003C/span>, at the InterContinental Kuala Lumpur.\u003C/p>\r\n\u003Cp>Endorsed and supported by the Ministry of Science, Technology & Innovation (MOSTI), the Ministry of Communications and Digital (KKD), the Ministry of Investment, Trade, and Industry, CyberSecurity Malaysia (CSM), and the Malaysian Industry-Government Group for High Technology (MIGHT), the event spotlighted\u003Cspan> \u003C/span>\u003Cspan class=\"xn-location\">Malaysia's\u003C/span>\u003Cspan> \u003C/span>Industry4WRD initiatives while addressing the challenges faced by local enterprises and public service organisations in adopting digital transformation.\u003C/p>\r\n\u003Cp>IOI Corporation Berhad's winning project highlighted numerous technological innovations in both upstream and downstream operations. Notably, the company achieved success with the implementation of the \"ONE IOI Integrated Platform\" and the digitalisation of its production plants. By equipping these plants with IoT sensors and integrating them with artificial intelligence analytics, IOI has gained the ability to leverage valuable insights and optimise its operations further. These various implementations have played a pivotal role in streamlining business operations, enhancing cost efficiency, and boosting palm oil production, thereby benefiting the wider supply chain ecosystem. Founded in 1969, IOI Corporation Berhad has become a key player in the industry, employing approximately 24,000 people and boasting a market capitalization of over\u003Cspan> \u003C/span>\u003Cspan class=\"xn-money\">US$5 billion\u003C/span>\u003Cspan> \u003C/span>(\u003Cspan class=\"xn-money\">MYR 23.4 billion\u003C/span>).\u003C/p>\r\n\u003Cp>Meanwhile, the other winning project from Petroliam Nasional Berhad (PETRONAS) demonstrated the organisation's commitment to data-driven intelligence for informed decision-making and operational efficiency. At the core of their strategic initiatives lies the innovative Enterprise Data Hub (EDH), a dual-cloud data liberalisation and enterprise analytics platform, functioning as a data factory for analytics across diverse domains and business entities. The EDH ecosystem's transformative Data as a Service offering facilitates seamless access to valuable data insights, further enhancing decision-making and operational effectiveness. PETRONAS, with close to 50,000 employees and a global reach spanning over 100 countries, continues to solidify its position as a leading player in the energy sector. PETRONAS was ranked at 216 in the Fortune Global 500 list for 2022.\u003C/p>\r\n\u003Cp>\u003Ci>\"This year finalists had many interesting projects with clear articulation of how technology can solve business problems. Congratulations to the winners and I encourage all Malaysian enterprises to look at what Petronas and IOI did in creating new business models, and drive sustainable growth.\" said Datuk Dr.\u003Cspan> \u003C/span>\u003Cspan class=\"xn-person\">Mohd Yusoff Sulaiman\u003C/span>, President and CEO, Malaysian Industry Government Group for High Technology, Advisory Board Member and a judge for the awards.\u003C/i>\u003C/p>\r\n\u003Cp>IOI and PETRONAS join other winners from the region which include Metro Pacific Investment Corporation, Megaworld Corporation, Vietnam Prosperity Joint Stock Commercial Bank, Vietnam Posts and Telecommunications Group, Sampoerna, Bank Mandiri, Kasikorn Business Technology Group and PTT Global Chemical Public Company.\u003C/p>\r\n\u003Cp>\u003Cb>\u003Ci>About ASEAN Innovation Business Platform (AIBP)\u003C/i>\u003C/b>\u003C/p>\r\n\u003Cp>\u003Ci>AIBP serves as an avenue for public and private organisations in\u003Cspan> \u003C/span>\u003Cspan class=\"xn-location\">Southeast Asia\u003C/span>\u003Cspan> \u003C/span>to access information about enterprise growth and innovation. With a current network of over 30,000 stakeholders in\u003Cspan> \u003C/span>\u003Cspan class=\"xn-location\">Southeast Asia\u003C/span>, AIBP continues to develop ecosystems by engaging in activities which create value-adding information for our stakeholders seeking to make transformative impacts within their organisations. For additional information about AIBP, please visit\u003Cspan> \u003C/span>\u003Ca href=\"https://www.aibp.sg/\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:www.aibp.sg;elm:context_link;itc:0\" class=\"link \" data-rapid_p=\"18\" data-v9y=\"1\">www.aibp.sg\u003C/a> \u003C/i>\u003C/p>",{"id":1207,"name":1208},93,"Yahoo! Finance",[1210],{"id":14,"name":15},{"name":1212,"file_name":1213,"url":1214},"AIBP Award_2.jpg","wP0oUIfaHZ5zLnTiFqA3QKrEfXmSUgwZkhzUCUdx.jpg","https://www.ioigroup.com/storage/951/wP0oUIfaHZ5zLnTiFqA3QKrEfXmSUgwZkhzUCUdx.jpg","2025-05-04T07:50:29.000000Z","2025-05-02T09:53:43.000000Z",[],{"meta_title":1203,"meta_description":1219,"meta_keywords":28},"IOI Group Chief Financial Officer Mr Kong Kian Beng (middle) receiving the award from one of the panel judges, CyberSecurity Malaysia Chief Executive...",{"id":1221,"title":1222,"date":1223,"body":1224,"source":1225,"type":1226,"image":1228,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1232,"created_at":1216,"content_type":24,"related_news":1233,"metatag":1234},861,"IOI Corp On Track Towards Sustainability Initiative","2023-06-16T00:00:00.000000Z","\u003Cfigure class=\"image\">\u003Cimg class=\"img-fluid\" style=\"aspect-ratio:1200/800;\" src=\"https://www.ioigroup.com/Files/news/image/IOI Corp On Track Towards Sustainability Initiative.jpg\" alt=\"\" width=\"1200\" height=\"800\">\u003Cfigcaption>\u003Ci>RHB Research expects Palm Wood to have a lower cost base, since the biggest raw material cost is for a waste product which can be sourced directly from its own estates. (File pic by IOI Corporation)\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp style=\"text-align:center;\"> \u003C/p>\u003Cp>PETALING JAYA: IOI Corp Bhd’s Gomali estate mill and Palm Wood plant in Johor is not expected to contribute significantly to the group earnings in the initial years.\u003C/p>\u003Cp>However, it is anticipated to boost the group’s sustainability credentials.\u003C/p>\u003Cp>The level of mechanisation at the estate and versatility and broad range of use of Palm Wood products could help customers boost their environmental, social and governance credentials.\u003C/p>\u003Cp>RHB Research visited the plant recently and said it was excited at the prospects of the Palm Wood venture, given its sustainability qualifications.\u003C/p>\u003Cp>The research house expects Palm Wood to have a lower cost base, since the biggest raw material cost is for a waste product which can be sourced directly from its own estates.\u003C/p>\u003Cp>IOI has yet to set the pricing for its products but similar blockboard products from low-density timber species are currently selling at US$300-US$350 (RM1,389-RM1,621) per cubic metre.\u003C/p>\u003Cp>It would take some time for IOI to build a clientbase and ramp up production, as these are new products which need to be tested by customers first.\u003C/p>\u003Cp>This is why RHB Research does not expect this venture to contribute to earnings significantly in the initial years.\u003C/p>\u003Cp>IOI is still one of its sector top picks, given its integrated business model, decent valuations and commitment to sustainability.\u003C/p>\u003Cp>It maintains its “buy’’ call on the stock with a target price of RM4.35 a share.\u003C/p>\u003Cp>IOI’s Gomali estate in Johor has 2,171 ha of planted oil palm land, while the Gomali mill has a capacity of 120 tonnes per hour.\u003C/p>\u003Cp>Within the mill complex, there is also a biogas plant and effluent treatment plant (where methane gas is captured from palm oil mill effluent to generate electricity).\u003C/p>\u003Cp>There is abundant fruit on the trees and management noted that there has been enough rainfall so production should spike up in the next six months.\u003C/p>\u003Cp>IOI’s efforts at mechanisation with machines includes battery-operated cutters, which provides manpower savings of up to 20%, electric mechanical carts that are used for infield collection.\u003C/p>\u003Cp>It also includes tractor grabber mainline and hooklifts which are used in mainline fresh fruit bunch (FFB) evacuation.\u003C/p>\u003Cp>IOI has also digitised the grading of its FFB via an electronic plantation monitoring system in a handheld device.\u003C/p>\u003Cp>On IOI’s Palm Wood facility in Segamat, it is the first in Malaysia and is an 80%- owned subsidiary\u003Csup>1\u003C/sup>.\u003C/p>\u003Cp>At the plant, the old palm oil trunks are converted into Palm Wood panels which are lightweight, fire retardant and a good insulator.\u003C/p>\u003Cp>It can be used in the building, furniture and joinery industries. This RM160mil plant was built in 13 months\u003C/p>\u003Cp>It is now 90% to 95% ready and will start commercial operations tentatively July 2023\u003Csup>2\u003C/sup>.\u003C/p>\u003Cp>\u003Cspan class=\"text-small\">\u003Ci>Clarification:\u003C/i>\u003C/span>\u003Cbr>\u003Cspan class=\"text-small\">\u003Ci>\u003Csup>1\u003C/sup> Previously stated as ‘joint venture’.\u003C/i>\u003C/span>\u003Cbr>\u003Cspan class=\"text-small\">\u003Ci>\u003Csup>2\u003C/sup> Previously stated as ‘on July 1’\u003C/i>\u003C/span>\u003C/p>",{"id":10,"name":11},[1227],{"id":14,"name":15},{"name":1229,"file_name":1230,"url":1231},"IOI Corp On Track Towards Sustainability Initiative.jpg","yCtiy78fR6tCIWzblUniA6z0LVut3IxG3pEBgR5V.jpg","https://www.ioigroup.com/storage/952/yCtiy78fR6tCIWzblUniA6z0LVut3IxG3pEBgR5V.jpg","2025-07-01T03:25:34.000000Z",[],{"meta_title":1222,"meta_description":1235,"meta_keywords":28},"RHB Research expects Palm Wood to have a lower cost base, since the biggest raw material cost is for a waste product which can be sourced directly fro...",{"id":1237,"title":1238,"date":1239,"body":1240,"source":1241,"type":1242,"image":1244,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1246,"created_at":1247,"content_type":24,"related_news":1248,"metatag":1249},860,"Palm Oil Production Seen Surging in Malaysia as Workers Return, Says IOI Corp Plantations Director","2023-06-02T00:00:00.000000Z","\u003Cfigure class=\"image image_resized\" style=\"width:100%;\">\u003Cimg style=\"aspect-ratio:1600/1066;text-align:center;\" src=\"https://www.ioigroup.com/Files/news/image/palm-oil-production-seen-surging-in-malaysia.jpeg\" alt=\"\" width=\"1600\" height=\"1066\">\u003Cfigcaption>\u003Ci>(File pic by IOI Corporation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp> \u003C/p>\u003Cp>(June 2): Palm oil supply in Malaysia is set to soar as a labour crunch eases in the world’s second-biggest producer, paving the way for a bumper crop in the second half of the year, said a senior plantation executive.\u003Cbr>\u003Cbr>The return of foreign workers to plantations has accelerated harvesting, while better oil extraction rates are improving crude palm oil production, said IOI Corp plantations director Sudhakaran Nottath Bhaskaran. Good rainfall over the past two years is also boosting the formation of fresh fruit bunches, he said during a field visit to an IOI estate in Johor.\u003Cbr>\u003Cbr>“Palm oil production is going to pick up speed from now onward until it reaches a peak around August to September,” Sudhakaran said. “Crops are rapidly going up and we expect a very strong peak this year.”\u003Cbr>\u003Cbr>Malaysia produces more than 20% of the world’s palm oil — used in consumer goods ranging from foods to cosmetics — but has struggled to bring back the overseas workers it normally relies on despite easing Covid movement curbs. The brighter outlook for production has helped put pressure on prices, which are trading around a 30-month low after soaring to a record last year.\u003Cbr>\u003Cbr>Output in Peninsular Malaysia and Sabah, which together make up almost 80% of the country’s total supply, may jump at least 25% in the second half of the year compared with the same period in 2022, Sudhakaran said. The rapid increase in yields is already evident, with total Malaysian production expected to climb by around 18% in May from a month earlier, he said.\u003Cbr>\u003Cbr>The return of overseas workers is a welcome relief for the nation’s palm oil plantation companies after the chronic labour shortages meant estates lost an estimated RM20 billion last year.\u003Cbr>\u003Cbr>IOI is Malaysia’s second-biggest palm oil planter with 96 estates located across the northern Borneo region of Sabah and in Peninsular Malaysia. The company now has an adequate number of workers on the plantations, which has allowed it to improve harvesting rounds to once every 10 to 15 days, compared with about 45 to 60 days last year, Sudhakaran said.\u003Cbr>\u003Cbr>Although the industry remains wary over an El Niño later this year, the weather event is likely to be experienced only from September-October onward, with a minimal immediate impact on production, Sudhakaran said. Depending on the severity of the drought, any effect on palm yields may only be seen in six to nine months’ time, and again in 20 to 22 months, he added.\u003C/p>",{"id":109,"name":110},[1243],{"id":14,"name":15},{"name":1165,"file_name":1165,"url":1245},"https://www.ioigroup.com/storage/687/palm_oil_production_seen_surging_in_malaysia.jpeg","2025-07-01T03:22:23.000000Z","2025-05-02T09:53:42.000000Z",[],{"meta_title":1238,"meta_description":1250,"meta_keywords":28},"(File pic by IOI Corporation). (June 2): Palm oil supply in Malaysia is set to soar as a labour crunch eases in the world’s second-biggest producer, p...",{"id":1252,"title":1253,"date":1254,"body":1255,"source":1256,"type":1257,"image":1259,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1262,"created_at":1263,"content_type":24,"related_news":1264,"metatag":1265},859,"IOI Corp Expects Operating Environment to Remain Challenging","2023-05-30T00:00:00.000000Z","\u003Cfigure class=\"image image_resized\" style=\"width:100%;\">\u003Cimg class=\"image_resized\" style=\"aspect-ratio:1280/853;text-align:center;\" src=\"https://www.ioigroup.com/Files/news/image/IOI-Corp-Expects-Operating-Environment-to-Remain-Challenging.jpg\" alt=\"\" width=\"1280\" height=\"853\">\u003Cfigcaption>\u003Ci>(File pic by IOI Corporation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp> \u003C/p>\u003Cp>PETALING JAYA: IOI Corp Bhd expects the foreign exchange (forex) rate to remain volatile during the next three months and anticipates the risk of it strengthening further to be lower, in light of the potential pause in the increase of US treasury rates.\u003Cbr>\u003Cbr>In a filing with Bursa Malaysia, the group said the dollar-ringgit exchange rate that affects the forex translation gain/ loss arising from its US dollar-denominated borrowings, had strengthened to around 4.60 level in May.\u003Cbr>\u003Cbr>“Overall, we expect the operating environment to be challenging,” it said, adding that it anticipates its financial performance to be flat with downside bias during the fourth quarter of its current fiscal year.\u003Cbr>\u003Cbr>For its third quarter ended March 31, 2023, IOI Corp’s net profit stood at RM197.40mil compared with RM411.20mil in the previous corresponding period, while revenue was lower at RM2.66bil compared with RM4.10bil a year earlier.\u003Cbr>\u003Cbr>Basic earnings per share stood at 3.18 sen versus 6.62 sen previously.\u003Cbr>\u003Cbr>IOI Corp said earnings performance during the quarter was due mainly to lower contribution from its plantation segment, mitigated by higher contribution from its resourced-based manufacturing segment.\u003Cbr>\u003Cbr>For the nine-months period ended March 31, 2023, IOI Corp’s net profit stood at RM1.08bil against RM1.18bil in the previous corresponding period, while revenue dipped to RM9.63bil against RM11.84bil a year earlier.\u003Cbr>\u003Cbr>IOI Corp said crude palm oil (CPO) spot price dropped significantly in the month of May to around RM3,500 - RM3,700, due to the expected seasonal increase in palm fruits production as well as the larger than expected soybean harvest.\u003Cbr>\u003Cbr>It added that Malaysian palm oil stock declined further at the end April to the lowest in 13 months.\u003Cbr>\u003Cbr>“During the next three months, CPO price is expected to stay around this level, before the looming El Nino phenomenon affects palm fruit production probably in the fourth quarter of this year.\u003Cbr>\u003Cbr>“For our plantation segment, we expect palm fruit production to increase in line with the seasonal trend, but this positive factor will be offset by lower CPO prices.”\u003Cbr>\u003Cbr>As for its refinery and commodity marketing sub-segment, IOI Corp said refining and fractionation margins have been squeezed at a negative level.\u003Cbr>\u003Cbr>It said this was due to the high CPO export duty in Indonesia, as well as the near price parity of palm oil against soyabean oil in major destination markets.\u003Cbr>\u003Cbr>“The performance of our oleochemical sub-segment is largely dependent on the global economic and trade growth.”\u003Cbr>\u003Cbr>With the downbeat economic outlook in the US and most European countries and geopolitical tensions between US and China, coupled with the substantial spike in Malaysia’s electricity cost for large manufacturers, IOI Corp said its oleochemical sub-segment’s performance is expected to decline in the fourth quarter of the current financial year.\u003Cbr>\u003Cbr>This, the group said, is despite moderate raw material prices and China’s economy growing healthily this year.\u003C/p>",{"id":10,"name":11},[1258],{"id":14,"name":15},{"name":1260,"file_name":1260,"url":1261},"ioi_corp_expects_operating_environment_to_remain_challenging.jpg","https://www.ioigroup.com/storage/686/ioi_corp_expects_operating_environment_to_remain_challenging.jpg","2025-07-01T03:20:34.000000Z","2025-05-02T09:53:41.000000Z",[],{"meta_title":1253,"meta_description":1266,"meta_keywords":28},"(File pic by IOI Corporation). PETALING JAYA: IOI Corp Bhd expects the foreign exchange (forex) rate to remain volatile during the next three months a...",{"id":1268,"title":1269,"date":1270,"body":1271,"source":1272,"type":1275,"image":1277,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1279,"created_at":1280,"content_type":24,"related_news":1281,"metatag":1282},857,"IOI Corp Sees 44% Rise in 2Q Net Profit, Declares Six Sen Dividend","2023-02-28T00:00:00.000000Z","\u003Cfigure class=\"image image_resized\" style=\"width:100%;\">\u003Cimg class=\"image_resized\" style=\"aspect-ratio:864/592;text-align:center;\" src=\"https://www.ioigroup.com/Files/News/image/Stock2(4).jpg\" alt=\"\" width=\"864\" height=\"592\">\u003Cfigcaption>\u003Ci>(File pic by IOI Corporation).\u003C/i>\u003C/figcaption>\u003C/figure>\u003Cp> \u003C/p>\u003Cp>KUALA LUMPUR (Feb 28): IOI Corp Bhd's net profit rose 43.95% to RM712.1 million for the second quarter ended Dec 31, 2022 (2QFY2023), from RM494.7 million a year earlier, boosted by higher earnings contribution from its resource-based manufacturing segment. Earnings per share rose to 11.47 sen from 7.95 sen.\u003C/p>\u003Cp>The resource-based manufacturing segment's profit more than trebled to RM464.3 million from RM152.8 million in 2QFY2022, thanks mainly to a higher contribution from the refining sub-segment with improvement in margins, said the group in a Bursa Malaysia filing.\u003Cbr>IOI Corp also recognised a higher foreign currency translation gain on borrowings of RM122.4 million from RM29 million previously.\u003C/p>\u003Cp>The group declared a first interim dividend of six sen per share, payable on March 24.\u003Cbr>Quarterly revenue, however, declined 19.66% to RM3.3 billion, from RM4.11 billion in 2QFY2022 on lower contribution from the plantation segment due to higher cost of production, lower crude palm oil and palm kernel prices, and decrease in share of associate results.\u003Cbr>For the first six months of FY2023, IOI Corp’s net profit rose 13.89% to RM879.6 million, from RM772.3 million in the previous corresponding period, although revenue decreased 9.97% to RM6.97 billion from RM7.74 billion.\u003C/p>\u003Cp>Looking ahead, IOI Corp expects fresh fruit bunch production in its plantation segment to increase in FY2023 with the improved labour conditions, mechanisation effort as well as higher crop trend from younger palms.\u003C/p>\u003Cp>“For our refinery and commodity marketing sub-segment, refining and fractionation margins have turned negative in recent months. We expect margins to improve with the suspension of export permits by the Indonesian government,” the group said.\u003C/p>\u003Cp>Meanwhile, IOI Corp said the operating condition for the oleochemical sub-segment continues to be challenging with persistent inflationary pressure coupled with the slowdown in global demand, which is mitigated by the improved uptake from China with the easing of its zero-Covid policy.\u003C/p>\u003Cp>“For the specialty fats sub-segment comprising our associate company, Bunge Loders Croklaan, satisfactory performance is expected for the remaining period of FY2023 with good performance from [the] North American region and improved performance from Asia Pacific region. The group continues to benefit from its innovative product offerings and the synergies with Bunge’s other product offerings.\u003C/p>\u003Cp>“The US dollar-ringgit exchange rate which affects the foreign exchange translation gain/loss arising from our USD-denominated borrowings is expected to remain volatile for the remaining period of FY2023,” it added.\u003C/p>\u003Cp>IOI Corp's share price closed 1.06% higher at RM3.83 on Tuesday (Feb 28), valuing the group at RM24.07 billion.\u003C/p>",{"id":1273,"name":1274},54,"The Edge Markets",[1276],{"id":14,"name":15},{"name":1069,"file_name":1069,"url":1278},"https://www.ioigroup.com/storage/684/stock24.jpg","2025-07-01T03:15:13.000000Z","2025-05-02T09:53:40.000000Z",[],{"meta_title":1269,"meta_description":1283,"meta_keywords":28},"(File pic by IOI Corporation). KUALA LUMPUR (Feb 28): IOI Corp Bhd's net profit rose 43.95% to RM712.1 million for the second quarter ended Dec 31, 20...",{"id":1285,"title":1286,"date":1270,"body":1287,"source":1288,"type":1289,"image":1291,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1263,"created_at":1263,"content_type":24,"related_news":1294,"metatag":1295},858,"IOI Group’s Withdrawal as a Member of the High Carbon Stock Approach (HCSA)","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/IOI%20Group(37).jpg\" alt=\"\" />\u003C/div>\u003C/div>\u003C/div>\r\n\r\n\u003Cp>On 27 December, 2022, IOI Corporation (IOI) informed The High Carbon Stock Approach (HCSA) Secretariat about our decision to withdraw from the HCSA membership with immediate effect.\u003Cbr />\u003Cbr />\r\n\r\nAs a company that had played a pivotal role in the convergence of the HCSA and HCS+, IOI have been adopting the policy of “No Deforestation, No New Planting on Peat, No Social Exploitation” (NDPE) in all our operations and supply chains, as stated in our Sustainable Palm Oil Policy (SPOP) since 2016. We are fully committed towards HCSA’s overall objectives and its toolkit and have spent countless hours for and representing HCSA in various working groups and task forces.\u003Cbr />\u003Cbr />\r\n\r\nHowever, as we have completed all our new land developments, we are pivoting our focus towards climate change action and aiming to achieve our net zero target by 2040. This will take considerable human capacity and resources and render us unable to continue to devote time and resources towards being a member of HCSA.\u003Cbr />\u003Cbr />\r\n\r\nIn pursuing our Climate Change Action (CCA) Initiative, we have introduced several initiatives. Our adoption of 7Rs (Rethink, Repurpose, Reduce, Reuse, Recycle, Repair and Recover) of circularity is to ensure better waste management and resource utilisation in all our operations. We have installed methane captures and biogas power plants in our oil palm mills that not only remove greenhouse gas emissions but also reduce usage of fossil fuels. In the future, we are planning to reforest buffer and riparian areas with the aim of increasing carbon sequestration and enriching biodiversity within our plantations. \u003Cbr />\u003Cbr />\r\n\r\nIn closing, we would like to thank the HCSA secretariat and its members for the assistance, support and cooperation given to us during our 5+ years as a member of HCSA. We have benefited greatly from the work done by the HCSA and remain committed towards its admirable objectives.\u003Cbr />\u003Cbr />\r\n\r\n    \r\n\u003C/p>",{"id":1002,"name":1003},[1290],{"id":14,"name":15},{"name":1292,"file_name":1292,"url":1293},"ioi_group37.jpg","https://www.ioigroup.com/storage/685/ioi_group37.jpg",[],{"meta_title":1286,"meta_description":1296,"meta_keywords":28},"On 27 December, 2022, IOI Corporation (IOI) informed The High Carbon Stock Approach (HCSA) Secretariat about our decision to withdraw from the HCSA me...",{"id":1298,"title":1299,"date":1300,"body":1301,"source":1302,"type":1303,"image":1305,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1309,"created_at":1280,"content_type":24,"related_news":1310,"metatag":1311},856,"ESG Adoption Provides IOI Corp With Competitive Advantage","2022-12-12T00:00:00.000000Z","\u003Cimg src=\"\" alt=\"\" />\r\n\r\n\r\n\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/esg%20gold%20logo_jpg(2).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003C/div>\u003C/div>\r\n\r\n\u003Cp>IOI Corp Bhd, one of the world’s largest integrated palm oil producers, bagged the gold award under the plantation category at The Edge Malaysia ESG Awards 2022.\u003Cbr />\r\n\u003Cbr />\r\nDatuk Lee Yeow Chor, its group managing director and chief executive, attributes the win to the company’s early focus on environmental, social and governance (ESG) issues 16 years ago. For instance, the company joined the Roundtable on Sustainable Palm Oil (RSPO) in 2006 when some of its peers had not done so.\u003Cbr />\r\n\u003Cbr />    \r\nThe successful alignment of IOI’s vision and that of its 24,000 strong workforce operating in a geographical area about three times the size of Singapore is another factor, he says. But it is also the main challenge the firm faces.\u003C/p>\u003Cbr />\r\n\r\n\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/IOI%20(1361)_square.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>A lot of effort has been put into the welfare of our plantation workers in Sabah \u003C/em>\u003Cem style=\"font-size: 10pt;\">by providing them with good housing, medical care, and community facilities. \u003C/em>\u003Cem style=\"font-size: 10pt;\">With about 3,000 students, we are the largest provider of plantation-based \u003C/em>\u003Cem style=\"font-size: 10pt;\">education to the children of our plantation employees. - \u003C/em>\u003Cem style=\"font-size: 10pt;\">IOI Corporation Berhad, \u003C/em>\u003Cem style=\"font-size: 10pt;\">Group Managing Director and Chief Executive, \u003C/em>\u003Cem style=\"font-size: 10pt;\">Dato' Lee Yeow Chor\u003C/em>\u003C/div>\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\r\n\u003Cbr />\r\n\r\n“Ensuring everyone understands the ESG policies and procedures is a big challenge. To overcome this, we have to align our ESG or sustainability policies with the company’s vision, mission and core values. Over time, we have inculcated everybody within the company with them,” says Lee.\r\n\u003Cbr />\r\n\u003Cbr />\r\n“We have made them realise that ESG is the collective responsibility of everyone, and not just the responsibility of a few people at the top or the dedicated sustainability team in the company.”\r\n\u003Cbr />\r\n\u003Cbr />\r\nLee believes that the adoption of good ESG practices gives IOI a competitive advantage in selling its palm oil to multinational customers and selected markets.\r\n\u003Cbr />\r\n\u003Cbr />\r\nHe adds that the company has been focusing on more social and governance issues recently. In the last few years, it has introduced policies on women empowerment, anti-sexual harassment, zero recruitment fees when hiring foreign labour and more.\r\n\u003Cbr />\r\n\u003Cbr />\r\n“A lot of effort has been put into the welfare of our plantation workers in Sabah by providing them with good housing, medical care and community facilities. With about 3,000 students, we are the largest provider of plantation-based education to the children of our plantation employees.”\r\n\u003Cbr />\r\n\u003Cbr />\r\nLast June, IOI was accused by human rights group Finnwatch of mistreating its workers, who face poor living conditions and pay high recruitment fees. The US Customs and Border Protection (CBP) was said to be investigating the firm over allegations of forced labour.\r\n\u003Cbr />\r\n\u003Cbr />\r\nIn response to Finnwatch’s allegations, Lee says IOI has introduced an enterprise resource planning (ERP) system to track the working hours of its workers and implemented an e-wallet crediting system in its plantation operating units to simplify its estate workers’ payroll system.\r\n\u003Cbr />\r\n\u003Cbr />\r\nThe company continuously monitors its workers’ living conditions through monthly inspection of their houses and other amenities and has implemented a programme to repair over 6,000 houses.\r\n\u003Cbr />\r\n\u003Cbr />\r\nOn the CBP investigation, Lee clarifies the issue was based on a “communication” in May 2021 between the CBP and an activist. However, no Withhold Release Order or findings have been issued to IOI.\r\n\u003Cbr />\r\n\u003Cbr />\r\n“Nevertheless, IOI proactively collaborated with one of our major customers to conduct an independent third-party audit based on the International Labour Organization’s 11 indicators of forced labour, as well as on our governance in June 2021. After the completion of the audit, the findings and recommended actions of improvements were shared with the CBP in December last year,” he says.\r\n\u003Cbr />\r\n\u003Cbr />\r\nOverall, Lee is happy with the support provided by the Malaysian government, market regulators and institutional investors in helping public-listed companies adopt ESG practices.\r\n\u003Cbr />\r\n\u003Cbr />\r\nHowever, he hopes that when consumers and non-governmental organisations evaluate companies on ESG matters, they also consider the socioeconomic situation of the country. They should not base it on conditions in developed nations.\r\n\u003Cbr />\r\n\u003Cbr />\r\nAchieving its net-zero goals is one of IOI’s main aims moving forward. “We recognise that climate change is a global phenomenon that is impacting the weather patterns, economic sustainability and social well-being of the global population,” says Lee.\r\n\u003Cbr />\r\n\u003Cbr />\r\n“As such, we have used science-based methodologies to calculate and reduce the greenhouse gas emissions and water usage in our operations progressively over time. This year, we launched our net zero goals with short-term (2025), mid-term (2030) and long-term (2040) milestones.”\r\n\u003Cp>\u003Cbr />\u003C/p>",{"id":1273,"name":1274},[1304],{"id":14,"name":15},{"name":1306,"file_name":1307,"url":1308},"esg gold logo_jpg(2).jpg","3Bs43kW6PeC4hq3kWq6WTv33kxgWbpAhyxtBx79o.jpg","https://www.ioigroup.com/storage/953/3Bs43kW6PeC4hq3kWq6WTv33kxgWbpAhyxtBx79o.jpg","2025-05-04T07:54:05.000000Z",[],{"meta_title":1299,"meta_description":1312,"meta_keywords":28},"IOI Corp Bhd, one of the world’s largest integrated palm oil producers, bagged the gold award under the plantation category at The Edge Malaysia ESG A...",{"id":1314,"title":1315,"date":1316,"body":1317,"source":1318,"type":1319,"image":1321,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1280,"created_at":1280,"content_type":24,"related_news":1323,"metatag":1324},855,"IOI Corp Q1 Net Profit Comes In At RM618.5mil","2022-11-30T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/cover%204.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cbr />\r\n\r\n\u003Cp>PETALING JAYA: IOI Corp Bhd got off to a strong start, with a core net profit of RM618.5mil in the first quarter of the financial year 2023 (1Q23), up 4.6% quarter-on-quarter (q-o-q) and 43.3% year-on-year.\u003Cbr />\u003Cbr />\r\n\r\nAnalysts, however, generally warned of softer quarterly earnings ahead for the group as crude palm oil (CPO) is likely to undergo further price corrections.\u003Cbr />\u003Cbr />\r\n\r\nAccording to Kenanga Research, IOI’s 1Q23 core net profit came in at 31% and 41% of its full year forecast and the full year consensus estimate, respectively.\u003Cbr />\u003Cbr />\r\n\r\n“We consider the results below expectations as a strong average CPO price of RM4,496 per tonne is unlikely to be repeated during the remaining quarters of the financial year 2023 (FY23),” the research house said in a note to clients yesterday.\u003Cbr />\u003Cbr />\r\n    \r\nWhile CPO prices have corrected sharply since 2Q22 on recovering edible oil supply, Kenanga Research said the supply and demand balance in 2023 still looks fragile.\u003Cbr />\u003Cbr />\r\n\r\nThe group’s resource-based earnings are more susceptible to slower demand arising from the prospects of global economic headwinds, while its European downstream units are enduring rising energy costs and may even encounter supply disruptions, the research house pointed out.\u003Cbr />\u003Cbr />\r\n\r\n“Therefore, despite enjoying good margins, better pricing power with lower input palm oil prices, we expect weaker q-o-q contributions ahead,” said Kenanga Research.\u003Cbr />\u003Cbr />\r\n    \r\nDespite maintaining a “market perform” call on IOI, the research house has lowered slightly the target price (TP) to RM4 from RM4.10 previously.\u003Cbr />\u003Cbr />\r\n\r\nIt noted IOI’s strong downstream operations and Europe’s current energy woes may benefit the group over time, even if there is some temporary setback to its operations there.\u003Cbr />\u003Cbr />\r\n\r\nHence, some downstream expansions outside Europe or mergers and acquisitions (M&As) cannot be ruled out.\u003Cbr />\u003Cbr />\r\n\r\nCGS-CIMB Research, meanwhile, described IOI’s 1Q23 results as broadly in line with its outlook, as “we expect weaker earnings in the second half of 2023 due largely to lower CPO prices and higher production costs.”\u003Cbr />\u003Cbr />\r\n\r\nHowever, this will be partly cushioned by the improved productivity at the group’s estates following the return of foreign workers and the delayed peak production cycle for its young palm trees, CGS-CIMB Research noted.\u003Cbr />\u003Cbr />\r\n\r\nOverall, the research house projected IOI’s FY23 core net profit to decline 27% due to lower CPO prices.\u003Cbr />\u003Cbr />\r\n\r\nCGS-CIMB Research also reiterated a “hold” call on the stock with a TP of RM4.24 as it trades close to its target price.\u003Cbr />\u003Cbr />\r\n\r\nThe key upsides are higher CPO prices and earnings-accretive M&As, while the downside risks are lower fresh fruit bunch yields and weaker downstream margins.    \r\n\u003C/p>",{"id":10,"name":11},[1320],{"id":14,"name":15},{"name":895,"file_name":895,"url":1322},"https://www.ioigroup.com/storage/683/cover_4.jpg",[],{"meta_title":1315,"meta_description":1325,"meta_keywords":28},"(File pic by IOI Corporation). PETALING JAYA: IOI Corp Bhd got off to a strong start, with a core net profit of RM618.5mil in the first quarter of the...",{"id":1327,"title":1328,"date":1329,"body":1330,"source":1331,"type":1332,"image":1334,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1337,"created_at":1337,"content_type":24,"related_news":1338,"metatag":1339},854,"IOI Corp Posts Lower Net Profit for 1QFY2023 as Plantation Earnings Fall 30%","2022-11-25T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/cover%205.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cbr />\r\n\r\n\u003Cp>KUALA LUMPUR (Nov 25): Plantation-based group IOI Corp Bhd reported a lower net profit by nearly 40% at RM167.5 million for the first quarter ended Sept 30, 2022 (1QFY2023), against RM277.6 million a year ago, in a Bursa Malaysia filing released.\u003C/p>\r\n\u003Cp>The group's revenue was nearly flat at RM3.66 billion for 1QFY2023 compared with 1QFY2022's RM3.63 billion. Earnings per share contracted to 2.7 sen in 1QFY2023 from 4.45 sen a year ago.\u003C/p>\r\n\u003Cp>IOI Corp's plantation profit for the quarter under review fell by 27.8% to RM351.8 million from RM487 million in 1QFY2022 due to lower fresh fruit bunch (FFB) production and higher cost of production, mitigated by higher crude palm oil (CPO) prices realised.\u003C/p>\r\n\r\n\u003Cp>On a quarter-on-quarter comparison, the group's revenue fell marginally by 1.87% from RM3.73 billion in the immediate preceding quarter of 4QFY2022.\r\n\u003C/p>\r\n\u003Cp>Its profit for plantation segment also came in lower by 30% against RM502.7 million in 4QFY2022, citing lower COP and palm kernel prices realised, higher cost of production and lower share of associate results from Bumitama Agri Ltd while mitigated by higher FFB production.\u003C/p>\r\n\r\n\u003Cp>However, IOI Corp's resource-based manufacturing segment fared better. The segment's profit for 1QFY2023 was higher at RM128.5 million compared with RM46.1 million a year ago. The higher profit was due mainly to higher margins from oloechemical and refining sub-segments, partly offset by lower sales volume from sub-segments.\u003C/p>\r\n\r\n\u003Cp>Its resource-based manufacturing segment profit for 1QFY2023 was lower by 56% when compared with the preceding quarter's RM292.6 million.\r\n\u003C/p>\r\n\u003Cp>"For our plantation segment, our 2QFY2023 oil palm fruits production is expected to drop only slightly, against the seasonal downward trend, as our young palm trees are entering into a delayed peak production cycle and as more migrant workers are employed in our plantations," said IOI Corp.\u003C/p>\r\n\r\n\u003Cp>With CPO prices holding firm, the group expects the financial performance of its plantation segment to be satisfactory in 2QFY2023.\u003C/p>\r\n\r\n\u003Cp>Commenting on the prospects of its refinery and commodity marketing sub-segment, the plantation giant noted that the demand for palm oil is moderate during the winter months in the Northern Hemisphere and margins are volatile due to changes in Indonesia's palm oil export levy structure.\u003C/p>\r\n\r\n\u003Cp>"Operating conditions in our oleochemical sub-segment are expected to be challenging with high energy costs and the economic slowdown in various parts of the world.\u003C/p>\r\n\r\n\u003Cp>"On the other hand, raw material price in particular palm kernel oil price has been low and there is potential upside with China announcing plans indicating a relaxation in its strict Covid policies starting from 1QFY2023," added IOI Corp.\u003C/p>\r\n\r\n\u003Cp>In relation to US dollar-denominated borrowings, IOI Corp said in the report that the highly volatile US dollar exchange rate resulted in its forex translation loss on US dollar-denominated borrowings, despite IOI Corp's borrowings having declined since June 2022.\u003C/p>\r\n\r\n\u003Cp>"Going forward, the US dollar exchange rate is expected to be elevated and volatile, in line with the monetary policy tightening stance of the US Federal Reserve.\u003C/p>\r\n\r\n\u003Cp>Overall, the financial performance of the group for the remaining periods of FY2023 is expected to be satisfactory amidst challenging operating conditions, due to the anticipated firm CPO price during the next two quarters," said IOI Corp in its quarterly report.\u003C/p>\r\n\r\n\u003Cp>At market close on Friday (Nov 25), IOI Corp's share price dropped two sen or 0.5% to RM3.98, with a market capitalisation of RM25.02 billion.\u003C/p>\u003Cbr />",{"id":1273,"name":1274},[1333],{"id":14,"name":15},{"name":1335,"file_name":1335,"url":1336},"cover_5.jpg","https://www.ioigroup.com/storage/682/cover_5.jpg","2025-05-02T09:53:39.000000Z",[],{"meta_title":1328,"meta_description":1340,"meta_keywords":28},"(File pic by IOI Corporation). KUALA LUMPUR (Nov 25): Plantation-based group IOI Corp Bhd reported a lower net profit by nearly 40% at RM167.5 million...",{"id":1342,"title":1343,"date":1344,"body":1345,"source":1346,"type":1347,"image":1349,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1337,"created_at":1337,"content_type":24,"related_news":1352,"metatag":1353},853,"Ongoing Supply Risk, Improving Demand Brightens Prospects for CPO Prices - Dato' Lee Yeow Chor","2022-10-31T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/1369square.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>IOI Corporation Berhad Group Managing Director and Chief Executive \u003C/em>\u003C/div>\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\u003Cem>Datuk Lee Yeow Chor \u003C/em>\u003C/div>\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cbr />\r\n\r\n\u003Cp>Crude palm oil (CPO) prices are expected to be continuously supported by supply constraints and its price competitiveness against other edible oils in 2023, amid unfavourable geopolitical development in Russia and Indonesia’s palm oil export-friendly policies, according to a senior executive in the sector.\r\n\u003Cbr />\r\n\u003Cbr />IOI Corp Bhd group managing director and chief executive Datuk Lee Yeow Chor said CPO producers will remain well supported at palm oil prices ranging from RM3,500-RM4,000 per tonne, even though prices are a far cry from recent peaks.\r\n\u003Cbr />\r\n\u003Cbr />“The price cycle earlier hit RM6,000-RM7,000 per tonne. Now it's RM3,500-RM4,000 per tonne in the last two months. I think at this level companies are still well supported. Indonesia is actively clearing their inventory since they changed their earlier restrictive policy to now which encourages export. The stock is not low, but at the same time it is not very high either.\u003C/p>\u003Cp>“Globally, Russia is still threatening to reinforce the embargo on oil and grain export. If they do that, it will cause shortages in the market, particularly vegetable oil. So I think these factors would result in CPO prices being well supported,” he told The Edge after the group’s annual general meeting in Putrajaya on Monday (Oct 31).\r\n\u003Cbr />\r\n\u003Cbr />Indonesia waived levies on exports of palm oil products in mid-July to reduce the high inventory it had accumulated after a three-week export ban in late April, which Jakarta had imposed in a bid to control the soaring domestic cost of cooking oil.\r\n\u003Cbr />\r\n\u003Cbr />The ban was subsequently abandoned because of market and political pressures. However, the levy waiver remains in place and is scheduled to end after Oct 31.\r\n\u003Cbr />\r\n\u003Cbr />Lee said that although Indonesia lifted the ban, the market is still very disrupted due to the tax waiver which might be extended until the end of the year. With the possible extension, Indonesia is very likely to continue to dominate the export market by offloading its CPO at a much cheaper and discounted price, and that could dampen demand for Malaysia’s exports.\r\n\u003Cbr />\r\n\u003Cbr />“This has gone on for too long already. However, both Malaysia and Indonesia have our own target market. I think now it's more pertinent to look at the stock level in terms of export. During the Deepavali festival in the September and October period, there was a single-digit palm oil export from Malaysia. Overall, the stock is at moderate level at 2.1-2.22 million tonnes of CPO,” he added, noting continued demand recovery from key exporting countries like China, India, Bangladesh and Pakistan would further support CPO prices.\r\n\u003Cbr />\r\n\u003Cbr />However, Lee said, from an industry player's perspective, the government should strive to level the playing field for Malaysian CPO exporters, so that locally produced palm oil remains competitive to its counterparts.\r\n\u003Cbr />\r\n\u003Cbr />“I always believed in levelling the playing field because all these duties and levies distort the market. But the government will impose export duties on CPO to encourage downstream activities. But to me, it should be as little tax as possible which might distort the demand situation,” said the former chairman of the Malaysian Palm Oil Council (MPOC).\r\n\u003Cbr />\r\n\u003Cbr />Malaysia's current October export tax for CPO is 8%, according to a circular on the Malaysian Palm Oil Board website.\r\n\u003Cbr />\r\n\u003Cbr />The reference price is RM4,033.51 per tonne for October which is higher than the September reference price of RM3,907.51 per tonne.\u003C/p>\u003Cp>\u003Cstrong>Unharvested fruits due to labour shortage has led to substantial losses\u003C/strong>\u003C/p>\u003Cp>Lee said the group was not fully able to optimise and achieve operational efficiencies due to severe shortage of foreign workers to work on IOI Corp’s nationwide plantations, whose total planted area is some 176,980ha.\r\n\u003Cbr />\r\n\u003Cbr />A continuing shortage of workers is a problem though. “We applied and approved for 3,000 workers. We already got 800 workers and we are hopeful the rest will come progressively. We are shouldering single-digit loss on unharvested fruits. The loss is substantial in ringgit terms,” he added.\r\n\u003Cbr />\r\n\u003Cbr />At the end of FY2022, IOI Corp expanded the deployment of mechanised mainline fresh fruit bunches (FFB) evacuation system to about 75% of total estate areas, up from 40% in the prior financial year.\r\n\u003Cbr />\r\n\u003Cbr />In FY2023, the group will continue to focus on expanding the system, utilising tractors with grabbers to load and unload FFB into bins. It will also integrate the mechanised mainline FFB evacuation system with the mechanical assisted in-field collection to assist estates for efficient crop evacuation.\u003C/p>\u003Cp>\u003Cstrong>Targets RM100 million in profit from non-CPO segment\u003C/strong>\u003C/p>\u003Cp>Lee revealed that IOI Corp is actively looking into increasing non-CPO income by converting oil palm by-products and processing waste into value-added products at a competitive cost.\r\n\u003Cbr />\r\n\u003Cbr />“There are two fronts for non-CPO. One is planting higher value crops such as coconut and durian which we are doing and [is] progressing well. But we are also looking into exploiting the by-products of palm. For example, we are exploring effluent waste from palm oil mills to generate biogas that will be converted to electricity. We use the electricity for our own palm oil mill and also the surrounding housing estates," he said.\r\n\u003Cbr />\r\n\u003Cbr />The company is also involved in the construction of a palm wood factory to convert oil palm trunks into high-performance palm wood boards and panels. The factory is targeted to be completed during the first quarter of 2023.\r\n\u003Cbr />\r\n\u003Cbr />“This is actually high-performance wood blocks and panels which can be used as building materials and furniture. We are the first to do it in a quality and skilled manner,” said Lee.\r\n\u003Cbr />\r\n\u003Cbr />Although non-CPO contribution appears dismal to its CPO revenue, Lee said it was important to diversify its revenue stream.\r\n\u003Cbr />\r\n\u003Cbr />“Our main products are still CPO. But these are more value-added by-product utilisation. Another one is empty fruit bunch fibre. That we are seriously looking into the direction of pulp and paper production. At the moment, we are already using empty FFB for steam and power generation in our refineries," he said.\r\n\u003Cbr />\r\n\u003Cbr />IOI expects to generate a profit of RM100 million from its non-CPO products annually.\u003C/p>\u003Cp>\u003Cstrong>Energy crisis in Europe could affect its German oleochemical operations\u003C/strong>\u003C/p>\u003Cp>Lee said Germany’s high dependency on Russia for natural gas supply creates a high risk of production downtime and interruption for the group's operation in Germany which supplies oleochemical specialties.\r\n\u003Cbr />\r\n\u003Cbr />Russia has cut off supplies of cheap natural gas to Germany that have powered factories and homes, in response to Western sanctions for its invasion of Ukraine.\r\n\u003Cbr />\r\n\u003Cbr />It has two production sites in Witten and Wittenberge. IOI Oleo GmbH produces and sells a broad range of oleochemical products for a large number of industrial applications.\r\n\u003Cbr />\r\n\u003Cbr />Both production sites are not equipped with any alternative source of heating or steam generation.\r\n\u003Cbr />\r\n\u003Cbr />“Natural gas production has increased by three or four times since two years ago which has increased production cost by 10%. But we can pass that on to customers.\r\n\u003Cbr />\r\n\u003Cbr />“But a more serious issue is the shortage of natural gas there. It means there is a possibility we ration our gas usage. It has not happened yet. We are reviving our diesel power generator as a backup. But that would only support us to a certain extent.\r\n\u003Cbr />\r\n\u003Cbr />“The profit contribution is over 3-4% annually to the group. We just have to deal with it and [it] is a risk we have to put up with. We don't believe this would hurt operations," he said.\r\n\u003Cbr />\r\n\u003Cbr />Witten and Wittenberge also produce active ingredients and excipients for the pharmaceutical industry, emollients, emulsifiers, texturisers, and a wide variety of multifunctional ingredients for the cosmetic industry.\r\n\u003Cbr />\r\n\u003Cbr />IOI Corp bought Cremer Oleo GmbH & Co KG's entire oleochemicals business in Germany for €89.4 million (RM420.05 million) in 2015.\r\n\u003Cbr />\r\n\u003Cbr />Shares of IOI Corp closed 0.74% to RM4.07, which translates to a market capitalisation of RM25.58 billion.\u003C/p>\u003Cp>To those who would like to review and rewatch our 53\u003Csup>rd \u003C/sup>Annual General Meeting, click \u003Ca href=\"https://www.youtube.com/watch?v=v41C8Pe0euk\" target=\"_blank\">here\u003C/a>.\u003C/p>",{"id":1273,"name":1274},[1348],{"id":14,"name":15},{"name":1350,"file_name":1350,"url":1351},"1369square.jpg","https://www.ioigroup.com/storage/681/1369square.jpg",[],{"meta_title":1343,"meta_description":1354,"meta_keywords":28},"IOI Corporation Berhad Group Managing Director and Chief Executive Datuk Lee Yeow Chor (File pic by IOI Corporation). Crude palm oil (CPO) prices are...",{"id":1356,"title":1357,"date":1358,"body":1359,"source":1360,"type":1361,"image":1363,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1366,"created_at":1366,"content_type":24,"related_news":1367,"metatag":1368},852,"IOI Corp: FY23 Financials Expected To Be Healthy 'Albeit Not As Good As' FY22 Performance","2022-09-30T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/IG%20Posting_AR%20and%20SR.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />\r\nKUALA LUMPUR (Sept 30): IOI Corp Bhd group managing director and chief executive Datuk Lee Yeow Chor said on Friday (Sept 30) the oil palm planter expects its financial performance in the current financial year ending June 30, 2023 (FY23) to be healthy "albeit not as good as" its FY22 performance as it weighs external factors including the Russia-Ukraine war and as crude palm oil (CPO) prices decline from historical high levels.\r\n\u003Cbr />\r\n\u003Cbr />"The financial performance of our plantation segment is expected to decline due to the decline in CPO price from the historically high levels during FY22 as well as the elevated cost of inputs such as fuel and fertiliser.\r\n\u003Cbr />\r\n\u003Cbr />"However, we anticipate CPO price will still be supported by supply constraints and its price competitiveness against other edible oils.\r\n\u003Cbr />\r\n\u003Cbr />"Therefore, we expect the plantation segment to perform satisfactorily in the new financial year (FY23)," Lee wrote in IOI's latest annual report, which was filed with Bursa Malaysia on Friday.\r\n\u003Cbr />\r\n\u003Cbr />Globally, Lee said the health of the global economy will largely depend on the duration of the Russia-Ukraine war.\r\n\u003Cbr />\r\n\u003Cbr />He said China’s economy is also a matter of concern as the country pursues its zero Covid-19 policy-driven movement restrictions amid a slowdown in the nation's property sector.\r\n\u003Cbr />\r\n\u003Cbr />"Malaysia’s economy will be adversely affected by these external conditions as the lower global economic growth would dampen its exports.\r\n\u003Cbr />\r\n\u003Cbr />"Nevertheless, despite the external headwinds, the domestic economy is expected to improve further following the shift to the endemic phase of Covid-19, reopening of international borders, and normalisation of economic activities," Lee said.\r\n\u003Cbr />\r\n\u003Cbr />Besides upstream oil palm plantation operations, IOI is also involved in downstream operations such as refining of CPO and palm kernel oil, and processing of refined palm oil and palm kernel oil into oleochemicals as well as specialty oils and fats products.\r\n\u003Cbr />\r\n\u003Cbr />On the oleochemical sub-segment, Lee said IOI anticipates oleochemical demand from China will be soft due to its zero-Covid-19 policy, and that oleochemical production costs will stay elevated due to high energy prices.\r\n\u003Cbr />\r\n\u003Cbr />"Nevertheless, with our new fatty acid and soap noodle plants coming on stream, our sales volume in FY23 is expected to increase by double-digit percentage albeit with margins lower than the high levels achieved in FY22.\r\n\u003Cbr />\r\n\u003Cbr />"As for our refinery sub-segment, we expect the refining and fractionation margins to be volatile and decline from the present high levels as the CPO export duty drops in tandem with the CPO price.\r\n\u003Cbr />\r\n\u003Cbr />"Notwithstanding that, demand for palm oil will still be resilient to make up for the lower sunflower oil supply which is expected to persist into the year 2023," he said.\r\n\u003Cbr />\r\n\u003Cbr />On IOI's specialty fats sub-segment which involves IOI's associate company Bunge Loders Croklaan Group BV (BLC), Lee said satisfactory performance is expected for FY23 as that sub-segment benefits from favourable demand and BLC’s supply chain capability.\r\n\u003Cbr />\r\n\u003Cbr />He, however, said the operating environment will continue to present challenges such as high energy costs and sporadic pandemic-related lockdowns in China.\r\n\u003Cbr />\r\n\u003Cbr />At Bursa on Friday, IOI's share price was unchanged at RM3.78, which brings the group's market value to about RM23.47 billion based on IOI's latest-reported number of outstanding shares at 6.21 billion.\r\n\u003Cbr />\r\n\u003Cbr />Looking back, IOI's FY22 financials had improved. The company's 4QFY22 net profit rose to RM541.8 million from RM359.4 million a year earlier, according to IOI's Bursa filing on Aug 23, 2022.\r\n\u003Cbr />\r\n\u003Cbr />For the full year, IOI said cumulative FY22 net profit climbed to RM1.73 billion or 27.74 sen a share from RM1.39 billion or 22.26 sen a share a year earlier.\r\n\u003Cbr />\r\n\u003Cbr />In commodity markets, CPO prices have fallen substantially to less than RM3,500 a tonne currently from over RM8,000 a tonne in March 2022.\r\n\u003Cbr />\r\n\u003Cbr />At Bursa on Friday, CPO price for November 2022 rose RM71 to RM3,375 a tonne as of 11.35am.\r\n\u003Cbr />\r\n\u003Cbr />Looking back, CPO prices topped RM8,000 a tonne for the first time on March 1 as consumers rushed to buy CPO amid a shortfall in sunflower oil caused by the ongoing escalation of the Russia-Ukraine war after Russia invaded Ukraine on Feb 24.\u003C/p>\u003Cp>To read more into our latest corporate results, click \u003Ca href=\"https://www.ioigroup.com/Content/IR/IR_Reports\" target=\"_blank\">here\u003C/a> to view our Annual, Sustainability and Financial Reports 2022.\u003C/p>",{"id":1273,"name":1274},[1362],{"id":14,"name":15},{"name":1364,"file_name":1364,"url":1365},"ig_posting_ar_and_sr.jpg","https://www.ioigroup.com/storage/680/ig_posting_ar_and_sr.jpg","2025-05-02T09:53:38.000000Z",[],{"meta_title":1357,"meta_description":1369,"meta_keywords":28},"(File pic by IOI Corporation). KUALA LUMPUR (Sept 30): IOI Corp Bhd group managing director and chief executive Datuk Lee Yeow Chor said on Friday (Se...",{"id":1371,"title":1372,"date":1373,"body":1374,"source":1375,"type":1376,"image":1378,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1366,"created_at":1366,"content_type":24,"related_news":1381,"metatag":1382},851,"IOI Corp Sees Weaker FY23 Ahead After Closing FY22 With A 24% Profit Rise, Declares Eight Sen Dividend","2022-08-23T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_img_9915(2).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />KUALA LUMPUR (Aug 23): IOI Corp Bhd's net profit for the fourth quarter ended June 30, 2022 (4QFY22) jumped 50.75% to RM541.8 million from RM359.4 million in the corresponding quarter last year, thanks to higher contributions from its plantation and resource-based manufacturing segments.\r\n\r\n\u003C/p>\u003Cp>As a result, earnings per share (EPS) rose to 8.72 sen from 5.74 sen, its Bursa Malaysia filing showed. Revenue grew 7.99% to RM3.74 billion from RM3.46 billion.\r\n\r\n\u003C/p>\u003Cp>IOI Corp declared a second interim dividend of eight sen per share to be paid on Sept 23, as opposed to the six sen payout made in 4QFY21. This raised total FY22 payout to 14 sen, versus FY21's 10.5 sen.\r\n\r\n\u003C/p>\u003Cp>During the quarter, profit for the plantation segment grew 22.67% to RM502.7 million from RM409.8 million in 4QFY21, mainly due to higher share of associate results from Bumitama Agri Ltd, and higher crude palm oil (CPO) and palm kernel prices.\r\n\r\n\u003C/p>\u003Cp>Profit for its resource-based manufacturing segment rose 77.33% to RM292.6 million from RM165 million on higher margins from oleochemical and refining subsegments, partly offset by the subsegments' lower sales volumes.\r\n\r\n\u003C/p>\u003Cp>For the full financial year ended June 30, 2022, IOI Corp's net profit rose 23.74% to RM1.73 billion from RM1.39 billion in FY21, as revenue climbed 38.46% to RM15.58 billion from RM11.25 billion. Full-year EPS rose to 27.74 sen from 22.26 sen.\r\n\r\n\u003C/p>\u003Cp>For FY23, the group expects its financial performance to be weaker overall than FY22's, with an anticipated decline in its plantation segment's contribution due to a drop in CPO price from the historical highs seen in FY22, and rising cost of inputs such as fuel and fertiliser.\r\n\r\n\u003C/p>\u003Cp>"As for our refinery and commodity marketing subsegment, we expect the refining and fractionation margins to be volatile and decline from the present high levels as the CPO export duty drops in tandem with the CPO price. Nevertheless, demand for palm oil will still be resilient to make up for the low sunflower oil supply, which is expected to persist into 2023," it said.\r\n\r\n\u003C/p>\u003Cp>For the oleochemical subsegment, the group anticipates China's zero-Covid policy and the ongoing Ukraine-Russia war will continue to dampen China's domestic demand and cause severe inflationary impact from food to energy.\r\n\r\n\u003C/p>\u003Cp>The performance of its specialty fats subsegment, where its associate company Bunge Loders Croklaan (BLC) is in, is expected to be satisfactory as it benefits from favourable demand and BLC's supply chain capability, although the operating environment will continue to present challenges such as high energy cost and the sporadic pandemic-related lockdowns in China.\r\n\r\n\u003C/p>\u003Cp>IOI Corp shares closed unchanged at RM4.19 on Tuesday (Aug 23), valuing it at RM26.33 billion.\u003C/p>",{"id":1273,"name":1274},[1377],{"id":14,"name":15},{"name":1379,"file_name":1379,"url":1380},"rsz_img_99152.jpg","https://www.ioigroup.com/storage/679/rsz_img_99152.jpg",[],{"meta_title":1372,"meta_description":1383,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR (Aug 23): IOI Corp Bhd's net profit for the fourth quarter ended June 30, 2022 (4QFY22) jumped 50.75% to RM...",{"id":1385,"title":1386,"date":1387,"body":1388,"source":1389,"type":1390,"image":1392,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1395,"created_at":1395,"content_type":24,"related_news":1396,"metatag":1397},850,"Fourth Bargain Basement Outlet Opens At UTAR Sungai Long Campus","2022-06-27T00:00:00.000000Z","\u003Cdiv class=\"row\">\r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n\u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width: 100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/20220627_105000.jpg\" alt=\"\" />\u003C/div>\r\n\u003Cdiv style=\"font-size: 10pt; line-height: normal; text-align: center;\">\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\r\n\u003C/div>\r\n\u003C/div>\r\n\u003Cp>\u003C/p>\r\n\u003Cp>Once Datin Joanne Wong, Executive Director of IOI Corporation Berhad’s IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), mooted the idea of selling pre-loved items via Bargain Basement, the social enterprise, launched in 2016, has donated RM526,844 to 33 charity organisations upon its opening.\u003C/p>\r\n\u003Cp>Datin Joanne proudly unveiled the fourth Bargain Basement outlet at Universiti Tunku Abdul Rahman (UTAR) Sungai Long Campus on 27 June 2022. Five months ago, the third outlet opened at UTAR Kampar Campus following the success of the first flagship store at IOI City Mall in June 2016, and the second retail shop at IOI Mall Puchong in October 2017.\u003Cbr />\u003Cbr />UTAR President Ir Professor Dr Ewe Hong Tat, proud of the collaboration between IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) and UTAR, said: “Responsible consumption is everyone’s business, and I am glad that UTAR is partaking in the Bargain Basement project to promote the United Nations’ Sustainable Development Goal 12, which is to ensure sustainable consumption and production patterns. We need to remind ourselves that we have more than what we need. I hope everyone can donate your pre-loved and unused items at home or office since these items are likely to fulfill a need in another.”\u003C/p>\r\n\u003Cp>\u003C/p>\r\n\u003Cdiv class=\"row\">\r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n\u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width: 100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/20220627_104159(0)%20(1).jpg\" alt=\"\" />\u003C/div>\r\n\u003Cdiv style=\"font-size: 10pt; line-height: normal; text-align: center;\">\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\r\n\u003C/div>\r\n\u003C/div>\r\n\u003Cp>\u003C/p>\r\n\u003Cp>The Memorandum of Agreement was signed by IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) Executive Director Datin Joanne \u003Cem>(second from right)\u003C/em>, UTAR President Ir. Professor Dr. Ewe Hong Tat \u003Cem>(second from left)\u003C/em>, Vice President (Student Development and Alumni Relations) Professor Dr. Choong Chee Keong \u003Cem>(left) \u003C/em>and IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) Senior Executive CSR cum Retail Ms Elain Teoh \u003Cem>(right)\u003C/em>. Yang Amat Berbahagia Toh Puan Ena Ling, the wife of Tun Dr Ling Liong Sik \u003Cem>(next to Datin Joanne)\u003C/em>, was also present to grace the occasion and witness the signing ceremony. Thereafter, a lion dance performance was held by UTAR’s students from the Wushu Club to officiate the opening. Bargain Basement marked its first sale to Toh Puan Ena Ling, who bought two reusable food bags.\u003C/p>\r\n\u003Cp>Bargain Basement not only provides a platform for the UTAR students to declutter their homes and contribute their used and unused items to benefit others, but also allows them to gain hands-on experience from planning and sourcing for items, to promoting and operating the outlet. From books to clothes to jewelleries to household items, there are various items that are in good condition and also reasonably priced.\u003Cbr />\u003Cbr />Strategically located at UTAR Sungai Long Campus’ Sub-Basement along Persiaran Sungai Long 1 and Jalan Sungai Long 1/2, the outlet is ideally positioned across a row of restaurants and shophouses as well as the night market, which takes place every Tuesday. It is operated under the care of the UTAR students of the Department of Student Affairs, and will be opened every week on Monday, Wednesday and Friday, from 11 am to 2 pm.\u003Cbr /> \u003C/p>",{"id":1002,"name":1003},[1391],{"id":241,"name":564},{"name":1393,"file_name":1393,"url":1394},"20220627_105000.jpg","https://www.ioigroup.com/storage/678/20220627_105000.jpg","2025-05-02T09:53:37.000000Z",[],{"meta_title":1386,"meta_description":1398,"meta_keywords":28},"(File pic by IOI Corporation). Once Datin Joanne Wong, Executive Director of IOI Corporation Berhad’s IOI Foundation (formerly known as Yayasan Tan Sr...",{"id":1400,"title":1401,"date":1402,"body":1403,"source":1404,"type":1406,"image":1408,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1395,"created_at":1395,"content_type":24,"related_news":1411,"metatag":1412},849,"Aboitiz Equity Ventures, Globe Telecom and IOI Corporation Berhad Announced as Winners of the 2022 ASEAN Tech for ESG Awards","2022-06-08T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/[All%20Winners]%20ASEAN%20Tech%20for%20ESG%20Awards%20Winners%20Banner(2).jpg\" alt=\"\" />\u003C/div>\u003C/div>\u003C/div>\u003Cp style=\"text-align: left;\">\u003Cbr />\u003C/p>\u003Cdiv style=\"text-align: center;\">\r\n\u003Cem>\u003Cspan style=\"font-size: 14pt;\">\u003Cstrong>Spotlight On ASEAN’s Largest Enterprises And Their Sustainability Journey In The Digital Age\u003C/strong>\u003C/span>\u003C/em>\u003C/div>\u003Cbr />\r\nSingapore, 8 June 2022 – The 3 winning entries of the inaugural ASEAN Tech for Environmental, Social, Governance Awards have been announced. The awards, hosted by AIBP and supported by Oracle, will be presented to the winners at the 2022 AIBP ASEAN Innovation Retreat to be held in Singapore on 4 July 2022.\u003Cbr />\u003Cbr />\r\n\r\nIn recent years, environmental, social and governance (ESG) priorities guided by the United Nations Sustainable Development Goals (UNSDGs) have become a key aspect for business resilience and sustainable development in ASEAN.\u003Cbr /> \u003Cbr />\r\n\r\nAs digitalisation takes centre stage as a key economic driver for ASEAN, there is increasing focus on how digitalisation and technology will support the sustainability agenda. A survey of enterprises in the region also found that the top 3 UNSDGs that ASEAN Enterprises believe will benefit most from technology are\u003Cbr />\u003Cul>\u003Cli>GOAL #9: Industry, Innovation and Infrastructure\r\n\u003C/li>\u003Cli>GOAL #11: Sustainable Cities and Communities\r\n\u003C/li>\u003Cli>GOAL #7: Affordable and Clean Energy\u003C/li>\u003C/ul>\u003Cp>These goals were addressed by the winning entries (in alphabetical order) of the 2022 ASEAN Tech for ESG Awards:\u003C/p>\u003Cp style=\"text-align: center;\">\u003Cem>\u003Cspan style=\"font-size: 14pt;\">\u003Cstrong>Aboitiz Equity Ventures: Accelerating Pathways Towards Sustainability Through Data Science And AI\u003C/strong>\u003C/span>\u003C/em>\u003C/p>\u003Cp>Aboitiz Equity Ventures (Philippines) drives operational eco(efficiency) and financial inclusion to balance the interests of people, planet and profit by leveraging frontier technologies within their business units. Leveraging Aboitiz Data Innovation’s data science and artificial intelligence (AI) capabilities, UnionBank was able to promote financial inclusion, while Aboitiz Power and Republic cement managed to optimise resources and minimise wastage with AI & machine learning.\u003C/p>\u003Cp>\u003Cem style=\"box-sizing: border-box; color: #020202; font-family: Lato, sans-serif; text-decoration-color: initial;\">\u003Cspan style=\"box-sizing: border-box;\">“We said, “Let’s have that entity and capability that knows data”, and to actually (show) that sustainability, eco-friendliness and profit are not oxymorons, these goals can be achieved concurrently.”\u003C/span>\u003C/em>\u003C/p>\u003Cul style=\"box-sizing: border-box; margin-top: 0px; padding: 0px; margin-bottom: 1.3em; color: #020202; font-family: Lato, sans-serif; text-decoration-color: initial;\">\u003Cli style=\"box-sizing: border-box; margin-bottom: 0.6em; margin-left: 1.3em;\">\u003Cem style=\"box-sizing: border-box;\">\u003Cspan style=\"box-sizing: border-box;\">Dr. David R. Hardoon, Chief Data & Innovation Officer, Aboitiz Group\u003C/span>\u003C/em>\u003C/li>\u003C/ul>\u003Cp style=\"text-align: center;\">\u003Cem>\u003Cspan style=\"font-size: 14pt;\">\u003Cstrong>Globe Telecom: Using #Tech4Good And Creating A #GlobeofGood\u003C/strong>\u003C/span>\u003C/em>\u003C/p>\u003Cp>Globe Telecom (Philippines) makes use of predictive data analysis and machine learning technology to pre-empt effects of extreme weather conditions and natural disasters for the community, and through its Digital Thumbprint Programme(DTP), educates the public and promotes safe digital citizenry. In addition, the telecommunications provider supports donations to 13 partner humanitarian organisations with rewards points and money through its digital platform, Globe Rewards.\u003C/p>\u003Cp>\u003Cem style=\"box-sizing: border-box; color: #020202; font-family: Lato, sans-serif; text-decoration-color: initial;\">\u003Cspan style=\"box-sizing: border-box;\">“Aside from just looking at it from an inclusivity perspective, there’s always a social, economic and environmental impact that technology can do”\u003C/span>\u003C/em>\u003C/p>\u003Cul style=\"box-sizing: border-box; margin-top: 0px; padding: 0px; margin-bottom: 1.3em; color: #020202; font-family: Lato, sans-serif; text-decoration-color: initial;\">\u003Cli style=\"box-sizing: border-box; margin-bottom: 0.6em; margin-left: 1.3em;\">\u003Cem style=\"box-sizing: border-box;\">\u003Cspan style=\"box-sizing: border-box;\">Apple Evangelista, Head, Sustainability & Social Responsibility, Globe Telecom Inc.\u003C/span>\u003C/em>\u003C/li>\u003C/ul>\u003Cp style=\"text-align: center;\">\u003Cspan style=\"font-size: 14pt;\">\u003Cstrong>\u003Cem>IOI Corporation Berhad: Strengthening & Enhancing Social Practices Through Digital Transformation\u003C/em>\u003C/strong>\u003C/span>\u003C/p>\u003Cp>IOI Corporation Berhad embarked on a digital transformation journey to drive social inclusion and operational efficiency. Their enterprise resource planning (ERP) system enables wage monitoring that ensures prompt and fair wage disbursement, prevention of working hours manipulation, and easy access to headcount status. E-wallet system, Merchantrade, was also implemented for online salary disbursement to eliminate wage pilfering.\u003C/p>\u003Cp>\u003Cem style=\"box-sizing: border-box; color: #020202; font-family: Lato, sans-serif; text-decoration-color: initial;\">\u003Cspan style=\"box-sizing: border-box;\">“With technology, our opportunities are endless. It actually helps our workers, gives women empowerment, allows children to be able to be educated. We can continue with that by improving connectivity, building capacity, and making sure that social inclusion is about everybody, not just those who are (fortunately) exposed to digital transformation.”\u003C/span>\u003C/em>\u003C/p>\u003Cul style=\"box-sizing: border-box; margin-top: 0px; padding: 0px; margin-bottom: 1.3em; color: #020202; font-family: Lato, sans-serif; text-decoration-color: initial;\">\u003Cli style=\"box-sizing: border-box; margin-bottom: 0.6em; margin-left: 1.3em;\">\u003Cem style=\"box-sizing: border-box;\">\u003Cspan style=\"box-sizing: border-box;\">Dr. Surina Ismail, Group Head of Sustainability, IOI Corporation Berhad\u003C/span>\u003C/em>\u003C/li>\u003C/ul>\u003Cp style=\"box-sizing: border-box; margin-bottom: 1.3em; margin-top: 0px; color: #020202; font-family: Lato, sans-serif; text-decoration-color: initial;\">We would also like to express our appreciation for the final judging panel:\u003C/p>\u003Cul>\u003Cli style=\"box-sizing: border-box; margin-bottom: 1.3em; margin-top: 0px; color: #020202; font-family: Lato, sans-serif; text-decoration-color: initial;\">Han Chung Heng, Senior Vice President, Systems and Alliances & Channels, JAPAC, \u003Cem>\u003Cstrong>Oracle\u003C/strong>\u003C/em>\r\n\u003C/li>\u003Cli style=\"box-sizing: border-box; margin-bottom: 1.3em; margin-top: 0px; color: #020202; font-family: Lato, sans-serif; text-decoration-color: initial;\">Irza Suprapto, CFA, Chief Executive Officer, \u003Cem>\u003Cstrong>Industry Platform\u003C/strong>\u003C/em>\r\n\u003C/li>\u003Cli style=\"box-sizing: border-box; margin-bottom: 1.3em; margin-top: 0px; color: #020202; font-family: Lato, sans-serif; text-decoration-color: initial;\">Milag San Jose- Ballesteros, Global South Diversity Lead, Regional Director for East, Southeast Asia and Oceania, \u003Cem>\u003Cstrong>C40 Cities Climate Leadership Group\u003C/strong>\u003C/em>\r\n\u003C/li>\u003Cli style=\"box-sizing: border-box; margin-bottom: 1.3em; margin-top: 0px; color: #020202; font-family: Lato, sans-serif; text-decoration-color: initial;\">Ozzeir Khan, Director, Digital Innovation & Architecture Division, ADB & Principal IT Specialist for Technology Innovation, \u003Cem>\u003Cstrong>Asian Development Bank (ADB)\u003C/strong>\u003C/em>\u003C/li>\u003C/ul>\u003Cp>\u003Cem>“It’s great that we’re putting a bigger spotlight on sustainability across Southeast Asia, as seen by all the finalists. The role of technology in achieving our sustainability goals cannot be denied. In fact, Oracle’s recent ‘No Planet B’ study revealed that 66% of people in Asia Pacific believe bots will succeed where humans have failed with corporate sustainability. The 9 projects by the finalists is a promising signal that we are on the right path to create a world where man and machine can co-exist to positively impact businesses, communities and the planet.”\u003C/em>\u003C/p>\u003Cul>\u003Cli>\u003Cem>Han Chung Heng, Senior Vice President, Systems and Alliances & Channels, JAPAC, Oracle\u003C/em>\u003C/li>\u003C/ul>\u003Cp>A compilation of all winning nominations, along with a survey of ASEAN stakeholders on their sentiments around the UNSDGs and their organisation’s priorities is available. For any queries, please contact Valerie Tan, Sustainability Program Lead, via email at \u003Ca href=\"https://www.ioigroup.com/valerie@industry-platform.com\" target=\"_blank\">valerie@industry-platform.com\u003C/a>.\u003C/p>\u003Cp>\u003Cem>About the ASEAN Tech for Environmental, Social, Governance Awards\r\n\u003C/em>\u003Cbr />\u003Cem>\r\n\u003C/em>\u003Cbr />\u003Cem>The ASEAN Tech for Environmental, Social, Governance Awards is held with the key objective of recognising organisations who have embarked on ESG projects, utilising digital tools and innovative technologies, with proven impact and results in their sustainability and ESG efforts. For additional information on the Award, please visit \u003Ca href=\"https://iotbusiness-platform.com/award/\" target=\"_blank\">https://iotbusiness-platform.com/award/\u003C/a>.\u003C/em>\u003C/p>\u003Cp>\u003Cbr />  \u003C/p>",{"id":14,"name":1405},"AIBP",[1407],{"id":14,"name":15},{"name":1409,"file_name":1409,"url":1410},"all_winners_asean_tech_for_esg_awards_winners_banner2.jpg","https://www.ioigroup.com/storage/677/all_winners_asean_tech_for_esg_awards_winners_banner2.jpg",[],{"meta_title":1401,"meta_description":1413,"meta_keywords":28},"Spotlight On ASEAN’s Largest Enterprises And Their Sustainability Journey In The Digital Age Singapore, 8 June 2022 – The 3 winning entries of the ina...",{"id":1415,"title":1416,"date":1417,"body":1418,"source":1419,"type":1420,"image":1422,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1424,"created_at":1424,"content_type":24,"related_news":1425,"metatag":1426},848,"IOI Corp Posts Flat Net Profit Growth in 3QFY22; Revenue Jumps 43%","2022-05-20T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_1a_estate(4).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />KUALA LUMPUR (May 20): IOI Corp Bhd registered a flat growth of RM411.2 million in its net profit for the third quarter ended March 31, 2022 (3QFY22), compared with RM401.3 million in the same quarter last year.\r\n\u003Cbr />\r\n\u003Cbr />Earnings per share increased to 6.62 sen from 6.40 sen previously, the company’s filing with Bursa Malaysia on Friday (May 20) showed. \r\n\u003Cbr />\r\n\u003Cbr />This came despite higher revenue of RM4.1 billion for the quarter, increasing 43% compared to RM2.86 billion in a year ago as the group saw higher contribution from its plantation segment. \r\n\u003Cbr />\r\n\u003Cbr />Looking at the financial statements of the company, the flat net profit was a result of higher taxation recorded for the quarter, amounting to RM159.5 million compared to RM73.2 million a year ago.\r\n\u003Cbr />\r\n\u003Cbr />The company attributed the higher effective tax rate for the quarter to Cukai Makmur, losses from tax exempt entity and non-deductible expenses offset against non-taxable income.\r\n\u003Cbr />\r\n\u003Cbr />IOI Corp said its plantation segment’s profit in 3QFY22 of RM518.5 million was 179% higher than the RM185.9 million in 3QFY21 on higher crude palm oil (CPO) and palm kernel (PK) prices realised, as well as higher fresh fruit bunch (FFB) production and higher share of associate results from Bumitama Agri Ltd (BAL). \r\n\u003Cbr />\r\n\u003Cbr />“Average CPO and PK prices realised for 3QFY22 were RM5,064/MT (3QFY21 — RM3,211/MT) and RM4,588/MT (3QFY21 — RM2,616/MT) respectively,” it said. \r\n\u003Cbr />\r\n\u003Cbr />The group’s resource-based manufacturing segment profit for 3QFY22 is RM45.8 million, as compared to RM442.2 million for 3QFY21. \r\n\u003Cbr />\r\n\u003Cbr />“Excluding the fair value loss on derivative financial instruments of RM17.4 million (3QFY21 — gain of RM43.4 million) and share of Loders’s one-off gain of sales of its refinery of RM267.9 million reported in 3QFY21, the resource-based manufacturing segment reported an underlying profit of RM63.2 million for 3QFY22, which was 52% lower than the underlying profit of RM130.9 million for 3QFY21. \r\n\u003Cbr />\r\n\u003Cbr />“The lower profit was due mainly to lower share of associate results from Loders and lower sales volume and margins from its refining sub-segment which was mitigated by higher contribution from oleochemical sub-segment,” said IOI Corp. \r\n\u003Cbr />\r\n\u003Cbr />For the six months ended March 31 (6MFY22), the company’s net profit rose 14.36% to RM1.18 billion from RM1.03 billion, while 6MFY22 revenue jumped 51.98% to RM11.84 billion from RM7.79 billion. \r\n\u003Cbr />\r\n\u003Cbr />Overall, IOI Corp said it expects its financial performance for 4QFY22 to be good, on the back of strong performance from the plantation segment and the oleochemical sub-segment. \r\n\u003Cbr />\r\n\u003Cbr />“For our plantation segment, CPO production is expected to increase in 4QFY22, in line with the seasonal trend. With the anticipated strong CPO price, we expect the plantation segment to perform well in 4QFY22. \r\n\u003Cbr />\r\n\u003Cbr />“Palm refining and fractionation margins have turned positive due to the high CPO export duty, as well as good demand for palm oil as a substitute for sunflower oil. We expect the performance of our refinery and commodity marketing sub-segment to be satisfactory due to the positive margins, as well as the efficient business model of our refinery in Sabah,” it said. \r\n\u003Cbr />\r\n\u003Cbr />As for its oleochemical sub-segment, elevated raw material price and high energy cost continue to pose challenges to the sub-segment, according to the group. \r\n\u003Cbr />\r\n\u003Cbr />Nevertheless, due to the tightness of product availability in the market, the company anticipates that the oleochemical sub-segment’s margins will still remain healthy and enable the sub-segment to sustain its good performance.\r\n\u003Cbr />\r\n\u003Cbr />“For 4QFY22, we expect the performance of the specialty fats sub-segment comprising our associate company Bunge Loders Croklaan (BLC) to be satisfactory, as it benefits from favourable demand and BLC’s supply chain capability, although the operating environment presents challenges such as high energy cost and the pandemic-related lockdown in parts of China. \r\n\u003Cbr />\r\n\u003Cbr />The US dollar has strengthened considerably against the ringgit, which has resulted in forex translation loss from our USD-denominated borrowings. The US dollar is anticipated to remain strong in the near term due to the aggressive US Federal Funds rate hikes this year,” it added.\r\n\u003Cbr />\r\n\u003Cbr />IOI Corp shares closed up one sen or 0.23% at RM4.40 on Friday, giving it a market capitalisation of RM27.65 billion.\u003C/p>",{"id":1273,"name":1274},[1421],{"id":14,"name":15},{"name":1053,"file_name":1053,"url":1423},"https://www.ioigroup.com/storage/676/rsz_1a_estate4.jpg","2025-05-02T09:53:36.000000Z",[],{"meta_title":1416,"meta_description":1427,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR (May 20): IOI Corp Bhd registered a flat growth of RM411.2 million in its net profit for the third quarter...",{"id":1429,"title":1430,"date":1431,"body":1432,"source":1433,"type":1434,"image":1436,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1424,"created_at":1424,"content_type":24,"related_news":1439,"metatag":1440},847,"IOI Corp 2Q Net Profit Jumps 39% to RM494.7m, Declares Six Sen Dividend","2022-02-23T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_plantation_main(3).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />KUALA LUMPUR (Feb 23): IOI Corporation Bhd saw its net profit in the second quarter ended Dec 31, 2021 (2QFY22) jump 39.08% to RM494.7 million from RM355.7 million reported in the same period the prior year, underpinned by higher contribution across its plantation and resource-based manufacturing segments. \r\n\u003Cbr />\r\n\u003Cbr />As a result, earnings per share rose 7.95 sen from 5.68 sen.\r\n\u003Cbr />\r\n\u003Cbr />In a Bursa Malaysia filing on Wednesday (Feb 23), the group said its quarterly revenue surged by 67.53% to RM4.11 billion from RM2.45 billion, fuelled by higher revenue reported by its plantation segment amid an increase in crude palm oil (CPO) prices.\u003C/p>\u003Cp>Meanwhile, the group has declared its first interim dividend of six sen per share, to be paid on March 25. \r\n\u003Cbr />\r\n\u003Cbr />For its first six months ended Dec 31 (1HFY22), the group’s net profit increased by 21.89% to RM772.3 million against RM633.6 million while revenue rose by 57.03% to RM7.75 billion from RM4.93 billion reported in the same period a year ago. \r\n\u003Cbr />\r\n\u003Cbr />In 1HFY22, IOI Corp realised an average CPO price of RM4,305 per tonne compared to RM2,782 per tonne in the year-ago period.\r\n\u003Cbr />\r\n\u003Cbr />On a quarterly basis, the group’s net profit came in 78.21% higher against RM277.6 million registered in the immediate preceding quarter (1QFY22) while revenue gained 13.22% from RM3.63 billion in 1QFY22. \r\n\u003Cbr />\r\n\u003Cbr />Moving forward, the group said it anticipates CPO price to remain strong until at least the middle of this year, supported by global edible oil supply tightness as well as growth in global economy as the Covid-19 pandemic transitioned to the Covid-19 endemic phase.\r\n\u003Cbr />\r\n\u003Cbr />“Overall, the group expects its performance during the remaining periods of FY22 to be good on the back of strong performance from our plantation segment.\r\n\u003Cbr />\r\n\u003Cbr />“For the remaining periods of FY22, we foresee an improvement in the operating performance of the specialty fats sub-segment comprising our associate company Bunge Loders Croklaan with the continued growth in the global economy, although the operating environment still present challenges such as high freight cost and rising energy cost,” it said. \r\n\u003Cbr />\r\n\u003Cbr />Shares in IOI Corp finished two sen or 0.45% higher to RM4.42 on Wednesday, valuing the company at RM27.78 billion. \u003C/p>\u003Cp>\u003Cbr />\u003C/p>",{"id":1273,"name":1274},[1435],{"id":14,"name":15},{"name":1437,"file_name":1437,"url":1438},"rsz_plantation_main3.jpg","https://www.ioigroup.com/storage/675/rsz_plantation_main3.jpg",[],{"meta_title":1430,"meta_description":1441,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR (Feb 23): IOI Corporation Bhd saw its net profit in the second quarter ended Dec 31, 2021 (2QFY22) jump 39....",{"id":1443,"title":1444,"date":1445,"body":1446,"source":1447,"type":1448,"image":1450,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1453,"created_at":1453,"content_type":24,"related_news":1454,"metatag":1455},846,"Leading Help and Relief To Those Affected By Flood","2022-01-26T00:00:00.000000Z","\u003Cp>\u003Cbr />\u003C/p>\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/1(9).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />\u003C/p>\u003Cp>IOI Plantation Services Sdn Bhd (IOI Plantation) extended both help and flood relief within its operational areas as well as the surrounding communities in Johor, Pahang and Sabah, following the torrential rain which began on 16 December 2021, which inundated seven out of 13 states in Malaysia.\r\n\u003Cbr />\r\n\u003Cbr />Employees of IOI Plantation at Bukit Dinding Estate worked swiftly with the residents of Taman Sri Makmur, Karak, Pahang to clear both mud and debris by mobilising six of the estate’s tractors when floodwater receded. These clean-up efforts took place between 19 to 23 December 2021.\u003C/p>\u003Cp>IOI Plantation also provided RM6,000 worth of flood relief, consisting of rice, cooking oil, flour and other food aid to the flood victims, while also having distributed clean water to residents by sourcing directly from the river using Bukit Dinding estate’s road.\r\n\u003Cbr />\u003C/p>\u003Cp>\r\n\r\n\r\n\r\n\u003C/p>\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/2(7).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003Cp style=\"font-size: 10pt; text-align: center;\">\u003Cbr />\u003C/p>\u003C/div>\u003C/div>\u003Cdiv class=\"row\">Meanwhile, over at Tambang Estate in Segamat, Johor, IOI Plantation employees rapidly constructed an excess road for villagers at Kampung Spang Loi to escape for refuge at the nearest flood relief centre, as well as helped supply clean water to the villagers. During evacuation, IOI Plantation employees worked quickly to move and salvage what they could from each villagers’ homes including items such as essential electronic appliances and furniture before the flood situation worsened. After the flood receded, IOI Plantation employees once again stepped out to efficiently help remove debris and clutter, allowing the villagers to rebuild their homes.\u003Cbr />\u003Cp>\u003Cbr />\u003C/p>\u003C/div>\u003Cdiv class=\"row\">    \r\n\u003Cbr />\r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/3(5).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />At the height of the flood crisis, IOI Group's charitable foundation, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), donated RM50,000 to the \u003Cem>Tabung Misi Bantuan Banjir Negara\u003C/em> through \u003Cem>Yayasan Komuniti Negara\u003C/em> to assist in the country’s flood relief effort, towards purchasing food baskets and other essential goods, relocating flood victims to safe locations as well as to providing aid in cleaning and repairing their damaged houses. On top of that, the foundation continues providing aids and financial assistances to IOI employees and the local communities who are affected by the flood.\u003C/p>\u003Cp>For more pictures and videos, check out our \u003Ca href=\"https://www.instagram.com/ioicorporation\" target=\"_blank\">Instagram\u003C/a> page!\u003Cbr />\u003C/p>",{"id":1002,"name":1003},[1449],{"id":14,"name":15},{"name":1451,"file_name":1451,"url":1452},"19.jpg","https://www.ioigroup.com/storage/674/19.jpg","2025-05-02T09:53:35.000000Z",[],{"meta_title":1444,"meta_description":1456,"meta_keywords":28},"(File pic by IOI Corporation).IOI Plantation Services Sdn Bhd (IOI Plantation) extended both help and flood relief within its operational areas as wel...",{"id":1458,"title":1459,"date":1460,"body":1461,"source":1462,"type":1463,"image":1465,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1453,"created_at":1453,"content_type":24,"related_news":1468,"metatag":1469},845,"Thrift Store Donates RM260,000","2021-12-04T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/1(5).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(From left) Star Media Group corporate communication and social impact manager Selina Ng symbolically receiving part of the proceeds on behalf of Star Foundation from Lee and Wong.\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />THRIFT shops are a great way to find bargains, but it’s more meaningful to know that the proceeds of sales are being used to fund activities that help out those who are less fortunate.\r\n\u003Cbr />\r\n\u003Cbr />Bargain Basement, the social enterprise created under the arm of IOI Group’s foundation – IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) does just that.\r\n\u003Cbr />\r\n\u003Cbr />In the Christmas spirit of benevolence and giving, RM260,000 from the charity stores’ proceeds were donated to various beneficiaries.\r\n\u003Cbr />\r\n\u003Cbr />Among them are organisations that provide care and support for the elderly and orphans, as well as those with disabilities and Alzheimer’s disease.\r\n\u003Cbr />\r\n\u003Cbr />The 14 beneficiaries are Pusat Jagaan dan Rawatan Orang Tua Al-Ikhlas, Dual Blessing Bhd, Shelter Home for Children, Malaysia Lotus Charity Care Centre Association, PAWS Animal Welfare Society, Ti-Ratana Welfare Society Malaysia, Dignity For Children Foundation, Rumah Orang Tua Chok Lam, Pusat Jagaan Sejati, Alzheimer’s Disease Foundation Malaysia (ADFM), Pertubuhan Kebajikan Kristian Aman, SJK (C) Chen Moh, Sin Chew Foundation and Star Foundation.\r\n\u003Cbr />\r\n\u003Cbr />Bargain Basement has given out more than RM526,000 to various charities to date.\r\n\u003Cbr />\r\n\u003Cbr />IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) executive director Datin Joanne Wong, who presented the proceeds with IOI group managing director and chief executive officer Datuk Lee Yeow Chor, said this year’s beneficiaries were selected by repeat donors and customers.\r\n\u003Cbr />\r\n\u003Cbr />“This year, we allowed our generous supporters to pick a charity, which is why we have a wide range of beneficiaries that also includes an animal shelter,” said Wong.\r\n\u003Cbr />\r\n\u003Cbr />“All the selected welfare homes have people who are very hands-on.\r\n\u003Cbr />\r\n\u003Cbr />“When it comes to managing their establishment, they do it very well, which is why we will donate to them again in the future.\u003C/p>\u003Cp>\u003Cbr />\u003C/p>\r\n\r\n\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/2(6).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(From left) Star Media Group corporate communication and social impact manager Selina Ng symbolically receiving part of the proceeds on behalf of Star Foundation from Lee and Wong.\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />“It is heart-warming to know that this meaningful initiative, which encourages people to declutter their homes, not only benefits the community with access to quality items at low prices, but also contributes to charity.\r\n\u003Cbr />\r\n\u003Cbr />“I hope that our donation brings some extra comfort to the residents.\r\n\u003Cbr />\r\n\u003Cbr />“Many of the homes need a lot for their expenses and facilities,” she said during the ceremony at IOI City Mall in Putrajaya.\r\n\u003Cbr />\r\n\u003Cbr />With three Bargain Basement stores currently operating (at IOI City Mall, IOI Mall Puchong and at the Universiti Tunku Abdul Rahman’s Kampar Campus), Wong has plans for another branch.\r\n\u003Cbr />\r\n\u003Cbr />Dual Blessing chief executive officer Lynn Yew said the proceeds from Bargain Basement would help to cover the charity’s operating expenses and ease the pressure of relying solely on its own businesses.\r\n\u003Cbr />\r\n\u003Cbr />“We were all affected by the Covid-19 pandemic as donations and visitors became fewer.\r\n\u003Cbr />\r\n\u003Cbr />“Our recycling business, which was our main source of income, was not able to operate until Oct 1.”\r\n\u003Cbr />\r\n\u003Cbr />Meanwhile, Star Media Group corporate communication and social impact manager Selina Ng received a portion of the proceeds on behalf of Star Foundation.\r\n\u003Cbr />\r\n\u003Cbr />“Bargain Basement’s model is a very enterprising one, especially in the way it brings about a two-prong benefit to low-income consumers and charitable organisations.\r\n\u003Cbr />\r\n\u003Cbr />“Star Foundation is most honoured to receive this donation from it and IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng). This speaks volumes of the trust from our corporate partners in our foundation’s work in serving the needy.\r\n\u003Cbr />\r\n\u003Cbr />“In unprecedented challenging times like these, it takes a collective effort to bring about meaningful change.\r\n\u003Cbr />\r\n\u003Cbr />“We welcome contributions and collaborations so that we can reach out to even more people,” Ng added.\r\n\u003Cbr />\r\n\u003Cbr />Star Foundation is the charity arm of the Star Media Group and aims to support impactful initiatives to help a diverse group of beneficiaries. Since its inception in 2004, the foundation has contributed over RM20.4mil to more than 300 NGOs and various causes.\u003C/p>\u003Cp>\u003Cbr />\u003C/p>",{"id":10,"name":11},[1464],{"id":14,"name":15},{"name":1466,"file_name":1466,"url":1467},"15.jpg","https://www.ioigroup.com/storage/673/15.jpg",[],{"meta_title":1459,"meta_description":1470,"meta_keywords":28},"(From left) Star Media Group corporate communication and social impact manager Selina Ng symbolically receiving part of the proceeds on behalf of Star...",{"id":1472,"title":1473,"date":1474,"body":1475,"source":1476,"type":1477,"image":1479,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1482,"created_at":1482,"content_type":24,"related_news":1483,"metatag":1484},844,"RM260,000 Of Early Christmas Joy For Charity Homes","2021-12-01T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/1(4).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>IOI Group Managing Director and Chief Executive Dato’ Lee Yeow Chor and IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) Executive Director Datin Joanne Wong sharing the joy of giving with the 14 recipients of the charity homes and organisations at the RM260,000 mock cheque presentation. (File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />PUTRAJAYA, 1 December 2021 – A total of 14 charity homes and organisations were treated to an early Christmas gift when Bargain Basement, an initiative by IOI Group’s foundation, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), gave out RM260,000 of its net proceeds in a presentation ceremony at IOI City Mall.\u003Cbr />\u003Cbr />IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) Executive Director and Bargain Basement founder Datin Joanne Wong spread the giving spirit of Christmas together with her Bargain Basement champions as they presented cheques to the welfare organisations. The proceeds will enable these organisations to purchase daily neccessities, help needy students to buy stationery and school supplies, assist the old and the ill and those with special needs and the disabled with medical expenses as well as help abandoned animals.\u003Cbr />\u003Cbr />The 14 beneficiaries are Pusat Jagaan dan Rawatan Orang Tua Al-Ikhlas, Rumah Orang Tua Chok Lam, Pertubuhan Kebajikan Kristian Aman, Shelter Home for Children, Malayasia Lotus Charity Care Centre Association, PAWS Animal Welfare Society, Ti-Ratana Welfare Society Malaysia, Dignity for Children Foundation, Pusat Jagaan Sejati, Star Foundation, SJK (C) Chen Moh, Alzheimer’s Disease Foundation Malaysia, Sin Chew Foundation and Dual Blessing Bhd.\u003Cbr />\u003Cbr />Since its inception in 2016, Bargain Basement has given out over RM280,000 to 20 various homes. An innovative social enterprise, Bargain Basement encourages the public to donate pre-loved or unused items. From clothing to household items, the items are then resold at low prices. All net proceeds will be channelled to different charities annually. Bargain Basement’s second outlet is located at IOI Mall Puchong while its third outlet is located at Universiti Tunku Abdul Rahman (UTAR) in Perak through a collaboration with the UTAR students.\r\n\r\n\u003C/p>\u003Cdiv class=\"row\"> \r\n     \u003Cdiv class=\"col-md-6 offset-md-3\">\r\n        \u003Cimg style=\"width:100%;\" alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/IMG_20211201_105159.jpg\" />\r\n     \u003C/div>\u003C/div>\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\r\n\u003Cp>\r\n    \r\n\u003Cbr />On the same day, children from Rumah Shalom in Puchong also enjoyed themselves in a day of fun and games at the adventurous District 21, courtesy of IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng). The children got to explore every exciting game and challenge in the first-of-its-kind 70,000 sq. ft. indoor adventure theme park located in the mall while adhering to standard operating procedures. They were then treated to lunch at Texas Chicken and everyone left with happy smiles on their faces.\u003C/p>\u003Cbr />\u003Cdiv class=\"row\"> \r\n     \u003Cdiv class=\"col-md-6\">\r\n        \u003Cimg style=\"width:100%;\" alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/2(5).jpg\" />\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\r\n     \u003C/div>\r\n    \u003Cdiv class=\"col-md-6\">\r\n        \u003Cimg style=\"width:100%;\" alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/3(4).jpg\" />\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\r\n     \u003C/div>\r\n\u003C/div>\u003Cp>\u003Cbr />\r\nFor more pictures, check out our \u003Ca href=\"https://www.instagram.com/ioicorporation\" target=\"_blank\">Instagram\u003C/a> page! \u003C/p>",{"id":1002,"name":1003},[1478],{"id":241,"name":564},{"name":1480,"file_name":1480,"url":1481},"14.jpg","https://www.ioigroup.com/storage/672/14.jpg","2025-05-02T09:53:34.000000Z",[],{"meta_title":1473,"meta_description":1485,"meta_keywords":28},"IOI Group Managing Director and Chief Executive Dato’ Lee Yeow Chor and IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) Executive Di...",{"id":1487,"title":1488,"date":1489,"body":1490,"source":1491,"type":1492,"image":1494,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1482,"created_at":1482,"content_type":24,"related_news":1497,"metatag":1498},843,"IOI Corp Confirms Not Linked to NFT IOI Token, Taking Necessary Steps to Halt Scams","2021-11-30T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/scam%20alert_web.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />KUALA LUMPUR (Nov 29): IOI Corp Bhd has stressed that it has no link with the non-fungible token (NFT) IOI Token as well as any other online investment schemes, the group said in an email reply to The Edge on Monday (Nov 29). \r\n\u003Cbr />\r\n\u003Cbr />The group also highlighted that it will take necessary actions on these scams.\r\n\u003Cbr />\r\n\u003Cbr />IOI denied having any link with IOI Token as well as any other online investment schemes. \r\n\u003Cbr />\r\n\u003Cbr />“We will take necessary action on these scam activities or the misuse of IOI brand names,” it said in the email reply to The Edge. \r\n\u003Cbr />\r\n\u003Cbr />A check on NFT marketplace Qorpo Market revealed that the IOI Token, a form of cryptocurrency, is currently trading at US$4.21 with a market capitalisation of US$30 million. \r\n\u003Cbr />\r\n\u003Cbr />Another micro-site gave predictions on the IOI Token for another three consecutive years. \r\n\u003Cbr />\r\n\u003Cbr />“The conclusion states that the market will never be stable or the market is always volatile. The price of cryptocurrency also fluctuates with the market due to market volatility.\r\n\u003Cbr />\r\n\u003Cbr />“Now, if the IOI Token (IOI) shows any volatility with the market then we will update all the information here. Therefore, all you need to do is stay connected with us to keep your identity up to date with the market value of the cryptocurrency,” the micro-site said. \r\n\u003Cbr />\r\n\u003Cbr />At noon break on Monday (Nov 29), shares in IOI Corp ended seven sen or 1.87% lower at RM3.68, valuing the company at RM23.13 billion.\u003C/p>\u003Cp>More information can be found in our Scam and Fraud Notice \u003Ca href=\"https://www.ioigroup.com/scam_notice\" target=\"_blank\">here\u003C/a>.\u003C/p>",{"id":1273,"name":1274},[1493],{"id":14,"name":15},{"name":1495,"file_name":1495,"url":1496},"scam_alert_web.jpg","https://www.ioigroup.com/storage/671/scam_alert_web.jpg",[],{"meta_title":1488,"meta_description":1499,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR (Nov 29): IOI Corp Bhd has stressed that it has no link with the non-fungible token (NFT) IOI Token as well...",{"id":1501,"title":1502,"date":1503,"body":1504,"source":1505,"type":1506,"image":1508,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1511,"created_at":1511,"content_type":24,"related_news":1512,"metatag":1513},841,"IOI Corp 1QFY22 Net Profit Marginally Lower Amid Forex Translation Loss","2021-11-24T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/Stock2(3).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />KUALA LUMPUR (Nov 24): IOI Corp Bhd reported a marginally lower net profit of RM277.6 million for the first quarter ended Sept 30, 2021 (1QFY22), from RM277.9 million in the previous year’s corresponding quarter, due to a foreign currency translation loss recorded during the quarter.\r\n\u003Cbr />\r\n\u003Cbr />Revenue for the quarter increased 47% to RM3.63 billion, from RM2.48 billion a year earlier.\r\n\u003Cbr />\r\n\u003Cbr />Earnings per share, however, rose to 4.45 sen from 4.43 sen a year ago.\u003C/p>In its filing with the bourse, the group said its pre-tax profit for the quarter stood at RM446.8 million, up 24% from RM360.2 million.\r\n\u003Cbr />\r\n\u003Cbr />Excluding the total net foreign currency translation loss of RM26.3 million on foreign currency denominated borrowings and deposits and the net fair value loss on derivative financial instruments of RM134.4 million, it said its underlying pre-tax profit would be 78% higher year-on-year at RM341.5 million.\r\n\u003Cbr />\r\n\u003Cbr />It attributed the growth to higher contributions from all segments.\r\n\u003Cbr />\r\n\u003Cbr />IOI’s plantation segment saw a 78% increase in profit contribution to RM487 million, mainly due to higher crude palm oil (CPO) and palm kernel (PK) prices realised, partly offset by lower fresh fruit bunch (FFB) production.\r\n\u003Cbr />\r\n\u003Cbr />Meanwhile, the resource-based manufacturing segment recorded a 16% increase in segment profit to RM46.1 million for the quarter.\r\n\u003Cbr />\r\n\u003Cbr />Excluding the one-off fair value loss, the segment’s underlying profit stood at RM154.8 million.\r\n\u003Cbr />\r\n\u003Cbr />“The higher profit was due mainly to higher contribution from both oleochemical and refining sub-segments with improvement in margins, partly offset by lower share of results from our specialty fats associate, Bunge Loders Croklaan Group B.V.,” said the group.\r\n\u003Cbr />\r\n\u003Cbr />On its prospects, IOI noted the rally in CPO price this year to above RM5,000 per metric tonne, and said it anticipates the price to remain high until early 2022, supported by the global edible oil supply tightness and good demand as the global economy recovers.\r\n\u003Cbr />\r\n\u003Cbr />It said its plantation segment might see lower CPO production due to adverse weather and the unresolved labour shortage situation, although the strong CPO price and increased mechanisation in its estates would support the segment’s performance.\r\n\u003Cbr />\r\n\u003Cbr />The group expects the division to perform well during its current financial year.\r\n\u003Cbr />\r\n\u003Cbr />Its refinery and commodity marketing sub-segment has been supported by robust demand due to the global economic recovery, coupled with good margins, but the considerable hike in raw material prices in recent times, coupled with persistent high freight costs, pose a huge challenge. \r\n\u003Cbr />\r\n\u003Cbr />“Nevertheless, we believe that our relentless effort to strive for cost efficiency, enhanced productivity and growth in specialty business will enable the sub-segment to sustain its profitability,” it said.\r\n\u003Cbr />\r\n\u003Cbr />IOI expects its overall operating performance for the remaining quarters of its financial year to be good.\r\n\u003Cbr />\r\n\u003Cbr />IOI rose one sen or 0.3% to RM3.77 on Wednesday (Nov 24), giving it a market capitalisation of RM23.7 billion.",{"id":1273,"name":1274},[1507],{"id":14,"name":15},{"name":1509,"file_name":1509,"url":1510},"stock23.jpg","https://www.ioigroup.com/storage/669/stock23.jpg","2025-05-02T09:53:33.000000Z",[],{"meta_title":1502,"meta_description":1514,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR (Nov 24): IOI Corp Bhd reported a marginally lower net profit of RM277.6 million for the first quarter ende...",{"id":1516,"title":1517,"date":1503,"body":1518,"source":1519,"type":1520,"image":1522,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1511,"created_at":1511,"content_type":24,"related_news":1524,"metatag":1525},842,"IOI Corp Posts Higher Plantation Profits in Q1, but Wary About La Nina And Labour Shortage","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_1a_estate(3).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />KUALA LUMPUR: IOI Corp Bhd said higher palm oil prices boosted its revenue in the first quarter ended Sept 30, but unfavourable currency exchange rates and derivative losses curbed its net profit growth.\r\n\u003Cbr />\r\n\u003Cbr />The planter expects prices to remain elevated into early 2022, but warned that freak weather pattern and the unresolved labour shortage situation to impact its output.\r\n\u003Cbr />\r\n\u003Cbr />For the three-month just ended, IOI Corp posted a net profit of RM277.6mil compared with RM277.9mil made a year earlier. Revenue jumped to RM3.6bil from RM2.48bil previously, the plantation giant said in a filing today.\r\n\u003Cbr />\r\n\u003Cbr />Profit before taxation (PBT) was substantially higher at RM446.8mil in the first quarter (Q1) as compared with RM360.2mil a year ago. This was despite the 15% drop in palm oil production to 746,307 tonnes from 878.701 tonnes, while yield per hectare also declined.\r\n\u003Cbr />\r\n\u003Cbr />Average CPO selling price was higher at RM4,032 a tonne compared with RM2,579 per tonne a year earlier. CPO prices were traded above RM5,000 tonne in October and November.\r\n\u003Cbr />\u003Cbr />"We anticipate the CPO price to remain high until early 2022, supported by the global edible oil supply tightness as well as good demand as the global economy continues to improve," IOI Corp said.\r\n\u003Cbr />\r\n\u003Cbr />The group's latest quarterly results, however, were impacted by non-operating items.\u003C/p>"Excluding the total net foreign currency translation loss of RM26.3mil on foreign currency denominated borrowings and deposits and net fair value loss on derivative financial instruments of RM134.4 million, the underlying PBT of RM607.5mil for Q1 FY2022 was 78% higher than the underlying PBT of RM341.5mil for Q1 FY2021, due mainly to higher contribution from all segments," it said.\r\n\u003Cbr />\r\n\u003Cbr />The group's plantation segment profit for Q1 surged 78% to RM487, while its resource-based manufacturing segment reported a 16% increase in profit to RM46.1mil.\r\n\u003Cbr />\r\n\u003Cbr />"For our plantation segment, the CPO production is expected to be lower than initially anticipated due to the impact from adverse weather arising from the La Nina phenomenon and unresolved labour shortage situation. Nevertheless, with the strong CPO price and the increased mechanisation in our estates, we foresee our plantation segment to perform well during the current financial year," it added.\r\n\u003Cbr />\r\n\u003Cbr />IOI Corp said its refinery and commodity marketing sub-segment has been enjoying almost two quarters of positive refining and fractionation margins.\r\n\u003Cbr />\r\n\u003Cbr />"We expect the performance of this sub-segment to be satisfactory due to the positive margins and the strategic location of our refinery complex in Sandakan, Sabah," it said. IOI Corp said that the oleochemical sub-segment has been supported by robust demand due to the global economy recovery coupled with good margins.\r\n\u003Cbr />\r\n\u003Cbr />"For the specialty fats sub-segment comprising our associate company Bunge Loders Croklaan Group B.V., we expect the sub-segment to perform better in the current financial year, supported by good performance from North American region and new product launches," the group said.\r\n\u003Cbr />\r\n\u003Cbr />However, unpredictable currency swings are likely to continue to impact its results.\r\n\u003Cbr />\r\n\u003Cbr />"The US Dollar-Ringgit exchange rate which affects the foreign exchange translation gain/loss arising from our USD-denominated borrowings is expected to remain volatile in the near term," it said.\r\n\u003Cbr />\r\n\u003Cbr />Despite this, IOI Corp expects its overall operating performance for the remaining periods of the current financial year to be good on the back of strong performance from our plantation segment.\r\n\u003Cbr />\r\n\u003Cbr />",{"id":10,"name":11},[1521],{"id":14,"name":15},{"name":973,"file_name":973,"url":1523},"https://www.ioigroup.com/storage/670/rsz_1a_estate3.jpg",[],{"meta_title":1517,"meta_description":1526,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR: IOI Corp Bhd said higher palm oil prices boosted its revenue in the first quarter ended Sept 30, but unfav...",{"id":1528,"title":1529,"date":1530,"body":1531,"source":1532,"type":1533,"image":1535,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1538,"created_at":1538,"content_type":24,"related_news":1539,"metatag":1540},840,"IOI Corp Unit Sets Final Acceptance Amount at US$295.22m in Cash Tender Offer for US$600m Bonds","2021-10-28T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_organisational.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />KUALA LUMPUR (Oct 28): IOI Corp Bhd said on Thursday (Oct 28) its unit IOI Investment (L) Bhd has decided to set the final acceptance amount at US$295.22 million (about RM1.23 billion) for the oil palm plantation group's US$600 million bond cash tender offer which expired at 4pm (London, UK time) on Wednesday (Oct 27).\r\n\u003Cbr />\r\n\u003Cbr />In a Bursa Malaysia filing on Thursday, IOI Corp said the expected settlement date for the offer is Nov 9, 2021.\r\n\u003Cbr />\r\n\u003Cbr />"Following settlement of the offer, US$304.78 million in an aggregate nominal amount of the notes will remain outstanding," IOI Corp said.\u003C/p>\u003Cp>IOI Investment's US$600 million bonds, which are due in 2022, pays an annual interest rate of 4.375%, according to IOI Corp, which is the guarantor of the securities under IOI Investment's US$1.5 billion Euro medium-term note programme.\r\n\u003Cbr />\r\n\u003Cbr />At Bursa's 12.30pm break on Thursday, IOI Corp's share price slipped five sen or 1.24% to RM3.97, giving the company a market value of about RM24.69 billion.\r\n\u003Cbr />\r\n\u003Cbr />IOI Corp's latest reported number of issued shares stood at 6.22 billion, according to its Bursa filing on Tuesday (Oct 26).\u003C/p>\u003Cp>\u003Cbr />\u003C/p>",{"id":1273,"name":1274},[1534],{"id":14,"name":15},{"name":1536,"file_name":1536,"url":1537},"rsz_organisational.jpg","https://www.ioigroup.com/storage/668/rsz_organisational.jpg","2025-05-02T09:53:32.000000Z",[],{"meta_title":1529,"meta_description":1541,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR (Oct 28): IOI Corp Bhd said on Thursday (Oct 28) its unit IOI Investment (L) Bhd has decided to set the fin...",{"id":1543,"title":1544,"date":1545,"body":1546,"source":1547,"type":1548,"image":1550,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1538,"created_at":1538,"content_type":24,"related_news":1552,"metatag":1553},839,"IOI Corp's New Offer of US$300m Notes Attracts Investors' Interest","2021-10-27T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_organisational.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cbr />\u003Cp>KUALA LUMPUR (Oct 27): IOI Corp Bhd said its subsidiary IOI Investment (L) Bhd's new offer of US$300 million 10-year unsecured notes has attracted institutional investors.\r\n\u003Cbr />\r\n\u003Cbr />The new offer of US$300 million 10-year senior unsecured notes is a drawdown from the issuer's US$1.5 billion Euro Medium-term Note Programme.\r\n\u003Cbr />\r\n\u003Cbr />On Tuesday (Oct 26), Moody's rated IOI Investment with Baa2 rating as it had successfully returned to the international capital markets from its last bond issuance in 2012.\r\n\u003Cbr />\r\n\u003Cbr />"With strong orders over US$1.2 billion at its peak, the notes successfully attracted interest from a wide array of high-quality institutional investors.\r\n\u003Cbr />\r\n\u003Cbr />"The notes were priced at US Treasury spreads of T+185 bps, which was a 25-bps tightening from the initial pricing guidance," said IOI Corp in a bourse filing on Wednesday.\r\n\u003Cbr />\r\n\u003Cbr />Capitalising on a short favourable market window amidst recent rates volatility, IOI Corp said this successful transaction illustrates the group's ability to navigate a challenging environment and respond efficiently to capture conducive market conditions.\r\n\u003Cbr />\r\n\u003Cbr />Credit Suisse, SMBC Nikko, and Standard Chartered Bank acted as joint lead managers and joint bookrunners for the transaction.\r\n\u003Cbr />\r\n\u003Cbr />Separately, IOI Corp said trading of the group's shares as well as its structured warrants was halted from 10.42am to 11.42am on Wednesday.\r\n\u003Cbr />\r\n\u003Cbr />At 12.17pm on Wednesday, shares of IOI Corp were down four sen or 0.99% to RM4.01, with a market capitalisation of RM25.2 billion.\r\n\u003Cbr />\r\n\u003Cbr />Last week, IOI Investment invited holders of its outstanding US$600 million 4.375% notes due 2022 to tender for their notes for purchase by the company for cash.\r\n\u003Cbr />\r\n\u003Cbr />The notes under the company's US$1.5 billion Euro Medium Term Note Programme are guaranteed by IOI Corp.\r\n\u003Cbr />\r\n\u003Cbr />On Tuesday (Oct 26), IOI Investment extended the tender offer settlement date for its US$600 milion notes to Nov 9 from Nov 3.\u003C/p>",{"id":1273,"name":1274},[1549],{"id":14,"name":15},{"name":1536,"file_name":1536,"url":1551},"https://www.ioigroup.com/storage/667/rsz_organisational.jpg",[],{"meta_title":1544,"meta_description":1554,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR (Oct 27): IOI Corp Bhd said its subsidiary IOI Investment (L) Bhd's new offer of US$300 million 10-year uns...",{"id":1556,"title":1557,"date":1558,"body":1559,"source":1560,"type":1561,"image":1563,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1565,"created_at":1565,"content_type":24,"related_news":1566,"metatag":1567},837,"IOI Corp Offers to Buy Debt Notes","2021-10-19T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_organisational.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cdiv class=\"row\">\u003Cbr />\u003C/div>\u003Cdiv class=\"row\">KUALA LUMPUR: IOI Corp Bhd’s unit IOI Investment (L) Bhd has announced plans to purchase its outstanding US$600mil (RM2.5bil) 4.375% notes, which are due in 2022.\r\n\u003Cbr />\r\n\u003Cbr />The notes are guaranteed by IOI Corp under the US$1.50bil (RM6.25bil) euro medium-term note (MTN) programme.\r\n\u003Cbr />\r\n\u003Cbr />IOI Investment (the offeror) has invited holders of the said outstanding notes to either submit tenders to purchase their notes for cash on the terms and in the tender offer to be despatched to them, according to IOI Corp in a filing with Bursa Malaysia yesterday.\r\n\u003Cbr />\r\n\u003Cbr />The group noted that the offer, which is in conjunction with the issuance of the new notes, is part of the group’s proactive management of its funding and capital structure.The notes purchased by the IOI Investment pursuant to the offer are expected to be cancelled and will not be re-issued or resold.IOI Corp said: “The offeror will pay (on the settlement date) for any notes validly tendered and accepted for purchase by it pursuant to the offer – a purchase price of US$1,023 (RM4,268) per US$1,000 (RM4,172) of the nominal amount of such notes.\r\n\u003Cbr />\r\n\u003Cbr />“IOI Investment will also pay (on the settlement date) an accrued interest payment in respect of any notes accepted by it for purchase pursuant to the offer.”\r\n\u003Cbr />\r\n\u003Cbr />The offer, which commenced yesterday will expire on Oct 27.\r\n\u003Cbr />\r\n\u003Cbr />Meanwhile, Moody’s Investors Service, in its latest report, expected IOI Corp’s leverage to decline due to stronger earnings growth amid high crude palm oil (CPO) prices and debt reduction.\r\n\u003Cbr />\r\n\u003Cbr />The rating agency noted that IOI’s adjusted leverage – as measured by adjusted debt/earnings before interest, tax, depreciation and amortisation (Ebitda) – to decline to around 2.5 times over the next 12 to 18 months from 3.3 times for the fiscal year ended June 2021.\r\n\u003Cbr />\r\n\u003Cbr />“This improvement will be driven by earnings growth amid high CPO prices and debt reduction of around RM400mil to RM500mil with cash on hand,” it said.\r\n\u003Cbr />\r\n\u003Cbr />Moody’s said the demand for IOI’s palm oil products has remained solid despite the pandemic, and the company’s operations have not been significantly disrupted by periodic movement control restrictions in Malaysia. In addition, the high CPO price has boosted earnings at IOI’s plantations segment in recent quarters, despite lower CPO production amid heavy rainfall and a decline in mature planted hectarage as older trees were replanted.\r\n\u003Cbr />\r\n\u003Cbr />In the report, Moody’s has affirmed the group’s Baa2 issuer rating, the Baa2 backed senior unsecured bond ratings of IOI Investment (L) Bhd, and the Baa2 backed senior unsecured bank credit facility rating of IOI Ventures (L) Bhd.\r\n\u003Cbr />\r\n\u003Cbr />It has also affirmed the provisional (P) Baa2 backed senior unsecured rating on IOI Investment’s medium-term note programme.\r\n\u003Cbr />\r\n\u003Cbr />At the same time, Moody’s has maintained a “stable” outlook on the ratings.\r\n\u003Cbr />\r\n\u003Cbr />Moody’s vice-president and senior analyst Maisam Hasnain said: “The ratings affirmation reflects our expectation that IOI Corp will maintain profitable operations while taking a prudent approach to investment and shareholder returns, such that they do not materially weaken the company’s credit profile.”\r\n\u003Cbr />\r\n\u003Cbr />Maisam said the proceeds from the proposed notes issuance will help IOI Corp alleviate refinancing risk associated with its notes due in June 2022, while allowing it to maintain strong liquidity.\r\n\u003Cbr />\r\n\u003Cbr />The report pointed out IOI Corp’s Baa2 ratings reflect its established position as an efficient palm oil producer with integrated operations across the palm oil value chain, its track record of managing profitability through multiple commodity price cycles, and its ability to benefit from favourable long-term demand for palm oil.\r\n\u003Cbr />\r\n\u003Cbr />Moody’s also expected IOI Corp to take a measured approach toward future investments such that its leverage does not exceed its downgrade trigger of 3.5 times.\r\n\u003Cbr />\r\n\u003Cbr />The rating agency noted the company has utilised only 17% of the RM960mil it had earmarked for investments, from the RM3.8bil it had received in asset sale proceeds in 2018.\r\n\u003Cbr />\r\n\u003Cbr />Moody’s said IOI Corp would likely use the proceeds to acquire brownfield plantation estates in Malaysia.\r\n\u003Cbr />\r\n\u003Cbr />“If IOI Corp has not identified a suitable target, it can extend the time frame to complete an investment beyond the current extended time frame of December 2022,” it added.\r\n\u003Cbr />\r\n\u003Cbr />IOI Corp is one of the leading global integrated and sustainable palm oil players.\r\n\u003Cbr />\r\n\u003Cbr />On Bursa Malaysia yesterday, shares of IOI Corp closed two sen lower at RM4.03 with 694,200 shares traded.\r\n\u003Cbr />\r\n\u003Cbr />This gave the group a market capitalisation of RM25.33bil.\u003Cbr />\u003C/div>",{"id":10,"name":11},[1562],{"id":14,"name":15},{"name":1536,"file_name":1536,"url":1564},"https://www.ioigroup.com/storage/665/rsz_organisational.jpg","2025-05-02T09:53:31.000000Z",[],{"meta_title":1557,"meta_description":1568,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR: IOI Corp Bhd’s unit IOI Investment (L) Bhd has announced plans to purchase its outstanding US$600mil (RM2....",{"id":1570,"title":1571,"date":1572,"body":1573,"source":1574,"type":1575,"image":1577,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1565,"created_at":1565,"content_type":24,"related_news":1580,"metatag":1581},838,"Moody's Affirms IOI Corp’s Baa2 Rating, Assigns Baa2 to Proposed US Dollar Notes","2021-10-18T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_ioip_001.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cdiv class=\"row\">\u003Cbr />\u003C/div>\u003Cdiv class=\"row\">KUALA LUMPUR (Oct 18): Moody's Investors Service has affirmed IOI Corp Bhd’s Baa2 issuer rating.\r\n\u003Cbr />\r\n\u003Cbr />In a statement on Monday, Moody’s has assigned the Baa2 backed senior unsecured bond rating to its subsidiary IOI Investment (L) Bhd, and the Baa2 backed senior unsecured bank credit facility rating to IOI Ventures (L) Bhd.\r\n\u003Cbr />\r\n\u003Cbr />Moody's has also affirmed the provisional (P) Baa2 backed senior unsecured rating on IOI Investment’s medium-term note (MTN) programme.At the same time, it has maintained a stable outlook on the ratings.\r\n\u003Cbr />\r\n\u003Cbr />Besides, Moody's has also assigned Baa2 backed senior unsecured rating to the proposed notes to be issued under IOI Investment's MTN programme.\r\n\u003Cbr />\r\n\u003Cbr />It added that the notes are unconditionally and irrevocably guaranteed by IOI and will rank pari passu (on equal footing) with all of the group’s senior unsecured obligations.\r\n\u003Cbr />\r\n\u003Cbr />"The ratings affirmation reflects our expectation that IOI will maintain profitable operations while taking a prudent approach to investment and shareholder returns, such that they do not materially weaken the company's credit profile,” according to Moody’s vice president and senior analyst Maisam Hasnain.\r\n\u003Cbr />\r\n\u003Cbr />Hasnain, who is also the lead analyst for IOI, said the proceeds from the proposed notes issuance will help the group to alleviate refinancing risk associated with its US$600 million notes due in June 2022, while allowing it to maintain strong liquidity.\r\n\u003Cbr />\r\n\u003Cbr />According to Moody’s, IOI's Baa2 ratings reflect its established position as an efficient palm oil producer with integrated operations across the palm oil value chain, its track record of managing profitability through multiple commodity price cycles, and its ability to benefit from favourable long-term demand for palm oil.\r\n\u003Cbr />\r\n\u003Cbr />It expects IOI's adjusted leverage — as measured by adjusted debt/earnings before interest, taxes, depreciation, and amortisation (EBITDA) — to decline to around 2.5 times over the next 12-18 months from 3.3 times for the fiscal year ended June 2021.\r\n\u003Cbr />\r\n\u003Cbr />This improvement, it noted, will be driven by earnings growth amid high crude palm oil (CPO) prices and debt reduction of around RM400 million-RM500 million with cash on hand.\r\n\u003Cbr />\r\n\u003Cbr />“Demand for IOI's palm oil products has remained solid despite the pandemic, and the company's operations have not been significantly disrupted by periodic movement control restrictions in Malaysia. In addition, the high CPO price has boosted earnings at IOI's plantations segment in recent quarters, despite lower CPO production amid heavy rainfall and a decline in mature planted hectarage as older trees were replanted.\r\n\u003Cbr />\r\n\u003Cbr />“Moody's also expects IOI to take a measured approach toward future investments such that its leverage does not exceed its downgrade trigger of 3.5x. The company has utilized only 17% of the RM960 million it had earmarked for investments, from the RM3.8 billion it had received in asset sale proceeds in 2018,” said Moody’s.\r\n\u003Cbr />\r\n\u003Cbr />Furthermore, it expects that IOI will likely use the proceeds to acquire brownfield plantation estates in Malaysia. If IOI has not identified a suitable target, it can extend the time frame to complete an investment beyond the current extended time frame of December 2022.\r\n\u003Cbr />\r\n\u003Cbr />At the same time, Moody’s said IOI's ratings incorporate its exposure to volatile palm oil prices, which can affect its credit metrics, and the increasing stakeholder scrutiny, including customers and lenders around environmental, social, and governance (ESG) risks associated with the palm oil sector.\r\n\u003Cbr />\r\n\u003Cbr />“IOI has strengthened its sustainability policies in recent years to mitigate environmental and social risks associated with palm oil production. These include committing to a policy of no deforestation, no development on peat, and no exploitation of workers, including a zero-recruitment-fee policy for migrant workers since 2017. IOI is also a founding member of the Roundtable on Sustainable Palm Oil (RSPO), an association of industry stakeholders that promotes the growth and use of sustainable palm oil products.\r\n\u003Cbr />\r\n\u003Cbr />“In terms of governance risks, Moody's has considered IOI's concentrated ownership, given that the founding Lee family owns a 50% stake in the company. This risk is somewhat mitigated by the oversight exercised through the presence of majority independent directors on the company's board, and by minority shareholders including Malaysia's Employees Provident Fund Trust, which owns a 13% stake in IOI.\r\n\u003Cbr />\r\n\u003Cbr />“IOI's inadequate liquidity position will improve considerably if the company is able to raise enough funds via the issuance of its proposed notes to eliminate near-term refinancing risk. This is because the company's cash balance and projected operating cash flow are currently insufficient to meet its cash needs over the next 12 months due to its large US$600 million notes maturity in June 2022,” it added.\r\n\u003Cbr />\r\n\u003Cbr />At noon break, shares of IOI Corp were traded at RM4.04, declining by one sen or 0.25% with some 472,900 shares done. This gave the group a market capitalisation of RM25.39 billion.\u003Cbr />\u003C/div>",{"id":1273,"name":1274},[1576],{"id":14,"name":15},{"name":1578,"file_name":1578,"url":1579},"rsz_ioip_001.jpg","https://www.ioigroup.com/storage/666/rsz_ioip_001.jpg",[],{"meta_title":1571,"meta_description":1582,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR (Oct 18): Moody's Investors Service has affirmed IOI Corp Bhd’s Baa2 issuer rating. In a statement on Monda...",{"id":1584,"title":1585,"date":1586,"body":1587,"source":1588,"type":1589,"image":1591,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1565,"created_at":1565,"content_type":24,"related_news":1594,"metatag":1595},836,"IOI Corp Expects Stable FFB Production in 2022 on Higher Production","2021-09-27T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/AR21.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />KUALA LUMPUR (Sept 27): IOI Corp Bhd expects the fresh fruit bunch (FFB) production to be stable next year as the higher production from young palm trees at its Indonesian plantations offsets the production loss from its accelerated replanting programme in Sabah, according to its group managing director and chief executive officer Datuk Lee Yeow Chor.\r\n\u003Cbr />\r\n\u003Cbr />In his key messages on the group's 2021 annual report, Lee said it also has accelerated its mechanisation programme in various field operations to alleviate the worker shortage challenge in the group's estates.\r\n\u003Cbr />\r\n\u003Cbr />"Overall, with the anticipated strong crude palm oil (CPO) price during the first half of FY22 (financial year 2022), we expect the plantation segment to continue to perform well in the new financial year."The Malaysian refinery industry margin continues to be affected by the high palm oil price and the higher CPO export duty in Indonesia giving Indonesian refiners a more competitive cost advantage.\r\n\u003Cbr />\r\n\u003Cbr />"However, our refining subsegment is expected to perform satisfactorily in the new financial year with the efficient cost structure and varied product portfolio in our Sandakan refinery complex," he said.\r\n\u003Cbr />\r\n\u003Cbr />Meanwhile, it also expects its overall financial performance in FY22 to be better than in FY21, underpinned by the strong performance from its plantation segment as a result of the high CPO price and the improved performance from its resource-based manufacturing segment.\r\n\u003Cbr />\r\n\u003Cbr />For the full FY21 ended June 30, 2021, the group's net profit more than doubled to RM1.39 billion from RM600.9 million reported in FY19 while annual revenue grew by 44.21% to RM11.25 billion against RM7.8 billion in FY19.\r\n\u003Cbr />\r\n\u003Cbr />Lee added that the group initiated a five-year plan recently to transform the group from a cost-competitive palm oil producer to a high value-added diversified palm-based products producer.\r\n\u003Cbr />\r\n\u003Cbr />Its five strategic priorities include increasing yield, optimising the workforce, diversifying crops, increasing the non-CPO segment and grow the oleochemical segment.\r\n\u003Cbr />\r\n\u003Cbr />"These exciting developments will bode well for the group in the near to medium term," he stressed.\r\n\u003Cbr />\r\n\u003Cbr />At 4.30pm, shares in IOI Corp traded two sen or 0.53% higher at RM3.77, giving it a market value of RM23.7 billion. It saw 985,000 shares changing hands.\r\n\u003Cbr />\r\n\u003Cbr />Since the beginning of the year, the stock has fallen by 14.9% from a peak of RM4.64 recorded in January.\u003C/p>\u003Cp>To view our Annual, Sustainability and Financial Reports, click \u003Ca href=\"https://www.ioigroup.com/Content/IR/IR_Reports\" target=\"_blank\">here\u003C/a>.\u003C/p>\u003C/div>",{"id":1273,"name":1274},[1590],{"id":14,"name":15},{"name":1592,"file_name":1592,"url":1593},"ar21.jpg","https://www.ioigroup.com/storage/664/ar21.jpg",[],{"meta_title":1585,"meta_description":1596,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR (Sept 27): IOI Corp Bhd expects the fresh fruit bunch (FFB) production to be stable next year as the higher...",{"id":1598,"title":1599,"date":1600,"body":1601,"source":1602,"type":1603,"image":1605,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1607,"created_at":1607,"content_type":24,"related_news":1608,"metatag":1609},834,"IOI Corp Expects Plantation Segment to Drive FY22 Growth","2021-08-24T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_1a_estate(1).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cbr />\u003Cp>KUALA LUMPUR: Higher palm oil prices boosted IOI Corp Bhd's earnings in the last quarter ended June 30 (Q4FY21) and the company expects a challenging operating environment to support the current price trend.\r\n\u003Cbr />\r\n\u003Cbr />"With the anticipated strong crude palm oil (CPO) price during the first half of FY22, we expect the plantation segment to continue to perform well in the new financial year," IOI Corp said in a filing today.\r\n\u003Cbr />\r\n\u003Cbr />The planter posted a net profit of RM359mil on revenue of RM3.46bil in the final quarter to lift its full-year earnings to RM1.39bil on sales of RM11.25bil.\r\n\u003Cbr />\r\n\u003Cbr />It has declared a second interim dividend of 6 sen a share. The group's plantation segment reported a profit of RM410mil in the final quarter, or 75% higher from RM234mil made a year ago. This was achieved mainly due to a higher average CPO price of RM3,648 a tonne (Q4FY20: RM2,370) and palm kernel price at RM2,656 a tonne (Q4FY20; RM1,349). The gains were offset by lower fresh fruit bunch (FFB) production.\u003C/p>\u003Cp>CPO prices remained high in August, hovering between RM4,300 and RM4,500 a tonne, supported by supply concerns.\u003C/p>Stockpile in the country was also low at 1.5 million tonnes as at end of July due to lower FFB output.\r\n\u003Cbr />\r\n\u003Cbr />IOI Corp expects the group's FFB production to be stable in FY22, as higher production in Indonesia would offset output losses from its estates in Sabah due to the accelerated replanting programme.\r\n\u003Cbr />\r\n\u003Cbr />Meanwhile, IOI Corp expects the manufacturing division to post satisfactory results in FY22.\r\n\u003Cbr />\r\n\u003Cbr />Volatile CPO prices have an impact on refining profitability, while its oleochemical business would see thinner margins due to higher feedstock prices.\r\n\u003Cbr />\r\n\u003Cbr />The group expects overall financial performance in the new financial year to be better than the previous year, underpinned by the strong performance from our plantation segment," IOI Corp said.",{"id":10,"name":11},[1604],{"id":14,"name":15},{"name":910,"file_name":910,"url":1606},"https://www.ioigroup.com/storage/662/rsz_1a_estate1.jpg","2025-05-02T09:53:29.000000Z",[],{"meta_title":1599,"meta_description":1610,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR: Higher palm oil prices boosted IOI Corp Bhd's earnings in the last quarter ended June 30 (Q4FY21) and the...",{"id":1612,"title":1613,"date":1600,"body":1614,"source":1615,"type":1616,"image":1618,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1621,"created_at":1621,"content_type":24,"related_news":1622,"metatag":1623},835,"IOI Corp 4QFY21 Profit Jumps 51% to RM359m Y-o-Y, Declares Six Sen Dividend","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_pmn_039a.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />KUALA LUMPUR (Aug 24): IOI Corp Bhd's net profit for the fourth financial quarter ended June 30, 2021 (4QFY21) leapt 50.82% to RM359.4 million from RM238.3 million a year ago, mainly due to higher contributions from plantation and resource-based manufacturing segments.\r\n\u003Cbr />\r\n\u003Cbr />This led to higher earnings per share of 5.74 sen in 4QFY21 versus 3.80 sen a year ago, the company said in a bourse filing.\r\n\u003Cbr />\r\n\u003Cbr />Quarterly revenue ballooned nearly 70% to RM3.46 billion year-on-year (y-o-y) from RM2.04 billion.\u003C/p>\u003Cp>IOI Corp declared a second interim dividend of six sen per share, to be paid on Oct 5, 2021.\r\n\u003Cbr />\r\n\u003Cbr />Moving forward, IOI Corp expects its overall financial performance in the financial year ending June 30, 2022 (FY22) to be better underpinned by the strong performance from its plantation segment.\r\n\u003Cbr />\r\n\u003Cbr />The group said the plantation segment profit for 4QFY21 grew 75% to RM409.8 million from RM234.2 million the year before, mainly driven by higher crude palm oil (CPO) and palm kernel (PK) prices realised, partly offset by lower fresh fruit bunch (FFB) production.\r\n\u003Cbr />\r\n\u003Cbr />"Average CPO and PK prices realised for 4QFY21 were RM3,648/mt (4QFY20: RM2,370/mt) and RM2,656/mt (4QFY20: RM1,349/mt) respectively," said the group.\r\n\u003Cbr />\r\n\u003Cbr />Meanwhile, the resource-based manufacturing segment's profit jumped 66% to RM165 million compared with RM99.6 million in 4QFY20.\u003C/p>Excluding the fair value gain on derivative financial instruments of RM71.4 million (4QFY20: RM12.9 million), IOI Corp said the resource-based manufacturing segment reported an underlying profit of RM93.6 million for 4QFY21 compared with RM86.7 million for 4QFY20.\r\n\u003Cbr />\r\n\u003Cbr />"The higher profit was due mainly to a higher share of results from our specialty fats associated with Loders. The refining subsegment reported a decrease in contribution with lower margins. This was however cushioned by higher contribution from the oleochemical subsegment," said IOI Corp.\r\n\u003Cbr />\r\n\u003Cbr />On a quarterly basis, net profit fell 10.44% from RM401.3 million on lower contribution from resource-based manufacturing mitigated by higher contribution from plantation segment, despite higher revenue. Revenue grew almost 21% from RM2.86 billion in 3QFY21.\r\n\u003Cbr />\r\n\u003Cbr />For FY21, IOI Corp's cumulative net profit surged 132% to RM1.39 billion from RM600.9 million. Annual revenue climbed 44.22% to RM11.25 billion from RM7.8 billion a year earlier.\r\n\u003Cbr />\r\n\u003Cbr />On its prospects, the group said the FFB production for its plantation segment is expected to be stable in FY22, as the higher production from young palm trees at its Indonesian plantations will offset the production loss from the group's accelerated replanting programme in Sabah.\r\n\u003Cbr />\r\n\u003Cbr />"As for the oleochemical subsegment within the resource-based manufacturing segment, the stronger-than-anticipated palm feedstock price will moderate the product margin, although the price of palm kernel oil, the main raw material for our oleochemical subsegment, has not increased as much as the price of palm stearin.\r\n\u003Cbr />\r\n\u003Cbr />The new fatty acid and soap noodle plants which will come on stream in 3Q and 4Q of FY22 respectively are expected to contribute to the subsegment's overall sales volume and margin growth in the future, although the contribution to profit in FY22 will be minimal.\r\n\u003Cbr />\r\n\u003Cbr />"For the specialty fats subsegment comprising our associate company, Bunge Loders Croklaan, better performance is expected for FY22 with the normalisation of the economy and social activities in Europe coupled with the strong economic performance in US and China," the group said.\r\n\u003Cbr />\r\n\u003Cbr />Shares of IOI Corp rose 3.73% or 14 sen to close at RM3.89, with some 2.09 million shares done. The company's market capitalisation stood at RM24.45 billion. The stock has fallen 12.2% year-to-date from when it was trading at RM4.43 apiece.",{"id":1273,"name":1274},[1617],{"id":14,"name":15},{"name":1619,"file_name":1619,"url":1620},"rsz_pmn_039a.jpg","https://www.ioigroup.com/storage/663/rsz_pmn_039a.jpg","2025-05-02T09:53:30.000000Z",[],{"meta_title":1613,"meta_description":1624,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR (Aug 24): IOI Corp Bhd's net profit for the fourth financial quarter ended June 30, 2021 (4QFY21) leapt 50....",{"id":1626,"title":1627,"date":1628,"body":1629,"source":1630,"type":1631,"image":1633,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1607,"created_at":1607,"content_type":24,"related_news":1636,"metatag":1637},833,"Standing Together In Solidarity","2021-07-21T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/vlcsnap-2021-07-06-09h59m46s788.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n    \u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />After more than a year of battling the Covid-19 pandemic, the renewed wave of infections continues to overload our healthcare resources and intensive care capacity in the hospitals. Malaysia’s main Covid-19 facility, Selangor-based Sungai Buloh Hospital, which accepts Stage Four and Five patients or complex Covid-19 cases, is almost full and requires much-needed supplies and equipment.\u003Cbr />\u003Cbr />During these challenging times, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) is always committed to extending a helping hand. IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) Executive Director Datin Joanne Wong \u003Cem>(third from left in top pic)\u003C/em> visited the hospital on 11 June 2021 to contribute life-saving medical equipment worth RM100,000 to Sungai Buloh Hospital Director Dr Kuldip Kaur \u003Cem>(fourth from left in top \u003C/em>\u003Cem>pic)\u003C/em>. The equipment consisted of two units of central patient monitoring systems, four units of oxygen ventilators, and 50 units of medical beds.\u003Cbr />\u003Cbr />The donation supports Taiwan Buddhist Tzu-Chi Foundation Malaysia’s (Tzu-Chi) Solidarity Fund, which was set up in response to the urgent needs of our public hospitals and healthcare professionals who are battling Covid-19 on the frontlines.\u003Cbr />\u003Cbr />\r\n\r\n\u003C/p>\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/vlcsnap-2021-07-06-09h57m25s320.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n    \u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div> \u003Cp>\u003Cbr />\u003C/p>",{"id":1002,"name":1003},[1632],{"id":241,"name":564},{"name":1634,"file_name":1634,"url":1635},"vlcsnap_2021_07_06_09h59m46s788.jpg","https://www.ioigroup.com/storage/661/vlcsnap_2021_07_06_09h59m46s788.jpg",[],{"meta_title":1627,"meta_description":1638,"meta_keywords":28},"(File pic by IOI Corporation).After more than a year of battling the Covid-19 pandemic, the renewed wave of infections continues to overload our healt...",{"id":1640,"title":1641,"date":1642,"body":1643,"source":1644,"type":1645,"image":1647,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1649,"created_at":1649,"content_type":24,"related_news":1650,"metatag":1651},831,"IOI Posts Q3 Net Profit of RM401.3mil","2021-05-21T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_img_9915(1).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />\r\n\r\nKUALA LUMPUR: IOI Corp Bhd posted a net profit of RM401.3mil for the third quarter ended March 31, 2021, versus just RM100,000 in the previous corresponding quarter due mainly to a one-off gain from the sale of its associate's refinery and narrower forex losses.\r\n\u003Cbr />\r\n\u003Cbr />Revenue for the quarter under review was RM2.86bil, 40.62% higher from RM2.03bil in the comparative quarter.\r\n\u003Cbr />\r\n\u003Cbr />In a filing with Bursa Malaysia, IOI said the group posted a total net foreign currency translation loss of RM38.4mil versus RM236.4mil in the year-ago quarter.\u003C/p>\u003Cp>In its business segments, resource-based manufacturing posted a 271% higher profit of RM442.2mil in the current quarter versus Q3FY20.\u003C/p>\u003Cp>The main contribution to the higher earnings was a one-off gain of RM267.9mil from the disposal of Bunge Loders Craklaan's refinery in Rotterdam.\r\n\u003Cbr />\r\n\u003Cbr />In addition, there was higher contribution from the oleochemical sub-segment due to higher sales volume, partially offset by lower contribution from the refining sub-segment.\r\n\u003Cbr />\r\n\u003Cbr />Meanwhile, the plantation segment posted profit of RM185.9mil, which was 12% higher year-on-year due to the higher crude palm oil and palm kernel prices, partially offset by lower fresh fruit bunch production.\r\n\u003Cbr />\r\n\u003Cbr />Moving forward, the group said its plantation segment is expected to recover in Q4FY21 in anticipation of the continued strength of CPO prices.\r\n\u003Cbr />\r\n\u003Cbr />For resource-based manufacturing, the refinery and commodity market as well as the oleochemical sub-segments are expected to be affected by the high palm oil and palm kernel oil prices.\r\n\u003Cbr />\r\n\u003Cbr />Bunge Loders Croklaan is expected to perform better in Q4FY20 in the specialty fats segment due to the continued strong performance in North America and the improvement of the Covid situation in Europe.\r\n\u003Cbr />\r\n\u003Cbr />"Overall, the Group anticipates its overall financial performance for Q4 FY2021 to remain good, supported by high CPO price and increase in crop production from the plantation segment as well as the expected demand improvement in the resource-based manufacturing segment as the global economy recovers gradually," said IOI.\u003Cbr />\u003C/p>",{"id":10,"name":11},[1646],{"id":14,"name":15},{"name":958,"file_name":958,"url":1648},"https://www.ioigroup.com/storage/659/rsz_img_99151.jpg","2025-05-02T09:53:28.000000Z",[],{"meta_title":1641,"meta_description":1652,"meta_keywords":28},"(File pic by IOI Corporation). KUALA LUMPUR: IOI Corp Bhd posted a net profit of RM401.3mil for the third quarter ended March 31, 2021, versus just RM...",{"id":1654,"title":1655,"date":1642,"body":1656,"source":1657,"type":1658,"image":1660,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1607,"created_at":1607,"content_type":24,"related_news":1663,"metatag":1664},832,"IOI Corp 3Q Net Profit Soars to RM401m, Partly Boosted by Divestment Gain","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/Resized01(2).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />KUALA LUMPUR (May 21): IOI Corp Bhd's net profit skyrocketed to RM401.3 million in its latest financial quarter ended March 31, 2021 (3QFY21), from RM100,000 in the corresponding financial quarter last year.\r\n\u003Cbr />\r\n\u003Cbr />In a bourse filing, the group said the oil palm plantation segment generated profit of RM185.9 million in 3QFY21, 12% higher versus RM165.4 million a year ago amid higher crude palm oil (CPO) and palm kernel (PK) prices.\r\n\u003Cbr />\r\n\u003Cbr />Average CPO and PK prices in 3QFY21 were RM3,211 and RM2,616 respectively, up from the RM2,704 and RM1,688 achieved last year.\u003C/p>Meanwhile, earnings from the resource-based manufacturing segment more than tripled to RM442.2 million in 3QFY21 from RM119.1 million in 3QFY20.\r\n\u003Cbr />\r\n\u003Cbr />It noted that excluding RM43.4 million fair value gain on derivative financial instruments, the earnings from the manufacturing segment would have been RM398.8 million, from RM31.7 million last year.\r\n\u003Cbr />\r\n\u003Cbr />The higher earnings in the segment were due to a higher share of results from its speciality fats associate from Bunge Loders Croklaan Group BV. The large segmental profit included a share of a one-off gain of RM267.9 million from the sale of its refinery located in Rotterdam, on top of better performance across all regions.\r\n\u003Cbr />\r\n\u003Cbr />Its quarterly revenue grew by 41% to RM2.86 billion, from RM2.03 billion last year.\r\n\u003Cbr />\r\n\u003Cbr />It did not declare any dividends for the quarter under review. So far, IOI Corp has declared dividends of 4.5 sen per share for the nine months ended March 31, 2021 (9MFY21), compared to four sen in the corresponding period last financial year.\r\n\u003Cbr />\r\n\u003Cbr />On a quarter-on-quarter (q-o-q) basis, IOI saw its net profit increase by 12.8% from RM355.7 million. Revenue also expanded by 16.5% q-o-q from RM2.45 billion.\r\n\u003Cbr />\r\n\u003Cbr />Its cumulative net profit for 9MFY21 surged by 185% year-on-year (y-o-y) to RM1.03 billion from RM362.6 million. Cumulative revenue expanded by 35% y-o-y to RM7.79 billion from RM5.76 billion.\r\n\u003Cbr />\r\n\u003Cbr />",{"id":1273,"name":1274},[1659],{"id":14,"name":15},{"name":1661,"file_name":1661,"url":1662},"resized012.jpg","https://www.ioigroup.com/storage/660/resized012.jpg",[],{"meta_title":1655,"meta_description":1665,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR (May 21): IOI Corp Bhd's net profit skyrocketed to RM401.3 million in its latest financial quarter ended Ma...",{"id":1667,"title":1668,"date":1669,"body":1670,"source":1671,"type":1672,"image":1674,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1649,"created_at":1649,"content_type":24,"related_news":1677,"metatag":1678},830,"IOI Pan Century Oleochemicals wins Challenge Trophy at PMHA","2021-02-25T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/1%20Challenge%20Trophy_Pan%20Cen.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\r\n\r\n\u003Cbr />\r\n\u003Cp>KUALA LUMPUR: IOI Pan Century Oleochemicals Sdn Bhd (Pasir Gudang Johor) today bagged the Challenge Trophy in the 2019/20 Prime Minister's Hibiscus Awards (PMHA) out of the 72 private sector companies participating.\r\n\u003Cbr />\r\n\u003Cbr />The company also won the Excellent Achievement Category in Environmental Performance along with Hengyuan Refining Company Bhd (Port Dickson, Negeri Sembilan), Petronas Gas Bhd (Gas Processing Kerteh), Terengganu, Petronas Carigali Sdn Bhd (Terengganu Crude Oil Terminal), Petronas Gas Bhd (Utilities Gebeng) and Petronas Chemical Ammonia Sdn Bhd (Kemaman, Terengganu).\r\n\u003Cbr />\r\n\u003Cbr />For the SME (Small and medium enterprise) Award, PMHA in a statement said Nets Printwork Sdn Bhd returned as the winner for the category.\r\n\u003Cbr />\r\n\u003Cbr />The awards were presented by Prime Minister Tan Sri Muhyiddin Yassin in a virtual presentation ceremony held this evening on the PMHA's official Facebook page.\u003C/p>\u003Cp>"PMHA is the country's premier environmental awards that recognises environmental accomplishment and leadership.\r\n\u003Cbr />\r\n\u003Cbr />"The award also serves to create environmental awareness amongst enterprises that have yet to demonstrate stewardship and identify areas for improvement in environmental management," the statement read.\u003C/p>\u003Cp>In the State Awards Category, the Winners are IOI Pan Century Oleochemicals Sdn Bhd (Johor), F&N Dairies Manufacturing Sdn Bhd (Selangor), Intel Technology Sdn Bhd (Penang), joint winners Hengyuan Refining Company Bhd and Sime Darby Plantation Bhd (Negeri Sembilan) and Petronas Gas Bhd - Regasification Terminal Sg. Udang (Melaka).\u003C/p>\u003Cp>The Special Project Award winners were CCM Chemicals Sdn Bhd (Gold recipient), Petronas Chemical Ammonia Sdn Bhd (Silver recipient) and Petronas Penapisan Terengganu Sdn Bhd (Bronze recipient) for showcasing the best environmental project in line with this cycle's theme "Combating Climate Change: Focusing Energy Efficiency".\r\n\u003Cbr />\r\n\u003Cbr />The biennial award is jointly organised by three of Malaysia's non-profit organisations focusing on corporate environmental responsibility, namely, the Environmental Management and Research Association of Malaysia (Ensearch), Federation of Malaysian Manufacturers (FMM) and Malaysian International Chamber of Commerce and Industry (MICCI).\r\n\u003Cbr />\r\n\u003Cbr />The award is fully supported by the Environment and Water Ministry as well as the Environment Department, according to the statement.\u003C/p>\u003Cdiv class=\"row\">    \r\n    \u003Cdiv class=\"col-md-6\">\r\n    \u003Cimg style=\"width:100%;\" alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/2%20State%20Award%20Recipients_Pan%20Cen.jpg\" />\u003Cdiv style=\"font-size: 10pt; line-height: normal; text-align:center; \">\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\r\n        \r\n\r\n    \u003Cdiv class=\"col-md-6\">\r\n     \u003Cimg style=\"width:100%;\" alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/3%20Excellent%20Award_Pan%20Cen.jpg\" />\u003Cdiv style=\"font-size: 10pt; line-height: normal; text-align:center;\">\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\r\n     \u003C/div>",{"id":53,"name":54},[1673],{"id":14,"name":15},{"name":1675,"file_name":1675,"url":1676},"1_challenge_trophy_pan_cen.jpg","https://www.ioigroup.com/storage/658/1_challenge_trophy_pan_cen.jpg",[],{"meta_title":1668,"meta_description":1679,"meta_keywords":28},"(File pic by IOI Corporation). KUALA LUMPUR: IOI Pan Century Oleochemicals Sdn Bhd (Pasir Gudang Johor) today bagged the Challenge Trophy in the 2019/...",{"id":1681,"title":1682,"date":1683,"body":1684,"source":1685,"type":1686,"image":1688,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1691,"created_at":1691,"content_type":24,"related_news":1692,"metatag":1693},829,"IOI Records Jump in 2Q Net Profit to RM355.7mil","2021-02-23T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_plantation_main(2).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />\r\n\r\nKUALA LUMPUR: IOI Corp Bhd posted a 66% jump in net profit in the second quarter ended Dec 31, 2020, to RM355.7mil from RM213.5mil in the previous corresponding quarter on the back of higher contribution from the plantations segment.\r\n\u003Cbr />\r\n\u003Cbr />Revenue was up 25.55% to RM2.45bil from RM1.96bil in the comparative quarter.\r\n\u003Cbr />\r\n\u003Cbr />The board of directors declared a first interim dividend of 4.5 sen per share, payable on March 19, 2021.\u003C/p>\u003Cp>In 2Q, the plantations segment posted a 94% higher profit of RM340.3mil from RM175.3mil in the previous corresponding quarter due to higher crude palm oil (CPO) and palm kernel (PK) prices as well as a higher share of associate results.\u003C/p>\u003Cp>In the resource-based manufacturing segment, profit for the quarter fell 29% to RM21.2mil from RM29.9mil a year earlier due to lower contribution from the oleochemical sub-segment with lower margins.\r\n\u003Cbr />\r\n\u003Cbr />The share of results from specialty fats associate Bunge Loders Croklaan Group BV was also lower due to weaker performances in Europe and Asia arising from the Covid-19 pandemic.\r\n\u003Cbr />\r\n\u003Cbr />Over the first half of the financial year, IOI's net profit surged to RM633.6mil, 74.8% higher year-on-year (y-o-y) as compared to RM362.5mil in the first half of the previous financial year.\r\n\u003Cbr />\r\n\u003Cbr />Cumulative revenue over the two quarters was also higher, at RM4.93bil versus RM3.73bil in the previous corresponding period.\r\n\u003Cbr />\r\n\u003Cbr />Moving forward, IOI expects the high price trend of CPO to be sustained at least until April 2021 due to low palm oil stock and the high price of competitive vegetable oils.\r\n\u003Cbr />\r\n\u003Cbr />"Thereafter, CPO price may moderate from this high price level as palm crop production recovers from the seasonal low trend and the impact of heavy rain in both Malaysia and Indonesia during January and February this year," it said.\r\n\u003Cbr />\r\n\u003Cbr />On the back of the high CPO prices, IOI expects its plantation segment to perform well over the remaining two-quarters of FY21.\r\n\u003Cbr />\r\n\u003Cbr />"Overall, the Group anticipates its overall financial performance for the remaining periods of FY2021 to be good, with strong performance from the plantation segment partly offset by weaker performance from the resource-based manufacturing segment," it said.\u003Cbr />\u003C/p>",{"id":10,"name":11},[1687],{"id":14,"name":15},{"name":1689,"file_name":1689,"url":1690},"rsz_plantation_main2.jpg","https://www.ioigroup.com/storage/657/rsz_plantation_main2.jpg","2025-05-02T09:53:27.000000Z",[],{"meta_title":1682,"meta_description":1694,"meta_keywords":28},"(File pic by IOI Corporation). KUALA LUMPUR: IOI Corp Bhd posted a 66% jump in net profit in the second quarter ended Dec 31, 2020, to RM355.7mil from...",{"id":1696,"title":1697,"date":1698,"body":1699,"source":1700,"type":1703,"image":1705,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1708,"created_at":1708,"content_type":24,"related_news":1709,"metatag":1710},825,"Palm Oil Industry Needs to Collaborate with Seed Oil Producers for Sustainability, says IOI Corp Group MD","2021-01-06T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_img_9915.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>IOI Corporation Bhd group MD and CEO Datuk Lee Yeow Chor said the seed oil sector is also equally important for the socio-economic development of a country, similarly in the same way that palm oil has been important for Malaysia and Asia. (File pic by IOI Corporation)\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />\u003C/p>\u003Cp>KUALA LUMPUR, Jan 6 — It is prime for the palm oil industry to collaborate more comprehensively with competing seed oil producers, offering a multi-oils solution as a way for a sustainable industry in post-pandemic.\r\n\u003Cbr />\r\n\u003Cbr />IOI Corporation Bhd group managing director and chief executive officer Datuk Lee Yeow Chor said the seed oil sector is also equally important for the socio-economic development of a country, similarly in the same way that palm oil has been important for Malaysia and Asia.\r\n\u003Cbr />\r\n\u003Cbr />“Innovations keep coming in, so having a multi-oils solution will create a sustainable business as different food applications require different fats composition,” he said during the second day of the virtual Malaysian Palm Oil Trade Fair and Seminar 2021 (POTS Digital 2021), today.\r\n\u003Cbr />\r\n\u003Cbr />Besides that, he opined that the industry should also regionalise commodity-based palm oil trade, especially the cooking oil since the Covid-19 pandemic highlighted the risk to long supply chain and implication on food security.\u003C/p>He said the strategy would also fit with the population distribution between the underdeveloped and emerging countries, as well as the developed countries.\r\n\u003Cbr />\u003Cbr />“We also could develop special applications of palm oil for high-value products for hygiene, pharmaceutical and renewable fuel while making the palm oil’s competitive position more secure and sustainable in the long run,” he added.\r\n\u003Cbr />\r\n\u003Cbr />PBB Oil Palms Bhd executive director and Wilmar International Ltd chief sustainability officer Jeremy Goon said sustainability palm oil is the key to access lucrative global markets, multi-national customers and brands with bigger investors, especially in post- Covid-19 pandemic.\r\n\u003Cbr />\r\n\u003Cbr />“We need to figure out a proper sustainable business plan, especially in terms of meeting transparency, as well as the International Organisation for Standardisation (ISO) and Roundtable on Sustainable Palm Oil (RSPO) standards or else the business might only end up in local markets,” he said.\r\n\u003Cbr />\r\n\u003Cbr />On the recent ban by the United States (US) Customs and Border Protection (CBP), he hopes the new administration of President-elect Joe Biden, which is expected to take over the White House on January 20, would give an appropriate view in addressing the action taken.\r\n\u003Cbr />\r\n\u003Cbr />The US CBP had issued a Withhold Release Order (WRO) on palm oil and products containing palm oil produced by Sime Darby Plantation Bhd and its subsidiaries, joint ventures, and affiliated entities, allowing it to detain shipments based on alleged forced labour involvement. — Bernama",{"id":1701,"name":1702},18,"Malay Mail",[1704],{"id":14,"name":15},{"name":1706,"file_name":1706,"url":1707},"rsz_img_9915.jpg","https://www.ioigroup.com/storage/654/rsz_img_9915.jpg","2025-05-02T09:53:26.000000Z",[],{"meta_title":1697,"meta_description":1711,"meta_keywords":28},"IOI Corporation Bhd group MD and CEO Datuk Lee Yeow Chor said the seed oil sector is also equally important for the socio-economic development of a co...",{"id":1713,"title":1714,"date":1698,"body":1715,"source":1716,"type":1717,"image":1719,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1708,"created_at":1708,"content_type":24,"related_news":1722,"metatag":1723},826,"IOI Corp Chief Calls for Collaborations to Offer Multi-Oil Solutions","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/20210107_105124.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\u003Cp>\u003Cbr />\u003C/p>\u003Cp>KUALA LUMPUR (Jan 6): Palm oil companies need to collaborate with competing oilseed producers, in order to offer multi-oils solutions, according to IOI Corp Bhd Managing Director (MD) and Chief Executive Officer (CEO) Datuk Lee Yeow Chor \u003Cem>(pictured)\u003C/em>.\r\n\u003Cbr />\r\n\u003Cbr />Lee, who was speaking at the CEO Forum at the Palm Oil Trade Fair and Seminar 2021 (POTS 2021), highlighted those other oilseed sectors are also important to the countries where they are produced, and that different food applications require different fats compositions.\r\n\u003Cbr />\r\n\u003Cbr />“This ultimately leads to two important outcomes. This allows the industry to navigate nationalistic sentiment against other imported oils, while marketing different fractions according to use and purpose,” said Lee.\u003C/p>Lee also advocated for the regionalisation of commodity-based palm oil trade, as the Covid-19 pandemic has highlighted risks when it comes to long supply chains with food security implications.\r\n\u003Cbr />\r\n\u003Cbr />He opined that it is not feasible to ship massive volumes of palm oil across continents and into inland areas.\r\n\u003Cbr />\r\n\u003Cbr />For example, he said it takes six weeks for palm oil leaving a Malaysian port to reach a food processing plant in Chicago, USA.\r\n\u003Cbr />\r\n\u003Cbr />At the same time, due to palm oil’s melting point, there is a constant heating and cooling of the palm oil that is being shipped, which ultimately impacts the quality of the oil in question.\r\n\u003Cbr />\r\n\u003Cbr />Not to mention, cost-wise, total shipping and inland transport costs can amount to US$120 per tonne or 20% of the average price of palm oil in Malaysia, Lee elucidated.\r\n\u003Cbr />\r\n\u003Cbr />“The difference in approach is whether the palm oil industry wants to take the market share of seed oils in other Western countries, or we concentrate and increase the market share of palm oil in palm oil-producing countries and the surrounding regions, which are typically less developed or emerging countries.\r\n\u003Cbr />\r\n\u003Cbr />"I would argue that the former approach, where you ship palm oil over a long distance to attack competing vegetable oils, can be said to be value-destroying,” he said.\r\n\u003Cbr />\r\n\u003Cbr />He added that the strategy of focusing on palm oil-producing countries and their neighbours is congruent with the population distribution of under developed and emerging economies and developed countries, where the underdeveloped or emerging countries occupy 60% of global population.\r\n\u003Cbr />\r\n\u003Cbr />Lee also opined that special applications and purposes can be developed for smaller volumes of palm oil.\r\nHe elaborated this is because the total logistics costs are lower, but the unit per tonne cost of transporting the oil are high, and as such, high-value products have to be developed.\r\n\u003Cbr />\r\n\u003Cbr />“I can think of a few examples where palm oil can be turned into high-value products. On the oleochemicals side, it can be applied to the hygiene sector, the pharmaceutical sector and as a renewable fuel.\r\n\u003Cbr />\r\n\u003Cbr />"When it comes to renewable fuels, it would be very targeted, I do not advocate us shipping large volumes of palm biodiesel to the US or Europe. But rather, in Asian economies such as China, Japan and Korea, they have already placed carbon neutral targets by 2050, so the use of renewable fuels will help to achieve these carbon neutral targets,” he said.\r\n\u003Cbr />\r\n\u003Cbr />As such, these three solutions would address the “what-to, where-to and how-to” aspects of palm oil’s participation in the global vegetable oil market, and thus make palm oil’s competitive position more secure and sustainable in the long term.",{"id":1273,"name":1274},[1718],{"id":14,"name":15},{"name":1720,"file_name":1720,"url":1721},"20210107_105124.jpg","https://www.ioigroup.com/storage/655/20210107_105124.jpg",[],{"meta_title":1714,"meta_description":1724,"meta_keywords":28},"(File pic by IOI Corporation).KUALA LUMPUR (Jan 6): Palm oil companies need to collaborate with competing oilseed producers, in order to offer multi-o...",{"id":1726,"title":1727,"date":1698,"body":1728,"source":1729,"type":1730,"image":1732,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1708,"created_at":1708,"content_type":24,"related_news":1735,"metatag":1736},827,"Sustainability The Key Mantra for Palm Oil Industry","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_1a_estate.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\r\n    \u003Cp>\u003Cbr />\u003C/p>KUALA LUMPUR: Amidst the continued allegations premised on the sustainability of the palm oil industry arising mostly from nationalistic sentiment to protect their edible oils industry, palm oil producers acknowledged that the sustainability issue cannot be ignored and they have to level up their game for the longer term.\r\n\u003Cbr />\r\n\u003Cbr />But while most agreed to the notion, some believed that instead of addressing the issues in the west where the “noise” came from, the palm oil industry should just focus on its neighbouring market – China and India.\r\n\u003Cbr />\r\n\u003Cbr />“About 40 percent of the world’s edible oil market come from China and India where sustainability is perhaps not a big issue.\r\n\u003Cbr />\r\n\u003Cbr />“We are still not as strong as the western world and therefore I believe that these countries (China and India) should be properly taken care of...to promote this wonder oil,” Solvent Extractors’ Association of India president Atul Chaturvedi said on the second day of the virtual Malaysian Palm Oil Trade Fair and Seminar 2021 (POTS Digital 2021) organised by the Malaysian Palm Oil Council (MPOC).\u003Cp>He was one of the speakers at the four-day event which began on Jan 5, themed: “Malaysian Palm Oil - Forging Ahead in the New Norm.”\r\n\u003Cbr />\r\n\u003Cbr />Chaturvedi urged Malaysia and Indonesia, the world’s top two palm oil producers, to educate India about the goodness of palm oil.\r\n\u003Cbr />\r\n\u003Cbr />Another speaker, Vimal Shah, chairman of Bidco Group, said besides looking east (China and India), the industry should also look at the African continent.\u003C/p>\u003Cp>“We need to have partnerships and collaborations on a large scale and to look at the longer term. The oil palm originally came from Africa. It was taken to Malaysia where it was planted commercially, but it needs to be brought back to Africa,” he said.\r\n\u003Cbr />\r\n\u003Cbr />In addition, he said collaborations can give value added to the people especially in terms of employment.\r\n\u003Cbr />\r\n\u003Cbr />“Among the palm oil export destinations in 2021 are Mozambique, Madagascar, South Africa, Angola, and Namibia,” he said.\r\n\u003Cbr />\r\n\u003Cbr />PPB Oil Palms Bhd executive director Jeremy Goon said the palm oil industry has done a lot in addressing the sustainability issue.\u003C/p>“In my opinion, we have addressed all the issues and have more certification schemes in place and mechanisms than any other agricommodity. We need to continue this transparency, this certification, journey towards sustainability and not let our guard down.\r\n\u003Cbr />\r\n\u003Cbr />“We have already shown that we have a competitive oilseed when it comes to yield per hectare. That’s already an advantage that the industry has,” he said.\r\n\u003Cbr />\r\n\u003Cbr />On the biodiesel mandate agenda promised by Indonesia and Malaysia, LMC International chairman Dr James Fry said he doubted the implementation can be carried out this year, given the higher crude palm oil price.\r\n\u003Cbr />\r\n\u003Cbr />IOI Corp Bhd group managing director and chief executive officer Datuk Lee Yeow Chor is optimistic about the palm oil industry this year.\r\n\u003Cbr />\r\n\u003Cbr />“Even though we have been under attack by various quarters, all these are noises. It still comes back to the fundamental of supply and demand and we can see that demand is steady. Unfortunately, supply is constricted by various factors – lack of foreign workers and La Nina,” he said. — Bernama",{"id":1701,"name":1702},[1731],{"id":14,"name":15},{"name":1733,"file_name":1733,"url":1734},"rsz_1a_estate.jpg","https://www.ioigroup.com/storage/656/rsz_1a_estate.jpg",[],{"meta_title":1727,"meta_description":1737,"meta_keywords":28},"(File pic by IOI Corporation). KUALA LUMPUR: Amidst the continued allegations premised on the sustainability of the palm oil industry arising mostly f...",{"id":1739,"title":1740,"date":1741,"body":1742,"source":1743,"type":1746,"image":1748,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1751,"created_at":1751,"content_type":24,"related_news":1752,"metatag":1753},824,"Fighting the Good Fight","2020-11-23T00:00:00.000000Z","\u003Cp>\u003Cspan style=\"font-size: 14pt;\">\u003Cstrong>\u003Cspan style=\"color: #333399;\">IOI Corporation Group Managing Director, Datuk Lee Yeow Chor, on Defending the Palm Oil Sector and Promoting Industry Sustainability.\u003C/span>\u003C/strong>\u003C/span>\u003C/p>\u003Cdiv style=\"text-align: center;\">\r\n\r\n\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/DL.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>(Photo: International Business Review).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\r\n\u003Cbr />\r\n\u003Cp style=\"font-size: 10pt; text-align: left;\">\u003Cspan>\u003Cspan style=\"font-size: 12pt;\">\u003Cem>Contributing 4 percent to the national GDP, palm oil is the real liquid gold of Malaysia, and one of the leaders in the palm oil industry is IOI Corporation, which has extensive interests in upstream, midstream and downstream palm oil activities. It is therefore apt that Group Managing Director, Datuk Lee Yeow Chor, is recognised as a Captain of the Industry. This is further reinforced by him being a past Chairman of the Malaysian Palm Oil Council (MPOC) and the current Chairman of the Malaysian Palm Oil Association (MPOA).\r\n\u003C/em>\u003Cbr />\u003C/span>\u003C/span>\r\n\u003Cspan>\u003Cspan style=\"font-size: 12pt;\">\u003Cbr />\u003Cem>International Business Review sat down with Datuk Lee Yeow Chor to find out his aspirations for IOI and the palm oil industry as a whole. Particularly, how he aims to counter that anti-palm oil campaign and enhance the sector’s reputation for sustainability.\u003C/em>\u003C/span>\u003C/span>\u003C/p>\u003Cp style=\"text-align: left;\">\u003Cstrong>Countering the Propaganda \u003C/strong>\r\n\u003Cbr />\r\n\u003Cbr />For Datuk Lee Yeow Chor, tackling the anti-palm oil agenda is vital especially since constant negative publicity has become heavily ingrained in the minds of Western consumers. There are two parallel ways of doing so. One is for industry players to ramp up effort to prove their sustainability credentials. The other is to counter the anti-palm oil rhetoric with facts and figures.\r\n\u003Cbr />\r\n\u003Cbr />Datuk Lee is able to do just that, in a cool and collected manner which recalls his early days working in the Judiciary. As he tells IBR in a matter of fact way, “The main allegations against palm oil are that it causes deforestation and the loss of wildlife habitat. However, when you look at it on a global scale, oil palm plantations account for just 1.7 percent of agriculture land globally. And that is not significant when you look at the global picture.”\r\n\u003Cbr />\r\n\u003Cbr />At the same time, Datuk Lee believes that those who criticise and condemn palm oil should consider the alternatives. “If we rely on other vegetable oils to fulfil global demand, we will need to use six to 10 times more land area, because oil palm has a yield that is six to 10 times more than alternatives such as soybean and sunflower.”\u003C/p>\u003Cp style=\"text-align: left;\">\u003Cstrong>The Importance of Sustainability \u003C/strong>\r\n\u003Cbr />\r\n\u003Cbr />While dismissing much of the criticism against palm oil as unfounded and shallow, Datuk Lee Yeow Chor also believes that the sector should embrace sustainability. In fact, IOI Corporation as an industry leader is pushing for that, being one of the founding members of the Roundtable on Sustainable Palm Oil (RSPO) in 2005.\r\n\u003Cbr />\r\n\u003Cbr />This global organisation, he explains, brings together all stakeholders – palm oil companies, food manufacturers, retailers and even NGOs – to come up with the principles and criteria to certify the sustainability of palm oil production. It was and still is the only established global sustainability certification body among 17 different types of vegetable oils.\r\n\u003Cbr />\r\n\u003Cbr />RSPO certification has definitely paid off for IOI Corporation. As Datuk Lee reveals, “We have put a lot of focus on producing certified sustainable palm oil (CSPO) since we joined RSPO and our sales of CSPO accounts for 80 percent of our palm oil production. We have long-term sales agreements with multinational food companies that value sustainability and pay us a healthy premium for our sustainable palm oil.”\r\n\u003Cbr />\r\n\u003Cbr />Speaking from the wider industry point of view, Datuk Lee highlights that the MPOA, of which he is the Chairman, has been actively encouraging members to practise sustainability and observe environmental, social and governance (ESG) principles, and part of this includes being certified under the RSPO or MSPO (Malaysian Sustainable Palm Oil) certification schemes.\r\n\u003Cbr />\r\n\u003Cbr />The MPOA, incidentally, is the industry association which comprises palm oil upstream players with a combined 1.8 million hectares of plantations. “This,” he says, “is about half the total area of planted hectares in the country, excluding smallholders.”\u003C/p>\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/DLQ.jpg\" alt=\"\" />\u003Cdiv style=\"text-align: left;\">\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n    \u003Cem>(Photo: International Business Review).\u003C/em>\u003C/div>\u003Cbr />\r\n\u003C/div>\u003Cdiv style=\"text-align: left;\">\u003Cstrong>Facing Challenges\r\n\u003C/strong>\u003Cbr />\r\n\u003Cbr />While MPOA is encouraging the larger palm oil companies in Malaysia to join the RSPO, Datuk Lee is cognisant that there are certain challenges. As he explains, “Being a global organisation, the certification process for RSPO tends to be quite onerous and expensive, as it involves a lot of cost and is rather bureaucratic. Nevertheless, it is important that members of the palm oil industry show their sustainability standards.”\r\n\u003Cbr />\r\n\u003Cbr />Aside from the RSPO, there is also the Malaysian Sustainable Palm Oil (MSPO) standard, which was introduced by the Malaysian government several years ago. Datuk Lee highlights that the goal was to certify all Malaysian growers, including smallholders – totalling 5.8 million hectares of planted land – by the end of last year. He is pleased to note that this has almost been achieved, at around 90%, although there are still some challenges for smallholders, he points out.\r\n\u003Cbr />\r\n\u003Cbr />Datuk Lee Yeow Chor also cannot help but see the discrepancy in the Western world’s much publicised attitudes and their actual behaviour. As he tells IBR, “It is very ironic that, In spite of all the rhetoric about the importance of sustainability, only 50 to 60 percent of RSPO certified palm oil, totalling about 18 million tonnes, have been bought by food companies for Western consumers.”\r\n\u003Cbr />\r\n\u003Cbr />\u003Cstrong>The palm oil sector – upstream, mid-stream and downstream – has been a key contributor to Malaysia’s economic health. It is, as Datuk Lee Yeow Chor reveals, the third single-largest contributor to the GDP. It is responsible for 1 million jobs in the country, and brings in more than RM60 billion in export revenue annually, making it the fifth largest export. The efforts of industry leaders such as Datuk Lee Yeow Chor in battling the vast anti-palm oil interests should be lauded as a real national service.\u003C/strong>\u003C/div>\u003C/div>",{"id":1744,"name":1745},90,"International Business Review",[1747],{"id":14,"name":15},{"name":1749,"file_name":1749,"url":1750},"dl.jpg","https://www.ioigroup.com/storage/653/dl.jpg","2025-05-02T09:53:25.000000Z",[],{"meta_title":1740,"meta_description":1754,"meta_keywords":28},"IOI Corporation Group Managing Director, Datuk Lee Yeow Chor, on Defending the Palm Oil Sector and Promoting Industry Sustainability. (Photo: Internat...",{"id":1756,"title":1757,"date":1758,"body":1759,"source":1760,"type":1761,"image":1763,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1766,"created_at":1766,"content_type":24,"related_news":1767,"metatag":1768},822,"IOI Corp’s Q1 Net Profit Up 87% to RM278mil","2020-11-17T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/Buffalo_resized.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>Total FFB production for the first quarter of FY21 was 878,701 tonnes compared with 801,548 tonnes in the same quarter last year. (File pic by IOI Corporation).\u003C/em>\u003C/div>\u003C/div>\u003C/div>\r\n\u003Cp>\u003Cbr />\u003C/p>PETALING JAYA: IOI Corp Bhd has posted a 87% year-on-year (y-o-y) increase in net profit to RM277.9mil for the first quarter ended Sept 30.\r\n\u003Cbr />\r\n\u003Cbr />During the quarter under review, the conglomerate’s revenue rose 39.5% y-o-y to RM2.5bil.\r\n\u003Cbr />\r\n\u003Cbr />In a filing with Bursa Malaysia, IOI Corp said the higher earnings for the quarter were mainly due to higher contribution from the plantation segment, offset by lower contribution from the resource-based manufacturing segment.\r\n\u003Cbr />\r\n\u003Cbr />Profit for the plantation segment during the quarter doubled on the back of higher crude palm oil (CPO) and palm kernel (PK) prices realised as well as higher fresh fruit bunches (FFB) production.\r\n\u003Cbr />\r\n\u003Cbr />Total FFB production for the first quarter of FY21 was 878,701 tonnes compared with 801,548 tonnes in the same quarter last year.Additionally, the average CPO and PK prices realised for the quarter were RM2,579 per tonne and RM1,486 per tonne, respectively compared with RM2,014 per tonne and RM1,126 per tonne recorded in the same quarter last year.\r\n\u003Cbr />\r\n\u003Cbr />IOI Corp said its financial performance, for the second and third quarters of financial year (FY) ending June 30,2021, is expected to be good due to the strong palm oil price forecast until February 2021.\r\n\u003Cbr />\r\n\u003Cbr />“CPO price is expected to remain high – more than RM3,000 a tonne until February 2021, due to low palm oil inventory and seasonal low crop production until early next year, although its narrowing price discount against other competing vegetable oils and the coming winter in the northern Hemisphere will dampen its demand.\r\n\u003Cbr />\r\n\u003Cbr />“For our plantation segment, oil palm crop production is expected to decline until January or February 2021 due to the low production season, ” it said.\r\n\u003Cbr />\r\n\u003Cbr />However, the group noted that the new wave of Covid-19 infection cases in Malaysia and Europe has made operating conditions difficult and cast some uncertainties on its financial performance for the fourth quarter of FY21.",{"id":10,"name":11},[1762],{"id":14,"name":15},{"name":1764,"file_name":1764,"url":1765},"buffalo_resized.jpg","https://www.ioigroup.com/storage/651/buffalo_resized.jpg","2025-05-02T09:53:24.000000Z",[],{"meta_title":1757,"meta_description":1769,"meta_keywords":28},"Total FFB production for the first quarter of FY21 was 878,701 tonnes compared with 801,548 tonnes in the same quarter last year. (File pic by IOI Cor...",{"id":1771,"title":1772,"date":1773,"body":1774,"source":1775,"type":1776,"image":1778,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1781,"created_at":1781,"content_type":24,"related_news":1782,"metatag":1783},820,"IOI Corp's Dato Lee is IDC's Digital Transformation CEO of the Year","2020-11-16T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/IMG_4280_Dato.jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>IDC has recognised IOI Corp group managing director and chief executive Datuk Lee Yeow Chor as Malaysia’s Digital Transformation (DX) chief executive officer (CEO) of the year.\u003C/em>\u003C/div>\u003C/div>\u003C/div>\r\n\r\n\u003Cp>\u003C/p>KUALA LUMPUR: IOI Corporation Bhd (IOI Corp) group managing director and chief executive Datuk Lee Yeow Chor has been recognised as Malaysia's Digital Transformation (DX) chief executive officer (CEO) of the year by renowned international research firm International Data Corporation (IDC).\r\n\u003Cbr />\r\n\u003Cbr />In a statement released recently relating to the Malaysian Digital Transformation Awards (DX) 2020, IDC said through the leadership of Lee, IOI Corp had successfully undertaken its business digitalisation and transformation journey to become an intelligent enterprise.\r\n\u003Cbr />\r\n\u003Cbr />The purpose of the awards is to recognise enterprises and individuals as they reimagine their business in the new normal, said IDC.\r\n\u003Cbr />\r\n\u003Cp>\u003C/p>\u003Cp>Lee said the award serves as recognition of the commitment and achievements of all IOI Corp employees.\u003C/p>\u003Cp>IOI Corp had already implemented the SAP Enterprise Resource Planning (ERP) System in its downstream resource-based manufacturing business more than 15 years ago.\r\n\u003Cbr />\r\n\u003Cbr />In 2018, IOI Corp decided to implement the SAP ERP System together with the Electronic Plantation Monitoring System (ePMS) using handheld device in its oil palm plantations, which is a primary agricultural business.\u003C/p>The digital transformation programme was initiated with the vision of optimising activities across the entire value chain to maximise productivity, minimise cost and to cope with the fluidness of market conditions.\r\n\u003Cbr />\r\n\u003Cbr />"This is a far more ambitious project, involving 107 business units across 170,000 hectares of land, and involving more than 1200 users – many of whom are based at remote areas with unstable internet connectivity," said Lee.\r\n\u003Cbr />\r\n\u003Cbr />The group-wide SAP system was implemented in several roll-out stages to streamline IOI Corp's diverse and stand-alone systems into a single unified platform environment called the ONE IOI Integrated Platform.\r\n\u003Cbr />\r\n\u003Cbr />The SAP S/4HANA business suite is SAP's 4th-generation ERP software designed to run on the SAP HANA in-memory database.\r\n\u003Cbr />\r\n\u003Cbr />The SAP system was selected as it had the agility to support plantation industry-specific requirements.\r\n\u003Cbr />\r\n\u003Cbr />With SAP S/4HANA, IOI Corp had fully integrated corporate information for real-time decision-making and analytics.\r\n\u003Cbr />\r\n\u003Cbr />Its operations are now more streamlined, and its processes have been further optimised.\r\n\u003Cbr />\r\n\u003Cbr />Since the outbreak of the Covid-19 pandemic, the integrated and mobile-enabled platform has empowered IOI Group to operate without disruption while facilitating collaboration, even though some of its employees had to work remotely under the Movement Control Order (MCO) restrictions.\r\n\u003Cbr />\r\n\u003Cbr />"This digitalisation programme was conceptualised before the advent of the Covid-19 pandemic. With the pandemic, technology and digitalisation have become critical business success factors," said Lee.\r\n\u003Cbr />\r\n\u003Cbr />"At IOI Corp, having completed this programme, we have become more resilient and ready to transform to the next stage of efficiency and innovativeness," he added.\r\n\u003Cbr />\r\n\u003Cbr />Moving forward, IOI Corp is already exploring ways to further automate and systematise time-consuming manual activities by enabling robotic processing automation (RPA).\r\n\u003Cbr />\r\n\u003Cbr />This integrated digital transformation approach has strengthened IOI Corp's business fundamentals and the ability to create long-term value for all its stakeholders, including shareholders, employees and the communities in which it operates.",{"id":53,"name":54},[1777],{"id":14,"name":15},{"name":1779,"file_name":1779,"url":1780},"img_4280_dato.jpg","https://www.ioigroup.com/storage/649/img_4280_dato.jpg","2025-05-02T09:53:23.000000Z",[],{"meta_title":1772,"meta_description":1784,"meta_keywords":28},"IDC has recognised IOI Corp group managing director and chief executive Datuk Lee Yeow Chor as Malaysia’s Digital Transformation (DX) chief executive...",{"id":1786,"title":1787,"date":1773,"body":1788,"source":1789,"type":1790,"image":1792,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1795,"created_at":1766,"content_type":24,"related_news":1796,"metatag":1797},821,"IOI Corp Expects Strong CPO to Support Profits in Coming Two Quarters","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/rsz_plantation_main(1).jpg\" alt=\"\">\u003C/p>\u003Cp> \u003C/p>\u003Cp>KUALA LUMPUR: Higher palm oil prices boosted IOI Corp Bhd earnings in the three-month ended Sept 30, a trend the planter projected to continue in the next two quarters. \u003Cbr>\u003Cbr>Net profit surged to RM277.9mil compared with RM149mil made in same quarter last year, the company told Bursa Malaysia in a filing today. \u003Cbr>\u003Cbr>Revenue increased to RM2.48bil from RM1.78bil previously. IOI Corp said its profits was supported by total net foreign currency translation gain of RM98.5mil. \u003Cbr>\u003Cbr>Excluding the one-time gain, its profit was 21% higher from a year ago. \u003Cbr>\u003Cbr>Crude palm oil prices on Bursa Derivatives, the global benchmark, reached an eight-year high this month.IOI predicted that prices will remain above RM3,000 a tonne until February 2021 due to low palm oil inventory and seasonal low crop production. \u003Cbr>\u003Cbr>However, it said narrowing price discount against other competing vegetable oils and the coming winter in the Northern Hemisphere will dampen its demand. \u003Cbr>\u003Cbr>\"For our plantation segment, oil palm crop production is expected to decline until January or February 2021 due to the low production season,\" IOI Corp said. \u003Cbr>\u003Cbr>\"Although the operations in the plantations are not directly affected by the Conditional Movement Control Order (“CMCO”)’s restrictions, the freeze on new intake of foreign workers by the government has resulted in labour shortage which has become more severe as months go by,\" it added. \u003Cbr>\u003Cbr>\"Nevertheless, due to the strong palm oil price forecasted until February 2021, we expect good financial performance from our plantation segment at least for Q2 and Q3 of FY2021,\" it said. \u003Cbr>\u003Cbr>IOI Corp said the high CPO prices will hurt its refinery business. \u003Cbr>\u003Cbr>\"Refining and fractionation margins are expected to be negative or near breakeven due to the high CPO price and lower sales during the winter months in the Northern Hemisphere,\" it said. \u003Cbr>\u003Cbr>As for the oleochemical sub-segment, the rapid rise in palm kernel oil (PKO) and palm stearin prices recently will affect the products margins and profit. \u003Cbr>\u003Cbr>\"Sales volume is not expected to be materially affected due to the healthy demand from the soap and personal hygiene industries and the growth in China’s economy, although the new wave of the COVID-19 infection cases in Europe will affect the economy there,\" it said. \u003Cbr>\u003Cbr>\"In our specialty fats sub-segment comprising our associate company Bunge Loders Croklaan, the high palm oil price and the new wave of COVID-19 cases in Europe are expected to similarly affect its performance. \u003Cbr>\u003Cbr>However, the demand for snack food consumed at homes is expected to remain strong in USA and parts of Asia\" it said. \u003Cbr>\u003Cbr>The company expects the US dollar to remain soft after the election of Joe Biden as the new President of America, as concerns over the US-China and US-Europe trade wars wane. \u003Cbr>\u003Cbr>\"This will result in less fluctuation in the translation gain or loss on our USD-denominated borrowings,\" it said. \u003Cbr>\u003Cbr>\"Due to the strong palm oil price, the Group’s financial performance for Q2 and Q3 of FY2021 is expected to be good. However, the new wave of COVID-19 infection cases in Malaysia and Europe has made operating conditions difficult and cast some uncertainties on the financial performance of the Group for Q4 of FY202,\" IOI Corp said. \u003Cbr> \u003C/p>",{"id":10,"name":11},[1791],{"id":14,"name":15},{"name":1793,"file_name":1793,"url":1794},"rsz_plantation_main1.jpg","https://www.ioigroup.com/storage/650/rsz_plantation_main1.jpg","2025-05-04T07:58:00.000000Z",[],{"meta_title":1787,"meta_description":1798,"meta_keywords":28}," KUALA LUMPUR: Higher palm oil prices boosted IOI Corp Bhd earnings in the three-month ended Sept 30, a trend the planter projected to continue in the...",{"id":1800,"title":1801,"date":1773,"body":1802,"source":1803,"type":1806,"image":1808,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1811,"created_at":1751,"content_type":24,"related_news":1812,"metatag":1813},823,"IOI Corp Rakes In RM277.9m in Q1","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/plantation2.jpg\" alt=\"\">\u003C/p>\u003Cp> \u003C/p>\u003Cp>KUALA LUMPUR: Integrated palm oil producer IOI Corporation Bhd’s (IOI Corp) net profit increased to RM277.9 million in the first financial quarter (Q1) ended Sept 30, 2020, from RM149.0 million in the same period last year. \u003Cbr>\u003Cbr>The 86.5 per cent surge was partly due to a net foreign currency translation gain of RM98.5 million on foreign currency-denominated borrowings and deposits, but it was offset by a fair value loss on derivative financial instruments of RM49.8 million from the resource-based manufacturing segment. \u003Cbr>\u003Cbr>Excluding these items, the underlying profit before tax for the quarter was RM311.5 million (as opposed to RM360.2 million), up 21 per cent year-on-year due mainly to higher contribution from the plantation segment, IOI Corp said.\u003C/p>\u003Cp> \u003C/p>\u003Cp>However, the increase was offset by lower contribution from the resource-based manufacturing segment, the group said in a filing with Bursa Malaysia today. \u003Cbr>\u003Cbr>Meanwhile, revenue for the quarter jumped to RM2.48 billion from RM1.78 billion a year earlier. \u003Cbr>\u003Cbr>IOI Corp’s plantation segment profit for the quarter under review stood at RM273.6 million, a 116 per cent jump against the profit for the same quarter last year. \u003Cbr>\u003Cbr>“This is on the back of higher crude palm oil (CPO) and palm kernel (PK) prices as well as higher fresh fruit bunches (FFB) production,” said IOI Corp. \u003Cbr>\u003Cbr>The group recorded FFB production of 878,701 metric tonnes (MT) during the quarter versus 801,548 MT a year ago. \u003Cbr>\u003Cbr>Meanwhile, average CPO price achieved in the three months was RM2,579 per MT (versus RM2,014 per MT in the corresponding period last year) and average PK price was RM1,486 per MT (against RM1,126 MT a year earlier). \u003Cbr>\u003Cbr>Moving forward, IOI Corp said the CPO price had increased sharply, reaching an eight-year high this month. \u003Cbr>\u003Cbr>“The CPO price is expected to remain high by more than RM3,000 a tonne until February 2021, due to low palm oil inventory and seasonal low crop production until early next year, although its narrowing price discount against other competing vegetable oils and the coming winter in the Northern Hemisphere will dampen demand,” it added. \u003Cbr>\u003Cbr>IOI Corp said oil palm crop production was expected to decline until January or February next year due to the low production season. \u003Cbr>\u003Cbr>“Although the operations in the plantations are not directly affected by restrictions under the Conditional Movement Control Order, the freeze on new intake of foreign workers by the government has resulted in a labour shortage which is expected to be more severe as months go by,” it added. \u003Cbr>\u003Cbr>The group expects good financial performance from its plantation segment at least for the second and third quarters for this financial year ending June 30, 2021, due to strong palm oil price forecast until February next year. \u003Cbr>\u003Cbr>For the refinery and commodity market sub-segment within IOI Corp’s resource-based manufacturing segment, the refining and fractionation margins are expected to be negative or near break-even due to the high CPO price and lower sales during the winter months in the Northern Hemisphere.\u003C/p>",{"id":1804,"name":1805},11,"The Sun Daily",[1807],{"id":14,"name":15},{"name":1809,"file_name":1809,"url":1810},"plantation2.jpg","https://www.ioigroup.com/storage/652/plantation2.jpg","2025-05-04T07:57:34.000000Z",[],{"meta_title":1801,"meta_description":1814,"meta_keywords":28}," KUALA LUMPUR: Integrated palm oil producer IOI Corporation Bhd’s (IOI Corp) net profit increased to RM277.9 million in the first financial quarter (Q...",{"id":1816,"title":1817,"date":1818,"body":1819,"source":1820,"type":1823,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1781,"created_at":1781,"content_type":24,"related_news":1825,"metatag":1826},819,"IOI PELITA LAND DISPUTE RESOLUTION PROCESS: Fourth Joint Statement by IOI & Grassroots","2020-10-16T00:00:00.000000Z","\u003Cdiv>A year ago, IOI and the Sarawak-based NGO called CICOM embarked on the most difficult stage of the conflict resolution process: Community Participatory Mapping.  This process is divided into two major steps; field surveys and verification of final maps. Field surveys constitute the activity requiring most attention and energy: organizing the participants, conducting the land survey transects and recording the coordinates of the individual and communal boundaries and other more specific areas. By contrast, the verification work is less intense and involves verification of the maps and inventorization of any other material claims by the claimants.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>The mapping process involved many participants: village chiefs, elders, individual land-owners, their neighbors, and the CICOM team. It was further complicated by the sheer size of the area (9,040 ha), large number of households (503), ethnic diversity (five ethnic groups spread over 8 communities), and the existence of overlapping land claims and related intercommunal conflicts dating many years back.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>The IOI-CICOM team, supported with advice by Grassroots, was aware of and prepared to face the complexity, but it did not foresee other complications, such as the COVID-19 pandemic as well as some unexpected developments that affected the process and caused significant delays in the implementation of that crucial stage.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Furthermore, the growing complexity and scale of the task, including the increased number of affected groups, have created demand for in-person briefings as part of obtaining Free, Prior and Informed Consent (FPIC) with new groups, field-experienced surveyors, equipment and logistical organization outside of CICOM’s original capacity.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Despite all these difficulties, the IOI-CICOM-Grassroots team worked steadfastly, increased the number of surveyors in the field, and handled the obstacles in a constructive and open manner. As a result, CICOM managed to complete the field surveys by the end of July 2020 and began the socialization and verification of the maps in early August 2020.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>The map verification work has faced the following challenges, from which valuable lessons have been learned:\u003C/div>\u003Cul>\u003Cli>\u003Cstrong>Repeated Covid-19 movement restrictions in Malaysia \u003C/strong>affecting IOI’s ability to operate, stopping or disrupting fieldwork as well as inhibiting the multi-disciplinary, multi-organizational implementation team from working efficiently and at full capacity.\u003C/li>\u003Cli>\u003Cstrong>Addition of another affected community,\u003C/strong> the Penans of Long Lapok, which submitted their land claims to IOI Pelita only in July 2020.\u003C/li>\u003Cli>\u003Cstrong>Late claims from a group of 48 farmers from the LTKA community,\u003C/strong> who for some reason missed the deadline for completing the survey. IOI Pelita agreed to send CICOM’s surveyors back to the field to assist these farmers with mapping their individual land plots.\u003C/li>\u003Cli>\u003Cstrong>Objection to the participatory mapping process\u003C/strong> by Long Jegan community, which from the very start of the conflict resolution process claimed the entire area of IOI Pelita’s Provisional Lease as the sole territorial domain of the Berawan ethnic group. The Long Jegan community sent a letter to RSPO on 7 August 2020 complaining that IOI and CICOM were helping other affected communities to conduct their community participatory mapping without consulting with Long Jegan to avoid overlapping claims. In order to prevent a withdrawal of Long Jegan from the conflict resolution process, IOI and other stakeholders met with their leaders, explained again the concept of Community Participatory Mapping, and convinced them to continue their participation in the mapping process. \u003C/li>\u003C/ul>\u003Cdiv>At this point it is clear that the overlapping land claims and the related intercommunal land conflicts will continue to be a major factor that makes the IOI Pelita case difficult to tackle. These conflicts have been there for many decades but have not been addressed by anyone, including the communities themselves. It is likely that these internal land disputes were deemed too complicated due to the absence of convincing documentation or other historical evidence that would help to determine whether indeed one community has encroached on another community’s land.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>It has also become clear that Long Jegan and other communities were counting on IOI Pelita to resolve their conflicts with other communities.  The stakeholders, including IOI, NGOs, and local authorities, had to point out many times that the pre-existing inter-community disputes are beyond IOI’s authority and should be directed to either the District Officer or Native Court. IOI Pelita can only try to facilitate that process, which it has been doing.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>It is all stakeholders’ hope that the inter-community land disputes will not disrupt the completion of the Community Participatory Mapping stage of the resolution process and that all issues and grievances will be brought to the last stage, Negotiations for Final Dispute Settlement, where they will receive due consideration.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>The Community Participatory Mapping is now entering its last phase and the team is doing its best to complete it by November 2020. This revised target is realistic despite the challenges the team is currently facing. The last stage, Negotiation for Final Dispute Settlement will then start shortly afterwards.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>With the wealth of information and insights obtained by the IOI-CICOM-Grassroots team over the first two stages of the resolution process, the prospects for a fair and lasting resolution of the IOI Pelita land conflict have become real and positive, but as always, the complexity of the case should not be underestimated. The goal is to be inclusive and identify positive steps to mitigate issues and resolve dissatisfactions. Balancing expectations of communities, government and other stakeholders requires careful steps. These important steps form part of the ongoing effort to maintain momentum. We are confident the skills and experience of all involved in the current implementation will bring the case to a final resolution.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>",{"id":1821,"name":1822},82,"Stakeholder Engagement",[1824],{"id":922,"name":1822},[],{"meta_title":1817,"meta_description":1827,"meta_keywords":28},"A year ago, IOI and the Sarawak-based NGO called CICOM embarked on the most difficult stage of the conflict resolution process: Community Participator...",{"id":1829,"title":1830,"date":1831,"body":1832,"source":1833,"type":1834,"image":1836,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1781,"created_at":1781,"content_type":24,"related_news":1839,"metatag":1840},818,"IOI Corp Q4 Income Rises over Five Times","2020-08-26T00:00:00.000000Z","\u003Cdiv class=\"row\">    \r\n\u003Cdiv class=\"col-md-6 offset-md-3\">\r\n    \r\n    \u003Cdiv style=\"text-align: center;\">\u003Cimg style=\"width:100%; text-align: center;\" src=\"https://www.ioigroup.com/Files/News/image/Stock2(2).jpg\" alt=\"\" />\u003C/div>\r\n\r\n\u003Cdiv style=\"font-size: 10pt;line-height: normal; text-align: center;\">\r\n\u003Cem>IOI Corp said that the higher contribution from the plantation segment in the financial year was partially offset by lower operational contributions from the resource-based manufacturing segment.\u003C/em>\u003C/div>\u003C/div>\u003C/div>\r\n    \r\n\r\n\u003Cp style=\"text-align: left;\">\u003Cbr />\u003C/p>\u003Cp>PETALING JAYA: After a severe bottomline contraction in the third quarter, IOI Corp Bhd’s net profit in the final three months of its financial year 2020 leaped by over five times on stronger revenue and a much lower net translation loss on foreign currency-denominated borrowings.\r\n\u003Cbr />\r\n\u003Cbr />The group said in a Bursa Malaysia stock filing that its net profit in the April-June 2020 period rose to RM238.3mil as compared to RM46.6mil a year earlier. This was mainly due to the higher contribution from its plantation segment.\r\n\u003Cbr />\r\n\u003Cbr />According to IOI Corp, the plantation segment’s profit for the fourth quarter was RM234.2mil, which was 177% higher on a year-on-year (y-o-y) basis due to higher crude palm oil (CPO) and palm kernel prices realised as well as higher fresh fruit bunches production.\r\n\u003Cbr />\r\n\u003Cbr />Meanwhile, the group’s resource-based manufacturing segment profit for the fourth quarter was RM99.6mil or 13% higher than the profit a year earlier.\r\n\u003Cbr />\r\n\u003Cbr />IOI Corp’s revenue for the fourth quarter ended June 30 increased by 17.22% year-on-year (y-o-y) to RM2.04bil. Earnings per share were 3.8 sen. The group declared a dividend of four sen per share for the fourth quarter.\u003C/p>For the full financial year of 2020 (FY20), IOI Corp’s net profit fell by 4.88% y-o-y to RM600.9mil.\r\n\u003Cbr />\r\n\u003Cbr />However, revenue rose by 5.64% y-o-y to RM7.8bil.\r\n\u003Cbr />\r\n\u003Cbr />IOI Corp said that the higher contribution from the plantation segment in the financial year was partially offset by lower operational contributions from the resource-based manufacturing segment.\r\n\u003Cbr />\r\n\u003Cbr />The higher profit reported by the plantation segment was due mainly to higher CPO price realised as well as improved CPO extraction rate.\r\n\u003Cbr />\r\n\u003Cbr />On the other hand, the lower profit of the resource-based manufacturing segment was because of lower operational contributions from the oleochemical and refining sub-segments with reduction in margins.\r\n\u003Cbr />\r\n\u003Cbr />“The share of associates result is also lower due to lower sales arising from the Covid-19 pandemic as well as a one-off debt write down in the European operation, ” it said.\r\n\u003Cbr />\r\n\u003Cbr />Moving forward into FY21, IOI Corp expects to sustain its operational and financial performance\r\n\u003Cbr />\r\n\u003Cbr />“Oil palm crop production for the group is expected to be flat or slightly lower in FY21 due to the aggressive replanting program carried out in Sabah, offsetted by the increased crop production from our young Indonesian plantings and our associate company, Bumitama Agri Ltd\r\n\u003Cbr />\r\n\u003Cbr />“Overall, the financial performance of our plantation segment in FY21 is likely to be similar to that in FY20, which was a significant improvement from FY19.\r\n\u003Cbr />\r\n\u003Cbr />“In our resource-based manufacturing segment, the prospect of the oleochemical sub-segment remains positive despite the operational challenges posed by Covid-19 pandemic as the oleochemical products have a wide range of applications in different industries, ” it said.",{"id":10,"name":11},[1835],{"id":14,"name":15},{"name":1837,"file_name":1837,"url":1838},"stock22.jpg","https://www.ioigroup.com/storage/648/stock22.jpg",[],{"meta_title":1830,"meta_description":1841,"meta_keywords":28},"IOI Corp said that the higher contribution from the plantation segment in the financial year was partially offset by lower operational contributions f...",{"id":1843,"title":1844,"date":1845,"body":1846,"source":1847,"type":1848,"image":1850,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1852,"created_at":1853,"content_type":24,"related_news":1854,"metatag":1855},816,"IOI Corp Expects Palm Oil Prices to Decline from Current Strong Level","2020-08-25T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/Resized01(1).jpg\" alt=\"\">\u003C/p>\u003Cp> \u003C/p>\u003Cp>KUALA LUMPUR: IOI Corp Bhd has warned that the price of palm oil could turn weaker later this year from current strong level on rising output and slower exports. \u003Cbr>\u003Cbr>Palm oil prices have increased significantly from around RM2,100 a tonne in May to above RM2,700 per tonne in August after stockpile fell to a three-year low in July. \u003Cbr>\u003Cbr>\"Oil palm crop production is likely to increase gradually from September to November this year while the demand is expected to taper off from the high restocking activity in the major importing countries, while supported by festive demand during the Chinese Full Moon Festival and the Diwali celebration in November,\" it said. \u003Cbr>\u003Cbr>\"As a result, palm oil price may decline slightly during the fourth quarter of this year from its current strong level,\" the planter said today. \u003Cbr>\u003Cbr>IOI Corp Bhd posted a net profit of RM238mil in the last quarter in its fiscal year ended June 30 (FY20), boosted by higher crude palm oil and palm kernel selling prices.\u003C/p>\u003Cp>For the full year, the company made a net profit of RM600mil, or 9.57 sen a share. \u003Cbr>\u003Cbr>The company has declared a second interim dividend of 4 sen a share, to bring its full year payout to 8 sen a share.\u003C/p>",{"id":10,"name":11},[1849],{"id":14,"name":15},{"name":1196,"file_name":1196,"url":1851},"https://www.ioigroup.com/storage/646/resized011.jpg","2025-05-04T07:58:29.000000Z","2025-05-02T09:53:22.000000Z",[],{"meta_title":1844,"meta_description":1856,"meta_keywords":28}," KUALA LUMPUR: IOI Corp Bhd has warned that the price of palm oil could turn weaker later this year from current strong level on rising output and slo...",{"id":1858,"title":1859,"date":1845,"body":1860,"source":1861,"type":1862,"image":1864,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1867,"created_at":1853,"content_type":24,"related_news":1868,"metatag":1869},817,"IOI Corp 4Q Profit Jumps Fivefold Thanks to Higher CPO Prices","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/ioigroup%20(redone%20thumbnail)_v2(1).jpg\" alt=\"\">\u003C/p>\u003Cp> \u003C/p>\u003Cp>KUALA LUMPUR (Aug 25): IOI Corp Bhd's net profit for the fourth financial quarter ended June 30, 2020 (4QFY20) leapt to RM238.3 million compared with just RM100,000 for 3QFY20 thanks to higher crude palm oil (CPO) and palm kernel (PK) prices realised in the quarter. \u003Cbr>\u003Cbr>The quarterly net profit was five times higher from RM46.6 million a year ago. \u003Cbr>\u003Cbr>IOI Corp said in its quarterly result announcement that it anticipates the financial performance of its plantation segment in FY21 to be similar to that in FY20, which was a significant improvement from FY19.\u003C/p>\u003Cp>Quarterly revenue came in at RM2.04 billion, just slightly higher than RM2.03 billion recorded in 3QFY20, and 17% higher from a year ago at RM1.74 billion. \u003Cbr>\u003Cbr>The group declared a second interim dividend of four sen per share for FY20 ended June 30, 2020. The proposed dividend will be paid on Sep 18. \u003Cbr>\u003Cbr>The group's plantation segment recorded a 117% increase in profit at RM234.2 million during the quarter, compared with RM84.5 million a year ago, on the back of higher CPO and PK prices realised as well as higher fresh fruit bunches (FFB) production. \u003Cbr>\u003Cbr>Its average CPO and PK prices realised for 4QFY20 were RM2,370 per MT and RM1,349 per MT respectively, while FFB production was at 865,503 MT. \u003Cbr>\u003Cbr>For FY20, the group's annual net profit fell 5% to RM600.9 million versus RM631.7 million a year ago, though revenue climbed 5.6% to RM7.8 billion versus RM7.39 billion previously. \u003Cbr>\u003Cbr>Looking ahead, IOI said oil palm crop production is likely to increase gradually from September to November this year while the demand is expected to taper off from the high restocking activity in the major importing countries, supported by festive demand during the Chinese Full Moon Festival and the Diwali celebration in November. \u003Cbr>\u003Cbr>As a result, it added, palm oil prices may decline slightly in the fourth quarter of this year from its current strong level. \u003Cbr>\u003Cbr>\"Oil palm crop production for the group is expected to be flat or slightly lower in FY21 due to the aggressive replanting programme carried out in Sabah, offset by the increased crop production from our young Indonesian planting and our associate company, Bumitama Agri Ltd. \u003Cbr>\u003Cbr>\"We have been actively implementing mechanisation in our estates and digitisation in our business processes in order to reduce reliance on foreign workers and improve our efficiency in estate operations as well as administrative control,\" it said. \u003Cbr>\u003Cbr>Shares in IOI ended five sen or 1.11% higher at RM4.55, valuing the company at RM28.51 billion.\u003C/p>",{"id":1273,"name":1274},[1863],{"id":14,"name":15},{"name":1865,"file_name":1865,"url":1866},"ioigroup_redone_thumbnail_v21.jpg","https://www.ioigroup.com/storage/647/ioigroup_redone_thumbnail_v21.jpg","2025-05-04T07:58:44.000000Z",[],{"meta_title":1859,"meta_description":1870,"meta_keywords":28}," KUALA LUMPUR (Aug 25): IOI Corp Bhd's net profit for the fourth financial quarter ended June 30, 2020 (4QFY20) leapt to RM238.3 million compared with...",{"id":1872,"title":1873,"date":1874,"body":1875,"source":1876,"type":1877,"image":1879,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1882,"created_at":1883,"content_type":24,"related_news":1884,"metatag":1885},815,"IOI Corp Enhances Operational Efficiencies with S/4HANA","2020-07-29T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/IMG_20200703_111502.jpg\" alt=\"\">\u003C/p>\u003Cp>\u003Ci>IOI head of business systems Alvin Lee (right) with SAP Malaysia managing director Hong Kok Cheong.\u003C/i>\u003C/p>\u003Cp> \u003C/p>\u003Cp>KUALA LUMPUR: IOI Corporation Bhd (IOI Corp) credits its earlier decision to embark on a digital transformation programme which has resulted in the group realising greater operational efficiencies. \u003Cbr>\u003Cbr>Since its inception in 1982, IOI Corp has undergone several business transformations to become one of the world's leading global integrated and sustainable palm oil plantation players, as well as downstream resource-based manufacturer with strong presence in Asia, Europe and USA, the company said in a statement. \u003Cbr>\u003Cbr>As the businesses grew, and processes became more complex in order to adapt to market dynamics and regulatory requirements, IOI Corp realised the group had to transform and adopt technology innovations to stay ahead. \u003Cbr>\u003Cbr>\"Prior to this, most of our operations were handled manually and in silos,\" said IOI Corp head of business systems Alvin Lee. \u003Cbr>\u003Cbr>\"There was no single source of truth and management was unable to make informed decisions quickly, as information was scattered everywhere. We did not have good visibility of the company's performance,\" he said. \u003Cbr>\u003Cbr>With the strong support of group managing director and chief executive officer Datuk Lee Yeow Chor, IOI Corp embarked on its journey towards digital transformation with SAP, a German multinational software corporation. \u003Cbr>\u003Cbr>IOI Corp had rolled out the SAP S/4HANA solution to its corporate office, mills, refinery and estates, with support from HCL Technologies and Wilmar Consultancy Services as its implementation partners. \u003Cbr>\u003Cbr>The S/4HANA business suite is SAP's 4th-generation ERP (enterprise resource planning) software designed to run on the SAP HANA in-memory database. \u003Cbr>\u003Cbr>With the go-live of S/4HANA, IOI Corp has fully integrated corporate information for real-time decision-making and analytics. \u003Cbr>\u003Cbr>According to Lee, the company's operations are now more streamlined, and processes have been further optimised. \u003Cbr>\u003Cbr>He said the SAP Fiori user interface helped to improve the productivity of employees. \u003Cbr>\u003Cbr>\"We use the SAP Cloud Platform to connect satellite applications with S/4HANA to achieve greater business efficiency,\" Lee said. \u003Cbr>\u003Cbr>\"With a strong ERP platform, our group can now continue to assess our businesses in real-time, and ensure both producing and sourcing sustainable palm oil priorities continue to be topmost within our agenda,\" he added. \u003Cbr>\u003Cbr>\"There is no better choice in the market as SAP is the world's leading ERP software provider with strong capabilities in finance, supply chain, and asset management, while having the agility to support plantation industry-specific requirements.\" \u003Cbr>\u003Cbr>Lee also pointed out that IOI Corp is currently in discussions with SAP to further automate and systematise time-consuming manual activities through robotic processing automation. \u003Cbr>\u003Cbr>He had shared IOI Corp's experiences with digital transformation and operations at the recent SAP Forward Together 2020 virtual event. \u003Cbr>\u003Cbr>Also present at the event was SAP Malaysia managing director Hong Kok Cheong who praised IOI Corp for being one of Malaysia's most transformative organisations. \u003Cbr>\u003Cbr>\"SAP is extremely proud that IOI Corp has selected SAP to begin their journey into becoming an intelligent enterprise,\" said Hong. \u003Cbr>\u003Cbr>\"We hope that others will be encouraged and be uplifted by what IOI Corp was able to achieve thanks to its digital transformation success.\"\u003C/p>",{"id":53,"name":54},[1878],{"id":14,"name":15},{"name":1880,"file_name":1880,"url":1881},"img_20200703_111502.jpg","https://www.ioigroup.com/storage/645/img_20200703_111502.jpg","2025-05-04T07:59:00.000000Z","2025-05-02T09:53:21.000000Z",[],{"meta_title":1873,"meta_description":1886,"meta_keywords":28},"IOI head of business systems Alvin Lee (right) with SAP Malaysia managing director Hong Kok Cheong. KUALA LUMPUR: IOI Corporation Bhd (IOI Corp) credi...",{"id":1888,"title":1889,"date":1890,"body":1891,"source":1892,"type":1893,"image":1895,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1898,"created_at":1883,"content_type":24,"related_news":1899,"metatag":1900},814,"IOI Corp's Margin to Improve in Q4","2020-07-21T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/IOI%20Group(22).jpg\" alt=\"\">\u003C/p>\u003Cp>KUALA LUMPUR: IOI Corp Bhd's downstream segment should improve sequentially on the back of higher sales volume, backloaded by Movement Control Order (MCO) and China demand, thus improving its margin in the fourth quarter (Q4) ending June 30, 2020. \u003Cbr>\u003Cbr>Kenanga Investment Bank Bhd said IOI Corp's sales volume for soap noodles and glycerin (used in toiletries and hand sanitisers manufacturing) were higher in Q4, following heightened personal hygiene measures due to Covid-19. \u003Cbr>\u003Cbr>\"Lower feedstock prices from lower crude palm oil (CPO) prices should have resulted in margin improvements. \u003Cbr>\u003Cbr>\"For its upstream division, lower CPO prices should offset the recovery in fresh fruit bunches (FFB) output spiked 37 per cent quarter-on-quarter (QoQ),\" Kenanga IB analyst Adrian Kok said in a report today. \u003Cbr>\u003Cbr>The firm remained \"neutral\" on IOI Corp's near-term prospects as FFB growth in the year ending June 30, 2020 was guided at 3.0 per cent to 5.0 per cent with production cost remaining between RM1,500 to 1,600 per tonne and higher replanting cost offsetting higher FFB. \u003Cbr>\u003Cbr>\"The low single-digit FFB growth is due to IOI Corp's aggressive replanting exercise plan for FY21 of 12,000 hectares compared to FY20 8,000 ha, mainly in its Sabah estates, which we believe account for about 62 per cent of the group's production. \u003Cbr>\u003Cbr>\"Growth is expected to be driven by Peninsular estates about 25 per cent of production) recovering from the dry weather impact, and Indonesian estates (about 10 per cent of production) with young age profile of five years.\" \u003Cbr>\u003Cbr>Its FY20 FFB output registered about 10 per cent year-on-year (YoY) decline and predicted 2020's CPO price should hover at RM2,300 to 2,400 per tonne. \u003Cbr>\u003Cbr>Kok said IOI Corp's FY20 production cost was expected to creep up between RM1,500 and 1,600 per tonne due to lower FFB output, while FY21 production cost should remain similar as higher replanting cost was negated by improvement in FFB output. \u003Cbr>\u003Cbr>\"We believe the group has locked in more than 50 per cent fertiliser requirements for FY21 at a level similar to FY20.\" \u003Cbr>\u003Cbr>Kenanga IB recommended \"market perform\" for IOI Corp with unchanged target price of RM4.25 with price-to-earnings ratio at 29.5 times. \u003Cbr>\u003Cbr>\"Inventory levels are expected to rise in the coming months as production enters peak season, which should exert pressure on CPO prices.\" \u003Cbr>\u003Cbr>Meanwhile, Kenanga IB said IOI Corp had about RM960 million war chest (from the disposal of 70 per cent stake in Loders) for acquisitions and remains on the lookout for brownfield plantation estates - with preference towards Malaysian estates. \u003Cbr>\u003Cbr>\"However, attractive deals are difficult to come by as most estate owners are demanding lofty valuations. That said, with an extended deadline (September 2021) for the utilisation of the proceeds, we believe there is a possibility for a deal to manifest in FY21.\" \u003Cbr>\u003Cbr>The group allocated RM500 million for FY21 capital expenditure and earmarked about RM100 million for further capacity expansion in Prai, Penang. \u003Cbr>\u003Cbr>\"The new facility is expected to increase the group's existing Oleochemical capacity by 110,000 tonne per year. However, we have yet to factor in any earnings contribution as the completion is projected to be only in mid-FY22,\" the firm said.\u003C/p>",{"id":53,"name":54},[1894],{"id":14,"name":15},{"name":1896,"file_name":1896,"url":1897},"ioi_group22.jpg","https://www.ioigroup.com/storage/644/ioi_group22.jpg","2025-05-04T07:59:15.000000Z",[],{"meta_title":1889,"meta_description":1901,"meta_keywords":28},"KUALA LUMPUR: IOI Corp Bhd's downstream segment should improve sequentially on the back of higher sales volume, backloaded by Movement Control Order (...",{"id":1903,"title":1904,"date":1905,"body":1906,"source":1907,"type":1908,"image":1910,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1913,"created_at":1914,"content_type":24,"related_news":1915,"metatag":1916},813,"Bargain Basement’s Datin Joanne Wong Encourages Takers to Champion Cause of New Second-Hand Retail Stores","2020-07-13T00:00:00.000000Z","\u003Cp>The initiative supports charities by selling preloved-goods at a reasonable price.\u003C/p>\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/1(3).jpg\" alt=\"\">\u003C/p>\u003Cp>\u003Ci>Wong is the executive director of IOI Corp Bhd’s IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) (Photo: Suhaimi Yusuf/The Edge)\u003C/i>\u003C/p>\u003Cp>\u003Ci>By Cheryl Poo\u003C/i>\u003C/p>\u003Cp>It is a sunny Monday morning and the early crowd is trickling into IOI City Mall in Putrajaya. \u003Cbr>\u003Cbr>On the third basement level in the western wing of the expansive shopping centre, a charming little thrift store takes residence along a wide walkway, visible to passers-by who often cannot resist dropping in for a quick hunt for affordable buys. \u003Cbr>\u003Cbr>This is \u003Ca href=\"http://www.bargainbasement.com.my/\">Bargain Basement\u003C/a>, the social enterprise brainchild of Datin Joanne Wong, who is the executive director of IOI Corp Bhd’s IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng). \u003Cbr>\u003Cbr>Looking immaculate and smiling broadly, she engages in an outlet tour to acquaint her guest with its offerings and cause. \u003Cbr>\u003Cbr>Items at the flagship outlet are neatly arranged by category for ease of browsing. They are appropriately priced and many pieces are sold for a song.\u003C/p>\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/2(4).jpg\" alt=\"\">\u003C/p>\u003Cp>\u003Ci>This lace bridal gown is still in perfectly good condition (Photo: Suhaimi Yusuf/The Edge)\u003C/i>\u003C/p>\u003Cp>Apparel is sorted by gender and occasion, with a sizeable collection of children’s clothing and toys taking up an entire corner. Flanking it is a broad bookshelf with a wide assortment of fiction and non-fiction reads. \u003Cbr>\u003Cbr>At least 20% of donations are brand-new and in excellent condition, like the rack of ladies’ ballerina flats, discounted at 60% off its retail price. They come from a shoe store in Pavilion Mall Kuala Lumpur, which folded because of challenges in sustaining the business. \u003Cbr>\u003Cbr>“This”, Wong says, gently lifting a lace bridal gown off a hanging rack, “is perfectly good. It really is a lovely material and in great condition. We have a number of these gowns since women wear them only once.” \u003Cbr>\u003Cbr>Fashion accessories — such as bracelets, necklaces, scarves and neckties — are in itemised compartments, while conference bags and travel cases stand perched along tall shelves. \u003Cbr>\u003Cbr>Then, there are the home appliances and décor ornaments, such as an antique US Coast Guard sailing model ship going for RM400. \u003Cbr>\u003Cbr>No apologies for the second-hand business of goods handled with dignity. What is unused in a home or office is likely to fulfil a need in another, and every sale is a cause for celebration since proceeds are channelled back into communities in need.\u003C/p>\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/3(3).jpg\" alt=\"\">\u003C/p>\u003Cp>\u003Ci>This antique US Coast Guard sailing model ship going for RM400 (Photo: Suhaimi Yusuf/The Edge)\u003C/i>\u003C/p>\u003Cp>Bargain Basement’s social enterprise business model is lean and efficient. Its inventories are donated, and overheads are kept to a minimal. \u003Cbr>\u003Cbr>Its two outlets at IOI City Mall Putrajaya and IOI Mall Puchong are each manned by reliable full-time staff, with the assistance of a few other administrative officers and, occasionally, part-timers when there is a high volume of incoming goods. \u003Cbr>\u003Cbr>Wong is grateful. Her team has worked faithfully for years and taken to the cause with enthusiasm. \u003Cbr>\u003Cbr>“We do have SOPs (standard operating procedures) such as ensuring 100 new items per day are stocked. Otherwise, customers won’t buy what they cannot see.”\u003C/p>\u003Cp>\u003Cstrong>Declutter regularly, spend wisely\u003C/strong>\u003C/p>\u003Cp>When Bargain Basement came onstream with its flagship outlet at IOI City Mall Putrajaya in 2016, Wong’s personal contributions composed a quarter of the store’s inventory. Among them were an unused and boxed crock-pot, curtains and children’s toys — the whole shebang from years of unaccounted storage. \u003Cbr>\u003Cbr>For this very reason, Wong encourages the discipline of frequent decluttering with the hopes that buyers spend more carefully. \u003Cbr>\u003Cbr>Her friends who have espoused the lifestyle are professing improved consumer habits. \u003Cbr>\u003Cbr>“I’m not a heavy consumer myself. I keep a simple wardrobe, with the exception of some fancy garments for dinners. Doing this (advocating the cause of Bargain Basement) has made me realise that we hoard more than necessary,” she observes. \u003Cbr>\u003Cbr>“As long as people are buying things, they have to spring clean. Consider the kids’ rooms. It is amazing the many things that can be drawn out of a little girl’s room,” she adds with a smile.\u003C/p>\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/4(2).jpg\" alt=\"\">\u003C/p>\u003Cp>\u003Ci>A sizeable collection of children’s clothing and toys take up an entire corner (Photo: Suhaimi Yusuf/The Edge)\u003C/i>\u003C/p>\u003Cp>After managing the foundation’s scholarship and student adoption programmes for the last nine years, Wong decided to redirect her interest in community impact programmes to running a business instead. \u003Cbr>\u003Cbr>Handouts, in most cases, have been instrumental in furthering education and career opportunities, but Wong saw a greater impact that could be achieved by running a social enterprise. \u003Cbr>\u003Cbr>Four years on, today, advocating the cause of appropriating preloved goods via Bargain Basement has proven to be a suitable undertaking for the enterprising Wong. She had longed for the thrill of business and meeting its challenges. By focusing on social impact instead of profits, she would not be overwhelmed by the pressures of bottom-line figures. After all, the sweet spot for Wong has always been the opportunity to interact with people through running programmes and projects. \u003Cbr>\u003Cbr>Bargain Basement appeals to a wide clientele — travellers shopping for trinkets, school children who visit the mall for excursions, working professionals from the surrounding vicinity and underprivileged workers.\u003C/p>\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/5(2).jpg\" alt=\"\">\u003C/p>\u003Cp>\u003Ci>Bargain Basement appeals to a wide clientele including working professionals from the surrounding vicinity (Photo: Suhaimi Yusuf/The Edge)\u003C/i>\u003C/p>\u003Cp>Before the mall opened, Wong had managed to persuade the property’s management to allocate a bus terminal close to the basement shop so that touring groups and feeder line passengers have direct access to the outlet. \u003Cbr>\u003Cbr>Wong remembers a plumber from overseas who was able to buy a frilly dress for his wife and a pair of Crocs for his daughter, totalling less than RM100. She takes pleasure in this sweet memory and was genuinely pleased for his good deal, which would have otherwise been a stretch for him.\u003C/p>\u003Cp>\u003Cstrong>Seeking partnerships\u003C/strong>\u003C/p>\u003Cp>The social enterprise is setting out to engage other developers, who are agreeable to providing rent-free space for new Bargain Basement outlets, and sponsors to finance renovations. \u003Cbr>\u003Cbr>Wong is convinced that a number of suburbs in the Klang Valley are able to support a thrift store modelled like this. \u003Cbr>\u003Cbr>A rigorous assessment of beneficiary charities would then need to be undertaken by Bargain Basement’s administration to screen for sustainability and capability. \u003Cbr>\u003Cbr>Wong alludes to home-based organisations — such as Dual Blessing, a little-known social enterprise that provides working opportunities for the physically disadvantaged — as capable and proactive charities that she has gladly supported over the years.\u003C/p>\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/6(2).jpg\" alt=\"\">\u003C/p>\u003Cp>\u003Ci>Bargain Basement's offerings include a wide assortment of fiction and non-fiction reads (Photo: Bargain Basement)\u003C/i>\u003C/p>\u003Cp>The full proceeds from thrift sales — sans lean deductions for staff salaries, utility and miscellaneous payments — go directly to Bargain Basement’s 20 beneficiaries. They include Alzheimer’s Disease Foundation Malaysia, Autism Café Project, disadvantaged children non-profit Charwiki as well as one-stop learning centre for urban poor children Dignity for Children Foundation. \u003Cbr>\u003Cbr>So far, Bargain Basement has channelled a total of RM264,400 to these organisations. \u003Cbr>\u003Cbr>“Admittedly, these are small figures for IOI Corp, but I would attest to the outreach’s social impact, especially our beneficiary communities, and the meaning it brings to our corporate social responsibility,” Wong remarks. \u003Cbr>\u003Cbr>Naturally, there are business barriers that need to be broken, such as the perception that Bargain Basement is IOI Corp’s initiative and is therefore its own venture to drive. \u003Cbr>\u003Cbr>At any rate, Wong’s team has found a like-minded collaborator in Universiti Tunku Abdul Rahman (UTAR). \u003Cbr>\u003Cbr>Its Kampar campus was supposed to set up a bargain outlet, but plans have been put on hold because of the Covid-19 lockdown and uncertainties ahead.\u003C/p>\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/7.jpg\" alt=\"\">\u003C/p>\u003Cp>\u003Ci>Fashion accessories — such as bracelets, necklaces, scarves and neckties — are in itemised compartments (Photo: Bargain Basement)\u003C/i>\u003C/p>\u003Cp>Wong would have liked to engage UTAR’s design students to style the outlet. She envisions such collaborations to be excellent opportunities for students to harness their skills. \u003Cbr>\u003Cbr>Then, there is the social stigma that precedes preloved goods. Fortunately, perception is evolving, thanks to environmentally conscious movements that propagate reusing and recycling of goods. \u003Cbr>\u003Cbr>Besides, Bargain Basement has earned a reputation for its reasonable pricing and being appropriately stocked and tidy. Such a regard is heartening for Wong, as she knows the tremendous care her nimble team puts into managing the social enterprise responsibly and transparently. \u003Cbr>\u003Cbr>“It really is about a matter of impression. Some people may feel that they have an image to [maintain],” remarks Wong, who has bought items from the bargain store such as children’s swimming floats and other miscellanea. \u003Cbr>\u003Cbr>“But suppose a person walks in and sees a nice vase going for RM20. They will buy it. That’s just the reality of it.”\u003C/p>\u003Cp> \u003C/p>\u003Cp>\u003Ci>This article first appeared on June 8, 2020 in The Edge Malaysia.\u003C/i>\u003C/p>",{"id":109,"name":110},[1909],{"id":14,"name":15},{"name":1911,"file_name":1911,"url":1912},"13.jpg","https://www.ioigroup.com/storage/643/13.jpg","2025-05-04T07:59:58.000000Z","2025-05-02T09:53:20.000000Z",[],{"meta_title":1904,"meta_description":1917,"meta_keywords":28},"The initiative supports charities by selling preloved-goods at a reasonable price.Wong is the executive director of IOI Corp Bhd’s IOI Foundation (for...",{"id":1919,"title":1920,"date":1921,"body":1922,"source":1923,"type":1924,"image":1926,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1929,"created_at":1914,"content_type":24,"related_news":1930,"metatag":1931},812,"Shedding Light on IOI Corp’s Five-Year Blueprint","2020-04-06T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/Untitled(2).jpg\" alt=\"\">\u003C/p>\u003Cp>\u003Ci>Lee: The vision is not a complete redraft [of the existing Vision IOI]. We added new elements and simplified the language.\u003C/i>\u003C/p>\u003Cp>\u003Ci>By Jenny Ng\u003C/i>\u003C/p>\u003Cp>Any diligent and cost-conscious planter knows only too well that a “good buy” is hard to come by these days. Two years after concluding the sale of a 70% stake in Loders Croklaan Group BV to Bunge Ltd, IOI Corp Bhd has yet to make a substantial acquisition with the proceeds that were earmarked for future investments. In fact, IOI Corp’s board has sought an 18-month extension for the usage of the RM983.2 million left from the RM3.8 billion sale price.\u003Cbr> \u003C/p>\u003Cp>“[We] cannot find land, group managing director and chief executive Datuk Lee Yeow Chor tells \u003Ci>The Edge\u003C/i> in an interview.\u003Cbr>\u003Cbr>He adds that the group is looking only at Malaysian plantations. It is not keen on Indonesian estates because it wants to avoid potential issues pertaining to land rights and sustainability, he explains.\u003Cbr>\u003Cbr>“[Furthermore,] this kind of thing is opportunistic – it’s not that [when] you want to buy, you can buy. It depends on the seller and the price [must] meet your expectations. Principally, [we’re] looking at Malaysia only,” Lee says.\u003Cbr>\u003Cbr>Through the 30% associate stake it retained in Bunge Loders Croklaan Group BV (BLC), IOI Corp has expanded its global presence with plants in four continents, selling to multinational companies. But IOI Corp wants to do more in line with its vision to be a leading and sustainable Malaysia corporation with a global presence.\u003Cbr>\u003Cbr>“The vision is not a complete redraft [of the existing Vision IOI]. We added new elements and simplified the language. For example, we’ve always wanted to achieve balance and responsible growth. Now, we use the term sustainable. What is new is global presence.\u003Cbr>\u003Cbr>“We have to adopt global best practices to be globally competitive. We want to do things that are not at the lowest cost.  We want to move from commoditised products, which are based on lowest cost. We can’t move completely but we want to produce more good-quality, high-value-added or premium products at competitive cost. And when we produce such quality and premium products, we have to be exporting worldwide and be competitive worldwide. Our products can be competitive on a global scale,” Lee adds.\u003Cbr>\u003Cbr>The plan is driven by five targets to be achieved by the end of five years from 2020 to 2024. First, the group aims to increase its plantations’ oil yield by 15% through improved planting materials and efficiency in crop evacuation through mechanisation. Secondly, it wants to reduce workers by 20%. Thirdly, it wants to diversify crop plantings and fourthly, it wants to derive a profit of RM100 million from non-crude palm oil (CPO) products. Lastly, it wants to increase the oleochemical segment’s profit contribution by RM100 million.\u003Cbr>\u003Cbr>Through mechanisation, automation and digitisation of its estate operations and using molecular biology to improve planting material, the group aims to also address the issue of labour shortage.\u003Cbr>\u003Cbr>To diversify its crop plantings, Lee says the plan is to plant 4% of its Malaysian plantations – equivalent to 6,000 ha – with other crops such as coconut over the next five years.\u003Cbr>\u003Cbr>“That’s part of the strategy to diversify in a small way [from] our exposure to palm oil price volatility. It’s the main reason to diversify and discover other profitable crops, which may not be planted on the same scale as oil palm but may give good returns,” he says.\u003Cbr>\u003Cbr>In terms of deriving value from non-CPO products, IOI Corp wants to use its empty fruit bunches (EFB), palm trunks, palm oil mill effluent and methane gas to produce value-added products.\u003Cbr>\u003Cbr>“Again, we’re already using EFB for mass boilers, I’d say these are low value. We want to export premium products to be globally competitive. For EFB and palm trunk, these are already being done but we aim to be of a higher quality,” Lee explains.\u003Cbr>\u003Cbr>As for the oleochemical segment, the group aims to increase the profit contribution through organic expansion and new product applications. The business contributed 33% to the group’s segment results of about RM1 billion in FY2019, compared with the plantation business’ 46%, refinery 16%, and BLC 4%.\u003Cbr>\u003Cbr>In five years’ time, Lee expects IOI Corp to increase its earnings by RM250 million, which is about 25% of its operating profit in FY2019.\u003Cbr>\u003Cbr>In FY2019, IOI Corp’s net profit fell 79.9% to RM617.6 million from RM3.068 bilion in FY2018 due to the absence of a material disposal gain arising from the sale of Loders. Meanwhile, profitability at its plantation segment was affected by lower CPO and palm kernel prices.\u003Cbr>\u003Cbr>It was also during that financial year that group lost its founder and executive chairman, the late Tan Sri Lee Shin Cheng, who was Lee’s father.\u003C/p>\u003Cp>\u003Cstrong>Committed to the BLC joint venture\u003C/strong>\u003Cbr>\u003Cbr>BLC’s 4% contribution may look small since it is only an associate, but by disposing of 70% of Loders, IOI Corp has been able to reap the synergies from the enlarged agribusiness group.\u003Cbr>\u003Cbr>IOI Corp’s 2019 annual report showed that BLC reported comprehensive income of RM167.3 million for the year, compared with RM95.9 million in FY2018.\u003Cbr>\u003Cbr>“Definitely, there’s opportunity for synergies. Production synergies through combining plants, marketing synergies – these are quite normal and definitely there. In terms of consumer trends, for specialty fats, we’re going more into the nutrition category. We started off with infant nutrition and milk powder, and now we’re going into elderly care and even pet care,” Lee explains.\u003Cbr>\u003Cbr>BLC has also recently ventured into producing plant-based meat. “We are developing fats to be used in this [business] for certain leading companies. The partnership with Bunge helps because it is an investee in one of these plant-based companies,” Lee says, without offering more details.\u003Cbr>\u003Cbr>The sales and purchase agreement included a five-year call and put option over IOI Corp’s 30% in BLC. Lee says it is speculative to comment on whether IOI Corp will be exercising the option and would only say, “We’re committed to this JV (joint venture) and profit has been increasing.”\u003Cbr>\u003Cbr>\u003Cstrong>Food safety issues equally important\u003C/strong>\u003Cbr>\u003Cbr>As a palm oil producer with a total planted area of 176,156 ha, of which 89.1% are located in Malaysia, IOI Corp has had to deal with its share of allegations of illegal deforestation. Many will remember that in 2016, it sued the Roundtable of Sustainable Palm Oil (RSPO) for suspending its certification over breaches at its Indonesian estates. The suit was eventually dropped and IOI Corp took measures to engage with stakeholders to resolve the matter.\u003Cbr>\u003Cbr>Lee conceded that the allegations were an impetus for the group to act and it has since won accolades in the environmental, social and governance (ESG) investing space. For instance, IOI Corp was included in the FTSE4Good Bursa Malaysia Index and Dow Jones Sustainability Indices in its Annual Sustainability Yearbook 2018, as well as the Carbon Disclosure Project on Forests Programme for having the most improved performance in Southeast Asia and Hong Kong.\u003Cbr>\u003Cbr>“Nationally, we received the Prime Minister’s Hibiscus Award for environmental and safety measures for oleochemicals. So, we are putting ourselves on a good footing in the ESG space,” Lee says.\u003Cbr>\u003Cbr>While stressing that enhancing the sustainability credentials of palm oil is important, Lee says the group also wants to continue improving the quality and food safety aspects of the commodity. He says apart from deforestation, the issues of contaminants such as 3-MCPD and hydrocarbons in palm oil have been raised in Europe.\u003Cbr>\u003Cbr>“We shouldn’t be too obsessed with just addressing the environmental issues because that’s only affecting biodiesel. Fundamentally, palm oil’s major usage is food, so meeting the aspects of food safety is equally important, if not more important,” Lee says, adding that due to the constraints in land expansion, a major driving force in the palm oil industry will be improving the oil yield of existing palm trees.\u003Cbr>\u003Cbr>“This will be done through technology. There are three main themes [for IOI Corp moving forward]: sustainability credentials, meeting quality and food safety aspects and improving yield through technology deployment,” Le says.\u003Cbr>\u003Cbr>He is not worried about the gradual removal of the subsidy for palm oil biofuels in the European Union next year and the phasing out of the use of such fuel there by 2030.\u003Cbr>\u003Cbr>“Palm oil biodiesel can be blocked through the withdrawal of subsidy but for food usage, palm oil does not rely on subsidy. So, it’s been competing on functionality and cost competitiveness. The business is market-driven. Based on the functionalities of palm oil, it is good for frying, free from trans-fat and cost competitive. Palm oil has a place in meeting demand for vegetable oils, particularly for food,” he explains.\u003Cbr>\u003Cbr>In any case, IOI Corp’s Malaysian estates have been certified by the Malaysian Sustainable Palm Oil and RSPO while its Indonesia estates are in the process of being certified by the RSPO.\u003Cbr>\u003Cbr>“Yes, this [certification] is integral to our business model. We’re not just certified, we are also selling the certifications. We are one of the largest sellers of sustainable palm oil,” Lee adds.\u003C/p>\u003Cp>\u003Cstrong>MCO impact on Sabah operations unknown\u003C/strong>\u003Cbr>\u003Cbr>Last week, the Sabah government ordered the closure of oil palm estates and mills in six districts – Kalabakan, Semporna, Kunak, Tawau, Lahad Datu and Kinabatangan – to curb the spread of Covid-19. The areas cover about 780,000 ha and account for 75% of palm oil production in the state.\u003Cbr>\u003Cbr>The order followed a spike in Covid-19 infections in the state, including among estate workers. Estate and mill operations have been exempted from the Movement Control Order (MCO) as the plantation industry is considered an essential sector.\u003Cbr>\u003Cbr>About 64% of IOI Corp Bhd’s oil palm hectarage is in Sabah and Sarawak, mainly the former, the country’s top palm oil-producing state.\u003Cbr>\u003Cbr>When asked about the group’s operations in Sabah, group managing director and chief executive Datuk Lee Yeow Chor says the full impact of the MCO and the state government’s closure order is still unknown.\u003Cbr>\u003Cbr>“At IOI Corp, the health and safety of our employees remain our top priority. We fully support the government’s efforts to curb the spread of Covid-19.\u003Cbr>\u003Cbr>“Operation-wise, we have implemented several precautionary measures and standard operating procedures at our estates to prevent the spread of the virus to our workers. We consistently educate and guide our workers to take protective measures and adhere to rules and regulations. To date, our workers and operations are in safe and good conditions [respectively]. We are fully committed and will continue to work closely with the authorities to undertake the necessary steps to curb the outbreak,” he says in an email response following an interview with \u003Ci>The Edge\u003C/i> (see main story).\u003Cbr>\u003Cbr>In a March 31 note, UOB Kay Hian foresees loss of crude palm oil production in the affected areas to reach 240,000 tonnes a month, translating into a 2% drop in Malaysia’s total production this year. It also says IOI Corp, which is among the palm oil-producing companies it covers, will be affected by the closure order.\u003Cbr>\u003Cbr>“Earnings impact on these companies will range from 1% to 5%, assuming a total crop loss for one month, except Hap Seng Plantations Holdings Bhd, which will see the highest impact of 26% to earning as 95% of its estates are in these [affected] areas,” it adds.\u003C/p>",{"id":109,"name":110},[1925],{"id":14,"name":15},{"name":1927,"file_name":1927,"url":1928},"untitled2.jpg","https://www.ioigroup.com/storage/642/untitled2.jpg","2025-05-04T08:00:14.000000Z",[],{"meta_title":1920,"meta_description":1932,"meta_keywords":28},"Lee: The vision is not a complete redraft [of the existing Vision IOI]. We added new elements and simplified the language.By Jenny NgAny diligent and...",{"id":1934,"title":1935,"date":1936,"body":1937,"source":1938,"type":1939,"image":1941,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1944,"created_at":1914,"content_type":24,"related_news":1945,"metatag":1946},811,"IOI Corp 2Q Profit Up 9%; Declares Four Cents Dividend","2020-02-19T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/IOI%20Group(15).jpg\" alt=\"\">\u003C/p>\u003Cp>KUALA LUMPUR: IOI Corp Bhd’s net profit for the second quarter ended Dec 31, 2019 (2QFY20) rose 9.21% to RM213.5 million, from RM195.5 a year earlier, thanks to higher crude palm oil (CPO) prices. \u003Cbr>\u003Cbr>In a bourse filing, the group said earnings per share (EPS) rose to 3.4 sen from 3.11 sen. \u003Cbr>\u003Cbr>Quarterly revenue increased 3.97% to RM1.96 billion, from RM1.88 billion previously. \u003Cbr>\u003Cbr>IOI declared a dividend of four sen, payable on March 13. This compares with 3.5 sen dividend payout for FY19. \u003Cbr>\u003Cbr>IOI said its plantation segment’s profit stood 49% higher at RM175.3, from RM117.3 million for 2QFY19, due to higher CPO prices, which averaged at RM2,246 a tonne against RM1,932 previously. \u003Cbr>\u003Cbr>Conversely, its resource-based manufacturing segment’s profit fell by 79% to RM29.9 million, from RM139.9 million. However if one were to exclude fair value losses/gains on derivative financial instruments, underlying profit for the segment stood higher at RM122.9 million, from RM121.5 million — as a result of a higher share of associate resulted from Bunge Loders Croklaan Group BV. \u003Cbr>\u003Cbr>This was in turn offset by lower operation contributions from the oleochemical and refining subsegments. \u003Cbr>\u003Cbr>For the first half of the year, IOI’s net profit rose 6.84% to RM362.5 million, from RM339.3 million in the previous corresponding period, translating into a higher EPS of 5.77 sen, from 5.4 sen. \u003Cbr>\u003Cbr>Half-year revenue was marginally lower at RM3.73 billion, from RM3.76 billion previously. \u003Cbr>\u003Cbr>On its prospects, the group said the Covid-19 outbreak and import restrictions on Malaysian refined palm oil in India have been negative factors. \u003Cbr>\u003Cbr>“Going forward, the group expects palm oil price to be volatile due to the uncertainty on the extent and duration of the Covid-19 outbreak, but underpinned by low palm oil inventory and expected higher demand before and during Ramadan in April and May 2020. \u003Cbr>\u003Cbr>“The fresh fruit bunch production for our plantation segment is expected to gradually recover from the low seasonal production cycle in the previous quarter. We expect the plantation segment to perform better than 2QFY20 in line with the relatively stronger palm oil price in 3QFY20,” the group said. \u003Cbr>\u003Cbr>Shares in IOI closed unchanged at RM4.50 yesterday, giving the group a market capitalisation of RM28.28 billion.\u003C/p>",{"id":1273,"name":1274},[1940],{"id":14,"name":15},{"name":1942,"file_name":1942,"url":1943},"ioi_group15.jpg","https://www.ioigroup.com/storage/641/ioi_group15.jpg","2025-05-04T08:00:26.000000Z",[],{"meta_title":1935,"meta_description":1947,"meta_keywords":28},"KUALA LUMPUR: IOI Corp Bhd’s net profit for the second quarter ended Dec 31, 2019 (2QFY20) rose 9.21% to RM213.5 million, from RM195.5 a year earlier,...",{"id":1949,"title":1950,"date":1951,"body":1952,"source":1953,"type":1954,"image":1956,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1959,"created_at":1960,"content_type":24,"related_news":1961,"metatag":1962},810,"Malaysian Palm Oil Group Urges Industry to Tap Tech to Save Forests","2020-02-10T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/Stock2(1).jpg\" alt=\"\">\u003C/p>\u003Cp> \u003C/p>\u003Cp>KUALA LUMPUR: Malaysian palm oil producers must use technology to improve yield and compensate for restrictions on land use, as the industry wrestles with concerns about sustainability, the chairman of the Malaysian Palm Oil Council said on Monday. \u003Cbr>\u003Cbr>Malaysia, the world's second biggest palm oil producer, has set a cap of 6.5 million hectares on the area under palm oil cultivation. In 2019, the total area planted with oil palm in Malaysia was about 5.9 million hectares. \u003Cbr>\u003Cbr>Given the restrictions on expanding into new land, Lee Yeow Chor, chairman of state agency and industry body the Malaysian Palm Oil Council (MPOC), said companies should look at other options to increase output. \u003Cbr>\u003Cbr>\"The emphasis for the palm oil industry should be looking at how to increase the utilisation of technology in order to improve yields,\" Lee told Reuters in an interview. \u003Cbr>\u003Cbr>Lee said the industry was also increasing mechanisation to cut reliance on foreign labour, and seeking to use tissue culture and genomics to make plants deliver more. \u003Cbr>\u003Cbr>Apart from the land issue, frequent droughts and replanting in Sabah, the biggest Malaysian state producing palm oil, will hit output, he said. It takes between three and four years for a plant to produce fruit. \u003Cbr>\u003Cbr>Mohamad Nageeb Abdul Wahab, chief executive of the Malaysian Palm Oil Association - a group representing growers - told Reuters separately the bigger producers were focusing on yield expansion using genome-sequencing. \u003Cbr>\u003Cbr>Palm oil is used in a wide range of products, from snack foods and cosmetics to biodiesel. The commodity is under scrutiny because the producers in Indonesia and Malaysia have in the past cleared forests to make way for oil palm cultivation. \u003Cbr>\u003Cbr>The European Union last year legislated to phase out palm oil in renewable fuel by 2030 because of concerns about deforestation. \u003Cbr>\u003Cbr>The MPOC's Lee said he expected palm oil to come under greater scrutiny because of the European Green Deal, a proposal by the European Commission to make the EU climate neutral by 2050. \u003Cbr>\u003Cbr>\"The best way to overcome bad perception is consistency and continuous improvement. The Malaysian palm oil industry has a good track record in doing that,\" Lee said. \u003Cbr>\u003Cbr>He said he expects the benchmark Malaysian palm oil price to range between 2,800 and 3,100 ringgit per tonne in the next two months, higher than the Monday close of 2,759 ringgit, because of limited supplies.\u003C/p>",{"id":53,"name":54},[1955],{"id":14,"name":15},{"name":1957,"file_name":1957,"url":1958},"stock21.jpg","https://www.ioigroup.com/storage/640/stock21.jpg","2025-05-04T08:00:46.000000Z","2025-05-02T09:53:19.000000Z",[],{"meta_title":1950,"meta_description":1963,"meta_keywords":28}," KUALA LUMPUR: Malaysian palm oil producers must use technology to improve yield and compensate for restrictions on land use, as the industry wrestles...",{"id":1965,"title":1966,"date":1967,"body":1968,"source":1969,"type":1972,"image":1974,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1977,"created_at":1960,"content_type":24,"related_news":1978,"metatag":1979},809,"Case Study of an Oil Palm Company in Malaysia that Found Positive Ways to Retain Workers","2019-12-18T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/Happy%20workers.jpg\" alt=\"\">\u003C/p>\u003Cp>\u003Ci>Earthworm Foundation highlights positive labour practices to retain migrant workers in Malaysia’s palm oil industry.\u003C/i>\u003C/p>\u003Cp>Earthworm Foundation (EF) stresses that positive worker retention strategies in Malaysia’s palm oil industry are a business return and lead to win-win situations for workers and employers. In conjunction with the International Migrants Day on 18th December 2019, EF released a new video which showcases how good practices in line with international labour standards can decrease worker abscondment, increase worker retention and improve communication between workers and management. \u003Cbr>\u003Cbr>These positive commitments come on the heels of \u003Ca href=\"https://www.wsj.com/articles/palm-oil-migrant-workers-tell-of-abuses-on-malaysian-plantations-1437933321\">previous reports\u003C/a> of unfair labour practices in the industry; which in some cases include indicators of forced and bonded labour. In Malaysia, one of the main challenges in the palm oil industry is a shortage of workers. This industry relies heavily on migrant labour, which makes up about \u003Ca href=\"http://palmoilis.mpob.gov.my/publications/OPIEJ/opiejv18n1-azman.pdf\">77 percent\u003C/a> of the plantation workforce. \u003Cbr>\u003Cbr>With the influx of migrant workers from countries such as Indonesia, Bangladesh, India, Nepal and Myanmar, some companies rely on negative retention practices to maintain a steady workforce and to reduce the rates of abscondment. This includes withholding passports, restricting movement, restricting freedom of association, wage deductions without permits or requesting security deposits from workers. \u003Cbr>\u003Cbr>“There is a misconception among employers that these negative retention strategies will reduce migrant worker abscondment. On the contrary, EF has seen, as evidenced in our video, that good practices are more effective at keeping a stable workforce in the long run. This is especially true for companies that implement the ‘No Deforestation, No Peat and No Exploitation (NDPE) policy principle, in which the ‘No Exploitation’ component of NDPE commit to ensuring there is no exploitation of workers or communities where their operations are located,” remarked Natasha Mahendran, Social and Human Rights Manager of EF Malaysia. \u003Cbr>\u003Cbr>The video captures a case study of a palm oil company that has seen abscondment rates drop by almost 30% after adopting intentionally recognised labour and human rights standards in their sustainability policy. Through testimonials from both migrant workers and the management at their sites in Segamat, Johor, the video sheds light on what these positive retention strategies look in practice to guide palm oil and plantation companies. \u003Cbr>\u003Cbr>Moreover, Natasha says that EF hopes that more businesses in this industry will change their labour practices for the better, and reap the rewards. “Essentially, migrant workers are hard-working individuals who are seeking better opportunities for themselves and their families – boosting economic growth in Malaysia and in their countries of origin in the process.”\u003C/p>\u003Cp>For more story, check out EF's findings at IOI's Segamat Estate, Johor on Youtube: \u003Cbr>\u003Cbr>\u003Ci>\u003Cstrong>Respecting People, Retaining Workers\u003C/strong>\u003C/i> \u003Ci>(click \u003C/i>\u003Ca href=\"https://www.youtube.com/watch?v=FrYN7nRGvVE&feature=youtu.be\">\u003Ci>here\u003C/i>\u003C/a>\u003Ci>)\u003C/i>\u003Cbr>\u003Cbr> \u003C/p>",{"id":1970,"name":1971},88,"Earthworm Foundation",[1973],{"id":14,"name":15},{"name":1975,"file_name":1975,"url":1976},"happy_workers.jpg","https://www.ioigroup.com/storage/639/happy_workers.jpg","2025-05-04T08:01:02.000000Z",[],{"meta_title":1966,"meta_description":1980,"meta_keywords":28},"Earthworm Foundation highlights positive labour practices to retain migrant workers in Malaysia’s palm oil industry.Earthworm Foundation (EF) stresses...",{"id":1982,"title":1983,"date":1984,"body":1985,"source":1986,"type":1987,"image":1989,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1992,"created_at":1993,"content_type":24,"related_news":1994,"metatag":1995},808,"Better Future Earnings Expected for IOI Corp on CPO Price Recovery","2019-11-28T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/IOI%20Group(12).jpg\" alt=\"\">\u003C/p>\u003Cp>\u003Cstrong>Maintain hold with a higher target price of RM4.62:\u003C/strong> IOI Corp Bhd’s first quarter of financial year 2020 (1QFY20) revenue was lower by 5.3% year-on-year (y-o-y) at RM1.8 billion due to a lower contribution from its resource-based manufacturing division (-5.8%), partially mitigated by a slightly higher contribution from its plantation division (+3.1%). However, IOI Corp’s profit before tax (PBT), inclusive of a net foreign-currency translation loss on foreign currency-denominated borrowings as well as fair value gains on derivative financial instruments in the resource-based manufacturing division, improved slightly by 1.7% y-o-y to RM198.6 million, attributable to a better performance of the resource-based manufacturing division due to higher sales volume and margins for its refining subsegment, partially offset by lower profit from its plantation division due to weaker crude palm oil (CPO) and palm kernel (PK) average selling prices (ASPs). In 1QFY20, IOI Corp’s CPO and PK ASPs were lower at RM2,014 per tonne and RM1,126 per tonne respectively against RM2,236 per tonne and RM1,766 per tonne in 1QFY19. After excluding foreign exchange (forex) and other one-off items, its core net profit (CNP) declined by 9.3% y-o-y to RM168 million for 1QFY20, accounting for 21% of our previous forecast and 20% of the street’s expectation for FY20. \u003Cbr>\u003Cbr>IOI Corp’s revenue increased by 2.1% quarter-on-quarter (q-o-q) to RM1.8 billion for 1QFY20, while PBT surged by over 100% q-o-q to RM198.6 million. The higher profit was due to better performances of the plantation and resource-based manufacturing divisions. After excluding forex and other one-off items, its CNP increased by 8.7% q-o-q to RM168 million for 1QFY20. \u003Cbr>\u003Cbr>We expect IOI Corp’s future earnings to improve, mainly driven by a recovery in CPO prices. We raise our core earnings per share estimates by 5%-11% for FY20-FY22 after taking into account a higher contribution from the plantation division. For IOI Corp, we expect CPO prices to average RM2,350-RM2,650 per tonne for FY20-FY22, up from RM2,250-RM2,450 per tonne previously. In our view, growth in demand for palm oil products should be stronger than the production growth rate. This should help lower the global palm oil inventory level and boost prices. — Affin Hwang Capital, Nov 27\u003C/p>",{"id":1273,"name":1274},[1988],{"id":14,"name":15},{"name":1990,"file_name":1990,"url":1991},"ioi_group12.jpg","https://www.ioigroup.com/storage/638/ioi_group12.jpg","2025-05-04T08:01:36.000000Z","2025-05-02T09:53:18.000000Z",[],{"meta_title":1983,"meta_description":1996,"meta_keywords":28},"Maintain hold with a higher target price of RM4.62: IOI Corp Bhd’s first quarter of financial year 2020 (1QFY20) revenue was lower by 5.3% year-on-yea...",{"id":1998,"title":1999,"date":2000,"body":2001,"source":2002,"type":2003,"image":2005,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2008,"created_at":2009,"content_type":24,"related_news":2010,"metatag":2011},807,"IOI Corp Kicks Off FY20 on a Positive Note","2019-11-26T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/IOI%20Group(11).jpg\" alt=\"\">\u003C/p>\u003Cp>KUALA LUMPUR (Nov 26): IOI Corp Bhd’s net profit rose 3.6% to RM149 million for its first financial quarter ended Sept 30, 2019 (1QFY20) from RM143.8 million a year ago, mainly due to higher contribution from its resource-based manufacturing segment. \u003Cbr>\u003Cbr>This resulted in a higher earnings per share of 2.37 sen for 1QFY20 compared with 2.29 sen for 1QFY19. \u003Cbr>\u003Cbr>Revenue for the quarter, however, fell 5.3% to RM1.78 billion from RM1.88 billion a year ago. \u003Cbr>\u003Cbr>In a bourse filing today, the plantation group said the resource-based manufacturing segment profit rose 6% to RM136.5 million in 1QFY20 from RM129.2 million in 1QFY19. \u003Cbr>\u003Cbr>\"The higher profit is due mainly to higher sales volume and margins from refining sub-segment and higher share of associate results from Bunge Loders Croklaan Group BV. This was offset by lower sales volume and margins from oleochemical sub-segment,\" it added. \u003Cbr>\u003Cbr>On prospects, IOI expects its operating performance for the remaining period of its financial year ending June 30, 2020 (FY20) to be satisfactory. \u003Cbr>\u003Cbr>For its plantation segment, IOI expects it to perform better for the remaining period of FY20 in view of bullish palm oil prices. “Palm oil price has moved up significantly since October due to lower than expected production and strong export drawing down palm oil stocks,” it said. \u003Cbr>\u003Cbr>As for the resource-based manufacturing segment, the group anticipates the operating environment to remain challenging amid the global economic slowdown. \u003Cbr>\u003Cbr>IOI also expects its medium to long term US dollar-denominated borrowings will continue to remain volatile as a result of the US-China trade war and the continuing uncertainties faced by Asian currencies over the US Federal Reserve interest rate policy. \u003Cbr>\u003Cbr>IOI shares closed unchanged at RM4.45 today, valuing it at RM27.98 billion.\u003C/p>",{"id":1273,"name":1274},[2004],{"id":14,"name":15},{"name":2006,"file_name":2006,"url":2007},"ioi_group11.jpg","https://www.ioigroup.com/storage/637/ioi_group11.jpg","2025-05-04T08:01:52.000000Z","2025-05-02T09:53:14.000000Z",[],{"meta_title":1999,"meta_description":2012,"meta_keywords":28},"KUALA LUMPUR (Nov 26): IOI Corp Bhd’s net profit rose 3.6% to RM149 million for its first financial quarter ended Sept 30, 2019 (1QFY20) from RM143.8...",{"id":2014,"title":2015,"date":2016,"body":2017,"source":2018,"type":2019,"image":2021,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2024,"created_at":2009,"content_type":24,"related_news":2025,"metatag":2026},806,"IOI Corp Unit Buying Stakes in Bumitama Associates","2019-11-15T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/IOI-Bumitama.jpg\" alt=\"\">\u003C/p>\u003Cp> \u003C/p>\u003Cp>KUALA LUMPUR (Nov 15): IOI Corp Bhd's wholly-owned subsidiary Oleander Capital Resources Pte Ltd is buying a 28% stake each in PT Sawit Nabati Agro (SNA) and PT Berkat Agro Sawitindo (BAS) from Singapore-listed Bumitama Agri Ltd for IDR701 million (approximately US$49,070 / RM203,798). \u003C/p>\u003Cp>Bursa Malaysia-listed IOI Corp owns a 32.03% stake in Bumitama as at March 11, 2019, according to Bumitama's latest annual report. \u003Cbr>\u003Cbr>Bumitama executive chairman and CEO Lim Gunawan Hariyanto said yesterday in a statement to the Singapore bourse that upon completion of the proposed sale of SNA and BAS to Oleander, both SNA and BAS will cease to be associated companies of Bumitama. \u003Cbr>\u003Cbr>\"The aggregate consideration for the sale of the sale shares is IDR701 million (approximately US$49,070), which is payable in full by Oleander to the company in cash on completion of the sale. The consideration was mutually determined between the company and Oleander on an arm’s length basis, taking into account the indicative value of 28% interest in both SNA and BAS based on the valuation conducted by the independent valuer, KJPP Rengganis, Hamid & Rekan,\" Lim said. \u003Cbr>\u003Cbr>\"As at 30 June 2019, the book value and net tangible asset value of the sale shares is IDR701 million (approximately USD$49,070). The open market value of the sale shares is not available as the shares of SNA and BAS are not publicly traded. KJPP Rengganis, Hamid & Rekan was appointed by the company to conduct an independent valuation on SNA and BAS. Based on their valuation report dated 19 August 2019, and based on the discounted cash flow method and adjusted book value method, the value of 28% interest in SNA as at 31 December 2018 is a negative value, whereas the value of 28% interest in BAS as at 31 December 2018 is IDR218 million (approximately US$15,260),\" Lim said. \u003Cbr>\u003Cbr>At Bursa today, IOI Corp's share price rose one sen or 0.23% at 2:38pm to RM4.41 for a market value of RM27.65 billion. IOI Corp saw 1.02 million shares traded.\u003C/p>",{"id":1273,"name":1274},[2020],{"id":14,"name":15},{"name":2022,"file_name":2022,"url":2023},"ioi_bumitama.jpg","https://www.ioigroup.com/storage/636/ioi_bumitama.jpg","2025-05-04T08:02:04.000000Z",[],{"meta_title":2015,"meta_description":2027,"meta_keywords":28}," KUALA LUMPUR (Nov 15): IOI Corp Bhd's wholly-owned subsidiary Oleander Capital Resources Pte Ltd is buying a 28% stake each in PT Sawit Nabati Agro (...",{"id":2029,"title":2030,"date":2031,"body":2032,"source":2033,"type":2034,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2036,"created_at":2036,"content_type":24,"related_news":2037,"metatag":2038},805,"IOI PELITA LAND DISPUTE RESOLUTION PROCESS: Third Joint Statement by IOI & Grassroots","2019-10-23T00:00:00.000000Z","\u003Cdiv>It has been a year since IOI’s Resolution Plan received a conditional endorsement from the Complaints Panel (CP) of the RSPO.  Since then IOI - guided by the CP, advised by Grassroots and with regular input from other stakeholders - made significant progress, details of which have been regularly reported on IOI’s webpage dedicated to IOI Pelita land dispute.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>In this 3rd joint statement, in addition to summarizing the progress, IOI and Grassroots would like to share some insights, which might provide an important context to a better understanding of the cultural, social and even logistical challenges which IOI and partners have to overcome.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cspan style=\"text-decoration: underline;\">\u003Cstrong style=\"text-decoration-line: underline;\">Progress\u003C/strong>\u003C/span>\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>IOI’s Resolution Plan consists of 3 stages: Community Capacity Building, Community Participatory Mapping, and Negotiations for the final settlement. In May 2019, IOI completed the 1st stage: Community Capacity Building.  The 2nd stage, Community Participatory Mapping, is being currently implemented and on schedule for completion in November 2019.  A Sarawak-based NGO called CICOM provided the invaluable contribution into the implementation of both stages. As soon as the Community Participatory Mapping is done and the affected communities’ grievances mapped and documented, IOI will launch the 3rd and final stage: Negotiations for the Final Settlement. IOI and Grassroots expect this final stage to be initiated in early 2020.\u003Cbr />\u003Cbr />\u003C/div>\u003Cdiv>\u003Cspan style=\"text-decoration: underline;\">\u003Cstrong style=\"text-decoration-line: underline;\">Importance of due process and proper socialization\u003C/strong>\u003C/span>\u003Cbr />\u003Cbr />\u003C/div>\u003Cdiv>Soon after the Resolution Plan received the conditional endorsement of the CP in June 2018, IOI and Grassroots together with an RSPO representative conducted the first round of in-field meetings and socialization sessions with the longhouses. The socialization process continued for several months and took on different forms. One of the challenges IOI faced in that respect was the fact that the communities, and also some stakeholders, mistook the Resolution Plan for IOI’s offer of settlement. It took significant effort for IOI to explain and ensure communities and other stakeholders understand the Resolution Plan simply meant a road map - an outline of a process at the end of which IOI would propose an offer.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Having witnessed over the last 20 years multiple attempts by various parties to resolve the conflict, the communities were sceptical, impatient and reluctant to go through a lengthy process of community capacity building and community participatory mapping. They wanted to hear as soon as possible what IOI had to offer in terms of compensation.  IOI explained the reasons for how the Resolution Plan was designed so that communities and other stakeholders had clear understanding of where the process was leading towards and what role FPIC was to play in it.  Specifically, IOI had to explain that before we get to the final stage, we have to first build communities’ capacity to understand all matters related to the case, and then to assist them in identifying, mapping and documenting their claims and issues through the community participatory mapping.  Only then the negotiations for the final settlement could start and be conducted in a fair, transparent, inclusive and effective manner. It was challenging for IOI and partners (including NGOs) to convince the affected communities that it was in their long-term interest to participate in the RSPO dispute resolution process, even if it would necessitate more time and delay the final settlement. \u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cstrong>\u003Cspan style=\"text-decoration: underline;\">Free Prior & Informed Consent: time-consuming but key\u003Cbr />\u003Cbr />\u003C/span>\u003C/strong>\u003C/div>\u003Cdiv>The first immediate goal for IOI was to obtain Free Prior and Informed Consent (FPIC) from all 9 affected communities for the implementation of the IOI’s Resolution Plan. This task proved to be a challenge and it took IOI eight months to accomplish it. There were many reasons:\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>-\tThe affected communities were going through the FPIC process for the first time;\u003C/div>\u003Cdiv>-\tThe trust between IOI and communities had yet to be established; and,\u003C/div>\u003Cdiv>- The community leaders felt uncomfortable with the burden of responsibility for signing the FPIC form on behalf of their community. They felt particularly uneasy about putting things in writing!\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>IOI held dozens of meetings with each community and their leaders to explain the implications of their signing of the consent form. Arranging these meetings proved challenging, too. Most longhouses have no internet, telephone lines or cellular connection. Their leaders often move between Miri and their longhouses - making appointments difficult, sometimes taking a couple of weeks. Furthermore, physically getting to their locations was difficult due to the long distance and generally poor road conditions, especially during the raining season when roads are frequently flooded and impassable.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>During the socialization period and while waiting for communities’ consent, IOI ensured the 9 communities had access to any advice they needed. They consulted legal advisers and sometimes even their political leaders.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>It took most of the communities 3-4 months to reach some internal consensus or a tentative position before verbally agreeing. Then it was an additional couple of months before consent was officially signed off on the consent forms. The last community provided its consent only 8 months later, in March 2019. IOI, needing all 9 communities’ consent in order to proceed with the Resolution Plan implementation, had to wait for that last community to be able to start the implementation process. Obtaining FPIC from all 9 communities required significant investment in engaging communities and took a long time, but was worth the effort because, at the end of it, the affected communities became truly committed to the resolution process outlined in the Resolution Plan.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cspan style=\"text-decoration: underline;\">\u003Cstrong style=\"text-decoration-line: underline;\">Community Capacity Building and Community Participatory Mapping: lessons learned\u003C/strong>\u003C/span>\u003Cbr />\u003Cbr />\u003C/div>\u003Cdiv>These two activities are the cornerstones and pre-requisites to negotiations. They required a competent third party, with these ideal characteristics:\u003Cbr />\u003Cbr />\u003C/div>\u003Cdiv>-\t familiarity with locality, local customs and language;\u003C/div>\u003Cdiv>-\tawareness about the IOI Pelita dispute itself;\u003C/div>\u003Cdiv>-\tcompetence in implementing FPIC principles and other RSPO P&C requirements; \u003C/div>\u003Cdiv>-\tstrong technical expertise in GIS mapping for Community Participatory Mapping; and,\u003C/div>\u003Cdiv>-\tpositive organizational profile in the eyes of the communities.  \u003Cbr />\u003Cbr />\u003C/div>\u003Cdiv>IOI was fortunate to find and engage such an outfit:  the Community Information and Communication Centre (CICOM), which consists of two local NGOs familiar with IOI Pelita case and having the technical skills and experience in the community participatory mapping. Most importantly, CICOM enjoyed trust of the affected communities who gave CICOM their consent to conduct both community capacity building and community participatory mapping. \u003Cbr />\u003Cbr />\u003C/div>\u003Cdiv>One of the lessons we learnt from the community capacity building is that not all community members have the capacity to comprehend or are interested in the RSPO P&C, FPIC principle, or legal aspects of the dispute.  Therefore, community capacity building had to combine large meetings with the members of an entire longhouse as well as several smaller meetings or discussions with the leaders and those with strong interest or capacity to process the information. Communities’ close interaction with CICOM helped them to bridge any remaining gaps of knowledge, conceptualization and language, resulting in a better comprehension of all nuances related to the implementation of the Resolution Plan. Another important lesson is that the community capacity building is an on-going process and should be continued on as needed basis throughout the entire dispute resolution process.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cspan style=\"text-decoration: underline;\">\u003Cstrong style=\"text-decoration-line: underline;\">Ex gratia payment: trust and momentum building\u003C/strong>\u003C/span>\u003Cbr />\u003Cbr />\u003C/div>\u003Cdiv>In addition to practically completing 2 out of 3 stages of the Resolution Plan, IOI also conducted an individual land plot survey exercise to identify the remaining community members who were yet to receive the ex gratia payment for the land they occupied prior to the establishment of IOI Pelita’s Provisional Lease. The exercise successfully identified and documented 35 outstanding cases that were then processed for settlement. The ex gratia payment event was conducted on September 5, 2019 in Miri at the Grand Palace Hotel and was witnessed by local authorities and community leaders.  IOI reiterated to the recipients that the ex gratia payment did not mean that they would be giving up their right to make further claims during the negotiation stage of the resolution process.  The payment of ex gratia to these last remaining farmers was an important milestone in terms of ensuring parity among all affected individuals ahead of the start of the negotiations. It was also a tangible action by IOI to demonstrate willingness to produce a win-win outcome.  The entire exercise was seen as crucial in terms of building trust, momentum and good will between the company and the communities. \u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cspan style=\"text-decoration: underline;\">\u003Cstrong style=\"text-decoration-line: underline;\">What to expect next?\u003C/strong>\u003C/span>\u003Cbr />\u003Cbr />\u003C/div>\u003Cdiv>Once the Community Participatory Mapping is completed, IOI will proceed with the final stage and negotiate the final settlement. For the affected communities, securing their land rights is the most important aspiration. However, IOI is only a leaseholder, and the Sarawak Government holds authority over land matters.  Even if IOI wish to excise some land in favour of local communities, ultimately it will be government’s decision.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>The success of the resolution process will depend on the willingness of all affected parties to compromise and consider a resolution that must find a balance between short-term gains, individual aspirations and a prosperous future for the community as a whole. In that respect, solving the intra-communal overlapping land claims will be of the critical importance.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>IOI and Grassroots have come a long way on this journey and will continue to work together to bring this longstanding dispute to a closure in a manner that is fair and equitable to the communities,  the state government, and IOI.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>",{"id":1821,"name":1822},[2035],{"id":922,"name":1822},"2025-05-02T09:53:13.000000Z",[],{"meta_title":2030,"meta_description":2039,"meta_keywords":28},"It has been a year since IOI’s Resolution Plan received a conditional endorsement from the Complaints Panel (CP) of the RSPO. Since then IOI - guided...",{"id":2041,"title":2042,"date":2043,"body":2044,"source":2045,"type":2046,"image":2048,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2051,"created_at":2052,"content_type":24,"related_news":2053,"metatag":2054},803,"IOI Wins Three at The Edge Billion Ringgit Club Awards","2019-09-19T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"height:382px;width:900px;\" src=\"https://www.ioigroup.com/Files/News/image/1(1).jpg\" alt=\"\">\u003C/p>\u003Cp>On 19 September 2019, IOI Corporation Berhad (IOI) won three prestigious awards at The Edge Billion Ringgit Club Corporate Awards 2019 at its grand presentation ceremony. \u003Cbr> \u003C/p>\u003Cp>IOI received the coveted \u003Cstrong>Best CR Initiatives for Big Cap Companies \u003C/strong>award, the \u003Cstrong>Highest Growth in Profit After Tax Over Three Years\u003C/strong> award and the \u003Cstrong>Highest Return in Equity Over Three Years\u003C/strong> award for plantation sector. \u003Cbr>\u003Cbr>The Best CR Initiatives award is a testament to IOI’s corporate responsibility efforts and community empowerment projects that are spearheaded by IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) while the Highest Growth in Profit award affirms IOIC’s consistent growth over the past three financial years. The Return in Equity award recognises IOI’s efforts in delivering sustainable value and returns to its shareholders.\u003C/p>\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/3(1).jpg\" alt=\"\">\u003Cbr> \u003C/p>\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/2(1).jpg\" alt=\"\">\u003C/p>\u003Cp>\u003Cbr>IOI Group Chief Financial Officer Mr Lee Tuan Meng and IOI Group Financial Controller Mr Kong Kian Beng received the coveted awards on behalf of the company from The Edge Media Group Publisher and CEO Datuk Ho Kay Tat during a ceremony cum gala dinner held at Sheraton Hotel, Petaling Jaya. \u003Cbr>\u003Cbr>Prime Minister Tun Dr Mahathir Mohamad graced the event, which started 10 years ago to honour Malaysia’s top performing companies, and continues to encourage Malaysian companies to be even better at what they do, to grow, to invest, to create jobs as well as be socially responsible. \u003Cbr>\u003Cbr> \u003C/p>",{"id":1002,"name":1003},[2047],{"id":14,"name":15},{"name":2049,"file_name":2049,"url":2050},"11.jpg","https://www.ioigroup.com/storage/634/11.jpg","2025-05-04T08:02:26.000000Z","2025-05-02T09:53:12.000000Z",[],{"meta_title":2042,"meta_description":2055,"meta_keywords":28},"On 19 September 2019, IOI Corporation Berhad (IOI) won three prestigious awards at The Edge Billion Ringgit Club Corporate Awards 2019 at its grand pr...",{"id":2057,"title":2058,"date":2059,"body":2060,"source":2061,"type":2062,"image":2064,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2036,"created_at":2036,"content_type":24,"related_news":2067,"metatag":2068},804,"IOI PELITA LAND DISPUTE RESOLUTION PROCESS : IOI Pelita Ex Gratia Payment Event 2019","2019-09-16T00:00:00.000000Z","\u003Cp style=\"text-align: justify; margin: 0pt 0pt 12pt; line-height: 1.3;\">\u003Cspan style=\"font-family: helvetica, arial, sans-serif; font-size: 12pt;\">On September 5, 2019, IOI Pelita organized an event to handover cheques to 25 farmers who have not yet received the ex gratia payment (token of goodwill) for the plots of land they had occupied before the IOI Pelita Provisional Lease was established.\u003C/span>\u003C/p>\r\n\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/IOI-Pelita-Ex-Gratia-Payment-Event-2019-1.png\" width=\"448\" height=\"280\" alt=\"\" />\u003C/div>\r\n\u003Cp style=\"text-align: justify; margin: 0pt 0pt 12pt; line-height: 1.3;\">\u003Cspan style=\"font-size: 12pt; font-family: helvetica, arial, sans-serif;\">The ex gratia payment was an important milestone in the implementation of the dispute resolution process.  It was one of the key requests voiced by the affected communities, and for IOI Pelita it was possible to address it without waiting for the negotiation stage of the Resolution Plan. This is because these payments are linked to initial greenfield establishment and the negotiations (based on the Resolution Plan) would benefit from reducing past conflicts or disagreements while building trust between IOI Pelita and the communities. \u003C/span>\u003C/p>\r\n\u003Cp style=\"text-align: justify; margin: 0pt 0pt 12pt; line-height: 1.3;\">\u003Cspan style=\"font-size: 12pt; font-family: helvetica, arial, sans-serif;\">At the beginning of the resolution process, in their discussions with IOI Pelita, communities claimed that there were still some farmers who have not received the ex gratia payment yet. In response, IOI Pelita asked these remaining farmers to submit their claims, which were then verified against IOI Pelita’s records of the past ex gratia payments. In the next step, IOI Pelita invited the validated claimants to come to the field to identify the location and boundary of the land in question. This was usually done in the presence of a village head and claimant’s neighbours to authenticate, validate and map the location and size of the land. This was important so that these land parcels are not disputed among the members of the community. \u003C/span>\u003C/p>\r\n\u003Cp style=\"text-align: justify; margin: 0pt 0pt 12pt; line-height: 1.3;\">\u003Cspan style=\"font-size: 12pt; font-family: helvetica, arial, sans-serif;\">The results of this survey were socialized among the community members and adjusted based on their comments. Finally, 34 farmers were confirmed as recipients, out of which 25 decided to accept the payment at the soonest and the remaining 9 opted to receive it at the negotiation stage of the conflict resolution process. To ensure transparency, IOI Pelita developed a brochure which explained what ex gratia payment was and stressed the fact that by accepting the ex gratia payment a community member was not forgoing her/his right to present further claims during the negotiation stage. \u003C/span>\u003C/p>\r\n\u003Cp style=\"text-align: justify; margin: 0pt 0pt 12pt; line-height: 1.3;\">\u003Cspan style=\"font-size: 12pt; font-family: helvetica, arial, sans-serif;\">The ex gratia payment event was held in the presence of government officials representing Chief Minister of Sarawak, Ministry of Modernisation of Agriculture, Native Land and Regional Development of Sarawak (MANRED), Ministry for Local Government and Housing of Sarawak, Residen of Miri, District Office, and Pelita. In addition to the payment recipients, community leaders (Ketua Kaum) from the affected communities were also present to witness the ceremony.\u003C/span>\u003C/p>\r\n\u003Cp style=\"margin: 0pt 0pt 8pt; line-height: 1.07917; text-align: center;\">\u003Cspan style=\"background-color: #ffffff; font-family: helvetica, arial, sans-serif; font-size: 12pt;\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/IOI-Pelita-Ex-Gratia-Payment-Event-2019-2.png\" width=\"448\" height=\"280\" alt=\"\" />\u003Cbr />\u003C/span>\u003C/p>",{"id":1821,"name":1822},[2063],{"id":922,"name":1822},{"name":2065,"file_name":2065,"url":2066},"ioi_pelita_ex_gratia_payment_event_2019_1.png","https://www.ioigroup.com/storage/635/ioi_pelita_ex_gratia_payment_event_2019_1.png",[],{"meta_title":2058,"meta_description":2069,"meta_keywords":28},"On September 5, 2019, IOI Pelita organized an event to handover cheques to 25 farmers who have not yet received the ex gratia payment (token of goodwi...",{"id":2071,"title":2072,"date":2073,"body":2074,"source":2075,"type":2078,"image":2080,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2083,"created_at":2052,"content_type":24,"related_news":2084,"metatag":2085},802,"Congratulations, Winners of LoveMYPalmOil90!","2019-08-19T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/20190817_112359%20(edited%20-%20resized_v2)(3).jpg\" alt=\"\">\u003C/p>\u003Cp>It was a regular Saturday morning at IOI City Mall except for the participants waiting in anticipation for the results of the Love MY Palm Oil 90 short film contest.\u003C/p>\u003Cp>The creativity of our youth was unleashed! And our judges had a tough time selecting the winners among the 72 short films submitted -- view them all \u003Ca href=\"https://lovemypalmoil90.com/results/\">here\u003C/a>.\u003C/p>\u003Cp>The contest, which ran from 15 May to 28 July 2019, was part of the year-long Love My Palm Oil campaign organised by Malaysian Palm Oil Council (MPOC) in collaboration with IOI Corporation Berhad to instil a greater sense of appreciation as well as national pride in Malaysian palm oil.\u003C/p>\u003Cp>In her speech during the prize giving ceremony, Minister of Primary Industries YB Teresa Kok said, \"the contest allowed young minds of our next generation to share with the nation the benefits and positive impact that palm oil have on both the nation and our individual wellbeing, through short films.\"\u003C/p>\u003Cp>MPOC chairman and IOI Corporation CEO Dato' Lee Yeow Chor said it was an honour to witness such a great pool of young local talents who have created their most original and creative 90-second short films on palm oil. The contest achieved its target of reaching out to the mostly young and ICT-savvy segment of the Malaysian society.\u003C/p>\u003Cp>And the winners are....\u003C/p>\u003Cp>\u003Cstrong>Grand prize (RM10,000): \u003C/strong>\u003Ci>\u003Cstrong>The Environmentalist\u003C/strong>\u003C/i>\u003Cstrong> \u003C/strong>by Izzudin Saedon \u003Ci>(click \u003C/i>\u003Ca href=\"https://www.youtube.com/watch?v=okjB_qkOfks\">\u003Ci>here\u003C/i>\u003C/a>\u003Ci>)\u003C/i>\u003Cbr>\u003Cbr>\u003Cstrong>1st runner up (RM5,000): \u003C/strong>\u003Ci>\u003Cstrong>Earth Year 2576\u003C/strong>\u003C/i>\u003Cstrong> \u003C/strong>by Sashvin Raj Batumalai \u003Ci>(click \u003C/i>\u003Ca href=\"https://www.youtube.com/watch?v=udxn8q3ESSU\">\u003Ci>here\u003C/i>\u003C/a>\u003Ci>)\u003C/i>\u003Cbr>\u003Cbr>\u003Cstrong>2nd runner up (RM2,500): \u003C/strong>\u003Ci>\u003Cstrong>Hari-Hari Seorang Pemalas \u003C/strong>\u003C/i>by Anomalist Production \u003Ci>(click \u003C/i>\u003Ca href=\"https://www.youtube.com/watch?v=UyYfl4Qxl2c\">\u003Ci>here\u003C/i>\u003C/a>\u003Ci>)\u003C/i>\u003Cbr>\u003Cbr>These top 3 winning videos will be professionally remade to be included as part of the Love MY Palm Oil campaign. \u003Cbr> \u003C/p>\u003Cp>\u003Cstrong>Special mentions: \u003C/strong>\u003C/p>\u003Cp>\u003Ci>\u003Cstrong>Generosity\u003C/strong> \u003C/i>by Sivanesan Ramdass \u003Ci>(click \u003C/i>\u003Ca href=\"https://www.youtube.com/watch?v=kB_ITomwU1o&feature=youtu.be\">\u003Ci>here\u003C/i>\u003C/a>\u003Ci>)\u003C/i>\u003Cbr>\u003Cbr>\u003Ci>\u003Cstrong>Old Man. Oil Palm\u003C/strong>\u003C/i>\u003Cstrong> \u003C/strong>by 48hrs Liver Boomed \u003Ci>(click \u003C/i>\u003Ca href=\"https://www.youtube.com/watch?v=Z9iYR3XS-cg&feature=youtu.be\">\u003Ci>here\u003C/i>\u003C/a>\u003Ci>)\u003C/i>\u003Cbr>\u003Cbr>\u003Ci>\u003Cstrong>The Accused\u003C/strong>\u003C/i>\u003Cstrong> \u003C/strong>by Cinelens Studios \u003Ci>(click \u003C/i>\u003Ca href=\"https://www.youtube.com/watch?v=_Bu3OXYKUBk&feature=youtu.be\">\u003Ci>here\u003C/i>\u003C/a>\u003Ci>)\u003C/i>\u003Cbr>\u003Cbr>\u003Ci>\u003Cstrong>Palm Oil Brother Nature\u003C/strong>\u003C/i>\u003Cstrong> \u003C/strong>by The Last Minute Men \u003Ci>(click \u003C/i>\u003Ca href=\"https://www.youtube.com/watch?v=icAH-JBjEdk&feature=youtu.be\">\u003Ci>here\u003C/i>\u003C/a>\u003Ci>)\u003C/i>\u003Cbr>\u003Cbr>\"The Love MY Palm Oil campaign, and in particular this short film contest, is a great opportunity to educate the public regarding the truth about palm oil,\" Lee said. \u003Cbr>\u003Cbr>Kok said the Love MY Palm Oil campaign has garnered a lot of support not only from the members of the Malaysian palm oil industry but also various organisations, associations, and chambers of commerce. \u003Cbr>\u003Cbr>\"Their ‘buy-in’ and confidence in the Love MY Palm Oil campaign and what we are trying to achieve is very important in ensuring the success of this campaign. Indeed, their support and assistance in promoting this campaign have helped us create greater awareness among the general public and target groups about Malaysian palm oil,\" Kok said. \u003Cbr>\u003Cbr>\"We hope that the public will be exposed to the truth about palm oil and that palm oil will gain greater acceptance in the world as a nutritious, healthy as well as sustainable oil,\" Lee said, adding that adding that during the months of July and August, IOI Corporation also sponsored the installation of buntings and posters at various parts of IOI City Mall to highlight the various benefits and uses of palm oil.\u003C/p>",{"id":2076,"name":2077},86,"MalaysiaKini",[2079],{"id":14,"name":15},{"name":2081,"file_name":2081,"url":2082},"20190817_112359_edited_resized_v23.jpg","https://www.ioigroup.com/storage/633/20190817_112359_edited_resized_v23.jpg","2025-05-04T08:02:40.000000Z",[],{"meta_title":2072,"meta_description":2086,"meta_keywords":28},"It was a regular Saturday morning at IOI City Mall except for the participants waiting in anticipation for the results of the Love MY Palm Oil 90 shor...",{"id":2088,"title":2089,"date":2090,"body":2091,"source":2092,"type":2093,"image":2095,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2098,"created_at":2099,"content_type":24,"related_news":2100,"metatag":2101},800,"Primary Industries Ministry Driving Efforts towards Sustainable Oil Palm Cultivation","2019-08-17T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/20190817_113523%20(edited%20-%20resized).jpg\" alt=\"\">\u003C/p>\u003Cp>PUTRAJAYA, Aug 17 (Bernama) - - The Primary Industries Ministry is working towards sustainable oil palm cultivation to show the world that oil palm plantations, wildlife conservation and forestry can coexist in Malaysia. \u003Cbr>\u003Cbr>Its Minister Teresa Kok said the government was also working hard to encourage oil palm growers to obtain the Malaysian Sustainable Palm Oil Certification (MSPO) and reforestation efforts by planting one million trees at the Pin Supu Forest Reserve in Sabah. \u003Cbr>\u003Cbr>\"To counter false accusations, we must work hard on the MSPO because we want our growers to follow good agriculture practices and show the world that in planting (oil palm), we abide by the law and international practices,\" she told reporters after the prize giving ceremony for the \"Love MY Palm Oil 90 Short Film\" contest, here today. \u003Cbr>\u003Cbr>Also present was IOI Corp Bhd's group managing director and chief executive, Datuk Lee Yeow Chor, who is also chairman of the Malaysian Palm Oil Council. \u003Cbr>\u003Cbr>Kok said people, particularly from Europe, should come to Malaysia to observe the oil palm plantations and best efforts to protect wildlife. \u003Cbr>\u003Cbr>\"Many decision makers in Europe have never visited this part of the region or Malaysia and Indonesia. They make decisions based on hearsay and what non-governmental organisations state. They should come and see themselves,\" she added. \u003Cbr>\u003Cbr>Kok said Malaysian palm oil is well-known for its high quality, consistent and uninterrupted supply and sustainable practices. \u003Cbr>\u003Cbr>\"Despite all its contributions, the palm oil industry is continuously linked to deforestation and loss of biodiversity. \u003Cbr>\u003Cbr>\"Anti-palm oil campaigns, misconstrued facts and trade protectionism on domestically produced oils, particularly in the European Union, have misled the European Parliament to phase out the use of palm-based biofuel in the transportation sector by 2030,\" she said. \u003Cbr>\u003Cbr>Therefore, Kok said the Malaysian government through her ministry and supported by other ministries and agencies would continue to engage with the European stakeholders to counter the false allegations concerning palm oil with credible scientific facts to ward off the threat that affects trade in it. \u003Cbr>\u003Cbr>Meanwhile, Lee also agreed with Kok's statement that many people lacked understanding on Malaysia's palm oil industry and should observe it for themselves. \u003Cbr>\u003Cbr>He pointed out the recent visit by British actress Dame Judi Dench to Sabah to film a documentary, and discovered how complex the palm oil industry was and the communities that depends on it for their livelihood. \u003Cbr>\u003Cbr>It was reported, Judi felt thankful that there are all sorts of ways of working together to protect what’s left of the forest, and help animals survive in a changing environment. \u003Cbr>\u003Cbr>Judi was in Sabah to film a two-part series for “ITV : Judi Dench’s Wild Borneo Adventure”, and explored Danum Valley, the Lower Kinabatangan and Sepilok Orang Utan Rehabilitation Center. \u003Cbr>\u003Cbr>Lee said palm oil is the national commodity responsible for the livelihood of 650,000 oil palm smallholders and had made enormous economic contribution to the country and the world. \u003Cbr>\u003Cbr>On the contest, seven winners were selected out of 70 videos submitted on a creative 90-second short film on palm oil. \u003Cbr>\u003Cbr>The first prize of RM10,000 was won by Izzudin Saedon with his short film titled, \"The Environmentalist\", with the second prize of RM5,000 bagged by Sashvin Raj Batumalai with his video, \"Earth Year 2576\". \u003Cbr>\u003Cbr>Azmi Hud walked away with the third prize of RM2,500 with his entry, \"Hari-Hari Seorang Pemalas\". \u003C/p>",{"id":560,"name":561},[2094],{"id":14,"name":15},{"name":2096,"file_name":2096,"url":2097},"20190817_113523_edited_resized.jpg","https://www.ioigroup.com/storage/631/20190817_113523_edited_resized.jpg","2025-05-04T08:02:56.000000Z","2025-05-02T09:53:11.000000Z",[],{"meta_title":2089,"meta_description":2102,"meta_keywords":28},"PUTRAJAYA, Aug 17 (Bernama) - - The Primary Industries Ministry is working towards sustainable oil palm cultivation to show the world that oil palm pl...",{"id":2104,"title":2105,"date":2106,"body":2107,"source":2108,"type":2109,"image":2111,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2114,"created_at":2099,"content_type":24,"related_news":2115,"metatag":2116},799,"IOI Corp’s Fourth-Quarter Net Profit Jumps 30% to RM46.6m","2019-08-15T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/IOI%20Group(5).jpg\" alt=\"\">\u003C/p>\u003Cp>KUALA LUMPUR (Aug 15): IOI Corp Bhd’s net profit for the fourth quarter ended June 30, 2019 (4QFY19) rose by 30% year-on-year to RM46.6 million from RM35.8 million, despite a slight dip in revenue, with earnings mainly lifted by lower net foreign currency translation losses on its borrowings and deposits. \u003Cbr>\u003Cbr>This raised its quarterly earnings per share to 0.74 sen compared with 0.57 sen previously, the group's stock exchange filing today showed. Revenue fell 3.5% to RM1.74 billion from RM1.8 billion. \u003Cbr>\u003Cbr>The group's board proposed a final single tier dividend of 4.5 sen per ordinary share in respect of FY19, to be approved by shareholders. If approved, its cumulative dividend payout for FY19 would be 8 sen compared with 20.5 sen in FY18. \u003Cbr>\u003Cbr>According to IOI Corp, excluding the total net foreign currency translation loss of RM75.4 million — versus RM108.3 million a year ago — on its foreign currency denominated borrowings and deposits, its underlying profit before tax for the quarter would be 15% lower y-o-y due to lower contribution from its plantation segment. Revenue fell 3.5% to RM1.74 billion from RM1.8 billion. \u003Cbr>\u003Cbr>The group said the plantation segment saw a 33% y-o-y drop in profit due to lower crude palm oil (CPO) and palm kernel (PK) prices realised. “Average CPO and PK prices realised for Q4 FY2019 were RM1,988/MT (Q4 FY2018 — RM2,409/MT) and RM1,127/MT (Q4 FY2018 — RM1,803/MT) respectively,” it said. \u003Cbr>\u003Cbr>However, the group's full-year net profit fell 79% to RM631.7 million against RM3.06 billion in the previous year due to lower operating profit and net foreign currency translation losses, while revenue dropped marginally to RM7.39 billion from RM7.42 billion. \u003Cbr>\u003Cbr>\"Excluding the total net foreign currency translation loss of RM102.1 million (FY18 — gain of RM318.3 million) on foreign currency denominated borrowings and deposits as well as fair value gain on derivative financial instruments from the resource-based manufacturing segment of RM28.9 million (FY18 — RM0.3 million), the underlying PBT of RM945.8 million for FY19 is 24% lower than the underlying PBT of RM1.25 billion for FY18, due mainly to lower contribution from the plantation segment, mitigated by higher contribution from the resource-based manufacturing segment,\" it said. \u003Cbr>\u003Cbr>In the new financial year, the group expects its operating performance to be satisfactory as it anticipates palm oil price to recover gradually as palm oil stocks decline from record high levels in December 2018. \u003Cbr>\u003Cbr>“We expect our total Fresh Fruit Bunch production during FY2020 to improve slightly with the higher production from the young Indonesian plantings offsetting the temporary loss from the higher replanting rate in our Sabah plantations. \u003Cbr>\u003Cbr>“Coupled with the anticipated improvement in crude palm oil price, we expect the plantation segment’s performance to improve in the coming financial year,” it said. \u003Cbr>\u003Cbr>IOI shares closed three sen or 0.71% higher at RM4.23 today, with 2.65 million shares done. It has a market capitalisation of RM26.58 billion.\u003C/p>",{"id":1273,"name":1274},[2110],{"id":14,"name":15},{"name":2112,"file_name":2112,"url":2113},"ioi_group5.jpg","https://www.ioigroup.com/storage/630/ioi_group5.jpg","2025-05-04T08:03:11.000000Z",[],{"meta_title":2105,"meta_description":2117,"meta_keywords":28},"KUALA LUMPUR (Aug 15): IOI Corp Bhd’s net profit for the fourth quarter ended June 30, 2019 (4QFY19) rose by 30% year-on-year to RM46.6 million from R...",{"id":2119,"title":2120,"date":2121,"body":2122,"source":2123,"type":2124,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2126,"created_at":2126,"content_type":24,"related_news":2127,"metatag":2128},797,"SOUTH KETAPANG LANDSCAPE INITIATIVE: A Multi-stakeholder Workshop aims at Building Collaborative Management of Rural and Conservation Areas in South Ketapang Landscape","2019-07-15T00:00:00.000000Z","\u003Cdiv>Ketapang, West Kalimantan – Today, the 15th July 2019, nearly 100 representatives from government, industry, community and civil society met in Kota Ketapang to discuss opportunities to collaborate for sustainable development in South Ketapang landscape. The multi-stakeholder workshop was initiated by the Ketapang Regency government with support from Aidenvironment, Global Environment Center (GEC) and IOI Group.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>The South Ketapang Landscape covers 750,000 ha of forests, peatlands, plantations, grasslands and 53 villages in the south of Ketapang district. The area is within the administrative boundaries of four subdistricts namely: Kendawangan, Manis Mata, Air Upas and Singkup. The landscape includes the Muara Kendawangan Nature Reserve of approximately 150,000 ha, one of the largest conservation areas in West Kalimantan Province, several forest protection areas and two lakes. Three-quarters of the villages are classified as underdeveloped (according to “Status Index Desa Membangun 2018” (Village Development Index Status 2018)) and communities’ agricultural productivity is very low. Development is currently driven by seven large oil palm plantation company groups and four Industrial Tree Plantation (HTI) companies whose concession areas comprise about 55% of the total landscape area.\u003C/div>\u003Cdiv> \u003C/div>\u003Cdiv>Against this background, the South Ketapang Landscape Initiative has been developed and conducted jointly by Aidenvironment Asia, Global Environment Center and IOI Group together with the local government and other stakeholders.  The Initiative builds on IOI’s commitment to address the common environmental and social challenges in the most effective way, on a landscape level and in collaboration with other stakeholders. IOI intends to go beyond just managing and protecting HCV, HCS and peatland areas within their four Ketapang concessions in West Kalimantan. IOI will endeavour to engage with other companies and the government to ensure optimum outcomes at a landscape level.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Bupati (district head) of Ketapang, Martin Rantan, S.H., M.Sos., in his speech presented by Regional Secretary said that “The program aligns with the Ketapang district government’s “Advancing Ketapang towards a prosperous society” vision and supports missions no. 3. Improving the Economy of the Community; no. 5. Community Empowerment and Village Government; and no. 6. Improving Management and Use of Natural Resources in Ketapang district”.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Eric Wakker, co-founder of Aidenvironment Asia, highlighted the importance of this multistakeholder workshop to promote collaboration between various parties in the landscape. “As the land use in the area begins to consolidate, it is crucial for stakeholders to collaborate to ensure there remains diversity in the landscape, be it biological, social or economic”, he said.  \u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Faizal Parish, Director of the Global Environment Center, highlighted that there is a very high risk of drought and fires in South West Kalimantan in July-November 2019 due to elevated temperatures and significantly reduced rainfall during the period. “Without proper management, the South Ketapang landscape will be even more prone to forest and land fires. Therefore, specific recommendation from this workshop are key to build an integrated action plan to prevent prolonged forest and land fire occurrences and develop a long-term vision for sustainable development”. \u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Carl Dagenhart, Head of Stakeholder Engagement at IOI Group, said that the workshop is a milestone in generating stakeholders’ commitment to collaborate on common challenges such as water management, forest fires, flooding, illegal hunting, wildlife protection and also community livelihood development. These issues can only be tackled on a landscape level and through a shared vision and shared effort. IOI Group is strongly committed to the South Ketapang Landscape Initiative. We had made that commitment publicly and we intend to deliver on it. The South Ketapang landscape is a fragile and complicated landscape and everybody understands that working in silo we can’t be effective. We have an opportunity to create a model of a successful landscape initiative in the most challenging environment, the environment that needs such initiative most. The success will depend on how well we manage to organize ourselves. Today’s workshop is an important first step as it will create an organizational framework for our joint efforts, he added.  \u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Bupati Martin Rantan, further noted on the Initiative that the delivery of sustainable development in the area is too challenging for the government alone and it will be difficult to achieve optimal conditions. He encouraged all stakeholders in the area to collaborate and synergize their efforts with the Green Growth Development Plan and support the sustainable development of Ketapang Regency.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>",{"id":1821,"name":1822},[2125],{"id":922,"name":1822},"2025-05-02T09:53:10.000000Z",[],{"meta_title":2120,"meta_description":2129,"meta_keywords":28},"Ketapang, West Kalimantan – Today, the 15th July 2019, nearly 100 representatives from government, industry, community and civil society met in Kota K...",{"id":2131,"title":2132,"date":2121,"body":2133,"source":2134,"type":2135,"image":2137,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2126,"created_at":2126,"content_type":24,"related_news":2140,"metatag":2141},798,"IOI PELITA LAND DISPUTE RESOLUTION PROCESS: Community Capacity Building Programme","\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/IOI-Pelita-Community-leaders-attending-CICOM.png\" width=\"519\" height=\"389\" alt=\"\" />\u003C/div>\r\n\u003Cp style=\"text-align: center;\">\u003Cem>Community leaders attending CICOM's Capacity Building Workshop \u003C/em>\u003C/p>\r\n\u003Cp style=\"text-align: justify; text-justify: inter-ideograph;\">As an integral part of the land dispute resolution process, IOI Group (IOI) has recently completed its Community Capacity Building Programme with all nine longhouses neighbouring the IOI Pelita estates located in the Tinjar area of Sarawak. The programme was designed by IOI but it was conducted by the Community’s Information & Communication Centre (CICOM), a local non-governmental organisation (NGO), in collaboration with Grassroots, who is IOI’s lead advisor in the resolution process.\u003C/p>\r\n\u003Cp style=\"text-align: justify; text-justify: inter-ideograph;\">The programme was launched on 19 February 2019 and it involved an introductory workshop, field visits to the longhouses, and meetings with community leaders. The programme culminated on 27 and 28 May 2019 when all community leaders or \u003Cem>Ketua Kaum\u003C/em> (Village Heads) attended a two-day workshop held in Grand Palace Hotel, Miri.\u003C/p>\r\n\u003Cp style=\"text-align: justify; text-justify: inter-ideograph;\">The main purpose of the workshop was to enhance the communities’ understanding of the resolution process and the Roundtable on Sustainable Palm Oil (RSPO) standards which are guiding this process. Any gaps in knowledge or understanding, which had been identified in the course of the previous activities, were addressed by the CICOM’s experts during the workshop.\u003C/p>\r\n\u003Cp style=\"text-align: justify; text-justify: inter-ideograph;\">The completion of the Community Capacity Building Programme is an important milestone for IOI and all stakeholders. It will allow IOI to move on to the next stage of the conflict resolution process, which is Community Participatory Mapping.\u003C/p>\r\n\u003Cp style=\"text-align: justify; text-justify: inter-ideograph;\">IOI remains determined to bring the dispute to a closure that would be long-lasting and fair to all parties involved.\u003C/p>",{"id":1821,"name":1822},[2136],{"id":922,"name":1822},{"name":2138,"file_name":2138,"url":2139},"ioi_pelita_community_leaders_attending_cicom.png","https://www.ioigroup.com/storage/629/ioi_pelita_community_leaders_attending_cicom.png",[],{"meta_title":2132,"meta_description":2142,"meta_keywords":28},"Community leaders attending CICOM's Capacity Building Workshop  As an integral part of the land dispute resolution process, IOI Group (IOI) has recent...",{"id":2144,"title":2145,"date":2146,"body":2147,"source":2148,"type":2149,"image":2151,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2154,"created_at":2155,"content_type":24,"related_news":2156,"metatag":2157},796,"Moody’s Affirms IOI Corp’s Ratings, Maintains Stable Outlook","2019-07-03T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/Resized01.jpg\" alt=\"\">\u003C/p>\u003Cp>\u003Ci>Moody's Investors Service has affirmed the ratings of cash-rich IOI Corporation Bhd and maintained the stable outlook \u003C/i>\u003Cbr>\u003Ci>due to its strong liquidity profile with a large cash balance of RM2.3bil as of March 31, 2019.\u003C/i>\u003C/p>\u003Cp>KUALA LUMPUR: Moody's Investors Service has affirmed the ratings of cash-rich IOI Corporation Bhd and maintained the stable outlook due to its strong liquidity profile with a large cash balance of RM2.3bil as of March 31, 2019. \u003Cbr>\u003Cbr>“Together with projected cash flow from operations, these sources will be sufficient to cover projected capital spending, dividends and scheduled debt maturities over the next 12 months,” the ratings agency said on Wednesday. \u003Cbr>\u003Cbr>Moody’s has affirmed the plantation giant’s Baa2 issuer rating, the Baa2 senior unsecured bond ratings of IOI Investment (L) Berhad, and the Baa2 senior unsecured bank credit facility rating of IOI Ventures (L) Bhd. \u003Cbr>\u003Cbr>Moody's also affirmed the provisional (P)Baa2 backed senior unsecured rating on the medium-term note (MTN) program of IOI Investment (L) Bhd. \u003Cbr>\u003Cbr>At the same time, Moody's has maintained the stable outlook of IOI Corp, which is one of the largest global palm-oil producers with a total oil-palm planted area of around 175,879 hectares, of which 90% was located in Malaysia as of March 31, 2019. \u003Cbr>\u003Cbr>\"The rating affirmation reflects our expectation that IOI will keep its credit metrics commensurate with its current rating level, while maintaining strong liquidity and pursuing prudent financial policies,\" says Maisam Hasnain, a Moody's Analyst. \u003Cbr>\u003Cbr>Despite weak crude palm oil prices (CPO) over the last 18 months, IOI has maintained its credit profile primarily through debt reduction and also improved earnings at its downstream businesses, which in turn were supported by lower feedstock costs. \u003Cbr>\u003Cbr>Based on Moody's medium term price assumptions for CPO of RM2,100 per tonne, Moody's expects IOI's adjusted leverage -- as measured by adjusted debt/EBITDA -- to decline slightly to around three times over the next 12-18 months from 3.2 times for the 12 months ended March 2018. \u003Cbr>\u003Cbr>This improvement will be driven by modest earnings growth and debt reduction via scheduled amortisation payments. \u003Cbr>\u003Cbr>Hasnain, also Moody's lead analyst for IOI said “IOI's Baa2 rating incorporates our expectations that IOI will take a prudent approach to any investment and shareholder returns, such that it does not materially weaken its credit profile, with adjusted leverage -- as measured by adjusted debt/EBITDA -- remaining below the 3.5 times downgrade trigger on a sustained basis.\" \u003Cbr>\u003Cbr>IOI has thus far not spent any of the RM960mil earmarked for future investments, from the RM3.8bil it received from asset sales in 2018. IOI also reduced its first interim dividend for the fiscal year \u003Cbr>ended June 2019 (fiscal 2019) to RM220mil from RM283mil in fiscal 2018 in light of weak palm oil prices. \u003Cbr>\u003Cbr>“The rating also considers IOI's moderate exposure to environmental, social and governance (ESG) risks as follows,” the rating agency said. \u003Cbr>\u003Cbr>Firstly, the increasing stakeholder scrutiny around environmental and social risks associated with the palm oil sector. To help mitigate against these risks, IOI has strengthened its sustainability policies in recent years, including committing to a policy of no deforestation, no development on peat, and no exploitation of workers. \u003Cbr>\u003Cbr>IOI has also adopted a policy whereby it will only conduct new planting in areas which have been verified by a certification body accredited by the Roundtable for Sustainable Palm Oil (RSPO) that social and environmental requirements have been met. The RSPO is an association of industry stakeholders that promotes the growth and use of sustainable palm oil products. \u003Cbr>\u003Cbr>Secondly, Moody's has taken into account IOI's concentrated ownership with the founding Lee family owning a 49% stake in the company. This risk is somewhat mitigated by oversight exercised through the presence of majority independent directors on its board, and minority shareholders including Malaysia's Employees Provident Fund Trust, which owns a 13% stake in IOI. \u003Cbr>\u003Cbr>The rating outlook is stable, reflecting Moody's expectation that IOI will (1) maintain its credit profile and prudent and conservative approach to investments and shareholder returns; and (2) remain committed to its sustainable palm oil policy. \u003Cbr>\u003Cbr>Upward rating momentum could develop if IOI grows in scale while demonstrating a sustained improvement in its financial profile and maintaining strong liquidity in the form of cash balances, short-term liquid assets and committed facilities. \u003Cbr>\u003Cbr>Credit metrics indicative of a rating upgrade include adjusted debt/EBITDA below two times and EBITA/interest expense above eight times. \u003Cbr>\u003Cbr>The rating could be downgraded if IOI's credit quality weakens as a result of challenging industry fundamentals or a deviation from its stated prudent financial policies around acquisitions and shareholder returns. \u003Cbr>Any public concerns around the sustainability of its products or operations, thus raising reputational risk, could also lead to negative rating pressure. \u003Cbr>\u003Cbr>Credit metrics indicative of a rating downgrade include adjusted debt/EBITDA above 3.5 times or adjusted EBITA/interest expense below six times.\u003C/p>",{"id":10,"name":11},[2150],{"id":14,"name":15},{"name":2152,"file_name":2152,"url":2153},"resized01.jpg","https://www.ioigroup.com/storage/628/resized01.jpg","2025-05-04T08:03:36.000000Z","2025-05-02T09:53:09.000000Z",[],{"meta_title":2145,"meta_description":2158,"meta_keywords":28},"Moody's Investors Service has affirmed the ratings of cash-rich IOI Corporation Bhd and maintained the stable outlook due to its strong liquidity prof...",{"id":2160,"title":2161,"date":2162,"body":2163,"source":2164,"type":2165,"image":2167,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2170,"created_at":2155,"content_type":24,"related_news":2171,"metatag":2172},795,"IOI Corp Appoints Former Plantations Minister Peter Chin as Chairman","2019-06-18T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/IOI%20Group(4).jpg\" alt=\"\">\u003C/p>\u003Cp>KUALA LUMPUR (Jun 18): IOI Corp Bhd has redesignated its non-executive director Tan Sri Peter Chin Fah Kui, who was formerly Sarawak United Peoples’ Party (SUPP) president, as the plantation group's independent non-executive chairman, effective today. \u003C/p>\u003Cp>\u003Cbr>In its filings with Bursa Malaysia, IOI Corp also announced today that chief executive officer (CEO) Datuk Lee Yeow Chor will be redesignated as the group’s managing director. \u003Cbr>\u003Cbr>These changes came after the demise of the group’s former executive chairman Tan Sri Lee Shin Cheng earlier this month. \u003Cbr>\u003Cbr>Chin, 74, had held various senior appointments in the government from 1968 until his retirement in May 2013, including the positions of federal minister, deputy minister and parliamentary secretary for the Ministry of Energy, Green Technology and Water, Ministry of Plantation Industries and Commodities, Ministry of Housing and Local Government, Ministry of Science, Technology and the Environment and Ministry of Welfare Services. \u003Cbr>\u003Cbr>Yeow Chor, 53, was first appointed to the board on April 25, 1996 and was subsequently appointed as CEO on Jan 8, 2014. \u003Cbr>\u003Cbr>IOI Corp’s share price gained five sen or 1.2% to RM4.23 today, giving it a market capitalisation of RM25.83 billion.\u003C/p>",{"id":1273,"name":1274},[2166],{"id":14,"name":15},{"name":2168,"file_name":2168,"url":2169},"ioi_group4.jpg","https://www.ioigroup.com/storage/627/ioi_group4.jpg","2025-05-04T08:03:50.000000Z",[],{"meta_title":2161,"meta_description":2173,"meta_keywords":28},"KUALA LUMPUR (Jun 18): IOI Corp Bhd has redesignated its non-executive director Tan Sri Peter Chin Fah Kui, who was formerly Sarawak United Peoples’ P...",{"id":2175,"title":2176,"date":2177,"body":2178,"source":2179,"type":2180,"image":2182,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2185,"created_at":2186,"content_type":24,"related_news":2187,"metatag":2188},794,"IOI Q3 Earnings Lower on Absence of Disposal Gains","2019-05-22T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/IOI%20Group(2).jpg\">\u003C/p>\u003Cp> \u003C/p>\u003Cp>PETALING JAYA: Plantation group IOI Corp Bhd’s third-quarter net profit to end-March plunged 88.1% to RM245.8mil from RM2.1bil a year ago, on the absence of disposal gains during the period. \u003Cbr>\u003Cbr>During the corresponding quarter a year ago, the group had recognised a disposal gain of RM1.6bil from the divestment of a 70% equity interest in resource-based manufacturing business Loders Croklaan Group B.V. \u003Cbr>\u003Cbr>The group said the reduced net profit was also due to lower net foreign currency translation gains on its foreign currency-denominated borrowings and deposits, and as a result of the revision in real property gains tax. \u003Cbr>\u003Cbr>Revenue for the period, however, increased 8.6% to RM1.9bil. \u003Cbr>\u003Cbr>In a filing with Bursa Malaysia, the group said profit from the plantation segment of RM132.6mil was 44% lower, mainly due to lower crude palm oil (CPO) and palm kernel prices realised. \u003Cbr>\u003Cbr>Underlying profit from its resource-based manufacturing segment, meanwhile, was 144% higher year-on-year, excluding the fair value gain/loss on derivative financial instruments. \u003Cbr>\u003Cbr>The higher profit, the group said, was due mainly to improved sales volume and margins from the refining sub-segment, as well as a share of associate results from Loders. \u003Cbr>\u003Cbr>For the nine-month period, net profit fell 80.7% to RM585.1mil from RM3bil previously. \u003Cbr>\u003Cbr>Moving forward, the group said CPO price is expected to remain weak due to ample supply of soy bean and high palm oil stocks. \u003Cbr>\u003Cbr>“The higher biodiesel mandates in Malaysia and Indonesia would help to ease the palm oil stockpile, albeit at a gradual pace,” it said. \u003Cbr>\u003Cbr>For its plantation segment, the group said fresh fruit bunch production is expected to be slightly lower in the fourth quarter compared to the third quarter due to the change in the seasonality of Malaysian production pattern, and lower harvesting productivity during Ramadan. \u003Cbr>\u003Cbr>“Coupled with the weak palm oil price, the plantation segment is expected to perform below average in the fourth quarter of financial year 2019,” it said. \u003Cbr>\u003Cbr>In the resource-based manufacturing segment, it expects the oleochemical sub-segment to continue to perform well in the fourth quarter on the back of good demand for its products and lower raw material prices. \u003Cbr>\u003Cbr>The group added that its 30%-owned specialty fats associate company, Bunge Loders Croklaan, is anticipated to continue to perform well during the final quarter. \u003C/p>",{"id":10,"name":11},[2181],{"id":14,"name":15},{"name":2183,"file_name":2183,"url":2184},"ioi_group2.jpg","https://www.ioigroup.com/storage/626/ioi_group2.jpg","2025-05-04T08:04:06.000000Z","2025-05-02T09:53:08.000000Z",[],{"meta_title":2176,"meta_description":2189,"meta_keywords":28}," PETALING JAYA: Plantation group IOI Corp Bhd’s third-quarter net profit to end-March plunged 88.1% to RM245.8mil from RM2.1bil a year ago, on the abs...",{"id":2191,"title":2192,"date":2193,"body":2194,"source":2195,"type":2196,"image":2198,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2186,"created_at":2186,"content_type":24,"related_news":2201,"metatag":2202},792,"IOI PELITA LAND DISPUTE RESOLUTION PROCESS: Launch of Community Capacity Building Stage of IOI-Pelita Land Dispute Resolution Plan","2019-03-04T00:00:00.000000Z","\u003Cp>IOI is continuing its efforts to resolve the long-standing land dispute between IOI Pelita and 9 local communities in the Tinjar area of Sarawak. RSPO’s Complaints Panel and Grassroots (NGO) support IOI in this process by providing guidance and advice. The resolution process has been agreed upon and outlined in the IOI Pelita Land Dispute Resolution Plan, and IOI is responsible for its implementation. \u003Cbr />\u003Cbr />On 19 February 2019 in Miri, Sarawak, IOI launched the community capacity building stage of the IOI Pelita Land Dispute Resolution Plan. It will be conducted independently by two Sarawakian NGOs, JOAS and SADIA who formed a special entity called CICOM (Community’s Information and Communication Centre) to manage this effort. \u003Cbr />\u003Cbr />The first objective of the capacity building program is to ensure that the affected communities understand well the dispute resolution process outlined in the IOI’s Resolution Plan.  In June to October 2018, IOI conducted several sessions of the Resolution Plan socialization among all nine participating communities. This time, CICOM’s task is to assess communities’ current level of understanding and address any gaps, if such are identified. Furthermore, CICOM will provide, directly or through specialized consultants, any additional advice and training that the communities might need to be fully aware of the complexity of the dispute, its legal ramifications, risks and opportunities involved.  As a result, the communities will be well-equipped to participate in next stages of the resolution process, which are: participatory mapping (Stage II) and negotiations for the final dispute settlement (Stage III).   \u003Cbr />\u003Cbr />In the course of the community capacity building process, CICOM will also identify and discuss communities’ grievances against IOI Pelita as well as the intra-community disputes related to the overlapping land claims. These claims will be subsequently validated and mapped out through the community participatory mapping (Stage II).  \u003Cbr />\u003Cbr />To launch the community capacity building program, CICOM invited all Ketua Kaum (village heads) to a workshop to explain the program, get their feedback and agree on the timing of CICOM’s visits to the individual longhouses. The workshop took place in Miri on February 19th. IOI representatives were not present in order to ensure a frank and open discussion between CICOM and the affected communities. That independence will be provided to CICOM throughout their involvement in the IOI Pelita dispute resolution process. IOI believes that the active participation of the Sarawakian civil society in the resolution process will make a difference and increase the chances for success in resolving this long-standing conflict.\u003C/p>\r\n\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/IOI-Pelita-Land-Dispute-Resolution-Plan.png\" width=\"441\" height=\"332\" alt=\"\" />\u003C/div>\r\n\u003Cp style=\"text-align: center;\">\u003Cem>CICOM and Grassroots in discussion with the Village Heads (Ketua Kaum) during the workshop.  \u003C/em>\u003C/p>\r\n\u003Cp>\u003C/p>",{"id":1821,"name":1822},[2197],{"id":922,"name":1822},{"name":2199,"file_name":2199,"url":2200},"ioi_pelita_land_dispute_resolution_plan.png","https://www.ioigroup.com/storage/625/ioi_pelita_land_dispute_resolution_plan.png",[],{"meta_title":2192,"meta_description":2203,"meta_keywords":28},"IOI is continuing its efforts to resolve the long-standing land dispute between IOI Pelita and 9 local communities in the Tinjar area of Sarawak. RSPO...",{"id":2205,"title":2206,"date":2207,"body":2208,"source":2209,"type":2210,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2186,"created_at":2186,"content_type":24,"related_news":2212,"metatag":2213},793,"IOI PELITA LAND DISPUTE RESOLUTION PROCESS: Second Joint Statement by IOI & Grassroots","2019-03-01T00:00:00.000000Z","\u003Cp>This is the second quarterly joint statement issued by IOI and Grassroots on the status of the IOI Pelita land dispute resolution process, namely on progress and challenges in the period from November 2018 to January 2019.\r\n\u003C/p>\u003Cp>The IOI Pelita land dispute is managed by IOI and guided by the Complaints Panel (CP) of the RSPO, while Grassroots plays the role of lead advisor and Dr Ramy Bulan is the lead facilitator. These are the key actors responsible for ensuring RSPO’s Principles & Criteria on conflict resolution, including strict adherence to the Free, Prior and Informed Consent (FPIC) approach, are followed throughout the process.\r\n\u003C/p>\u003Cp>The FPIC principle, as the main way of safeguarding local communities’ rights to their land, is embedded in the Resolution Plan developed by IOI and Grassroots, with the CP’s guidance as well as input from other stakeholders. Inputs from local, State and international stakeholders have been sought in the period, including local NGOs, the Sarawak government, Pelita and the customary leadership in Tinjar.\r\n\u003C/p>\u003Cp>IOI is committed to ensuring that the FPIC principle is incorporated at each step throughout the entire resolution process. Grassroots and  other advisors to the process have been providing continuous inputs, support and ideas for implementation that is faithful to the FPIC principle. These advisors partner IOI in identifying challenges and solutions throughout the process.\r\n\u003C/p>\u003Cp>All nine (9) affected communities have been engaged by IOI and invited to participate in the resolution process. As of December 2018, eight (8) gave consent to proceed with the Resolution Plan and only one (1) remains undecided. IOI made significant effort providing all necessary support to that particular community for them to be fully informed and effective in their decision-making. IOI will continue to engage with and assist this community to ensure they are kept abreast of overall progress. This continued engagement will allow them to participate in the resolution process whenever they are ready. \u003C/p>\u003Cp>In response to the 8 communities’ consent to the resolution process, IOI and Grassroots identified local NGOs, namely – Jaringan Orang Asal Se-Malaysia or Indigenous Peoples’ Network of Malaysia (JOAS) and Sarawak Dayak Iban Association (SADIA) – who formed a Sarawak-based, special entity called Community's Information and Communication Centre (CICOM) and are ready to conduct a community capacity building program and assist with a community participatory mapping exercise. These two activities are the essential building blocks of both the Resolution Plan and the FPIC process. \u003C/p>\u003Cp>IOI and Grassroots believe that active participation of the local NGOs in the resolution process will significantly increase the likelihood of positive, lasting and fair outcomes for the affected communities and IOI. Besides having direct, relevant experience, intimate understanding of the core issues and being well-known  to the communities, these groups add an independent component to capacity building to ensure unbiased information is provided to communities to help them in making informed decisions. Other stakeholders, including the Legal Advisor to the State of Sarawak Government, Regent of Miri and District Officer, have been regularly kept informed to ensure their engagement and continued support for the resolution process.\r\n\u003C/p>\u003Cp>Finally, in IOI’s and Grassroots’ view it is not possible to foresee all adverse developments and avoid all risks. As long as the process and its implementation follow the road map outlined in the Resolution Plan, including the principles of FPIC, transparency, fairness and inclusion, the implementing parties should be moving steadily ahead and dealing with both expected and unforeseen challenges as they arise.\r\n\u003C/p>\u003Cp>For more information about the IOI Pelita case, please refer to IOI’s website: https://www.ioigroup.com/Content/S/S_Progress  \u003Cbr />\u003C/p>",{"id":1821,"name":1822},[2211],{"id":922,"name":1822},[],{"meta_title":2206,"meta_description":2214,"meta_keywords":28},"This is the second quarterly joint statement issued by IOI and Grassroots on the status of the IOI Pelita land dispute resolution process, namely on p...",{"id":2216,"title":2217,"date":2218,"body":2219,"source":2220,"type":2221,"image":2223,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2225,"created_at":2226,"content_type":24,"related_news":2227,"metatag":2228},791,"IOI Corp Falls After Announcing 2Q Profit Drop","2019-02-21T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/IOI%20Group(2).jpg\" alt=\"\">\u003C/p>\u003Cp>KUALA LUMPUR: IOI Corporation Bhd's net profit fell 68% in the second quarter ended Dec 31, 2018 due to lower operating profit and net foreign currency translation loss on foreign currency denominated borrowings and deposits . \u003Cbr>\u003Cbr>The plantation company said on Wednesday its net profit fell from RM595.90mil a year ago to RM195.50mil. \u003Cbr>\u003Cbr>“The underlying profit before tax (PBT) of RM244mil for Q2 FY2019 is 34% lower than the underlying PBT of RM368.7mil for Q2 FY2018, due mainly to lower contribution from plantation segment, mitigated by higher contribution from the resource-based manufacturing,” it said. \u003Cbr>\u003Cbr>This was after excluding the total net foreign currency translation loss of RM22.8mil (compared with a gain of RM188.1mil a year ago) on foreign currency denominated borrowings and deposits as well as lower fair value gain on derivative financial instruments from the resource-based manufacturing segment of RM17.8mil (Q2 FY2018 – RM66.1 mil). \u003Cbr>\u003Cbr>Its revenue for Q2 FY19 fell 6.4% to RM1.88bil from RM2.01bil a year ago. Earnings per share were 3.11 sen compared with 9.48 sen. It declared an interim dividend of 3.50 sen compared with 4.50 sen a year ago. \u003Cbr>\u003Cbr>IOI Corp said the plantation segment profit for Q2 FY2019 fell 66% to RM117.3mil from RM340.9mil a year ago. \u003Cbr>\u003Cbr>The lower profit reported is due mainly to lower crude palm oil (CPO) and palm kernel (PK) prices realised. Average CPO price realised for Q2 FY2019 was RM1,932 a tonne compared with RM2,644 a year ago while and average PK price realised for Q2 FY2019 was RM1,444 compared with RM2,621. \u003Cbr>\u003Cbr>IOI Corp's resource-based manufacturing segment profit rose 8.5% to RM139.3mil for Q2 FY2019 from RM128.3mil a year ago. \u003Cbr>\u003Cbr>Excluding the fair value gain on derivative financial instruments, the underlying profit for resource-based manufacturing segment was 95% higher at RM121.5mil compared with RM62.2mil a year ago. \u003Cbr>\u003Cbr>“The higher profit is mainly due to higher sales volume and margins from oleochemical and refining sub-segments as well as share of associate result from Bunge Loders Croklaan Group B.V. (Loders) (taken up as discontinued operations in Q2 FY2018 prior to the completion of divestment of Loders),” it said. \u003Cbr>\u003Cbr>For the first half, its net profit fell 64.5% to RM339.30mil from RM955.90mil while its revenue was down by 3.1% to RM3.75bil from RM3.87bil. \u003Cbr>\u003Cbr>\u003Cbr> \u003C/p>",{"id":1273,"name":1274},[2222],{"id":14,"name":15},{"name":2183,"file_name":2183,"url":2224},"https://www.ioigroup.com/storage/624/ioi_group2.jpg","2025-05-04T08:04:23.000000Z","2025-05-02T09:53:07.000000Z",[],{"meta_title":2217,"meta_description":2229,"meta_keywords":28},"KUALA LUMPUR: IOI Corporation Bhd's net profit fell 68% in the second quarter ended Dec 31, 2018 due to lower operating profit and net foreign currenc...",{"id":2231,"title":2232,"date":2233,"body":2234,"source":2235,"type":2236,"image":2238,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2241,"created_at":2242,"content_type":24,"related_news":2243,"metatag":2244},786,"Palm Voices: Putting On The Brakes","2019-01-07T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/DLYC.jpg\" alt=\"\">\u003C/p>\u003Cp>Today, the world population stands at 7.6 billion and is expected to reach nine billion by 2050. \u003Cbr>\u003Cbr>While the world’s population is increasing at a fast rate, the availability of arable land remains roughly the same. \u003Cbr>\u003Cbr>In fact, arable land is becoming more scarce relative to the number of people who have to be fed. \u003Cbr>\u003Cbr>According to figures from the United Nations, an additional 2.7 million to 4.9 million hectares of cropland will be required every year to feed the growing world’s population. \u003Cbr>\u003Cbr>Climate change, urban development and rural population migration affect agriculture directly. \u003Cbr>\u003Cbr>Every year, between one million and two million hectares of land become unsuitable for cultivation due to land degradation. \u003Cbr>\u003Cbr>Efforts to rehabilitate these de­­graded lands are extremely expensive. \u003Cbr>\u003Cbr>Therefore, more innovative and efficient agricultural land use policies are needed to feed the continuously growing global population. \u003Cbr>\u003Cbr>\u003Cstrong>Food security \u003C/strong>\u003Cbr>\u003Cbr>The first fact to recognise when considering global food security is that the world is not homogeneous. \u003Cbr>\u003Cbr>Global food production is not evenly distributed among all countries. Countries with a conducive climate and human capacity have surplus food production and will not encounter food security issues. \u003Cbr>\u003Cbr>On the other hand, countries which are less well-endowed will encounter food security issues. \u003Cbr>\u003Cbr>Very often, the countries facing food security issues are those with large populations. This, clearly, is a potential cause of significant economic and social instability. \u003Cbr>\u003Cbr>By 2050, when the world’s population reaches nine billion, an additional 35 million tonnes of oils and fats will be needed every year. This posts a major challenge where large areas of land will be required to meet the additional demand. \u003Cbr>\u003Cbr>For example, to produce 35 million tonnes of oils and fats, it will require 88 million hectares of land for soybean or 58 million hectares for sunflower. \u003Cbr>\u003Cbr>Alternatively, only nine million hectares of oil palm would be needed to produce the same volume of food – actual areas may be smaller due to productivity improvements over time. \u003Cbr>\u003Cbr>Realising this, the Food and Agriculture Organisation of the United Nations has recognised the importance of planting oil palm for food security, especially in developing countries. Although oil palm occupies only 0.3% of total agricultural land, the crop contributes more than 30% of the world’s supply of oils and fats. \u003Cbr>\u003Cbr>\u003Cstrong>Sustainability certification \u003C/strong>\u003Cbr>\u003Cbr>This world-leading efficiency on its own has not been sufficient to lead palm oil into the good graces of decision-makers. Consistent negative campaigns about palm oil’s environmental impact have damaged its image and forced the industry to respond to prove its sustainability credentials. \u003Cbr>\u003Cbr>The Roundtable on Sustainable Palm Oil (RSPO) is today the most widely accepted sustainability certification scheme for palm oil, particularly for use in food and chemicals. Indeed, RSPO has made significant progress and impact in promoting the production, supply and use of sustainable palm oil. \u003Cbr>\u003Cbr>However, there are signs that RSPO is increasingly alienating the oil palm growers who have become disillusioned over the continuously shifting sustainability criteria or their application during audits. \u003Cbr>\u003Cbr>Let’s look at the statistics of RSPO membership. In 2008, four years after RSPO’s formation, grower members made up 19.1% of total membership while 10 years later in 2018, only a mere 4.4% of the total membership comprised the grower members. These statistics showing a gross under-representation of growers should be a wake-up call for RSPO and the advocates for sustainable palm oil. \u003Cbr>\u003Cbr>The oil palm growers are the ones who bear the brunt of the hard work, undergoing regular audits involving almost 100 criteria. They form the source of the palm oil supply chain on which the very existence of RSPO depends. If the golden goose which lays the golden eggs disappears or shrinks substantially, it would be meaningless for the rest of the members who are food companies, retailers, NGOs and other stakeholders to talk about promoting the use of sustainable palm oil. \u003Cbr>\u003Cbr>RSPO’s core objective is to “promote” the production, supply and use of sustainable palm oil. \u003Cbr>\u003Cbr>Promote means encourage and has an underlying tone of voluntary effort and incentives. \u003Cbr>\u003Cbr>However, when membership for growers turn into an avalanche of complaints against their production practices in the Complaints List and hardly any complaint against other member groups, coupled with the less than 50% uptake of their certified production volume and the fast-declining RSPO premium, it may not be surprising that the growth in the growers membership is so slow and the under-representation of the grower members becomes so stark. \u003Cbr>\u003Cbr>Due to the stringent RSPO criteria and the significant certification costs, there is a real need for other certification schemes that are cheaper, less complex and more broad-based. \u003Cbr>\u003Cbr>The Malaysian Sustain­able Palm Oil scheme, for example, is a much-­welcomed certification scheme which is backed by the Malaysian government and can be adopted by a much wider spectrum of the oil palm growers, including the smallholders. \u003Cbr>\u003Cbr>\u003Cstrong>Western NGOs activism \u003C/strong>\u003Cbr>\u003Cbr>The era of Internet and social media has been a boon to NGOs. \u003Cbr>\u003Cbr>Very often, environmental NGOs from the Western countries are able to reach out to netizens around the world and garner strong followings to promote their cause. Palm oil is not spared and has been a favourite target for these NGOs. \u003Cbr>\u003Cbr>Armed with mostly academic knowledge gained from Western institutions and information extract­­ed from studies based on dubious science, activists from these NGOs who are mostly in their 20s and 30s have a tendency to exert their opinion on oil palm growers who are less educated but nevertheless have spent many years practising their trade. \u003Cbr>\u003Cbr>Even though these NGOs are relatively small in size, with manpower as low as five for the smallest to perhaps a few hundred for the bigger ones, due to the clever use of social media and shrewd propaganda tactics, they are able to sway consumer perception and dictate to the oil palm grower communities which total several million people how environmental conservation should be carried out in less developed countries. \u003Cbr>\u003Cbr>It is acknowledged that NGOs and other activist groups play an important role in providing alternative views and acting as check and balance on matters of interest. \u003Cbr>\u003Cbr>However, in many instances, their approach to resolving issues could be changed to be less confrontational, more sympathetic and more collaborative. \u003Cbr>\u003Cbr>The fact is that the oil palm growers on the ground are the ones who have to do the tough job of ensuring that oil palm is grown in an economically, socially and environmentally sustainable manner. \u003Cbr>\u003Cbr>The campaign by NGOs and other activist groups in restricting oil palm planting has been effective as can be seen from the much slower planting area expansion over the last few years. \u003Cbr>\u003Cbr>The Indonesian government has extended a moratorium on approving new land for oil palm planting and recently, the Malaysian government has also announced a restriction on oil palm expansion in Malaysia. \u003Cbr>\u003Cbr>These are good short-term measures that allow proper environmental protection measures to be implemented effectively on the ground and to moderate the growth in the supply of palm oil in the global vegetable oil market. \u003Cbr>\u003Cbr>However, a proper balance should be struck to avoid other social-economic problems such as food security, food price inflation and an imbalance in rural development from surfacing in the longer term.\u003C/p>\u003Cp> \u003C/p>",{"id":10,"name":11},[2237],{"id":14,"name":15},{"name":2239,"file_name":2239,"url":2240},"dlyc.jpg","https://www.ioigroup.com/storage/620/dlyc.jpg","2025-05-04T08:04:57.000000Z","2025-05-02T09:53:05.000000Z",[],{"meta_title":2232,"meta_description":2245,"meta_keywords":28},"Today, the world population stands at 7.6 billion and is expected to reach nine billion by 2050. While the world’s population is increasing at a fast...",{"id":2247,"title":2248,"date":2233,"body":2249,"source":2250,"type":2251,"image":2253,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2256,"created_at":2226,"content_type":24,"related_news":2257,"metatag":2258},790,"Best Mergers & Acquisitions: IOI Corp’s Loders Sale — Sweet on Both Sides","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/IOI%20Group(1).jpg\" alt=\"\">\u003C/p>\u003Cp>Amid numerous mergers and acquisitions in 2018, one that stands out is the partial sale of IOI Corp Bhd’s speciality fats business to Bunge Ltd, a submission by AmInvestment Bank and JPMorgan. \u003Cbr>\u003Cbr>This transaction is notable for numerous reasons, not least of which is that both sides of the transaction came away with a win for their respective shareholders — earning recognition as the M&A of the year. In other words, the exercise is a rare example of how M&A are not always zero-sum transactions where one party gains at the other’s expense. \u003Cbr>\u003Cbr>It was also a landmark M&A exercise for the agricultural segment, particularly for the speciality oils subsegment as it joined two major edible oils players into a market-leading behemoth. \u003Cbr>\u003Cbr>To recap, the deal, which saw New York Stock Exchange-listed Bunge buy 70% of IOI Loders Croklaan for RM3.94 billion cash — making it one of the largest M&A deals in 2017 — was announced in September 2017 and concluded in March 2018. \u003Cbr>\u003Cbr>It is the culmination of a 15-year value creation journey for IOI Corp since it acquired Loders, then a small business operation, from Unilever in 2003. \u003Cbr>\u003Cbr>Today, at the point of sale, Loders is an established leader in the speciality and semi-speciality B2B oils market worth US$33 billion a year. \u003Cbr>\u003Cbr>With over 500 products across the full range of the palm and tropical oil-derived segment, the business serves major food industry customers in more than 100 countries, raking in US$1.6 billion in revenue annually. \u003Cbr>\u003Cbr>From the seller’s perspective, the transaction marked a trade-off. Divesting 70% of Loders will mean that IOI Corp will lose a big chunk of its turnover as the former made up half of its downstream revenue. In terms of profit, the sale will take away 7% to 10.5% of IOI Corp’s group profit per annum, CEO Datuk Lee Yeow Chor conceded in an interview with The Edge last year. \u003Cbr>\u003Cbr>However, the upsides for IOI Corp are added earnings stability and strengthened financial health despite seeing a slight reduction in scale. Note that IOI Corp booked a RM2.3 billion gain from the deal. It paid a special dividend of 11.5 sen per share amounting to about RM722.7 million from the disposal proceeds. \u003Cbr>\u003Cbr>Half of the proceeds were earmarked for repaying borrowings, which was expected to roughly halve its gearing from 0.76 times to 0.34 times. Furthermore, the sale also means significantly reduced exposure to interest expense on foreign currency-denominated borrowings via Loders. That injected some stability to IOI Corp’s profit and loss sheet as foreign exchange fluctuations no longer affect its bottom line as much. \u003Cbr>\u003Cbr>Some analysts believe the sale may even widen IOI Corp’s profit margin as the proportion of upstream business to downstream would grow post-divestment. \u003Cbr>\u003Cbr>For perspective, prior to the sale, 85% of IOI Corp’s revenue came from the resource-based manufacturing segment, which includes the contribution from Loders. However, the segment’s contribution is smaller at the profit level, at 20.4% of the group’s operating profit. In comparison, the upstream plantation business is more lucrative, making up 79% of operating profit. \u003Cbr>\u003Cbr>As for Bunge, the deal marked its biggest acquisition to date. Its shareholders would have been happy as the transaction was expected to be accretive on a cash-basis in the first year itself. By the third year, the acquisition was projected to be 7% accretive on a cash-basis. \u003Cbr>\u003Cbr>Gaining control over Loders consolidated Bunge’s market position — coming into the deal, it was already a leading global agribusiness and food company operating in 40 countries with about 32,000 employees. \u003Cbr>\u003Cbr>For the transaction, AmInvestment Bank acted as principal adviser to IOI Corp while JPMorgan acted as the exclusive financial adviser to Bunge. \u003Cbr>\u003Cbr>Post-transaction, Loders’ board comprises three Bunge representatives and two from IOI Corp. \u003Cbr>\u003Cbr>As part of the deal, Bunge and IOI Corp agreed to a five-year call and put option over the remaining 30% held by IOI Corp. This means that either side can compel the disposal of that 30% stake to Bunge within that timeframe. \u003Cbr>\u003Cbr>And the cherry on top was a commitment by Bunge to a mandatory dividend of 25% of Loders’ earnings after taxes. \u003Cbr>\u003Cbr>That should be a sizeable sum for both sides as Bunge said it expects Loders to generate earnings before interest, taxes, depreciation and amortisation of US$105 million in 2018. \u003Cbr>\u003Cbr>IOI Corp’s continued involvement in Loders and its expected growth into a leading global agri-food company, supports the former’s focus on being a leading integrated oil palm player with a global presence, says AmInvestment Bank.\u003Cbr> \u003C/p>",{"id":109,"name":110},[2252],{"id":14,"name":15},{"name":2254,"file_name":2254,"url":2255},"ioi_group1.jpg","https://www.ioigroup.com/storage/623/ioi_group1.jpg","2025-05-04T08:04:42.000000Z",[],{"meta_title":2248,"meta_description":2259,"meta_keywords":28},"Amid numerous mergers and acquisitions in 2018, one that stands out is the partial sale of IOI Corp Bhd’s speciality fats business to Bunge Ltd, a sub...",{"id":2261,"title":2262,"date":2263,"body":2264,"source":2265,"type":2266,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2242,"created_at":2242,"content_type":24,"related_news":2268,"metatag":2269},785,"IOI PELITA LAND DISPUTE RESOLUTION PROCESS: Stakeholder Engagement Trip to Miri, Sarawak on 8 – 10 November 2018","2018-12-21T00:00:00.000000Z","The IOI Group’s Stakeholder Engagement team on their way to Kota Kinabalu for RT 16 made a stop-over in Miri to meet with local government representatives to discuss the progress of the IOI Pelita dispute resolution process. IOI team also met with the leaders of the two communities that have not decided yet whether to give their consent for IOI to go ahead with the implementation of the Resolution Plan. The other 7 communities have already agreed to it.\r\n\u003Cbr />\r\n\u003Cbr />On November 9th, at the Deputy Regent’s Office, representatives from various local government branches, including Mr. Ezra Uda, Diplomatic Administrative Officer; Mr. Mohd Rashdan, District Officer of Beluru and Mr. Jubin from Land & Survey Department, met with the IOI team to discuss the progress of the dispute resolution process and more specifically to receive an update on the Individual Land Plot Survey conducted by IOI with an aim of identifying exact location and size of the individual plots of land that local communities have not been yet compensated for. IOI representatives confirmed that the survey was nearing its completion and that the ex-gratia compensation would be paid soon after.  \r\n\u003Cbr />\r\n\u003Cbr />On the same day, IOI team met with the Village Head of Long Tabing Iban, Mr. Juben Sigai, and some members of the community. The purpose of the meeting was to see how IOI could further assist the Long Tabing Iban community in making their decision on whether to give a consent to the Resolution Plan. In the course of the open discussion, Mr. Juben explained that the community was unhappy because IOI Pelita still has not repaired their road.  Mr. Wilson Pasang, Community Liaison Officer, explained the reasons for the delay and promised a quick action. The community also asked IOI Pelita to provide a road repair schedule to them and to make sure that local community members have preference when it comes to job opportunities at IOI Pelita, to which IOI team agreed. Based on this agreement, the community of Long Tabing Iban was to consider favorably giving a consent to the Resolution Plan.\r\n\u003Cbr />\r\n\u003Cbr />The following day, IOI team was supposed to have a meeting with the leader of Long Teran Batu, Mr. Joslee. Long Teran Batu together with Long Tabing Iban are the only two remaining communities that have not yet given IOI a consent to go ahead with Resolution Plan. Unfortunately, Mr. Joslee was admitted to General Hospital in Miri due to minor heart attack the night before. Stakeholder Engagement team went to visit Mr. Joslee at the hospital to wish him a quick recovery.\r\n\u003Cbr />",{"id":1821,"name":1822},[2267],{"id":922,"name":1822},[],{"meta_title":2262,"meta_description":2270,"meta_keywords":28},"The IOI Group’s Stakeholder Engagement team on their way to Kota Kinabalu for RT 16 made a stop-over in Miri to meet with local government representat...",{"id":2272,"title":2273,"date":2274,"body":2275,"source":2276,"type":2277,"image":2279,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2242,"created_at":2242,"content_type":24,"related_news":2282,"metatag":2283},784,"SOUTH KETAPANG LANDSCAPE INITIATIVE: Official launch","2018-12-19T00:00:00.000000Z","\u003Cp>IOI Corporation Berhad (IOIC) partnered with Aidenvironment and Global Environment Centre (GEC) to officially launch the South Ketapang Landscape Initiative on 19 October 2018 at IOI headquarters. Aidenvironment, a foundation which has offices in Bogor and Ketapang, Indonesia, is well known for its expertise in sustainable landscape management while GEC is a non-profit organisation that specialises in community-based peatland management.\u003C/p>\r\n\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/IMG_9725_v2(2).jpg\" alt=\"\" style=\"width: 500px; height: 453px;\" />\u003C/div>\r\n\u003Cp style=\"text-align: center;\">\u003Cem>Representatives from IOIC, Aidenvironment \u003C/em>\u003Cem>and\u003C/em>\u003Cem> GEC at the South Ketapang Landscape Initiative launch at IOI headquarters\u003C/em>\u003C/p>\r\n\u003Cp>The initiative stems from IOIC’s commitment to develop a collaborative way to tackle the most common and critical issues such as peatland management, biodiversity and wildlife protection, flood and fire prevention and control, and community livelihood development within the ecologically diverse South Ketapang landscape.\u003C/p>\r\n\u003Cp>The South Ketapang landscape, which encompasses 500,000 hectares (ha), includes IOIC’s Indonesian subsidiary PT. SNA’s 40,000 ha (eight percent of the total landscape), 290,000 ha of other oil palm and industrial timber plantations as well as 170,000 ha of fragile and unique ecosystems such as peat forests, peat valleys, savanna-like land, lakes, and riparian forests, which are habitats to rare, threatened and endangered species including orang utan and sun bears, but are prone to frequent fires, flooding and also illegal hunting. \u003Cbr />\u003Cbr />All the stakeholders operating in the area face the same challenges such as water management, biodiversity and wildlife protection, flood and fire prevention, and community livelihood development. Therefore, the initiative seeks to bring together key stakeholders, including private companies, the Indonesian government and local communities, to tackle these interconnected challenges through a well-coordinated effort and on a landscape level. It will involve novel approaches and deliveries such as legally securing high conservation value (HCV) and high carbon stock (HCS) areas, and capitalising on opportunities presented by the Indonesian Land Reform and Social Forestry Policy. \u003Cbr />\u003Cbr />Following the official launch in Kuala Lumpur, the project team (IOIC, Aidenvironment and GEC) went to Ketapang in West Kalimantan, Indonesia, on 27 to 30 November 2018 to discuss the programme implementation with the local stakeholders. The team met with the Natural Resource Conservation Agency \u003Cem>(Balai Konservasi Sumber Daya Alam)\u003C/em> in Pontianak, the Regional Body for Planning and Development \u003Cem>(Badan Perencana Pembangunan Daerah)\u003C/em> in Ketapang City, and the district authorities in Kendawangan. This was followed by a fruitful engagement with PT. SNA managers and a stakeholder meeting with local communities and other plantation companies on 29 November 2018 at the PT. SNA Training Centre. The team also visited key conservation areas, including the largest one called \u003Cem>Cagar Alam Muara Kendawangan\u003C/em>, a 150,000 ha of land and a priority area for the first phase of the initiative.\u003C/p>\r\n\u003Cp style=\"text-align: justify; margin: 0pt; line-height: 1.15;\">\u003Ca name=\"_Hlk532553253\" style=\"background-color: #ffffff;\">\u003C/a>\u003Cspan> \u003C/span>\u003C/p>\r\n\u003Cp style=\"text-align: justify; margin: 0pt; line-height: 1.15;\"> \u003C/p>\r\n\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/IOI-stakeholder-meeting-held-at-PT-SNA-1.png\" width=\"494\" height=\"264\" alt=\"\" />\u003C/div>\r\n\u003Cp style=\"text-align: center; margin: 0pt 0pt 10pt;\">\u003Cspan style=\"font-style: italic; background-color: #ffffff;\">All the stakeholders expressed keen interest, commitment and mutual agreement at a stakeholder meeting held at PT. SNA.\u003C/span>\u003C/p>\r\n\u003Cp style=\"text-align: justify; margin: 0pt; line-height: 1.15;\">\u003Cspan style=\"background-color: #ffffff;\">The initiative will be implemented in stages over five years. It is off to a good start but the journey ahead will be a challenge yet the implementing partners have all required expertise and determination to be able to succeed in this new endeavour. \u003C/span>\u003C/p>\r\n\u003Cp style=\"text-align: justify; margin: 0pt; line-height: 1.15;\">\u003Cspan style=\"background-color: #ffffff;\"> \u003C/span>\u003C/p>\r\n\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/IOI-south-ketapang-landscape-initiative-official-launch-1.png\" width=\"410\" height=\"308\" alt=\"\" />\u003C/div>\r\n\u003Cp style=\"text-align: center; margin: 0pt 0pt 10pt;\">\u003Cspan style=\"font-style: italic; background-color: #ffffff;\">A visit to Cagar Alam Muara Kendawangan, which is a land of priority for the first phase of the initiative.\u003C/span>\u003C/p>\r\n\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/IOI-south-ketapang-landscape-initiative-official-launch.png\" width=\"410\" height=\"308\" alt=\"\" />\u003C/div>\r\n\u003Cp style=\"text-align: center; margin: 0pt 0pt 10pt;\">\u003Cspan style=\"font-style: italic; background-color: #ffffff;\">The South Ketapang Landscape Initiative stakeholders meeting at PT SKS.\u003C/span>\u003C/p>",{"id":1821,"name":1822},[2278],{"id":922,"name":1822},{"name":2280,"file_name":2280,"url":2281},"img_9725_v22.jpg","https://www.ioigroup.com/storage/619/img_9725_v22.jpg",[],{"meta_title":2273,"meta_description":2284,"meta_keywords":28},"IOI Corporation Berhad (IOIC) partnered with Aidenvironment and Global Environment Centre (GEC) to officially launch the South Ketapang Landscape Init...",{"id":2286,"title":2287,"date":2288,"body":2289,"source":2290,"type":2291,"image":2293,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2296,"created_at":2297,"content_type":24,"related_news":2298,"metatag":2299},782,"Donate Your Clutter to Charity Shop","2018-12-17T00:00:00.000000Z","\u003Cp>\u003Cimg class=\"image_resized\" style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/20181212_133606(1).jpg\" alt=\"\">\u003C/p>\u003Cp> \u003C/p>\u003Cp>\u003Ci>Bargain Basement champions and beneficiaries posing for a group photo during the cheque presentation ceremony. \u003C/i>\u003Cbr> \u003C/p>\u003Cp>The spirit of sharing is caring is well exemplified by the Bargain Basement charity shop, an initiative by IOI Group’s charity arm IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng). \u003Cbr>\u003Cbr>A total of RM200,000 of the shop’s nett proceeds were donated to various charities during a presentation ceremony in conjunction with the Christmas celebrations at IOI City Mall. \u003Cbr>\u003Cbr>Among others, the donation will feed the hungry, teach orang asli and refugee children, buy schooling needs for poor students, as well as improve the lives of the old, ill and needy. \u003Cbr>\u003Cbr>The 15 beneficiaries are Little Yellow Flower Education Foundation, Shepherd’s Centre Foundation Semenyih, Pertubuhan Kebajikan Thangam Illam, Stepping Stones Living Centre, Alzheimer’s Disease Foundation Malaysia, Persatuan Rumah Kanak-Kanak Trinity Selangor, Pertubuhan Kebajikan Anak-anak Yatim dan OKU Mesra Petaling Jaya, Home of Kan Ern, Autism Café Project Malaysia, Dignity for Children Foundation, Charwiki, Wisdom Club, Lighthouse Children Welfare Home Association, Arrow Harvest PLT and individual recipient Chang Jee Kee.\u003C/p>\u003Cp>IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) executive director and Bargain Basement founder Datin Joanne Wong said she was proud of the collective effort that engaged families, friends and the community in helping the needy. \u003Cbr>\u003Cbr>She also shared the advantages of regular spring cleaning. \u003Cbr>\u003Cbr>“Decluttering is a way of organising our lives. If you are not using or wearing the items, clear the clutter, regain your space and let someone else buy and use those items – all for a good cause. \u003Cbr>\u003Cbr>“Our environment needs a circular economy,” she added. \u003Cbr>\u003Cbr>Bargain Basement is a social enterprise that encourages the public to donate pre-loved or unused items, which are resold at their two outlets located in IOI City Mall Putrajaya and IOI Mall Puchong at low prices. Repeat donors and customers are called “Bargain Basement champions”. \u003Cbr>\u003Cbr>All nett proceeds are then channelled to charities. \u003Cbr>\u003Cbr>“Help us by being a Bargain Basement champion,” Wong said, adding that the initiative promoted kindness as well as the 3Rs, namely Reusing, Reducing and Recycling. \u003Cbr>\u003Cbr>For details, visit \u003Ca href=\"https://www.bargainbasement.com.my/ \">www.bargainbasement.com.my/\u003C/a>. \u003C/p>",{"id":10,"name":11},[2292],{"id":14,"name":15},{"name":2294,"file_name":2294,"url":2295},"20181212_1336061.jpg","https://www.ioigroup.com/storage/618/20181212_1336061.jpg","2025-05-16T12:01:22.000000Z","2025-05-02T09:53:04.000000Z",[],{"meta_title":2287,"meta_description":2300,"meta_keywords":28}," Bargain Basement champions and beneficiaries posing for a group photo during the cheque presentation ceremony.  The spirit of sharing is caring is we...",{"id":2302,"title":2303,"date":2304,"body":2305,"source":2306,"type":2307,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2297,"created_at":2297,"content_type":24,"related_news":2309,"metatag":2310},783,"Bursa Adds 4 New Constituents to FTSE4Good Index, Removes 3","2018-12-14T00:00:00.000000Z","KUALA LUMPUR (Dec 14): Bursa Malaysia Bhd has announced four new additions to the constituents of the FTSE4Good Bursa Malaysia (F4GBM) Index, and removed three constituents, bringing the total number of constituents to 56. \u003Cbr />\r\n\u003Cbr />In a statement today, Bursa Malaysia said the four new additions are Genting Plantations Bhd, IOI Corp Bhd, IOI Properties Group Bhd and PPB Group Bhd. \u003Cbr />\r\n\u003Cbr />Meanwhile, the three exclusions are KLCC Prop & REIT — Stapled Securities, Sasbadi Holdings Bhd and SEG International Bhd. \u003Cbr />\r\n\u003Cbr />The bourse said all changes in the constituents will take effect at the start of business on Monday, Dec 24. \u003Cbr />\r\n\u003Cbr />Launched in December 2014, the F4GBM Index measures the performance of public listed companies demonstrating strong environmental, social and governance practices. \u003Cbr />\r\n\u003Cbr />F4GBM Index constituents are drawn from the companies on the FTSE Bursa Malaysia EMAS Index, comprising listed firms from across the small, medium and large market capitalisation segments. \u003Cbr />\r\n\u003Cbr />The index is reviewed in June and December against international benchmarks developed in collaboration with FTSE Russell.",{"id":109,"name":110},[2308],{"id":14,"name":15},[],{"meta_title":2303,"meta_description":2311,"meta_keywords":28},"KUALA LUMPUR (Dec 14): Bursa Malaysia Bhd has announced four new additions to the constituents of the FTSE4Good Bursa Malaysia (F4GBM) Index, and remo...",{"id":2313,"title":2314,"date":2315,"body":2316,"source":2317,"type":2318,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2320,"created_at":2320,"content_type":24,"related_news":2321,"metatag":2322},780,"IOI Corp Reports Lower Q1 Net Profit on Forex Translation Loss","2018-11-12T00:00:00.000000Z","KUALA LUMPUR: IOI Corporation Bhd's net profit fell to RM143.8 million for the first quarter ended Sept 30, 2018 (Q1) from RM360 million in the same period a year ago. \u003Cbr />\r\n\u003Cbr />Revenue, however, was higher at RM1.88 billion from RM1.87 billion previously. \u003Cbr />\r\n\u003Cbr />In a filing to Bursa Malaysia, the company attributed the weaker profit to lower operating profit and total net foreign currency translation loss on foreign currency denominated borrowings and deposits. \u003Cbr />\r\n\u003Cbr />It said the plantation segment's profit was 51 percent lower year-on-year at RM149.5 million during the quarter under review, due to lower fresh fruit bunches production and lower crude palm oil (CPO) price realised. \u003Cbr />\u003Cbr />The resource-based manufacturing segment, on the other hand, registered a higher profit of RM129.2 million in the first quarter of the 2019 financial year (FY19) from RM106.6 million in the same period in FY18. \u003Cbr />\r\n\u003Cbr />Moving forward, IOI Corp expects the plantation segment's financial performance in the second quarter to be lower than the first quarter given the lower palm oil price. \u003Cbr />\r\n\u003Cbr />For the resource-based manufacturing segment, the company expects the oleochemical sub-segment to continue to perform well in the next quarter, with the low palm kernel price and steady demand for fatty acids and fatty esters. \u003Cbr />\r\n\u003Cbr />The refining sub-segment is expected to perform better in the next quarter due to improvement in refining and fractionation margins. \u003Cbr />\r\n\u003Cbr />“Overall, the group expects its financial performance for the next quarter to be satisfactory, albeit slightly lower than the previous quarter, due to the lower CPO price,” it said.\u003Cbr />",{"id":10,"name":11},[2319],{"id":14,"name":15},"2025-05-02T09:53:03.000000Z",[],{"meta_title":2314,"meta_description":2323,"meta_keywords":28},"KUALA LUMPUR: IOI Corporation Bhd's net profit fell to RM143.8 million for the first quarter ended Sept 30, 2018 (Q1) from RM360 million in the same p...",{"id":2325,"title":2326,"date":2327,"body":2328,"source":2329,"type":2330,"image":2332,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2335,"created_at":2336,"content_type":24,"related_news":2337,"metatag":2338},778,"Malaysian Palm Oil can Fill China’s Edible Oil Gap","2018-10-29T00:00:00.000000Z","\u003Cp> \u003C/p>\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/Stock2.jpg\" alt=\"\">\u003C/p>\u003Cp> \u003C/p>\u003Cp>Malaysia’s palm oil production is able to fill the shortage of edible oil in China as a result to its global trade conflict with the US. \u003Cbr>\u003Cbr>IOI Corp Bhd group CEO Datuk Lee Yeow Chor said Malaysia could be exporting between two million and three million tonnes of palm oil to China yearly. \u003Cbr>\u003Cbr>“The feedback we have received from Chinese oil-based producers is that they have definitely stopped buying soybeans from the US due to the 25% tariff. \u003Cbr>\u003Cbr>“They can import soybeans from other countries, but it could never replace the amount of supply from the US. As such, they have agreed that Malaysian palm oil can fill the edible oil gap,” he said at the group’s AGM in Putrajaya last Friday. \u003Cbr>\u003Cbr>Lee, who is also the Malaysian Palm Oil Council (MPOC) chairman, said the strong export activities to China would only be seen at the beginning of 2019 as the republic is still high on its edible oil stock. \u003Cbr>\u003Cbr>“We will have to wait at the moment because (China’s) vegetable oil stock is relatively high. \u003Cbr>\u003Cbr>“We expect that they would want to replenish the stock early next year when it runs low, and (that would see) more of our palm oil imported by China,” he said. \u003Cbr>\u003Cbr>The US and China have been involved in a trade war and exchanging a list of tariff goods, resulting in the 25% import tariff on US soybeans by China, which came as a response to the tariff on Chinese goods worth US$34 billion (RM141.94 billion). \u003Cbr>\u003Cbr>On Oct 22, Primary Industries Minister Teresa Kok told the Dewan Rakyat that the trade conflict between the two countries had led to higher exports of Malaysian palm oil up until August 2018. \u003Cbr>\u003Cbr>She said Malaysia’s export of palm oil to China rose 9.3% to 1.81 million tonnes between January and August this year compared to 1.65 million tonnes during the first eight months of 2017. \u003Cbr>\u003Cbr>Meanwhile, on the recent maiden visit by the European Commision to Malaysia, Lee said the representatives from the Malaysian Palm Oil Board and MPOC had extensively expounded on Malaysian palm oil cultivation and processing practices. \u003Cbr>\u003Cbr>“The minister (Kok) has managed to convince the European Commission to send delegations to Malaysia and allow us to participate in the panel that looks deeper into the indirect land use change. \u003Cbr>\u003Cbr>“It is a good sign that they are open to coming to Malaysia and our palm oil agencies will be able to give them the correct figures on our palm oil industry, which is important in determining the level of risk of biofuels,” he said. \u003Cbr>\u003Cbr>Commenting on the upcoming Budget 2019 which will be tabled this Friday, Lee hopes that the government will solidify its intention to implement the B10 biodiesel programme in order to address the palm oil’s falling price and higher inventory. \u003Cbr>\u003Cbr>“The government should push towards B10 biodiesel as there have been enough consultations with the stakeholders and carmakers. \u003Cbr>\u003Cbr>“It is time for the government to make a decision and revive its earlier policy on implementing the B10 for transportation, while considering at least B7 for industrial use,” he said. \u003Cbr>\u003Cbr>Lee added that palm oil producers are also hoping for more investment grants and incentives to be allocated by the government for the downstream segment. \u003Cbr>\u003Cbr>“We hope the government will continue to give investment grants and incentives to new downstream enterprises and to foreign downstream companies that have the high-technology equipment,” he said.\u003C/p>",{"id":336,"name":337},[2331],{"id":14,"name":15},{"name":2333,"file_name":2333,"url":2334},"stock2.jpg","https://www.ioigroup.com/storage/616/stock2.jpg","2025-05-04T08:05:54.000000Z","2025-05-02T09:53:02.000000Z",[],{"meta_title":2326,"meta_description":2339,"meta_keywords":28},"  Malaysia’s palm oil production is able to fill the shortage of edible oil in China as a result to its global trade conflict with the US. IOI Corp Bh...",{"id":2341,"title":2342,"date":2343,"body":2344,"source":2345,"type":2346,"image":2348,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2320,"created_at":2320,"content_type":24,"related_news":2351,"metatag":2352},779,"IOI’s Foundation Awards RM517,000 in Scholarships to 11 Outstanding Students","2018-10-27T00:00:00.000000Z","\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/DSC_0874.JPG\" alt=\"\" style=\"width: 500px; height: 333px;\" />\u003C/div>\u003Cp style=\"text-align: center;\">\u003Cem>Datin Joanne Wong (fifth from left) presented the mock cheque of RM517,000 to the 2018/2019 scholarship recipients.\u003C/em>\u003C/p>\u003Cp>IOI Group’s foundation, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), has awarded RM517,000 in scholarships to 11 outstanding students, with nine Bachelor Degree and two PhD recipients who are pursuing their full-time studies at recognised local institutions of higher learning. The two PhD recipients are from University of Malaya that recently signed a Memorandum of Agreement with IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) to enhance research and development in the field of sustainable oil palm plantation management.\u003C/p>\u003Cp>The scholars received recognition for their excellent achievements in their studies and extra-curricular activities at the Scholarship Presentation Ceremony which was held recently at IOI Headquarters in IOI Resort City. IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) Executive Director Datin Joanne Wong presented the certificates and cheques to the scholarship recipients. \u003C/p>\u003Cp>IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) is a charitable foundation set up as IOI’s Corporate Social Responsibility initiative. To date, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) has disbursed more than RM9 million worth of scholarships to 277 scholars since its introduction. The IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) Scholarship, which was established in 1998, is one of many educational programmes instituted under IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) to help students achieve their full potential by reducing the financial burden on the parents so that the students are able to concentrate on their studies. \u003C/p>\u003Cp>“We are determined to groom these young talents by offering them internships and employment with IOI upon their graduation,” said Datin Joanne. Scholarship recipients will have the opportunity to gain practical work experience as they undergo industrial training in IOI during their semester break. \u003C/p>\u003Cp>Meanwhile, first-year scholarship recipient from Multimedia University, Ms Ain Farah Amira, who is pursuing her Bachelor of Multimedia (Hons) (Advertising Design), aptly summarised the joy of the entire batch of scholars by stating the scholarship award “has certainly lightened the burdens of their parents and opened up a whole new window of opportunities for them.” The day’s programme included a video presentation on IOI’s Core Values, IOI’s core businesses and career talk by an IOI representative, sharing of experience by a previous IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) scholar, and a visit to Bargain Basement, an innovative social enterprise by IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) that encourages the public to donate pre-loved or unused items to help the community, located at IOI City Mall. \u003C/p>\u003Cp>Some of IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng)’s intitiatives are the Young Achievers’ Awards, Student Adoption Programme, School Adoption Programme, IOI-Puchong STEM Programme and collaborations with non-profit organisations such as HUMANA (Borneo Child Aid Society) in supporting the education of estate workers’ children and native children in East Malaysia.\u003C/p>\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/DSC_0883.JPG\" alt=\"\" style=\"width: 500px;\" />\u003C/div>\u003Cp style=\"text-align: center;\">\u003Cem>The scholars and guests posed for a group photo.\u003C/em>\u003C/p>\u003Cp style=\"text-align: center;\">\u003Cbr />\u003C/p>",{"id":1002,"name":1003},[2347],{"id":241,"name":564},{"name":2349,"file_name":2349,"url":2350},"dsc_0874.JPG","https://www.ioigroup.com/storage/617/dsc_0874.JPG",[],{"meta_title":2342,"meta_description":2353,"meta_keywords":28},"Datin Joanne Wong (fifth from left) presented the mock cheque of RM517,000 to the 2018/2019 scholarship recipients.IOI Group’s foundation, IOI Foundat...",{"id":2355,"title":2356,"date":2357,"body":2358,"source":2359,"type":2360,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2362,"created_at":2362,"content_type":24,"related_news":2363,"metatag":2364},774,"IOI Corp Expects Higher CPO Exports and Biodiesel Output to Boost FY19 Performance","2018-10-26T00:00:00.000000Z","\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">PUTRAJAYA: Global integrated and sustainable palm oil player IOI Corp Bhd sees two positive catalysts to further boost the group’s outlook in the current financial year ending June 30, 2019 (FY19). \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">Chief executive officer Datuk Lee Yeow Chor said he sees an opportunity for the group to ramp up its palm oil exports to China from early next year in the wake of reduced soybean imports by Beijing, due to the US-China trade war. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">Another positive factor Lee observes is the rally in oil price which has boosted the prospects for biodiesel, as the cheaper palm oil price compared to oil price provides the bright spot for the group to further stimulate the export of biodiesel to Europe. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">“These positive factors will become prominent early next year. Thus, I expect the CPO (crude palm oil) prices to trend higher next year from the current level,” Lee told at a press conference, after IOI Corp’s annual general meeting today. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">Lee said CPO prices are also expected to be higher by early next year, on the back of lower seasonal oil palm production. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">“Forward CPO price is RM100 higher than the October delivery price, as the palm oil production is expected to slow down in January and February, which in line with the seasonal trend,” he said. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">Lee also noted that strong demand for CPO from Asean countries, India, Africa and the Middle East will continue to provide a strong boost for the group’s palm oil exports going forward, which will help boost prices. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">Malaysian palm oil futures rose slightly on Friday after three straight sessions of falls due to a weaker ringgit, making palm oil more attractive to buyers holding foreign currencies. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange was up 0.1% at RM2,178 (US$521.68) a tonne at noon, after hitting its lowest level since Oct 11 at RM2,166 in the previous session. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">In the near term, however, Lee expects CPO prices to continue to trend low, at around RM2,100 to RM2,250 per tonne by end-2018, given rising stockpiles and production. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">According to the latest palm oil statistics from the Malaysia Palm Oil Board (MPOB), Malaysia's palm oil inventories edged up in September to their highest in eight months, surpassing market expectations as production levels came in higher than exports, despite a surge in overseas demand. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">The MPOB also reported September production rose 14.4% from August to its strongest in 10 months at 1.85 million tonnes. That was also the highest September level since 2015. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">“Although palm oil price will not be as high as it was last year, we are still able to achieve respectable and satisfactory results in FY19, supported by growth in FFB production and oleochemical profit contribution,” Lee said. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">On production levels for IOI Corp, the group has forecast a single digit year-on-year increase in fresh fruit bunches (FFB) production for FY19, partly driven by young trees in its Indonesia plantations and improvement in FFB production yield from Peninsula Malaysia, after a replanting programme. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">For FY18, the group’s net profit more than quadrupled to RM3.06 billion from RM743.2 million the year before, while revenue climbed 2.32% to RM7.42 billion from RM7.25 billion in FY17. The jump in earnings was supported by a forex gain of RM297.7 million throughout FY18, as opposed to losses of RM298.8 million last year. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">IOI Corp said the group is on the lookout for acquisitions, particularly for established plantations in Indonesia and Malaysia. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">“We prefer the acquired plantations to be close to our plantations, as it will be easy to combine and manage them… Currently, two-thirds of our Malaysian palm oil come from Sabah, and the remaining from West Malaysia,” Lee said. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">According to a media report, suitors for IJM Plantations Bhd include IOI Corp and Hap Seng Plantations Holdings Bhd. Citing sources, the report named IOI Corp as the leading candidate due to its financial resources and locations of its existing plantations in Sabah and Sarawak. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">According to IOI Corp’s latest annual report, its cash and cash equivalents stood at RM2.76 billion as at June 30. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">He urged the government to push for the implementation of the B10 biodiesel mandate on the transport sector and B7 biodiesel mandate for the industrial sector — in view of the current low CPO prices. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">IOI Corp’s share price fell two sen or 0.44% today to RM4.49, giving it a market capitalisation of RM28.34 billion.\u003C/span> ",{"id":109,"name":110},[2361],{"id":14,"name":15},"2025-05-02T09:53:01.000000Z",[],{"meta_title":2356,"meta_description":2365,"meta_keywords":28},"PUTRAJAYA: Global integrated and sustainable palm oil player IOI Corp Bhd sees two positive catalysts to further boost the group’s outlook in the curr...",{"id":2367,"title":2368,"date":2357,"body":2369,"source":2370,"type":2371,"image":2373,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2362,"created_at":2362,"content_type":24,"related_news":2376,"metatag":2377},775,"IOI PELITA LAND DISPUTE RESOLUTION PROCESS: First Joint Statement by IOI & Grassroots","\u003Cstrong style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">Background and History \u003C/strong>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">The IOI Pelita land dispute in Sarawak involves RSPO founding member IOI Group for whom this is a legacy issue which was inherited in 2006 through the purchase of Rinwood Oil Palm Plantation’ shares in their joint venture with Pelita (Sarawak State Land Custody and Development Authority). \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">In 2010 a complaint was submitted against IOI Pelita Plantation by Grassroots on behalf of the communities of Long Teran Kanan. In 2013 the case was handed over to the RSPO Dispute Settlement Facility for further action in moving the resolution process forward; however, no significant progress was achieved. In 2015 stakeholders attempted to resolve the case through a state-led approach using a mediated settlement, but did not succeed. The lack of a robust Free, Prior and Informed Consent (FPIC) process as well as insufficient consultations with the affected communities derailed this initiative. It was at that time when the scope of settlement got expanded to include another 5 villages, in addition to the original 2 in the legal claim, bringing the number of communities participating in the conflict resolution to 7. In 2016 the case reverted to the Complaints Panel (CP) for resolution. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">In 2017 a renewed effort was made to resolve the conflict as stakeholders and IOI started exploring a potential to jointly arrive at a sustainable and agreeable set of actions. Subsequently, IOI and Grassroots went on several joint visits to the affected communities to gather input which would help inform the drafting of the Resolution Plan. A new resolution plan was crafted incorporating Grassroots’ recommendations to reflect the aspirations of the communities, FPIC and RSPO standards. The CP provided IOI with detailed and comprehensive comments and these too were addressed and incorporated in the Resolution Plan. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cstrong style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">Resolution Plan \u003Cbr style=\"box-sizing: border-box;\" />\u003C/strong>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">The Resolution Plan was submitted to the RSPO CP for approval at the end of June 2018. The Plan follows a 3-stage approach: 1) building communities’ capacity, awareness and governance, 2) claims identification and validation, mainly through participatory mapping, and 3) negotiations for fair and lasting resolution of the conflict. The process is designed to conform to RSPO’s Principles & Criteria (P&C) requirements, particularly on implementing FPIC methodology. It has integrated the views of communities articulated in Grassroots’ previous recommendations. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">This Plan received the CP’s conditional endorsement at the end of June 2018. It was subsequently presented to all affected communities during a 7-day long visit on June 30 – July 6, 2018. The main purpose of this “socialisation” exercise was to explain the Resolution Plan and to seek communities’ consent for its implementation. Grassroots, Pelita and an RSPO representative participated alongside IOI’s team in this socialisation program. A non-binding consent from communities’ appointed leaders is a necessary prerequisite for the CP’s final endorsement of the Plan. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cstrong style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">Parties involved in \u003C/strong>\u003Cstrong style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">implementation\u003C/strong>\u003Cstrong style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\"> \u003C/strong>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cem style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">\u003Cspan style=\"box-sizing: border-box; text-decoration: underline;\">Grassroots \u003C/span>\u003C/em>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">After sustained engagement and dialogue with IOI, Grassroots decided, in the best interests of resolving this case, it was crucial it played an active role driving the process by providing advice and inputs to IOI’s planning and implementation. Circumstances and evolution of the case necessitates a different role to ensure the final goals are achieved. In July 2018, Grassroots entered into a contractual relationship with IOI to advice its team on the implementation of the Plan. This move was seen as the most efficient and effective for including the perspective of the complainants and affected communities. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cem style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">\u003Cspan style=\"box-sizing: border-box; text-decoration: underline;\">Civil Society\u003C/span>\u003C/em>\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\"> \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">The assistance of Sarawak civil society (JOAS and SADIA, both having knowledge of the conflict) to provide technical and other support to communities began in August 2018. It is envisaged communities will be able to call on expert advice on negotiating a settlement, documenting their claims and establishing their cases through a comprehensive program implemented by NGOs. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cem style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">\u003Cspan style=\"box-sizing: border-box; text-decoration: underline;\">Lead Facilitator \u003C/span>\u003C/em>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">In August 2018, a neutral, highly knowledgeable facilitator was engaged to assist the process by guiding the community-IOI interaction and negotiations. The facilitator has previously reviewed the case and has a strong understanding of the issues and context, which is an important advantage for anyone performing this role. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cem style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">\u003Cspan style=\"box-sizing: border-box; text-decoration: underline;\">Government Authorities\u003C/span>\u003C/em>\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\"> \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">Since the case involves overlapping land claims by the communities, native customary rights and the State’s rights as a landowner, IOI team has been intensively engaging the relevant state and local authorities to make sure they are part of the resolution process from the very beginning. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cem style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">\u003Cspan style=\"box-sizing: border-box; text-decoration: underline;\">RSPO\u003C/span>\u003C/em>\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\"> \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">The implementation of the Resolution Plan will be monitored by the RSPO’s Investigation Monitoring Unit. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cdiv style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">\u003Cstrong style=\"box-sizing: border-box;\">Free, Prior and Informed Consent (FPIC) based approach \u003Cbr style=\"box-sizing: border-box;\" />\u003C/strong>\u003Cbr style=\"box-sizing: border-box;\" />To further assist the understanding and implications of the Resolution Plan, IOI conducted another socialization workshop on August 11, 2018. Community leaders were invited to that workshop with the aim to improve their understanding of the Plan and its ramifications. Local civil society and the facilitator, all very familiar with the IOI Pelita case, participated in this workshop and explained their role in the dispute resolution process. Grassroots representative was also present. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />As of October 1, 2018, 6 of 9 communities confirmed their consent for the implementation of the Plan. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />IOI’s stakeholder engagement team and IOI Pelita’s community liaison officer have been engaging with the communities and other local stakeholders on a regular basis. The goal is to ensure communities are continuously updated on progress of the resolution process and able to provide their inputs or raise questions. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />Work on identifying outstanding claims from previous compensation exercise began in 2nd Quarter of 2018 with a series of individual land plots surveys conducted together with the community members to verify the exact location and size of these plots. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />\u003Cstrong style=\"box-sizing: border-box;\">Challenges facing implementation\u003C/strong> \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />With support from local NGOs data will be gathered to understand the full extent of issues that need attention as part of the resolution process. Direct consultation and ground-truthing with identified groups or individuals will lead to the “mapping” of claims. The limited number and size of the local NGOs, contrasting with the large number of dispersed and not easily accessible communities (9 groups), poses a challenge to the process which relies on intensive engagement with the affected communities to ensure alignment with RSPO requirements for a fair approach that includes FPIC. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />Government support will be of critical importance, especially at the 3rd stage of the resolution process when the community claims and concerns will be addressed and a fair settlement will be sought. At various levels the State government has offered its support for the Plan. However, at the end, all stakeholders, local authorities in particular, will have to display an open-minded stance on the complex native customary land issues in order to be able to finally, after 21 years, resolve the dispute and set a good precedence for the many similar cases facing local communities across Sarawak. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />It is expected that at each stage of the Resolution Plan implementation, there will be some obstacles and IOI and Grassroots will have to be persistent and resourceful to overcome them. A good example of such difficulties is the fact that the Resolution Plan which was developed specifically to safeguard communities’ interests, has still not received a consent from 3 communities. For the communities this process is new and the degree of distrust is still significant. As a result, some of the communities are extremely cautious in consenting to any formal process - especially when giving consent in writing. Therefore, they feel the need for their trusted political leaders (advisors) to endorse the Resolution Plan before they give their own consent. The IOI team is currently trying to assist the communities with this request, mainly by engaging their political leaders and explaining the Resolution Plan to them. Another permanent challenge is the remoteness of some of the affected communities and lack of adequate communication infrastructure in that area, including internet, telephone lines, and mobile communication coverage. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />It will be vitally important for IOI and its partners to tackle these issues and challenges in order to ensure compliance with the FPIC principles, fair process, transparency, and to lay a strong foundation for the settlement process. \u003Cbr style=\"box-sizing: border-box;\" />\u003C/div>\u003Cdiv style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">\u003Cbr style=\"box-sizing: border-box;\" />\u003C/div>\u003Cdiv style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial; text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/WhatsApp%20Image%202018-07-09%20at%205.53.27%20PM%20(1)(1).jpeg\" alt=\"\" style=\"box-sizing: border-box; border-style: initial; border-color: initial; border-image: initial; vertical-align: middle; width: 500px; height: 375px;\" />\u003C/div>\u003Cdiv style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial; text-align: center;\">\u003Cem style=\"box-sizing: border-box;\">IOI and Grassroots at the launch of the Resolution Plan Socialisation Program\u003C/em>\u003C/div>",{"id":1821,"name":1822},[2372],{"id":922,"name":1822},{"name":2374,"file_name":2374,"url":2375},"whatsapp_image_2018_07_09_at_55327_pm_11.jpeg","https://www.ioigroup.com/storage/614/whatsapp_image_2018_07_09_at_55327_pm_11.jpeg",[],{"meta_title":2368,"meta_description":2378,"meta_keywords":28},"Background and History The IOI Pelita land dispute in Sarawak involves RSPO founding member IOI Group for whom this is a legacy issue which was inheri...",{"id":2380,"title":2381,"date":2357,"body":2382,"source":2383,"type":2384,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2336,"created_at":2336,"content_type":24,"related_news":2386,"metatag":2387},776,"IOI Corp’s RSPO Complaint Closure is Credit Positive","\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">KUALA LUMPUR: IOI Corporation Bhd’s announcement that the Roundtable for Sustainable Palm Oil (RSPO) Complaints Panel officially closed a complaint case against its palm-oil plantation subsidiary in Ketapang, Indonesia, is credit positive for the company, says Moody’s Investors Service. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">In a statement yesterday, Moody’s said the closure reflected industry stakeholders’ recognition of the group’s continued commitment to sustainable palm-oil production. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">“The closure also removes the risk of further sanctions as a result of the initial complaint, which if unchecked, could lead to weaker earnings resulting from a loss of customers,” it said. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">RSPO is an association of palm-oil industry stakeholders which promoted the growth and use of sustainable oil-palm products. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">An environmental organisation, Aidenvironment, criticised IOI for clearing peatland in Ketapang which resulted in the company being suspended by RSPO between April and August 2016. The suspension was lifted after the company took remedial action to address the concern, said Moody’s. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">However, the case remained open amid the group implementing an action plan and third-party verification. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">“Since this incident, IOI had introduced a Sustainable Palm Oil Policy which outlined its commitment to a number of practices including no deforestation, no peat development and no development of high conservation value areas. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">“IOI has also taken a number of steps to improve sustainability practices, including obtaining third-party verification on its progress towards implementing sustainable policies. These steps were acknowledged by Greenpeace, an environmental activist organisation, in 2017,” it added. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">The increasing scrutiny by stakeholders including customers and investors on Environmental, Social and Governance (ESG) issues has prompted palm-oil producers to adopt and strictly implement sustainable practices that allowed for strong monitoring and mitigation of negative ESG impacts. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">“Amid growing awareness and demand for sustainable production, we expect companies such as IOI, which have RSPO certification, to be better positioned to benefit from the favourable long-term outlook for palm-oil demand,” said Moody’s. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">Certified crude palm oil and its derivatives are increasingly required by leading global food and household product companies, particularly in Europe and North America. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">Moodys said based on a CPO price assumption of RM2,300 per tonne, IOI’s profitability was expected to remain stable, with reported operating profit of around RM1.2 billion over the next 12-18 months. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">“Stronger sustainability standards will not result in an immediate increase in IOI’s earnings, but they limit the risk of reputation damage and loss of customers arising from further sustainability complaints,” it added.\u003C/span> ",{"id":241,"name":242},[2385],{"id":14,"name":15},[],{"meta_title":2381,"meta_description":2388,"meta_keywords":28},"KUALA LUMPUR: IOI Corporation Bhd’s announcement that the Roundtable for Sustainable Palm Oil (RSPO) Complaints Panel officially closed a complaint ca...",{"id":2390,"title":2391,"date":2392,"body":2393,"source":2394,"type":2395,"image":2397,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2400,"created_at":2401,"content_type":24,"related_news":2402,"metatag":2403},772,"Moody's Sees IOI Corp Profit at RM1.2b Over 12-18 Months","2018-10-25T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/Stock1(1).jpg\" alt=\"\">\u003C/p>\u003Cp>\u003Ci>IOI has also taken a number of steps to improve sustainability practices, including obtaining third-party verification on its progress towards implementing sustainable policies. \u003C/i>\u003Cbr>\u003Cbr> \u003C/p>\u003Cp>KUALA LUMPUR: Moody's Investors Service expects IOI Corporation to report operating profit of over RM1.2bil over the next 12 to 18 months based on its crude palm oil (CPO) price assumption of RM2,300 per tonne. \u003Cbr>\u003Cbr>The rating agency said on Thursday stronger sustainability standards will not result in an immediate increase in IOI's earnings, “but they limit the risk of reputation damage and loss of customers arising from further sustainability complaints”. \u003Cbr>\u003Cbr>Moody's said amid growing awareness and demand for sustainable production, it expects companies such as IOI, which have Roundtable for Sustainable Palm Oil (RSPO) certification, to be better positioned to benefit from the favourable long-term outlook for palm-oil demand. \u003Cbr>\u003Cbr>On Oct 22, IOI Corporation (Baa2 stable) announced that the RSPO's Complaints Panel has officially closed a complaint case against IOI's palm-oil plantation subsidiary in Ketapang, Indonesia. \u003Cbr>\u003Cbr>RSPO is an association of palm-oil industry stakeholders which promotes the growth and use of sustainable oil-palm products. \u003Cbr>\u003Cbr>Moody's said the case closure is credit positive for IOI because it reflects industry stakeholders' recognition of IOI's continued commitment to sustainable palm-oil production. \u003Cbr>\u003Cbr>“The closure also removes the risk of further sanctions as a result of the initial complaint, which if unchecked could lead to weaker earnings resulting from a loss of customers,” it said. \u003Cbr>\u003Cbr>To recap, a complaint by environmental organisation Aidenvironment criticising IOI’s clearing of peatlands in Ketapang resulted in IOI being suspended by RSPO between April and August 2016. \u003Cbr>\u003Cbr>RSPO lifted the suspension on certifying IOI's production after the company took remedial action to address the concerns. However, the complaint case remained open amid IOI's implemention of its action plan and third-party verification on progress. \u003Cbr>\u003Cbr>Since this incident, IOI introduced a sustainable palm oil policy which outlined its commitment to a number of practices including no deforestation, no peat development, and no development of high conservation value areas. \u003Cbr>\u003Cbr>IOI has also taken a number of steps to improve sustainability practices, including obtaining third-party verification on its progress towards implementing sustainable policies. \u003Cbr>\u003Cbr>These steps were acknowledged by Greenpeace, an environmental activist organisation, in 2017. \u003Cbr>\u003Cbr>“The increasing scrutiny from stakeholders including customers and investors on Environmental, Social and Governance (ESG) issues has prompted palm-oil producers to adopt and strictly implement sustainable practices that allow for strong monitoring and mitigation of negative ESG impacts,” said Moody's.\u003C/p>",{"id":10,"name":11},[2396],{"id":14,"name":15},{"name":2398,"file_name":2398,"url":2399},"stock11.jpg","https://www.ioigroup.com/storage/613/stock11.jpg","2025-05-04T08:06:20.000000Z","2025-05-02T09:53:00.000000Z",[],{"meta_title":2391,"meta_description":2404,"meta_keywords":28},"IOI has also taken a number of steps to improve sustainability practices, including obtaining third-party verification on its progress towards impleme...",{"id":2406,"title":2407,"date":2408,"body":2409,"source":2410,"type":2413,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2401,"created_at":2401,"content_type":24,"related_news":2415,"metatag":2416},773,"Malaysia's Palm Oil Output to See Stagnant Growth or Drop Slightly","2018-10-24T00:00:00.000000Z","\u003Cp style=\"box-sizing: border-box; margin: 0px 0px 10px; text-align: justify; line-height: 1.8em; padding: 8px 0px; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">NANJING: Malaysia's palm oil production is expected to experience stagnant growth or drop slightly this year due to lower yields, said Malaysia Palm Oil Council (MPOC) Chairman Datuk Lee Yeow Chor.\u003C/p>\u003Cp style=\"box-sizing: border-box; margin: 0px 0px 10px; text-align: justify; line-height: 1.8em; padding: 8px 0px; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">He said since palm oil was categorised as an agriculture product, the output usually fluctuated throughout the year depending on weather conditions. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />"Last year, our production stood at 19.9 million tonnes, up 15 per cent, from 2016's output of 17.5 million tonnes. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />"Because of the drastic growth in output last year, we foresee that this year's production will be stagnant or drop," he told reporters at the Malaysia-China Palm Oil Trade Fair and Seminar (Pots) 2018 here on Tuesday. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />Officiated by the Primary Industries Minister Teresa Kok, POTS 2018 attracted 400 participants from Malaysia and China. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />Themed, 'Enhanced Trade, Maximise Opportunities Through Malaysian Palm Oil', the one-day event was jointly organised by MPOC and the Malaysian Palm Oil Board.\u003C/p>",{"id":2411,"name":2412},81,"Daily Express",[2414],{"id":14,"name":15},[],{"meta_title":2407,"meta_description":2417,"meta_keywords":28},"NANJING: Malaysia's palm oil production is expected to experience stagnant growth or drop slightly this year due to lower yields, said Malaysia Palm O...",{"id":2419,"title":2420,"date":2421,"body":2422,"source":2423,"type":2424,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2401,"created_at":2401,"content_type":24,"related_news":2426,"metatag":2427},771,"Minister Says There’s Room to Grow Palm Oil Exports to China","2018-10-23T00:00:00.000000Z","\u003Cp style=\"box-sizing: border-box; margin: 0px 0px 10px; text-align: justify; line-height: 1.8em; padding: 8px 0px; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">NANJING, China, Oct 23 — There is still room to grow Malaysia’s palm oil export to China given the continuous increase in demand and consumption, says Primary Industries Minister Teresa Kok. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />She said the additional 25 percent import tax imposed by China on US soybean oil had resulted in reduced imports which created a reduction in the supply of edible oils while creating opportunities to increase Malaysian palm oil exports.\u003C/p>\u003Cp style=\"box-sizing: border-box; margin: 0px 0px 10px; text-align: justify; line-height: 1.8em; padding: 8px 0px; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">Malaysia’s palm oil exports to China rose 9.3 percent to 1.81 million tonnes for January to August 2018 period, compared with 1.65 million tonnes exported during the same period in 2017. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />“Based on current performance, the export of palm oil derivatives to China is poised to equal or even exceed last year’s total,” Kok told reporters after officiating the Malaysia-China Palm Oil Trade Fair and Seminar (POTS) 2018 here today.\u003C/p>\u003Cp style=\"box-sizing: border-box; margin: 0px 0px 10px; text-align: justify; line-height: 1.8em; padding: 8px 0px; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">In 2017, Malaysia exported 2.87 million tonnes of palm oil and palm oil derivatives worth RM9.42 billion to China. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />On the additional 500,000 tonnes of palm oil China is considering to buy from Malaysia announced during Prime Minister Tun Dr Mahathir Mohamad’s recent visit, Kok said the relevant parties were in discussions and the final decision was expected to be made by early 2019.\u003C/p>\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">Meanwhile, Malaysian Palm Oil Council (MPOC) Chairman Datuk Lee Yeow Chor said Malaysian palm oil is important to China as it is used in a wide range of applications. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">“Although palm oil in China is mainly used as cooking oil for both industrial and domestic sectors, there are other areas where the use of palm oil can be expanded further. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">“These include use in confectioneries such as chocolates, bakeries, as well as cosmetics and pharmaceuticals. I would even go as far as to promote palm oil biodiesel should China decide to set biodiesel mandates in the future,” he said. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">Lee added the potential for higher utilisation of palm oil would be tremendous considering China’s rapid industrial and economic development. \u003C/span>\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cbr style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\" />\u003Cspan style=\"color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">POTS 2018 themed “Enhance Trade, Maximise Opportunities through Malaysian Palm Oil” is a one-day event jointly organised by MPOC and the Malaysian Palm Oil Board that has attracted 400 participants from Malaysia and China.\u003C/span>",{"id":1701,"name":1702},[2425],{"id":14,"name":15},[],{"meta_title":2420,"meta_description":2428,"meta_keywords":28},"NANJING, China, Oct 23 — There is still room to grow Malaysia’s palm oil export to China given the continuous increase in demand and consumption, says...",{"id":2430,"title":2431,"date":2432,"body":2433,"source":2434,"type":2435,"image":2437,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2440,"created_at":2440,"content_type":24,"related_news":2441,"metatag":2442},770,"SOUTH KETAPANG LANDSCAPE INITIATIVE: IOI Group, Aidenvironment and Global Environment Centre launch the South Ketapang Landscape Initiative in West Kalimantan, Indonesia","2018-10-19T00:00:00.000000Z","\u003Cp style=\"box-sizing: border-box; margin: 0px 0px 10px; text-align: justify; line-height: 1.8em; padding: 8px 0px; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial;\">The South Ketapang Landscape Initiative is a result of IOI Group’s commitment to develop a collaborative way to tackle the most common and critical issues such as peatland management, biodiversity and wildlife protection, flood and fire prevention and control, and community livelihood development within the ecologically diverse South Ketapang landscape. The South Ketapang landscape encompasses an area of about 500,000 hectares, of which about 40,000 hectares consist of IOI’s oil palm concessions. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />The initiative will forge partnerships among companies operating in the area, local government, communities and civil society which will be guided by a shared vision on sustainable development and conservation. It will involve novel approaches and deliveries such as legally securing conservation (HCV and HCS) areas, and will capitalize on opportunities presented by the Indonesian land reform and social forestry policy. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />Aidenvironment, a foundation with offices in Bogor and Ketapang, Indonesia, with expertise in sustainable landscape management and Global Environment Centre, a non-profit organization specializing in community-based peatland management, together with IOI are the implementing partners for this landscape initiative. \u003Cbr style=\"box-sizing: border-box;\" />\u003Cbr style=\"box-sizing: border-box;\" />The initiative is expected to be implemented over 5 years in stages, with the first 12-month program starting in October 2018.\u003Cbr style=\"box-sizing: border-box;\" />\u003C/p>\u003Cdiv style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial; text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/IMG_9725_v2(1).jpg\" alt=\"\" style=\"box-sizing: border-box; border-style: initial; border-color: initial; border-image: initial; vertical-align: middle; width: 800px; height: 725px;\" />\u003C/div>\u003Cdiv style=\"box-sizing: border-box; color: #333333; font-family: Helvetica; font-size: 14px; text-decoration-color: initial; text-align: center;\">\u003Cem style=\"box-sizing: border-box;\">Implementing partners: IOI, Aidenvironment and GEC.\u003C/em>\u003C/div>",{"id":1821,"name":1822},[2436],{"id":922,"name":1822},{"name":2438,"file_name":2438,"url":2439},"img_9725_v21.jpg","https://www.ioigroup.com/storage/612/img_9725_v21.jpg","2025-05-02T09:52:59.000000Z",[],{"meta_title":2431,"meta_description":2443,"meta_keywords":28},"The South Ketapang Landscape Initiative is a result of IOI Group’s commitment to develop a collaborative way to tackle the most common and critical is...",{"id":2445,"title":2446,"date":2447,"body":2448,"source":2449,"type":2450,"image":2452,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2455,"created_at":2440,"content_type":24,"related_news":2456,"metatag":2457},769,"IOI Group bagged the HR Asia's Best Companies to Work for in Asia 2018 Award","2018-10-12T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/hr2018(1).jpg\">\u003C/p>\u003Cp>We are proud to announce that IOI Group has bagged the \u003Cstrong>HR Asia’s Best Companies to Work for in Asia 2018 Award\u003C/strong>. This prestigious award is an acknowledgement of IOI Group’s proven track record of excellence in delivering organisational growth and strategic human capital development. \u003Cbr>\u003Cbr>Head of Group Human Resource Development Puan Hezzimon Binti Abdul Hamid received the award on behalf of IOI Corporation Berhad and IOI Properties Group Berhad on 12 October 2018 at the HR Asia Awards 2018’s ceremony held at the New World Hotel. HR Asia Awards 2018, organised by HR Asia, is Asia’s most authoritative publication for human resource professionals, and covers 12 markets across the region. \u003Cbr>\u003Cbr>We believe our employees are key to our success and we would like to dedicate this award to our fellow IOI colleagues for making this possible! \u003C/p>",{"id":1002,"name":1003},[2451],{"id":14,"name":15},{"name":2453,"file_name":2453,"url":2454},"hr20181.jpg","https://www.ioigroup.com/storage/611/hr20181.jpg","2025-05-04T08:06:57.000000Z",[],{"meta_title":2446,"meta_description":2458,"meta_keywords":28},"We are proud to announce that IOI Group has bagged the HR Asia’s Best Companies to Work for in Asia 2018 Award. This prestigious award is an acknowled...",{"id":2460,"title":2461,"date":2462,"body":2463,"source":2464,"type":2465,"image":2467,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2440,"created_at":2440,"content_type":24,"related_news":2470,"metatag":2471},768,"IOI PELITA LAND DISPUTE RESOLUTION PROCESS: Introductory Workshop on Facilitation and Capacity Building","2018-09-12T00:00:00.000000Z","\u003Cp>To further enhance the socialization of the Draft Resolution Plan and assist communities in deciding whether or not to give their consent to the plan, IOI invited all community leaders and Penghulu (traditional leader) to gather together in Miri for a workshop on facilitation and capacity building. Jaringan Orang Asal SeMalaysia (JOAS), a local NGO, and an independent lead facilitator, Dr. Ramy Bulan, introduced themselves and their organizations and talked about their experience with the case and explained how they could assist the resolution process through facilitation and community capacity building. Community members living in Miri were also invited to the meeting. Grassroots representative Mr. Lim Si Siew was present as well.\u003C/p>\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/IMG_7738.JPG\" alt=\"\" style=\"width: 672px; height: 504px;\" />\u003C/div>\u003Cp style=\"text-align: center;\">\u003Cem>Community leaders at the workshop held on August 11 in Miri, Sarawak\u003C/em>\u003C/p>\u003Cp>For full report of this workshop, please click \u003Ca href=\"https://www.ioigroup.com/Files/News/pdf/IOI_Pelita_Workshop_20180912.pdf\" target=\"_blank\">HERE\u003C/a>.\u003C/p>\u003Cp> \r\n\u003Cbr />\u003C/p>",{"id":1821,"name":1822},[2466],{"id":922,"name":1822},{"name":2468,"file_name":2468,"url":2469},"img_7738.JPG","https://www.ioigroup.com/storage/610/img_7738.JPG",[],{"meta_title":2461,"meta_description":2472,"meta_keywords":28},"To further enhance the socialization of the Draft Resolution Plan and assist communities in deciding whether or not to give their consent to the plan,...",{"id":2474,"title":2475,"date":2476,"body":2477,"source":2478,"type":2479,"image":2481,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2484,"created_at":2485,"content_type":24,"related_news":2486,"metatag":2487},789,"In Defence of Palm Oil","2018-08-17T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/DLYC(2).jpg\" alt=\"\">\u003C/p>\u003Cp>MALAYSIA is a country that is built for business and trade. We are relatively small geographically and in population terms, but we have a dynamic economy, a skilled and educated workforce, and we are situated at the crossroads of strategically important trading routes. \u003Cbr>\u003Cbr>As Malaysia’s business leaders look around the world, it is clear that there is a lack of leadership in international trade. The United States, China and the European Union are locked in bitter bilateral and trilateral disputes over trade, and other countries risk being caught in their lines of fire. \u003Cbr>\u003Cbr>For a global exporter such as Malaysia, and for our strategic national commodities, this is potentially highly damaging. If and when this impacts Malaysia, we will need to take decisive action. \u003Cbr>\u003Cbr>Prime Minister Tun Dr Mahathir Mohamad has identified the importance of Malaysia standing up to those who wish to undermine our overseas exports. \u003Cbr>\u003Cbr>Recently, the Prime Minister stated that Malaysia must “fight their argument that the palm oil industry is behind deforestation and has a bad impact on climate.” He rightly pointed out that “this is not true at all.” \u003Cbr>\u003Cbr>Dr Mahathir was referencing the European Union, which has spent much of the past 12 months attempting to ban palm oil biofuel exports. \u003Cbr>\u003Cbr>Dr Mahathir is right, not just in his analysis of the EU’s flawed arguments – it is a scientific fact that palm oil is far more efficiently produced than competitor oils, and therefore has a significantly lower environmental footprint – but also in his strategic approach. Malaysia should not wait for others to lead or to continue making claims before we respond. \u003Cbr>\u003Cbr>The private sector has an important role to play. The Prime Minister and the government cannot be expected to shoulder the burden of leadership alone. Those of us in the industry must be ready and willing to do our share of the work. \u003Cbr>\u003Cbr>After all, Malaysia’s palm oil business leaders have daily interactions with customers, suppliers, traders, multinationals, NGOs, multi-stakeholder groups, certification bodies and journalists. \u003Cbr>\u003Cbr>In each of these encounters we must strongly defend Malaysia’s record of environmental and social stewardship. \u003Cbr>\u003Cbr>The recent EU attempt to ban palm oil biofuels was an excellent example of how Malaysians utilising this approach can defeat a major threat to our exports. The small farmers of Malaysia led a strong campaign that ultimately won the day in Brussels. \u003Cbr>\u003Cbr>The palm oil biofuel ban is no more. But new threats are already surfacing, and will require immediate action in Europe. \u003Cbr>\u003Cbr>What are these new threats facing the palm oil sector in the weeks and months ahead – the issues where, as the Prime Minister states, we will need to “fight the argument”? \u003Cbr>\u003Cbr>First, the EU is now considering whether to classify palm oil biofuels as “high risk”. They will use unproven scientific methodologies – Indirect Land-Use Change (ILUC) and High Carbon Stock (HCS) – in their attempt to install a de facto ban. Despite Malaysian oil palm being grown on lands largely converted from coffee, cocoa and rubber which were planted since the earlier part of last century, there have been calls from the EU to disqualify palm oil using the ILUC methodology. \u003Cbr>\u003Cbr>This fight will unfold quickly: between July 2018 and February 2019, the EU will determine whether Malaysia’s palm oil biofuels are high risk. If this happens, it will provide the EU with a convenient “justification” to discriminate against palm oil biofuel imports. \u003Cbr>\u003Cbr>Secondly, the EU is pursuing a “deforestation regulation” (known in Brussels as the Action Plan on Deforestation). This seeks to regulate and restrict all palm oil imports into the EU. It has the potential to wholly undermine the Malaysian palm oil industry, regardless of Malaysia’s excellent track record in maintaining its forests. \u003Cbr>\u003Cbr>This is not a secret. European leaders, including the ambassadors of France, the UK and the EU itself who are stationed in Kuala Lumpur, have signalled clearly that the new efforts to restrict palm oil are coming. The deforestation regulation will target not only palm oil, not only Malaysia, but potentially almost all commodities and crops from developing nations. \u003Cbr>\u003Cbr>The opportunity is there for cooperation with our friends and allies across the developing world, to build a mutually beneficial stance against this regulation. The Council of Palm Oil Producing Countries (CPOPC) can take a leading role in defending the industry. \u003Cbr>\u003Cbr>However, our first duty must be to Malaysia. We must protect our model of oil palm development, our small farmers, and our exporters. This will require both defending Malaysia’s track record, and also proactively communicating the positive differentiators that make Malaysia the world’s gold standard for oil palm cultivation. \u003Cbr>\u003Cbr>We know from experience that this will not be easy, nor without complications. That, though, is what leadership entails. \u003Cbr>\u003Cbr>The Prime Minister is right that Malaysia must counter the EU’s arguments. It is time for the private sector and the Malaysian citizens at large to do our part once again. \u003Cbr>\u003Cbr>\u003Cbr>Read more at https://www.thestar.com.my/opinion/columnists/palm-voices/2018/08/17/in-defence-of-palm-oil-call-to-private-sector-to-back-government-stance-against-eu-discrimination/#mgm2mbUVEIoK8AjS.99\u003C/p>",{"id":10,"name":11},[2480],{"id":14,"name":15},{"name":2482,"file_name":2482,"url":2483},"dlyc2.jpg","https://www.ioigroup.com/storage/622/dlyc2.jpg","2025-05-04T08:07:18.000000Z","2025-05-02T09:53:06.000000Z",[],{"meta_title":2475,"meta_description":2488,"meta_keywords":28},"MALAYSIA is a country that is built for business and trade. We are relatively small geographically and in population terms, but we have a dynamic econ...",{"id":2490,"title":2491,"date":2476,"body":2492,"source":2493,"type":2494,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2496,"created_at":2496,"content_type":24,"related_news":2497,"metatag":2498},767,"IOI Earnings Hit by Forex Loss in 4Q","\u003Cdiv>KUALA LUMPUR (Aug 17): IOI Corp Bhd’s net profit for the fourth quarter ended June 30, 2018 (4QFY18) retreated 88.72% to RM35.8 million from RM317.5 million previously, mainly on foreign exchange losses incurred in the quarter, compared with gains in the same period last year.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Quarterly earnings per share (EPS) slumped to 0.57 sen, from 5 sen in 4QFY17. Nonetheless, the company declared a second interim dividend of 4.5 sen per share, against 5 sen in the same quarter last year.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>In the quarter under review, IOI Corp booked a net forex loss of RM169.2 million from its foreign currency-denominated deposits, against a gain of RM112 million last year, resulting in a gap of RM281.2 million on this item alone.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>IOI also incurred a lower operating profit, mitigated by better interest income and performance from its associates and joint ventures.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Quarterly revenue rose 4% to RM1.8 billion, from RM1.73 billion.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>For the full-FY18 period, IOI’s net profit more than quadrupled to RM3.06 billion from RM743.2 million the year before, while revenue climbed 2.32% to RM7.42 billion from RM7.25 billion in FY17.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>The jump in earnings was supported by a forex gain of RM297.7 million throughout FY18, as opposed to losses of RM298.8 million last year.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>In terms of operations, IOI said its plantation segment's FY18 profit fell 17.91% to RM1.01 billion in due to lower realised crude palm oil and palm kernel prices, as well as lower CPO extraction rates mitigated by higher production of fresh fruit bunches.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Its resource-based manufacturing segment's profit more than doubled to RM384 million from RM184.7 million in FY17, backed by higher sales volume across all sub-segments and higher margins from the oleo-chemical sub-segment.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>IOI expects palm oil prices to be supported at RM2,200 per tonne, amid slower-than-expected growth in production and inventory volumes.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>It is looking forward to a seasonal production increase in Malaysia, as well as continued growth from its young plantation in Indonesia and from its associate Bumitama Agri Ltd.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>On its manufacturing segment, IOI expects the oleo-chemical sub-segment to perform “relatively well”, owing to moderately low feedstock costs, notwithstanding the US-China trade spat uncertainties.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>IOI cautioned the strengthening US dollar will contribute to forex loss on its greenback-denominated borrowings in the “medium to long term”.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>It however added that the retention of the balance of the Loders Croklaan [Group BV] share sale proceeds in US dollar, will provide a natural hedge and mitigate part of this translation loss.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>IOI rose 4 sen or 0.88% to RM4.57 today, for a market capitalisation of RM28.47 billion.\u003C/div>",{"id":109,"name":110},[2495],{"id":14,"name":15},"2025-05-02T09:52:58.000000Z",[],{"meta_title":2491,"meta_description":2499,"meta_keywords":28},"KUALA LUMPUR (Aug 17): IOI Corp Bhd’s net profit for the fourth quarter ended June 30, 2018 (4QFY18) retreated 88.72% to RM35.8 million from RM317.5 m...",{"id":2501,"title":2502,"date":2503,"body":2504,"source":2505,"type":2506,"image":2508,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2496,"created_at":2496,"content_type":24,"related_news":2511,"metatag":2512},766,"IOI Partners with University of Malaya to Advance Palm Oil Industry","2018-08-15T00:00:00.000000Z","\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Exchanging%20of%20Respective%20MoA%20Documents.JPG\" alt=\"\" style=\"width: 800px; height: 458px;\" />\u003C/div>\u003Cdiv style=\"text-align: center;\">\u003Cem>UM’s \u003C/em>\u003Cem>Vice Chancellor\u003C/em>\u003Cem> Datuk Ir. (Dr.) Abdul Rahim Hashim and IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng)’s Executive Director Datin Joanne Wong Su Ching exchanged the MOA documents while looked on by representatives from UM and IOI.\u003C/em>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>KUALA LUMPUR, 15 August 2018 – IOI Group’s charity arm, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) and University of Malaya (UM) represented by its Faculty of Science have entered into the signing of a Memorandum of Agreement (MoA) which marks the collaborative efforts between the two institutions to further enhance research and development in the field of sustainable palm oil plantation management. \u003C/div>\u003Cdiv>\u003Cbr />The MoA was signed today between IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), which was represented by its Executive Director Datin Joanne Wong Su Ching and Biotechnology Controller of IOI Corporation Berhad (IOI) Dr. Lim Loon Lui, and UM which was represented by its Vice Chancellor Datuk Ir. (Dr.) Abdul Rahim Hashim and Acting Dean Faculty of Science, Professor Dr. Zanariah Abdullah. \u003C/div>\u003Cdiv>\u003Cbr />The first phase of this effort will consist of a collaborative research project between the two institutions through these two selected projects – development of bio-fertiliser using empty fruit bunch biochar and beneficial microbes and a study of species diversity of rats in palm oil plantations in Peninsular Malaysia and its control strategies. \u003C/div>\u003Cdiv>\u003Cbr />IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) was established in 1994 by the founder of IOI Group to contribute towards education, welfare and advancement of the country. Since its formation, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) has impacted countless lives through its corporate social responsibility initiatives. IOI is committed to best management and good agricultural practices such as integrated pest management, as well as to its continued research and development in environmentally-friendly agro-land management. \u003C/div>\u003Cdiv>\u003Cbr />This research collaboration enables both parties to share their existing know-hows and to tap the innovation potentials that could help unlock new commercial opportunities. This initiative will serve to further push the agenda for encouraging and supporting further study by exemplary students and investment in higher education for qualified Malaysian youths. With this MOA, IOI is able to combine its corporate objectives together with its educational welfare programs in line with government efforts in promoting PPP’s (Public Private Partnerships). \u003C/div>\u003Cdiv>\u003Cbr />Malaysia is the world’s second largest producer of palm oil with an export value of RM75 billion in 2017. The production of palm oil in Malaysia is anticipated to be MSPO (Malaysian Sustainable Palm Oil) standards compliant by the end of 2019. IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) and UM believe that this strategic collaboration will benefit both parties in nurturing talent and in creating impactful innovative strategies in the palm oil industry. \u003Cbr />\u003Cbr />\u003C/div>",{"id":1002,"name":1003},[2507],{"id":14,"name":15},{"name":2509,"file_name":2509,"url":2510},"exchanging_of_respective_moa_documents.JPG","https://www.ioigroup.com/storage/609/exchanging_of_respective_moa_documents.JPG",[],{"meta_title":2502,"meta_description":2513,"meta_keywords":28},"UM’s Vice Chancellor Datuk Ir. (Dr.) Abdul Rahim Hashim and IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng)’s Executive Director Dat...",{"id":2515,"title":2516,"date":2517,"body":2518,"source":2519,"type":2520,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2496,"created_at":2496,"content_type":24,"related_news":2522,"metatag":2523},765,"IOI PELITA LAND DISPUTE RESOLUTION PROCESS: IOI Pelita Land Dispute Update: Socialisation of Resolution Plan","2018-07-31T00:00:00.000000Z","\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>IOI Corporation Berhad (IOI) has been working with the Roundtable on Sustainable Palm Oil (RSPO) Complaints Panel and other stakeholders to resolve the IOI Pelita land dispute issue. Recent efforts have been focusing on the development of a resolution plan that follows the FPIC spirit and meets the RSPO P&C for conflict resolution. The resolution plan received a conditional endorsement from the Complaints Panel in end of June 2018. As a result, IOI was able to go ahead with the resolution plan socialisation visit to all 11 communities involved in the dispute to seek their consent for the implementation of the resolution plan.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>After a week-long trip from 28 June to 6 July 2018 in Tinjar, Sarawak, IOI team successfully concluded a socialisation programme with 11 local communities who are participating in the IOI Pelita’s land dispute resolution process.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>In addition to IOI’s Head of Stakeholder Engagement Mr. Carl Dagenhart, and his team, the group of visitors included Grassroots’ representatives Mr. Andrew Ng and Mr. Lim Si Siew, RSPO’s representative Mr. Senniah Appalasamy and Pelita’s representative Mr. Samuel Batok.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>For more information, please click \u003Ca href=\"https://www.ioigroup.com/Files/News/pdf/IOI Pelita Update_20180731.pdf\">HERE\u003C/a> to read the full update.\u003C/div>",{"id":1821,"name":1822},[2521],{"id":922,"name":1822},[],{"meta_title":2516,"meta_description":2524,"meta_keywords":28},"IOI Corporation Berhad (IOI) has been working with the Roundtable on Sustainable Palm Oil (RSPO) Complaints Panel and other stakeholders to resolve th...",{"id":2526,"title":2527,"date":2528,"body":2529,"source":2530,"type":2531,"image":2533,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2536,"created_at":2536,"content_type":24,"related_news":2537,"metatag":2538},764,"Palm Oil Industry Gives RM5.3 million to Tabung Harapan","2018-07-20T00:00:00.000000Z","\u003Cdiv>\u003Cspan style=\"color: #000000;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/IOIC%20donates%20RM2mil%20to%20Tabung%20Harapan.jpg\" alt=\"\" />\u003C/span>\u003C/div>\u003Cdiv>\u003Cspan style=\"color: #000000;\">\u003Cem>Primary Industries Minister Teresa Kok (centre) receives the mock cheque from Sarawak Oil Palm Group chief executive officer Paul Wong (2nd-left), IOI Corporation Group chief executive officer Datuk Lee Yeow Chor (3rd-left), KLK chief executive officer Tan Sri Lee Oi Hian (3rd-right) and Sime Darby Plantation executive deputy chairman and managing director Tan Sri Mohd Bakke Salleh (2nd-right) during the ceremony in Putrajaya.\u003C/em>\u003Cbr />\u003C/span>\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cspan style=\"color: #000000;\">PUTRAJAYA: Four key players in the palm oil industry today gave RM5.3 million to Tabung Harapan Malaysia to help in paying off the country’s national debt. \u003Cbr />\r\n\u003Cbr />IOI Corporation Bhd and Kuala Lumpur Kepong Bhd (KLK) each contributed RM2 million, Sime Darby Bhd gave RM1 million while Sarawak Oil Palm Bhd made a contribution of RM300,000. \u003Cbr />\r\n\u003Cbr />IOI Corporation Group chief executive officer Datuk Lee Yeow Chor said: “Coming from the leading palm oil companies representing one of the important pillars of the Malaysian economy, this contribution is seen as a fulfilment of our corporate social responsibility to the nation. \u003Cbr />\r\n\u003Cbr />“The contribution is also a very meaningful gesture, symbolising our solidarity and support of the new government in resolving the many challenges faced by the country,” he said after the donation was handed over to Primary Industries Minister Teresa Kok today. \u003Cbr />\r\n\u003Cbr />Also present were KLK chief executive officer Tan Sri Lee Oi Hian, Sime Darby Plantation executive deputy chairman and managing director Tan Sri Mohd Bakke Salleh as well as Sarawak Oil Palm Group CEO Paul Wong. \u003Cbr />\r\n\u003Cbr />Kok said Pakatan Harapan (PH) was touched by the gesture of Malaysians and corporations who had donated to the fund. \u003Cbr />\r\n\u003Cbr />“Today, we have big palm oil industry players joining the effort. Thank you for this sincere and exemplary gesture needed at a time when we are facing crucial times. \u003Cbr />\r\n\u003Cbr />“I salute you for rising to the occasion and giving to the country without expecting anything in return. This action embodies the true Malaysian spirit. \u003Cbr />\r\n\u003Cbr />“We should all ask ourselves what we can do for the country and not what the country can do for us,” she said. \u003Cbr />\r\n\u003Cbr />Kok added over the years the palm oil industry had played an instrumental and key role in Malaysia’s economic development, particularly in terms of poverty eradication and socio-economic restructuring. \u003Cbr />\r\n\u003Cbr />It has been a main contributor to the nation’s economy where the export value of palm oil and palm-based products in 2017 reached RM77.8 billion, an increase of 15.6 per cent over the total export revenue in 2016. \u003Cbr />\r\n\u003Cbr />“I also urge those in the palm oil sector to work with the government in addressing various challenges, misallegations and unsubstantiated negative perceptions faced by the industry,” said Kok.\u003Cbr />\u003C/span>\u003C/div>\u003Cdiv>\u003Cspan style=\"color: #000000;\">\u003Cbr />\u003C/span>\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>",{"id":53,"name":54},[2532],{"id":14,"name":15},{"name":2534,"file_name":2534,"url":2535},"ioic_donates_rm2mil_to_tabung_harapan.jpg","https://www.ioigroup.com/storage/608/ioic_donates_rm2mil_to_tabung_harapan.jpg","2025-05-02T09:52:57.000000Z",[],{"meta_title":2527,"meta_description":2539,"meta_keywords":28},"Primary Industries Minister Teresa Kok (centre) receives the mock cheque from Sarawak Oil Palm Group chief executive officer Paul Wong (2nd-left), IOI...",{"id":2541,"title":2542,"date":2543,"body":2544,"source":2545,"type":2546,"image":2548,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2536,"created_at":2536,"content_type":24,"related_news":2551,"metatag":2552},763,"IOI PELITA LAND DISPUTE RESOLUTION PROCESS: Update Statement on IOI Pelita","2018-05-31T00:00:00.000000Z","\u003Cdiv>\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"font-size: 12pt;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"color: #000000;\"> \u003C/span>\u003C/span>\u003C/span>\u003C/span>\u003C/div>\r\n\u003Cp>\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"font-size: 12pt;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"color: #000000;\">IOI Corporation Berhad (IOI) has been working closely with its stakeholders concerning the IOI Pelita case, including Grassroots (the complainant) and the Complaints Panel of Roundtable on Sustainable Palm Oil (RSPO) in order to finalise its Resolution Plan. Pending the finalisation of the Grassroots’ role in the resolution process and its acceptance by the Complaints Panel, IOI will proceed with the socialisation of the plan. The implementation of the Resolution Plan will begin once communities’ consent is obtained. \u003C/span>\u003C/span>\u003C/span>\u003C/span>\u003C/p>\r\n\u003Cdiv>\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"font-size: 12pt;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"color: #000000;\">\u003Cbr />On 21-25 May, IOI’s Head of Stakeholder Engagement and his team visited all seven main longhouses and four break-away groups to update the communities on the Group’s progress with RSPO and have open dialogues with them. The IOI team also met with both the new Resident of Miri and the new District Officer to brief them on the case and secure their support. The outcomes of the engagement have been shared with Grassroots and RSPO.\u003C/span>\u003C/span>\u003C/span>\u003C/span>\u003C/div>\r\n\u003Cdiv>\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"font-size: 12pt;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"color: #000000;\">\u003Cbr />Additionally, IOI has embarked on several initiatives that will ready the Group for the implementation phase of the Resolution Plan. The initiatives include planning work for the perimeter mapping and individual land parcel survey that will be conducted together with the community; the compilation of a list of NGOs and legal advisors for the community capacity building, and the development of socialisation materials and its translation into local dialects. IOI and Grassroots plan to conduct the socialisation visit in the early July 2018. \u003C/span>\u003C/span>\u003C/span>\u003C/span>\u003C/div>\r\n\u003Cdiv style=\"text-align: left;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"font-size: 12pt;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"color: #000000;\">\u003Cbr />Finally, IOI Pelita, through its Community Liaison Team, has consistently engaged the communities and provided valuable CSR assistance. As a result, the relationship between IOI and the communities has improved significantly.\u003C/span>\u003C/span>\u003C/span>\u003C/span>\u003C/div>\r\n\u003Cdiv style=\"text-align: left;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"font-size: 12pt;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"color: #000000;\"> \u003C/span>\u003C/span>\u003C/span>\u003C/span>\u003C/div>\r\n\u003Cdiv style=\"text-align: left;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"font-size: 12pt;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"color: #000000;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/IOI%20hands%20over%20building%20materials%20as%20an%20assistance%20to%20the%20villagers%20from%20Long%20Teran%20Batu%20to%20repair%20their%20longhouse%20before%20Gawai%20Celebration%202018.jpg\" alt=\"\" />\u003Cbr />\u003C/span>\u003C/span>\u003C/span>\u003C/span>\u003C/div>\r\n\u003Cdiv style=\"text-align: left;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"font-size: 12pt;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cem>\u003Cspan style=\"color: #000000;\">IOI Pelita hands over building materials to the villagers from Long Teran Batu to assist in repairing their longhouse before Gawai Celebration 2018. \u003C/span>\u003C/em>\u003C/span>\u003C/span>\u003C/span>\u003C/div>\r\n\u003Cdiv style=\"text-align: left;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"font-size: 12pt;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cem>\u003Cspan style=\"color: #000000;\"> \u003C/span>\u003C/em>\u003C/span>\u003C/span>\u003C/span>\u003C/div>\r\n\u003Cdiv style=\"text-align: left;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"font-size: 12pt;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cem>\u003Cspan style=\"color: #000000;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Engagement%20with%20communities%20from%20Long%20Tabing%20Berawan(1).JPG\" alt=\"\" style=\"width: 1008px; height: 756px;\" />\u003Cbr />\u003C/span>\u003C/em>\u003C/span>\u003C/span>\u003C/span>\u003C/div>\r\n\u003Cdiv style=\"text-align: left;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"font-size: 12pt;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cem>\u003Cspan style=\"color: #000000;\">Engagement with the Long Tabing Berawan community.\u003Cbr />\u003C/span>\u003C/em>\u003C/span>\u003C/span>\u003C/span>\u003C/div>\r\n\u003Cdiv style=\"text-align: left;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"font-size: 12pt;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cem>\u003Cspan style=\"color: #000000;\"> \u003C/span>\u003C/em>\u003C/span>\u003C/span>\u003C/span>\u003C/div>\r\n\u003Cdiv style=\"text-align: left;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"font-size: 12pt;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cem>\u003Cspan style=\"color: #000000;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Engagement%20with%20comunities%20from%20Long%20Tabing%20Iban.JPG\" alt=\"\" style=\"width: 1008px; height: 756px;\" />\u003Cbr />\u003C/span>\u003C/em>\u003C/span>\u003C/span>\u003C/span>\u003C/div>\r\n\u003Cdiv style=\"text-align: left;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"font-size: 12pt;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cem>\u003Cspan style=\"color: #000000;\">Engagement with the Long Tabing Iban community.\u003C/span>\u003C/em>\u003C/span>\u003C/span>\u003C/span>\u003C/div>\r\n\u003Cdiv style=\"text-align: center;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"font-size: 12pt;\">\u003Cspan style=\"font-size: 10pt;\">\u003Cspan style=\"color: #000000;\">\u003Cbr />--- END ---\u003C/span>\u003C/span>\u003C/span>\u003C/span>\u003C/div>",{"id":1821,"name":1822},[2547],{"id":922,"name":1822},{"name":2549,"file_name":2549,"url":2550},"ioi_hands_over_building_materials_as_an_assistance_to_the_villagers_from_long_teran_batu_to_repair_their_longhouse_before_gawai_celebration_2018.jpg","https://www.ioigroup.com/storage/607/ioi_hands_over_building_materials_as_an_assistance_to_the_villagers_from_long_teran_batu_to_repair_their_longhouse_before_gawai_celebration_2018.jpg",[],{"meta_title":2542,"meta_description":2553,"meta_keywords":28},"  IOI Corporation Berhad (IOI) has been working closely with its stakeholders concerning the IOI Pelita case, including Grassroots (the complainant) a...",{"id":2555,"title":2556,"date":2557,"body":2558,"source":2559,"type":2562,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2485,"created_at":2485,"content_type":24,"related_news":2564,"metatag":2565},788,"ASEAN can Show the Way for Europe on Trade","2018-05-24T00:00:00.000000Z","\u003Cstrong>From Kuala Lumpur, the global trading system currently resembles a high-stakes poker game played by giants – China, the US \u003C/strong>\u003Cstrong>and\u003C/strong>\u003Cstrong> the EU. ASEAN as a region feels almost like an outlier, writes Dato’ Lee Yeow Chor.\u003C/strong> \u003Cbr />\r\n\u003Cbr />\u003Cem>Dato’ Lee Yeow Chor is Chairman of the Malaysian Palm Oil Council (MPOC).\u003C/em> \u003Cbr />\r\n\u003Cbr />Perhaps it was inevitable that electing a businessman as the world’s most-powerful leader would lead to business and trade news moving away from the inside pages, and onto the front pages. That comfort of hindsight does not, however, help one to navigate the current trade & investment climate. \u003Cbr />\r\n\u003Cbr />From Kuala Lumpur, the global trading system currently resembles a high-stakes poker game played by giants: China’s Belt and Road initiative bestrides two continents; President Trump announces new tariffs, barriers and deals almost daily; and the European Union, beset by domestic populism, hedges its bets with anti-dumping duties aimed at China, WTO threats against the US tariffs, and continued agricultural barriers to keep out lower-cost commodities from the developing world. \u003Cbr />\r\n\u003Cbr />ASEAN as a region feels almost like an outlier: one of few regions globally that continues to actively pursue both regional integration and global trade deals. The Regional Comprehensive Economic Partnership (RCEP) is a significant undertaking for which ASEAN governments will be rightly praised. Internal supply-chain integration, and reduction of behind-the-border barriers to trade continue to make progress; and the business and investment climate is good as a result. For pro-trade advocates in the West, ASEAN’s proactivity is perhaps reminiscent of halcyon days gone by. \u003Cbr />\r\n\u003Cbr />Nostalgia, though, will not get us anywhere: ASEAN’s business and political leaders now must deal with the world as it is. The region’s global businesses boast sophisticated supply-chains, such as the integrated commodities firms that deliver palm oil from Malaysia to markets around the world. To these businesses, the global trade headwinds can feel like forces outside of their control. It may be surprising for some in Brussels to learn that for many ASEAN businesses, the European Union’s non-tariff measures and complex politics are the immediate cause for concern – even more so than President Trump’s tariffs. \u003Cbr />\r\n\u003Cbr />Two ASEAN bilateral trade agreements with the European Union – involving Singapore and Vietnam – remain unimplemented despite the conclusion of negotiations. A wider regional agreement seems to be stuck on hold, and the EU’s negotiations with Indonesia and Malaysia have made little progress. The reason for this is in no small part due to the EU’s proposed trade barriers aimed at palm oil – a critical commodity for Malaysia, Indonesia and Thailand among others. \u003Cbr />\r\n\u003Cbr />The EU Parliament’s recent attempt to exclude palm oil-based biofuels from the EU’s Renewable Energy Directive (RED) represents the biggest current trade threat to the ASEAN region. Palm oil products are top-3 exports for both Malaysia and Indonesia. Over 2 million small farmers across the ASEAN region earn their livelihoods from oil palm cultivation, and the wider supply chain employs millions more. \u003Cbr />\r\n\u003Cbr />The proposed exclusion targeting only palm oil but not the domestic vegetable oils has, naturally, sparked a furious reaction across ASEAN nations. The three countries primarily affected have announced counter measures against EU products should the palm oil ban be enforced, Indonesia has put on hold all trade talks, and defense and aerospace contracts with EU companies have been cast into questions. \u003Cbr />\r\n\u003Cbr />It is sadly illustrative of the paucity of support for global trade today that few in Europe are prepared to defend the EU-ASEAN trade relationship. As palm oil travels to the West (along with rubber, electronics, foodstuffs, and others), European consumer goods, aeroplanes, cars and professional services flow back into ASEAN, supporting Europe’s export-dependent economies. \u003Cbr />\r\n\u003Cbr />Malaysia, Singapore and Thailand in particular have significant FDI outflow to the EU economy: the Battersea Power Station redevelopment in London, financed by Malaysian investment, is currently one of Europe’s largest construction projects. \u003Cbr />\r\n\u003Cbr />This all serves to illustrate that the mutual benefits of EU-ASEAN trade should not be sacrificed to the causes of specific domestic interest groups: the greater good is served by continued trade and bilateral investment, not politically-motivated blockades. \u003Cbr />\r\n\u003Cbr />Trade and exports, though, are not the only concern of ASEAN decision-makers in the current global climate. Politically, there is a growing trend on the part of US and EU governments to impose restrictions on foreign nationals to travel, study and work in their countries, based on the electorally popular platforms of protecting jobs and income level for the domestic population. The potential changes to immigration or visa rules from a post-Brexit UK, for example, are a significant worry for people from ASEAN who have strong historical links with that country. \u003Cbr />\r\n\u003Cbr />Is there a silver-lining to be found? Perhaps it is in the fact that ASEAN as a region is drawing closer together, including presenting a common defense against external threats – the Council of Palm Oil Producing Countries (CPOPC) is a good example. Perhaps also that ASEAN can emerge as a region illustrating the benefits of placing continued bilateral and multilateral trade ahead of protectionist domestic politics. \u003Cbr />\r\n\u003Cbr />For those of us in the region with supply chains that stretch across the world, we can only hope that others in the West will take note, and that together we can carve a way towards a future that is more positive and proactive about trade and global connectivities.",{"id":2560,"name":2561},84,"EURACTIV",[2563],{"id":14,"name":15},[],{"meta_title":2556,"meta_description":2566,"meta_keywords":28},"From Kuala Lumpur, the global trading system currently resembles a high-stakes poker game played by giants – China, the US and the EU. ASEAN as a regi...",{"id":2568,"title":2569,"date":2570,"body":2571,"source":2572,"type":2573,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2536,"created_at":2536,"content_type":24,"related_news":2575,"metatag":2576},762,"IOI Profit Jumps to RM2.07bil Boosted by Loders Divestment","2018-05-17T00:00:00.000000Z","\u003Cdiv>\u003Cspan style=\"color: #000000;\">\u003Cbr />\u003C/span>\u003C/div>\u003Cspan style=\"color: #000000;\">KUALA LUMPUR: IOI Corp Bhd ’s net profit for the third quarter ended March 31, 2018 rose to RM2.07bil from the RM305.4mil recorded in the previous corresponding quarter. \u003Cbr />\r\n\u003Cbr />Revenue for the period, however, declined to RM2.31bil from RM2.34bil. \u003Cbr />\r\n\u003Cbr />In a filing with Bursa Malaysia yesterday, the group said the better results were mainly due to higher contribution from the resource-based manufacturing segment and higher net foreign currency translation gain on foreign currency denominated borrowings of RM201.9mil versus RM91.2mil in the same quarter last year. \u003Cbr />\r\n\u003Cbr />“We also saw a profit of RM1.72bil from discontinued operations including a RM1.66bil from the divestment of 70% equity interest in resource-based manufacturer Loders Croklaan Group BV,” it said. \u003Cbr />\r\n\u003Cbr />“With the group’s continuing trend of higher oil palm fruit production, the performance of its plantation segment is expected to be satisfactory in the fourth quarter of financial year 2018,” it added. — Bernama \u003Cbr />\u003Cbr />\u003C/span>\u003Cbr />",{"id":10,"name":11},[2574],{"id":14,"name":15},[],{"meta_title":2569,"meta_description":2577,"meta_keywords":28},"KUALA LUMPUR: IOI Corp Bhd ’s net profit for the third quarter ended March 31, 2018 rose to RM2.07bil from the RM305.4mil recorded in the previous cor...",{"id":2579,"title":2580,"date":2581,"body":2582,"source":2583,"type":2584,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2586,"created_at":2586,"content_type":24,"related_news":2587,"metatag":2588},761,"IOI Corp 3Q Net Profit Surges 6.7 Times on Forex, Loders Disposal Gains","2018-05-16T00:00:00.000000Z","\u003Cdiv>\u003Cbr />\u003C/div>KUALA LUMPUR (May 16): IOI Corp Bhd's net profit surged 6.7 times to RM2.07 billion in the third financial quarter ended March 31, 2018 (3QFY18) from RM305.3 million a year ago, due mainly to foreign exchange (forex) gain of RM201.9 million and higher contribution from the resource-based manufacturing segment. \u003Cbr />\r\n\u003Cbr />In a filing with Bursa Malaysia today, IOI said for 3QFY18, the group also reported a profit from the discontinued operations of RM1.72 billion compared with a loss of RM15.5 million in 3QFY17. The discontinued operations comprise the resource-based manufacturing businesses of Loders Croklaan Group BV where a gain of RM1.66 billion that arose from the divestment of a 70% stake in Loders in 3QFY18 was reported. \u003Cbr />\r\n\u003Cbr />"Excluding the extraordinary gain, the group reported a lower profit from the discontinued operations of RM55.3 million for 3QFY18 due mainly to the higher margins achieved," it added. \u003Cbr />\r\n\u003Cbr />The improved earnings resulted in its earnings per share rising to 32.92 sen in 3QFY18 from 4.86 sen in 3QFY18. This was despite quarterly revenue falling by a marginal 1.1% to RM2.31 billion from RM2.34 billion a year ago. \u003Cbr />\r\n\u003Cbr />The strong quarterly results pushed the group's net profit for the cumulative nine months ended March 31, 2018 (9MFY18) to RM3.02 billion, up 7.1 times from RM425.7 million a year ago. Revenue, however, fell 3.6% to RM6.92 billion from RM7.17 billion. \u003Cbr />\r\n\u003Cbr />IOI said the outlook for palm oil price is mixed, with the unfavourable factor of seasonal production increase being offset by China imposing a tariff on soybean imports from the US and the current strengthening of the US dollar. \u003Cbr />\r\n\u003Cbr />"With the group's continuing trend of higher oil palm fruits production, the performance of its plantation segment is expected to be satisfactory in 4QFY18," it added. \u003Cbr />\r\n\u003Cbr />IOI noted that the low to negative refining margins, however, continue to present challenges to its Malaysian refineries' financial performance. \u003Cbr />\r\n\u003Cbr />Nevertheless, it expects its downstream manufacturing business, spearheaded by the oleochemical subsegment, to continue to perform well. \u003Cbr />\r\n\u003Cbr />"Our 30%-owned associate Bunge Loders Croklaan is also expected to perform well with the good demand for its core products and the realisation of synergies with the larger Bunge Group. \u003Cbr />\r\n\u003Cbr />"With the repayment of a substantial amount of its US dollar-denominated borrowings using the sale proceeds from the sale of shares in Loders Croklaan, the group's financial position has become much stronger. The retention of the balance of the Loders Croklaan share sale proceeds in US dollar will provide the group a natural hedge against the balance of its US dollar-denominated borrowings," it said. \u003Cbr />\r\n\u003Cbr />"Overall, the group is expected to perform satisfactorily during the next quarter," said IOI. \u003Cbr />\r\n\u003Cbr />IOI shares closed unchanged at RM4.75 today, with 3.29 million shares traded, bringing a market capitalisation of RM29.85 billion. ",{"id":109,"name":110},[2585],{"id":14,"name":15},"2025-05-02T09:52:56.000000Z",[],{"meta_title":2580,"meta_description":2589,"meta_keywords":28},"KUALA LUMPUR (May 16): IOI Corp Bhd's net profit surged 6.7 times to RM2.07 billion in the third financial quarter ended March 31, 2018 (3QFY18) from...",{"id":2591,"title":2592,"date":2593,"body":2594,"source":2595,"type":2596,"image":2598,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2601,"created_at":2485,"content_type":24,"related_news":2602,"metatag":2603},787,"Palm Voices: Time to Seize the Opportunity","2018-04-13T00:00:00.000000Z","\u003Cp>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/DLYC(1).jpg\" alt=\"\">\u003C/p>\u003Cp>Much of the media debate surrounding palm oil in recent months has focused on the EU Parliament’s proposed ban on palm oil biofuels, as part of the Renewable Energy Directive (RED). \u003Cbr>\u003Cbr>This focus is understandable – RED represents an imminent threat, that must be opposed forcefully and Malaysia is leading the opposition to the proposed ban. \u003Cbr>\u003Cbr>The most recent negotiations in Brussels took place at the end of March as part of the ongoing EU Trilogue – palm oil was not discussed at length. \u003Cbr>\u003Cbr>However, the palm oil ban will be in focus when the negotiators next meet, currently scheduled for April 26. \u003Cbr>\u003Cbr>These coming few months are crucial for Malaysia’s palm bio­diesel exports to Europe. \u003Cbr>\u003Cbr>This article, however, is not about RED. Even in the midst of such a critical period, Malaysia has a responsibility to keep its focus on the wider picture of the palm oil debate not just in Europe, but globally. Our approach must be strategic, and long-term. \u003Cbr>\u003Cbr>We cannot only focus on what is today’s threat, in order to wear the mantle of thought-leadership, we need to look further ahead to what may be the challenges in future. \u003Cbr>\u003Cbr>Why? \u003Cbr>\u003Cbr>The better we can think and understand our future challenges, the better chance we have to mitigate and defeat those challenges. \u003Cbr>\u003Cbr>This does not only mean thought-leadership in relation to challenges. There are many of those coming over the horizon – from the EU’s new approach to addressing deforestation, to the debate over mutual recognition of certification schemes, and many more. \u003Cbr>\u003Cbr>We must also be brave and set forth a positive, proactive strategic direction for the future, based on positive messages about Malaysia and its overall conduct of the palm oil industry. A starting point should be an ambition to position Malaysia as a global leader in agriculture – in technology, innovation, and development throughout the palm oil supply chain. \u003Cbr>\u003Cbr>Several existing and ongoing examples spring to mind. \u003Cbr>\u003Cbr>Mapping the oil palm genome is a giant leap – it is beneficial in and of itself, in that it enhances scientific understanding. \u003Cbr>\u003Cbr>More importantly, it will have practical consequences benefiting the environment, rural development, and economic growth. \u003Cbr>\u003Cbr>We must think of this achievement not in academic terms, but in how we position Malaysia as a global leader in agriculture, particularly oil palm. The use of methane capture technology is another major step forward. \u003Cbr>\u003Cbr>Ninety-two methane capture facilities have already been completed; over 150 more are in the planning or construction stage. \u003Cbr>\u003Cbr>The Malaysian Government and industry are working on this together. \u003Cbr>\u003Cbr>This approach will at once reduce carbon emissions, improve profitability through the alternative use of biogas, and help ensure future market access for Malaysian Palm Oil, as Greenhouse Gas emission standards around the world become stricter. If this sounds too good to be true, it isn’t. It is simply the fruit of technological innovation, government support, and industry pro-activeness. \u003Cbr>\u003Cbr>The focus on yield enhancement through advanced breeding and tissue culture propagation (as opposed to landbank expansion) is a world-leading effort from Malaysia to prove that sustainability and economic development do not have to be in opposition, rather, they are bedfellows. \u003Cbr>\u003Cbr>The seeds for this success have already been sown. At every opportunity we must remind the world, and especially our critics in Europe, of this far-sighted approach. \u003Cbr>\u003Cbr>Similarly, the development of Malaysian Sustainable Palm Oil (MSPO) Certification Scheme is far more significant at a global level than perhaps many in the industry or, in Malaysia, appreciate. \u003Cbr>\u003Cbr>MSPO is not merely a new, or locally-driven, standard. \u003Cbr>\u003Cbr>It is at the forefront of driving forth an approach to palm oil sustainability based not on whimsical or arbitrary criteria conceived in the backroom of an NGO headquarters, but on internationally-recognised standard-setting methods such as those used by the International Standards Organisation and United Nations Development Programme. \u003Cbr>\u003Cbr>Now we must accelerate communicating our vision, to the world. \u003Cbr>\u003Cbr>We must understand that communicating in Europe, and other Western markets, is different – they do not have the same intimate knowledge about palm oil as Malaysians. \u003Cbr>\u003Cbr>And there are already some ingrained prejudice or misguided idealism planted in the minds of these western world consumers. \u003Cbr>\u003Cbr>So, we must be more direct, using simpler, clearer messages that frame Malaysia in a positive way. Academic messages don’t resonate – they are not sharp or simple enough for the public and media discourse. \u003Cbr>\u003Cbr>We are talking about the sweet spot for a successful palm oil strategy internationally; long-term thinking, positive messages and simple communication. \u003Cbr>\u003Cbr>An additional factor can be added as well, re-assessing our audiences. We have been very successful with trade audiences, moving conversations away from negative Green NGO talking points onto issues of trade and economics. \u003Cbr>\u003Cbr>France, Spain, and other EU governments support Malaysia in the European RED debate, precisely because of this strategy. \u003Cbr>\u003Cbr>A critical part of our strategic thinking is how to expand this success to reach other sympathetic audiences in European capital cities – the pro-development and community advancement groups, for example. Another opportunity is the pro-innovation and investment audiences in Europe, who are interested in agricultural progress and innovation. \u003Cbr>\u003Cbr>We must be realistic that some – if not most – of the environmental/sustainability community will not defend palm oil,therefore, let us spend our time and money more wisely. That means working with our current friends, and finding new friends to outnumber our critics. We must raise our eyes to the horizon and aspire to lead the agenda of debate, globally. \u003Cbr>\u003Cbr> \u003C/p>",{"id":10,"name":11},[2597],{"id":14,"name":15},{"name":2599,"file_name":2599,"url":2600},"dlyc1.jpg","https://www.ioigroup.com/storage/621/dlyc1.jpg","2025-05-04T08:08:08.000000Z",[],{"meta_title":2592,"meta_description":2604,"meta_keywords":28},"Much of the media debate surrounding palm oil in recent months has focused on the EU Parliament’s proposed ban on palm oil biofuels, as part of the Re...",{"id":2606,"title":2607,"date":2608,"body":2609,"source":2610,"type":2611,"image":2613,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2586,"created_at":2586,"content_type":24,"related_news":2616,"metatag":2617},760,"Smiles and Laughter at Charity Screening of  Lee Chong Wei: Rise Of The Legend","2018-03-23T00:00:00.000000Z","\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cdiv>In conjunction with the school holidays, IOI Group’s foundation, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), hosted a charity screening of the movie ‘Lee Chong Wei: Rise Of The Legend’ which brightened the day of 57 underprivileged children and teenagers, between the age nine to 19; coming from both Padmasambhava Children Loving Association and Pertubuhan Kebajikan Yesuvin Mahligai Selangor. \u003C/div>\u003Cdiv>\u003Cbr />The day started with the children and caretakers arriving at Palm Garden Hotel (PGH) by bus, where they were treated to a sumptuous Thai meal for lunch at Aroi Dee Thai Restaurant, PGH. Prior to lunch, a short ice-breaking game was carried out to have children from both charity homes mingle with one another as a way for them to make new friends. \u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/20180323_113159.jpg\" alt=\"\" style=\"width: 600px;\" />\u003Cbr />\u003Cem>A short ice-breaking session to kick-start the day!\u003C/em>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/20180323_115641(0).jpg\" alt=\"\" style=\"width: 600px;\" />\u003Cdiv>\u003Cem>Smile for the camera!\u003Cbr />\u003C/em>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>By 1.00 pm, the whole entourage made the move to IOI City Mall where the charity screening was held at the Golden Screen Cinemas. Everyone was looking forward to the movie as it represented Malaysia’s pride and joy. The children were also treated to a set of popcorn and drinks to make their movie outing a sweeter one to remember. \u003C/div>\u003Cdiv> \r\n\u003Cbr />\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/20180323_134327(0).jpg\" alt=\"\" style=\"background-color: #ffffff; text-decoration-style: initial; text-decoration-color: initial; width: 600px;\" />\u003Cbr />\u003C/div>\u003Cdiv>\u003Cem style=\"background-color: #ffffff; text-decoration-style: initial; text-decoration-color: initial;\">The queue before the movie, feeling excited to catch our national #1 \u003C/em>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>“We are delighted to bring much smiles and laughter to the underprivileged children and hope that the movie will inspire them to carry the aspiration to excel in life,” said IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) Executive Director Datin Joanne Wong. \u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/20180323_133737(1)(1).jpg\" alt=\"\" style=\"background-color: #ffffff; text-decoration-style: initial; text-decoration-color: initial; width: 1000px; height: 485px;\" />\u003Cbr />\u003C/div>\u003Cdiv>\u003Cem style=\"text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;\">And it’s a wrap! A big thank you to IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) and all IOI volunteers for making this outing a success.\u003C/em>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cdiv>Special Movie Screenings are a part of IOI Group’s Corporate Social Responsibility programme, in line with the foundation’s objectives in the betterment of society and community enrichment. \u003C/div>\u003Cdiv>  \r\n\u003Cbr />Another community effort of IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) is the opening of Bargain Basement, an innovative social enterprise, that encourages the public to donate pre-loved or unused items to help the community. This initiative enables the community to access quality items at a low price. All net proceeds are channeled to different charities biannually. \u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003C/div>\u003C/div>\u003C/div>",{"id":1002,"name":1003},[2612],{"id":241,"name":564},{"name":2614,"file_name":2614,"url":2615},"20180323_113159.jpg","https://www.ioigroup.com/storage/606/20180323_113159.jpg",[],{"meta_title":2607,"meta_description":2618,"meta_keywords":28},"In conjunction with the school holidays, IOI Group’s foundation, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), hosted a charity s...",{"id":2620,"title":2621,"date":2622,"body":2623,"source":2624,"type":2625,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2586,"created_at":2586,"content_type":24,"related_news":2627,"metatag":2628},758,"IOI Corp completes disposal of Loders Croklaan stake for RM3.79b","2018-03-02T00:00:00.000000Z","\u003Cbr />\u003Cspan style=\"color: #000000;\">KUALA LUMPUR: IOI Corp Bhd has completed the disposal of its 70% stake in Loders Croklaan Group BV and its related businesses to US-listed Bunge Ltd for RM3.79 billion cash. \u003Cbr />\r\n\u003Cbr />On Sept 12, 2017, IOI entered into a definitive share purchase agreement (SPA) with Koninklijke Bunge BV, a wholly-owned subsidiary of Bunge, for the proposed stake sale for US$946 million (RM3.71 billion), comprising €297 million (RM1.42 billion) and US$595 million, subject to adjustments that could be made for items such as foreign exchange effects. \u003Cbr />\r\n\u003Cbr />In a filing with Bursa Malaysia yesterday, IOI said all the conditions precedent as set out in the SPA have been satisfied or waived in accordance with the terms of the SPA. Accordingly, the SPA has been rendered unconditional. \u003Cbr />\r\n\u003Cbr />IOI has paid the preliminary disposal consideration amounting to US$595 million plus €303.37 million (totalling RM3.79 billion) in accordance with the terms of the SPA. \u003Cbr />\r\n\u003Cbr />Following the completion of the transaction, IOI will continue to hold a 30% stake in Loders. As part of the transaction, for a period of five years, Bunge will have the right to purchase the remaining interest in Loders from IOI, and IOI will have the right to sell its interest to Bunge.\u003C/span>",{"id":109,"name":110},[2626],{"id":14,"name":15},[],{"meta_title":2621,"meta_description":2629,"meta_keywords":28},"KUALA LUMPUR: IOI Corp Bhd has completed the disposal of its 70% stake in Loders Croklaan Group BV and its related businesses to US-listed Bunge Ltd f...",{"id":2631,"title":2632,"date":2622,"body":2633,"source":2634,"type":2635,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2586,"created_at":2586,"content_type":24,"related_news":2637,"metatag":2638},759,"IOI Corp completed 70% stake sale in Loders to Bunge","\u003Cbr />\u003Cspan style=\"color: #000000;\">KUALA LUMPUR: IOI Corp Bhd has completed its 70 per cent stake sale in Loders Croklaan Group BV and its related businesses to US-listed Bunge Ltd for RM3.79 billion. \u003Cbr />\r\n\u003Cbr />IOI had on September 12 last year signed a definitive share purchase agreement (SPA) with Koninklijke Bunge BV, a wholly-owned subsidiary of Bunge, for the 70 per cent stake sale for US$946 million. It comprised €297 million and US$595 million, subject to foreign exchange fluctuation. \u003Cbr />\r\n\u003Cbr />In a filing with Bursa Malaysia yesterday, IOI said all the conditions precedent as set out in the SPA had been satisfied or waived in accordance with the terms of the SPA. \u003Cbr />\r\n\u003Cbr />IOI had paid the initial sum of US$595 million plus €303.37 million (totalling RM3.79 billion) in accordance with the terms of the SPA. \u003Cbr />\r\n\u003Cbr />IOI will continue to hold a 30 per cent stake in Loders. \u003Cbr />\r\n\u003Cbr />As part of the transaction, for five years, Bunge will have the right to purchase the remaining interest in Loders from IOI, and IOI will have the right to sell its interest to Bunge. \u003Cbr />\r\n\u003Cbr />"The company will release the relevant announcements in relation to the final disposal consideration and the adjustments made to the preliminary disposal consideration, as and when it is determined," said IOI. \u003Cbr />\r\n\u003Cbr />In 2002, IOI had acquired the entire business of Loders from Unilever Plc and Unilever NV for RM814 million. \u003Cbr />\r\n\u003Cbr />In a separate statement, Bunge said Loders will provide a comprehensive customer offering, from core products to specialties, for business-to-business customers in the food processing, industrial and artisanal bakery, confectionery, human nutrition and food service segments. \u003Cbr />\r\n\u003Cbr />"We expect Loders to generate US$105 million of full-year earnings before interest, taxes, depreciation and amortisation in 2018, plus US$15 million in synergies. \u003Cbr />\r\n\u003Cbr />"We also expect the transaction to be accretive to earnings on a cash basis this year. The enterprise will operate within Bunge's food and ingredients business as 'Bunge Loders Croklaan'," Bunge added.\u003C/span>",{"id":53,"name":54},[2636],{"id":14,"name":15},[],{"meta_title":2632,"meta_description":2639,"meta_keywords":28},"KUALA LUMPUR: IOI Corp Bhd has completed its 70 per cent stake sale in Loders Croklaan Group BV and its related businesses to US-listed Bunge Ltd for...",{"id":2641,"title":2642,"date":2643,"body":2644,"source":2645,"type":2646,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2648,"created_at":2648,"content_type":24,"related_news":2649,"metatag":2650},757,"IOI Corp Q2 earnings surge to RM595.9m","2018-02-23T00:00:00.000000Z","\u003Cdiv>\u003Cem>IOI Corp explained the higher PBT was due mainly to the net foreign currency translation gain.\u003C/em>\u003C/div>\r\n\u003Cdiv>\u003C/div>\r\n\u003Cdiv>IOI Corporation Bhd saw its earnings surge to RM595.90mil in the second quarter ended Dec 31, 2017 from the RM15.60mil a year ago, boosted by foreign currency translation gain. \u003Cbr />\u003Cbr />The plantation heavyweight said on Friday its profit before taxation (PBT) surged over 1,000% to RM622.9mil from RM52.5mil a year ago. \u003Cbr />\u003Cbr />IOI Corp explained the higher PBT was due mainly to net foreign currency translation gain on foreign currency denominated borrowings of RM196.4mil compared with a loss of RM330mil a year ago. \u003Cbr />\u003Cbr />There was also a fair value gain on derivative financial instruments from the resource-based manufacturing segment of RM66.1mil compared with a loss of RM46.5mil. \u003Cbr />\u003Cbr />Excluding these two factors, the underlying PBT of RM360.4mil for Q2 FY2018 was down 16% than the RM429mil a year ago. \u003Cbr />\u003Cbr />“The lower underlying PBT is due mainly to lower contribution from all the segments,” it said. \u003Cbr />\u003Cbr />Its revenue fell 4% to RM2.39bil from RM2.50bil. Earnings per share were 9.48 sen compared with 0.25 sen. It declared an interim dividend of 4.5 sen, similar to a year ago. \u003Cbr />\u003Cbr />\u003Cstrong>Plantation \u003C/strong>\u003Cbr />\u003Cbr />IOI Corp said the plantation profit for Q2 FY2018 fell 5% to RM340.9mil due mainly to lower crude palm oil (CPO) and palm kernel (PK) prices realised despite higher fresh fruit bunches (FFB) production. \u003Cbr />\u003Cbr />Average CPO and PK prices realised for Q2 FY2018 were RM2,644 a tonne (Q2 FY2017 – RM2,768) and RM2,621 (Q2 FY2017 – RM2,882) respectively. \u003Cbr />\u003Cbr />\u003Cstrong>Resource-based manufacturing \u003C/strong> \u003Cbr />\u003Cbr />As for the resource-based manufacturing segment, its profit rose to RM128.3mil from RM71.9mil a year ago. \u003Cbr />\u003Cbr />Excluding the fair value gain/loss on derivative financial instruments, the underlying profit was 47% lower at RM62.2mil. This is mainly due to loss reported from the merchandising activities, mitigated by better performance from the oleochemical sub-segment. \u003Cbr />\u003Cbr />\u003Cstrong>Discontinued operations (resource-based manufacturing) \u003C/strong> \u003Cbr />\u003Cbr />It reported lower profit from the discontinued operations of RM77.5mil compared with RM62.9mil a year ago. The discontinued operations comprise of the resource-based manufacturing businesses pending the divestment of 70% equity interest in Loders Croklaan Group B.V.. The higher profit for Q2 FY2018 was due mainly to the higher sales volume achieved.\u003C/div>\r\n\u003Cdiv>\u003C/div>\r\n\u003Cdiv>\u003Cstrong>First Half\u003C/strong>\u003C/div>\r\n\u003Cdiv>\u003C/div>\r\n\u003Cdiv>For the first half, its earnings jumped nearly 600% to RM965.90mil from RM120.40mil in the previous corresponding period. Its revenue slipped 5% to RM4.60bil from RM4.83bil. \u003Cbr />\u003Cbr />It recorded net foreign curency translation gain of RM265mil compared with loss of RM502mil a year ago. \u003Cbr />\u003Cbr />\u003Cbr />\u003Cbr />\u003Cbr />\u003C/div>",{"id":10,"name":11},[2647],{"id":14,"name":15},"2025-05-02T09:52:55.000000Z",[],{"meta_title":2642,"meta_description":2651,"meta_keywords":28},"IOI Corp explained the higher PBT was due mainly to the net foreign currency translation gain. IOI Corporation Bhd saw its earnings surge to RM595.90m...",{"id":2653,"title":2654,"date":2655,"body":2656,"source":2657,"type":2660,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2648,"created_at":2648,"content_type":24,"related_news":2662,"metatag":2663},756,"IOI, Kerry Support Palm Oil Smallholders","2018-02-19T00:00:00.000000Z","\u003Cp>\u003Cbr />\u003Cstrong>Ingredients suppliers IOI Loders Croklaan and Kerry Group have partnered with Wild Asia and the Fortuna Palm Oil Mill in Sabah to implement a three-year small growers support program\u003Cbr />\u003C/strong>\u003Cbr />The scheme aims to support the inclusion of smallholders into the supply chain, boost productivity and encourage the implementation of sustainable agricultural practices.\u003Cbr />\u003Cbr />Not-for-profit social enterprise Wild Asia is the implementation partner for the program that will be managed by both Kerry Group and IOI Loders Croklaan.\u003Cbr />\u003Cbr />“\u003Cem>We have a few potential participating \u003C/em>\u003Cem>non\u003C/em>\u003Cem>-RSPO certified mills in the Telupid, Beluran and Kinabatangan landscape (Sabah) with approximately 5000 smallholders and small growers. We start with one mill – Fortuna – and will increase the number throughout the duration of the program\u003C/em>,” said Ben Vreeburg, Sustainability Director at IOI Loders Croklaan\u003Cbr />\u003Cbr />“\u003Cem>Smallholders will see a decrease in FFB (Fresh Fruit Bunch) production costs in the rest of the year and a gradual increase in FFB yield in the second year. Through this program, millers are ensured of a steady supply and better control of FFB and a higher extraction rate\u003C/em>."\u003Cbr />\u003Cbr />The program is designed to help Kerry work more collaboratively with its suppliers, Maarten Butselaar, responsible sourcing manager at Kerry Group, added.\u003Cbr />. \u003Cbr />“\u003Cem>As a buyer of palm oil we have limited interaction with mills or palm growers, so we rely on our supply partners to help meet our sourcing commitments. This partnership gives us a more direct influence practice at mill and farm level in the project area. Alongside our broader requirements on palm oil, the program aims to deliver a positive impact on communities and workers within our supply chain.\u003C/em>”\u003Cbr />\u003Cbr />\u003Cstrong>Smallholder focus\u003Cbr />\u003Cbr />\u003C/strong>As large food corporations work to support more sustainable practices in their palm oil supply, the focus has increasingly shifted to the contribution of smallholders. \u003Cbr />\u003Cbr />Around 40% of the total worldwide palm oil production is currently met by smallholders.\u003Cbr />\u003Cbr />“\u003Cem>If you look at the palm oil yield, there are still large variances between the yield of smallholders and big plantation companies,” noted Vreeburg. “You could increase FFB production up to 50% without any new developments if you increase the current yield of smallholders. Helping smallholders to get good sustainable manufacturing practices in place will increase their productivity and further lift them out of poverty.\u003C/em>”\u003Cbr />\u003Cbr />The Roundtable on Sustainable Palm Oil (RSPO), the certification body for sustainable palm oil, has also increased its efforts to promote the interest of smallholder palm oil producers. The RSPO, in collaboration with the UN, recently launched a fund to support small-scale palm oil farmers in Sabah.\u003C/p>",{"id":2658,"name":2659},61,"www.foodnavigator.com",[2661],{"id":14,"name":15},[],{"meta_title":2654,"meta_description":2664,"meta_keywords":28},"Ingredients suppliers IOI Loders Croklaan and Kerry Group have partnered with Wild Asia and the Fortuna Palm Oil Mill in Sabah to implement a three-ye...",{"id":2666,"title":2667,"date":2668,"body":2669,"source":2670,"type":2671,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2648,"created_at":2648,"content_type":24,"related_news":2673,"metatag":2674},755,"IOI Corp to sell Hong Kong unit to Loders for US$72.7m","2018-01-25T00:00:00.000000Z","\u003Cspan style=\"color: #000000;\">\u003Cbr />KUALA LUMPUR (Jan 25): IOI Corp Bhd is selling its entire stake in IOI Edible Oils (HK) Ltd (IEO HK) to Loders Croklaan Group BV for US$72.7 million, as part of a previously announced transaction to sell a 70% stake in its wholly-owned specialty oils and fats manufacturing arm to US-based Bunge Ltd. \u003Cbr />\r\n\u003Cbr />In September last year, IOI had announced that it was disposing of its 70% equity interest in Loders to Bunge for about RM4 billion cash. \u003Cbr />\r\n\u003Cbr />IOI said IEO HK is included as part of the proposed disposal in view that IEO HK, which owns a specialty oils and fats plant being built in Xiamen, China, is involved in similar businesses as Loders Group. \u003Cbr />\u003Cbr />In a filing with Bursa Malaysia today, IOI said it has entered into a share acquisition agreement with Loders to transfer its entire 100% stake in IEO HK to Loders, together with all rights and benefits attaching thereto, in exchange for US$72.7 million. \u003Cbr />\r\n\u003Cbr />IOI said the transaction has no impact on the group's consolidated financial position because the gain or loss arising from the internal restructuring will be fully eliminated upon consolidation of the group's financial statements, given that the transaction involves IOI Corp and its wholly-owned subsidiaries. \u003Cbr />\r\n\u003Cbr />Upon the completion of the transfer of IEO HK, Loders will become the direct parent of IEO HK. \u003Cbr />\r\n\u003Cbr />IOI shares closed up one sen or 0.21% at RM4.67 today, for a market capitalisation of RM29.34 billion.\u003C/span>",{"id":109,"name":110},[2672],{"id":14,"name":15},[],{"meta_title":2667,"meta_description":2675,"meta_keywords":28},"KUALA LUMPUR (Jan 25): IOI Corp Bhd is selling its entire stake in IOI Edible Oils (HK) Ltd (IEO HK) to Loders Croklaan Group BV for US$72.7 million,...",{"id":2677,"title":2542,"date":2678,"body":2679,"source":2680,"type":2681,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2648,"created_at":2648,"content_type":24,"related_news":2683,"metatag":2684},754,"2018-01-12T00:00:00.000000Z","\u003Cp>\tFollowing a continuous dialogue with stakeholders concerning the IOI Pelita case, IOI would like to provide the following public update to reaffirm its commitment to resolving the dispute with local communities and to clarify the next steps in the resolution process.\u003Cbr />\u003Cbr />First and foremost, IOI would like to state that:\u003C/p>\u003Cul>\u003Cli>It is committed to the resolution of the IOI Pelita case as a central and inseparable component of the company’s Sustainable Palm Oil Policy (SPOP)\r\n\u003C/li>\u003Cli>It is committed to, and will abide by, the Action Plan as submitted to the RSPO Complaints Panel (CP) at end-November 2017\r\n\u003C/li>\u003Cli>It will contribute the necessary resources and capacity towards the implementation of the Action Plan and act in accordance with its own sustainability policy approach, as an RSPO member and as a committed partner to the communities in question\r\n\u003C/li>\u003Cli>It will not actively seek divestment of the IOI-Pelita Joint Venture until the resolution of the case, as determined by the RSPO CP within an agreed time period, and in consultation with stakeholders\r\n\u003C/li>\u003Cli>In addition, measures to strengthen IOI’s internal governance process will be introduced to ensure that any future decisions likely to impact the implementation of the company’s SPOP are subject to appropriate due diligence.\u003C/li>\u003C/ul>\u003Cp>IOI also met with RSPO Secretariat on 11 January 2018 to receive feedback from the CP on its Action Plan. However, the CP is still not ready with its feedback although some preliminary discussions about the Plan have taken place. IOI will continue the planning for the field implementation in consultation with the relevant stakeholders.\u003Cbr />\u003Cbr />IOI looks forward to continued collaboration with Grassroots and other NGO partners in working towards a fair and just solution for all concerned parties, in line with RSPO’s Principles and Criteria. \u003C/p>",{"id":1821,"name":1822},[2682],{"id":922,"name":1822},[],{"meta_title":2542,"meta_description":2685,"meta_keywords":28},"Following a continuous dialogue with stakeholders concerning the IOI Pelita case, IOI would like to provide the following public update to reaffirm it...",{"id":2687,"title":2688,"date":2689,"body":2690,"source":2691,"type":2692,"image":2694,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2697,"created_at":2697,"content_type":24,"related_news":2698,"metatag":2699},753,"Yuletide charm and magic","2017-12-22T00:00:00.000000Z","\u003Cbr />\u003Cbr />\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/IMG_0275.JPG\" alt=\"\" style=\"width: 1000px; height: 666px;\" />\u003Cbr />\u003Cem>Wong (centre, in yellow) with IOI City Mall personnel and children from Rumah Victory\u003C/em>\u003Cbr />\u003Cbr />IOI CITY MALL invites shoppers and patrons to embark on a magical journey via its Christmas campaign called the “Mythical Land of Wonder”. Be mesmerised as you step into the mall’s main concourse and enter a Christmas wonderland that sparks a sense of adventure, surprise and mystery.\r\n\u003Cbr />Experience the magic and whimsical nature of Christmas while engaging in various performances and activities (some that win you prizes and gifts) like:\r\n\u003Cbr /> \r\n\u003Cbr />•\tspotting the number of elves on the virtual Mythical Land and Christmas Ball in a Box;\r\n\u003Cbr />•\texperiencing snowfall while ice-skating at Icescape;\r\n\u003Cbr />•\tshopping and browsing through the Mythical Booth for Christmas accessories and gifts; and\r\n\u003Cbr />•\twatching the Mythical Christmas Magic Show, the International Magical Circus Show, the Time for Music, Saujana Impian Kajang Christmas Concert 2017 and more.\r\n\u003Cbr />\u003Cbr />\u003Cstrong>BOUNTIFUL BENEFITS\r\n\u003C/strong>\u003Cbr />\u003Cbr />Credit card and debit card holders stand to win exclusive prizes on spending a minimum of RM200 via Standard Chartered and a minimum of RM350 on other cards, at any outlet except GSC, HomePro, Index Living Mall, Parkson, Tesco, Icescape and District 21. Redemptions are available while stocks last and valid for same day purchases only.\r\n\u003Cbr />\u003Cbr />IOI City Mall general manager Chris Chong shared about some of the mall’s goings-on. “Christmas at IOI City Mall is always an exciting time. Complemented with excellent Christmas events, including our Icescape Ice Rink, it marks the spot as a great place for a festive family day out,” he said.\r\n\u003Cbr />The mall provides free shuttle service from Serdang KTM Station and Kajang MRT Station. Uber users are entitled to two free rides worth RM5 each until January via the promo code on the mall’s Facebook page.\r\n\u003Cbr />\u003Cbr />\u003Cstrong>CORPORATE CARING\r\n\u003C/strong>\u003Cbr />\u003Cbr />“Grant A Wish This Christmas 2017”, a month-long CSR campaign established under the foundation’s IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), was initiated by the IOI Group foundation. It saw IOI Group employees contribute cash and kind in an effort to spread love and cheer during Christmas.\r\n\u003Cbr />The close of the campaign saw 49 underprivileged children and home supervisors from two homes treated to an entertaining line-up of performances and activities. The evening ended with a presentation of gifts and cheques by IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) executive director Datin Joanne Wong and IOI personnel to the two homes.\r\n\u003Cbr />\u003Cbr />\u003Cbr />",{"id":1804,"name":1805},[2693],{"id":241,"name":564},{"name":2695,"file_name":2695,"url":2696},"img_0275.JPG","https://www.ioigroup.com/storage/605/img_0275.JPG","2025-05-02T09:52:54.000000Z",[],{"meta_title":2688,"meta_description":2700,"meta_keywords":28},"Wong (centre, in yellow) with IOI City Mall personnel and children from Rumah VictoryIOI CITY MALL invites shoppers and patrons to embark on a magical...",{"id":2702,"title":2703,"date":2704,"body":2705,"source":2706,"type":2707,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2709,"created_at":2709,"content_type":24,"related_news":2710,"metatag":2711},751,"Update Statement on IOI Pelita","2017-12-18T00:00:00.000000Z","\u003Cbr />\u003Cspan style=\"color: #000000;\">IOI Corporation Berhad (IOI) would like to thank its stakeholders for the valuable insights and opinions expressed over the last few days with regard to the potential divestment of its 70% equity interest in IOI Pelita Plantation Sdn Bhd (IOI Pelita). IOI has listened closely to stakeholder opinions on this issue. \u003Cbr />\u003Cbr />As stated last week, no commercial decisions have been taken pending further dialogue and engagement with RSPO, interested NGOs, customers and other stakeholders. In this respect, no announcement about the divestment, which would have been required under the Malaysian Stock Exchange Rules for a confirmed divestment agreement, has been issued by IOI. \u003Cbr />\u003Cbr />Following further consideration, it is clear to IOI that the divestment cannot and will not proceed, and this has been communicated to the potential buyer and other relevant stakeholders. \u003Cbr />\u003Cbr />IOI sincerely regrets the fact that it did not seek stakeholder opinions on this matter sooner in the potential divestment process. The company will continue to work hard towards resolution of the IOI Pelita case as per its agreements with NGOs and obligations under the RSPO. IOI will also be discussing this matter with the local communities involved. \u003Cbr />\u003Cbr />IOI looks forward to further constructive dialogue with its partners on this and all matters relating to the implementation of its Group Sustainability Palm Oil Policy. \u003Cbr />\r\n\u003Cbr />\r\n\u003Cbr />\r\n\u003Cbr />\u003Cstrong>Dato’ Lee Yeow Chor \u003C/strong>\u003Cbr />Chief Executive Officer \u003Cbr />IOI Corporation Berhad \u003C/span>\u003Cbr />",{"id":1821,"name":1822},[2708],{"id":922,"name":1822},"2025-05-02T09:52:53.000000Z",[],{"meta_title":2703,"meta_description":2712,"meta_keywords":28},"IOI Corporation Berhad (IOI) would like to thank its stakeholders for the valuable insights and opinions expressed over the last few days with regard...",{"id":2714,"title":2715,"date":2704,"body":2716,"source":2717,"type":2718,"image":2720,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2697,"created_at":2697,"content_type":24,"related_news":2723,"metatag":2724},752,"Foundation reaches out to help needy kids","\u003Cbr />\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/01(1).JPG\" alt=\"\" />\u003Cbr />\u003Cem>Wong (\u003C/em>\u003Cem>centre\u003C/em>\u003Cem>) presenting the mock cheques to representatives from the welfare homes. \u003Cbr />\u003C/em>\u003Cbr />\u003Cspan style=\"color: #000000;\">IOI Group’s foundation IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) hosted a “Grant A Wish This Christmas 2017” charity campaign which provided an opportunity to fulfil the wishes of 49 underprivileged children, aged between five and 17 years old, from Rumah Victory and Rumah Shalom. \u003Cbr />\r\n\u003Cbr />The month-long campaign, held from Nov 6 to 30, was open to all IOI Group employees who fulfilled all the wishes and donated cash to spread Christmas cheer to needy hearts. \u003Cbr />\r\n\u003Cbr />The gift-presentation ceremony was held in IOI City Mall’s Centre Court with an entertaining magic show. \u003Cbr />\r\n\u003Cbr />The donors were then invited on stage to present their gifts to their chosen child. IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) executive director Datin Joanne Wong also distributed goodie bags, sponsored by IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) and IOI City Mall to each child. \u003Cbr />\u003Cbr />The children were also invited to explore District 21, an apocalypse-themed indoor adventure park measuring 70,000sq ft, where they tackled various challenges including the Launch Pad, Low Ropes, Maze, Roller Glider, and Tubby Ride. \u003Cbr />\r\n\u003Cbr />The Grant A Wish This Christmas 2017 charity campaign is part of IOI Group’s corporate social responsibility programme and is in line with the foundation’s objectives for the betterment of society and community welfare. \u003Cbr />\r\n\u003Cbr />Another community effort of IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) is the opening of Bargain Basement, an innovative social enterprise that encourages the public to donate pre-loved or unused items to help the community. This initiative enables the community to access quality items at a low price. \u003Cbr />\r\n\u003Cbr />All nett proceeds are channelled to different charities twice yearly. \u003C/span>\u003Cbr />",{"id":10,"name":11},[2719],{"id":241,"name":564},{"name":2721,"file_name":2721,"url":2722},"011.JPG","https://www.ioigroup.com/storage/604/011.JPG",[],{"meta_title":2715,"meta_description":2725,"meta_keywords":28},"Wong (centre) presenting the mock cheques to representatives from the welfare homes. IOI Group’s foundation IOI Foundation (formerly known as Yayasan...",{"id":2727,"title":2728,"date":2729,"body":2730,"source":2731,"type":2734,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2736,"created_at":2709,"content_type":24,"related_news":2737,"metatag":2738},750,"IOI Loders Croklaan wins Sustainability Champion Award at Fi Europe","2017-12-07T00:00:00.000000Z","\u003Cp>\u003Cbr>The jury of the Food Ingredients Europe Innovation Awards has awarded IOI Loders Croklaan with the Sustainability Champion Award for its efforts in building a traceable, transparent and sustainable palm oil supply chain. The Palm Oil Sustainability Program of IOI Loders Croklaan shows the ability to demonstrate and stimulate innovation and raises the bar for the industry.\u003Cbr> \u003C/p>\u003Cfigure class=\"image image_resized\" style=\"width:82.32%;\">\u003Cimg style=\"aspect-ratio:457/325;display:block;margin-left:auto;margin-right:auto;\" src=\"https://www.ioigroup.com/storage/editor-images/XFF8cTaNy1bO7Dbnzyt1YPBekAENgTdLnMiiQLPI.png\" alt=\"IOI Loders Croklaan\" width=\"457\" height=\"325\">\u003C/figure>\u003Cp> \u003C/p>\u003Cp>IOI Loders Croklaan’s award-winning Palm Oil Sustainability Program consists of a dedicated three-step approach to trace back to the supplier mill and plantation level, and works in conjunction with its \u003Ca href=\"http://europe.ioiloders.com/images/static_pages/IOI_SPOP_with_TPS_Annex_%28June_2017%29.pdf\">Sustainable Palm Oil Policy and the third-party supplier annex\u003C/a>. The commitments in the area of traceability and transparency are part of the overarching long-term sustainability strategy of IOI Loders Croklaan.\u003Cbr>\u003Cbr>With the program and policy in place, the organization has shown significant progress in the past few years in building a transparent and sustainable palm oil supply chain. The Sustainable Palm Oil Policy and third-party supplier annex sets high standards and requirements for the business and applies to all suppliers, leveraging the broad reach of IOI Loders Croklaan in the industry to drive those standards down the supply chain. The corresponding three-step approach – focusing on traceability, risk assessment and supplier capacity building – enables IOI Loders Croklaan to ensure suppliers become compliant with the policy. The most recent achievements can be found in the regularly updated online \u003Ca href=\"http://europe.ioiloders.com/images/applications/IOI_Palm_Oil_Dashboard_update_Oct_2016-Sept_2017.pdf\">Palm Oil Dashboard\u003C/a>.\u003Cbr>\u003Cbr>Ben Vreeburg, Director Sustainability at IOI Loders Croklaan, explains: “We are very proud to receive this Sustainability Champion Award, as it recognizes that we are on the right track and that we are a driver for innovations in and transformation of the industry. We have achieved 100% traceability to mill level. With our strengthened policies and commitments – particularly our third-party supplier policy annex – we have set a new standard for best-practices in the sector.”\u003C/p>\u003Cp>\u003Cbr> \u003C/p>",{"id":2732,"name":2733},14,"IOI Loders Croklaan Europe",[2735],{"id":14,"name":15},"2025-05-19T04:36:48.000000Z",[],{"meta_title":2728,"meta_description":2739,"meta_keywords":28},"The jury of the Food Ingredients Europe Innovation Awards has awarded IOI Loders Croklaan with the Sustainability Champion Award for its efforts in bu...",{"id":2741,"title":2742,"date":2743,"body":2744,"source":2745,"type":2746,"image":2748,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2709,"created_at":2709,"content_type":24,"related_news":2751,"metatag":2752},749,"Granting the Christmas Wishes of 49 Underprivileged Children","2017-12-06T00:00:00.000000Z","\u003Cbr />\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/The%2049%20children%20will%20enjoy%20a%20very%20Merry%20Christmas%20thanks%20to%20the%20generosity%20of%20IOI%20Group%20staff.jpg\" alt=\"\" />\u003Cbr />\u003Cem>49 children enjoyed a very Merry Christmas, thanks to the generosity of IOI Group staffs.\u003Cbr />\u003C/em>\u003Cbr />PUTRAJAYA, 6 December 2017 – IOI Group’s foundation, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), hosted a “Grant A Wish This Christmas 2017” charity campaign that provided an opportunity to fulfil wishes of 49 underprivileged children, ranging from five to 17 years old, from both Rumah Victory and Rumah Shalom. This month-long campaign, which started from 6 to 30 November 2017, was opened to all IOI Group staff, who stepped up to fulfil all the wishes and contributed cash donations in an effort to spread a touch of Christmas love and cheer to needy hearts. \u003Cbr />\u003Cbr />The gift presentation ceremony was held on 6 December 2017 at the Lower Ground Floor of the Centre Court at IOI City Mall. A magical and spectacular magic show was performed by John Show, Edward and Icelone to the delight of the children. Then, the gift donors, consisting of IOI Group staff, were invited on stage to present their gifts to their chosen child. The Executive Director of IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), Datin Joanne Wong, also distributed goodie bags, sponsored by IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) and IOI City Mall, to each child. \u003Cbr />\u003Cbr />\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Datin%20Joanne%20granting%20the%20Christmas%20wish%20of%20a%205-year-old%20boy%20from%20Rumah%20Victory.jpg\" alt=\"\" />\u003Cbr />\u003Cbr />Datin Joanne Wong even presented two mock cheques worth RM10,000 each to both Rumah Victory and Rumah Shalom, courtesy of IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), to support the funding of the homes’ basic necessities. \u003Cbr />\u003Cbr />\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Datin%20Joanne%20(middle)%20presenting%20mock%20cheques%20of%20RM10%2C000%20each%20to%20Rumah%20Shalom%20and%20Rumah%20Victory.jpg\" alt=\"\" />\u003Cbr />\u003Cbr />Aside from the gift presentation ceremony, children from both homes were also invited to soak up the adventure in the morning at District 21, a first of its kind, apocalypse-themed indoor adventure park within a 70,000 square feet premises within the mall, whereby they tackled various challenges such as Launch Pad, Low Ropes, Maze, Roller Glider, and Tubby Ride. \u003Cbr />\u003Cbr />\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/02.jpg\" alt=\"\" />   \u003Cbr />\u003Cbr />The “Grant A Wish This Christmas 2017” charity campaign is part of IOI Group’s Corporate Social Responsibility programme and is in line with the foundation’s objectives in the betterment of society and community welfare. \u003Cbr />\u003Cbr />Another community effort of IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) is the opening of Bargain Basement, an innovative social enterprise, that encourages the public to donate pre-loved or unused items to help the community. This initiative enables the community to access quality items at a low price. All net proceeds are channeled to different charities bi-annually. Bargain Basement recently opened its second branch at IOI Mall Puchong following its first shop at IOI City Mall in June 2016. \u003Cbr />\u003Cbr />\u003Cbr />\u003Cbr />",{"id":1002,"name":1003},[2747],{"id":241,"name":564},{"name":2749,"file_name":2749,"url":2750},"the_49_children_will_enjoy_a_very_merry_christmas_thanks_to_the_generosity_of_ioi_group_staff.jpg","https://www.ioigroup.com/storage/603/the_49_children_will_enjoy_a_very_merry_christmas_thanks_to_the_generosity_of_ioi_group_staff.jpg",[],{"meta_title":2742,"meta_description":2753,"meta_keywords":28},"49 children enjoyed a very Merry Christmas, thanks to the generosity of IOI Group staffs.PUTRAJAYA, 6 December 2017 – IOI Group’s foundation, IOI Foun...",{"id":2755,"title":2756,"date":2757,"body":2758,"source":2759,"type":2760,"image":2762,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2765,"created_at":2766,"content_type":24,"related_news":2767,"metatag":2768},748,"IOI to allocate RM1bil for investments","2017-12-04T00:00:00.000000Z","\u003Cp>\u003Cbr>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/IOI%20LYC.JPG\" alt=\"\">\u003Cbr>\u003Cspan style=\"color:#000000;\">\u003Ci>On crude palm oil, Lee (pic), who is also chairman of the Malaysian Palm Oil Council, expected prices to increase to between RM2,500 and RM2,650 per tonne in the next two months, after the winter season.\u003C/i>\u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">PUTRAJAYA: IOI Corp Bhd will allocate RM1bil for investments in its upstream businesses, according to chief executive officer Datuk Lee Yeow Chor \u003Ci>(pic)\u003C/i>. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">“This is to rebalance the company’s investment portfolios, as it had invested substantially in downstream businesses over the past few years,” Lee told reporters after the company’s EGM here yesterday. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">Lee said IOI would be actively looking at the plantation sector, depending on the opportunities, as it has a strong balance sheet and a low gearing level of 0.38. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">On crude palm oil, Lee, who is also chairman of the Malaysian Palm Oil Council, expected prices to increase to between RM2,500 and RM2,650 per tonne in the next two months, after the winter season. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">“This is due to the strengthening ringgit and its correlation with higher crude oil price which has now moved above the US$60 per barrel threshold,” said Lee. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">He also projected IOI’s palm oil output to increase by between 8% and 10%, driven by the recovery in the current and new output in Indonesia, which has been moving towards its young prime stage. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">On the EGM, Lee said, the group has agreed to dispose of 70% of its stake in its Netherlands-based palm oil refinery, IOI Loders Croklaan Group BV, for RM3.94bil to Koninklijke Bunge BV. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">Lee said the disposal would bring down IOI’s net debt and net gearing. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">Moving forward, he said, the profit from the company’s upstream businesses would likely continue to account for about 60% to 70% of its total profit, mainly from the plantation sector, while about 25% to 35% would be from its downstream businesses. \u003C/span>\u003Cbr>\u003Cbr>\u003Cbr> \u003C/p>",{"id":10,"name":11},[2761],{"id":14,"name":15},{"name":2763,"file_name":2763,"url":2764},"ioi_lyc.JPG","https://www.ioigroup.com/storage/602/ioi_lyc.JPG","2025-05-04T08:10:24.000000Z","2025-05-02T09:52:52.000000Z",[],{"meta_title":2756,"meta_description":2769,"meta_keywords":28},"On crude palm oil, Lee (pic), who is also chairman of the Malaysian Palm Oil Council, expected prices to increase to between RM2,500 and RM2,650 per t...",{"id":2771,"title":2772,"date":2773,"body":2774,"source":2775,"type":2776,"image":2778,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2781,"created_at":2766,"content_type":24,"related_news":2782,"metatag":2783},747,"IOI Corp Q1 earnings jump 243% to RM360m","2017-11-17T00:00:00.000000Z","\u003Cp>\u003Cbr>\u003Cimg style=\"text-align:center;width:100%;\" src=\"https://www.ioigroup.com/Files/News/image/Pic%201.jpg\" alt=\"\">\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">KUALA LUMPUR: IOI Corporation Bhd's earnings surged 243% to RM360mil in the first quarter ended Sept 30, 2017, boosted by net foreign currency translation gain and higher contribution from the resource-based manufacturing segment. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">The plantation giant reported on Friday the earnings had jumped from RM104.80mil while profit before taxation (PBT) surged to RM450.1mil from RM136mil. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">IOI Corp said the higher PBT was due mainly to net foreign currency translation gain on foreign currency denominated borrowings and lower fair value loss on derivative financial instruments from the resource-based manufacturing segment, offset by lower fair value gain on biological assets. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">However, if the net foreign currency translation gain of RM68.6mil, fair value loss on derivative financial instruments RM21.5mil and fair value gain on biological assets of RM1mil were excluded, the underlying PBT of RM402mil was 26% higher than the underlying PBT of RM319.2mil a year ago. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">The higher underlying PBT was due mainly to higher contribution from the resource-based manufacturing segment. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">IOI Corp's revenue slipped 5.3% to RM2.20bil from RM233bil. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">Plantation profit fell 12% to RM305.6mil from RM346.6mil a year ago mainly due to lower fair value gain on biological assets of RM1mil compared with a gain of RM35.4mil a year ago. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">Excluding the fair value gain on biological assets, the underlying profit for plantation segment was lower at RM304.6mil compared with RM311.2mil a year ago. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">As for the resource-based manufacturing segment, it recorded a profit of RM106.6mil versus a loss of RM5.6mil a year ago. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">Excluding the fair value loss on derivative financial instruments, the underlying profit for resource-based manufacturing segment of RM128.1mil was 212% higher than the RM41mil a year ago. \u003C/span>\u003Cbr>\u003Cbr>\u003Cspan style=\"color:#000000;\">This was mainly due to higher margins from the oleochemical and refining sub-segments as well as higher sales volume from the oleochemical sub-segment. \u003C/span>\u003Cbr>\u003Cbr> \u003C/p>",{"id":10,"name":11},[2777],{"id":14,"name":15},{"name":2779,"file_name":2779,"url":2780},"pic_1.jpg","https://www.ioigroup.com/storage/601/pic_1.jpg","2025-05-04T08:10:41.000000Z",[],{"meta_title":2772,"meta_description":2784,"meta_keywords":28},"KUALA LUMPUR: IOI Corporation Bhd's earnings surged 243% to RM360mil in the first quarter ended Sept 30, 2017, boosted by net foreign currency transla...",{"id":2786,"title":2787,"date":2788,"body":2789,"source":2790,"type":2791,"image":2793,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2796,"created_at":2796,"content_type":24,"related_news":2797,"metatag":2798},746,"Young Talents Shine At Fair","2017-11-15T00:00:00.000000Z","\u003Cbr />\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Pic1(2).jpg\" alt=\"\" />\u003Cbr />\u003Cspan style=\"color: #000000;\">\u003Cem>Themed ‘School of the Future’, the fair saw students coming up with creative innovations using the knowledge and experience they gained from the After-School STEM (Science Technology Engineering Maths) Programme.\u003C/em> \u003Cbr />\u003Cbr />The Oasis Atrium of IOI Mall Puchong was abuzz with excitement as 150 students showcased their inventions to about 6,000 visitors at the STEM@Puchong Maker Faire 2017. \u003Cbr />\r\n\u003Cbr />Themed “School of the Future”, the fair saw the students come up with creative innovations, employing the knowledge and experiences that they acquired during the After-School STEM (Science Technology Engineering Maths) Programme. \u003Cbr />\r\n\u003Cbr />The programme, which was held two hours weekly after school for an entire year, involved creative thinking in developing ideas, using simple tools and materials, and advanced technology such as coding and science materials. \u003Cbr />\r\n\u003Cbr />The participants were from schools around Puchong — five primary and five secondary — and divided into two categories. \u003Cbr />\r\n\u003Cbr />\r\n\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Pic2(1).jpg\" alt=\"\" />\u003Cbr />\u003Cem>(From left) SK Puchong pupils with their DIY CCTV system at the STEM@Puchong Maker Faire 2017. \u003Cbr />\u003C/em>\u003Cbr />Bagging the gold awards were two teams from SJK(C) Shin Cheng and another from SK Puchong. \u003Cbr />\r\n\u003Cbr />Each team, which comprised three pupils, received trophies, laser-cut medals, complimentary ice skating vouchers and free holiday camp vouchers. \u003Cbr />\r\n\u003Cbr />Three silver and four bronze awards were also given to other deserving participants. \u003Cbr />\r\n\u003Cbr />The inventions were judged based on the upcycling of materials, the usage of Arduino (an open-source electronics platform) as well as the presentation of the creations. \u003Cbr />\r\n\u003Cbr />Apart from the competition, the event saw exhibitions of mobile applications created by secondary school participants. \u003Cbr />\r\n\u003Cbr />The mobile applications aim to address challenges faced by schools such as library bookkeeping and tracking of attendance. \u003Cbr />\r\n\u003Cbr />The After-School STEM Programme is organised by Chumbaka, a social purpose organisation (SPO) in collaboration with IOI Group’s IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) and Agensi Inovasi Malaysia (AIM). \u003Cbr />\u003Cbr />\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Pic3(1).jpg\" alt=\"\" />\u003Cbr />\u003Cem>Pupils showing off their inventions for the Young Innovate Junior competition. \u003Cbr />\u003C/em>\u003Cbr />At the launch and prize-giving ceremony, AIM chief executive officer Naser Jaafar said the agency was honoured to collaborate with IOI Group and specifically IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) on this project. \u003Cbr />\r\n\u003Cbr />“STEM is more than just an acronym; it is also a skill or a philosophy. \u003Cbr />\r\n\u003Cbr />“Science, technology, engineering and mathematics help students to learn the skills of gathering and studying information, and using that information with technology to resolve problems,” he said. \u003Cbr />\r\n\u003Cbr />IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) executive director Datin Joanne Wong explained that this was also a sustainable programme by which current participants act as teachers and leaders for next year’s batch. \u003Cbr />\r\n\u003Cbr />“This also allows us to reach out to more schools instead of focusing on just one area. \u003Cbr />\r\n\u003Cbr />“I’ve been visiting the schools throughout the year and it’s nice to see the students working together to create something special and unique. \u003Cbr />\r\n\u003Cbr />“The projects are also hands-on and fun; teaching them to solve problems and acquire new skills such as presenting and communicating that are relevant in the 21st century,” Wong said. \u003Cbr />\u003Cbr />\r\n\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Pic4(1).jpg\" alt=\"\" />\u003Cbr />\u003Cem>Participants of the Battle Of The Bots competition giving their best shot as onlookers cheer them on. \u003Cbr />\u003Cbr />\u003C/em>Commending this initiative was Institute of Teaching Education Malaysia deputy rector Dr Rusmini Ku Ahmad, who said it was an important part of the education ecosystem to complement the existing education system. \u003Cbr />\r\n\u003Cbr />“Our world is changing rapidly and we’re entering the fourth Industrial Revolution. If we do not innovate, we will become obsolete. \u003Cbr />\r\n\u003Cbr />“Students need to know how to read and write code as well as programme things. \u003Cbr />\r\n\u003Cbr />“They must possess higher-order thinking skills and must be able to apply what they have learned in the classroom to innovate, invent and build things,” she stressed. \u003C/span>\u003Cbr />",{"id":10,"name":11},[2792],{"id":14,"name":15},{"name":2794,"file_name":2794,"url":2795},"pic12.jpg","https://www.ioigroup.com/storage/600/pic12.jpg","2025-05-02T09:52:51.000000Z",[],{"meta_title":2787,"meta_description":2799,"meta_keywords":28},"Themed ‘School of the Future’, the fair saw students coming up with creative innovations using the knowledge and experience they gained from the After...",{"id":2801,"title":2802,"date":2803,"body":2804,"source":2805,"type":2806,"image":2808,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2796,"created_at":2796,"content_type":24,"related_news":2811,"metatag":2812},745,"IOI’s Foundation Awards RM333,000 in Scholarships to 14 Outstanding Students","2017-11-10T00:00:00.000000Z","\u003Cbr />\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Scholarship(1).jpg\" alt=\"\" />\u003Cbr />\u003Cbr />PUTRAJAYA, 4 November 2017 – IOI Group’s foundation, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), has awarded RM333,000 in scholarships to 14 outstanding students who are pursuing their full-time undergraduate studies at recognised local higher learning institutions. \u003Cbr />\u003Cbr />The scholars were recognised for their excellent academic achievements and extra-curricular activities at the IOI Scholarship Presentation Ceremony which was held recently. IOI Corporation Berhad’s Chief Executive Officer Dato’ Lee Yeow Chor, who is also the Trustee of IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), and Executive Director of IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) Datin Joanne Wong presented the certificates and cheques to the students. \u003Cbr />\u003Cbr />To date, the foundation has disbursed more than RM6.3 million worth of scholarships to more than 250 students since its introduction. The scholarship awards are part of IOI Group’s Corporate Social Responsibility programme, in line with the foundation’s objectives in providing financial assistance to academically outstanding students and reducing the financial burden of their parents. The foundation’s educational and medical assistance initiatives aspire to contribute towards the betterment of society and community welfare. \u003Cbr />\u003Cbr />“We are determined to groom these graduates by offering them internships and employment with IOI Group upon their graduation,” said Dato’ Lee. Selected students will have the chance to gain practical work experience as they undergo industrial training in IOI during their long semester break. \u003Cbr />\u003Cbr />Meanwhile, first year scholarship recipient from Universiti Malaya, Ms Edwina Joyce Sebastian, who is pursuing her Bachelor of Environmental Management Science, aptly summarised the joy of the entire batch of scholars by stating the scholarship award “has certainly lightened the burdens of their parents and put a lot of their worries to rest.” The day’s programme included a presentation on IOI Group’s core businesses, the sharing of experiences by two previous scholars and also insights on Sustainability in IOI for Generation Z. \u003Cbr />\u003Cbr />Some of the foundation’s intitiatives are the Young Achievers’ Awards, Student Adoption Programme, School Adoption Programme and collaborations with non-profit organisations such as HUMANA (Borneo Child Aid Society) and World Vision Malaysia in supporting the education of estate workers’ children and native children, respectively, in East Malaysia. Another community effort of IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) is the opening of Bargain Basement, an innovative social enterprise, that encourages the public to donate pre-loved or unused items to help the community. This initiative enables the community to access quality items at a low price. All net proceeds are channeled to different charities biannually. \u003Cbr />\u003Cbr />",{"id":1002,"name":1003},[2807],{"id":241,"name":564},{"name":2809,"file_name":2809,"url":2810},"scholarship1.jpg","https://www.ioigroup.com/storage/599/scholarship1.jpg",[],{"meta_title":2802,"meta_description":2813,"meta_keywords":28},"PUTRAJAYA, 4 November 2017 – IOI Group’s foundation, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), has awarded RM333,000 in schol...",{"id":2815,"title":2816,"date":2817,"body":2818,"source":2819,"type":2820,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1040,"created_at":1040,"content_type":24,"related_news":2822,"metatag":2823},874,"IOI Corp raises the benchmark on labour policies","2017-11-01T00:00:00.000000Z","\u003Cp>KUALA LUMPUR: Plantation giant IOI Corporation Bhd has raised the benchmark on labour policies as it commits to no longer charge recruitment fees to its workers, respect Freedom of Association and strive towards paying a living wage.\u003C/p>\r\n\u003Cp>Tenaganita, a Malaysian-based human rights organisation, said on Wednesday these policies collectively set a new standard in an industry that has been repeatedly exposed for labour rights violations and worker exploitation.\u003C/p>\r\n\u003Cp>\"Foreign migrant workers in Malaysia's palm oil industry often face harrowing conditions and suffer under crippling debts due to deception and high fees paid in the recruitment process.\u003C/p>\r\n\u003Cp>\"IOI Group's 'No Fees' policy sets an important precedent in preventing the debts that keep workers trapped in forced labour from happening in the first place,\" said Tenaganita executive director Glorene Das.\u003C/p>\r\n\u003Cp>\"IOI Group's new labour policies set a new standard, and all other Malaysian palm oil companies must follow suite, including Sime Darby, Felda Global Ventures, Kuala Lumpur Kepong Bhd (KLK), Genting and United Plantations,\" Das said.\u003C/p>\r\n\u003Cp>She said Tenaganita was looking forward to having unfettered access to the workers so that any shortcomings in implementation can be brought to the attention of the management for prompt remedial action.\u003C/p>\r\n\u003Cp>To recap, she said the Malaysian palm oil industry has become notorious for forced labor conditions.\u003C/p>\r\n\u003Cp>Foreign migrant workers who comprise the vast majority of the workforce on Malaysian palm oil plantations usually have their passports seized upon arrival, limiting their freedom of movement and ability to leave the plantation.\u003C/p>\r\n\u003Cp>Often, workers are charged large recruitment fees by third-party labour brokers to secure their jobs on the plantations, and must work off the debt leaving them in situation of bonded labour.\u003C/p>\r\n\u003Cp>This indebtedness and limitations on their freedom of movement amount to conditions of modern day slavery.\u003C/p>\r\n\u003Cp>IOI Group's new policies raise the bar on labour standards in the Malaysian palm oil industry on a number of critical issues.\u003C/p>\r\n\u003Cp>\"In its new wage policy, IOI commits to paying workers a statutory monthly minimum wage topped with productivity linked incentives, and it commits to calculate a living wage using a credible methodology with the goal of closing the gap between prevailing wages and a living wage.\u003C/p>\r\n\u003Cp>\"In its recruitment policy, IOI commits that foreign migrant workers will not be charged any recruitment related feeds and any feed found to be charged will be reimbursed to workers,\" she said, adding this policy would be enforced with systematic after-arrival interviews.\u003C/p>\r\n\u003Cp>Lastly, in its Freedom of Association policy, IOI commits that trade unions will have free access to the IOI estates.\u003C/p>\r\n\u003Cp>\"IOI Group's commitments are an important first step, but implementation will be the real test.\u003C/p>\r\n\u003Cp>\"Consumer brand companies and buyers committing to ending forced labor in their supply chains must monitor IOI's progress and require full implementation of these policies,\" said Sonja Vartiala, Executive Director of Finnwatch.\u003C/p>\r\n\u003Cp>\"This means, for example, that workers who have paid fees must be reimbursed in full.\"\u003C/p>\r\n\u003Cp>IOI Group has a troubled past, and is one of only a few companies to ever have its certification dropped by the Roundtable on Sustainable Palm Oil (RSPO), due to documented complaints of deforestation and the draining and burning of peatlands.\u003C/p>\r\n\u003Cp>Around the world, palm oil buyers and governments in consuming markets are committing to root out modern day slavery in supply chains through legislation and voluntary mechanisms.\u003C/p>\r\n\u003Cp>The US and UK passed legislation which require companies to disclose how they are addressing forced labour in supply chains. France has introduced mandatory human rights due diligence for large companies.\u003C/p>",{"id":10,"name":11},[2821],{"id":14,"name":15},[],{"meta_title":2816,"meta_description":2824,"meta_keywords":28},"KUALA LUMPUR: Plantation giant IOI Corporation Bhd has raised the benchmark on labour policies as it commits to no longer charge recruitment fees to i...",{"id":2826,"title":2827,"date":2828,"body":2829,"source":2830,"type":2833,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":1040,"created_at":1040,"content_type":24,"related_news":2835,"metatag":2836},873,"Palm Oil Giant, IOI, Announces Major Labor Reforms","2017-10-31T00:00:00.000000Z","\u003Cp>Palm oil company, IOI Corp Bhd, has announced major labor reforms — a move lauded by NGOs including Rainforest Action Network (RAN), Finnwatch, and Tenaganita as setting a new standard in the industry.\u003C/p>\r\n\u003Cp>\u003Ca href=\"http://www.theedgemarkets.com/article/ioi-corps-labourfriendly-policies-lauded-ngos\" target=\"_blank\" rel=\"noopener\">The Edge Markets\u003C/a>\u003Cspan> \u003C/span>reports that “IOI Corp has expressed its commitment not to charge recruitment-related fees to foreign workers, to provide a living wage determined through credible methodology, and to provide trade unions with free access to its estates.”\u003C/p>\r\n\u003Cblockquote>\r\n\u003Cp>“Under its new wage policy, IOI Corp has committed to paying a monthly minimum wage, topped with productivity-linked incentives to its workers. On recruitment-related fees, IOI Corp has indicated that any fees found to be charged will be reimbursed to workers, the statement read. This policy is to be enforced with systematic after-arrival interviews.”\u003C/p>\r\n\u003C/blockquote>\r\n\u003Cp>These new policies were seen as a welcome move by labor rights activists who hope that other palm oil companies will follow suit. The Malaysian palm oil industry has for years been scrutinized for its use of forced labor and practices that exploit migrant workers through debt bondage and high recruitment fees.\u003C/p>\r\n\u003Cp>Glorene Das from Malaysian NGO Tenaganita explained, “Often, workers are charged large recruitment fees by third-party labour brokers to secure their jobs on the plantations, and must work off the debt leaving them in a situation of bonded labour. This indebtedness and limitations on their freedom of movement amount to conditions of modern day slavery.”\u003C/p>\r\n\u003Cp>Finnwatch executive director Sonja Vartiala cautioned that while this is an important policy change, the real test will be in implementation. “Consumer brand companies and buyers committing to ending forced labour in their supply chains must monitor IOI’s progress and require full implementation of these policies,” she said.\u003C/p>",{"id":2831,"name":2832},94,"www.freedomunited.org",[2834],{"id":14,"name":15},[],{"meta_title":2827,"meta_description":2837,"meta_keywords":28},"Palm oil company, IOI Corp Bhd, has announced major labor reforms — a move lauded by NGOs including Rainforest Action Network (RAN), Finnwatch, and Te...",{"id":2839,"title":2840,"date":2828,"body":2841,"source":2842,"type":2843,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2845,"created_at":2845,"content_type":24,"related_news":2846,"metatag":2847},741,"Malaysia sees La Nina pushing CPO prices above RM3,000/tonne","\u003Cdiv style=\"text-align: center;\">\u003C/div>\r\n\u003Cdiv style=\"text-align: center;\">\u003Cem>Second wind: Tan Sri Lee Shin Cheng says the price of CPO will shoot up to RM3,300 per tonne if La Nina sets in.\u003C/em>\u003C/div>\r\n\u003Cdiv>\u003C/div>\r\n\u003Cdiv>\u003Cspan style=\"font-size: 12px;\"> \u003C/span>\u003C/div>\r\n\u003Cp>PUTRAJAYA: The local plantation industry is expecting crude palm oil (CPO) prices to cruise comfortably above RM3,000 per tonne if La Nina sets in, according to IOI Corp Bhd founder and executive chairman Tan Sri Lee Shin Cheng. \u003Cbr />\u003Cbr />La Nina, which brings in heavy rainfall, is favoured for fresh fruit bunch (FFB) development and higher yields in oil palms, in comparison to the recent El Nino dry weather phenomenon that disrupts yields in estates.\u003C/p>\r\n\u003Cdiv>\r\n\u003Cdiv>\u003Cbr />“The CPO price is currently very strong, hovering within the range of RM2,750 to RM2,800 per tonne. \u003C/div>\r\n\u003Cdiv>\u003Cbr />“However, if La Nina sets in, I think the price will shoot up to RM3,300 per tonne,” Shin Cheng said after the group’s AGM yesterday. \u003C/div>\r\n\u003Cdiv>\u003Cbr />Of the eight international climate models surveyed by ABM, seven climate models suggest that sea surface temperatures will reach or exceed La Nina thresholds by this November. \u003C/div>\r\n\u003Cdiv>\u003Cbr />“If La Nina is confirmed, then we expect excessive rains in Malaysia and Indonesia, which usually cause floods and affect palm oil production in flood-prone states. \u003C/div>\r\n\u003Cdiv>\u003Cbr />“The magnitude of the impact will depend on whether La Nina eventually materialises, and its strength. \u003C/div>\r\n\u003Cdiv>\u003Cbr />“Coupled with the labour shortage issue in the industry, we expect the palm oil price to surge to RM3,500 per tonne if a strong La Nina materialises,” said MIDF Research. \u003C/div>\r\n\u003Cdiv>\u003Cbr />Meanwhile, on the corporate front, IOI Corp is looking to expand its downstream products’ reach to West Africa and the Middle East market. \u003C/div>\r\n\u003Cdiv>\u003Cbr />Group CEO Datuk Lee Yeow Chor said the Malaysian Palm Oil Council (MPOC) had recently attended a palm oil seminar in Ghana, as part of the council’s efforts to expand the Malaysian palm oil market in West Africa. \u003C/div>\r\n\u003Cdiv>\u003Cbr />“Countries like Iran in the Middle East have shown promising prospects. \u003C/div>\r\n\u003Cdiv>\u003Cbr />“Iran’s palm oil consumption has grown by 100% this year compared to last year,” said Yeow Chor, who is also the chairman of MPOC. \u003C/div>\r\n\u003Cdiv>\u003Cbr />Apart from that, IOI Corp is targeting to increase its crop production by about 10% from the previous financial year. \u003C/div>\r\n\u003Cdiv>\u003Cbr />This shall be driven by the recovery from El Nino’s drought effect over the past two years as well as the group’s new plantation areas in Indonesia, whereby the oil palms are now coming into maturity and prime age. \u003C/div>\r\n\u003Cdiv>\u003Cbr />For the financial year ended June 30, IOI Corp’s FFB production amounted to 3.16 million tonnes. \u003C/div>\r\n\u003Cdiv>\u003Cbr />Yeow Chor explained that the group does not set a hard target in terms of plantation earnings projections, as “it is very much dependent on the volatile CPO or palm kernel prices”. \u003C/div>\r\n\u003Cdiv>\u003Cbr />Going forward, IOI Corp intends to focus more on upstream investment opportunities. \u003C/div>\r\n\u003Cdiv>\u003Cbr />IOI Corp plans to increase its plantation land bank by acquiring brownfield plantations located in Malaysia, although there is no target land bank size to be achieved and the location and size would depend on the available land bank opportunities. \u003C/div>\r\n\u003Cdiv>\u003Cbr />In addition, Yeow Chor is confident that after selling the 70% stake in the specialty fats business IOI Loders Croklaan Group BV to global agribusiness and food company Bunge Ltd, the business will grow much faster with Bunge’s help. \u003C/div>\r\n\u003Cdiv>\u003Cbr />IOI Corp expects the stake disposal to be completed between June and September next year. \u003C/div>\r\n\u003Cdiv>\u003Cbr />An estimated 25% of the proceeds shall be allocated for future investments across a span of two years after the transaction has been completed. \u003Cbr />“We have been investing a lot in downstream over the past few years. So, it is going to be a realignment or rebalancing of investments. \u003C/div>\r\n\u003Cdiv>\u003Cbr />“A natural hedge or synergy between downstream and upstream is always very important to us and it has always given us a relatively stable profit. \u003Cbr />“We will continue to maintain that,” he said, adding that the group’s oleochemical business is improving. \u003C/div>\r\n\u003Cdiv>\u003Cbr />IOI Corp closed 0.7% higher at RM4.52, traded on a volume of 1.88 million shares.\u003C/div>\r\n\u003C/div>",{"id":10,"name":11},[2844],{"id":14,"name":15},"2025-05-02T09:52:50.000000Z",[],{"meta_title":2840,"meta_description":2848,"meta_keywords":28},"Second wind: Tan Sri Lee Shin Cheng says the price of CPO will shoot up to RM3,300 per tonne if La Nina sets in.   PUTRAJAYA: The local plantation ind...",{"id":2850,"title":2851,"date":2828,"body":2852,"source":2853,"type":2854,"image":2856,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2845,"created_at":2845,"content_type":24,"related_news":2859,"metatag":2860},742,"IOI Aims to Increase Crop Production by 10 pct in FY2018","\u003Cdiv>\u003C/div>\r\n\u003Cdiv>\u003C/div>\r\n\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/IOI-aims-to-increase-crop-production-by-10-pct-in-FY2018.PNG\" alt=\"\" width=\"898\" height=\"539\" />\u003C/div>\r\n\u003Cdiv>\u003Cem>IOI Corporation Bhd chief executive officer Datuk Lee Yeow Chor says the past few years have seen more investments put into the downstream businesses and it is time for a realignment to be carried out. (NSTP Pic by MUHD ZAABA ZAKERIA)\u003C/em>\u003C/div>\r\n\u003Cdiv>\u003Cem>\u003C/em>\u003C/div>\r\n\u003Cdiv>\u003C/div>\r\n\u003Cp>PUTRAJAYA: Integrated palm oil player company IOI Corporation Bhd aims to increase crop production by 10 per cent in its financial year 2018, and will also embark on rebalancing its investments into upstream businesses while reaping the profits from previous investments in downstream businesses. \u003C/p>\r\n\u003Cdiv>\u003Cbr />\"The major part of our earnings come from our plantation business. We aim to increase 10 per cent after drop impact from El Nino last year. \u003C/div>\r\n\u003Cdiv>  \u003Cbr />\"We are also allocating 25 per cent of the sales proceeds for future investments in upstream and downstream but focus will be more on upstream. \u003C/div>\r\n\u003Cdiv>\u003Cbr />\"We have about 30 per cent interest in our investment in Scotland in about 9 months time and 100 per cent from the oleochemicals business which will present investment opportunities,\" chief executive officer Datuk Lee Yeow Chor said. \u003C/div>\r\n\u003Cdiv>\u003Cbr />He said the past few years have seen more investments put into the downstream businesses and it is time for a realignment to be carried out. \u003C/div>\r\n\u003Cdiv>\u003Cbr />\"We hope specialty fats business post sale to Bangi, the business will grow much faster. On the olechemical side, after the puchase of two plants in Germany, we will now make more focus into our upstream business. \u003C/div>\r\n\u003Cdiv>\u003Cbr />\"The natural hedge synergy between upstream and downstream businesses have maintained a somewhat stable profit and we aim for it to remain that way. \u003C/div>\r\n\u003Cdiv>\u003Cbr />\"We are also looking into new emerging markets such as Ghana in West Africa and Iran which has shown more than 100 per cent growth in palm oil last year,\" added Lee. \u003C/div>\r\n\u003Cdiv>\u003Cbr />Asked on the palm oil price outlook, Lee said it seems strong and stable, while not discounting the fact that La Nina may cause the price to jump to RM3,300 per metric tonne. \u003Cbr />\u003Cbr />\u003C/div>",{"id":53,"name":54},[2855],{"id":14,"name":15},{"name":2857,"file_name":2857,"url":2858},"ioi_aims_to_increase_crop_production_by_10_pct_in_fy2018.PNG","https://www.ioigroup.com/storage/598/ioi_aims_to_increase_crop_production_by_10_pct_in_fy2018.PNG",[],{"meta_title":2851,"meta_description":2861,"meta_keywords":28},"IOI Corporation Bhd chief executive officer Datuk Lee Yeow Chor says the past few years have seen more investments put into the downstream businesses...",{"id":2863,"title":2864,"date":2828,"body":2865,"source":2866,"type":2867,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2845,"created_at":2845,"content_type":24,"related_news":2869,"metatag":2870},743,"IOI Corp's labour-friendly policies lauded by NGOs","\u003Cp style=\"margin: 0pt 0pt 15pt; background-color: #ffffff;\">KUALA LUMPUR (Oct 31): IOI Corp Bhd has adopted three labour-friendly policies, a move that was lauded by several non-governmental organisations today as one that has set a standard in the oil palm industry, which has been rife with labour rights violations and worker exploitation. \u003Cbr /> \r\n\u003Cbr />In a joint statement with environmental organisation Rainforest Action Network (RAN) and Finnish civic organisation Finnwatch, human rights organisation Tenagakita' executive director Glorene Das commended the plantations group for having “raised the bar” on labour standards in the local oil palm industry. \u003Cbr />\r\n\u003Cbr />According to the trio, IOI Corp has expressed its commitment not to charge recruitment-related fees to foreign workers, to provide a living wage determined through credible methodology, and to provide trade unions with free access to its estates. \u003Cbr />\r\n\u003Cbr />Das said the move by the plantations group must be emulated by all Malaysian palm oil companies. “We look forward to having unfettered access to the workers so that any shortcomings in implementation can be brought to the attention of the management for prompt remedial action,” said the human rights watcher. \u003Cbr /> \r\n\u003Cbr />Das said foreign workers in Malaysia’s palm oil industry suffer under crippling debts due to deception and high fees paid in the recruitment process. \u003Cbr /> \r\n\u003Cbr />She also highlighted harsh labour conditions experienced by foreign plantation workers here, such as having their passports seized upon arrival to limit their movement and ability to leave the plantation. \u003Cbr /> \r\n\u003Cbr />“Often, workers are charged large recruitment fees by third-party labour brokers to secure their jobs on the plantations, and must work off the debt leaving them in a situation of bonded labour. This indebtedness and limitations on their freedom of movement amount to conditions of modern day slavery,” said Das. \u003Cbr /> \r\n\u003Cbr />“IOI Group’s ‘No Fees’ policy sets an important precedent in preventing the debts that keep workers trapped in forced and bonded labour from happening in the first place,” she added. \u003Cbr /> \r\n\u003Cbr />Under its new wage policy, IOI Corp has committed to paying a monthly minimum wage, topped with productivity-linked incentives to its workers. On recruitment-related fees, IOI Corp has indicated that any fees found to be charged will be reimbursed to workers, the statement read. This policy is to be enforced with systematic after-arrival interviews. \u003Cbr /> \r\n\u003Cbr />Meanwhile, the trio also recognised the importance of follow-up actions and IOI Corp's “troubled past”, as they noted it was one of few companies to have its certification dropped by the Roundtable on Sustainable Palm Oil (RSPO) amid documented complaints of deforestation and the draining and burning of peatlands. \u003Cbr /> \r\n\u003Cbr />“IOI Group’s commitments are an important first step, but implementation will be the real test,” said Finnwatch executive director Sonja Vartiala. “Consumer brand companies and buyers committing to ending forced labour in their supply chains must monitor IOI’s progress and require full implementation of these policies,” Vartiala added. \u003Cbr /> \r\n\u003Cbr />RAN's senior campaigner Robin Averbeck concurred. “This is a critical step forward, but IOI must also seek to remedy its problematic past. Beyond full implementation of these new labour policies, IOI Group must resolve long-standing grievances, most notably with the Long Teran Kanan communities, before it can be considered a responsible supplier of palm oil, or a worthy recipient of financial investment,” he said. \u003Cbr />\u003Cbr />\u003C/p>",{"id":109,"name":110},[2868],{"id":14,"name":15},[],{"meta_title":2864,"meta_description":2871,"meta_keywords":28},"KUALA LUMPUR (Oct 31): IOI Corp Bhd has adopted three labour-friendly policies, a move that was lauded by several non-governmental organisations today...",{"id":2873,"title":2874,"date":2875,"body":2876,"source":2877,"type":2878,"image":2880,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2883,"created_at":2883,"content_type":24,"related_news":2884,"metatag":2885},740,"IOI Corp and Bunge in win-win deal","2017-09-16T00:00:00.000000Z","\u003Cp>\u003Cem>Vital role: Lee says IOI will continue to play a vital role in Loders post-transaction given its expertise in palm oil sourcing and\u003Cbr />business experience in the fast growing Asia Pacific region.\u003C/em>\u003C/p>\r\n\u003Cp>\u003Cstrong>IOI to reduce debts while it’s a game changer for Bunge in edible oils \u003C/strong>\u003C/p>\r\n\u003Cp>\u003Cstrong>Salient points\u003C/strong>\u003Cbr />  \u003Cbr />> IOI Loders-Bunge in strategic partnership \u003Cbr />> Loders to ride on Bunge’s extensive global market network \u003Cbr />> Game changer for Bunge in edible oil blends business \u003Cbr />\u003Cbr />A “win-win” strategic partnership is in the making between two corporate giants, plantation group IOI Corp Bhd and US-based global agribusiness and food company Bunge Ltd. \u003Cbr />\u003Cbr />This week, IOI announced the proposed disposal of a 70% controlling stake in IOI’s Netherlands-based palm oil refinery IOI Loders Croklaan Group BV for RM3.94bil to Bunge while retaining a 30% stake in Loders. Loders is one of Europe’s leading global suppliers of specialty oils and fats to the processed food industry. IOI bought this business from Unilever back in November 2002 for RM814mil. \u003Cbr />\u003Cbr />Since then, Loders has grown from three to seven processing plants in North America, Europe and Asia. It posted US$1.6bil in revenue in 2016s and processes 1.6 million tonnes of raw material in seven locations in North America, Europe and Malaysia. Two facilities in China and Ghana also are nearing completion. \u003Cbr />\u003Cbr />So, what is the rationale behind IOI’s divestment in Loders, which has steadily contributed 10% to 15% to the IOI Group’s profits in the past five years? \u003Cbr />\u003Cbr />According to IOI Corp executive director and CEO Datuk Lee Yeow Chor, post-transaction IOI will continue to play a vital role in Loders given its expertise in palm oil sourcing and business experience in the fast growing Asia-Pacific region. IOI, via its 30% stake in Loders, will still be involved in key management decisions taken by Loders as it will have two representatives on Loders’ five-member board of directors. It will also remain a major supplier of sustainably produced palm oil and palm products to Loders.\u003C/p>\r\n\u003Cp>\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/IOI-Bunge.png\" alt=\"\" />\u003Cbr />\u003Cbr />\u003Cstrong>New investments \u003Cbr />\u003C/strong>\u003Cbr />Of the total sales proceeds from Loders’ 70% stake disposal, Lee tells StarBizWeek that IOI will reserve 30% or RM1.172bil for future investments and working capital requirement. Of the remaining proceeds, 50% will be utilised for repayment of borrowings, 20% dividend and disposal expenses about 0.25%. \u003Cbr />\u003Cbr />“We plan to make further new investments in our core business areas using part of the proceeds of the disposal,” says Lee, who adds that there is a possible future invesments in plantation. \u003Cbr />\u003Cbr />To support its growth expansion plan, IOI Group is open to acquire more plantation land in Malaysia or Indonesia. To date, IOI Group has about 207,000 ha plantation land bank in Malaysia and Indonesia with the balance of unplanted area about 9,000 ha. The group is planning to complete the planting of remaining 9,000 ha in Indonesia over the next two to three years with a targeted replanting about 6,000-9,000 ha per year. \u003Cbr />\u003Cbr />At the same time, IOI holds 31.7% stake in an associate company Bumitama Agri Ltd, which has a planted area of about 120,000 ha in Indonesia. \u003Cbr />\u003Cbr />Asked on the possible future earnings dilution to IOI Group due to its smaller stake in Loders, Lee points out that it will depend on the growth of IOI group’s present plantation and oleochemical businesses “where there have been new plantings and recent acquisition of new plants as well as plant expansion respectively.” \u003Cbr />\u003Cbr />“We are also planning to make further new investment in our core business areas using part to the proceeds from the disposal,” explains Lee. \u003Cbr />\u003Cbr />The disposal of Loders is expected to be completed by the fourth quarter of 2018, and is not expected to have any material impact on the earnings of the IOI group for June 30, 2017. \u003Cbr />\u003Cbr />Meanwhile, Bunge CEO Soren W. Schroder has described the partnership with IOI Loders as a “natural match.” The deal would be a game changer by raising Bunge’s earnings from edible oil blends which tend to have higher and steadier profit margins than trading bulk commodities. Bunge last year handled seven million tonnes of edible oil products while Loders’ oil volume totalled 1.6 million tonnes. In a recent analysts briefing in New York, he points out that Loders acquisition accelerates the growth of Bunge value-added business and is immediately cash accretive. \u003Cbr />\u003Cbr />The cost synergies are significant at US$45mil per year by year three and we estimate revenue synergies to be about US$35mil in the near term.” \u003Cbr />\u003Cbr />Schroder said Loders’ standalone earnings before income, tax, depreciation and amortisation (EBITDA) is projected to grow at low double digits per year over the next three years, and when integrated with Bunge will nearly double the earnings of the company’s oils franchise. \u003Cbr />\u003Cbr />“The combined business will focus intensely on customer solutions and clear commitments to sustainability,” he said. In July, Bunge has identified growth in edible oils as a priority when it announced a US$450mil cost-cutting and competitiveness programme. \u003Cbr />\u003Cbr />The company entered into a US$900mil loan agreement with Sumitomo Mitsui Banking Corporation, which it may use to finance the Loders purchase. Schroder said that while Bunge would borrow to help finance the acquisition, which is expected to close in 12 months, it “will pay itself back in reasonably short order”. \u003Cbr />\u003Cbr />\u003Cstrong>Synergies creation \u003C/strong>\u003Cbr />\u003Cbr />According to UOBKayHian, IOI is emulating the synergies created from the partnership between Wilmar Group and another global agribusiness player Archer Daniels Midland. By riding on Bunge’s global presence, Loders would be tapping into Bunge’s presence in other regions such as South America and South Asia which IOI currently does not have a footprint which will help to increase sales in Loders. IOI will also be getting better access to the softoils market by partnering Bunge, says the research unit. \u003Cbr />\u003Cbr />The research unit said in its report that the global demand for blended oils is increasing. Thus the exposure to other softoil markets will enhance Loders competitive advantage, it added. UOB Kay Hian also points out that post-disposal, IOI net gearing ratio is expected to reduce to 0.34 times from 0.78 times as of end-June 2017. \u003Cbr />\u003Cbr />Paring down of foreign currency borrowings will reduce IOI’s exposure to US dollar fluctuation. A potential special dividend is also in the offing with the IOI management planning to utilise 20% of the proceeds as special dividend, and this will translate to dividend per share of 12.6 sen or yield of 2.8%. On potential earnings dilutions, UOBKayHian understands that without the partnership with Bunge, Loders sales are expected to grow at single-digit year-on-year (y-o-y) in the coming years. But through the partnership, Loders sales are expected to grow at double digit y-o-y, supported by the cross selling and expansion to new markets. \u003Cbr />\u003Cbr />Moreover, the partnership is expected to create cost synergy through shared infrastructure and supply-chain optimisation. According to Bunge, the partnership could create total synergy of US$80mil in 2020, of which US$45mil will be in cost and US$35mil in revenue. \u003Cbr />\u003Cbr />“However, the disposal could lead to earnings dilution to IOI in the earlier years due to its smaller stake (30%) in Loders,” adds the research unit. \u003Cbr />\u003Cbr />CIMB Research also views the disposal of Loders’ controlling stake to Bunge as a good deal for IOI. IOI estimated that it could book a one-off gain of RM2.5bil or 39.8 sen per share from the disposal.\u003Cbr />  \u003Cbr />“This represents upside of 221% to our FY2016-2019 net profit estimates for IOI Corp. Post the disposal, it will cease to consolidate earnings from Loders and only book in 30% of Loders earnings as associates. However, the lower earnings contribution from Loderswill be mostly offset by interest savings from repayment of debts and potential synergies following the sale. \u003Cbr />\u003Cbr />“We estimate the potential dilution impact on earnings from the sale to be around 2%,” CIMB adds. \u003Cbr />\u003Cbr />The research unit is also maintaining its earnings per share estimates for IOI Corp pending the completion of the disposal. “However, we are raising our SOP value to input the higher market valuations for Loders and reducing the valuations for its other downstream assets (refining and oleochemicals) to 1.8 times P/BV. \u003Cbr />\u003Cbr />CIMB is maintaining a “hold” on IOI as “we see share price support from its rich assets and share buy back exercise. The key upside or downside risks are higher or lower crude palm oil and the output.”\u003C/p>",{"id":10,"name":11},[2879],{"id":14,"name":15},{"name":2881,"file_name":2881,"url":2882},"ioi_bunge.png","https://www.ioigroup.com/storage/597/ioi_bunge.png","2025-05-02T09:52:49.000000Z",[],{"meta_title":2874,"meta_description":2886,"meta_keywords":28},"Vital role: Lee says IOI will continue to play a vital role in Loders post-transaction given its expertise in palm oil sourcing andbusiness experience...",{"id":2888,"title":2889,"date":2890,"body":2891,"source":2892,"type":2893,"image":2895,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2898,"created_at":2898,"content_type":24,"related_news":2899,"metatag":2900},737,"IOI Group’s Tan Sri Lee Shin Cheng is bullish on palm oil’s propects","2017-05-18T00:00:00.000000Z","\u003Cdiv>\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/841_1.jpg\" alt=\"\" />\u003C/div>\u003Cdiv>IOI Group’s executive chairman Tan Sri Lee Shin Cheng — LOW BOON TAT/The Star\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>IOI Group’s executive chairman Tan Sri Lee Shin Cheng talks about his personal journey as an industry veteran and shares some insight into the palm oil sector.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>HE calls the oil palm trees his “girlfriends”, bought over the company that had earlier rejected his job application and knows the plantation business inside out.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>IOI Group’s executive chairman Tan Sri Lee Shin Cheng walks with a vigour that belies his 78 years of age. But he has certainly trekked an arduous path to reach where he is today. Lee is known for his sharp business acumen, and as a hands-on industry leader who practically works seven days a week.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Lee grew up in a rubber estate in Jeram, Kuala Selangor, where his late father ran a small sundry shop.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>At 11, he stopped schooling to help supplement his family income by selling ice cream from a heavy, metal box perched at the back of an adult’s bicycle.When it rained, the paths would get so muddy, welding his bicycle wheels to the ground.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Unable to pedal on, the pint-sized Lee would support the ice-cream box with his shoulders till help came along. Guarding his ice-cream was a priority for it’s a precious day’s earnings. It was such tough situations that moulded and honed Lee’s strengths and pioneering spirit.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Lee eventually went back to school, realising that the only way out of the cycle of hardship was through education.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/841_2.jpg\" alt=\"\" />\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Estate workers at a nursery nurturing high-yielding clones to boost productivity.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Today, Lee is an established business leader and industry veteran. In 2015, he was conferred the Palm Oil Industry Leadership Award (Pila) by the Malaysian Palm Oil Council.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Lee shared his personal journey and insights on the palm oil industry with The Star.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Tan Sri, you have come a long way in the industry, starting from being a field supervisor over 50 years ago, to becoming an estate manager, to being founder and executive chairman of IOI Group. How would you describe your journey so far?\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>I have been involved in the oil palm plantation industry for about 56 years. I started my career in the plantation as a field supervisor on Jan 1, 1961. Oil palm is something very close to my heart and also my first love because I feel that it is something very sustainable and versatile, as well as very useful to mankind. It can be used for so many purposes; both edible and non-edible. More importantly, this industry has helped planters to become entrepreneurs and thousands of smallholders have become middle-class earners.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>IOI is a local plantation company which started its business in 1982. Within a short span of less than 30 years, IOI Group has transformed into one of the world’s leading palm oil players with operations in seven countries. We have steadily moved up the palm oil value chain over the years and I can tell you now that IOI is the most fully integrated plantation company in the world.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>When you applied for a job at Dunlop Estate in the early 1960s, they rejected your application. But in 1989, you acquired the company. Looking back, what were the learning points from that experience?\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>I attended Chinese school, so I picked up my English here and there. After reaching Senior Middle Three (equivalent to Form Five), I applied for a job in an English-based plantation company (Dunlop Estates). At that time, most of the plantation companies were managed by orang putih. I went for an interview but was rejected due to my poor English, even though I could answer almost all their questions on plantations. I was very disappointed but I decided to work harder and not give up.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>I then found a field supervisor job at another smaller plantation company. I learnt everything I could and gave my best at work. I rose through the ranks and worked all the way to become a full-fledged estate manager. As a manager, I picked up even more skills from planning planting schedules, estate management and even construction, since I was responsible for building the estate’s labourers’ quarters. All these experiences and skills contributed to my success in the later years.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/841_3.jpg\" alt=\"\" />\u003Cdiv>Soap noodles, a palm-based derivative, produced by IOI Oleochemical is highly sought-after globally due to its versatility in the production of various soap-based products — Photos: IOI\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Subsequently, when I made enough money, I acquired Dunlop Estates. The acquisition of Dunlop Estates was one of the significant achievements in my life. I remember some analysts came to see me and ask why was I buying a plantation company, considered a sunset industry then. I said that I see its potential and replied that, “Today sunset, tomorrow sunrise.”\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>From these experiences, I learnt that education is very important in one’s life; hence I put a lot of focus on our national educational developments as one of IOI’s CSR initiatives. Besides that, determination is also very important. We should never give up on our dreams. If we work hard enough, we will achieve our dream or goal one day.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>I read in an article that you talk to the oil palm trees in the plantations. Why do you do that?\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Ahhh, yes, my trees are my “girlfriends” and each of them has their own characteristics. When I visit my estates, I will talk to them to encourage them to bloom and bear more fruits. Now, I don’t talk to them but I whisper to them!\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>This is the 100th year of the palm oil industry in Malaysia. In your opinion, what are the three milestones of the industry?\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Today, the palm oil sector is one of the few areas that Malaysia can truly claim to be a global leader. Some of the Malaysian palm oil companies are recognised as world-class players in the multi-billion global oils and fats industry.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>When I first started out in the plantation sector in 1961, oil palm was a secondary crop, far behind rubber in its scale and revenue contribution to the country.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>In the 1970s and 80s, it surpassed rubber to become the most important commodity crop for Malaysia. For many years in the 1980s and 1990s, Malaysia was the largest palm oil producer in the world. I recall that during the 1997/98 Asian economic crisis, palm oil was the second largest foreign exchange earner for Malaysia and helped the country to recover quickly from the crisis.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Palm oil’s success as a crop and commodity product cannot be disputed. To me, an equally significant development is the evolvement of the palm oil commodity sector into a multi-faceted industry with products encompassing many sectors such as food ingredients, personal care, detergents, plastics, energy and health care. Its byproducts, namely, the EFB (empty fruit bunches) fibres, kernel shells and effluent are spawning a whole range of uses covering fuel, paper pulp, furniture and electricity.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>In celebration of 100 years of palm oil in Malaysia, what is your message to readers?\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>I am very optimistic about the future of palm oil. It will be good for the next 100 years because palm oil is environmentally-friendly, sustainable and very versatile, both for industry uses as well as being an edible source.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>\u003Cdiv>Today, in spite of my age, I am still working as hard as I was 56 years ago in trying to increase the potential of oil palm yield, widen the geographical spread of palm oil products in the world and push the boundaries where palm oil can be applied and used. Increasing the productivity of the palm oil industry is very important at the moment. The industry now produces four tonnes of CPO (crude palm oil) per hectare per annum in Malaysia. Actually, our planting materials are capable of producing eight tonnes of CPO per hectare per annum, if we have enough workers to do the job, as well as good management teams, which is also something lacking in the industry now.\u003C/div>\u003Cdiv>\u003Cbr />\u003C/div>",{"id":10,"name":11},[2894],{"id":14,"name":15},{"name":2896,"file_name":2896,"url":2897},"841_1.jpg","https://www.ioigroup.com/storage/594/841_1.jpg","2025-05-02T09:52:47.000000Z",[],{"meta_title":2889,"meta_description":2901,"meta_keywords":28},"IOI Group’s executive chairman Tan Sri Lee Shin Cheng — LOW BOON TAT/The StarIOI Group’s executive chairman Tan Sri Lee Shin Cheng talks about his per...",{"id":2903,"title":2904,"date":2890,"body":2905,"source":2906,"type":2907,"image":2909,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2912,"created_at":2912,"content_type":24,"related_news":2913,"metatag":2914},738,"IOI Corporation Bhd is one of the most fully integrated plantation companies in the world","\u003Cp>\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/plant1.png\" alt=\"\" />\u003Cem>\u003Cbr />Malaysian Palm Oil Council (MPOC) chairman Datuk Lee Yeow Chor, who  is also IOI Groups chief executive officer — ART CHEN/The Star \u003C/em>\u003Cbr />\u003C/p>\u003Cp>\u003Cstrong>IOI Corporation Bhd has emerged as one of the most fully-integrated plantation companies in the world.  \u003C/strong>\u003Cbr />\u003C/p>\u003Cp>DESPITE  its relatively short history in the palm oil industry, IOI Corporation  Berhad is now one of the leading palm oil players in the world. \u003Cbr />\u003C/p>\u003Cp>Its  palm oil business involves the cultivation of oil palm and processing  of palm oil. It has operations across the value chain, from upstream  activities of seed breeding, planting and crop oil extraction to the  downstream resource-based manufacturing activities. \u003Cbr />\u003Cbr />In terms of  production, it churns out about 800,000 tonnes of crude palm oil (CPO) a  year, which represents almost 4% of the country’s total production. On  the processing side, the company, which also uses CPO from other  sources, produces about 2.6 million tonnes of palm oil a year,  contributing to about 18% of the country’s total output. \u003Cbr />\u003Cbr />“We  started from nothing in the early 1980s to become one of the largest  producers of palm oil in the country. Many major plantation companies in  Malaysia today have a very long history, some over 100 years, which  includes their history in rubber plantation.  \u003Cbr />\u003C/p>\u003Cp>“Today, we are  the second most valuable plantation company in Malaysia and the largest  non-government linked plantation company,” said IOI Corporation Bhd’s  CEO Datuk Lee Yeow Chor, sharing his company’s achievements. “Besides  that, we have always emphasised efficiency. We are also heartened by the  fact that many investment analysts have recognised us as one of the  most efficient oil palm plantation companies in Malaysia. This means we  have a much higher than industry average oil yield and a relatively low  cost of production,” he added. \u003Cbr />\u003C/p>\u003Cp>Another significant  achievement, said Lee, is that IOI Corporation Berhad has positioned  itself as a well-integrated palm oil company with substantial downstream  business, which also includes fairly globalised operations with  presence in Europe, United States and Asia. \u003C/p>\u003Cp>\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/plant2.png\" alt=\"\" /> \u003Cbr />\u003Cem>Robotic automation system implemented at an IOI factory increases  production efficiency and cuts down on labour needs — IOI Group\u003C/em>\u003C/p>\u003Cp>However, the plantation business is not without its share of challenges.  \u003Cbr />\u003C/p>\u003Cp>The  first, faced by the industry as a whole, is stagnant yield due to  adverse weather conditions. These include dry spells, the El Nino  effect, and fluctuations between very dry and very wet weather which  affect production.  \u003Cbr />\u003Cbr />The second challenge is the shortage of foreign workers in a labour-intensive industry.  \u003Cbr />\u003Cbr />“These two factors have affected the production yield in the industry for the past 15 years,” said Lee. \u003Cbr />\u003Cbr />IOI  Corporation also faces another challenge when it comes to expanding  their planted areas due to the need for compliance with both national  environment regulations and their own, more stringent sustainability  policies and commitment.  \u003Cbr />\u003Cbr />“These regulations and procedures that  we have to adhere to are putting constraints on our expansion,  especially in countries outside Malaysia,” he said. \u003Cbr />Lee went on to share some of the company’s business plans and direction that address some of these issues. \u003Cbr />\u003Cbr />“Firstly,  recognising that the palm oil plantation business is a very  labour-intensive industry, an important plan is to formulate and  implement labour-saving initiatives in our plantations.  \u003Cbr />\u003Cbr />“We  have to do this through mechanisation and also be innovative in the way  we approach our estate practices. We have to think of new ways to do the  things we used to do,” he emphasised. \u003Cbr />\u003Cbr />Another direction the  company is taking is strengthening their sustainability credentials due  to their presence in Europe and the US, in order for them to become a  preferred supplier to many multinational companies, particularly in  those regions. \u003Cbr />\u003Cbr />Going forward, to fulfill its requirement for  growth, the company also plans to expand their downstream operations  beyond developed countries into less developed nations like South  America and India.  \u003Cbr />\u003Cbr />However, the risks of doing business in those countries are also very high.  \u003Cbr />\u003Cbr />“One  plan is to explore partnerships with similar industry players, either  MNCs or large regional players, which already have presence in those  countries,” he said. \u003Cbr />\u003Cbr />\u003Cstrong>Sustainable industry \u003C/strong>\u003Cbr />\u003C/p>\u003Cp>In  2004, IOI became one of the founding members of the Roundtable on  Sustainable Palm Oil (RSPO), a global organisation established to  promote the growth and use of certified sustainable palm oil.  \u003Cbr />\u003Cbr />IOI achieved full RSPO certification for all its existing plantations and mills in Peninsular Malaysia and Sabah in 2013. \u003Cbr />\u003Cbr />At  IOI, its main platform for sustainability can be encapsulated in four  letters – NDPE – which stands for No Deforestation, No Peat, and No  Exploitation. \u003Cbr />\u003C/p>\u003Cp>“We have built our sustainability policies  based on these three planks. By No Exploitation, we mean no exploitation  of communities where our operations are and also no exploitation of our  workers,” said Lee. \u003Cbr />\u003Cbr />“Today, all our Malaysian plantations are  RSPO-certified but more than that, we have to comply with even more  stringent standards that our company has adopted along the lines of the  NDPE,” he added. \u003Cbr />\u003Cbr />In addition, in order to be the leading  sustainability player in the field, Lee said it’s not enough to just  make sure the company complies with the policies within their own  operations.  \u003Cbr />\u003Cbr />“Some NGOs also ask us to ensure that the supply  chain in our operations are in compliance with all our policies. That  means our hundreds of direct and indirect suppliers also have to comply  with our policies. So, there is a lot of monitoring and persuasion in  order to achieve that,” he said. \u003Cbr />\u003Cbr />In respect of protecting peat  and preventing fires, the company also looks beyond its own planting or  concession areas, and is required to adopt the landscape approach where  they have to take into consideration the surrounding land, making sure  no fires occur there.  \u003Cbr />\u003Cbr />In addition, it also engages with  surrounding communities to make sure they understand the importance of  not draining the peat and not using fire as a method to clear their  land. \u003Cbr />\u003Cbr />“The idea is we have to extend our sphere of influence and  education to the external areas and work well with others so  altogether, the entire area of the district we are operating in is free  from the threats of fire or drainage of water from the peat,” said Lee. \u003Cbr />\u003C/p>\u003Cp>When  it comes to workers’ welfare, it is a tradition of plantation companies  to provide facilities like clinics, schools, community centres, sports  facilities and free housing for its many workers. \u003Cbr />\u003C/p>\u003Cp>Today, Lee  said the criteria for workers’ welfare has expanded. In accordance to  the interpretation by certain NGOs of No Exploitation, they also look  into areas of human rights and trafficking in labour. \u003Cbr />\u003Cbr />“So today,  we have to extend our efforts to ensure that our workers are not only  treated well when they come to Malaysia; we have to start from their  home countries. \u003Cbr />\u003C/p>\u003Cp>He said: “For example, we have to ensure they  do not need to pay recruitment fees to the agents to ensure they don’t  land in financial hardship or borrow money from the agents, especially  those who charge high interests. The concern about workers’ welfare  today has been extended to wider scopes.” \u003Cbr />\u003C/p>",{"id":10,"name":11},[2908],{"id":14,"name":15},{"name":2910,"file_name":2910,"url":2911},"plant1.png","https://www.ioigroup.com/storage/595/plant1.png","2025-05-02T09:52:48.000000Z",[],{"meta_title":2904,"meta_description":2915,"meta_keywords":28},"Malaysian Palm Oil Council (MPOC) chairman Datuk Lee Yeow Chor, who is also IOI Groups chief executive officer — ART CHEN/The Star IOI Corporation Bhd...",{"id":2917,"title":2918,"date":2890,"body":2919,"source":2920,"type":2921,"image":2923,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2883,"created_at":2883,"content_type":24,"related_news":2926,"metatag":2927},739,"A council with clout","\u003Cbr />\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/pic1.jpg\" />\u003Cbr />\u003Cem>The most widely consumed vegetable oil in the world, palm oil constitutes up to 80 of our daily fat consumption — Photos: MPOC\u003C/em>\u003Cbr />\u003Cbr />\u003Cstrong>The Malaysian Palm Oil Council has played a key role in promoting the palm oil industry in Malaysia.  \u003C/strong>\u003Cbr />\u003Cbr />FROM cookies and ice-cream to instant noodles, about half of all packaged products sold in the supermarkets contain palm oil. \u003Cbr />\u003Cbr />In fact, it is the most widely consumed vegetable oil in the world as palm oil constitutes up to 80% of our daily fat consumption.  \u003Cbr />\u003Cbr />It is not without nutritional benefits; palm oil is a natural source of carotenoids and vitamin E, and provides our body with fatty acids and other important fat-soluble micronutrients as well as calories needed for our daily activities. \u003Cbr />\u003Cbr />Malaysia is one of the key producers of palm oil in the world. Currently, it accounts for 29.4% of the world’s palm oil production and 36.7% of world exports. (Source: Oil World, March 2017.) \u003Cbr />\u003Cbr />Last year, the palm oil industry contributed RM38.5bil (3.84%) to the country’s total Gross Domestic Product (GDP, at constant 2010 prices). \u003Cbr />\u003Cbr />\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/pic2.jpg\" />\u003Cbr />\u003Cem>The total land area in Malaysia utilised to grow oil palm is 5.74 million hectares.\u003C/em>\u003Cbr />\u003Cbr />The country’s palm oil reaches over 150 countries and in 2016, the European Union imported 29.4% of its palm oil from Malaysia. \u003Cbr />\u003Cbr />The total land area in Malaysia utilised to grow oil palm is 5.74 million hectares, with 3.06 million hectares in Sabah and Sarawak, and 2.68 million hectares in Peninsular Malaysia. In terms of production, the country produced 17.3 million tonnes of palm oil and 1.96 million tonnes of palm kernel oil last year. (Source: Malaysian Palm Oil Board [MPOB], 2017.) \u003Cbr />\u003Cbr />According to MPOB, as of April 2017, the number of people directly employed in the palm oil industry stood at 440,262 (exclusive of 280,977 independent smallholders). In terms of livelihood, the Council of Palm Oil Producing Countries estimates that the industry supports about four million people. \u003Cbr />\u003Cbr />The Malaysian Palm Oil Council (MPOC) is a crucial engine that drives the Malaysian palm oil industry.  \u003Cbr />\u003Cbr />Its history dates back to 1990 and the council’s role is to “promote the market expansion of Malaysian palm oil and its products by enhancing the image of palm oil and creating better acceptance of palm oil through awareness of various technological and economic advantages and environmental sustainability.” \u003Cbr />\u003Cbr />In a recent interview, MPOC chairman Datuk Lee Yeow Chor shared his views on the challenges facing the palm oil industry and the way forward: \u003Cbr />\u003Cbr />\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/pic3.jpg\" />\u003Cbr />\u003Cem>Malaysian Palm Oil Council (MPOC) chairman Datuk Lee Yeow Chor  \u003C/em>\u003Cbr />\u003Cbr />\u003Cstrong>With this year marking 100 years of the Malaysian palm oil industry, what are three milestones that we have achieved? \u003C/strong>\u003Cbr />\u003Cbr />The Malaysian palm oil industry is one of the most important segments of GDP and it is also one of the top foreign exchange earners for the country. So that’s the first milestone. Secondly, it has been a very effective tool for lifting up the rural economy and, in association with that, eradicating poverty. Thirdly, the palm oil industry has put Malaysia on the world map in terms of it being the leading producer of vegetable oil.  \u003Cbr />\u003Cbr />\u003Cstrong>What are your views of the ongoing anti-palm oil lobby from abroad? \u003C/strong>\u003Cbr />\u003Cbr />From the MPOC’s point of view, we do not mind fact-based and balanced discussions. However, we often see that the way that the NGOs stir up campaigns is through manipulation of data and they propagate very extreme measures like having a moratorium or banning the use of palm oil altogether. That, we feel, is not the right approach and we would like to engage with them and discuss practical solutions based on science and facts. \u003Cbr />\u003Cbr />If we look at the global point of view, world population is increasing. Today, palm oil is the largest produced vegetable oil in the world. So palm oil will have to be featured and cannot be taken out of the vegetable oil market altogether, (contrary to) what some NGOs are advocating. It’s a fact that it has to be here to fulfil the world’s need for vegetable oil. \u003Cbr />\u003Cbr />So, what is the best way going forward to satisfy the increasing appetite for vegetable oil? For MPOC, we advocate that palm oil should be one of the main solutions simply because palm oil is the most efficient oil crop in the world right now, by a magnitude of six to eight times that of other oilseed crops in terms of the land usage per hectare. \u003Cbr />\u003Cbr />\u003Cbr />\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/pic4.jpg\" />\u003Cbr />\u003Cem>According to the Malaysian Palm Oil Board, as of April 2017, the number of people directly employed in the palm oil industry stood at 440,262 — MPOC\u003C/em>\u003Cbr />\u003Cbr />\u003Cstrong>What are some of the current measures taken by MPOC to promote market expansion of Malaysian palm oil and its products? \u003C/strong>\u003Cbr />\u003Cbr />For market expansion, the main tool we use is through techno-economic seminars which we hold in various countries. When we want to open up new markets, we typically hold these seminars there to educate users about the technological advantages of palm oil. We also talk about the economic benefits of palm oil, mainly price competitiveness and also market price trends of palm oil. These give processors, users and traders in the country a very good picture about palm oil. In these seminars, we also bring together all the important components of cross-border palm oil trade. We put together the players, starting with the traders, processors, shippers and even bankers, and this enables the market to be opened up in the particular country, especially new countries. \u003Cbr />\u003Cbr />For existing markets, we also have to defend our share, and sometimes we have to counter attempts to impose non-tariff barriers against palm oil. So we have to advocate by approaching legislators and government decision-makers to make sure they don’t impose discriminatory non-tariff barriers on the import of palm oil into their countries. In addition, we also hold seminars with scientists who will talk about the nutritional benefits of palm oil to dispel any negative false news about its nutritional attributes. \u003Cbr />\u003Cbr />\u003Cstrong>What are the three key challenges faced by the palm oil industry today? \u003C/strong>\u003Cbr />\u003Cbr />On the plantation side, the perennial problem is a lack of workers, and we need a lot of workers. Over the years, this problem has gone from bad to worse. We need workers from other countries, but due to the development of plantations in these foreign countries, workers are reluctant to come over to Malaysia to work. So this is the most important challenge facing the oil palm plantation sector. Of course, we have to expand our source countries but it is still a challenge due to various restrictions. \u003Cbr />\u003Cbr />Due to increasing concerns for the environment and sustainability, the second challenge is to tackle consumer perception about palm oil in terms of health and environmental issues. We have to deal with anti-palm oil campaigns and misconstrued campaigns based on false facts because consumer perceptions will influence retailers and food companies who buy palm oil. \u003Cbr />\u003Cbr />The third challenge is related to governments and legislators in other countries. Due to these misconceived allegations against palm oil, they attempt to impose discriminatory non-tariff barriers such as up to 400% higher tax on palm oil versus other oils. Some of them are also proposing a quota in favour of their domestic seed producers. \u003Cbr />\u003Cbr />\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/pic5.png\" />\u003Cbr />\u003Cbr />\u003Cstrong>What is MPOC’s role in addressing these challenges? \u003C/strong>\u003Cbr />\u003Cbr />For shortage of workers, the most direct solution is to reduce the use of workers. We have to look into more ways to automate some of the processes. Looking at the past 20 years, we have managed to reduce the use of workers by around 15% in plantations.  \u003Cbr />\u003Cbr />But going forward, of course, there is still scope for reduction of labour, but that scope will probably be less because some of the processes are difficult to be replaced by machines. For example, harvesting is still a skilled job and has to rely on labour.  \u003Cbr />\u003Cbr />Tackling consumer perception is something we have to spend a lot of time on. First, we have to have very good research of our own to build up our knowledge on the health aspects of palm oil, and the planting of palm oil and to what extent it affects the environment, deforestation or peat lands. We have to build our own solid data to counter some of the quick research done by NGOs. We find much of the data quoted by NGOs is based on quite shallow, desktop-style research, which doesn’t really give the full picture. Based on our ground research, we have to learn how to be good communicators by using various media, especially social media, to spread the correct message about palm oil. \u003Cbr />\u003Cbr />The third challenge is non-tariff barriers imposed by foreign governments and legislators.  \u003Cbr />\u003Cbr />MPOC and the relevant government officials have to do a lot of lobbying with the foreign government officials and legislators so they understand the true situation of palm oil, and refrain from imposing discriminatory measures against it.  \u003Cbr />\u003Cbr />The Malaysian palm oil industry has done well to be propelled to where it is today as one of the foremost producers of vegetable oils in the world.  \u003Cbr />\u003Cbr />Going forward, we should sustain our present position as far as plantation production is concerned. We should also develop more value-added uses for palm oil so that it becomes a more diversified industrial product, and not just a commodity product. That way, we can really increase the amount of revenue we can gain from each tonne of palm oil we produce in Malaysia. \u003Cbr />\u003Cbr />",{"id":10,"name":11},[2922],{"id":14,"name":15},{"name":2924,"file_name":2924,"url":2925},"pic1.jpg","https://www.ioigroup.com/storage/596/pic1.jpg",[],{"meta_title":2918,"meta_description":2928,"meta_keywords":28},"The most widely consumed vegetable oil in the world, palm oil constitutes up to 80 of our daily fat consumption — Photos: MPOCThe Malaysian Palm Oil C...",{"id":2930,"title":2931,"date":2932,"body":2933,"source":2934,"type":2935,"image":2937,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2898,"created_at":2898,"content_type":24,"related_news":2940,"metatag":2941},735,"IOI Corp's plantation profit nearly doubles","2017-05-17T00:00:00.000000Z","\u003Cfigure class=\"image align-center\">\u003Cimg src=\"https://www.ioigroup.com/Files/news/image/IOI-Lipid-Enzymtec-plant-in-Pasir-Gudang-2012.png\" width=\"620\" height=\"413\" alt=\"\" />\r\n\u003Cfigcaption>IOI Corp Bhd's Lipid Enzymtec plant in Pasir Gudang that began production in 2012.\u003C/figcaption>\r\n\u003C/figure>\r\n\u003Cp>PETALING JAYA: IOI Corp Bhd said profits from its plantation division almost doubled in the third quarter ended March 31 on the higher price of crude palm oil (CPO), but the group’s overall results were affected by lower sales and a thinner margin derived from its oleochemical and refining units. \u003Cbr />\u003Cbr />The group said its performance was also affected by the smaller net foreign exchange (forex) translation gains on its overseas borrowings and lower fair-value gains on its derivative financial instruments from the group’s resource-based manufacturing segment. \u003Cbr />\u003Cbr />IOI Corp, in a filing with Bursa Malaysia on Tuesday, said its net profit for the quarter fell 58.1% to RM305.3mil, although revenue increased 21.2% to RM3.5bil. \u003Cbr />\u003Cbr />Excluding the forex gains, the group said its underlying profit before tax (PBT) of RM246.3mil for the quarter was 12% higher year-on-year (y-o-y). \u003Cbr />\u003Cbr />The higher underlying PBT, it said, was mainly due to the higher contribution from the plantation segment. \u003Cbr />\u003Cbr />\u003C/p>",{"id":10,"name":11},[2936],{"id":14,"name":15},{"name":2938,"file_name":2938,"url":2939},"ioi_lipid_enzymtec_plant_in_pasir_gudang_2012.png","https://www.ioigroup.com/storage/593/ioi_lipid_enzymtec_plant_in_pasir_gudang_2012.png",[],{"meta_title":2931,"meta_description":2942,"meta_keywords":28},"IOI Corp Bhd's Lipid Enzymtec plant in Pasir Gudang that began production in 2012. PETALING JAYA: IOI Corp Bhd said profits from its plantation divisi...",{"id":2944,"title":2945,"date":2946,"body":2947,"source":2948,"type":2951,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2953,"created_at":2953,"content_type":24,"related_news":2954,"metatag":2955},734,"Palm oil giant IOI moves to eliminate deforestation and human rights abuses from supply chain","2017-04-28T00:00:00.000000Z","\u003Cp id=\"null\">Jakarta, 28 April 2017 - The IOI Group, one of the world’s largest palm oil traders, today made a significant commitment to address deforestation and exploitation throughout its supply chain. [1] Greenpeace has suspended its active campaign to give IOI time to show it is serious about reform.  \u003Cbr />\u003Cbr />Today’s announcement comes one year after the Malaysian company was suspended from the Roundtable on Sustainable Palm Oil (RSPO) for clearing peatlands in Kalimantan, Indonesia. [2] Dozens of companies including Unilever, Mars and Nestlé cancelled contracts with IOI as a result. [3] \u003Cbr />\u003Cbr />If properly implemented, IOI’s commitments would be a significant step towards eliminating deforestation and exploitation in the palm oil industry. IOI has agreed to independent third-party verification of its progress in one year’s time. \u003Cbr />\u003Cbr />Kiki Taufik, Global Head of Greenpeace's Indonesian Forests Campaign, said: \u003Cbr />\u003Cbr />“IOI has come a long way in the past twelve months, and has now started taking meaningful action to eliminate forest destruction and human rights abuses from its supply chain. Greenpeace will be watching closely to make sure IOI follows through. There is still a lot of work to be done to clean up the palm oil industry and we expect other traders to respond with action plans of their own.” \u003Cbr />\u003Cbr />Since January, IOI has begun proactively monitoring its palm oil suppliers to ensure they are not destroying rainforests or peatlands. It has agreed to work with NGOs to find a solution to the social conflict between the communities of Long Teran Kanan and the IOI-Pelita joint venture in Sarawak, Malaysia. [4] IOI also committed to change its practices to respect the rights of plantation workers and has commissioned a consultant to verify its progress on labour issues. \u003Cbr />\u003Cbr />Greenpeace advises companies intending to resume trade with IOI to specify in their contracts that the company must demonstrate ongoing progress in line with its Sustainable Palm Oil Policy and the additional commitments it has made today. \u003Cbr />\u003Cbr />Palm oil is the most widely-used vegetable oil in the world, but the industry has a well-deserved reputation for rainforest destruction and human rights abuses. [5] The major palm oil traders have ‘no deforestation’ policies, but have done little to ensure their suppliers meet these standards. [6] As a result, many household brands are still supplied by palm oil growers that destroy rainforests or exploit workers and local communities. [7] \u003Cbr />\u003Cbr />“Consumers have had enough of the palm oil industry failing to deliver. Companies cannot keep ignoring forest destruction and human rights abuses. The only way to clean up the industry is for other palm oil traders to follow IOI’s lead and start cutting off suppliers that destroy rainforests or abuse workers.” said Taufik. \u003Cbr />\u003Cbr />Over the past ten years, dozens of civil society organisations have been pushing IOI to reform. [8] A complaint from NGO AidEnvironment led to the company being suspended from the RSPO in April 2016. Hundreds of thousands of Greenpeace supporters took part in the campaign, which included a blockade of IOI’s palm oil refinery in Rotterdam and a protest at its headquarters in Kuala Lumpur, Malaysia. [9] \u003Cbr />\u003Cbr />Greenpeace is calling on other palm oil traders, such as Wilmar International and Golden Agri Resources, to publish similar plans to identify suppliers that are clearing forests, draining peatlands or exploiting workers and exclude those that won’t reform. \u003Cbr />\u003Cbr />Companies that buy palm oil should require their suppliers to demonstrate how they will ensure deforestation and other unacceptable practices are eliminated from their supply chain. \u003Cbr />\u003Cbr />\u003C/p>Notes to Editors \u003Cbr />\u003Cbr />Images available \u003Ca href=\"http://media.greenpeace.org/collection/27MZIFJJQ3TUX?_ga=1.105187203.1466211131.1493342515\" target=\"_blank\">here\u003C/a>\u003Cbr />\u003Cbr />1. IOI’s statement is available \u003Ca href=\"http://www.ioigroup.com/Content/NEWS/NewsroomDetails?intNewsID=837\" target=\"_blank\">here\u003C/a> \u003Cbr />2. In March 2015, NGO AidEnvironment submitted a formal complaint to the Roundtable on Sustainable Palm Oil (RSPO) regarding the destruction of High Conservation Value forests and peatlands in IOI’s plantations in Kalimantan, Indonesia. The RSPO suspended IOI in April 2016, although it lifted the suspension in August 2016. AidEnvironment and IOI published a joint statement in December 2016 declaring the case resolved. \u003Cbr />3. See, for instance, \u003Ca href=\"http://www.foodnavigator.com/Market-Trends/Major-brands-dump-palm-oil-supplier-IOI-following-RSPO-suspension\" target=\"_blank\">here\u003C/a>. \u003Cbr />4. \u003Ca href=\"http://www.rspo.org/members/complaints/status-of-complaints/view/4\" target=\"_blank\">http://www.rspo.org/members/complaints/status-of-complaints/view/4\u003C/a> \u003Cbr />5. \u003Ca href=\"http://www.greenpeace.org/international/en/publications/Campaign-reports/Forests-Reports/Under-Fire/\" target=\"_blank\">http://www.greenpeace.org/international/en/publications/Campaign-reports/Forests-Reports/Under-Fire/\u003C/a> \u003Cbr />6. \u003Ca href=\"http://www.greenpeace.org/international/en/publications/Campaign-reports/Forests-Reports/A-Deadly-Trade-off/ \" target=\"_blank\">http://www.greenpeace.org/international/en/publications/Campaign-reports/Forests-Reports/A-Deadly-Trade-off/ \u003C/a>\u003Cbr />7. In November 2016, \u003Ca href=\"https://www.amnesty.org/en/latest/news/2016/11/palm-oil-global-brands-profiting-from-child-and-forced-labour/\" target=\"_blank\">an investigation by Amnesty International found human rights abuses\u003C/a>, including child labour, in plantations controlled by Wilmar International, the world’s largest palm oil trader. \u003Cbr />8. For example, 26 Indonesian and international NGOs signed an \u003Ca href=\"http://www.greenpeace.org/seasia/Global/seasia/CoalitionLtr_DropIOI.pdf\" target=\"_blank\">open letter about IOI in May 2016\u003C/a>.  \u003Cbr />9. \u003Ca href=\"http://www.greenpeace.org/international/en/press/releases/2016/Greenpeace-blockades-palm-oil-trader-IOI-in-Rotterdam-/\" target=\"_blank\">http://www.greenpeace.org/international/en/press/releases/2016/Greenpeace-blockades-palm-oil-trader-IOI-in-Rotterdam-/\u003C/a>\u003Cbr />\u003Cbr />Media Contacts: \u003Cbr />\u003Cbr />Kiki Taufik, Global Head of Indonesian Forest Campaign, ph:+628118706074 \u003Cbr />\u003Cbr />Annisa Rahmawati, Senior Forest Campaigner, Greenpeace Southeast Asia, ph:+628111097527 \u003Cbr />\u003Cbr />Sol Gosetti, International Communication for Indonesian Forest Campaign, Greenpeace Southeast Asia, ph +447807352020 \u003Cbr />\u003Cbr />Greenpeace International Press Desk, pressdesk.int@greenpeace.org, phone: +31 (0) 20 718 2470 (available 24 hours)\u003Cp id=\"null\">\u003Cbr />\u003C/p>\u003Cp id=\"null\">\u003Cbr />\u003C/p>",{"id":2949,"name":2950},78,"Greenpeace",[2952],{"id":14,"name":15},"2025-05-02T09:52:46.000000Z",[],{"meta_title":2945,"meta_description":2956,"meta_keywords":28},"Jakarta, 28 April 2017 - The IOI Group, one of the world’s largest palm oil traders, today made a significant commitment to address deforestation and...",{"id":2958,"title":2959,"date":2960,"body":2961,"source":2962,"type":2963,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2953,"created_at":2953,"content_type":24,"related_news":2965,"metatag":2966},733,"Buy pre-loved and make somebody's day","2017-04-06T00:00:00.000000Z","\u003Cdiv class=\"pw-hidden-cp\">\r\n\u003Cdiv class=\"pw-hidden-cp\">\r\n\u003Cp>\u003C/p>\r\n\u003Cem>(From right) Wong, Nurkhalish and Kogilavani (Khogie) packing travel-sized beauty items into little gift packs that are sold at about RM10 per set.\u003Cbr />\u003C/em>\u003Cbr />\u003Cbr />NURKHALISH Afina Ariffin recalls the positive feeling she felt after successfully helping a young man put together a suitable outfit for a job interview, using items donated to Bargain Basement. \u003Cbr />\u003Cbr />“It has given a greater purpose to my job and motivates me to build relationships with the people I interact with. \u003Cbr />\u003Cbr />“I have personally bought some clothing and shoes, and even helped family and friends get wedding gifts from the store,” said the 23-year-old who enjoys helping customers put together fashionable outfits and shopping for good bargains. \u003Cbr />\u003Cbr />Khalish, as she is better known, first joined Bargain Basement as a part-time employee before being offered a permanent job as store supervisor. \u003Cbr />\u003Cbr />The chemistry graduate said her stint has changed her perception of second-hand items and given her a better understanding of how charity homes work. \u003Cbr />\u003Cbr />Bargain Basement is an initiative under IOI Group’s Foundation, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng). \u003Cbr />\u003Cbr />The charity retail outlet located in IOI City Mall takes in pre-loved, unused or excess goods donated by well-wishers that are then sold at affordable prices. The nett proceeds are channelled to different charities. \u003Cbr />\u003Cbr />\u003C/div>\r\n\u003C/div>\r\n\u003Cdiv class=\"pw-hidden-cp\">\u003Cbr />\r\n\u003Cdiv class=\"inline-caption\">\u003Cem>Great bargains and fashionable finds such as shoes and accessories are available for budget-conscious consumers.\u003C/em>\u003C/div>\r\n\u003C/div>\r\n\u003Cp>\u003Cbr />Bargain Basement welcomes clean and usable items such as children and adult clothing, shoes, bags, jewellery and other accessories, household products such as utensils, dishes and containers, ornamental or decorative items, books, toys, sports gear and electrical appliances. \u003Cbr />\u003Cbr />The cheapest item is priced at no less than RM5. There is also a section for marked down designer goods. \u003Cbr />\u003Cbr />Bargain Basement founder Datin Joanne Wong said the initiative benefits both donors and recipients, as well as creates positive social, environmental and sustainable impacts. \u003Cbr />\u003Cbr />“It removes clutter at home, reduces items that are sent to landfills, offers quality products at a low price for budget-conscious consumers and supports local charities. \u003Cbr />\u003Cbr />“As of December last year, Bargain Basement has given out RM50,000 to five children’s homes in the Klang Valley,” she said. \u003C/p>\r\n\u003Cdiv class=\"pw-hidden-cp\">\u003Cbr />\r\n\u003Cdiv class=\"inline-caption\">\u003Cem>Some of the plush toys available at Bargain Basement.\u003C/em>\u003C/div>\r\n\u003C/div>\r\n\u003Cp>\u003Cbr />Since its opening in June 2016, Wong said the store’s customer base has expanded to include fashion-conscious young women looking for great bargains. \u003Cbr />\u003Cbr />“People are also donating a wider variety of items that are still in good condition. \u003Cbr />\u003Cbr />“We have also had some improvements in terms of staffing, as we get trustworthy people who are willing to work long hours,” she said, adding that Bargain Basement also receives support from the mall, contractor and related agencies. \u003Cbr />\u003Cbr />“Bargain Basement’s team is led by women, possibly because the roles are more suited for them. \u003Cbr />\u003Cbr />“The women I work with are more caring and patient, have a better understanding of consumer products and are more willing to be committed to social work.” \u003C/p>\r\n\u003Cdiv class=\"pw-hidden-cp\">\u003Cbr />\r\n\u003Cdiv class=\"inline-caption\">\u003Cem>A pair of Leica binoculars for sale.\u003C/em>\u003C/div>\r\n\u003C/div>\r\n\u003Cp>\u003Cbr />Administrative officer Kogilavani Mariappan said Bargain Basement is an example of the adage “one man’s trash is another man’s treasure”. \u003Cbr />\u003Cbr />“I am impressed at how the store has turned out. \u003Cbr />\u003Cbr />“It started with only a small inventory, but now it is running out of space to store donated items. \u003Cbr />\u003Cbr />“We also regularly get calls from people asking how they can send their items,” said the 36-year-old, better known as Khogie.\u003C/p>\r\n\u003Cdiv class=\"pw-hidden-cp\">\r\n\u003Cdiv class=\"inline-caption\">\u003Cem>Nurkhalish enjoys helping customers put together fashionable outfits from the clothes donated to Bargain Basement.\u003C/em>\u003C/div>\r\n\u003C/div>\r\n\u003Cp>\u003Cbr />The mother-of-two regularly buys clothing and toys for her two children at Bargain Basement. \u003Cbr />\u003Cbr />She also encourages family and friends to donate their pre-loved items there. \u003Cbr />\u003Cbr />Meanwhile, Wong said there are long-term plans to open more Bargain Basement stores to benefit more communities in other areas. \u003Cbr />\u003Cbr />“We want more people to champion our efforts and are looking for partners who want to contribute to the community. \u003C/p>\r\n\u003Cp>“We welcome passionate folks interested to do social work, or those running charity homes and need a regular source of income. \u003Cbr />\u003Cbr />\u003C/p>\r\n\u003Cdiv class=\"pw-hidden-cp\">\r\n\u003Cdiv class=\"inline-caption\">\u003Cem>Pre-loved items on sale at the shop include an antique typewriter.\u003C/em>\u003C/div>\r\n\u003C/div>\r\n\u003Cp>\u003Cbr />“Our team will provide support in terms of stock, legal aspects, renovation and training,” she said. \u003Cbr />\u003Cbr />Bargain Basement is located at B3-10, IOI City Mall, Putrajaya (same wing as Homepro). It is open daily from 10am to 10pm. \u003Cbr />\u003Cbr />It also has two drop-off points at Ground Floor reception, Tower 2, Puchong Financial Corporate Centre, Bandar Puteri Puchong and Amigo Clubhouse, 16 Sierra, Puchong South. For inquiries, call 03-8947 8888 ext 1128 (Khalish/ Khogie) or visit \u003Ca href=\"http://www.bargainbasement.com.my/\" target=\"_blank\" rel=\"noopener\">http://www.bargainbasement.com.my/\u003C/a>\u003C/p>\r\n\u003Cp>\u003C/p>",{"id":10,"name":11},[2964],{"id":14,"name":15},[],{"meta_title":2959,"meta_description":2967,"meta_keywords":28},"(From right) Wong, Nurkhalish and Kogilavani (Khogie) packing travel-sized beauty items into little gift packs that are sold at about RM10 per set.NUR...",{"id":2969,"title":2970,"date":2971,"body":2972,"source":2973,"type":2976,"image":2978,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2953,"created_at":2953,"content_type":24,"related_news":2981,"metatag":2982},732,"Fire Free Alliance Welcomes Malaysian Palm Oil Giants","2017-03-21T00:00:00.000000Z","\u003Cbr />\u003Cimg style=\"width: 800px; height: 532px;\" alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/FFVP-7.jpg\" />\u003Cp>Jakarta. The Fire Free Alliance, a voluntary multi-stakeholder platform to aid in the resolution of land and forest fires in Indonesia, has welcomed aboard Malaysian corporations Sime Darby and IOI Group, thus further extending the reach of their program across Indonesia and Malaysia.  \u003Cbr />\u003Cbr />FFA, which was launched on Feb. 29, 2016, involves leading forestry and agriculture companies and NGOs. Key corporations and business groups supporting the platform include Asia Pacific Resources International Holdings Limited, known as APRIL, which is a global pulp and paper company, and palm oil conglomerates Musim Mas group, Wilmar group and Asian Agri.  \u003Cbr />\u003Cbr />Among the founding members are also a Netherlands-based NGO, the Initiatief Duurzame Handel (IDH) and People's Movement to Stop Haze (PM.Haze), an advocacy organization that gather support of Singaporean citizens to help stop haze in Indonesia.  \u003Cbr />\u003Cbr />Announcement of the new corporate members, Sime Darby and IOI Group, which are conglomerations with plantation assets in Indonesia, was made during the so-called "Responsible Business Forum" held in Jakarta on Wednesday (15/03).  \u003Cbr />\u003Cbr />"The FFA was established to help members share knowledge and resources. It serves as a platform for members to help one another develop the most effective strategies to prevent and manage fire risks through long-term partnerships with communities across Indonesia and Malaysia," said Dorjee Sun, director of Carbon Conservation — FFA's secretariat.  \u003Cbr />\u003Cbr />FFA has enlisted more than 200 villages, covering at least 1.5 million hectares in various parts of Indonesia. The villages have been participating in community-based fire prevention initiatives.  \u003Cbr />\u003Cbr />FFA members have reported a decrease in fire incidents past year of between 50 percent and 90 percent, depending on the regions. The pioneer initiative in community-based fire prevention was APRIL's Fire-Free Village Program (FFVP) launched in 2015 in nine villages.  \u003Cbr />\u003Cbr />"APRIL recognizes the lead role that the Ministry of Environment and Forestry, the Coordinating Ministry of Economic Affairs as well provincial government has in fire prevention and fire management in Indonesia," forest protection manager at APRIL, Craig Tribolet, said in a joint statement by FFA members.  \u003Cbr />\u003Cbr />"We supported the establishment of the Fire Free Alliance because we believe that the forestry and agricultural sectors have a responsibility that extends beyond our concession boundaries and work in partnership with communities to reduce the impact of fires and smoke haze. The FFA provides a platform to help scale the FFVP and enable other companies and NGOs to collaborate and share best practice," he said.  \u003Cbr />\u003Cbr />\u003Cbr />\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/RGE_2262-1024x682.jpg\" />\u003Cbr />\u003Cbr />\u003Cem>Craig Tribolet, forest protection manager at APRIL, was explaining the company's community-focused prevention program to fight forest fire and haze. (Photo courtesy of RAPP).\u003C/em>\u003Cbr />\u003Cbr />"The issue of fire and haze is bigger than the industry. FFA's strength stems from its collective breadth of expertise and experience amongst members from different sectors in their work with the local communities in their surrounding areas. There is no one-size-fits-all solution when it comes to working with communities, but the candid sharing amongst committed and like-minded FFA members helps with identification and development of innovative solutions that could be adapted to each member’s respective operating landscapes," said Gurcharan Singh, Wilmar's plantation head for Indonesia.  \u003Cbr />\u003Cbr />"The Fire Free Alliance provides a strong and clear commitment by member companies towards preventing forest fires now and in the future," IDH's Tony Wood said.  \u003Cbr />\u003Cbr />Benjamin Tay, president of PM.Haze said that with the presence of palm oil giants Sime Darby and IOI Group, the FFA will see the impacts of its program widened, not just in the area of coverage, as the companies expressed their commitment to deploy resources to fight against wildfires.  \u003Cbr />\u003Cbr />"I congratulate the FFA on the expansion of its fire prevention outreach efforts. The inclusion of new members like Sime Darby validates the importance of a multi-stakeholder approach to solving the haze problem from the source. We hope that we can continue to support the fire prevention efforts of agri-businesses and advocate for the consumption of haze-free products," he said.  \u003Cbr />\u003Cbr />\u003Cbr />\u003Cbr />\u003C/p>",{"id":2974,"name":2975},76,"Jakarta Globe",[2977],{"id":14,"name":15},{"name":2979,"file_name":2979,"url":2980},"ffvp_7.jpg","https://www.ioigroup.com/storage/592/ffvp_7.jpg",[],{"meta_title":2970,"meta_description":2983,"meta_keywords":28},"Jakarta. The Fire Free Alliance, a voluntary multi-stakeholder platform to aid in the resolution of land and forest fires in Indonesia, has welcomed a...",{"id":2985,"title":2986,"date":2987,"body":2988,"source":2989,"type":2990,"image":2992,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2995,"created_at":2995,"content_type":24,"related_news":2996,"metatag":2997},731,"Lower Forex Risk Seen for IOI Corp","2017-02-25T00:00:00.000000Z","\u003Cp>\u003Cbr />\u003C/p>\u003Cp>\u003Cbr />\u003C/p>\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/27.02.17.JPG\" alt=\"\" />\u003C/div>\u003Cp style=\"text-align: center;\">\u003Cem>Forex stability: The plantations giant says it does not expect to book a huge forex translation loss again for the third quarter ending March 31.\r\n\u003C/em>\u003Cbr />\u003C/p>\u003Cp>THE foreign exchange (forex) woes faced by IOI Corp Bhd, whose underlying business improvement has been overshadowed by the impact of the weakening ringgit in the three months to December 2016, are expected to ease in the months ahead.\r\n\u003Cbr />\u003Cbr />This comes as the Malaysian currency has become relatively more stable, thanks to Bank Negara’s newly implemented forex market stabilisation programme, while IOI itself has internally implemented a forex-risk diversification exercise involving its US dollar-denominated loans.\u003Cbr />  \u003Cbr />On that basis, the plantations giant says it does not expect to book a huge forex translation loss again for the third quarter ending March 31, 2017.\r\n\u003Cbr />IOI had recorded an unrealised forex translation loss of RM330mil on its US dollar borrowings in the second quarter ended Dec 31, 2016.\r\n\u003Cbr />\u003Cbr />On top of that, it had also incurred RM23.4mil in fair value loss on derivative instruments, which are primarily trade-related forex forward contracts, after the ringgit depreciated below the exchange rate that IOI had locked in, during the period.\r\n\u003Cbr />\u003Cbr />That was the quarter that saw the ringgit, along with many emerging market currencies, fall sharply against the US dollar amid a global bond market rout and rallying US equity market after Donald Trump won the\r\n\u003Cbr />US presidential election in early November. The ringgit’s value vis-a-vis the greenback then was further impacted by speculative activities in the offshore ringgit NDF, non-deliverable forward, market.\r\n\u003Cbr />\u003Cbr />According to IOI, the group’s unrealised forex translation loss during the quarter in review was based on the end-December 2016 exchange rate of US$1 to RM4.48.\r\n\u003Cbr />\u003Cbr />However, the company reckons that there is now less volatility in the ringgit’s exchange rate after the central bank stepped in to curb speculative offshore trading the in Malaysian currency.\r\n\u003Cbr />\u003Cbr />“Since Bank Negara took the forex market stabilisation measures in December 2016, the volatility of ringgit against the US dollar has reduced substantially... with the reduced volatility and current US dollar exchange rate, we do not foresee substantial translation loss in our third-quarter result,” an IOI spokesperson says in an email to StarBizWeek.\r\n\u003Cbr />\u003Cbr />\u003Cstrong>High US dollar exposure\r\n\u003C/strong>\u003Cbr />\u003Cbr />IOI has significant exposure to US dollar as the bulk of its debts are denominated in the greenback.\r\n\u003Cbr />\u003Cbr />For instance, its filings show that almost 80% of the group’s total borrowings of RM7.49bil at Dec 31, 2016, were denominated in US dollar and 8% in euro. In absolute terms, its total US dollar-denominated debt stood at US$1.33bil (RM5.91bil), while total euro-denominated borrowings were 129.8 million euros (RM610.61mil) then.\r\n\u003Cbr />\u003Cbr />Such debt composition makes the group’s financial position vulnerable to fluctuations in US dollar.\r\n\u003Cbr />\u003Cbr />To put that into perspective, a sensitivity analysis by CIMB Research indicates that every 10 sen change in the ringgit-to-US dollar exchange rate could lead to a forex translation loss/gain of RM148mil for IOI.\r\n\u003Cbr />\u003Cbr />Nevertheless, IOI recently revealed that it has started paring down its US dollar debt by refinancing and swapping some of them into euro-denominated loan as part of a risk-management strategy and to reduce borrowing costs.\r\n\u003Cbr />\u003Cbr />“We have in total swapped US$200mil loan into euro-denominated loan. In addition, we have taken new euro loan of 95 million for our acquisition of Germany oleochemical business,” IOI says.\r\n\u003Cbr />\u003Cbr />In the interim, however, the group reckons that the volatility of ringgit-to-US dollar exchange rate will continue to affect the non-cash flow forex translation gain/loss arising mainly from its medium to long dated US dollar-denominated borrowings, as well as the fair value gain/loss on derivative financial instruments.\u003Cbr />  \u003Cbr />\u003Cstrong>Back on track\r\n\u003Cbr />\u003C/strong>\u003Cbr />Because of the substantial forex translation loss on its US dollar borrowings and fair value loss on derivative instruments, IOI saw its net profit decline 98% to RM15.6mil, or 0.25 per share, for the second quarter of its financial year (FY) ending June 30, 2017. This compares with a net profit of RM703.7mil, or 11.17 sen per share, in the previous corresponding quarter.\r\n\u003Cbr />\u003Cbr />Excluding the forex translation and fair value on derivative losses, however, IOI’s core net profit stood at RM381mil, which represented an increase of 53.5% year-on-year (y-o-y), thanks to higher crude palm oil (CPO) and palm kernel average selling prices as well as improvement in downstream margins amid a tight supply in the industry.\r\n\u003Cbr />\u003Cbr />During the quarter in review, IOI saw a revenue growth of 23.5% y-o-y to RM3.67bil, driven by higher selling prices.\r\n\u003Cbr />\u003Cbr />The average CPO price realised for second quarter of FY17 stood at RM2,768 per metric tonne, compared with RM2,144 per metric tonne in the previous corresponding period, while the average palm kernel price realised was RM2,882 per metric tonne, compared with RM1,631 per metric tonne previously.\r\n\u003Cbr />\u003Cbr />Analysts note the growth of IOI’s core earnings is an underlying improvement in its business operations, with the firm prices of CPO and palm kernel driving its plantation segment, and the reinstatement of its Roundtable on Sustainable Palm Oil (RSPO) certification since August last year enabling the company to regain its premium pricing for downstream products to boost its manufacturing segment.\r\n\u003Cbr />\u003Cbr />“Growth in the company’s core net profit is reflective of its improving operations. The company is doing pretty well actually,” JF Apex Securities analyst Low Zy Jing says.\r\n\u003Cbr />\u003Cbr />“Aside from firm CPO and palm kernel prices, which will help bolster its plantations segment, the reinstatement of its RSPO certification has helped the company regain some of the customers it lost when the certification on its entire oil palm production was suspended in April 2016, as well as to regain premium pricing for its downstream products.\r\n\u003Cbr />\u003Cbr />“So, we expect IOI’s prospects going forward to improve,” he explains.\r\n\u003Cbr />\u003Cbr />In its results announcement, IOI has said that it is now actively engaging with its stakeholders to rebuild its sustainability credentials, which will benefit its downstream manufacturing business, particularly the specialty oils and fats sub-segment.\r\n\u003Cbr />\u003Cbr />“Any effort to improve our sustainability practices and credentials will have an immediate impact on our business. More importantly, we hope to see these efforts giving sustainable medium and long term benefits to our business,” IOI explains.\r\n\u003Cbr />\u003Cbr />The group points out that it currently has unutilised capacities in several existing plants for increased production in its specialty fats business. In addition, its new plant Xiamen, China, is scheduled to be completed in the middle of this year.\r\n\u003Cbr />\u003Cbr />This, it says, will help the group expand its specialty fats business.\r\n\u003Cbr />\u003Cbr />Meanwhile, IOI expects CPO and palm kernel prices to remain firm in the current quarter due to low stocks, and this will help drive growth in its upstream plantation business for the third quarter of FY17.\r\n\u003Cbr />\u003Cbr />But the firm prices of CPO and palm kernel, however, will mean higher raw material costs for the group’s resource-based manufacturing segment, and this could affect the performance of the downstream division in the third quarter of FY17.\r\n\u003Cbr />\u003Cbr />According to UOBKayHian Research, IOI’s resource-based manufacturing segment will take time to recover.\r\n\u003Cbr />\u003Cbr />“The improvement (of the division’s performance since the second quarter) is likely to continue into the second half of FY17, but the concern is the higher raw material prices and lower volume in the third quarter of FY17 could drag down its performance for that quarter,” UOBKayHian Research said in its recent report.\r\n\u003Cbr />\u003Cbr />The brokerage, however, notes more than half of IOI’s earnings come from sales of CPO and palm kernel, while a third comes from its downstream products.\r\n\u003Cbr />\u003Cbr />Hence, movements in CPO prices will affect the group’s plantation segment profits more so than its manufacturing segment.\r\n\u003Cbr />\u003Cbr />“With rising contribution from its 31% Indonesian associate Bumitama Agri, IOI’s earnings are therefore increasingly influenced by CPO price movements,” UOBKayHian says.\r\n\u003Cbr />\u003Cbr />The brokerage says the expected weaker performance of IOI in the second half of FY17 on the back of lower production to be mitigated by higher selling prices.\r\n\u003Cbr />\u003Cbr />For the first half of FY17, IOI reported a net profit of RM120.4mil, compared with a net loss of RM40.7mil in the previous corresponding period.\r\n\u003Cbr />\u003Cbr />The turnaround was mainly attributable to higher contribution from its plantation segment and lower net foreign currency translation loss on US dollar borrowings.\r\n\u003Cbr />\u003Cbr />In general, IOI is expected to see earnings recovery in FY17 from FY16.\r\n\u003Cbr />\u003Cbr />But analysts reckon this has already been priced in by the market, hence the counter is trading at relatively expensive valuations now.\r\n\u003Cbr />\u003Cbr />IOI’s shares gained 9 sen to close at RM4.69 yesterday, valuing the company at around 26-27 times estimated FY17 earnings, compared with its five-year historical average of around 20 times.\r\n\u003Cbr />\u003Cbr />A Bloomberg poll shows there are only four “buy” calls on IOI, against 12 “hold” and 10 “sell” calls on the counter, with the 12-month average target price pegged at RM4.40.\r\n\u003Cbr />\r\n\u003Cbr />\u003Cbr />\u003C/p>",{"id":10,"name":11},[2991],{"id":14,"name":15},{"name":2993,"file_name":2993,"url":2994},"270217.JPG","https://www.ioigroup.com/storage/591/270217.JPG","2025-05-02T09:52:45.000000Z",[],{"meta_title":2986,"meta_description":2998,"meta_keywords":28},"Forex stability: The plantations giant says it does not expect to book a huge forex translation loss again for the third quarter ending March 31. THE...",{"id":3000,"title":3001,"date":3002,"body":3003,"source":3004,"type":3005,"image":3007,"highlight_image":28,"published":22,"is_featured":814,"updated_at":2995,"created_at":2995,"content_type":24,"related_news":3010,"metatag":3011},730,"IOI Corp Posts Pre-tax Profit of RM128m in Q2 FY17","2017-02-20T00:00:00.000000Z","\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/IOI%20Group.gif\" alt=\"\" style=\"width: 400px; height: 266px;\" />\u003C/div>KUALA LUMPUR: Plantation heavyweight IOI Corporation Bhd posted profit before tax (PBT) of RM128.80mil in the second quarter ended Dec 31, 2016, which was sharply lower than a year ago due to net foreign currency translation loss on foreign currency borrowings.\r\n\u003Cbr />\r\n\u003Cbr />It said on Monday the PBT was down 84.7% from RM844.20mil a year ago. Its earnings were RM15.60mil compared with RM703.70mil a year ago.\r\n\u003Cbr />\r\n\u003Cbr />IOI Corp explained the lower PBT was due mainly to the net foreign currency translation loss on foreign currency denominated borrowings of RM330mil for Q2 FY2017 as compared to the gain of RM227.3mil a year ago. \r\n\u003Cbr />\r\n\u003Cbr />“Excluding the net foreign currency translation loss/gain, the underlying PBT of RM458.8mil for Q2 FY2017 is 26% lower than the underlying PBT of RM616.9milfor Q2 FY2016. \r\n\u003Cbr />\r\n\u003Cbr />“The lower underlying PBT is due mainly to lower contribution from resource-based manufacturing segment which was partially cushioned by higher contribution from the plantation segment,” it said.\r\n\u003Cbr />\r\n\u003Cbr />In the Q2, FY17, IOI Corp's revenue rose 23.4% to RM3.66bil from RM2.96bil. Earnings per share were 0.25 sen compared with 11.17 sen. It declared an interim dividend of 4.5 sen compared with 3.5 sen a year ago.\r\n\u003Cbr />\r\n\u003Cbr />Plantation profit increased by 23% to RM357.9mil for Q2 FY2017 from RM292.1mil due mainly to higher crude palm oil (CPO) and palm kernel (PK) prices realised despite lower fresh fruit bunches (FFB) production. \r\n\u003Cbr />\r\n\u003Cbr />The average CPO and PK prices realised for Q2 FY2017 were RM2,768 a tonne (Q2 FY2016 at RM2,144 a tonne) and RM2,882 a tonne (Q2 FY2016 at  RM1,631) respectively.\r\n\u003Cbr />\r\n\u003Cbr />IOI Corp's resource-based manufacturing segment reported lower profit of RM155.4mil for Q2 FY2017 versus RM368.6mil a year ago.\r\n\u003Cbr />\r\n\u003Cbr />Excluding the fair value loss/gain on derivative financial instruments, the underlying profit for resource-based manufacturing segment of RM178.8mil for Q2 FY2017 was 59% above the underlying profit of RM112.2mil a year ago. This was mainly due to higher margin derived from refining sub-segment.\r\n\u003Cbr />\r\n\u003Cbr />For the first half, IOI Corp's PBT was higher at RM318mil versus RM153.60mil in the previous corresponding period ended Dec 31, 2015. \r\n\u003Cbr />\r\n\u003Cbr />The higher PBT was due mainly to higher contribution from plantation segment and lower net foreign currency translation loss on foreign currency denominated borrowings which was offset by lower contribution from resource-based manufacturing segment. \r\n\u003Cbr />\r\n\u003Cbr />“Excluding the net foreign currency translation loss of RM502.0mil (H1 FY2016 – RM626.6mil) on foreign currency denominated borrowings, the underlying PBT of RM820mil for H1 FY17 is 5% higher than the underlying PBT of RM780.2mil for H1, FY16,” it explained.\r\n\u003Cbr />\r\n\u003Cbr />It reported earnings of RM120.40mil compared with net loss of -RM40.70mil. Revenue rose 14.9% to RM6.957bil from RM6.055bil.\r\n\u003Cbr />\r\n\u003Cbr />On the outlook, IOI Corp said CPO and PK prices were expected to remain firm in the current quarter due to the low stocks. \r\n\u003Cbr />\r\n\u003Cbr />“Going into the last quarter of the financial year, we anticipate that prices will not be significantly impacted by the seasonal increase in production. The plantation segment is therefore expected to perform better than the previous financial year.\r\n\u003Cbr />\r\n\u003Cbr />“The performance of the resource-based manufacturing segment is expected to be affected by the current firm palm oil and PK  prices,” it said.\r\n\u003Cbr />\u003Cbr />IOI Corp said the volatility of the US dollar Ringgit exchange rate would continue to affect the non-cash flow foreign exchange (forex) translation gain/loss arising mainly from its medium to long dated US Dollar-denominated borrowings, as well as the fair value gain/loss on derivative financial instruments which are primarily trade-related forex forward contracts. \r\n\u003Cbr />\u003Cbr />IOI Corp also said it had refinanced/swapped some of its US Dollar loans into Euro-denominated loans to diversify its forex risks and reduce its borrowings cost.\r\n\u003Cbr />\u003Cbr />",{"id":10,"name":11},[3006],{"id":14,"name":15},{"name":3008,"file_name":3008,"url":3009},"ioi_group.gif","https://www.ioigroup.com/storage/590/ioi_group.gif",[],{"meta_title":3001,"meta_description":3012,"meta_keywords":28},"KUALA LUMPUR: Plantation heavyweight IOI Corporation Bhd posted profit before tax (PBT) of RM128.80mil in the second quarter ended Dec 31, 2016, which...",{"id":3014,"title":3015,"date":3016,"body":3017,"source":3018,"type":3019,"image":3021,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3024,"created_at":3024,"content_type":24,"related_news":3025,"metatag":3026},728,"Celebrating the Jolliest Season with IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) and Bargain Basement","2016-12-06T00:00:00.000000Z","\u003Cp>\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/IMG_0678(1).jpg\" alt=\"\" style=\"width: 800px; height: 533px;\" />\u003C/p>\r\n\u003Cp>On 6 December 2016, a total of 35 children from Persatuan Kebajikan Kanak-Kanak Cornerstone, Selangor and Pusat Jagaan Kanak-Kanak Istimewa Lagenda enjoyed a very merry Christmas at IOI City Mall (ICM) courtesy of IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) and ICM as part of IOI Group’s Corporate Social Responsibility (CSR) initiative in celebrating this festive season. \u003Cbr />\u003Cbr />The children, ranging from five to 19 years old, arrived with their caregivers at 9:00 am eagerly anticipating the activities in store for them. IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) Executive Director Datin Joanne Wong warmly welcomed the children at District21, a first of its kind, apocalypse 70,000 sq ft indoor action adventure park located within the mall. After a safety briefing by District21’s personnel, the children gamely tackled various challenges such as Go Pedal, Low Ropes, The Maze, Launch Pad and Tubby Ride. \u003Cbr />\u003Cbr />Then the children proceeded to a party room for a hearty lunch while being accompanied by two balloonists who entertained the kids with various shapes of interesting balloons such as guns, lollipops, flowers and even dinosaurs! \u003Cbr />\u003Cbr />Later, the children and caretakers were invited to the Lower Ground Centre Court of ICM to witness a philanthropic gesture of cheque presentation by Bargain Basement, a community initiative of IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng). Datin Joanne Wong was invited on stage to spread love and joy this festive season by contributing Bargain Basement’s nett proceeds of RM50,000 to five beneficiaries, namely Rumah Shalom, Yayasan Seribu Harapan Malaysia, Pertubuhan Anak Yatim Darul Aminan, Persatuan Kebajikan Kanak-kanak Cornerstone, Selangor and Pusat Jagaan Kanak-Kanak Istimewa Lagenda in a cheque presentation in line with its “give to inspire others to give” motto. Each home was given RM10,000. Goodie bags filled with Christmas gifts including school bags, snacks, drinks and various joyful items were also distributed to the two homes by Datin Joanne and Complex General Manager Mr Chris Chong.\u003C/p>\r\n\u003Cp>\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/IMG_0813.jpg\" alt=\"\" style=\"width: 800px;\" />\u003C/p>\r\n\u003Cp>\u003Cbr />Since its opening at ICM on 1 June 2016, Bargain Basement has gained popularity among generous donors and has become a delight among budget conscious buyers. After just five months of operations, Bargain Basement has raised RM50,000 in a community effort to provide low priced items for the underprivileged as well as being a sustainable long-term fundraiser. Datin Joanne said, “Besides helping to remove clutter at home, this initiative also benefits the environment as the goods are used by someone else instead of being dumped in a landfill.” \u003Cbr />\u003Cbr />The day ended on a joyful note as representatives of the beneficiaries and invited guests explored Bargain Basement while the children continued their day of fun at District21. \u003C/p>",{"id":1002,"name":1003},[3020],{"id":241,"name":564},{"name":3022,"file_name":3022,"url":3023},"img_06781.jpg","https://www.ioigroup.com/storage/588/img_06781.jpg","2025-05-02T09:52:44.000000Z",[],{"meta_title":3015,"meta_description":3027,"meta_keywords":28},"On 6 December 2016, a total of 35 children from Persatuan Kebajikan Kanak-Kanak Cornerstone, Selangor and Pusat Jagaan Kanak-Kanak Istimewa Lagenda en...",{"id":3029,"title":3030,"date":3031,"body":3032,"source":3033,"type":3034,"image":3036,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3039,"created_at":3039,"content_type":24,"related_news":3040,"metatag":3041},725,"Bargains with good intentions","2016-07-01T00:00:00.000000Z","\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Datin.JPG\" alt=\"\" />\u003Cp>\u003Cem>\u003Cspan style=\"color: #444444; font-family: Roboto, Arial, Helvetiva, Tahoma, sans-serif; line-height: 18px; background-color: #e5e5e2; \">Wong (left) and Bargain Basement store manager Catherine Liew sorting out and arranging the items donated by well-wishers at the store in IOI City Mall, Putrajaya.\u003C/span>\u003C/em>\u003C/p>\u003Cp>BARGAIN Basement is a store with a heart – in the figurative and literal sense. \u003Cbr /> It encourages the public to donate pre-loved or unused items to help the community, and its logo is a tree filled with heart-shaped leaves symbolising the generosity of its donors.  \u003Cbr />It is a community initiative under IOI Group’s Tan Sri Lee Shin Cheng Foundation.  \u003Cbr />The community project takes in pre-loved, unused or excess goods, which are then sold at an affordable price at its store in IOI City Mall, Putrajaya. \u003C/p>\r\n\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Datin%202.JPG\" alt=\"\" />\u003Cp>\u003Cem>\u003Cspan style=\"color: #444444; font-family: Roboto, Arial, Helvetiva, Tahoma, sans-serif; line-height: 18px; background-color: #e5e5e2; text-align: center;\">Liew says toys and clothing are among the store's fast-selling items.\u003C/span>\u003C/em>\u003C/p>\u003Cp>“We encourage people to spring clean and donate items they don’t want anymore, so someone else can make use of them,” said Bargain Basement founder Datin Joanne Wong.   \u003Cbr />“Though some items are second-hand, they are still in good condition and can be purchased at a low price. \u003Cbr /> “Besides helping to remove clutter at home, this initiative also benefits the environment as the goods are used by someone else instead of being dumped in a landfill.” \u003Cbr /> She said re-using goods was an economical way for people in all socioeconomic levels to acquire items they need, improve communities and prevent waste.  \u003Cbr />Bargain Basement welcomes items that are clean and in good condition such as children’s and adult clothing, shoes, bags, jewellery and other accessories, household products such as utensils, dishes and containers, ornamental or decorative items, books, toys, sports gear and electrical appliances. \u003C/p>\r\n\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Datin%203.JPG\" alt=\"\" />\u003Cp>\u003Cem>\u003Cspan style=\"color: #444444; font-family: Roboto, Arial, Helvetiva, Tahoma, sans-serif; line-height: 18px; background-color: #e5e5e2;\">With prices starting from as low as RM5, Bargain Basement is an ideal shopping place for budget-conscious consumers and abrgain hunters.\u003C/span>\u003C/em>\u003C/p>\u003Cp>“We basically take in items that are still usable and can fit into a car.   \u003Cbr />“We are unable to accommodate bulky goods such as furniture as we do not provide delivery service,” said Wong.\r\n  \r\n  “About one quarter of the goods we get are new.   \u003Cbr />“Some items, such as a dining table set or tea set, are bundled together to be sold as a package.   \u003Cbr />“People have also donated premium items, including branded clothing and finely woven carpets. \u003Cbr /> “Some items are almost brand new,” she added.  \u003Cbr />While the cheapest item, such as a book or a pair of earrings is priced at no less than RM5, Wong said premium goods were priced in the three- to four-figure range, depending on their value and condition. \u003C/p>\r\n\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Datin%204.JPG\" alt=\"\" />\u003Cp>\u003Cem>\u003Cspan style=\"color: #444444; font-family: Roboto, Arial, Helvetiva, Tahoma, sans-serif; line-height: 18px; background-color: #e5e5e2;\">Bargain Basement is located at B3-10, IOI City Mall, Putrajaya.It also has two drop-off points at Puchong Financial Corporate Centre and 16 Sierra.\u003C/span>\u003C/em>\u003C/p>\u003Cp>Wong shared that Bargain Basement was popular among budget-conscious consumers, such as the mall’s workers, students and even tourists.   \u003Cbr />“This community initiative is for a good cause, as the nett proceeds from the items sold are channelled to different charities each month,” she said.\r\n  \r\n  “The beneficiary could be an individual, group or home in need.   \u003Cbr />“There can be more than one beneficiary each month, but our priority will be those who have had interaction with Bargain Basement.”  \u003Cbr />Wong, who is also the foundation’s executive director, said Bargain Basement welcomed contributions from residents and business communities. Prior arrangements can be made for large pick-ups.   \u003Cbr />“We also welcome stock overruns from manufacturers and distributors, as well as dedicated volunteers who are able to help out at least once a week. \u003C/p>\r\n\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/Datin%205.JPG\" alt=\"\" />\u003Cp>\u003Cem>\u003Cspan style=\"color: #444444; font-family: Roboto, Arial, Helvetiva, Tahoma, sans-serif; line-height: 18px; background-color: #e5e5e2;\">Household products such as utensils, dishes and containers, as well as ornamental and decorative items are among the goods donated to and sold at Bargain Basement.\u003C/span>\u003C/em>\u003C/p>\u003Cp>“At 139.3sq m, the store is fairly small in size, although there is a possibility of expanding the premises in the future,” said Wong of the project that opened for business on June 1.   \u003Cbr />“We have seen plenty of community interaction at Bargain Basement, whether among our staff with the shoppers and donors, or with a mall tenant who helps us to repair broken locks or zips before the items are sold,” she said.   \u003Cbr />She expressed hope that there would be similar community efforts nationwide.\r\n  \r\n  Bargain Basement is located at B3-10, IOI City Mall, Putrajaya (three levels below Subway, same wing as Homepro).  \u003Cbr />It is open daily from 10am to 10pm.  \u003Cbr />It has two drop-off points at Ground Floor reception, Tower 2, Puchong Financial Corporate Centre, Bandar Puteri Puchong and Amigo Clubhouse, 16 Sierra, Puchong South.  \u003Cbr />For enquiries, call 03-8947 8888 ext 1128 (Catherine Liew) or visit \u003Ca href=\"http://yayasan.ioigroup.com\" target=\"_blank\">yayasan.ioigroup.com\u003C/a>\u003C/p>",{"id":10,"name":11},[3035],{"id":14,"name":15},{"name":3037,"file_name":3037,"url":3038},"datin.JPG","https://www.ioigroup.com/storage/587/datin.JPG","2025-05-02T09:52:43.000000Z",[],{"meta_title":3030,"meta_description":3042,"meta_keywords":28},"Wong (left) and Bargain Basement store manager Catherine Liew sorting out and arranging the items donated by well-wishers at the store in IOI City Mal...",{"id":3044,"title":3045,"date":3046,"body":3047,"source":3048,"type":3049,"image":3051,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3054,"created_at":3054,"content_type":24,"related_news":3055,"metatag":3056},723,"Rewarding employee’s children","2016-06-02T00:00:00.000000Z","\u003Cp>IOI GROUP’S foundation, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), awarded 89  top students with cash prizes at the Young Achievers’ Awards (YAA)  presentation ceremony at IOI Resort City recently. \u003C/p> \u003Cp>The event brought together IOI employees and their high-achieving  children from IOI Group’s subsidiaries in Peninsular Malaysia, including  those from its headquarters in Klang Valley, IOI Estates, IOI  Oleochemical Industries in Penang, IOI Pan-Century and IOI Loders  Croklaan Asia in Johor, and IOI Properties Group Berhad in Johor. \u003C/p> \u003Cp>A total of RM38,900 was disbursed to the students who sat for the  UPSR, PT3, SPM and STPM examinations, including ‘O’ Levels, UEC and ‘A’  Levels, in 2015. \u003C/p> \u003Cp>IOI Corporation Bhd chief executive officer Datuk Lee Yeow Chor and  IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) executive director Datin Joanne Wong were in attendance to  present the YAA trophies and certificates to the students.\u003C/p>\u003Cp style=\"margin-bottom: 12.75pt; line-height: 17.25pt; background-image: initial; background-attachment: initial; background-size: initial; background-origin: initial; background-clip: initial; background-position: initial; background-repeat: initial;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/yAA%20Group.jpg\" alt=\"\" />\u003C/p>\u003Cp style=\"margin-bottom: 12.75pt; line-height: 17.25pt; background-image: initial; background-attachment: initial; background-size: initial; background-origin: initial; background-clip: initial; background-position: initial; background-repeat: initial;\">\u003Cspan style=\"color: #555555; font-family: Arial, sans-serif; font-size: 9pt; line-height: 11.25pt;\">The top students at the Young Achievers’ Awards (YAA) presentation ceremony in IOI Resort City. \u003C/span>\u003C/p>\u003Cp>In his keynote address, Lee congratulated the students and their  proud parents. He credited the students’ achievements to their “spirit  to excel”. \u003C/p> \u003Cp>“Excellence is an admirable value as it is the key pillar of strength  and success, not only in the field of education, but in life as a  whole. \u003C/p> \u003Cp>“I encourage you to continue realising your full potential by  building your spirit of excellence in everything you do and to be  purpose-driven towards any goal in life.”\u003C/p> \u003Cp>Meanwhile, one of the YAA recipients, Muhammad Izmeer Mohd Jafery,  shared his tips for success. Effective time management had enabled this  head prefect, who was also the head of his school’s student’s  association, to do well in his SPM examination. \u003C/p> \u003Cp>Quoting “attitude, not aptitude, determines your altitude”, this  aspiring architect emphasised the importance of target-setting and  working your way towards it.\u003C/p> \u003Cp>Since the introduction of this initiative in 1999, over 1,400 young  achievers have been recognised for their spirit of excellence. This  annual award is a platform in building a bright and better future  through education. \u003C/p> \u003Cp>Some of the YAA recipients go on to receive IOI scholarships and join the company upon completion of their tertiary education. \u003C/p> \u003Cp>IOI has always shown keen interest in initiatives that support youth  development and the development of education within our society and they  will continue with such initiatives in the future.\u003C/p>",{"id":10,"name":11},[3050],{"id":14,"name":15},{"name":3052,"file_name":3052,"url":3053},"yaa_group.jpg","https://www.ioigroup.com/storage/585/yaa_group.jpg","2025-05-02T09:52:42.000000Z",[],{"meta_title":3045,"meta_description":3057,"meta_keywords":28},"IOI GROUP’S foundation, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), awarded 89 top students with cash prizes at the Young Achie...",{"id":3059,"title":3060,"date":3061,"body":3062,"source":3063,"type":3064,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3066,"created_at":3066,"content_type":24,"related_news":3067,"metatag":3068},719,"IOI to count on its diverse range of products","2016-05-25T00:00:00.000000Z","\u003Cp>PETALING JAYA: IOI Properties Group Bhd (IOI Prop) expects earnings for its current financial year ending June 30 to match that of its previous financial year, despite the slowdown in the property sector. \u003Cbr />\u003Cbr />Chief operating officer Teh Chin Guan (pic) said that having a diverse range of property products had allowed the company to be resilient during the tough times. \u003Cbr />\u003Cbr />He said IOI Prop would be launching the last two blocks of its Almyra Residence service apartments in Bandar Puteri Bangi, which start from RM368,820, later this year. \u003Cbr />\u003Cbr />“We have an advantage. During a market slowdown, we are able to focus on affordable products,” Teh told StarBiz. \u003Cbr />\u003Cbr />Comprising four blocks, the Almyra Residence development consists of 669 units. \u003Cbr />\u003Cbr />IOI Prop’s net profit in 2015 was flat at RM890.70mil, compared with RM889.92mil in the previous corresponding period. \u003Cbr />\u003Cbr />Revenue increased to RM1.91bil compared with RM1.45bil a year earlier. The better earnings were due to higher sales from development projects in Malaysia and Singapore, coupled with steady increase in progress works. \u003Cbr />\u003Cbr />Earlier this month, BIMB Research highlighted that IOI Prop would have two townships added to its existing portfolio, Bandar Puteri Warisan and Bandar Puteri Bangi, which respectively have a gross development value (GDV) of RM2.5bil and RM3.6bil. \u003Cbr />\u003Cbr />It said projects from this segment would contribute about 53% of the total GDV of RM16bil for the next three years. \u003Cbr />\u003Cbr />Major contributors include its 16 Sierra in South Puchong, Bandar Puchong Jaya and Bandar Puteri Puchong which have a combined GDV of RM5.2bil, \u003Cbr />\u003Cbr />Teh also said the company would be launching the second phase of its Avista two-storey terrace development next month. \u003Cbr />\u003Cbr />While the units start from RM680,000, he said the company is optimistic about the take-up rate, adding that it also had a number of other projects in the pipeline that it considers “affordable” for buyers. \u003Cbr />\u003Cbr />“We also have a large landbank and properties in and outside Malaysia,” said Teh. \u003Cbr />\u003Cbr />IOI Prop has 10,000 acres of undeveloped landbank. It has projects in Penang, Selangor, Negri Sembilan, Malacca, Johor, Singapore and China. \u003Cbr />\u003Cbr />He said the company was on the lookout for strategic landbank. \u003Cbr />\u003Cbr />On the outlook for the local property market, Teh said he expects the segment to pick up only next year. \u003Cbr />\u003Cbr />“We expect 2017 to be better. For this year, growth will remain flat due to both internal and external factors. We don’t really know when the market will bottom out, although statistics seem to indicate that we have pretty much bottomed,” he said.\u003C/p>\r\n\u003Cp style=\"text-align: center;\">\u003Cbr />\u003Cem>IOI Properties Group Bhd chief operating officer Teh Chin Guan during a briefing on the companys 16 Sierra project in Puchong. (filepic)\u003C/em>\u003C/p>",{"id":10,"name":11},[3065],{"id":14,"name":15},"2025-05-02T09:52:41.000000Z",[],{"meta_title":3060,"meta_description":3069,"meta_keywords":28},"PETALING JAYA: IOI Properties Group Bhd (IOI Prop) expects earnings for its current financial year ending June 30 to match that of its previous financ...",{"id":3071,"title":3072,"date":3073,"body":3074,"source":3075,"type":3076,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3066,"created_at":3066,"content_type":24,"related_news":3078,"metatag":3079},717,"IOI Corp posts RM748m earnings in Q3, boost from manufacturing, forex gains","2016-05-18T00:00:00.000000Z","\u003Cbr />KUALA LUMPUR: IOI Corporation posted net profit of RM748.4mil in the third quarter ended March 31, 2016, underpinned by higher contribution from resource-based manufacturing segment and net foreign currency translation gain on borrowings.\r\n\u003Cbr />\u003Cbr />The plantation heavyweight said on Wednesday this was in contrast with the net losses of RM188mil a year ago. However, the third quarter performance reflected the steady improvement from the second quarter ended Dec 31, 2015 when it posted earnings of RM724.80mil.\r\n\u003Cbr />\u003Cbr />IOI Corp said profit before taxation (PBT) in the just ended quarter was RM869.4mil versus loss before taxation of RM109.2mil a year ago.\r\n\u003Cbr />\u003Cbr />“Excluding the net foreign currency translation gain of RM432.8mil (Q3 FY2015 – loss of RM332.7 million) on foreign currency denominated borrowings, the underlying PBT of RM436.6 million for Q3 FY2016 is 95% higher than the underlying PBT of RM223.5 million for Q3 FY2015,” it explained. \r\n\u003Cbr />\u003Cbr />In Q3, FY16, plantation profit fell 13% to RM166.3mil from a year ago due mainly to lower fresh fruit bunches (FFB) production which was mitigated by higher crude palm oil (CPO) and palm kernel (PK) prices realised.  FFB production for Q3 FF16 fell 23% to 525,281 tonnes from 683,718 tonnes a year ago.\r\n\u003Cbr />\u003Cbr />It reported a 196% increase in resource-based manufacturing profit of RM305.1mil from RM102.9mil a year ago.\r\n\u003Cbr />\u003Cbr />IOI Corp attributed the higher profit due mainly to fair value gain on derivative financial instruments of RM184.9mil (Q3 FY15 – RM4.2mil). \r\n\u003Cbr />\u003Cbr />If the fair value gain on derivative financial instruments was excluded, the underlying profit for resource-based manufacturing also showed a 22% increase to RM120.2mil from the underlying profit of RM98.7mil a year ago.\r\n\u003Cbr />\u003Cbr />“This is mainly due to higher contribution from the oleochemicals and the specialty oils and fats sub-segments,” it said.\r\n\u003Cbr />\u003Cbr />When compared with the second quarter ended Dec 31, 2015, its PBT was  lower at RM869.4mil from RM876.5mil  due to lower contribution from all segments.\r\n\u003Cbr />\u003Cbr />However, this was mitigated by higher net foreign currency translation gain on foreign currency denominated borrowings. \r\n\u003Cbr />\u003Cbr />“Excluding the net foreign currency translation gain of RM432.8mil (Q2, FY16 – RM227.3mil) on foreign currency denominated borrowings, the underlying PBT of RM436.6mil for Q3, FY16 is 33% lower than the underlying PBT of RM649.2mil for Q2, FY16,” it said. \r\n\u003Cbr />\u003Cbr />IOI Corp said plantation profit fell 48% to RM166.3mil for Q3 FY16 from RM324.4mil for Q2, FY16 mainly due to lower FFB production but this was offset by higher CPO and PK prices realised. \r\n\u003Cbr />\u003Cbr />“FFB production for Q3 FY2016 was 525,281 tonnes as compared to 934,940 tonnes for Q2 FY16,” it said. \r\n\u003Cbr />\u003Cbr />The resource-based manufacturing profit of RM305.1mil in Q3 FY16 was lower than profit of RM368.6mil in Q2 FY16. \r\n\u003Cbr />\u003Cbr />“The lower profit is due mainly to lower fair value gain on derivative financial instruments of RM184.9mil (Q2 FY2016 – RM256.4mil). Excluding the fair value gain on derivative financial instruments, the underlying profit for resource-based manufacturing of RM120.2 million for Q3 FY16 is 7% higher than the underlying profit of RM112.2 million for Q2 FY2016. \r\n\u003Cbr />\u003Cbr />“This is mainly due to higher contribution from the oleochemicals and the specialty oils and fats sub-segments,” it said.\r\n\u003Cbr />\u003Cbr />For the nine months ended March 31, 2016, its earnings jumped to RM754.20mil from RM8.20mil. Revenue rose to RM8.92bil from RM8.61bil.\r\n\u003Cbr />\u003Cbr />",{"id":10,"name":11},[3077],{"id":14,"name":15},[],{"meta_title":3072,"meta_description":3080,"meta_keywords":28},"KUALA LUMPUR: IOI Corporation posted net profit of RM748.4mil in the third quarter ended March 31, 2016, underpinned by higher contribution from resou...",{"id":3082,"title":3083,"date":3084,"body":3085,"source":3086,"type":3087,"image":3089,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3092,"created_at":3092,"content_type":24,"related_news":3093,"metatag":3094},711,"Foundation sponsors children from 29 primary and secondary schools under its adoption programme","2016-02-26T00:00:00.000000Z","\u003Cbr />\u003Ctable align=\"center\" border=\"0\" width=\"100\">\r\n  \u003Ctbody>\u003Ctr>\r\n    \u003Ctd>\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/metd_na_2602_pg14_prioi_niklasalbakri_2.JPG\" />\u003C/td>\r\n  \u003C/tr>\r\n  \u003Ctr>\r\n    \u003Ctd style=\"text-align: center;\">\u003Cspan style=\"font-size: 8pt;\">Wong distributing school bags to adopted pupils at SJK (T) Ladang Bahau, Negri Sembilan as its headmaster M. Thiyagu (in tie) looks on.\u003C/span>\u003C/td>\r\n  \u003C/tr>\r\n\u003C/tbody>\u003C/table>\r\n\u003Cp>THE IOI Group’s Foundation, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), has awarded RM360,000 to needy children from 29 primary and secondary schools in Peninsular Malaysia and Sabah under its Student Adoption Programme 2016.\u003C/p>\r\n\u003Cp>IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) executive director Datin Joanne Wong and her team recently visited 13 of the schools in the Klang Valley and Bahau, Negeri Sembilan, and met with the respective school principals, headmasters and assistant principals of student affairs.\u003C/p>\r\n\u003Cp>Under the Student Adoption Programme, pupils will each receive RM800 while students will receive RM1,000 per annum until they complete their primary and secondary education.\u003C/p>\r\n\u003Cp>This financial aid is channelled directly to the needs and expenses of the students, giving priority to food, transportation, tuition and lessons in English and information and communications technology.\u003C/p>\r\n\u003Cp>In addition to this programme, IOI also supports the education of 2,133 children via 26 Humana Learning Centres in its oil palm estates in Sabah, as they are stateless children of plantation workers who are not able to enrol in national schools.\u003C/p>\r\n\u003Cp>“Developing human capital, in supporting the advancement of industries in Malaysia, entails equal access to education as we hope to equip and motivate these students toward the path of excellence,” said Wong.\u003C/p>\r\n\u003Cp> \u003C/p>",{"id":10,"name":11},[3088],{"id":241,"name":564},{"name":3090,"file_name":3090,"url":3091},"metd_na_2602_pg14_prioi_niklasalbakri_2.JPG","https://www.ioigroup.com/storage/581/metd_na_2602_pg14_prioi_niklasalbakri_2.JPG","2025-05-02T09:52:39.000000Z",[],{"meta_title":3083,"meta_description":3095,"meta_keywords":28},"Wong distributing school bags to adopted pupils at SJK (T) Ladang Bahau, Negri Sembilan as its headmaster M. Thiyagu (in tie) looks on. THE IOI Group’...",{"id":3097,"title":3098,"date":3099,"body":3100,"source":3101,"type":3102,"image":3104,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3107,"created_at":3107,"content_type":24,"related_news":3108,"metatag":3109},708,"Forex boost for IOI Corp","2016-02-20T00:00:00.000000Z","\u003Cbr />\u003Ctable align=\"center\" border=\"0\" width=\"100\">\r\n  \u003Ctbody>\u003Ctr>\r\n    \u003Ctd>\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/palm-oil-forex.jpg\" />\u003Cbr />\u003C/td>\r\n  \u003C/tr>\r\n  \u003Ctr>\r\n    \u003Ctd style=\"text-align: left;\">\u003Cspan style=\"font-size: 8pt;\">Profitable: Excluding the forex gain, IOI said the underlying pre-tax profit in Q2 was up 76% year-onyear at RM649.2mil on a 3.9% higher revenue of RM2.97bil.\u003C/span>\u003C/td>\r\n  \u003C/tr>\r\n\u003C/tbody>\u003C/table>\r\n\u003Cp>\u003Cstrong>Planter’s Q2 profit soars 2,700% on currency gain\u003Cbr /> \u003C/strong>\u003C/p>\r\n\u003Cp>IOI Corp Bhd’s quarterly results continued to be affected by foreign exchange (forex) fluctuations, with earnings in the second quarter (Q2) ended Dec 31, 2015 surging 2,700% to RM724.8mil, thanks mainly to a foreign translation currency gain.\u003C/p>\r\n\u003Cp>This was a reversal from the first quarter, when IOI incurred a RM719mil loss due largely to a fair value loss on derivative financial instruments of RM451.1mil.\u003C/p>\r\n\u003Cp>In a filing with Bursa Malaysia yesterday, the plantation heavyweight said it made a net foreign currency translation gain of RM227.3mil in Q2 on foreign currency-denominated borrowings versus a RM273.6mil translation loss a year earlier.\u003C/p>\r\n\r\n\u003Cp>Excluding the forex gain, IOI said the underlying pre-tax profit was up 76% year-on-year at RM649.2mil on a 3.9% higher revenue of RM2.97bil. The company said its plantation segment had recorded a profit of RM582.4mil in Q2, marginally higher than the RM578.3mil achieved a year earlier. This was spurred by an improvement in the oil extraction rate to 21.90% from 21.54% previously, which was offset by a lower share of results of associates.\u003C/p>\r\n\u003Cp>On the resource-based manufacturing segment’s profit, IOI said it rose 65% to RM359.8mil due mainly to a fair value gain on derivative financial instruments of RM57.9mil (Q2 FY15: loss of RM129.3mil).\u003C/p>\r\n\u003Cp>Excluding the fair value gain/loss, the underlying profit for resource-based manufacturing fell 13% to RM301.9mil for the quarter under review. This was mainly due to the lower margin from the refining and the specialty oils and fats sub-segments, the company said.\u003C/p>\r\n\u003Cp>For the six-month period to Dec 31, 2015, IOI posted earnings of RM5.8mil against RM196.2mil in the previous year’s corresponding period. Revenue, meanwhile, increased 3.5% to RM6.055bil.\u003C/p>\r\n\u003Cp>On its prospects, IOI said the group expects its underlying performance for the remaining quarters to be “satisfactory.”\u003C/p>\r\n\u003Cp>“With the effect of El Nino on oil palm fruit production and the lower palm oil stock, the palm oil price has been trending upward and is expected to remain firm. As such, we expect our plantation segment to perform satisfactorily in the remaining two quarters of this financial year,” it said.\u003C/p>\r\n\u003Cp>As for its resource-based manufacturing segment, IOI expects the oleochemicals and specialty oils and fats sub-segments to achieve sustained satisfactory performance in this financial year, given their strong sales and distribution networks and the geographical spread of their customers across the globe. “The refining sub-segment remains challenging as the Malaysian refineries’ margins turn negative again from the small positive recorded earlier,” it said.\u003C/p>\r\n\u003Cp>On the currency fluctuations, IOI said the volatility of the dollar/ringgit exchange rate has been impacting the non-cash flow forex translation gain/loss arising from its medium to long-dated US dollar-denominated borrowings.\u003C/p>\r\n\u003Cp>“Since the fourth quarter of 2015, when the ringgit had weakened to RM4.40 against the US dollar, the ringgit has reversed the slide and gained strength in year 2016 to-date,” it noted. IOI has declared an interim dividend of 3.5 sen per unit versus 4.5 sen previously. IOI shares fell 15 sen to close at RM4.75, with 5.38 million shares changing hands.\u003C/p>\r\n\u003Cp> \u003C/p>",{"id":10,"name":11},[3103],{"id":14,"name":15},{"name":3105,"file_name":3105,"url":3106},"palm_oil_forex.jpg","https://www.ioigroup.com/storage/580/palm_oil_forex.jpg","2025-05-02T09:52:38.000000Z",[],{"meta_title":3098,"meta_description":3110,"meta_keywords":28},"Profitable: Excluding the forex gain, IOI said the underlying pre-tax profit in Q2 was up 76% year-onyear at RM649.2mil on a 3.9% higher revenue of RM...",{"id":3112,"title":3113,"date":3114,"body":3115,"source":3116,"type":3117,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3119,"created_at":3119,"content_type":24,"related_news":3120,"metatag":3121},707,"Foundation’s pledge to help home for disabled","2016-02-19T00:00:00.000000Z","\u003Cp>IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), a charitable foundation set up by Tan Sri Lee Shin Cheng, the founder of property and palm oil conglomerate IOI Group, has pledged RM80,000 to purchase tote bags and socks from Persatuan Daybreak, a centre for the disabled in Perak.\u003C/p>\r\n\u003Cp>Persatuan Daybreak has been providing vocational training for people with disabilities in Ipoh, teaching them the skills to make handicraft and socks.\u003C/p>\r\n\u003Cp>Once equipped with skills the disabled trainees are then placed into permanent jobs in various industries.\u003C/p>\r\n\u003Cp>“This is one example where we have found the products made by the disabled to be suitable, as we procure items for our foundation’s activities.\u003C/p>\r\n\u003Cp>Companies are able to use their purchasing power to make a difference with various social enterprises who are ready to do business,” said the foundation’s executive director Datin Joanne Wong, adding that social enterprises play an important role in society, reinvesting their profits into their social mission.\u003C/p>\r\n\u003Cp>“When businesses choose to buy from social enterprises, the acknowledgement from having considered social value in their supply chain is immense.\u003C/p>\r\n\u003Cp>“Buying from social enterprises helps improve the lives and communities of those around them.\u003C/p>\r\n\u003Cp>“At some stage of an organisation’s procurement, there is likely to be a social enterprise that can play a role,” she said.\u003C/p>\r\n\u003Cp>For details on social enterprises, go to www.socialenterprise.my and www.hati.my\u003C/p>\r\n\u003Cp> \u003C/p>\r\n\u003Cp>\u003C/p>",{"id":10,"name":11},[3118],{"id":241,"name":564},"2025-05-02T09:52:37.000000Z",[],{"meta_title":3113,"meta_description":3122,"meta_keywords":28},"IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), a charitable foundation set up by Tan Sri Lee Shin Cheng, the founder of property a...",{"id":3124,"title":3125,"date":3114,"body":3126,"source":3127,"type":3128,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3107,"created_at":3107,"content_type":24,"related_news":3130,"metatag":3131},709,"IOI Corp's 2Q net profit surges 37 times on forex gain","\u003Cp>\u003Cbr />KUALA LUMPUR (Feb 19): Exceptional items, namely foreign exchange gain and fair value gain on derivative financial instrument, have propelled IOI Corp Bhd’s net profit to RM724.8 million for the second financial quarter ended Dec 31, 2016 (2QFY16) — nearly 37 times of the RM19.6 million achieved in the previous corresponding quarter, in which it suffered large exceptional losses.\u003C/p>\r\n\u003Cp>The group’s earnings per share (EPS) jumped to 11.51 sen, from 0.31 sen previously. It declared an interim dividend of 3.5 sen per share, with an EX-date on Mar 4, 2016.\u003C/p>\r\n\u003Cp>IOI Corp recorded a foreign currency gain of RM227.3 million in 2QFY16, against a foreign exchange (forex) loss of RM273.6 million in 2QFY15.\u003C/p>\r\n\u003Cp>Furthermore, the Group has booked in fair value gain on derivative financial instruments of RM256.4 million in 2QFY16, against a loss of RM118.6 million in previous corresponding quarter.\u003C/p>\r\n\u003Cp>Quarterly revenue rose marginally by 3.9% to RM2.97 billion in 2QFY16, from RM2.86 billion a year ago.\u003C/p>\r\n\u003Cp>IOI Corp said its plantation division's profit rose by 9% to RM324.4 million in 2QFY16, from RM297.3 million in the previous corresponding quarter.\u003C/p>\r\n\u003Cp>“The higher profit reported is due mainly to improved performance of the Indonesia plantation business, as well as higher palm kernel (PK) price realised, which is offset by lower fresh fruit bunches (FFB) production,” the group disclosed.\u003C/p>\r\n\u003Cp>For the first half of FY16 (1HFY16), IOI Corp’s net profit shrunk 97% to RM5.8 million, from RM196.2 million in previous corresponding period, despite revenue having risen by 3.5% to RM6.06 billion, from RM5.85 billion for 1HFY15.\u003C/p>\r\n\u003Cp>EPS contracted to 0.09 sen per share, from 3.09 sen previously.\u003C/p>\r\n\u003Cp>The Group said the drastic fall in net profit was due to net foreign currency translation loss of RM626.6 million during 1HFY16, which was an increment of 92.33% from RM325.8 million in 1HFY15.\u003C/p>\r\n\u003Cp>IOI Corp said the volatility of the US dollar-to-ringgit exchange rate has been impacting its non-cash flow forex translation, from the Group’s medium to long term US dollar denominated borrowings.\u003C/p>\r\n\u003Cp>“Since the fourth quarter of year 2015 when the ringgit had weakened to RM4.40 against the US dollar, the ringgit has reversed the slide and gained strength in year 2016 to-date,” the Group noted.\u003C/p>\r\n\u003Cp>Moving forward, IOI Corp said due to the El Nino effect on oil palm fruits production and the lower palm oil stock, palm oil price has been trending upward and is expected to remain firm.\u003C/p>\r\n\u003Cp>“As such, we expect our plantation segment to perform satisfactorily in the remaining two quarters of this financial year,” it said.\u003C/p>\r\n\u003Cp>As for the Group’s resource-based manufacturing segment, IOI Corp expects the oleochemicals and specialty oils and fats sub-segments to achieve sustained “satisfactory” performance in this financial year, given their strong sales and distribution networks and the geographical spread of their customers across the globe.\u003C/p>\r\n\u003Cp>“The refining sub-segment remains challenging, as the Malaysian refineries’ margins turn negative again from the small positive recorded earlier,” it added.\u003C/p>\r\n\u003Cp>Overall, the Group expects its underlying operating performance for the remaining quarters of FY16 to be satisfactory.\u003C/p>\r\n\u003Cp>IOI Corp's share price retreated from its recent peak of RM4.90 to end the week at RM4.75 today, for a market capitalisation of RM29.93 billion. The plantation stock has rebounded from the two-year low of RM3.82 in late September last year. \u003C/p>\r\n\u003Cp> \u003C/p>",{"id":109,"name":110},[3129],{"id":14,"name":15},[],{"meta_title":3125,"meta_description":3132,"meta_keywords":28},"KUALA LUMPUR (Feb 19): Exceptional items, namely foreign exchange gain and fair value gain on derivative financial instrument, have propelled IOI Corp...",{"id":3134,"title":3135,"date":3136,"body":3137,"source":3138,"type":3139,"image":3141,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3144,"created_at":3144,"content_type":24,"related_news":3145,"metatag":3146},700,"Acidchem bags top green award","2015-12-15T00:00:00.000000Z","\u003Cbr />\u003Ctable align=\"center\" border=\"0\" width=\"100\">\r\n  \u003Ctbody>\u003Ctr>\r\n    \u003Ctd>\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/p2_sptd_1512nv_pg02n_nava_1.JPG\" height=\"403\" width=\"604\" />\u003Cbr />\u003C/td>\r\n  \u003C/tr>\r\n  \u003Ctr>\r\n    \u003Ctd style=\"text-align: center;\">\u003Cspan style=\"font-size: 8pt;\">Job well done: IOI Corporation Berhad chief executive officer Datuk Lee Yeow Chor (right) receiving the Prime Minister’s Hibiscus Award 2014-2015 award on behalf of Acidchem International from Dr Ahmad Zahid. Looking on are (from left) Business Council for Sustainability and Responsibility Malaysia (BCSRM) honorary president Datuk Kok Wee Kiat, Natural Resources and Environment Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar and Prime Minister’s Hibiscus Award organising committee chairman Tan Sri Mustafa Mansur.\u003C/span>\u003C/td>\r\n  \u003C/tr>\r\n\u003C/tbody>\u003C/table>\r\n\u003Cp>KUALA LUMPUR: Chemicals-based company Acidchem Interna­tional Sdn Bhd has been honoured with the “Excellent Achievement” recognition at the green-based Prime Minister’s Hibiscus Award ceremony.\u003C/p>\r\n\u003Cp>The wholly-owned subsidiary of IOI Oleochemical Industries Bhd, which belongs to IOI Group, also went home as the PMHA Challenge Trophy.\u003C/p>\r\n\u003Cp>The award was presented by Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi last night.\u003C/p>\r\n\u003Cp>Eco printing company Nets Printwork won an SME Award while energy company First Solar Malaysia won the Special Project Gold Medal award.\u003C/p>\r\n\u003Cp>Nanyang Siang Pau won an environmental journalism award for its coverage on Malaysia’s water resources with its series on “Fighting a Water War”.\u003C/p>\r\n\u003Cp>Written by reporter Tan Siew Ling, her work was chosen from 18 entries sent from nine print media agencies. \u003C/p>\r\n\u003Cp>Launched in 1996, the awards recognises green efforts by large, and small and medium enterprises (SMEs) in industrial and services sectors.\u003C/p>\r\n\u003Cp>Dr Ahmad Zahid said for the next ceremony the amount raised would be doubled with the Govern­ment matching it “ringgit for ringgit”.\u003C/p>\r\n\u003Cp>In his speech, he said the world was facing a climate change problem and that some island nations were in danger of being submerged in the future.\u003C/p>\r\n\u003Cp>He said over the next five years, Malaysia would work hard to reduce greenhouse gases and strengthen its resilience against climate change and natural disasters.\u003C/p>\r\n\u003Cp>“Our goal for a green economy and sustainable future also lies in how well we can reach out and integrate over 600,000 small and medium enterprises which are an integral part of the supply chain,” he said.\u003Cbr />\r\n\u003C/p>\r\n\u003Cp>\u003Cbr />\u003C/p>",{"id":10,"name":11},[3140],{"id":14,"name":15},{"name":3142,"file_name":3142,"url":3143},"p2_sptd_1512nv_pg02n_nava_1.JPG","https://www.ioigroup.com/storage/575/p2_sptd_1512nv_pg02n_nava_1.JPG","2025-05-02T09:52:35.000000Z",[],{"meta_title":3135,"meta_description":3147,"meta_keywords":28},"Job well done: IOI Corporation Berhad chief executive officer Datuk Lee Yeow Chor (right) receiving the Prime Minister’s Hibiscus Award 2014-2015 awar...",{"id":3149,"title":3150,"date":3151,"body":3152,"source":3153,"type":3154,"image":3156,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3159,"created_at":3159,"content_type":24,"related_news":3160,"metatag":3161},696,"IOI Corp hit by weakening ringgit and CPO price","2015-11-16T00:00:00.000000Z","\u003Cbr />\u003Ctable align=\"center\" border=\"0\" width=\"100\">\r\n  \u003Ctbody>\u003Ctr>\r\n    \u003Ctd>\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/doc6gmf65vyqaa1id2dqdi0.jpg\" height=\"364\" width=\"546\" />\u003C/td>\r\n  \u003C/tr>\r\n  \u003Ctr>\r\n    \u003Ctd style=\"text-align: center;\">\u003Cspan style=\"font-size: 8pt;\">The IOI group realised an average crude palm oil price of RM2,119 per tonne in the quarter under review, down from RM2,258 per tonne a year earlier.\u003C/span>\u003C/td>\r\n  \u003C/tr>\r\n\u003C/tbody>\u003C/table>\r\n\u003Cp>KUALA LUMPUR: The weaker ringgit and lower price of crude palm oil (CPO) have taken a toll on IOI Corp Bhd, as the planter posted one of its worst quarterly losses. \u003C/p>\r\n\u003Cp>The US dollar strengthened against the ringgit by 18% during the three months ended Sept 30, with the US dollar/ringgit exchange rate closing at a high of 4.4475 as of end-September 2015. \u003C/p>\r\n\u003Cp>“The ringgit depreciation has resulted in a non-cash flow net foreign currency translation loss of RM853.9mil on our foreign currency-denominated borrowings,” IOI Corp explained in its filing with Bursa Malaysia on Monday.\u003C/p>\r\n\u003Cp>This compares with a foreign exchange (forex) translation loss of RM52.2mil in the same quarter last year. \u003C/p>\r\n\u003Cp>IOI Corp made a loss of RM719mil in its first quarter ended Sept 30, 2015, from a net profit of RM176.7mil in the corresponding period last year. The diversified conglomerate registered a loss per share of 11.38 sen, compared with an earnings per share (EPS) of 2.78 sen previously.\u003C/p>\r\n\u003Cp>During the quarter in review, IOI Corp saw its revenue grow 3.1% to RM3.09bil from RM2.99bil in the previous corresponding period. \u003C/p>\r\n\u003Cp>In its filing with Bursa Malaysia, IOI Corp said earnings from its plantation segment fell 8% to RM258mil from RM281mil previously due to lower CPO prices. \u003C/p>\r\n\u003Cp>The group realised an average CPO price of RM2,119 per tonne in the three months ended September 2015, compared with RM2,258 per tonne in the corresponding period last year.\u003C/p>\r\n\u003Cp>It noted that excluding the aforesaid net foreign currency translation loss and the fair value loss on derivative financial instruments of RM202.8mil, the underlying pre-tax profit of RM402.7mil for the quarter in review would be 22% higher than the underlying pre-tax profit of RM331.3mil for the corresponding quarter last year, which was attributed mainly to an improved performance from its resource-based manufacturing segment.\u003C/p>\r\n\u003Cp>As for its resource-based manufacturing segment, the group said it expected its oleochemicals sub-segment to perform well, given the relatively low feedstock cost and higher glycerine price, while its specialty oils and fats sub-segment would also be expected to perform satisfactorily in view of the resilient demand from the food sector and the diversified locations of its production plants in the United States and Europe. \u003C/p>\r\n\u003Cp>Meanwhile, the group’s property arm, IOI Properties Group Bhd (IOI Prop), saw a 14.3% increase in net profit to RM115.48mil for the first quarter ended Sept 30, 2015, from RM101mil in the previous corresponding period on higher revenue. \u003C/p>\r\n\u003Cp>During the quarter in review, IOI Prop’s revenue increased 58.5% to RM595.26mil from RM375.52mil previously, driven by growth in its property development and investment business; and leisure, hospitality and other operations. The group’s EPS, however, fell marginally to 3.07 sen from 3.08 sen previously.\u003C/p>\r\n\u003Cp>IOI Corp gained 3 sen to RM4.17 at Monday’s close while IOI Prop ended the day unchanged at RM2.09.\u003C/p>",{"id":10,"name":11},[3155],{"id":14,"name":15},{"name":3157,"file_name":3157,"url":3158},"doc6gmf65vyqaa1id2dqdi0.jpg","https://www.ioigroup.com/storage/572/doc6gmf65vyqaa1id2dqdi0.jpg","2025-05-02T09:52:34.000000Z",[],{"meta_title":3150,"meta_description":3162,"meta_keywords":28},"The IOI group realised an average crude palm oil price of RM2,119 per tonne in the quarter under review, down from RM2,258 per tonne a year earlier. K...",{"id":3164,"title":3165,"date":3166,"body":3167,"source":3168,"type":3169,"image":3171,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3174,"created_at":3174,"content_type":24,"related_news":3175,"metatag":3176},695,"IOI Corp confident of remaining profitable in FY16","2015-10-28T00:00:00.000000Z","\u003Ctable align=\"center\" border=\"0\" width=\"100\">\r\n  \u003Ctbody>\u003Ctr>\r\n    \u003Ctd>\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/Peter-Chin-Fah-Kui_Lee-Shin-Cheng_Yeow-Chor_FD_28Oct15_theedgemarkets.png\" height=\"334\" width=\"658\" />\u003Cbr />\u003C/td>\r\n  \u003C/tr>\r\n  \u003Ctr>\r\n    \u003Ctd style=\"text-align: center;\">\u003Cspan style=\"font-size: 8pt;\">(From left) IOI Corp non-executive director Tan Sri Peter Chin Fah Kui, executive chairman Tan Sri Lee Shin Cheng and Yeow Chor.\u003C/span>\u003C/td>\r\n  \u003C/tr>\r\n\u003C/tbody>\u003C/table>\r\n\u003Cp>PUTRAJAYA: IOI Corp Bhd sees the effects of the dry El Niño conditions and haze cutting its production of oil palm fresh fruit bunch (FFB) by 10% from its normal level, but giving the much-needed support to crude palm oil (CPO) prices.\u003C/p>\r\n\u003Cp>“I do not see [lower crop production] having a negative impact on our profitability [for the financial year ending June 30, 2016 (FY16)]. There is a good chance [CPO prices] will go up [offsetting the 10% drop in FFB production],” IOI Corp chief executive officer Datuk Lee Yeow Chor told reporters after the company’s annual and extraordinary general meetings yesterday.\u003C/p>\r\n\u003Cp>Lee expects CPO prices to stabilise at current levels until the end of the year and start to pick up in the first quarter of next year. Lee, however, did not give a price target range.\u003C/p>\r\n\u003Cp>For FY16, IOI Corp has lowered its FFB production growth forecast to 3%-5% from 5%-7% previously.\u003C/p>\r\n\u003Cp>On its earnings for FY16, Lee said the outlook for the group remained positive, aided by its downstream activities which have exceeded expectations.\u003C/p>\r\n\u003Cp>“Our oleochemical segment has performed well in the last five to six months due to low palm kernel oil prices,” he said.\u003C/p>\r\n\u003Cp>“I am not sure how our [1QFY16 and FY16] results will be, but as I had mentioned earlier, we expect CPO prices to go up and this is good for the group,” Lee added.\u003C/p>\r\n\u003Cp>The benchmark January contract closed up 36 points at RM2,315 per tonne yesterday, from RM2,279 per tonne on Monday.\u003C/p>\r\n\u003Cp>IOI Corp is due to release its first-quarter results for the three months ended Sept 30, 2015 (1QFY16) on Nov 15.\u003C/p>\r\n\u003Cp>In a report last month, Maybank Investment Bank Research estimated that IOI Corp may sink into the red in 1QFY16, with a possible net loss of RM440 million due to an estimated RM670 million unrealised foreign exchange translation losses on its US dollar debt-related exposure of RM6.25 billion. The ringgit declined 16.5% to 4.395 against the US dollar during the third quarter of 2015.\u003C/p>\r\n\u003Cp>For FY15, the group saw its net profit plunge 95% to RM168.1 million from RM3.37 billion the previous year due to a net foreign currency translation loss on foreign currency-denominated borrowings of RM735.3 million.  Revenue for FY15 came in 2.43% lower at RM11.62 billion against RM11.91 billion in FY14.\u003C/p>\r\n\u003Cp>Lee also sees minimal impact from the increase in minimum wage come July 1, 2016, saying all of IOI Corp’s workers are already earning above the levels.\u003C/p>\r\n\u003Cp>From July 1, 2016, the national minimum wage will be increased from RM900 to RM1,000 per month for workers in Peninsular Malaysia and from RM800 to RM920 for those in Sabah, Sarawak and Labuan.\u003C/p>\r\n\u003Cp>Lee said even after stripping off the allowances and incentives, only some 15% to 20% of its total plantation work force of 25,000 are now earning the prevailing federal minimum wage.\u003C/p>\r\n\u003Cp>Using back-of-the-envelope calculations, assuming the increment is RM100 per worker, IOI Corp may have to fork out an additional RM4.5 million to RM6 million for its workers’ remuneration a year.\u003C/p>\r\n\u003Cp>Meanwhile, the weakening ringgit does not bode well for IOI Corp, putting further pressure on its translation loss as some 90% of its debt is  denominated in US dollars.\u003C/p>\r\n\u003Cp>Its total net debt stood at RM4.7 billion, while its gross debt was RM6 billion as at June 30, 2015.\u003C/p>\r\n\u003Cp>Lee, however, said its debt level will not affect the group’s cash for now, as 50% of the debt will only mature beyond 2022.\u003C/p>\r\n\u003Cp>“We can only see the exact impact in FY17 as the repayment will come in during that financial year,” he said.\u003C/p>\r\n\u003Cp>The weaker ringgit will also put pressure on its cost structure, Lee said, adding that every 20% rise in the US dollar against the ringgit will translate into a 3% rise in fertiliser cost. The fertiliser cost makes up 15% to 20% of the total cost of the group.\u003C/p>\r\n\u003Cp>“Currently, our cost of production stands at RM1,400 per tonne and the fertiliser cost for the next three months has been locked in,” he pointed out.\u003C/p>\r\n\u003Cp> \u003C/p>",{"id":109,"name":110},[3170],{"id":14,"name":15},{"name":3172,"file_name":3172,"url":3173},"peter_chin_fah_kui_lee_shin_cheng_yeow_chor_fd_28oct15_theedgemarkets.png","https://www.ioigroup.com/storage/571/peter_chin_fah_kui_lee_shin_cheng_yeow_chor_fd_28oct15_theedgemarkets.png","2025-05-02T09:52:33.000000Z",[],{"meta_title":3165,"meta_description":3177,"meta_keywords":28},"(From left) IOI Corp non-executive director Tan Sri Peter Chin Fah Kui, executive chairman Tan Sri Lee Shin Cheng and Yeow Chor. PUTRAJAYA: IOI Corp B...",{"id":3179,"title":3180,"date":3181,"body":3182,"source":3183,"type":3184,"image":3186,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3174,"created_at":3174,"content_type":24,"related_news":3189,"metatag":3190},694,"The Tree Whisperer","2015-10-24T00:00:00.000000Z","\u003Cbr />\u003Ctable align=\"center\" border=\"0\" width=\"100\">\r\n  \u003Ctbody>\u003Ctr>\r\n    \u003Ctd>\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/Tree_Whisperer.jpg\" />\u003Cbr />\u003C/td>\r\n  \u003C/tr>\r\n\u003C/tbody>\u003C/table>\r\n\u003Cp> \u003C/p>\r\n\u003Cp>IN the world of tycoons, Tan Sri Lee Shin Cheng (caricature) of IOI Corp Bhd is in the same league as Robert Kuok and T Ananda Krishnan.\u003C/p>\r\n\u003Cp>He makes it every year to the Forbes Rich List, and as of the latest instalment, sits at sixth position with a net wealth of US$4.6bil.\u003C/p>\r\n\u003Cp>The low-profile Lee has always been recognised as the palm oil man who has diversifed into other businesses over the years.\u003C/p>\r\n\u003Cp>However, with the relisting of IOI Properties Group Bhd (IOI Prop) in January last year, the investing community has been once again reminded of Lee’s might as a property man. \u003C/p>\r\n\u003Cp>Lee, the executive chairman and founder of IOI Corp, is the single-largest shareholder of both IOI Corp and IOI Prop, controlling some 51% of both companies. \u003C/p>\r\n\u003Cp>IOI Prop was demerged from IOI Corp and relisted separately on Jan 15, 2014 with a market capitalisation of RM8.13bil, making it the second-largest property player after UEM Sunrise Bhd back then. Today, it is the second-biggest property developer listed on Bursa Malaysia after SP Setia Bhd with a market cap of RM8.36bil. \u003C/p>\r\n\u003Cp>This is the second time IOI Prop has been listed. Prior to 2009, it also had a listing status, but was delisted because it could not get the valuations it deserved. Nonetheless, even back then, IOI Prop was the biggest property company in terms of profitability.\u003C/p>\r\n\u003Cp>While under parent IOI Corp, IOI Prop was the second-largest company in terms of operating profitability after SP Setia. \u003C/p>\r\n\u003Cp>Visit Lee in his “kingdom” of IOI City Mall and you will perhaps understand why he is a tycoon. It isn’t simply about the money he has made either. It is the aura Lee emanates – walk with him and you will see how crowds part like dominoes, staff stop to bow and doormen and waiters trip over themselves to open doors and get to position before Lee comes. That is how much Lee is revered. \u003C/p>\r\n\u003Cp>Lee came from humble beginnings. He had to stop schooling when he was 11 to help support his family. For four years, he rode his bicycle selling ice cream. Subsequently, he went back to school.\u003C/p>\r\n\u003Cp>During his young days as a planter, Lee was working mainly with the estate workers who were mainly Indians. His Tamil was so proficient that he once said that if people didn’t see his face, they would have thought that they were talking to an Indian! \u003C/p>\r\n\u003Cp>At 22, he applied for a job in palm oil company Dunlop Estate, but was rejected because of his poor English. Some 20 years later, he bought up the entire company!\u003C/p>\r\n\u003Cp>Today, IOI Corp, which is valued at RM27.4bil, is an integrated palm oil player with operations stretching across the entire oil palm value chain (from seedlings to diverse value-added manufacturing), serving markets in more than 65 countries.\u003C/p>\r\n\u003Cp>Lee is famed for his walkabouts in his vast plantations, during which time he talks and sings to his trees and encourages them to bloom. He calls the palm oil trees his “wife”. Many jokingly attribute IOI’s abundant yields to his sweet serenades.\u003C/p>\r\n\u003Cp>IOI Corp is a fully integrated company that undertakes the plantation and resource-based manufacturing businesses. The plantation business covers Malaysia and Indonesia with a landbank of more than 230,000 ha, making it one of the largest plantation owners in the industry.\u003C/p>\r\n\u003Cp>IOI Group owns four palm oil refineries, three located in Malaysia and one in the Netherlands, with a combined annual refining capacity of 3,300,000 tonnes.\u003C/p>",{"id":10,"name":11},[3185],{"id":14,"name":15},{"name":3187,"file_name":3187,"url":3188},"tree_whisperer.jpg","https://www.ioigroup.com/storage/570/tree_whisperer.jpg",[],{"meta_title":3180,"meta_description":3191,"meta_keywords":28},"  IN the world of tycoons, Tan Sri Lee Shin Cheng (caricature) of IOI Corp Bhd is in the same league as Robert Kuok and T Ananda Krishnan. He makes it...",{"id":3193,"title":3194,"date":3195,"body":3196,"source":3197,"type":3198,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3200,"created_at":3200,"content_type":24,"related_news":3201,"metatag":3202},688,"IOI to see better outlook in FY16","2015-09-23T00:00:00.000000Z","\u003Cp>KUCHING: Analysts had a meeting with IOI Corporation Bhd’s (IOI) management last week and noted that despite the current weak CPO prices, the company was least affected thanks to the exposure in downstream segment.\u003C/p>\r\n\u003Cp>Public Investment Bank Bhd’s research arm (PublicInvest Research) noted that excluding the effect of El Nino, management is projecting five per cent-seven per cent fresh fruit bunch (FFB) production growth for FY16.\u003C/p>\r\n\u003Cp>The group’s age profile is about 13 years old and it still has about 8,000 unplanted landbank in Indonesia, which will be completed by next year.\u003C/p>\r\n\u003Cp>“The company has come out with new palm oil seedlings, which could potentially bump up its current oil extraction rate (OER) from 22 per cent to 27 per cent. Currently, about 20,000 hectares (ha) has been planted with the new palm oil seedlings.\u003C/p>\r\n\u003Cp>“The group will gradually replant about six to eight thousand ha per annum in Malaysia with the new seedlings,” it said.\u003C/p>\r\n\u003Cp>Based on the latest audited results, excluding the Islamic debts, the total debt over total assets is about 30 per cent, which will enable the group to qualify for the shariah-compliant list again.\u003C/p>\r\n\u003Cp>Management guided about RM350 million capital expenditure (capex) for financial year 2016 (FY16), which is mainly used for infrastructure and new planting activities.\u003C/p>\r\n\u003Cp>“The construction of a 100,000 metric tonne (mt) specialty oils and fats plant in Xiamen has commenced and will be ready by June 2016.\u003C/p>\r\n\u003Cp>“On the cost structure, it expects to maintain its current cost of production of RM1,200 per mt and the fertiliser cost for the 1HFY16 has been locked in since beginning of this year,” it added.\u003C/p>\r\n\u003Cp>The group is looking for landbank opportunities in Indonesia given that it will complete its new planting activities in Indonesia by next year.\u003C/p>\r\n\u003Cp>Apart from that, it also tries to search for strategic tie-up with local players in South America and Russia for the downstream venture.\u003C/p>",{"id":241,"name":242},[3199],{"id":14,"name":15},"2025-05-02T09:52:31.000000Z",[],{"meta_title":3194,"meta_description":3203,"meta_keywords":28},"KUCHING: Analysts had a meeting with IOI Corporation Bhd’s (IOI) management last week and noted that despite the current weak CPO prices, the company...",{"id":3205,"title":3206,"date":3207,"body":3208,"source":3209,"type":3210,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3212,"created_at":3212,"content_type":24,"related_news":3213,"metatag":3214},687,"IOI Corp buying  oleochemicals biz in Germany for RM433m","2015-09-10T00:00:00.000000Z","\u003Cp>\u003Cbr />   KUALA  LUMPUR: IOI Corporation Bhd is buying Cremer Oleo GmbH & Co KG entire’s  oleochemicals business in Germany for 89.4mil euros (RM433.3mil) as it expands  its value chain.\u003C/p>\r\n\u003Cp>  The plantation heavyweight said on Thursday the oleochemical business’  production facilities were in Witten and Zur Hafenspitze.\u003C/p>\r\n\u003Cp>  “The production plant in Witten offers a broad array of mostly branded  oleochemical specialty products for the pharmaceutical, cosmetic, food and  performance chemicals markets worldwide. \u003C/p>\r\n\u003Cp>  “The Wittenberge plant provides high performance capacities for esterification  with multi-step short-path distillation, distillation and fractionation of  fatty acids and production of medium-chain triglycerides,” it said. \u003C/p>\r\n\u003Cp>  IOI Corp said both plants combined offered a processing capacity of  approximately 39,200 tonnes per annum.\u003C/p>\r\n\u003Cp>  It said the net book value of the assets (net of liabilities) based on the  latest audited financial statements for the financial year ended Dec 31, 2014  was 90.3mil euros.\u003C/p>\r\n\u003Cp>  IOI Corp said currently its oleochemicals division was one of the leading  oleochemical producers in the world. \u003C/p>\r\n\u003Cp>  “The proposed acquisition represents a timely and synergistic opportunity for  the group to move further up the value chain with an investment in more  specialised downstream oleochemical manufacturing business which has two  production plants and an established customer base comprising a number of  multinational and large European companies. \u003C/p>\r\n\u003Cp>  “The proposed acquisition will enable the group’s oleochemicals division to  expand into a new product range to serve the higher margin but difficult to  penetrate pharmaceutical, cosmetic, food and performance chemicals markets  worldwide. \u003C/p>\r\n\u003Cp>  It will also establish new production sites in the centre of the European  Union, taking advantage of close proximity to key markets in Western Europe and  emerging ones in Eastern Europe. In addition, this also mitigates the increased  import tariff on Malaysian oleochemical into EU post Generalised Scheme of  Preferences (GSP) withdrawal in 2014. \u003C/p>\r\n\u003Cp>  “Lastly, the proposed acquisition will enable the transfer of advanced  technical, research and development, application development and process  know-how back to Malaysia and benefiting the existing oleochemical production  sites within the Group’s oleochemicals division,” IOI Corp said. \u003C/p>",{"id":10,"name":11},[3211],{"id":14,"name":15},"2025-05-02T09:52:30.000000Z",[],{"meta_title":3206,"meta_description":3215,"meta_keywords":28},"   KUALA LUMPUR: IOI Corporation Bhd is buying Cremer Oleo GmbH & Co KG entire’s oleochemicals business in Germany for 89.4mil euros (RM433.3mil) as i...",{"id":3217,"title":3218,"date":3219,"body":3220,"source":3221,"type":3222,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3212,"created_at":3212,"content_type":24,"related_news":3224,"metatag":3225},686,"Weaker ringgit affects IOI Corp earnings","2015-08-25T00:00:00.000000Z","\u003Cp>\u003Cbr />PETALING JAYA: Despite registering higher revenue, IOI Corp Bhd’s  net profit fell 60.8% to RM159.7mil for the fourth quarter ended June 30, 2015,  from RM407.5mil in the previous corresponding period due mainly to lower  contribution from its plantation segment, as well as a net foreign currency  translation loss.\u003C/p>\r\n\u003Cp>  During the quarter in review, the plantation conglomerate’s  revenue rose 3.9% to RM2.94bil from RM2.83bil. Its earnings per share (EPS)  fell to 2.52 sen from 6.42 sen previously.\u003C/p>\r\n\u003Cp>  In a statement, IOI said its plantation profit fell 26%  year-on-year (y-o-y) to RM235.8mil during the quarter in review due to the  lower crude palm oil (CPO) price realised, which averaged at RM2,197 per tonne,  compared with RM2,661 per tonne previously.\u003C/p>\r\n\u003Cp>  The group’s resource-based manufacturing profit, on the other  hand, fell 4% y-o-y to RM99.1mil due to lower margins from the refinery  sub-segment, moderated by better margins from the specialty oils and fats sub-segment.\u003C/p>\r\n\u003Cp>  During the quarter in review, IOI posted a net foreign currency  translation loss of RM76.8mil, compared with a gain of RM83.9mil in the  corresponding quarter last year, on foreign currency-denominated borrowings.\u003C/p>\r\n\u003Cp>  IOI has proposed a second interim dividend of 4.5 sen per share,  thus bringing the total dividend proposed for the financial year ended June 30,  2015 (FY15), to nine sen per share.\u003C/p>\r\n\u003Cp>  “Although the operating environment in Malaysia and the Asian  region has become more challenging, we expect our overall operating performance  to be satisfactory,” IOI said in a statement.\u003C/p>\r\n\u003Cp>  It pointed out that the implementation of the B15 Biodiesel  programme in Indonesia and the likelihood of severe dry weather in the coming  months would help to counter the current weak CPO sentiment caused by soft  soybean prices and the expectation of seasonally higher production of oil palm  fruits. \u003C/p>\r\n\u003Cp>  “We expect the CPO price to stay mostly flat during the next three  months,” IOI said, while adding that it would continue to pursue cost  efficiency and higher productivity for its plantation operations and leverage  on its sustainability record and the synergy with its downstream operations to  extract higher value add for its CPO and palm kernel produce.\u003C/p>\r\n\u003Cp>  In the resource-based manufacturing segment, IOI said it would  expect its specialty oils and fats sub-segment to perform well, given the  geographical spread of its operations, especially in the United States and  Europe. Its oleochemicals sub-segment would also perform satisfactorily with  the lower palm kernel raw material cost and higher glycerine price.\u003C/p>\r\n\u003Cp>  However, IOI said the volatility of the dollar-ringgit exchange  rate would continue to be reflected in the group’s translation gains/losses,  arising from its medium to long-dated US dollar-denominated borrowings. \u003C/p>\r\n\u003Cp>  For the full year, IOI’s net profit was 95% lower at RM168.1mil,  compared with RM3.37bil in FY14. \u003C/p>\r\n\u003Cp>  The significant decline in the group’s earnings was mainly  attributable to lower contributions from both its plantation and resource-based  manufacturing segments, as well as a net foreign currency translation loss.\u003C/p>\r\n\u003Cp>  During the year in review, the group’s net foreign currency  translation loss widened to RM735.3mil from RM22mil in the preceding year due  to the weaker ringgit.\u003C/p>\r\n\u003Cp>  For financial year 2015, IOI’s EPS stood at 2.64 sen, compared  with 52.93 sen in the preceding year.\u003C/p>\r\n\u003Cp>  The group saw its revenue fall 2.4% to RM11.62bil from RM11.91bil  previously.\u003C/p>",{"id":10,"name":11},[3223],{"id":14,"name":15},[],{"meta_title":3218,"meta_description":3226,"meta_keywords":28},"PETALING JAYA: Despite registering higher revenue, IOI Corp Bhd’s net profit fell 60.8% to RM159.7mil for the fourth quarter ended June 30, 2015, from...",{"id":3228,"title":3229,"date":3230,"body":3231,"source":3232,"type":3233,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3212,"created_at":3212,"content_type":24,"related_news":3235,"metatag":3236},685,"IOI Corp FY15 earnings impacted by net forex losses, lower CPO","2015-08-24T00:00:00.000000Z","\u003Cp>\u003Cbr />  KUALA LUMPUR: Plantation  heavyweight IOI Corporation Bhd posted a set of subdued earning for the  financial year ended June 30, 2015 as it was impacted by foreign currency  translation losses and the slump in crude palm oil (CPO) prices.\u003C/p>\r\n\u003Cp>  It announced on Monday its FY15 earnings were only RM168mil compared with  RM3.37bil in FY15. There was a net foreign currency translation loss on foreign  currency denominated borrowings of RM735.30mil in FY15.\u003C/p>\r\n\u003Cp>  IOI Corp said profit before interest and tax  fell 24.2% to RM1.460bil  compared with RM1.927bil a year ago due mainly to lower contribution from both  plantation and resource-based manufacturing segments. \u003C/p>\r\n\u003Cp>  Its revenue was down by just 2.4% to RM11.62bil compared with a year ago.\u003C/p>\r\n\u003Cp>  “The plantation profit of RM1.00bil for FY2015 is 15% lower than RM1.18bil  reported for FY2014. The lower profit for FY2015 is due mainly to lower CPO  price realised of which the average CPO price realised for FY2015 was RM2,221  per tonne as compared to RM2,509 for FY2014,” it explained.\u003C/p>\r\n\u003Cp>  IOI Corp said its resource-based manufacturing profit fell 47% to RM420.40mil  in FY2015 from  RM787.30mil in FY14. \u003C/p>\r\n\u003Cp>  “The lower profit is due mainly to unrealised fair value loss in foreign  currency forward exchange contracts arising from a weaker Ringgit amounting to  RM119mil (FY2014 – gain of RM79.8mil),” it said.\u003C/p>\r\n\u003Cp>  It added the forward exchange contracts were entered into as a hedge to protect  the Ringgit denominated margin of the manufacturing business. \u003C/p>\r\n\u003Cp> However, when excluding the unrealised fair value loss/gain in foreign currency  forward exchange contracts for both FY2015 and FY2014 respectively, the  underlying profit for resource-based manufacturing segment of RM539.4mil for  FY2015 fell 24% compared with RM707.50mil in FY14. \u003C/p>\r\n\u003Cp>  IOI Corp said this was mainly due to lower margin from the oleochemicals and  the refinery sub-segments as well as lower sales volume from the refinery  sub-segment.\u003C/p>\r\n\u003Cp>  For the fourth quarter ended June 30, 2015, its reported earnings fell 60.8% to  RM159.70mil from RM407.50mil a year ago as it was impacted by net foreign  currency translation losses of RM76.80mil compared with a gain of RM83.90mil a  year ago.\u003C/p>\r\n\u003Cp>  Its profit before interest and tax was lower by 19% to RM334.40mil from  RM413.20mil a year ago due mainly to lower contribution from plantation  segment. \u003C/p>\r\n\u003Cp>  Earnings per share were 2.52 sen compared with 6.42 sen.\u003C/p>\r\n\u003Cp>  “The plantation profit decreased by 26% to RM235.8mil for Q4 FY15 as compared  to RM318.6mil reported for Q4 FY14,” it said. \u003C/p>\r\n\u003Cp>  It explained the lower profit was due mainly to lower CPO price realised at  RM2,197 compared to RM2,661 a  year ago.\u003C/p>\r\n\u003Cp>  As for the resource-based manufacturing profit, the profit fell 4% to RM99.1mil  from RM103.7mil mainly due to lower margin from the refinery sub-segment,  moderated by better margin from specialty oils and fats sub-segment.\u003C/p>\r\n\u003Cp>  Excluding the net foreign currency translation loss of RM76.8mil (Q4 FY14 –  gain of RM83.9mil), the underlying pre-tax profit fell 20% to RM280.1mil from  RM349.1mil a year ago due mainly to lower plantation profit as mentioned above.\u003C/p>\r\n\u003Cp>  It rewarded shareholders with a second interim single tier dividend of 45% or  4.5 sen per 10 sen share which will go ex on Sept 8.\u003C/p>",{"id":10,"name":11},[3234],{"id":14,"name":15},[],{"meta_title":3229,"meta_description":3237,"meta_keywords":28},"  KUALA LUMPUR: Plantation heavyweight IOI Corporation Bhd posted a set of subdued earning for the financial year ended June 30, 2015 as it was impact...",{"id":3239,"title":3240,"date":3241,"body":3242,"source":3243,"type":3244,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3246,"created_at":3246,"content_type":24,"related_news":3247,"metatag":3248},494,"IOI Corp Q3 net losses at RM188m on forex loss","2015-05-14T00:00:00.000000Z","\u003Cp>KUALA LUMPUR: Plantation heavyweight IOI Corporation Bhd posted a surprising net loss of RM188mil in the third quarter ended March 31, 2015. \u003C/p>\r\n\u003Cp>The company said on Thursday there was a foreign exchange translation loss of RM332.7mil in the quarter.\u003C/p>\r\n\u003Cp>This was a sharp contrast to the net profit of RM2.176bil a year ago when there was a forex translation gain of RM43.6mil. The previous quarter also benefited from the one-off net gain arising from demerger exercise of RM1.83bil.\u003C/p>\r\n\u003Cp>Loss per share was 2.95 sen compared with earnings per share of 34.20 sen.\u003C/p>\r\n\u003Cp>Loss before tax was RM109.20mil compared with profit before tax of RM460mil. During the quarter, revenue was lower at RM2.776bil compared with RM2.899bil.\u003C/p>\r\n\u003Cp>For the nine months ended March 31, 2015, its earning slumped to RM8.20mil from the RM2.965bil in the previous corresponding period. The sharp fall was due to the forex translation losses of RM658.50mil compared with losses of RM105.90mil a year ago.\u003C/p>\r\n\u003Cp>Profit before tax was RM253.60mil compared with RM1.237bil. Revenue was lower at RM8.679bil from RM9.079bil\u003C/p>",{"id":10,"name":11},[3245],{"id":14,"name":15},"2025-05-02T09:51:42.000000Z",[],{"meta_title":3240,"meta_description":3249,"meta_keywords":28},"KUALA LUMPUR: Plantation heavyweight IOI Corporation Bhd posted a surprising net loss of RM188mil in the third quarter ended March 31, 2015. The compa...",{"id":3251,"title":3252,"date":3253,"body":3254,"source":3255,"type":3258,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3260,"created_at":3260,"content_type":24,"related_news":3261,"metatag":3262},460,"Empowering shea farmers","2015-04-01T00:00:00.000000Z","\u003Cp>\r\n  The Hershey Company has announced its partnership with IOI Loders Croklaan, a global shea butter supplier, to fund the construction of three warehouses in Northern Ghana that will improve incomes for women shea farmers and positively impact their livelihoods.\u003C/p>\r\n\u003Cp>  Hershey and IOI Loders Croklaan will provide funding to StarShea, a social business that commercialises shea butter supplied by its network of rural Ghanaian women, to construct three warehouses allowing the women’s co-operative to store shea nuts throughout the season, which will help increase the women’s profit for their shea crop.\u003C/p>\r\n\u003Cp>“We know that empowering women provides economic growth opportunities and helps alleviate extreme poverty. Women in Northern Ghana are producing high quality shea, and they deserve a fair price for their crop. Supporting women in shea is yet another positive step toward gender equality in West Africa,” says Frank Day, vice president of global commodities, The Hershey Company.\u003C/p>\r\n\u003Cp>Female shea producers have limited access to the capital they need to sustain their lives and business. StarShea will now be able to give women access to much needed cash earlier in the shea season by buying their shea nuts at a premium at the beginning of the season and storing them in warehouses until they are sold to IOI Loders Croklaan and ultimately The Hershey Company.\u003C/p>\r\n\u003Cp>“We are pleased to be partnering with The Hershey Company, who shares our commitment to responsible sourcing and improving the livelihoods of women in West Africa,” says Joost-van Ginneken, IOI Loders Croklaan, Supply Chain Manager Africa.\u003C/p>\r\n\u003Cp>“Since 2012, we have been StarShea’s most important global customer and we are thrilled to grow our relationship with them. The work they do supporting female shea producers is extremely important to the growth of the entire African continent.”\u003Cbr />\r\n\u003C/p>",{"id":3256,"name":3257},72,"www.confectioneryproduction.com",[3259],{"id":14,"name":15},"2025-05-02T09:51:34.000000Z",[],{"meta_title":3252,"meta_description":3263,"meta_keywords":28},"The Hershey Company has announced its partnership with IOI Loders Croklaan, a global shea butter supplier, to fund the construction of three warehouse...",{"id":3265,"title":3266,"date":3267,"body":3268,"source":3269,"type":3270,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3272,"created_at":3272,"content_type":24,"related_news":3273,"metatag":3274},190,"IOI sees CPO price in RM2,150-RM2,370 range","2015-02-14T00:00:00.000000Z","\u003Cp>It expects wet weather to drive down palm oil output and stock.\u003C/p>\r\n\u003Cp>KUALA LUMPUR: IOI Corp Bhd, whose net profit plunged to RM19.6mil in the second quarter ended Dec 31, 2014, expects crude Palm Oil (CPO) to hover within the range of RM2,150 to RM2,370 per tonne over the next two months.\u003C/p>\r\n\u003Cp>The plantation giant said this was underpinned by the wet-weather induced lower production and lower stock but capped by the record high soybean production.\u003C/p>\r\n\u003Cp>In the medium term, CPO price is expected to be supported by the Indonesia’s move to increase its biofuel subsidy and the expected increase in palm oil consumption after the abnormally cold Northern Hemisphere winter.\u003C/p>\r\n\u003Cp>IOI Corp’s net profit dropped steeply in the second quarter mainly due to higher net foreign currency translation loss.\u003C/p>\r\n\u003Cp>“The group pre-tax profit for second quarter to Dec 31, 2014 amounting to RM94.6mil is 65% lower than RM268.3mil in the preceding quarter attributable mainly to higher net foreign currency translation loss on foreign currency denominated borrowings.\u003C/p>\r\n\u003Cp>“Excluding the net foreign currency translation loss of RM273.6mil on foreign currency denominated borrowings, the underlying pre-tax profit of RM368.2mil for second quarter is 15% higher than the underlying pre-tax profit of RM320.5mil for first quarter ended Sept 30, 2014,” IOI Corp said in the notes accompanying its financial results.\u003C/p>\r\n\u003Cp>IOI Corp said the expected volatility of dollar-ringgit exchange rate would continue to impact the non-cashflow forex translation gains or losses on mostly medium- to long-dated US dollar-denominated borrowings in its reported results.\u003C/p>\r\n\u003Cp>“However, we expect the group’s underlying performance for the remaining financial period of 2015 to be satisfactory,” it said.\u003C/p>\r\n\u003Cp>Going forward, IOI Corp said its Indonesian plantation subsidiary was expected to increase its fresh fruit bunch (FFB) production substantially due to the young age profile of its trees. The completion of its oil mill in Indonesia during the first quarter of the financial year 2015 (FY15) will help to increase the efficiency and profitability to its Indonesian operations.\u003C/p>\r\n\u003Cp>“In addition, we also expect higher contribution from our associate in Indonesia, Bumitama Agri Ltd in view of their increasing FFB production as their palm trees enter prime age. In the resource-based manufacturing segment, the group expects its specialty oils and fats and oleochemicals sub-segments to perform satisfactorily given the resilient demand from both the food and oleochemicals sectors,” IOI Corp said.\u003C/p>\r\n\u003Cp>In the second quarter, revenue slipped marginally to RM2.88bil from RM2.93bil while earnings per share were 0.31 sen compared with 7.62 sen. IOI Corp declared an interim dividend of 4.5 sen compared with eight sen a year ago.\u003C/p>\r\n\u003Cp>Commenting on its second-quarter financial performance, IOI Corp said its plantation profit fell 4% to RM297.3mil compared with RM310.2mil a year earlier. The lower profit was due mainly to lower crude palm oil (CPO) and palm kernel prices realised, mitigated by higher CPO extraction rate.\u003C/p>\r\n\u003Cp>IOI Corp said average CPO price realised for the second quarter FY15 was RM2,187 a tonne, compared with RM2,424 previously.\u003C/p>\r\n\u003Cp>As for the resource-based manufacturing, excluding the unrealised fair value loss in foreign currency forward exchange contracts for both second quarter FY15 and second quarter in FY14, the underlying profit for resource-based manufacturing segment slipped 19% to RM215mil from the underlying profit of RM265mil.\u003C/p>\r\n\u003Cp>“The lower resource-based manufacturing underlying profit is mainly due to lower margin from oleochemicals sub-segment,” it explained.\u003C/p>\r\n\u003Cp>For the first six months ended Dec 31, 2014, IOI Corp’s earnings slumped 75.1% to RM196.2mil from RM788.9mil in the previous corresponding period. Its revenue for the period fell 277% to RM5.9bil from RM6.17bil.\u003C/p>",{"id":10,"name":11},[3271],{"id":14,"name":15},"2025-05-02T09:50:50.000000Z",[],{"meta_title":3266,"meta_description":3275,"meta_keywords":28},"It expects wet weather to drive down palm oil output and stock. KUALA LUMPUR: IOI Corp Bhd, whose net profit plunged to RM19.6mil in the second quarte...",{"id":3277,"title":3278,"date":3279,"body":3280,"source":3281,"type":3282,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3272,"created_at":3272,"content_type":24,"related_news":3284,"metatag":3285},191,"IOI Corp Q2 earnings slump on forex translation losses","2015-02-13T00:00:00.000000Z","\u003Cp>KUALA LUMPUR: IOI Corporation Bhd’s earnings fell sharply to RM19.60mil in the second quarter ended Dec 31, 2014 from RM487.10mil a year ago due to net foreign exchange (forex) losses.\u003C/p>\r\n\u003Cp>The plantation heavyweight said on Friday it sustained a net foreign currency translation loss on foreign currency borrowings totaling RM273.60mil, a sharp contrast from the losses of only RM7.5mil a year ago. This saw its pre-tax profit for Q2 FY2015 slump to RM94.6mil from RM487.3mil a year ago. \u003C/p>\r\n\u003Cp>“Excluding the net foreign currency translation loss of RM273.6mil on foreign currency denominated borrowings, the underlying pre-tax profit of RM368.2mil for Q2 FY2015 was 26% lower than the underlying pre-tax profit of RM494.8mil for Q2 FY2014, which is due mainly to lower segmental profit,” it said.\u003C/p>\r\n\u003Cp>IOI Corp's segmental profit fell 26% to RM431.2mil from RM581mil a year ago due to the forex losses arising from weaker ringgit from the resource-based manufacturing segment of RM105.4mil (Q2 FY2014 – loss of RM5.2mil).\u003C/p>\r\n\u003Cp>“Excluding the unrealised fair value loss in foreign currency forward exchange contracts for both Q2 FY2015 and Q2 FY2014, the underlying segmental profit of RM536.6mil for Q2 FY2015 is 8% lower than the underlying profit of RM586.2mil for Q2 FY2014,” it said.\u003C/p>\r\n\u003Cp>Its revenue slipped 1.9% to RM2.881bil from RM2.939bil. Earnings per share were 0.31 sen compared with 7.62 sen. It declared an interim dividend of 4.5 sen compared with eight sen a year ago.\u003C/p>\r\n\u003Cp>Commenting on the financial performance, it said the plantation profit fell 4% to RM297.3mil compared to RM310.2mil a year ago.  The lower profit was due mainly to lower crude palm oil (CPO) and palm kernel (PK) prices realised, mitigated by higher CPO extraction rate. \u003C/p>\r\n\u003Cp>IOI Corp said average CPO price realised for Q2 FY2015 was RM2,187 a tonne as compared to RM2,424 a year ago.\u003C/p>\r\n\u003Cp>As for the resource-based manufacturing, excluding the unrealised fair value loss in foreign currency forward exchange contracts for both Q2 FY2015 and Q2 FY2014, the underlying profit for resource-based manufacturing segment slipped 19% to RM215mil from the underlying profit of RM265mil.\u003C/p>\r\n\u003Cp>“The lower resource-based manufacturing underlying profit is mainly due to lower margin from oleochemicals sub-segment,” it explained.\u003C/p>\r\n\u003Cp>For the first half ended Dec 31, 2014, it earnings slumped 75.1% to RM196.20mil from RM788.90mil in the previous corresponding period. \u003C/p>\r\n\u003Cp>Pre-tax profit fell 53% to RM362.9mil from RM777.8mil due to net foreign currency translation loss on foreign currency denominated borrowings amounting to RM325.8mil. Revenue fell 277% to RM5.9bil from RM6.18bil.\u003C/p>\r\n\u003Cp>IOI Corp reported segmental profit of RM848.3mi from its continuing operations, 20% lower than the segmental profit of RM1.0637bil.\u003C/p>\r\n\u003Cp>The decline was mainly due to unrealised fair value loss in foreign currency forward exchange contracts arising from weaker Ringgit from the resource-based manufacturing segment amounting to RM123.8mi (Q2 YTD FY2014 – gain of RM6.5mil).\u003C/p>\r\n\u003Cp>“Excluding the unrealized fair value loss in foreign currency forward exchange contracts for both Q2 YTD FY2015 and Q2 YTD FY2014, the underlying segmental profit of RM972.1 million for Q2 YTD FY2015 is 8% lower than the underlying profit of RM1.0572bil for Q2 YTD FY2014,” it explained.\u003C/p>\r\n\u003Cp>The plantation profit of RM578.3mil was 3% higher than RM560.3mil in the previous corresponding period due mainly to higher fresh fruit bunches (FFB) production, better CPO extraction rate, and lower operating costs incurred, offset by lower CPO price realised.\u003C/p>\r\n\u003Cp>As for resource-based manufacturing, excluding the unrealised fair value loss in foreign currency forward exchange contracts for both periods, the underlying profit for the segment was RM342.2mil in  Q2 YTD FY2015 compared with the underlying profit of RM471.9mil a year ago. This is mainly due to lower margin from both the refinery and oleochemicals subsegments.\u003C/p>",{"id":10,"name":11},[3283],{"id":14,"name":15},[],{"meta_title":3278,"meta_description":3286,"meta_keywords":28},"KUALA LUMPUR: IOI Corporation Bhd’s earnings fell sharply to RM19.60mil in the second quarter ended Dec 31, 2014 from RM487.10mil a year ago due to ne...",{"id":3288,"title":3289,"date":3290,"body":3291,"source":3292,"type":3293,"image":3295,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3298,"created_at":3298,"content_type":24,"related_news":3299,"metatag":3300},179,"On mission to feed flood victims","2015-02-03T00:00:00.000000Z","\u003Ctable align=\"center\" cellpadding=\"6\" cellspacing=\"5\">\r\n\u003Ctbody>\r\n\u003Ctr>\r\n\u003Ctd>\r\n\u003Cdiv align=\"center\">\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/metd_0302_12prioi_kkeeran_1.JPG\" />\u003C/div>\r\n\u003C/td>\r\n\u003C/tr>\r\n\u003Ctr>\r\n\u003Ctd>\r\n\u003Cdiv align=\"center\">\u003Cspan style=\"font-size: 8pt;\">Ever-willing to assist: Volunteers sharing a light moment as they help out at one of the 12 packing stations.\u003C/span>\u003C/div>\r\n\u003C/td>\r\n\u003C/tr>\r\n\u003C/tbody>\r\n\u003C/table>\r\n\u003Cp>A TOTAL of 160 volunteers from IOI Group came together at IOI City Mall Putrajaya to pack 70,000 meals in less than two hours.\u003C/p>\r\n\u003Cp>The meal packets worth RM70,000 were sponsored by IOI Group as part of the IOI-Stop Hunger Now’s Meal Packaging Event 2015.\u003C/p>\r\n\u003Cp>The nutritious meals were distributed to flood victims by Malaysian Red Crescent Society (MRCS) and the Kelantan Foundation For The Disabled, more commonly known as Yokuk Foundation.\u003C/p>\r\n\u003Cp>“IOI is pleased to partner the Stop Hunger Now Charitable Association in this meal-packing event to raise awareness on the global hunger epidemic besides doing our part in support of our fellow Malaysians affected by the recent floods.\u003C/p>\r\n\u003Cp>“The event also marks our continuous drive in pursuing meaningful community partnerships and making a positive presence in the environment in which we operate in,” said IOI Corporation Bhd chief executive officer Datuk Lee Yeow Chor.\u003C/p>\r\n\u003Cp>Stop Hunger Now Charitable Association, an international hunger relief agency, created its meal packaging programme in 2005, which involved the packing of rice, soy, dehydrated vegetables and a flavouring mix, including 23 essential vitamins and minerals, into small meal packets to be distributed to those in need.\u003C/p>\r\n\u003Cp>At the event, the volunteers were divided into 12 groups, with each group of 13 people manning an assembly line in the meal packaging process.\u003C/p>\r\n\u003Cp>Teamwork was the order of the day to reach the goal of 70,000 meal packets.\u003C/p>\r\n\u003Cp>A gong sounded at every 10,000th meal packed. Within two hours, the grand sound of the gong signalled “Mission Accomplished” and there were cheers from everyones.\u003C/p>\r\n\u003Cp>“Volunteerism is very much encouraged within the core of IOI Group, and today’s turnout has validated our CSR effort in bridging our employees to the needs of the community.\u003C/p>\r\n\u003Cp>“Some even brought their spouses and children to help, and I am very much encouraged to see the enthusiasm in every one,” said Lee.\u003C/p>\r\n\u003Cp>He later presented the packed meals to MRCS and Yokuk Foundation representatives.\u003C/p>\r\n\u003Cp>Lee also presented a mock cheque for RM70,000 to Stop Hunger Now Charitable Association president Tiki Keh, who expressed his gratitude to IOI Group for supporting the global movement to end hunger.\u003C/p>\r\n\u003Cp>This event formed a part of IOI Group’s CSR initiatives.\u003C/p>\r\n\u003Cp>Most of the group’s corporate philanthropy activities are undertaken by the IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), a charitable foundation fully funded by the group.\u003C/p>",{"id":10,"name":11},[3294],{"id":14,"name":15},{"name":3296,"file_name":3296,"url":3297},"metd_0302_12prioi_kkeeran_1.JPG","https://www.ioigroup.com/storage/421/metd_0302_12prioi_kkeeran_1.JPG","2025-05-02T09:50:49.000000Z",[],{"meta_title":3289,"meta_description":3301,"meta_keywords":28},"Ever-willing to assist: Volunteers sharing a light moment as they help out at one of the 12 packing stations. A TOTAL of 160 volunteers from IOI Group...",{"id":3303,"title":3304,"date":3305,"body":3306,"source":3307,"type":3308,"image":3310,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3298,"created_at":3298,"content_type":24,"related_news":3313,"metatag":3314},180,"IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) Adopts 330 Students and Provides RM404,276 Financial Aid","2015-01-28T00:00:00.000000Z","\u003Ctable align=\"center\" cellpadding=\"10\" cellspacing=\"10\">\r\n\u003Ctbody>\r\n\u003Ctr>\r\n\u003Ctd>\r\n\u003Cdiv style=\"text-align: center;\">\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/f0oskpon.jpg\" />\u003C/div>\r\n\u003C/td>\r\n\u003C/tr>\r\n\u003C/tbody>\r\n\u003C/table>\r\n\u003Cp>PUTRAJAYA: A total of 330 students from 169 primary and secondary schools in Peninsular Malaysia and Sabah received RM404,276 worth of sponsorship under IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng)’s IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) Student Adoption Programme (SAP) this year.\u003C/p>\r\n\u003Cp>A group of 74 students from 14 adopted schools in Klang Valley received their cheques and school bags from the IOI Corporation Berhad Chief Executive Officer Dato’ Lee Yeow Chor and IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) Executive Director Datin Joanne Wong during today’s Presentation Ceremony held at the Palm Garden Hotel, IOI Resort City. Also present were the principals, headmasters, teachers of the respective schools and IOI Group’s senior management.\u003C/p>\r\n\u003Cp>The SAP forms a part of the CSR initiatives by IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), a charitable foundation fully funded by IOI Group. Under the SAP, the adopted students from primary schools will each receive a financial assistance of RM800 while secondary school students will get RM1,000 until he or she completes their primary and secondary education. Each of the students will also receive a school bag every year.\u003C/p>\r\n\u003Cp>Since the initiative was introduced in 2008, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) has assisted 780 students from 202 schools in Malaysia. These students from lower income families were given equal access to a good basic education and were motivated to excel in their studies, as SAP also helped to ease their families’ financial burdens.\u003C/p>\r\n\u003Cp>IOI Group, as IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng)’s sole funder, remains committed to the foundation’s efforts. “As our business continues to thrive, we must not forget the underprivileged community to whom we, as a socially-responsible organisation, must lend a helping hand. We strongly believe in the power of education to break the cycle of poverty and lift them to a better standard of living. With the right attitude and determination, these students can go on to achieve greater things in life,” said Dato’ Lee.\u003C/p>\r\n\u003Cp>Dato’ Lee also conveyed his appreciation to the schools for their assistance as he presented SAP Certificates to the 14 participating schools, entrusting them to manage the contributions and monitor the students’ education progress.\u003C/p>\r\n\u003Cp>Students were recommended by the schools’ principal and headmaster based on their good academic results and priorities were given to those from difficult family backgrounds. Each submission was thoroughly screened by the foundation’s committee to ensure that the funds reach the deserving students.\u003C/p>\r\n\u003Cp>Other IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) programmes include the Young Achievers’ Awards, School Adoption Programme, charity visits, and collaborations with non-profit organisations such as HUMANA (Borneo Child Aid Society) and World Vision Malaysia in supporting the education of estate workers’ children and native children, respectively, in East Malaysia. These projects are in line with IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng)’s objectives to give educational and medical assistance for the betterment of society, the environment and community welfare.\u003C/p>",{"id":1002,"name":1003},[3309],{"id":241,"name":564},{"name":3311,"file_name":3311,"url":3312},"f0oskpon.jpg","https://www.ioigroup.com/storage/422/f0oskpon.jpg",[],{"meta_title":3304,"meta_description":3315,"meta_keywords":28},"PUTRAJAYA: A total of 330 students from 169 primary and secondary schools in Peninsular Malaysia and Sabah received RM404,276 worth of sponsorship und...",{"id":3317,"title":3318,"date":3319,"body":3320,"source":3321,"type":3322,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3324,"created_at":3324,"content_type":24,"related_news":3325,"metatag":3326},59,"IOI Corp Appoints Chin Independent & Non Executive Director","2014-12-01T00:00:00.000000Z","\u003Cp>KUALA LUMPUR, Dec 1 (Bernama) -- IOI Corp Bhd has appointed Tan Sri Peter Chin Fah Kui as an independent and non-executive director of the company, effective Monday.\u003C/p>\r\n\u003Cp>In a filing to Bursa Malaysia, the company said Chin is also designated as senior independent non-executive director.\u003C/p>\r\n\u003Cp>Chin, 69, has held various senior positions in the Malaysian government administration from 1986 until his retirement in May 2013.\u003C/p>\r\n\u003Cp>He was Energy, Green Technology and Water Minister prior to his retirement and previously the Plantation Industries and Commodities minister.\u003C/p>\r\n\u003Cp>Chin was also Miri Municipal Council chairman in 1984 and Member of Parliament for Lambir and Miri constituencies in Sarawak from 1986 to 2013.\u003C/p>\r\n\u003Cp>He was appointed as Special Advisor to Malaysia Green Technology Corp since November 2013.\u003C/p>\r\n\u003Cp>-- BERNAMA\u003C/p>",{"id":560,"name":561},[3323],{"id":14,"name":15},"2025-05-02T09:50:38.000000Z",[],{"meta_title":3318,"meta_description":3327,"meta_keywords":28},"KUALA LUMPUR, Dec 1 (Bernama) -- IOI Corp Bhd has appointed Tan Sri Peter Chin Fah Kui as an independent and non-executive director of the company, ef...",{"id":3329,"title":3330,"date":3331,"body":3332,"source":3333,"type":3334,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3336,"created_at":3336,"content_type":24,"related_news":3337,"metatag":3338},55,"IOI Corp Q1 earnings down 41% to RM176m","2014-11-17T00:00:00.000000Z","\u003Cp>KUALA LUMPUR: IOI Corporation Bhd’s earnings slumped 41.4% to RM176.70mil in the first quarter ended Sept 30, 2014 from the RM307.70mil a year ago following the demerger of its properties business and lower contribution from its resource-based manufacturing segment.\u003C/p>\r\n\u003Cp>The plantation heavyweight said on Monday its revenue fell 6.7% to RM3.02bil from RM3.24bil. Earnings per share were 2.78 sen compared with 4.72 sen.\u003C/p>\r\n\u003Cp>Elaborating on its results, it said the lower earnings were due mainly to the cessation of profit contribution from the property related business in the just-ended quarter following the demerger (Q1, FY2014 – RM119.7mil).\u003C/p>\r\n\u003Cp>However, IOI Corp said the decline was moderated by lower translation loss on foreign currency denominated borrowings.\u003C/p>\r\n\u003Cp>“Excluding the effect from the demerger and translation difference on foreign currency denominated borrowings for both Q1 FY2015 and Q1 FY2014, the underlying profit of RM268.9mil for Q1 FY2015 is 24% lower than the underlying profit of RM352.1mil for Q1 FY2014. \u003C/p>\r\n\u003Cp>“This is mainly due to lower contribution from resource-based manufacturing segment, mitigated by higher contribution from plantation segment,” it said.\u003C/p>\r\n\u003Cp>IOI Corp said the plantation profit increased by 12% to RM281mil for Q1 FY2015, as compared to RM250.1mil a year ago. The higher profit is due mainly to higher fresh fruit bunches (FFB) production as well as higher palm kernel prices realised. \u003C/p>\r\n\u003Cp>“FFB production for Q1 FY2015 was 967,202 tonnes as compared to 875,835 tonnes for Q1 FY2014, that is an increase of about 10%,” it said.\u003C/p>\r\n\u003Cp>However, IOI Corp’s resource-based manufacturing profit of RM108.8mil for Q1 FY2015 was 50% lower than RM218.6mil a year ago mainly due to lower margin as well as lower sales volume from oleochemicals and refinery sub-segments.\u003C/p>\r\n\u003Cp>When compared with the preceding quarter ended June 30, 2014 (Q4 FY2014), the profit of RM180.6mil was 55% lower than the RM402.7mil. The lower profit is due mainly to the translation loss of RM88.3mil on foreign currency denominated borrowings recorded in Q1 FY2015 as compared to a gain of RM101.3mil in Q4 FY2014, coupled with the absence of RM52.4mil one-off gain arising from the demerger of the property business recognised in the preceding quarter.\u003C/p>\r\n\u003Cp>“Excluding the translation difference on foreign currency denominated borrowings for both the Q1 FY2015 and Q4 FY2014 and the effect from demerger, the underlying profit of RM268.9mil for Q1 FY2015 is 8% higher than the underlying profit of RM249.0mil for Q4 FY2014,” it said.\u003C/p>\r\n\u003Cp>The main reasons were due to a fair value gain on unallocated derivative financial instruments of RM36.1mil in Q1 FY2015 as opposed to fair value loss of RM17.4mil in Q4 FY2014.\u003C/p>\r\n\u003Cp>This was offset by lower profit from plantation segment with lower CPO and PK prices, mitigated by a 16% increase in FFB production. Average CPO price realised for Q1 FY2015 was RM2,258 a tonne as compared to RM2,661 a tonne for Q4 FY2014. \u003C/p>\r\n\u003Cp>\u003Cbr />\u003C/p>",{"id":10,"name":11},[3335],{"id":14,"name":15},"2025-05-02T09:50:37.000000Z",[],{"meta_title":3330,"meta_description":3339,"meta_keywords":28},"KUALA LUMPUR: IOI Corporation Bhd’s earnings slumped 41.4% to RM176.70mil in the first quarter ended Sept 30, 2014 from the RM307.70mil a year ago fol...",{"id":3341,"title":3342,"date":3343,"body":3344,"source":3345,"type":3346,"image":3348,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3336,"created_at":3336,"content_type":24,"related_news":3351,"metatag":3352},51,"IOI Corp boss projects up to RM2,600 CPO price per tonne by 1H15","2014-10-30T00:00:00.000000Z","\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/TS_301014.jpg\" alt=\"\" />\u003C/div>\u003Cdiv align=\"center\">\u003Cspan style=\"font-size: 10px;\">IOI Corp Bhd executive chairman Tan Sri Lee Shin Cheng (right) and CFO Kevin Wong browsing the group's annual report after its AGM. \u003C/span>\u003C/div>\r\n  \r\n\r\n\u003Cp>PUTRAJAYA: IOI Corp Bhd, which foresees crude palm oil (CPO) prices improving following the announcement of the nationwide implementation of the B7 biodiesel, expects CPO prices to hover in at RM2,300 to RM2,600 per tonne by the first half of 2015.\u003C/p>\r\n\u003Cp>"It is very significant," its executive chairman Tan Sri Lee Shin Cheng said, when asked if the implementation of the mandate would reduce stockpile by much, after the group's AGM here yesterday,\u003C/p>\r\n\u003Cp>The country will increase the amount of palm oil in biodiesel from 5% to 7% from November, boosting the domestic use of biodiesel to 575,000 tonnes a year, working to reduce inventory of CPO and help improve palm oil prices currently hovering at RM2,200 per tonne.\u003C/p>\r\n\u003Cp>With the anticipated record high soybean crop harvest in the US, the group expects CPO price to stay at the current level in the near term before trending higher towards the end of 2014, when palm oil production enters its seasonal lows and Malaysia implements the B7 biodiesel mandate.\u003C/p>\r\n\u003Cp>"This year it (CPO price) is cyclical, sometimes it's up and down. Looks like it'll be moving sideways until year-end," said Lee.\u003C/p>\r\n\u003Cp>Given the prevailing low CPO price, the group expects more demand to come from the biodiesel and biofuel sector. The US Food and Drug Administration's announcement of an impending ban on trans fat is also expected to result in higher demand for palm oil imports into the US in the short to medium term.\u003C/p>\r\n\u003Cp>Meanwhile, Lee said the group is actively in talks with international players for potential joint ventures (JV).\u003C/p>\r\n\u003Cp>"We're still looking at it (JV). We have to have international players (as partners). Local players do not have the technology. It's only discussion (stage) now," adding that JV talks are unlikely to conclude in the financial year ending June 30, 2015 (FY15).\u003C/p>\r\n\u003Cp>He added that the group is concentrating on its plantation operations in Malaysia and Indonesia, and is unlikely to expand to other countries.\u003C/p>\r\n\u003Cp>"Other countries, such as South Africa, are difficult, too far, and politically unstable. Locally, there's no land. Our latest (acquisition) is Unico-Desa (acquired Unico-Desa Plantations Bhd in 2013)," he said.\u003C/p>\r\n\u003Cp>As at June 30, 2014, the group's total planted area, excluding that owned by associate companies, stood at 175,131ha with 99% of the area planted with oil palm. The group has 89 estates.\u003C/p>\r\n\u003Cp>About 66% of the group's palm oil plantation holdings are in East Malaysia, 25% in Peninsular Malaysia and the remaining 9% in Indonesia.\u003C/p>\r\n\u003Cp>He said Indonesia's prospects for the plantation company looks good with a new President who is pro-business, as well as the foreign ownership cap in plantation companies that did not happen. Overall Indonesia provides lower costs and higher yields, said Lee.\u003C/p>\r\n\u003Cp>Its subsidiary group PT Sawit Nabati Agro in Indonesia plans to increase its planted area to 20,000ha by year-end, from 16,000ha currently. In addition, the group expects to commission a palm oil mill in the third quarter of FY15.\u003C/p>\r\n\u003Cp>The group expects a significantly higher contribution from Bumitama Agri Ltd (BAL) as more of their young palm trees reach optimum production age. BAL has 150,000ha of planted oil palm areas and eight CPO mills with a total processing capacity of 3 million MT per year. The average age of the oil palm trees is only about six years, which gives a lot of potential for yield increases in the coming years.\u003C/p>\r\n\u003Cp>With the increase in mature hectares coupled with higher yielding oil palm trees replanted during the last few years, the group is confident that its fresh fruit bunch yield and oil extraction rate will see a continuous improvement during the next few years.\u003C/p>",{"id":1804,"name":1805},[3347],{"id":14,"name":15},{"name":3349,"file_name":3349,"url":3350},"ts_301014.jpg","https://www.ioigroup.com/storage/385/ts_301014.jpg",[],{"meta_title":3342,"meta_description":3353,"meta_keywords":28},"IOI Corp Bhd executive chairman Tan Sri Lee Shin Cheng (right) and CFO Kevin Wong browsing the group's annual report after its AGM. PUTRAJAYA: IOI Cor...",{"id":3355,"title":3356,"date":3343,"body":3357,"source":3358,"type":3359,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3336,"created_at":3336,"content_type":24,"related_news":3361,"metatag":3362},52,"IOI Corp upbeat on Indonesian ventures","\u003Cp>PUTRAJAYA: IOI Corp Bhd is optimistic that its Indonesia’s ventures will begin contributing significantly to the group within the short to medium term, especially on the back of the recent inauguration of the country’s new president Joko Widodo.\u003C/p>\r\n\u003Cp>The fully-integrated upstream and downstream player in the palm oil industry currently has 89 estates totaling 174,061ha, with nine per cent located in Indonesia.\u003C/p>\r\n\u003Cp>“We are always looking to expand our presence in Indonesia, given the republic’s attractive operational low costs and high yields. We expect higher contribution from our Indonesian investment with Bumitama Agri Ltd, as more of its young palm trees reach optimum production age,” said executive chairman Tan Sri Lee Shin Cheng during a press conference, here, yesterday.\u003C/p>\r\n\u003Cp>“We have another company in Indonesia, PT Sawit Nabati Agro, and over the last three years, have planted 16,000ha. We expect to have a total of 20,000ha of oil palm plantations by year-end and this will help increase earnings in the near term,” he said.\u003C/p>\r\n\u003Cp>Lee is unconcerned with the downward turn of the crude palm oil (CPO) price as it is part of its natural cyclical phase.\u003C/p>\r\n\u003Cp>“With the anticipated record high soyabean corp harvest in the United States, we expect the CPO price to stay at the current level in the near term before trending higher towards year-end when palm oil production enters its seasonal low and Malaysia implements the B7 biodiesel mandate nationwide,” he said.\u003C/p>\r\n\u003Cp>The group is in discussions with international players to expand its palm oil integrated business.\u003C/p>\r\n\u003Cp>“We are in talks with international players as they have the technology that we are seeking but results of these discussions will not be reflected in the 2015 financial year,” said Lee.\u003C/p>\r\n\u003Cp>IOI Corp started the construction of Johor-based 35,000-sq m factory in August 2013 through its joint venture with Japanese processed food and chemical maker Adeka Corporation’s Adeka Foods (Asia) Sdn Bhd and it was fully operational last month.\u003C/p>\r\n\u003Cp>IOI holds a 40 per cent stake in the joint venture, while the remaining stake belongs to Adeka Corp.\u003Cbr />\r\n\u003C/p>",{"id":53,"name":54},[3360],{"id":14,"name":15},[],{"meta_title":3356,"meta_description":3363,"meta_keywords":28},"PUTRAJAYA: IOI Corp Bhd is optimistic that its Indonesia’s ventures will begin contributing significantly to the group within the short to medium term...",{"id":616,"title":3365,"date":3366,"body":3367,"source":3368,"type":3369,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3336,"created_at":3336,"content_type":24,"related_news":3371,"metatag":3372},"IOI Expects CPO Prices To Increase Next Year","2014-10-29T00:00:00.000000Z","\u003Cp>PUTRAJAYA, Oct 29 (Bernama)-- IOI Corp Bhd, a fully-integrated upstream and downstream player in the palm oil industry, foresees the crude palm oil (CPO) price increasing in the first quarter of next year to between the RM2,300 and RM2,600 levels.\u003C/p>\r\n\u003Cp> Executive Chairman Tan Sri Lee Shin Cheng said the current trend was part of the CPO business' nature, with prices fluctuating.\u003C/p>\r\n\u003Cp> "With the anticipated record high soybean corp harvest in the United States, we expect the CPO price to stay at the current level in the near term, before trending higher towards year-end, when palm oil production enters its seasonal low and Malaysia implements the B7 biodiesel mandate nationwide," he added.\u003C/p>\r\n\u003Cp> He said given the prevailing low CPO price, the company expects more demand to come from the biodiesel and biofuel sector.\u003C/p>\r\n\u003Cp> "The US Food and Drug Administration's announcement of an impending ban on trans-fats will also result in higher demand for palm oil imports into the country in the short to medium term," Lee told reporters after the company's annual general meeting here today.\u003C/p>\r\n\u003Cp> Going forward, he said the group expects a significantly higher contribution from its Indonesian investment, Bumitama Agri Ltd, as more of its young palm trees reach optimum production age.\u003C/p>\r\n\u003Cp> "We have another company in Indonesia, PT Sawit Nabati Agro, and over the last three years, have planted 16,000 hectares. We expect to have a total of 20,000 hectares of oil palm plantations by year-end and this will help increase earnings in the near term, Lee added.\u003Cbr />\r\n\u003C/p>",{"id":560,"name":561},[3370],{"id":14,"name":15},[],{"meta_title":3365,"meta_description":3373,"meta_keywords":28},"PUTRAJAYA, Oct 29 (Bernama)-- IOI Corp Bhd, a fully-integrated upstream and downstream player in the palm oil industry, foresees the crude palm oil (C...",{"id":3375,"title":3376,"date":3366,"body":3377,"source":3378,"type":3379,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3381,"created_at":3381,"content_type":24,"related_news":3382,"metatag":3383},69,"IOI Corp shareholders okay demerger","\u003Cp>PUTRAJAYA: IOI Corp Bhd has received shareholders' nod for the demerger of its property arm, IOI Properties Bhd, said group executive chairman, Tan Sri Lee Shin Cheng.\r\n\u003C/p>\u003Cp>  Lee said upon completion of the exercise, IOI Properties would be listed on Kuala Lumpur Stock Exchange in January next year. \r\n\u003C/p>\u003Cp>\"We are now at the final stage and we have received approvals from the Securities Commission and Bursa Malaysia for the listing,\" he told reporters after the extraordinary general meeting here today.\r\n\u003C/p>\u003Cp>  He said after the de-merger exercise, IOI Corp would receive a revenue of about RM1.9bil.\r\n\u003C/p>\u003Cp>\"IOI Corp would use part of the money to redeem the bond worth US$500 million and the balance would be for working capital,\" he said.\r\n\u003C/p>\u003Cp>  Lee said the IOI Properties currently contributed about 30% to 40% in revenue to IOI Corp.\r\n\u003C/p>\u003Cp>  He said after the listing, there would be two separate companies plantation and integrated downstream plantations company (IOI Corp) and property company (IOI Properties).\r\n\u003C/p>\u003Cp>\"After the listing the IOI Corp would focus on plantation business and would enhance its participation in the downstream activities which would give more value added to the company,\" he said.- Bernama\r\n\u003C/p>\u003Cp>\r\n\u003C/p>",{"id":560,"name":561},[3380],{"id":14,"name":15},"2025-05-02T09:50:39.000000Z",[],{"meta_title":3376,"meta_description":3384,"meta_keywords":28},"PUTRAJAYA: IOI Corp Bhd has received shareholders' nod for the demerger of its property arm, IOI Properties Bhd, said group executive chairman, Tan Sr...",{"id":3386,"title":3387,"date":3388,"body":3389,"source":3390,"type":3391,"image":3393,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3336,"created_at":3336,"content_type":24,"related_news":3396,"metatag":3397},48,"TSH, IOI said to have best CPO yield","2014-10-09T00:00:00.000000Z","\u003Ctable align=\"center\" border=\"0\" height=\"38\" width=\"200\">\r\n  \u003Ctbody>\u003Ctr>\r\n    \u003Ctd height=\"34\">\u003Cdiv style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/ioi_plantation_best.jpg\" alt=\"\" />\u003Cbr />\u003C/div>\u003C/td>\r\n  \u003C/tr>\r\n  \r\n\u003C/tbody>\u003C/table>\r\n\r\n\u003Cp>PETALING JAYA: Malaysian plantation companies TSH Resources Bhd and IOI Corp Bhd have the best crude palm oil (CPO) yield for 2013, according to Maybank Kim Eng Research. \r\n\u003C/p>\r\n\r\n\u003Cp>IOI Corp also remained one of the most profitable plantation groups on the research house’s list, although the group dropped to third spot, while TSH made it to the list of top-five most profitable planters.\u003C/p>\r\n\u003Cp>Maybank KE said 2013 was a tree stress year for some plantation groups, as fresh fruit bunch (FFB) yield fell for First Resources Ltd, IJM Plantations Bhd, Golden Agri Resources Ltd, Ta Ann Holdings Bhd and PT Astra Agro Lestari Tbk (AALI). \u003C/p>\r\n\u003Cp>“In terms of the best yield achieved by the groups on our list, TSH posted the best CPO yield for 2013 at 5.3 tonnes per ha, boosted by its high FFB yield of 25.3 tonnes a ha and oil extraction rate of 21%. \u003C/p>\r\n\u003Cp>“This was followed by IOI Corp (5.1 tonnes per ha) and Kuala Lumpur Kepong Bhd (KLK) (4.8 tonnes per ha). The bottom-three spots were occupied by Kencana Agri at 3.3 tonnes per ha, Sarawak Oil Palms Bhd (3.4 tonnes per ha) and Boustead Plantations Bhd (3.6 tonnes per ha),” the research house said.\u003C/p>\r\n\u003Cp>In terms of profitability, Singapore’s First Resources retained its top spot on Maybank KE’s list as the most profitable upstream plantation group in 2013, with an earnings before interest and tax of about RM9,620 per ha, partly supported by its locked-in sales at high prices. \u003C/p>\r\n\u003Cp>Singapore-listed Bumitama Agri Ltd (BAL) moved up one spot from 2012 at the expense of IOI Corp, which dropped to third spot. TSH’s improved FFB yield have propelled the group to the top-five position. \u003C/p>\r\n\u003Cp>By inference, Maybank KE said “the more profitable groups have the lower cost structure per tonne of CPO and could weather the current low CPO price” better than their peers. \u003C/p>\r\n\u003Cp>Nevertheless, Maybank KE said the top-five listed oil palm planters in the world in 2013 remained unchanged from 2012, with Sime Darby Bhd (525,000ha) taking the top position, followed by Golden Agri (371,000ha), Felda Global Ventures Holdings Bhd (FGV) (335,000ha), Wilmar International Ltd (241,000ha) and Indofood Agri (239,000ha).\u003C/p>\r\n\u003Cp>“Overall, the top-10 planters account for slightly under 20% of the total oil palm planted area globally,” the research house said. \u003C/p>\r\n\u003Cp>Maybank KE noted that integrated players with downstream operations, diversified players and relatively low-cost producers, including IOI Corp, Sime Darby, First Resources, KLK and BAL, were least sensitive to CPO price changes.\u003C/p>\r\n\u003Cp>“Those that have purer upstream exposure and relatively high all-in cost of production (per tonne) are the most leveraged due to either their relatively lower oil yield or higher cost base. They include TH Plantations Bhd, FGV, Boustead Plantations, AALI and Ta Ann, whereby for every RM100 per tonne change in the CPO average selling price (on a full-year basis), their earnings, we estimate, would change by 10%-13%,” Maybank KE said.\u003Cbr />\r\n\u003C/p>",{"id":10,"name":11},[3392],{"id":14,"name":15},{"name":3394,"file_name":3394,"url":3395},"ioi_plantation_best.jpg","https://www.ioigroup.com/storage/384/ioi_plantation_best.jpg",[],{"meta_title":3387,"meta_description":3398,"meta_keywords":28},"PETALING JAYA: Malaysian plantation companies TSH Resources Bhd and IOI Corp Bhd have the best crude palm oil (CPO) yield for 2013, according to Mayba...",{"id":3400,"title":3401,"date":3402,"body":3403,"source":3404,"type":3405,"image":3407,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3410,"created_at":3336,"content_type":24,"related_news":3411,"metatag":3412},47,"Sustainability the way forward for palm oil industry","2014-09-30T00:00:00.000000Z","\u003Cp>KUCHING: For every industry, sustainability is a key word in safeguarding a stable future.\u003C/p>\u003Cp>\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/pic031014_1.jpg\" alt=\"\" border=\"1\">\u003C/p>\u003Cp>Being one of the biggest producers and exporters of palm oil and palm oil products, Malaysia has an important role to play in fulfilling the global’s world’s growing need for oils and fats.\u003C/p>\u003Cp> \u003C/p>\u003Cp>\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/pic031014_2.jpg\" alt=\"\" border=\"1\">\u003C/p>\u003Cp>These environment-friendly practices at Pamol Estate are further extended to harvesting of FFBs where a herd of buffaloes is employed to collect the fruits on the field. Aplasami explained that currently there are about 50 heads of buffaloes in the estate.\u003C/p>\u003Cp>It has now become an integral objective for major businesses and industries worldwide. Consumers and investors are also growing more conscious about the operational impact companies or industries have on society and the environment.\u003C/p>\u003Cp>For agro-based industries such as palm oil, sustainability goes beyond crunching high numbers in growth and profits. It has become a responsibility for oil palm companies to identify ways and solutions to grow the industry while maintaining the rich biodiversity of the environment and being socially responsible to the local communities.\u003C/p>\u003Cp>One such company practising sustainable production of palm oil is IOI Corp. IOI Corp is one of the major growers of oil palm in Malaysia; having more than 91 oil palm estates spanning across Malaysia and Indonesia. About 66 per cent of its estate areas are located in East Malaysia.\u003C/p>\u003Cp>Being a member of the Roundtable on Sustainable Palm Oil, IOI Corp has embedded sustainability and corporate responsibility in its core values, policy statements and work practices across its global operations.\u003C/p>\u003Cp>During a recent trip to Johor, The Borneo Post was given the chance to visit a tour of Pamol Estate in Kluang, one of IOI Corp’s high performance estates where high-yielding, fast growing oil palm clones have already been planted.\u003C/p>\u003Cp>According to Aplasami, the estate manager of East Pamol Estate, the high yielding clones have been replanted in the estate to further boost productivity, covering to almost 60 per cent of the estate’s area.\u003C/p>\u003Cp>He added that his estate’s annual productivity has regularly surpassed the national average of about 19 tonnes of fresh fruit bunches.\u003C/p>\u003Cp>“Pamol Estate also adopts integrated pest management via biological means such as the use of barn owls and a natural sex hormone to control oil palm’s pests,” he explained.\u003C/p>\u003Cp>“Barn owls are a natural predator for rats, which are ever present in an oil palm estate. A pair of barn owls with chicks is capable of killing 2,000 rats per year; minimissing the use of poisons and baits which target other animal species too.”\u003C/p>\u003Cp>Meanwhile, pheromones is used to attract rhinoceros beetles, mostly females, into a trap.\u003C/p>\u003Cp>These beetles feed and breed inside the oil palm trunks and they become a big problem especially during the replanting process when the old trunks are felled and left on the ground.\u003C/p>\u003Cp>Once trapped, the beetles will soon die and later recycled as a natural fertiliser to the oil palm trees.\u003C/p>\u003Cp>These environment-friendly practices at Pamol Estate are further extended to harvesting of FFBs where a herd of buffaloes is employed to collect the fruits on the field. Aplasami explained that currently there are about 50 heads of buffaloes in the estate.\u003C/p>\u003Cp>“These buffaloes are well trained and cared for including a regular check up by a veterinarian,” he added. “The use of buffaloes helps the estate to reduce consumption on fossil fuels and further improve its carbon footprint performance.”\u003C/p>\u003Cp>Malaysia currently accounts for 34 per cent of global palm oil production and 41 per cent of global palm oil exports. If taken into account of other oils & fats produced globally, Malaysia accounts for 11 per cent and 26 per cent of the total production and exports, respectively.\u003C/p>\u003Cp>Being one of the biggest producers and exporters of palm oil and palm oil products, Malaysia has an important role to play in fulfilling the global’s world’s growing need for oils and fats. It is therefore crucial for the Malaysian industry to ensure that its palm oil is sustainably and responsibly produced.\u003C/p>\u003Cp>The trip to IOI Corp’s Pamol Estate indeed proves that sustainable practices are engaged rife within in the Malaysian palm oil industry.\u003C/p>",{"id":241,"name":242},[3406],{"id":14,"name":15},{"name":3408,"file_name":3408,"url":3409},"pic031014_1.jpg","https://www.ioigroup.com/storage/383/pic031014_1.jpg","2025-06-16T08:35:16.000000Z",[],{"meta_title":3401,"meta_description":3413,"meta_keywords":28},"KUCHING: For every industry, sustainability is a key word in safeguarding a stable future.Being one of the biggest producers and exporters of palm oil...",{"id":3415,"title":3416,"date":3417,"body":3418,"source":3419,"type":3420,"image":3422,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3425,"created_at":3425,"content_type":24,"related_news":3426,"metatag":3427},43,"Baby-friendly blend","2014-08-23T00:00:00.000000Z","\u003Ctable border=\"0\" align=\"center\" width=\"200\">\r\n  \u003Ctbody>\u003Ctr>\r\n    \u003Ctd>\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/dsykne1z.JPG\" />\u003Cbr />\u003C/td>\r\n  \u003C/tr>\r\n  \u003Ctr>\r\n    \u003Ctd>\u003Cdiv align=\"center\">\u003Cspan style=\"font-size: 10px;\">Van Sallandt anticipates that Health Ministry approval for Betapol, which has been distributed in 14 countries, will be issued by the end of this year.\u003C/span>\u003C/div>\u003C/td>\r\n  \u003C/tr>\r\n\u003C/tbody>\u003C/table>\r\n\u003Cp>TUCKED away in an industrial area in Pasir Gudang, Johor, is IOI Loders Croklaan Oils Sdn Bhd’s specialty oils and fats plant. \u003C/p>\r\n\u003Cp>Amid the metallic structures that sit on the 9ha plot, where the strong and sharp aroma of crude palm oil permeates the air, lies a division – Betapol – that caters specifically to the needs of babies. \u003C/p>\r\n\u003Cp>Invented in 1986 by IOI Loders Croklaan, Betapol is a blend of natural vegetable oils for infant formula which mimics the fat composition and structure of the major fats in breast milk.\u003C/p>\r\n\u003Cp>Mother’s milk plays a huge role in an infant’s growth, as it contains the ideal mix of nutrients, as well as proteins and fat. In fact, the fat content in breast milk provides for 50% of an infant’s total energy intake. \u003C/p>\r\n\r\n\u003Cp>The problem arises when breastfeeding is not possible. How then can a mother ensure that her baby get the appropriate and necessary nutrition? This is where Betapol comes in. \u003C/p>\r\n\u003Cp>\u003Cstrong>Final approval\u003C/strong>\u003C/p>\r\n\u003Cp>The Betapol division, which currently takes up 2.8ha at the Pasir Gudang plant, can produce 10,000 tonnes of the product per year.\u003C/p>\r\n\u003Cp>IOI Loders Croklaan chief operating officer Michael van Sallandt says there is still room to expand to 20,000 tonnes per year, and potentially up to 30,000 tonnes annually. \u003C/p>\r\n\u003Cp>However, the company which is the downstream processing division of IOI Corp Bhd has yet to receive approval from the Health Ministry. \u003C/p>\r\n\u003Cp>During a recent visit to the factory and IOI Corp’s plantation and mill, Sallandt says he is confident that by the end of this year, the company will receive the green light from the Ministry to distribute the product here. \u003C/p>\r\n\u003Cp>“We are at the very last step of getting the final approval,” he says. \u003C/p>\r\n\u003Cp>Betapol has been approved in many countries including in Europe, the United States, China, Australia and New Zealand, with Indonesia and India added to the list last year. Commercial infant formula products containing Betapol are now available in 14 countries. \u003C/p>\r\n\u003Cp>\u003Cstrong>Market share\u003C/strong>\u003C/p>\r\n\u003Cp>Besides the Pasir Gudang factory, Betapol is also produced in the Netherlands. \u003C/p>\r\n\u003Cp>IOI Loders Croklaan is in the process of building another factory in Xiamen, China, to cater for its existing and potential new clients there. \u003C/p>\r\n\u003Cp>The Xiamen factory will be a specialty fats plant with a capacity of 100,000 tonnes and is targeted to be commissioned in 2016. \u003C/p>\r\n\u003Cp>The RM180mil Xiamen factory on a 6.5-ha plot will produce oils and fats for chocolate confectionery, bakery and margarine industries. It will also have the facilities to complete the Betapol product.\u003C/p>\r\n\u003Cp>The production of Betapol will be concentrated in Pasir Gudang, then shipped to China where the final blending, refining and packing and distribution will be done in Xiamen.\u003C/p>\r\n\u003Cp>“It will put us in an even better position to gain more market share in China,” says Sallandt.\u003C/p>\r\n\u003Cp>He says the company is preparing for growth between 10% and 20% a year, for Betapol alone. \u003C/p>\r\n\u003Cp>“Besides Betapol, there is only one other similar product available in the market, which is important as most companies need two suppliers of such a critical ingredient. Both producers share the global market equally,” says IOI Loders Croklaan Asia R&D director for nutritional lipids Dr Youchun Yan.\u003C/p>\r\n\u003Cp>Sallandt says the company intends to invest more in Betapol.\u003C/p>\r\n\u003Cp>“The infant formula market is a strategic growth market for IOI Loders Croklaan and we will continue to invest further,” he says. \u003C/p>\r\n\u003Cp>\u003Cstrong>Fat structure\u003C/strong>\u003C/p>\r\n\u003Cp>According to Yan, 30% of Betapol is made up of fat, which is translated to 50% of an infant’s energy uptake. \u003C/p>\r\n\u003Cp>The fat in breast milk contains specific triglycerides of palmitic and oleic acid (O-P-O triglycerides), while fats in general are composed in the structure of P-O-P instead. \u003C/p>\r\n\u003Cp>This structural difference has a profound impact on an infant’s digestion, absorption and metabolism of nutrients, which affects the infant’s growth. \u003C/p>\r\n\u003Cp>It also often leads to constipation, hard stools, and low calcium and fat uptake. \u003C/p>\r\n\u003Cp>“Using milk fat as reference, Betapol is a non-conventional vegetable fat that matches almost the fatty acid composition of human milk fat,” says Yan. \u003C/p>\r\n\u003Cp>By changing the composition of the fatty acids, Yan says efficacy studies for Betapol showed that there were increases in calcium absorption, fat absorption, softer stools, as well as higher bone mineral density and content. \u003C/p>\r\n\u003Cp>“In constipated infants, constipation was corrected 90% of the time on Betapol formula versus 50% on conventional infant formula,” Yan adds. \u003Cbr />\r\n\u003C/p>",{"id":10,"name":11},[3421],{"id":14,"name":15},{"name":3423,"file_name":3423,"url":3424},"dsykne1z.JPG","https://www.ioigroup.com/storage/382/dsykne1z.JPG","2025-05-02T09:50:36.000000Z",[],{"meta_title":3416,"meta_description":3428,"meta_keywords":28},"Van Sallandt anticipates that Health Ministry approval for Betapol, which has been distributed in 14 countries, will be issued by the end of this year...",{"id":3430,"title":3431,"date":3432,"body":3433,"source":3434,"type":3435,"image":3437,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3425,"created_at":3425,"content_type":24,"related_news":3440,"metatag":3441},42,"IOI Corp's earnings jump to RM3.37b","2014-08-20T00:00:00.000000Z","\u003Cdiv style=\"text-align: center;\">\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/theStar200814.jpg\" />\u003Cbr /> \u003C/div>\r\n\u003Cp>KUALA LUMPUR: Plantation heavyweight IOI Corporation Bhd's earnings rose 70.9% to RM3.373bil in the financial year ended June 30, 2014 from RM1.973bil in the previous financial year, boosted by a one-time gain of RM1.89bil.\u003C/p>\r\n\u003Cp>It said on Wednesday the significant increase was due mainly to the gain of RM1.89bil arising from the demerger of the property business from the group.\u003C/p>\r\n\u003Cp>However, this was moderated by translation loss of RM40.3mil on foreign currency denominated borrowings as compared to a translation gain of RM191.4mil a year ago.\u003C/p>\r\n\u003Cp>\"Excluding the non-recurring items and translation difference above, the group's operating profit from its continuing operations for FY2014 of RM1.945bil is 19% higher than the operating profit of RM1.631bill reported for FY2013, mainly due to higher contribution from all business segments,\" it said.\u003C/p>\r\n\u003Cp>IOI Corp said the plantation segment reported a higher profit of RM1.185bil for FY2014 as compared to RM1.055bil for FY2013. The higher profit was mainly due to higher crude palm oil (CPO) and palm kernel prices realised as well as higher fresh fruit bunches (FFB) production.\u003C/p>\r\n\u003Cp>\"Average CPO price realised for FY2014 was RM2,509 a tonne as compared to RM2,433 a tonne for FY2013,\" it said.\u003C/p>\r\n\u003Cp>The group's resource-based manufacturing segment' profit rose 30% to RM787.30mil in FY2014 when compared with RM607.80mil in FY2013.\u003C/p>\r\n\u003Cp>\"The increase in profit is due mainly to higher margin and increase in sales volume from oleochemicals and specialty oils and fats sub-segments,\" it said.\u003C/p>\r\n\u003Cp>However, its revenue slipped 2.3% to RM11.91bil from RM12.198bil a year ago.\u003C/p>\r\n\u003Cp>In the fourth quarter ended June 30, 2014, its earnings increased 50.5% to RM407.50mil from RM270.70mil. Its revenue was down 3.6% to RM2.83bil from RM2.94bil a year ago. Earnings per share were 6.42 sen compared with 4.24 sen.\u003Cbr />\r\n\u003C/p>",{"id":10,"name":11},[3436],{"id":14,"name":15},{"name":3438,"file_name":3438,"url":3439},"thestar200814.jpg","https://www.ioigroup.com/storage/381/thestar200814.jpg",[],{"meta_title":3431,"meta_description":3442,"meta_keywords":28},"KUALA LUMPUR: Plantation heavyweight IOI Corporation Bhd's earnings rose 70.9% to RM3.373bil in the financial year ended June 30, 2014 from RM1.973bil...",{"id":3444,"title":3445,"date":3446,"body":3447,"source":3448,"type":3449,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3425,"created_at":3425,"content_type":24,"related_news":3451,"metatag":3452},41,"IOI Loders Croklaan confident of approval for Betapol distribution in Malaysia","2014-08-16T00:00:00.000000Z","\u003Cp>PASIR GUDANG: IOI Loders Croklaan Oils Sdn Bhd (IOI Loders), the downstream processing division of IOI Corporation Bhd (IOI), is confident of obtaining approval from the government for the distribution of its new product containing palm oil-based, specialty fat named Betapol by this year.\u003C/p>\r\n\u003Cp>“We are already at the final stage of getting the approval. We are currently listening to advises from the ministry and they are also evaluating the effects of Betapol,” said Michael van Sallandt, chief operating officer of IOI Loders Croklaan, during a recent media tour to its factory, IOI’s plantations and mill.\u003C/p>\r\n\u003Cp>Betapol, which was created to mimic the unique fat composition and structure of human milk, has been approved globally and IOI Loders Croklaan currently supplies to over 14 countries with China being its biggest market.\u003C/p>\r\n\u003Cp>IOI Loders Croklaan is one of the largest integrated palm oil company in the world. It is also one of two companies and one of the pioneers in the development and production of specialty fat that mimics natural human milk.\u003C/p>\r\n\u003Cp>The company currently has two factories developing and supplying Betapol which are located in Europe and in Pasir Gudang, Johor. A point Sallandt highlighted was that in China, Betapol are sold to premium products (infant formula) brands. However, he pointed out that more companies and brands are starting to use Betapol as part of the ingredients in their infant formulas.\u003C/p>\r\n\u003Cp>He affirmed that China has placed infant formulas containing Betapol as the benchmark for high quality infant formula.\u003C/p>\r\n\u003Cp>The market for this product has also increased tremendously over the last two years as more countries take up the ingredient for their infant formula products. This, Sallandt said, underlines the growing acceptance of the benefits of Betapol.\u003C/p>\r\n\u003Cp>According to Youchun Yan, senior technical manager of IOI Loders Croklaan Asia, extensive scientific research done on Betapol, including numerous clinical studies, demonstrates that the product can play a beneficial role in both pre-term and full-term infant.\u003C/p>\r\n\u003Cp>“Some of the published efficacy studies for Betapol shows that the ingredient increases calcium absorption, increased fat absorption, softer stools, increased bone density and content, and additional benefits from the combination with other ingredients,” he explained during a briefing of the product.\u003C/p>\r\n\u003Cp>In this respect, IOI Loders Croklaan also highlighted that positive outcomes have been discovered from a recent scientific research on Betapol and potential effects on infant brain development.\u003C/p>\r\n\u003Cp>The company said, the outcomes suggest that OPO, the main component of Betapol, has a positive physiological effect on brain function and physical development compared with standard vegetable oils used in infant formula.\u003C/p>\r\n\u003Cp>“The infant formula market is a strategic growth market for IOI Loders Croklaan and we will continue to invest further,” Michael said.\u003C/p>\r\n\u003Cp>Since Betapol is produced from a unique mix of crude palm oil (CPO) and palm kennel, he outlined that the product would also be beneficial for Malaysia as a whole, given its large plantations industry.\u003C/p>\r\n\u003Cp>In 2011, the production of Betapol OPO was commissioned to IOI Loders Croklaan’s plant in Pasir Gudang. This production has been awarded the Malaysian Bionexus status, which is only given to qualified global and Malaysiam biotechnology companies.\u003C/p>\r\n\u003Cp>The company said, the status is awarded to qualified companies undertaking value added biotechnology and/or life sciences activities.\u003C/p>",{"id":241,"name":242},[3450],{"id":14,"name":15},[],{"meta_title":3445,"meta_description":3453,"meta_keywords":28},"PASIR GUDANG: IOI Loders Croklaan Oils Sdn Bhd (IOI Loders), the downstream processing division of IOI Corporation Bhd (IOI), is confident of obtainin...",{"id":3455,"title":3456,"date":3457,"body":3458,"source":3459,"type":3460,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3462,"created_at":3462,"content_type":24,"related_news":3463,"metatag":3464},25,"IOI Q3 net profit jumps on de-merger gains","2014-05-23T00:00:00.000000Z","\u003Cp>PETALING JAYA: IOI Corp Bhd's net profit for the third quarter ended March 31, 2014 (Q3) rose 283% to RM2.18 billion from RM567.8 million a year ago due mainly to the one-off net extraordinary gain of RM1.83 billion arising from the de-merger of the property related businesses in January 2014.\u003C/p>\r\n\u003Cp>\"Excluding the effect from the de-merger and profit contribution from the property related businesses, the group's operating profit from its continuing operations for Q314 of RM524.5 million is 11% higher than RM473.5 million reported for Q313, due to better performance from the plantation business which is moderated by slightly lower contribution from the resource-based manufacturing segment,\" IOI said in a filing with Bursa Malaysia yesterday. \u003C/p>\r\n\u003Cp>Its revenue increased marginally to RM2.9 billion compared with RM2.87 billion in the previous year's corresponding period. \u003C/p>\r\n\u003Cp>For the nine-month period, IOI's net profit surged 74% to RM2.97 billion from RM1.70 billion due mainly to the one-off net extraordinary gain of RM1.83 billion arising from the de-merger moderated by translation loss of RM141.6 million on foreign currency denominated borrowings as compared with a translation gain of RM362.4 million for the same period last year.\u003C/p>\r\n\u003Cp>Excluding the non-recurring items, the underlying profit of the group for nine months is 16% higher than the previous year, mainly due to higher contribution from the resource-based manufacturing segment, moderated by slightly lower contribution from the plantation segment.\u003C/p>\r\n\u003Cp>However, its nine months revenue fell 1.9% to RM9.08 billion from RM9.26 billion a year ago.\u003C/p>\r\n\u003Cp>\"With higher biodiesel mandates in both Malaysia and Indonesia and the increase in demand from India and Pakistan due to the festive season, crude palm oil (CPO) prices are likely to be well supported at the current level in the remaining FY14 financial quarter. In the medium term, the likely occurrence of El Nino during the second half of the year may give a further boost to CPO prices,\" it said.\u003Cbr />\u003C/p>",{"id":1804,"name":1805},[3461],{"id":14,"name":15},"2025-05-02T09:50:34.000000Z",[],{"meta_title":3456,"meta_description":3465,"meta_keywords":28},"PETALING JAYA: IOI Corp Bhd's net profit for the third quarter ended March 31, 2014 (Q3) rose 283% to RM2.18 billion from RM567.8 million a year ago d...",{"id":3467,"title":3468,"date":3469,"body":3470,"source":3471,"type":3472,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3462,"created_at":3462,"content_type":24,"related_news":3474,"metatag":3475},24,"IOI net profit jumps to RM2.17bil","2014-05-22T00:00:00.000000Z","\u003Cp>\u003Cbr />KUALA LUMPUR: IOI Corporation third quarter ended Mar 31, 2014 net profit almost quadrupled to RM2.176bil from RM567.8mil a year ago due to the one-off net gain of RM1.834bil from the demerger of its property arm.\u003C/p>\r\n\u003Cp>In a Bursa Malaysia filing on Thursday, the group said its revenue was up 0.86% to RM2.899bil from RM2.874bil a year ago due to better performance from the plantation business, which is moderated by slightly lower contribution from the resource-based manufacturing segment.\u003C/p>\r\n\u003Cp>Its earnings per share stood at 34.20 sen from 8.89 sen a year ago.\u003C/p>\r\n\u003Cp>The group has not declared any dividend for the period.\u003C/p>\r\n\u003Cp>IOI said its plantation profit rose 47% to RM306.8mil due to higher crude palm oil (CPO) and palm kernel prices realized, as well as an increase in share of results of its associate in Indonesia.\u003C/p>\r\n\u003Cp>Its resource-based manufacturing profit of RM205.2mil was 9% lower due to lower margin from the refinery and oleochemicals sub-segments as well as lower sales volume from the refinery subsegment.\u003C/p>\r\n\u003Cp>It was offset by higher contribution from specialty oils and fats due to better margin as compared to same period last year, it said.\u003C/p>\r\n\u003Cp>Moving forward, the group said CPO prices are likely to be well supported at the current level in the remaining year.\u003C/p>\r\n\u003Cp>“In the medium term, the likely occurrence of El Nino during the second half of the year may give a further boost to CPO prices,” it said.\u003C/p>\r\n\u003Cp>As for the resource-based manufacturing segment, IOI said both its specialty oils, fats and oleochemicals business are expected to perform reasonably well in the remaining financial quarter.\u003C/p>\r\n\u003Cp>“Overall, the group’s performance is expected to be satisfactory for FY2014,” it said.\u003C/p>",{"id":10,"name":11},[3473],{"id":14,"name":15},[],{"meta_title":3468,"meta_description":3476,"meta_keywords":28},"KUALA LUMPUR: IOI Corporation third quarter ended Mar 31, 2014 net profit almost quadrupled to RM2.176bil from RM567.8mil a year ago due to the one-of...",{"id":3478,"title":3479,"date":3480,"body":3481,"source":3482,"type":3483,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3462,"created_at":3462,"content_type":24,"related_news":3485,"metatag":3486},20,"IOI Corp Q2 earnings down 8.3% to RM487mil on FX losses","2014-02-25T00:00:00.000000Z","\u003Cp>PETALING JAYA: Plantation heavyweight \u003Cspan>IOI Corp Bhd\u003C/span>’s earnings for the second quarter ended Dec 31, 2013 fell 8.3% year-on-year to RM487.1mil from RM531mil, as revenue went down 9.6% to RM2.939bil from RM3.252bil.\u003C/p>\r\n\u003Cp>Earnings per share came in at 7.62 sen from 8.31 sen in the corresponding quarter a year earlier, and the board of directors proposed a tax-free dividend of 8 sen per ordinary share, it said on Tuesday.\u003C/p>\r\n\u003Cp>It is payable on March 21 to shareholders registered by March 12, 2014.\u003C/p>\r\n\u003Cp>Earnings for the two quarters so far dropped 30.5% to RM789mil from RM1.135bil the year before, as revenue slipped 3.2% to RM6.179bil from RM6.385bil.\u003C/p>\r\n\u003Cp>IOI said profit in the quarter under report fell mainly due to translation loss of RM14mil on foreign currency-denominated borrowings compared to a gain of RM92.0 million in Q2 FY2013. It said apart from this, the underlying profit for Q2 FY2014 is 13% higher, driven by higher contribution from all major segments.\u003C/p>\r\n\u003Cp>Plantation profit increased 3% to RM313.7mil versus RM304.3mil previously; resource-based manufacturing profit was up 48.5% to RM259.8mil from RM174.9mil; property development profit rose 14% to RM160mil fromRm140.5mil; and property investment was up slightly to RM16.8mil from RM16.4mil.\u003C/p>\r\n\u003Cp>On its prospects, IOI said palm oil prices had been on a positive uptrend due to improved fundamentals, and this positive price uptrend was expected to be sustained. It also noted that palm kernel prices had moved up even more than palm oil due to strong demand for lauric oils.\u003C/p>\r\n\u003Cp>“With the positive price outlook coupled with higher contributions expected from the newly acquired Unico-Desa estates in Sabah and our associate company in Indonesia, the group expects its plantation division to perform better than last financial year,” it said.\u003C/p>\r\n\u003Cp>IOI said, overall, the group’s performance for the remaining quarters is expected to be satisfactory.  \u003C/p>",{"id":10,"name":11},[3484],{"id":14,"name":15},[],{"meta_title":3479,"meta_description":3487,"meta_keywords":28},"PETALING JAYA: Plantation heavyweight IOI Corp Bhd’s earnings for the second quarter ended Dec 31, 2013 fell 8.3% year-on-year to RM487.1mil from RM53...",{"id":3489,"title":3490,"date":3491,"body":3492,"source":3493,"type":3494,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3462,"created_at":3462,"content_type":24,"related_news":3496,"metatag":3497},19,"Rising CPO prices boost plantation shares","2014-02-20T00:00:00.000000Z","\u003Ctable border=\"0\" cellspacing=\"2\" cellpadding=\"2\" width=\"44%\" align=\"center\">\r\n\u003Ctbody>\r\n\u003Ctr>\r\n\u003Ctd>\u003C/td>\u003C/tr>\u003C/tbody>\u003C/table>\r\n\u003Cp>PETALING JAYA: Shares in plantation companies, led by IOI Corp Bhd, surged to their highest in weeks on rising crude palm oil (CPO) futures prices. \u003C/p>\r\n\u003Cp>Kenanga Research expects falling palm oil inventory to push prices higher, at least in the near term. \u003C/p>\r\n\u003Cp>“We reiterate our view that CPO prices should continue to appreciate up to RM2,900 per tonne by end-March as we expect sustained inventory downtrend throughout the first quarter of the year,” Kenanga Research told clients.\u003C/p>\r\n\u003Cp>Shares in plantation counters like Genting Plantations Bhd, IOI Corp Bhd and Kuala Lumpur Kepong Bhd (KLK) ended up by 0.95%, 5.75% and 3.81% to RM10.60, RM4.60 and RM24.50 respectively.\u003C/p>\r\n\u003Cp>Another planter TSH Resources Bhd also finished the day 1.35% higher to RM3. \u003C/p>\r\n\u003Cp>CPO futures surged convincingly to break its psychological level of RM2,700 on Tuesday, reaching their highest level in 17 months since September 2012, according to a note by Kenanga. \u003C/p>\r\n\u003Cp>At yesterday’s close, forward three-month CPO futures were at RM2,708 per tonne.\u003C/p>\r\n\u003Cp>Kenanga said its top picks for the sector were IOI Corp and TSH. \u003C/p>\r\n\u003Cp>“We believe IOI Corp’s valuation should re-rate higher post its demerger exercise with IOI Properties as it has emerged as the biggest and most efficient integrated palm oil players,” it said.\u003C/p>\r\n\u003Cp>It noted that IOI Corp’s fresh fruit bunch yield at 24.46 tonnes per ha was also the highest among big-cap planters. \u003C/p>\r\n\u003Cp>It also said it liked TSH due to its high FFB growth, noting that for the period of January to September 2013, its FFB output was already showing 34% growth (year-on-year) to 379,673 tonnes (strongest growth among its peers). \u003C/p>\r\n\u003Cp>Kenanga in its note added that Indonesian state-owned energy firm Pertamina had recently completed its second tender of biodiesel and that this should bode well for CPO prices too as it created additional sustainable demand for CPO.\u003C/p>\r\n\u003Cp>StarBiz reported recently that market sentiment was well supported by the lower-than-expected palm oil stock figures by the Malaysian Palm Oil Board (MPOB) and tight supply in the soybean-producing countries of Brazil and Argentina.\u003C/p>\r\n\u003Cp>MPOB said the palm oil inventory in January had fallen 2.63% to 1.93 million tonnes, the lowest in three months, while CPO production eased 9.6% to 1.50 million tonnes from a month earlier. \u003C/p>",{"id":10,"name":11},[3495],{"id":14,"name":15},[],{"meta_title":3490,"meta_description":3498,"meta_keywords":28},"PETALING JAYA: Shares in plantation companies, led by IOI Corp Bhd, surged to their highest in weeks on rising crude palm oil (CPO) futures prices. Ke...",{"id":1129,"title":3500,"date":3501,"body":3502,"source":3503,"type":3504,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3506,"created_at":3506,"content_type":24,"related_news":3507,"metatag":3508},"Lee: I want my sons to be better than me","2014-01-09T00:00:00.000000Z","\u003Cp>PUTRAJAYA (Jan 9, 2014): Plantation and property tycoon Tan Sri Lee Shin \r\nCheng, 74, who dubbed the day he announced the appointment of his sons as heads \r\nof his business empire \" as a special day\", believes that his children will a \r\nbetter job at growing the empire. \u003C/p>\r\n\u003Cp>Shin Cheng announced yesterday, just under a week from the listing of IOI \r\nProperties, that his youngest son Lee Yeow Seng, 35, has been appointed CEO of \r\nIOI Properties, while Datuk Lee Yeow Chor, 47, his eldest son, will head IOI \r\nCorp.\u003C/p>\r\n\u003Cp>The new appointments were announced by Shin Cheng himself, who is one of the \r\nrichest business magnates in Malaysia, at a press briefing held in the group's \r\nhotel.\u003C/p>\r\n\u003Cp>\"I have been planning this succession for many years. I did not set any \r\ntarget for Yeow Chor and Yeow Seng, but I believe they can do better than me. As \r\nlong as they do their job properly, I will be happy and satisfied,\" Shin Cheng \r\ntold reporters after IOI Corp and IOI Properties' post-demerger media briefing \r\nhere yesterday.\u003C/p>\r\n\u003Cp>He was quick however to clarify that the appointments are not a prelude to \r\nhis retirement from the corporate world. Shin Cheng will remain as the executive \r\nchairman in both IOI Corp and IOI Properties.\u003C/p>\r\n\u003Cp>\"I am still very healthy, strong and handsome, I can work for at least \r\nanother ten years. IOI Corp and IOI Properties were both founded by me, I want \r\nto see them grow bigger and become even more successful companies,\" he said.\u003C/p>\r\n\u003Cp>Further to that, Shin Cheng said his sons are allowed to make their own \r\ndecisions, but he will continue to monitor and assist them closely.\u003C/p>\r\n\u003Cp>\"The final decision may not necessarily be made by myself. But if they are \r\nmaking wrong decision, I am still here to correct them,\" he said, proving that \r\nthe move by Shin Cheng does not mean a complete cut from the apron strings.\u003C/p>\r\n\u003Cp>\"If they do their job properly and perform well, probably I will retire \r\nearlier and step down in three to five years later. But if they are not, then I \r\nwill stay longer,\" he added.\u003Cbr />\u003C/p>",{"id":1804,"name":1805},[3505],{"id":14,"name":15},"2025-05-02T09:50:33.000000Z",[],{"meta_title":3500,"meta_description":3509,"meta_keywords":28},"PUTRAJAYA (Jan 9, 2014): Plantation and property tycoon Tan Sri Lee Shin Cheng, 74, who dubbed the day he announced the appointment of his sons as hea...",{"id":922,"title":3511,"date":3512,"body":3513,"source":3514,"type":3515,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3506,"created_at":3506,"content_type":24,"related_news":3517,"metatag":3518},"Dato’ Lee Yeow Chor appointed Chief Executive Officer of IOI Corporation Bhd and Mr Lee Yeow Seng appointed Chief Executive Officer of IOI Properties Group Berhad","2014-01-08T00:00:00.000000Z","\u003Cdiv align=\"justify\">\r\n\u003Cp>Putrajaya, 8 January 2014 – IOI Group today announced the appointment of Dato’ Lee Yeow Chor as Chief Executive Officer of IOI Corporation Berhad (“IOI Corp”) and Mr Lee Yeow Seng as Chief Executive Officer of IOI Properties Group Berhad (“IOI Prop”), with effect from 8 January 2014.\u003C/p>\r\n\u003Cp>Dato’ Lee Yeow Chor has vast experience in overseeing the operations of IOI Group since his appointment as Group Executive Director on 25 April 1996 and was closely involved with the Group’s three core business segments, namely oil palm plantations, resource-based manufacturing, and property development and investment.\u003C/p>\r\n\u003Cp>Dato’ Lee was trained as a barrister from Gray’s Inn, London and holds a LLB (Honours) from King’s College London and a Postgraduate Diploma in Finance and Accounting from London School of \u003Cbr />Economics. He is the Chairman of the Malaysian Palm Oil Council and also serves as a Council Member in the Malaysian Palm Oil Association. \u003C/p>\r\n\u003Cp>Meanwhile, Mr Lee Yeow Seng, who was first appointed to the Board of IOI Corp on 3 June 2008 as Executive Director, has been actively involved in corporate affairs and general management within IOI Group. \u003C/p>\r\n\u003Cp>He holds a LLB (Honours) from King’s College London and was admitted to the Bar of England & Wales by Inner Temple. He has served at the London and Singapore offices of a leading international financial services group prior to joining IOI Corp.\u003C/p>\r\n\u003Cp>Tan Sri Dato’ Lee Shin Cheng remains as the Executive Chairman of IOI Corp and will also helm IOI Prop as the Executive Chairman.\u003C/p>\u003C/div>",{"id":10,"name":11},[3516],{"id":14,"name":15},[],{"meta_title":3511,"meta_description":3519,"meta_keywords":28},"Putrajaya, 8 January 2014 – IOI Group today announced the appointment of Dato’ Lee Yeow Chor as Chief Executive Officer of IOI Corporation Berhad (“IO...",{"id":3521,"title":3522,"date":3512,"body":3523,"source":3524,"type":3525,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3506,"created_at":3506,"content_type":24,"related_news":3527,"metatag":3528},5,"Yeow Chor appointed IOI Corp CEO, Yeow Seng is IOI Properties CEO","\u003Cdiv align=\"justify\">\r\n\u003Cp>PUTRAJAYA: IOI Group has appointed Datuk Lee Yeow Chor and Lee Yeow Seng as chief executive officers of IOI Corp Bhd and IOI Properties Group Bhd respectively.\u003C/p>\r\n\u003Cp>The appointments come prior to the relisting of IOI Properties on Jan 15, effective Wednesday.\u003C/p>\r\n\u003Cp>Yeow Chor was previously the group executive director of IOI Corp. \u003C/p>\r\n\u003Cp>As for Yeow Seng, he was appointed to the board as executive director of IOI Corp on June 3, 2008 and subsequently re-designated to non-independent non-executive director on Dec 18, 2013.\u003C/p>\r\n\u003Cp>Yeow Seng was appointed to the board of IOI Properties Group Bhd on Feb 25, 2013 and he was responsible for overseeing the operations of IOI Properties Group.\u003C/p>\r\n\u003Cp>At the media briefing on Wednesday, Yeow Chor, said once the companies have demerged successfully, IOI Corp would be one of the largest pure plantation players in the market.\u003C/p>\r\n\u003Cp>The company would also be fully integrated into the downstream plantation market.\u003C/p>\r\n\u003Cp>He added the company would be more aggressive in sourcing for opportunities locally and in other countries such as Indonesia.\u003C/p>\r\n\u003Cp>Yeow Seng, who will helm IOI Properties Group, said the target was to achieve RM2.5bil to RM3bil in sales for the financial year ending June 30, 2015.\u003C/p>\r\n\u003Cp>IOI Properties' projects are mainly focused within Malaysia in the Klang Valley, Johor Baru, Malacca, Negeri Sembilan and Penang. It also has projects in Singapore and Xiamen, China.\u003Cbr />\u003C/p>\u003C/div>",{"id":10,"name":11},[3526],{"id":14,"name":15},[],{"meta_title":3522,"meta_description":3529,"meta_keywords":28},"PUTRAJAYA: IOI Group has appointed Datuk Lee Yeow Chor and Lee Yeow Seng as chief executive officers of IOI Corp Bhd and IOI Properties Group Bhd resp...",{"id":3531,"title":3532,"date":3533,"body":3534,"source":3535,"type":3538,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3324,"created_at":3324,"content_type":24,"related_news":3540,"metatag":3541},66,"IOI proposes internal restructuring","2013-12-24T00:00:00.000000Z","\u003Cp>KUALA LUMPUR: IOI Corp Bhd has announced a proposed internal restructuring of its plantation and manufacturing assets. \u003C/p>\r\n\u003Cp>In a filing yesterday, it said the exercise, which is expected to be completed by year-end, is to streamline its plantation and resource-based manufacturing businesses. \u003C/p>\r\n\u003Cp>“The transfer of plantation estates from IOI Corp to its wholly-owned plantation companies would streamline the holdings of its plantation estates and enable IOI Corp to become a pure investment holding company.”\u003C/p>",{"id":3536,"name":3537},9,"Business Times",[3539],{"id":14,"name":15},[],{"meta_title":3532,"meta_description":3542,"meta_keywords":28},"KUALA LUMPUR: IOI Corp Bhd has announced a proposed internal restructuring of its plantation and manufacturing assets. In a filing yesterday, it said...",{"id":3544,"title":3545,"date":3546,"body":3547,"source":3548,"type":3549,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3324,"created_at":3324,"content_type":24,"related_news":3551,"metatag":3552},67,"IOI Corp Q1 net profit halves to RM301.8m","2013-11-19T00:00:00.000000Z","\u003Cp>\u003Cstrong>PETALING JAYA (Nov 19, 2013):\u003C/strong> IOI Corp Bhd's net profit halved to RM301.8 million for the first quarter ended Sept 30, 2013 (Q1FY14) from RM604.3 million a year ago, due mainly to translation loss of RM164.1 million on foreign currency denominated borrowings and lower profit from its plantation segment during Q1 FY2014.\u003C/p>\r\n\u003Cp>"Excluding the translation difference on foreign currency denominated borrowings, the underlying profit of the group for Q1FY14 was 33% higher than Q1FY13," said the group in a filing with Bursa Malaysia yesterday.\u003C/p>\r\n\u003Cp>IOI Corp said its plantation profit decreased by 36% to RM256.1 million in the July-September 2013 period compared with RM401.2 million for Q1FY13, due mainly to lower crude palm oil (CPO) and palm kernel prices as well as marginally lower fresh fruit bunch production.\u003C/p>\r\n\u003Cp>Average CPO price realised for Q1FY14 was RM2,347 per tonne from RM2,941 per tonne a year ago.\u003C/p>\r\n\u003Cp>Nevertheless, revenue for Q1FY14 rose 3% to RM3.24 billion from RM3.13 billion a year ago.\u003C/p>\r\n\u003Cp>Going forward, IOI Corp expects CPO prices to remain at the prevailing level for the next few months.\u003C/p>\r\n\u003Cp>"We also expect higher contribution from our associate in Indonesia, Bumitama Agri Ltd as more of their young palm trees will reach peak production years. Overall, the group's plantation division is expected to perform satisfactorily in the remaining quarters," it added.\u003C/p>\r\n\u003Cp>IOI Corp said its first foray development in Xiamen, China, has been a success and is expected to contribute favourably to the property segment result going forward.\u003C/p>\r\n\u003Cp>"As for the domestic property scene, despite the increase in real property gain tax rates as announced recently in Budget 2014, our property division is expected to perform well given that the mass market segment where the group has significant presence will continue to be resilient.\u003C/p>\r\n\u003Cp>"Overall, the group's performance for the remaining quarters is expected to be satisfactory," it said.\u003C/p>",{"id":1804,"name":1805},[3550],{"id":14,"name":15},[],{"meta_title":3545,"meta_description":3553,"meta_keywords":28},"PETALING JAYA (Nov 19, 2013): IOI Corp Bhd's net profit halved to RM301.8 million for the first quarter ended Sept 30, 2013 (Q1FY14) from RM604.3 mill...",{"id":3555,"title":3556,"date":3557,"body":3558,"source":3559,"type":3560,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3324,"created_at":3324,"content_type":24,"related_news":3562,"metatag":3563},68,"IOI Properties to list in January","2013-10-30T00:00:00.000000Z","\u003Cp>PUTRAJAYA (Oct 30, 2013): IOI Corp Bhd is due to spin off its lucrative property arm IOI Properties Group Bhd and list it on the Main Market of Bursa Malaysia in January next year, with a market capitalisation of more than RM14 billion, said IOI Corp executive chairman and plantation tycoon Tan Sri Lee Shin Cheng (pix).\u003C/p>\r\n\u003Cp>The initial public offering (IPO) is slightly off its initial timeframe of end-2013.\u003C/p>\r\n\u003Cp>"IOI Properties will probably be listed in the first month of next year. The listing preparations are going smoothly as we are now waiting for the final approval from High Court. To date, the Securities Commission and Bursa Malaysia have given (IOI Properties IPO) the green light," Lee told a press conference after IOI Corp's EGM here yesterday.\u003C/p>\r\n\u003Cp>At the meeting, shareholders gave IOI Corp the go-ahead to the demerger of IOI Properties.\u003C/p>\r\n\u003Cp>Lee is expecting not less than RM1 billion in annual net profit from IOI Properties in the next three years.\u003C/p>\r\n\u003Cp>"I presume the price to earnings (P/E) ratio of IOI Properties will not trade at less than 14 times (against its listed industry peers of 13 times to 15 times). Being a reputable company which has been doing very well, IOI Properties' market capitalisation should fetch more than RM14 billion upon listing," said Lee.\u003C/p>\r\n\u003Cp>While the market capitalisation of IOI Corp will be slightly affected after the demerger of its property unit as its share price will be technically adjusted to RM4.42 from its closing price of RM5.44 yesterday, Lee said he is not too concerned about it.\u003C/p>\r\n\u003Cp>On the recent revision of the real property gains tax (RPGT) rates and the increased threshold of RM1 million for foreign buyers announced in Budget 2014, Lee said the industry as a whole may see a slow down in property sales in the next one to two months as a knee-jerk reaction to the moves.\u003C/p>\r\n\u003Cp>Lee said IOI Properties, however, will largely be protected from these measures as most of its buyers are owner-occupiers.\u003C/p>\r\n\u003Cp>IOI Properties currently owns some 10,000 acres of land bank, with 95% in Malaysia and the rest in Singapore and China.\u003C/p>\r\n\u003Cp>Lee said the group targets at least 10 new launches a year.\u003C/p>\r\n\u003Cp>Earlier at the meeting, IOI Corp shareholders also agreed for IOI Properties to buy the remaining 10% stake in Property Village Bhd and Property Skyline Sdn Bhd each from Summervest Sdn Bhd, which is controlled by Lee for RM196 million.\u003C/p>\r\n\u003Cp>Distribution-in-specie would be given on the basis of one IOI Properties share for every three shares held in IOI Corp.\u003Cbr />\r\n  Lee said the group's shareholders are happy to own shares in two separate entities, which are both listed on Bursa Malaysia.\u003C/p>\r\n\u003Cp>"IOI Corp used to distribute 50% of its net profit as dividend. Hopefully, IOI Properties will follow (suit)," he said. The plantation and downstream divisions currently contribute 65% to the group's profit and the remaining comes from its property business.\u003C/p>\r\n\u003Cp>Post-distribution, a non-renounceable restricted offer for sale of all remaining shares in IOI Properties will be opened to IOI Corp shareholders on the basis of one IOI Properties share for every six IOI Corp shares.\u003C/p>\r\n\u003Cp>From the offer for sale of up to 1.08 billion shares, Lee said the group will receive proceeds of at least RM1.9 billion which will be utilised to redeem its bond, to repay its loans amounting to US$500 million (RM1.5 billion) and the rest for working capital.\u003C/p>\r\n\u003Cp>IOI Corp's net cash position currently stands at more than RM2 billion.\u003C/p>\r\n\u003Cp>Following the completion of its acquisition of Unico-Desa Plantations Bhd and the demerger of its property arm, Lee expects IOI Corp to generate an annual revenue of RM11 billion to RM12 billion, with net profit coming in at not less than RM1.5 billion a year.\u003C/p>\r\n\u003Cp>Unico-Desa is expected to contribute some 8% to 10% to the group's revenue going forward, said Lee.\u003C/p>\r\n\u003Cp>On crude palm oil, Lee expects prices to increase from the current level of about RM2,500 per tonne by year-end, and exceed the RM3,000 per tonne mark should the palm oil biodiesel blends increase.\u003C/p>",{"id":1804,"name":1805},[3561],{"id":14,"name":15},[],{"meta_title":3556,"meta_description":3564,"meta_keywords":28},"PUTRAJAYA (Oct 30, 2013): IOI Corp Bhd is due to spin off its lucrative property arm IOI Properties Group Bhd and list it on the Main Market of Bursa...",{"id":3566,"title":3567,"date":3568,"body":3569,"source":3570,"type":3571,"image":3573,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3381,"created_at":3381,"content_type":24,"related_news":3576,"metatag":3577},70,"IOI Corp's bid triggers mandatory general offer acquisition of Unico-Desa","2013-10-03T00:00:00.000000Z","\u003Ctable style=\"box-sizing: border-box; border-collapse: collapse; border-spacing: 0px; max-width: 100%; font-family: "Helvetica Neue",Helvetica,Arial,sans-serif; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px;\" align=\"center\" cellpadding=\"10\" cellspacing=\"10\">\u003Ctbody style=\"box-sizing: border-box;\">\u003Ctr style=\"box-sizing: border-box;\">\u003C/tr>\u003C/tbody>\u003C/table>\u003Cp style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/ioiunicodesaplantationsb1.JPG\" alt=\"\" />\u003Cbr />\u003C/p>\u003Cp>KUALA LUMPUR: Plantation giant IOI Corp Bhd has launched an RM1bil takeover of Unico-Desa Plantations Bhd at RM1.17 a share, just slightly below the latter’s last traded price.\u003C/p>\r\n\u003Cp>The hardly-traded Unico-Desa had seen its shares being actively traded and hitting a high of RM1.30 last week, after speculation on a possible sale of a major block of its shares emerged.\u003C/p>\r\n\u003Cp>IOI Corp said it had acquired close to 40% in Unico-Desa from companies and parties linked to Unico-Desa’s major shareholder, Teoh Hock Chai, for RM396.63mil, which works out to a price of RM1.17 per Unico-Desa share.\u003C/p>\r\n\u003Cp>IOI Corp has, thus, triggered a mandatory general offer (MGO) for the rest of the 518.11 million shares, or 60.45%, in Unico-Desa at the same RM1.17 per share price, which works out to RM606.18mil.\u003C/p>\r\n\u003Cp>Unico-Desa’s share price had run up last week to a high of RM1.30 a piece, its highest in 10 months. The shares closed at RM1.18 yesterday, with 4.26 million shares being traded.\u003C/p>\r\n\u003Cp>IOI Corp, which had RM878.9mil in cash and balances as at June 30, said it was funding the takeover via internal funds and borrowings.\u003C/p>\r\n\u003Cp>“The acquisition is in line with IOI Corp group’s plans to expand its oil palm business, whereby IOI Corp group’s plantation landbank would increase by 13,660ha, or 7.5%, from its present 183,207ha to 196,867ha,” IOI Corp said.\u003C/p>\r\n\u003Cp>It added that the acquisition would allow the group to gain immediate access and controlling ownership over Unico-Desa’s established plantation operations in Sabah.\u003C/p>\r\n\u003Cp>This is expected to bring synergistic benefits to the IOI Corp group, as it has an existing 98,088ha of oil palm planted area in Sabah.\u003C/p>\r\n\u003Cp>“The acquisition and MGO is expected to enhance the IOI Corp group’s core plantation operations and contribute positively to the future earnings of IOI Corp,” it said.\u003C/p>\r\n\u003Cp>Unico-Desa’s core asset is its 13,660ha landbank near Lahad Datu and Kinabatangan, Sabah. Of this, 12,700ha have been planted, and of that, 9,121ha are matured.\u003C/p>\r\n\u003Cp>The takeover now will have to get the support of Unico-Desa’s minority shareholders, who will have to decide whether the offer price was attractive enough.\u003C/p>\r\n\u003Cp>One plantation analyst said he viewed the acqusition as “fairly neutral” on IOI Corp’s earnings and held the view that the price being paid “was in line with market values, give or take 5%”.\u003C/p>\r\n\u003Cp>The analyst also said that the price being paid by IOI Corp was higher than what Felda Global Ventures Holdings Bhd (FGVH) had paid for the 100% stake in Pontian United Plantations Bhd. FGVH had launched an RM1.2bil buyout of Pontian at RM140 per share.\u003C/p>\r\n\u003Cp>But he added that the higher price was justified, considering the scarcity of land, sizeable nature of Unico-Desa’s landbank as well as the synergies that IOI Corp could derive from the acquisition.\u003C/p>\r\n\u003Cp>He also said that Unico-Desa’s yields were “fairly decent”.\u003C/p>\r\n\u003Cp>Like many other plantation companies, Unico-Desa’s earnings have been hit by weak crude palm oil prices. It posted a mere RM348,000 in net profit for the financial quarter ended June 30 from RM10.89mil in the previous corresponding period, while revenue dropped to RM33.8mil from RM52.2mil.\u003Cbr />\u003C/p>",{"id":10,"name":11},[3572],{"id":14,"name":15},{"name":3574,"file_name":3574,"url":3575},"ioiunicodesaplantationsb1.JPG","https://www.ioigroup.com/storage/392/ioiunicodesaplantationsb1.JPG",[],{"meta_title":3567,"meta_description":3578,"meta_keywords":28},"KUALA LUMPUR: Plantation giant IOI Corp Bhd has launched an RM1bil takeover of Unico-Desa Plantations Bhd at RM1.17 a share, just slightly below the l...",{"id":3580,"title":3581,"date":3568,"body":3582,"source":3583,"type":3584,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3381,"created_at":3381,"content_type":24,"related_news":3586,"metatag":3587},71,"Highlight: IOI makes MGO for Unico-Desa after buying 39.55% stake","\u003Cp>KUALA LUMPUR (Oct 2 ): IOI Corp Bhd, via wholly-owned unit IOI Plantation Sdn \r\nBhd, is making a take-over offer for the remaining 60.45% stake it does not own \r\nin oil palm plantation firm Unico-Desa Plantations Bhd for RM1.17 a \r\nshare.\u003Cbr />\u003Cbr />In a statement to the exchange today, IOI said the proposed \r\nmandatory general offer (MGO) for the remaining 518.11 million shares in \r\nUnico-Desa follows its acquisition of a 39.55% stake in Unico-Desa.\u003Cbr />\u003Cbr />IOI \r\nsaid it paid RM396.63 million or RM1.17 a share for the 39.55% stake. \r\n\u003Cbr />\u003Cbr />The RM1.17 a share price compares with Unico-Desa's latest reported book \r\nvalue of 85 sen a share.\u003Cbr />\u003Cbr />Unico-Desa share rose seven sen or 6% to RM1.25 \r\nbefore its trading was halted pending the announcement. \u003Cbr />\u003Cbr />\"The acquisition \r\n(of the 39.55% stake) is in line with IOI Corp group’s plans to expand its oil \r\npalm business, whereby IOI Corp group’s plantation land bank will increase by \r\n13,660 ha or approximately 7.5% from its present 183,207 ha to 196,867 ha,\" IOI \r\nsaid.\u003Cbr />\u003Cbr />IOI said it has bought the 39.55% stake in Unico-Desa from ELK \r\nGroup Sdn Bhd, Eng Lee Kredit Sdn Bhd, Eng Lee Capital Sdn Bhd, and Amity Corp \r\nSdn Bhd. These firms are controlled by Teoh Hock Chai, the managing director of \r\nUnico-Desa, and his associates.\u003Cbr />\u003Cbr />According to IOI, the purchase of a stake \r\nin Unico-Desa will give the buyer \"immediate access and a controlling ownership \r\nover Unico’s established plantation operations located in Sabah\".\u003Cbr />\u003Cbr />IOI \r\nsaid it already owns 98,088 ha of oil palm plantation tracts in \r\nSabah.\u003Cbr />\u003Cbr />\"The acquisition and MGO is expected to enhance the IOI Corp \r\ngroup’s core plantation operations and contribute positively to the future \r\nearnings of IOI Corp group.\u003Cbr />\u003Cbr />\"The acquisition was completed today. The MGO \r\nis expected to be completed before first quarter of calendar year 2014,\" IOI \r\nsaid.\u003Cbr />\u003Cbr />Upon completion of the MGO, IOI said it plans to delist Unico-Desa \r\nfrom Bursa Malaysia.\u003Cbr />\u003Cbr />Unico-Desa has been listed on the exchange since May \r\n25, 2000. The firm, which cultivates oil palm trees in Lahad Datu and \r\nKinabatangan, Sabah, also undertake palm oil milling. It was set up by the \r\nAssociated Chinese Chamber and Industry of Malaysia in the 1980s. \u003C/p>",{"id":109,"name":110},[3585],{"id":14,"name":15},[],{"meta_title":3581,"meta_description":3588,"meta_keywords":28},"KUALA LUMPUR (Oct 2 ): IOI Corp Bhd, via wholly-owned unit IOI Plantation Sdn Bhd, is making a take-over offer for the remaining 60.45% stake it does...",{"id":3590,"title":3591,"date":3592,"body":3593,"source":3594,"type":3596,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3381,"created_at":3381,"content_type":24,"related_news":3598,"metatag":3599},73,"Creative Studio dedicated to bakery, confectionery innovation","2013-09-11T00:00:00.000000Z","\u003Cp>CHANNAHON, ILL. — IOI Loders Croklaan Americas on Sept. 4 opened its new Creative Studio Americas to serve its fats and oils customers, both local and global. The new 16,000-square-foot, two-story site represents an investment of more than $3 million in building and equipment.\u003C/p>\r\n\u003Cp>“The Creative Studio is driven by customer need to develop products that can ‘wow’ the consumer,” said Bill Troy, chief operating officer of IOI Loders Croklaan Americas. “It is designed to help speed product development.”\u003C/p>\r\n\u003Cp>Because customer and supplier can collaborate in person, back-and-forth communications take place rapidly, and ideas can turn into reality quickly.\u003C/p>\r\n\u003Cp>“It can do a two-year job in one month,” he said.\u003C/p>\r\n\u003Cp>Julian Veitch, group chief executive officer, added, “The Creative Studio is all about collaboration, and it works.”\u003C/p>\r\n\u003Cp>Company managers see the Creative Studio as partnering on products from ideation and development through scale-up, production and out to the consumer.\u003C/p>\r\n\u003Cp>“This building represents how quickly our market is shifting,” noted Tim Surin, director of sales and marketing, North America. “The timing couldn’t be more perfect.”\u003C/p>\r\n\u003Cp>The company positioned its trade show presence and advertising theme — “Create Your Next Big Idea” — with the opening of the Channahon studio.\u003C/p>\r\n\u003Cp>“Our booth at the I.F.T. Food Expo was full all the time with people,” Mr. Surin said. “The discussion was about innovation, not cost-cutting.”\u003C/p>\r\n\u003Cp>He described the Channahon studio as “a very relaxed environment, with a thoughtful side and an action side.” The concept, he explained, was to define product development objectives in the area managers designated as “generate” — the classroom and conference areas — with activity moving along into the “create” areas of the two studios.\u003C/p>\r\n\u003Cp>“This is an artisanal, creative approach to a very scientific world,” he added.\u003C/p>\r\n\u003Cp>The new building houses the Creative Studio on its first floor, with administrative offices on the second. The first floor consists of two spacious development labs — which the company designates as “studios” — connected by a shared, glass-walled analytical station looking out on both sides. The rest of the 8,000 square feet is taken up by a large classroom-style meeting room and two smaller, more intimate conference areas. It was designed with large windows overlooking a forested area on the southern shore of the Des Plaines river.\u003C/p>\r\n\u003Cp>In the center’s two studios, the company installed lab and pilot-scale equipment. The bakery studio includes a dry mix blender, bench-top vertical mixers, an aerating mixer, a rack oven, a combination proofer and deck oven, cake donut depositors and a restaurant-size fryer. The confectionery studio contains a mix-blend-conch system, a tempering unit, a three-zone cooling tunnel, a panner-coater and ice cream freezers.\u003C/p>\r\n\u003Cp>The studios can accommodate development of all production ranges from retail and in-store products to high-volume consumer packaged goods items.\u003C/p>\r\n\u003Cp>Channahon’s Creative Studio is the third one created by parent company IOI Edible Oils, with the first located in The Netherlands and the second in Malaysia. Many aspects of the U.S. location carry forward design norms of these labs in room layout and work space alignment.\u003C/p>\r\n\u003Cp>“The customer will have the benefit of the same approach here as in the Creative Studio sites in Europe and Asia,” Mr. Troy said. “In Europe, confectionery has the larger profile while in the U.S., bakery is bigger.”\u003C/p>\r\n\u003Cp>Facility design follows Safe Quality Food (SQF) guidelines, explained Kevin Miller, marketing communications manager. All surfaces are food-grade, including the ceiling tiles, and the floor was laid with sanitation-friendly cove-moulding baseboards.\u003C/p>\r\n\u003Cp>The new Creative Studio is located on-site of IOI Loders Croklaan Americas’ vegetable oil refining plant at Channahon, the largest such facility in the Northern Hemisphere. With an annual output of 1 billion lbs, it produces more than 150 different vegetable oils and blends.\u003C/p>\r\n\u003Cp>“That innovation is our approach is clear in what we have accomplished with this plant,” Mr. Troy said. “The focus on trans-fat elimination has driven growth over the past few years.” Annual growth for this business ranges between 12% and 15%, he observed.\u003C/p>\r\n\u003Cp>To help make the grand opening a special event, the company brought in Mindy Segal, proprietor of Hot Chocolate, a restaurant in Chicago’s Bucktown neighborhood. She demonstrated glazed mini-donuts based on brioche dough and iced chocolate cakes, all made with IOI Loders Croklaan Americas shortenings and oils. Ms. Segal is a James Beard Award winner for pastry, and she announced plans to open a bakery in the near future.\u003C/p>\r\nWith the opening of the Creative Studio, the company also plans to renovate its internally focused research and development laboratory, also on-site at Channahon.",{"id":3478,"name":3595},"www.bakingbusiness.com",[3597],{"id":14,"name":15},[],{"meta_title":3591,"meta_description":3600,"meta_keywords":28},"CHANNAHON, ILL. — IOI Loders Croklaan Americas on Sept. 4 opened its new Creative Studio Americas to serve its fats and oils customers, both local and...",{"id":3602,"title":3603,"date":3604,"body":3605,"source":3606,"type":3607,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3381,"created_at":3381,"content_type":24,"related_news":3609,"metatag":3610},74,"Analysts continue to like IOI for demerger exercise","2013-08-23T00:00:00.000000Z","\u003Cp>PETALING JAYA: Although IOI Corp Bhd’s core net profit for the financial year ended June 30, 2013 (FY13) was below consensus estimate, analysts continue to favour the stock for the potential value creation stemming from its property unit demerger.\u003C/p>\r\n\u003Cp>In CIMB Research’s view, there were short-term catalysts from the property demerger exercise expected to be completed in the fourth quarter of this year.\u003C/p>\r\n\u003Cp>Sector analyst Ivy Ng said: “We remain positive on the group due to the potential value creation from its proposed property demerger exercise which is expected to rerate the group’s property assets.”\u003C/p>\r\n\u003Cp>The corporation’s FY13 core net profit of RM1.6bil was in line with expectations, coming in at 1% above its forecast. It was, however, 6% below consensus.\u003C/p>\r\n\u003Cp>“The slight positive variance against our forecast came from better manufacturing and property earnings which helped to offset higher-than-expected estates costs,” Ng added in a report.\u003C/p>\r\n\u003Cp>For FY14, Ng projected that the group would report higher core earnings, mainly driven by better CPO prices and stronger property contributions from its domestic and overseas projects.\u003C/p>\r\n\u003Cp>“This is broadly in line with IOI Corp’s guidance of CPO prices staying at prevailing levels during the next few months, its oleochemical division performing well, and positive prospects for the Malaysian property sector,” she said.\u003C/p>\r\n\u003Cp>Echoing CIMB’s view, Hwang-DBS Vickers Research said it also “continues to like IOI Corp for its undervalued property segment” as well as other reasons like relatively stable dividend per share against with earnings outlook, and anticipated recovery in CPO prices next calendar year as reasons to like the stock.\u003C/p>\r\n\u003Cp>For the next few months, Hwang noted, the group expected CPO prices to stay at current levels.\u003C/p>\r\n\u003Cp>Hwang lowered its forward earnings estimates for IOI Corp, mainly to reflect the lower-than-expected cash balance.\u003C/p>\r\n\u003Cp>“As at end-June 2013, the group’s ending cash level stood at RM2.97bil.\u003C/p>\r\n\u003Cp>This was lower than our estimate of RM4.33bil due to lower profits, higher capex and debt repayment,” it said in a note.\u003C/p>\r\n\u003Cp>Hwang’s FY14 to FY16 forward earnings for IOI Corp were tweaked by -3.4%, -2.6% and -0.4%, although it noted that it had not imputed proceeds from the property segment’s spin off expected to be completed by end-2013.\u003C/p>\r\n\u003Cp>Alliance Research plantations analyst Arhnue Tan had a different take on CPO price recovery, however. “We only expect a mild recovery in CPO prices towards the year end and view that healthy supplies of palm oil could keep CPO prices supressed.”\u003C/p>\r\n\u003Cp>As such, Tan also lowered the CPO average selling prices (ASP) for FY14 and FY15 earnings estimates to a more conservative RM2,400 per tonne from RM2,600 per tonne and RM2,700 per tonne previously.\u003C/p>\r\n\u003Cp>“This lowers our estimates by 6.8% and 9.6% for FY14 and FY15 respectively.”\u003C/p>\r\n\u003Cp>Group core profits including discontinued operations still showed a 11.4% decline in FY13, dragged by the poor performance of the plantation division due to lower CPO ASP, Tan said.\u003C/p>\r\n\u003Cp>For the fourth quarter of FY13, the decline in net profit was sharper at -36% because of higher production costs.\u003C/p>\r\n\u003Cp>“The property division, which has been classified as discontinued operations pending demerger exercise, did better in FY13 with a 10.4% growth in profits. This was driven by property developments in Singapore.”\u003C/p>\r\n\u003Cp>On the group revenue, Tan pointed out that it was lower in FY13 by 16.4% because of the lower CPO ASP. On a quarter-on-quarter basis, FY13 fourth-quarter revenue was dragged down by the seasonal decline in production which had offset slightly by improved CPO ASP during the quarter.\u003C/p>",{"id":10,"name":11},[3608],{"id":14,"name":15},[],{"meta_title":3603,"meta_description":3611,"meta_keywords":28},"PETALING JAYA: Although IOI Corp Bhd’s core net profit for the financial year ended June 30, 2013 (FY13) was below consensus estimate, analysts contin...",{"id":3613,"title":3614,"date":3604,"body":3615,"source":3616,"type":3617,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3381,"created_at":3381,"content_type":24,"related_news":3619,"metatag":3620},75,"Proposed IOI Properties Group demerger, prospectus approved","\u003Cp>PETALING JAYA: The Securities Commission (SC) has, in principle, approved the proposed demerger and listing prospectus of IOI Properties Group (IOIPG).\u003C/p>\r\n\u003Cp>In an IOI Corp Bhd announcement to Bursa Malaysia, it said the SC had approved the equity requirement for the public companies, while approving in principle IOIPG’s listing prospectus for registration.\u003C/p>\r\n\u003Cp>The approval is subject to the corporate guarantees provided by IOI Corp for IOI Properties Bhd and its entities to be uplifted and/or transferred to IOIPG prior to the submission of the confirmation for registration of IOIPG’s prospectus to the SC.\u003C/p>\r\n\u003Cp>Another condition is that Tan Sri Lee Shin Cheng, Datuk Lee Yeow Chor and Lee Yeow Seng should respectively hold only executive positions in either IOI Corp or IOIPG and not in both companies.\u003C/p>\r\n\u003Cp>Additionally, IOIPG must appoint at least one senior qualified personnel responsible for its legal and company secretarial matters who is not in shared employment with IOI Corp prior to the submission of confirmation for the registration of IOIPG’s prospectus to the SC.\u003C/p>\r\n\u003Cp>The SC also imposed additional conditions on the properties of IOIPG and noted that its joint principal advisers and IOIPG must fully comply with the requirements of the SC’s Equity Guidelines and Prospectus Guidelines to the listing.\u003C/p>\r\n\u003Cp>“The board of directors of IOI Corp and IOIPG would deliberate on the conditions imposed by the SC on the proposed demerger and listing and consider the appropriate course of action,” the company said.\u003C/p>",{"id":10,"name":11},[3618],{"id":14,"name":15},[],{"meta_title":3614,"meta_description":3621,"meta_keywords":28},"PETALING JAYA: The Securities Commission (SC) has, in principle, approved the proposed demerger and listing prospectus of IOI Properties Group (IOIPG)...",{"id":2974,"title":3623,"date":3624,"body":3625,"source":3626,"type":3627,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3381,"created_at":3381,"content_type":24,"related_news":3629,"metatag":3630},"Lower palm prices hit IOI profit","2013-08-22T00:00:00.000000Z","\u003Cp>PETALING JAYA: IOI Corp Bhd posted a weaker fourth quarter ended June 30 net profit of RM267.1mil compared with RM410.6mil a year ago due to lower earnings from the plantation segment, property investment and non-recurring gain realised at the previous corresponding quarter.\u003C/p>\r\n\u003Cp>This was achieved on the back of RM2.9bil of revenue which was lower than RM3.4bil in the last quarter of 2012.\u003C/p>\r\n\u003Cp>“The plantation profit decreased by 46% year-on-year to RM169.1mil for the quarter under review.\u003C/p>\r\n\u003Cp>“The lower profit reported is due mainly to lower crude palm oil price (CPO) and palm kernel prices, but this was partly mitigated by higher fresh fruit bunches (FFB) production.\u003C/p>\r\n\u003Cp>“Average CPO price realised for the quarter was RM2,314 per tonne compared with RM3,244 per tonne a year ago,” said the company in its filing with Bursa Malaysia yesterday.\u003C/p>\r\n\u003Cp>IOI property investment also recorded a lower earnings.\u003C/p>\r\n\u003Cp>Meanwhile, IOI’s other businesses in the resource-based manufacturing and property development recorded a higher profit for the quarter.\u003C/p>\r\n\u003Cp>On a bigger picture, IOI’s net profit soared to RM1.97bil for the full year ended June 30 (FY13) compared with RM1.79bil in FY12 due mainly to translation gain of RM191.4mil on foreign currency-denominated borrowings and higher contributions from all major segments other than plantation.\u003C/p>\r\n\u003Cp>“The plantation segment reported a lower profit of RM1.08bil for the year under review compared with RM1.63bil for FY12.\u003C/p>\r\n\u003Cp>“The lower profit is due mainly to lower CPO and palm kernel prices of which the average CPO price realised for year was RM2,433 per tonne compared with RM3,135 per tonne for 2012, despite a higher FFB production,” it said.\u003C/p>\r\n\u003Cp>IOI’s resource-based manufacturing profit of RM603.5mil in FY13 was 110% higher than RM287.1mil in FY12.\u003C/p>\r\n\u003Cp>“The higher profit of the segment is mainly due to higher margin from all the sub-segments as well as increase in sales volume from refinery and specialty fats sub-segments,” said IOI.\u003C/p>\r\n\u003Cp>The property development segment’s profit also showed positive development recording RM637.7mil profit for FY13, reflecting 32% increase against FY12.\u003C/p>\r\n\u003Cp>“The higher profit is due mainly to higher development revenue recognised in the financial period as well as increase in share of results from jointly controlled entities,” it said.\u003C/p>\r\n\u003Cp>Property investment also saw higher profit of RM225.4mil for the year under review compared with RM220.1mil in FY12 due mainly to improvement in occupancy rates and rental yields, which however was offset by lower fair value gain of investment properties amounting to RM161.7mil.\u003C/p>\r\n\u003Cp>On immediate prospects, IOI said palm oil prices were expected to stay at the prevailing level during the next few months.\u003C/p>\r\n\u003Cp>“However, with the seasonally higher palm oil production from its plantation, the group’s plantation segment is expected to perform better during the next few months.\u003C/p>\r\n\u003Cp>“In the resource-based manufacturing segment, the group’s oleochemicals business continues to perform well due to relatively low feed stock prices. The refinery and specialty fats businesses will also perform satisfactorily due to better competitive position as a result of the CPO export duty structure in Malaysia,” it said.\u003C/p>\r\n\u003Cp>IOI said the Malaysian property market outlook was expected to remain positive especially in the landed property and mid-range condominium segments where the group has a strong presence.\u003C/p>\r\n\u003Cp>IOI has also proposed a second single tier interim dividend of 85%, or 8.5 sen per share, with entitlement date set on Sept 9.\u003C/p>",{"id":10,"name":11},[3628],{"id":14,"name":15},[],{"meta_title":3623,"meta_description":3631,"meta_keywords":28},"PETALING JAYA: IOI Corp Bhd posted a weaker fourth quarter ended June 30 net profit of RM267.1mil compared with RM410.6mil a year ago due to lower ear...",{"id":3633,"title":3634,"date":3635,"body":3636,"source":3637,"type":3638,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3640,"created_at":3640,"content_type":24,"related_news":3641,"metatag":3642},108,"Genting directors best paid: Survey","2013-08-15T00:00:00.000000Z","\u003Cp>Genting Bhd topped the list of companies that paid out higher remuneration to  their directors last year, with a big payout of RM117.69 million, according  to a Malaysian Business survey.\u003C/p>\u003Cp>The top 20 companies forked out RM534.95 million last year, up 17 per cent  from previously, while 600 companies surveyed, paid out over RM1 million.\u003C/p>\u003Cp>Genting also had the highest remuneration band of RM113 million to RM113.05  million for a single director but did not name him.\u003C/p>\u003Cp>The top executive listed is its Executive Chairman and Chief Executive Tan  Sri Lim Kok Thay. \u003C/p>\u003Cp>The second top company was IOI Corporation Bhd, which paid its boards RM60.30  million, up 7.1 per cent from 2010.\u003C/p>\u003Cp>The public-listed company paid a remuneration band of RM56.75 million to  RM56.80 million to its highest-ranking director.\u003C/p>\u003Cp>\"We assume that the recipient was IOI Corp Director and Founder Tan Sri Lee  Shin Cheng,\" the Malaysian Business said in a statement today.\u003C/p>\u003Cp>Genting's subsidiary, Genting Malaysia Bhd, which paid out more than RM48  million to its top executive, took the third spot. \u003C/p>\u003Cp>The survey noted that the payout might have been made to the same person,  taking into view the possibility of double counting.\u003C/p>\u003Cp>Companies that lowered their boardroom remuneration last year include Berjaya  Corporation Bhd, which paid out RM20.67 million or 12.5 per cent less to its  board members.\u003C/p>\u003Cp>The highest remuneration paid to a single director in the company was in the  RM10.35 million to RM10.40 million band, also lower than the RM11.70 million to  RM11.75 million paid out previously.\u003C/p>\u003Cp>CIMB Group Holdings Bhd paid out RM16.49 million or 10.9 per cent less to its  board members last year.\u003C/p>\u003Cp>The remuneration paid to its Group Managing Director and Group Chief  executive Officer Datuk Seri Mohd Nazir Razak last year was lower at RM8.70  million as compared with RM12 million in 2010. -- Bernama\u003C/p>",{"id":3536,"name":3537},[3639],{"id":14,"name":15},"2025-05-02T09:50:42.000000Z",[],{"meta_title":3634,"meta_description":3643,"meta_keywords":28},"Genting Bhd topped the list of companies that paid out higher remuneration to their directors last year, with a big payout of RM117.69 million, accord...",{"id":3645,"title":3646,"date":3647,"body":3648,"source":3649,"type":3650,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3381,"created_at":3381,"content_type":24,"related_news":3652,"metatag":3653},77,"Federal Court dismisses Kayans’ NCR land appeal","2013-07-04T00:00:00.000000Z","\u003Cp>KUCHING: The Federal Court here yesterday dismissed an application by a group of Kayans from Long Teran Kanan in Tinjar for leave (or permission) to appeal against the decision of the Court of Appeal (CA) which held that they (Kayans) had no native customary rights (NCR) over two Provisional Leases issued to IOI Pelita Plantation Sdn Bhd for the development of an oil palm plantation.\u003C/p>\r\n\u003Cp>The FC comprising CA president Tan Sri Raus Md Sharif, Chief Judge of Sabah and Sarawak Tan Sri Richard Malumjun and federal judges Tan Sri Ahmad Ma’arof, Datin Paduka Zaleha Zahari and Datuk Zainun Ali unanimously disallowed the appeal by the NCR claimants.\u003C/p>\r\n\u003Cp>The Kayans, led by Lah Anyie, named IOI Pelita, the state government of Sarawak and Land Custody and Development Authority (LCDA) as respondents.\u003C/p>\r\n\u003Cp>They asserted that they had been given the land, within the Bok Tisam Protected Forests (BTPF) in 1964 by the Berawans who allowed them to live in the area with the permission of the then district officer.\u003C/p>\r\n\u003Cp>In 1997, certain areas were excised from BTPF. Two Provisional Leases (Lot 3 and Lot 8 Dulit Land District) were issued by the government to IOI Pelita, a joint venture company between LCDA and IOI Plantation Berhad.\u003C/p>\r\n\u003Cp>The Kayans then claimed that the Provisional Leases were unlawfully issued over land which was given to them by the Berawans from Kampung Long Jegan.\u003C/p>\r\n\u003Cp>They then filed court action against the respondents to declare the Leases null and void and an unspecified amount of damages for trespassing on their NCR land from IOI Pelita.\u003C/p>\r\n\u003Cp>State Legal Counsel Datuk JC Fong submitted that for the Kayans to succeed in their court action, there must be evidence to show the Berawans had rights to land inside the BTPF, which, according to the customs of the Berawans, could be given to another community, that is the Kayans.\u003C/p>\r\n\u003Cp>He said the CA found there was no evidence that the Berawans had rights in the BTPF or over land in the Provisional Leases which they could give away to the Kayans.\u003C/p>\r\n\u003Cp>He added that the official records showed that the Berawans of Kampung Long Jegan never had rights over the areas claimed by the Kayans.\u003C/p>\r\n\u003Cp>Tan Sri Raus, who headed the panel of appeal judges, agreed, ruling that there was no evidence the Berawans had rights in the BTPF that they could give to the Kayans in 1964. The Berawans only had rights in a different area, namely, the Leminting Protected Forests. Accordingly, Raus held that there was no basis for the Kayans to appeal.\u003C/p>\r\n\u003Cp>The Federal Court, in dismissing the application, also ordered the Kayans to pay RM5,000 costs to each of the respondents – the State Government, IOI Pelita and LCDA.\u003C/p>\r\n\u003Cp>Counsels Mekanda Singh Sandhu and Harrision Ngau appeared for the Kayans while state legal counsel Lonie Pinda assisted Datuk Fong in defending the state government. Counsels HC Sim, KY Lin and Lim Lip Tze appeared for other respondents.\u003C/p>",{"id":241,"name":242},[3651],{"id":14,"name":15},[],{"meta_title":3646,"meta_description":3654,"meta_keywords":28},"KUCHING: The Federal Court here yesterday dismissed an application by a group of Kayans from Long Teran Kanan in Tinjar for leave (or permission) to a...",{"id":2949,"title":3656,"date":3657,"body":3658,"source":3659,"type":3660,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3381,"created_at":3381,"content_type":24,"related_news":3662,"metatag":3663},"Fitch expects IOI to maintain operating profit, with CPO at RM2,500","2013-07-02T00:00:00.000000Z","\u003Cp>KUALA LUMPUR: Fitch Ratings expects plantation heavyweight IOI Corp to maintain the current operating profit even if crude palm oil prices (CPO) are to stabilise at RM2,500 a tonne.\u003C/p>\r\n\u003Cp>The ratings agency had on Tuesday cited IOI Corp's large scale of operations, a favourable plantation profile, strong operating efficiencies and its integrated operations.\u003C/p>\r\n\u003Cp>Fitch affirmed IOI Corp's Issuer Default Rating (IDR) at 'BBB+' while the outlook was Stable. The senior unsecured rating on IOI Ventures (L) Bhd's US$500mil notes due 2015, guaranteed by IOI Corp, has also been affirmed at 'BBB+'.\u003C/p>\r\n\u003Cp>\"Fitch believes that IOI Corp's proposal to hive off and list its property arm by Q214 is neutral to its credit profile. Its potentially lower leverage and positive free cash flows will offset a narrower business profile and potential reduction in scale (in terms of total assets),\" it said.\u003C/p>\r\n\u003Cp>It pointed out the Stable Outlook reflected IOI Corp's strong market position and operating metrics in its integrated CPO plantation and processing (resource-based manufacturing) business and Fitch's expectation that IOI Corp will generate positive free cash flows (FCF) from FY15 onwards and maintain its funds from operations adjusted net leverage below 1.75 times once its property business is hived off,\" it said.\u003C/p>\r\n\u003Cp>IOI Corp has proposed to list its property business. Under the exercise, shares of its property business would be offered to its existing shareholders and underwritten by executive chairman, Tan Sri Lee Shin Cheng. \u003C/p>\r\n\u003Cp>Fitch said the inflow of RM1.9bil cash to IOI Corp and the RM500mil debt being retained by the newly listed property company will result in a decline in FFO-adjusted net leverage to less than 1.75 times by end-FY14. This transaction is expected to be completed by Q2, 2014.\u003C/p>\r\n\u003Cp>On the CPO business, it said IOI Corp had seen off a declining trend in CPO prices since Q4, 2012 to maintain its CPO operating profit in excess of RM450 per tonne. \u003C/p>\r\n\u003Cp>Fitch noted that despite the declining trend in CPO prices and lower development property sales due to lower off-take of units, IOI Corp managed to keep financial leverage (FFO-adjusted net leverage) at 1.92 times as of June 30, 2012 (FY11: 1.24 times), within Fitch's FY12 rating guideline of 2.5 times. \u003Cbr />\u003C/p>",{"id":10,"name":11},[3661],{"id":14,"name":15},[],{"meta_title":3656,"meta_description":3664,"meta_keywords":28},"KUALA LUMPUR: Fitch Ratings expects plantation heavyweight IOI Corp to maintain the current operating profit even if crude palm oil prices (CPO) are t...",{"id":3666,"title":3667,"date":3668,"body":3669,"source":3670,"type":3671,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3381,"created_at":3381,"content_type":24,"related_news":3673,"metatag":3674},80,"IOI's Q3 pre-tax profit rises to RM677.1m","2013-05-21T00:00:00.000000Z","\u003Cp>IOI Corp Bhd's pre-tax profit increased to RM677.1 million for the third quarter ended March 31, 2013, from RM659.4 million registered in the same period last year. \u003C/p>\r\n\u003Cp>Revenue, however, was lower at RM3.2 billion, during the period under review, from RM3.6 billion, previously. \u003C/p>\r\n\u003Cp>In a statement today, the group attributed the better pre-tax profit to its manufacturing and property segments. \u003C/p>\r\n\u003Cp>\"Contribution from the property segment for the quarter under review was 62 per cent higher at RM254.4 million compared with the second quarter while our resource-based manufacturing segment reported a profit of RM226.1 million, up 29 per cent from the previous quarter,\" it said. \u003Cbr />\u003C/p>\r\n\u003Cp>On prospects, the group said while the plantation business would continue to face challenges on manpower shortage and higher labour cost, its property development business would remain positive given the booming local industry. \u003C/p>\r\n\u003Cp>\"Overall, we expect to perform satisfactorily during the remaining quarter of this financial year,\" it added.-- Bernama \u003C/p>",{"id":3536,"name":3537},[3672],{"id":14,"name":15},[],{"meta_title":3667,"meta_description":3675,"meta_keywords":28},"IOI Corp Bhd's pre-tax profit increased to RM677.1 million for the third quarter ended March 31, 2013, from RM659.4 million registered in the same per...",{"id":2411,"title":3677,"date":3668,"body":3678,"source":3679,"type":3680,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3381,"created_at":3381,"content_type":24,"related_news":3682,"metatag":3683},"IOI 3Q profit rises 3% to RM568 mil","\u003Cp>KUALA LUMPUR (May 21): IOI Corp Bhd reported a 3% rise in third quarter net profit from a year earlier. This came on higher income from downstream PLANTATION, and property operations, besides currency translation and real estate revaluation gain.\u003Cbr />\u003Cbr />These factors have mitigated the impact of a 11% drop in revenue on lower crude palm oil (CPO) and palm kernel prices, IOI told the exchange today.\u003Cbr />\u003Cbr />IOI said net profit came to RM567.8 million in the quarter ended March 31, 2013 (1QFY13) compared to RM552 million previously. Revenue fell to RM3.2 billion from RM3.58 million.\u003Cbr />\u003Cbr />\"The (pre-tax profit) increase is due mainly to better performance from manufacturing and property segments, which is however mitigated by lower translation gain on foreign currency denominated borrowings and lower profit contributions from plantation segment,\" IOI said.\u003Cbr />\u003Cbr />Cumulative 9MFY13 net profit rose to RM1.7 billion from RM1.39 billion a year earlier. Revenue, however, fell to RM10.16 billion from RM11.89 billion.\u003Cbr />\u003Cbr />During 3QFY13, IOI said upstream plantation profit had fallen 31% despite higher fresh fruit bunch output.\u003Cbr />\u003Cbr />The firm said it had registered an average CPO price of RM2,226 a tonne during the quarter versus RM3,143 a year earlier.\u003Cbr />\u003Cbr />Lower CPO prices had, however, helped IOI's downstream plantation operation's profit rise to RM226.1 million from RM89.1 million.\u003Cbr />\u003Cbr />\"In the resource-based manufacturing segment, the group’s oleochemical business continues to perform well due to relatively low feed stock prices.\u003Cbr />\u003Cbr />\"The refinery and specialty fats businesses will also perform satisfactorily due to better competitive position as a result of the export duty structure in Malaysia,\" IOI said.\u003Cbr />\u003Cbr />IOI said with the anticipated recovery in palm oil prices due to lower inventory and resilient demand, the upstream segment is expected to perform better going forward. This comes amid manpower shortage and costlier labour, the firm said.\u003C/p>",{"id":109,"name":110},[3681],{"id":14,"name":15},[],{"meta_title":3677,"meta_description":3684,"meta_keywords":28},"KUALA LUMPUR (May 21): IOI Corp Bhd reported a 3% rise in third quarter net profit from a year earlier. This came on higher income from downstream PLA...",{"id":1821,"title":3686,"date":3668,"body":3687,"source":3688,"type":3689,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3381,"created_at":3381,"content_type":24,"related_news":3691,"metatag":3692},"IOI Corp Q3 earnings up just 2.8% to RM567.8m","\u003Cp>KUALA LUMPUR: Plantation heavyweight IOI Corporation Bhd's earnings rose 2.8% to RM567.80mil in the third quarter ended March 31, 2013 from RM552mil a year ago but expected to better in the final quarter.\u003C/p>\r\n\u003Cp>It said on Tuesday the increase was due to the better performance from manufacturing and property segments. However, it was mitigated by lower translation gain on foreign currency denominated borrowings and lower profit contributions from plantation segment.\u003C/p>\r\n\u003Cp>IOI Corp's revenue fell 10.6% to RM3.20bil from RM3.58bil while earnings per share were 8.89 sen compared with 8.59 sen.\u003C/p>\r\n\u003Cp>Commenting on its plantations, it said that profit fell 31% to RM208.3mil from RM303.2mil a year ago.\u003C/p>\r\n\u003Cp>\"The lower profit reported is due mainly to lower crude palm oil (CPO) and palm kernel (PK) prices, partially offset by higher fresh fruit bunches (FFB) production in Q3 FY2013. Average CPO price realised for Q3 FY2013 was RM2,226 a tonne as compared to RM3,143 for Q3, FY2012,\" it said.\u003C/p>\r\n\u003Cp>As for its resource-based manufacturing, profit for Q3 FY2013 was higher at RM226.1mil versus RM89.1mil a year ago.\u003C/p>\r\n\u003Cp>\" The higher profit of the segment is mainly due to higher margins from all the sub-segments as well as increase in sales volume from refinery and specialty fats sub-segments,\" it said.\u003C/p>\r\n\u003Cp>IOI Corp said the property development segment's operating profit of RM181.6mil in Q3 FY2013 was 65% higher than the RM110.1mil a year ago.\u003C/p>\r\n\u003Cp>The higher profit is due to higher development revenue in this quarter and a gain of RM21.1 million arising from the revaluation of existing equity interest following the acquisition of the remaining 50% equity holding in a jointly controlled entity, Prime Joy Investment Limited\u003C/p>\r\n\u003Cp>For the nine-month period, its earnings rose 22.7% to RM1.703bil from RM1.387bil in the previous corresponding period. Its revenue fell 14.5% to RM10.16bil from RM11.89bil. \u003Cbr />\u003C/p>",{"id":10,"name":11},[3690],{"id":14,"name":15},[],{"meta_title":3686,"meta_description":3693,"meta_keywords":28},"KUALA LUMPUR: Plantation heavyweight IOI Corporation Bhd's earnings rose 2.8% to RM567.80mil in the third quarter ended March 31, 2013 from RM552mil a...",{"id":3695,"title":3696,"date":3697,"body":3698,"source":3699,"type":3700,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3702,"created_at":3702,"content_type":24,"related_news":3703,"metatag":3704},83,"M’sia’s IOI Corp to list property business","2013-05-15T00:00:00.000000Z","\u003Cp>KUALA LUMPUR: Malaysia’s IOI Corporation Bhd will list its property business in a RM1.9 billion (US$634.07 million) initial public offering (IPO) by September, the company said yesterday, adding to a post-election flurry of stock debuts.\u003C/p>\r\n\u003Cp>IOI Corp will inject its property-related operations, worth RM12.9 billion, into IOI Property Group Bhd, in exchange for 3.2 billion shares in the new entity.\u003C/p>\r\n\u003Cp>IOI Corp would distribute up to 2.2 billion shares – two-thirds of the new company’s outstanding stock – to its own shareholders.\u003C/p>\r\n\u003Cp>It would offer one share in the new company for every three shares in IOI Corp, and additional shares would be available at a 30 per cent discount, it said.\u003C/p>\r\n\u003Cp>The remaining third of IOI Property Group will be sold to selected shareholders, raising RM1.8 billion towards paring down the company’s debt.\u003C/p>\r\n\u003Cp>The exercise will result in IOI Corp’s property and plantation businesses being listed as two separate companies.\u003C/p>\r\n\u003Cp>“For the next three years, we project an operating profit of at least RM1 billion a year, not only from Malaysia but Singapore and China too,” IOI Corp chairman Lee Shin Cheng told a news conference.\u003C/p>\r\n\u003Cp>“IOI Property would manage projects with a total gross development value of RM16 billion over the next three years, Lee added.\u003C/p>\r\n\u003Cp>It will hold RM17.9 billion worth of property assets, based on valuations as at January 2013.\u003C/p>\r\n\u003Cp>“The property business is on a stronger footing now. We have built our landbank in strategic locations, so it is about time we unlock their value,” Lee said. — Reuters\u003C/p>",{"id":241,"name":242},[3701],{"id":14,"name":15},"2025-05-02T09:50:40.000000Z",[],{"meta_title":3696,"meta_description":3705,"meta_keywords":28},"KUALA LUMPUR: Malaysia’s IOI Corporation Bhd will list its property business in a RM1.9 billion (US$634.07 million) initial public offering (IPO) by S...",{"id":2560,"title":3707,"date":3697,"body":3708,"source":3709,"type":3710,"image":3712,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3702,"created_at":3702,"content_type":24,"related_news":3715,"metatag":3716},"IOI heading to be one of Malaysia's largest property companies with RM14.67bil assets","\u003Cp style=\"text-align: center;\">\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/ioi_properties_listing.jpg\" border=\"1\" alt=\"\" />\u003C/p>\u003Cp>\u003Cspan style=\"font-size: 10px; text-align: -webkit-center;\">IOI Group Executive Chairman Tan Sri Lee Shin Cheng (2nd from left) holds a press conference on major corporate execises at at IOI at the Marriot Putrajaya in Putrajaya\u003C/span>\u003C/p>\r\n\u003Cp>PUTRAJAYA: The proposed listing and demerger of IOI Properties Bhd from IOI Corp Bhd will create one of the country's largest property companies with a net asset size of RM14.67bil, delivering average operating profits of RM1bil per year over the next three years, driven by its Singapore and China developments.\u003C/p>\r\n\u003Cp>This is on the back of RM3bil worth of launches per year, as opposed to RM1bil currently.\u003C/p>\r\n\u003Cp>The exercise will see IOI Corp selling its property assets to IOI Properties Group Sdn Bhd (ListCo), which is to be listed by year-end. The market capitalisation of IOI Properties Group would likely be at a 25% to 30% discount to its net asset value, implying a value of around RM10bil to RM11bil, said Tan Sri Lee Shin Cheng, the executive chairman and founder of IOI Corp.\u003C/p>\r\n\u003Cp>He added that the net asset per share of the ListCo was RM4.46, while the initial public offering (IPO) price was yet to be finalised.\u003C/p>\r\n\u003Cp>“Over the last 10 years, in terms of profitability, IOI Properties has been delivering the highest earnings among all the companies on Bursa Malaysia,” Lee told reporters and analysts during a briefing.\u003C/p>\r\n\u003Cp>At present, the company has a gross development value (GDV) of about RM16bil and undeveloped landbank of 10,175 acres in Malaysia, Singapore and Xiamen, China.\u003C/p>\r\n\u003Cp>“The demerger eliminates the holding company discount. Clear separation of businesses would result in premium valuations for both businesses, given their significant size and future earnings growth,” said UOB KayHian analyst Leow Huey Chuen, who maintains her strong “buy” recommendation.\u003C/p>\r\n\u003Cp>The listing will entail some 3.29 billion shares, where existing shareholders of IOI Corp will be rewarded with a proposed distribution-in-specie of approximately 2.16 billion shares in the new ListCo on the basis of one ListCo share for every three IOI Corp shares held.\u003C/p>\r\n\u003Cp>There is also a proposed non-renounceable restricted offer for sale (ROS) of approximately 1.08 billion ListCo shares on the basis of one ListCo share for every six IOI Corp shares held.\u003C/p>\r\n\u003Cp>This ROS will raise some RM1.9bil, and will be priced at a 30% discount to the IPO price. Thus, this would indicate that the ROS shares are priced at RM1.76.\u003C/p>\r\n\u003Cp>The demerger of IOI Properties from IOI Corp involves four transactions. First, there will be an internal reorganisation to streamline its property assets into the new listed company, IOI Properties Group.\u003C/p>\r\n\u003Cp>This involves IOI Corp disposing of its entire equity interest of 99.8% in IOI Properties and its subsidiaries to the new listed company for RM9.77bil to be satisfied via the issuance of 2.19 billion new ListCo shares.\u003C/p>\r\n\u003Cp>Secondly, IOI Corp will also dispose of certain other subsidiaries which are involved in property development, property investment and other property-related businesses to the ListCo for RM2.63bil to be satisfied via the issuance of up to 589.27 million new ListCo shares.\u003C/p>\r\n\u003Cp>Thirdly, IOI Corp will dispose of two parcels of agricultural land, which will be converted to commercial or residential use; 500 acres in Bahau, Negri Sembilan and 1,279 acres in Segamat, Johor for RM276mil to be satisfied via the issuance of 61.89 million new ListCo shares.\u003C/p>\r\n\u003Cp>And finally, the ListCo will acquire a 10% equity interest in Property Village Bhd from Summervest Sdn Bhd, a company controlled by Lee, along with the acquisition of a 10% equity interest in Property Skyline from Summervest for RM196.34mil to be satisfied via 44 million new ListCo shares.\u003C/p>\r\n\u003Cp>The market value of all the appraised properties is RM18.17bil.\u003C/p>\r\n\u003Cp>“The 44% discount for a big-cap stock with the potential of doubling its earnings within the next three years is very compelling. This translates into an operating profit of more than RM1bil by 2016,” said Leow.\u003C/p>\r\n\u003Cp>There is also a proposed debt settlement of approximately RM1.8bil owed by IOI Properties to IOI Corp. This will be satisfied by issuing approximately 403.34 million new ListCo shares to IOI Corp.\u003C/p>\r\n\u003Cp>Thus, the new ListCo, which will have an asset size of RM14.67bil, will only have a debt of RM500mil. This gives IOI Properties Group plenty of room for further expansion and acquisitions.\u003C/p>\r\n\u003Cp>Lee, who will remain as chairman of the ListCo, expected profit margins from Singapore and Xiamen, China, to be in the range of 30% to 40%. GDV contributions from Malaysia and the overseas market would be on a 50:50 basis.\u003C/p>\r\n\u003Cp>“Over the next five years, we are aiming for investment properties to contribute 40% to earnings, while the remaining 60% will come from development.\u003C/p>\r\n\u003Cp>“The location of our Singapore developments are very good. We may want to keep some for property investment,” said Lee.\u003C/p>\r\n\u003Cp>IOI Corp, which had been suspended since last Thursday at RM5.33, commenced trading yesterday in the afternoon trading session. The stock spiked to a high of RM5.70, before settling to close at RM5.46. Some 17.85 million shares were traded.\u003Cbr />\u003C/p>",{"id":10,"name":11},[3711],{"id":14,"name":15},{"name":3713,"file_name":3713,"url":3714},"ioi_properties_listing.jpg","https://www.ioigroup.com/storage/394/ioi_properties_listing.jpg",[],{"meta_title":3707,"meta_description":3717,"meta_keywords":28},"IOI Group Executive Chairman Tan Sri Lee Shin Cheng (2nd from left) holds a press conference on major corporate execises at at IOI at the Marriot Putr...",{"id":3719,"title":3720,"date":3697,"body":3721,"source":3722,"type":3723,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3702,"created_at":3702,"content_type":24,"related_news":3725,"metatag":3726},85,"IOI sees RM1b profit from new entity","\u003Cp>PUTRAJAYA: IOI Corporation Bhd, which has just proposed to demerge its property and related businesses and subsidiaries into IOI Properties Group Sdn Bhd, is expecting not less than RM1 billion operating profit from the new entity in the next three years. \u003C/p>\r\n\u003Cp>Group Chairman Tan Sri Lee Shin Cheng said the profit would come not only from Malaysia but also from property businesses in Singapore and China. \u003C/p>\r\n\u003Cp>In the financial year ended June 30, 2012, IOI Properties recorded an operating profit of RM506.3 million. \u003C/p>\r\n\u003Cp>"We also expect earnings from Malaysia and overseas will be even by 50-50 per cent ratio in the next three years," he told a media briefing on the proposed demerger exercise here today. \u003Cbr />\r\n    \u003Cbr />\r\n  The new entity will hold the property development, property investment and other property-related businesses of IOI Corporation and set to become one of the biggest listed property companies in the country with total assets of RM15 billion. \u003C/p>\r\n\u003Cp>Lee said the exercise was timely, especially with the continuous bullish sentiments for property businesses not only in Malaysia but also in the region, coupled with stable economic condition. \u003C/p>\r\n\u003Cp>Asked on income ratio from property development and property investment, he said, currently about 90 per cent came from property development. \u003C/p>\r\n\u003Cp>"As a property developer, we can't keep on building and selling properties. Like in Singapore, the high-end apartments are quite difficult to sell, but the medium range is selling good. So, we may want to keep some properties for property investment," he said. \u003C/p>\r\n\u003Cp>Lee said that in the next five years, property development would account for 60 per cent contribution, while the remaining 40 per cent would come from property investment. \u003C/p>\r\n\u003Cp>He also said the current 4,070 hectares of its landbank were located in ideal locations in Malaysia and China, which make it commercially viable to be developed in the next 15 years. \u003C/p>\r\n\u003Cp>The proposed demerger exercise is expected to be completed by year-end. \u003C/p>\r\n\u003Cp>Meanwhile, IOI Properties Group is expected to be listed on the Main Board of Bursa Malaysia next year. -- BERNAMA \u003Cbr />\r\n\u003C/p>",{"id":3536,"name":3537},[3724],{"id":14,"name":15},[],{"meta_title":3720,"meta_description":3727,"meta_keywords":28},"PUTRAJAYA: IOI Corporation Bhd, which has just proposed to demerge its property and related businesses and subsidiaries into IOI Properties Group Sdn...",{"id":2076,"title":3729,"date":3697,"body":3730,"source":3731,"type":3732,"image":3734,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3702,"created_at":3702,"content_type":24,"related_news":3737,"metatag":3738},"IOI's Lee set to be nation's 3rd richest","\u003Cp>MALAYSIA'S sixth richest man, Tan Sri Lee Shin Cheng will be the biggest winner upon the relisting of IOI Corp Bhd's unit, IOI Properties Bhd. \u003Cbr />\r\n  \u003Cbr />With a stake of 45.77 per cent, Lee is currently the single largest shareholder in the plantation and property conglomerate IOI Corp.\u003C/p>\r\n\u003Cp>From a wealth creation perspective, the deal will generate billions of ringgit for Lee and his family.\u003C/p>\r\n\u003Cp>According to Forbes magazine, Lee has a net worth of US$4.5 billion (RM13.4 billion) as of March 2013.\u003C/p>\r\n\u003Cp>Based on the current RM18.6 billion market value of IOI Properties, it could bring in an additional RM8.55 billion (about US$2.85 billion) for Lee, bringing his net worth to about US$7.36 billion.\u003Cbr />\u003C/p>\u003Cimg src=\"https://www.ioigroup.com/Files/News/image/IOI_lee150313.jpg\" alt=\"\" />\u003Ctable align=\"right\" border=\"0\" cellpadding=\"4\" cellspacing=\"4\" width=\"3%\">\u003Ctbody> \r\n\u003C/tbody>\u003C/table>\u003Cp>\u003Cbr />\u003C/p>\u003Cp>Likewise, Lee will also surpass Tan Sri Lim Kok Thay of Genting Group (net worth of US$6.6 billion) and emerge as the third richest person in Malaysia.\u003C/p>\r\n\u003Cp>IOI Corp privatised IOI Properties in 2009 in a deal valued at RM1.3 billion. Upon the relisting, the property unit's asset value will balloon to RM14.6 million, a huge jump of 1,076 per cent.\u003C/p>\r\n\u003Cp>"We privatised IOI Properties in 2009. At that time, the price was too low and that's why we privatised it.\u003C/p>\r\n\u003Cp>"And now that it has matured, we are going to demerge and relist it."\u003C/p>\r\n\u003Cp>Lee disagreed that the privatisation and relisting are tricks of tycoons to make personal gains.\u003C/p>\r\n\u003Cp>"This is not true at all. We are relisting to enhance the value for shareholders. I am working very hard for the shareholders, not for myself."\u003C/p>\r\n\u003Cp>Upon the relisting exercise, Lee will control 46.19 per cent of the shareholding in the new entity, IOI Properties Group Sdn Bhd, maintaining the company in the Lee family's tight grip.\u003C/p>\r\n\u003Cp>IOI Properties' image has gradually changed since it ventured into the Singapore and China markets.\u003C/p>\r\n\u003Cp>From a township developer, it has transformed into a high-end condominium and commercial property developer.\u003C/p>\r\n\u003Cp>So far, its overseas projects have received encouraging response from buyers, especially the Cityscape and Jalan Lempeng projects in Singapore.\u003C/p>\r\n\u003Cp>"The project in Xiamen, China, will be launched soon. Once it is launched, you can collect 100 per cent payment from the purchasers," Lee said yesterday.\u003C/p>\r\n\u003Cp>While contribution from Xiamen will begin to come on stream, earnings for the next three financial years are anticipated to spike. \u003Cbr />\r\n\u003C/p>",{"id":3536,"name":3537},[3733],{"id":14,"name":15},{"name":3735,"file_name":3735,"url":3736},"ioi_lee150313.jpg","https://www.ioigroup.com/storage/395/ioi_lee150313.jpg",[],{"meta_title":3729,"meta_description":3739,"meta_keywords":28},"MALAYSIA'S sixth richest man, Tan Sri Lee Shin Cheng will be the biggest winner upon the relisting of IOI Corp Bhd's unit, IOI Properties Bhd. With a...",{"id":1970,"title":3741,"date":3697,"body":3742,"source":3743,"type":3744,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3702,"created_at":3702,"content_type":24,"related_news":3746,"metatag":3747},"Hot Stock: IOI jumps 7% on planned listing of RM15 bil property unit","\u003Cp>KUALA LUMPUR (May 14): IOI Corp Bhd rose as much as 7% to its highest in over two years  on the plantation firm's plan to list its real estate operations separately. The property unit is expected to have a minimum market value of some RM15 billion upon listing.\u003Cbr />\r\n  \u003Cbr />\r\n  At 3.30pm, IOI Corp was traded at RM5.46 with some 7.5 million shares done after rising as much as 37 sen to RM5.70. This is the highest since April 2011, according to Bloomberg data.\u003Cbr />\r\n  \u003Cbr />\r\n  IOI Corp said today it plans to list its real estate operations under IOI Properties Group Sdn Bhd on the Malaysian stock exchange. \u003Cbr />\r\n  \u003Cbr />\r\n  According to IOI Corp, IOI Properties will have an expanded issued share base of some 3.28 billion shares upon listing. Based on an indicative issue price of at least RM4.46 a share,  IOI Properties is expected to have a market capitalisation of RM14.63 billion.\u003Cbr />\r\n  \u003Cbr />\r\n  In a note, JP Morgan said a market value of between RM10 and RM15 billion for IOI Properties \"looks somewhat aggressive\".\u003Cbr />\r\n  \u003Cbr />\r\n  This is because the market value indicates a price-to-earnings ratio (PER) of between 20 and 25 times 2014 earnings for IOI Properties. This compares to a PER of 16.7 times for the domestic property sector,  according to JP Morgan.\u003Cbr />\r\n  \u003Cbr />\r\n  At a RM10 billion to RM15 billion market capitalisation range for IOI Properties, JP Morgan said its target price for IOI Corp rises to between RM4.90 and RM5.70 from RM4.10.\u003Cbr />\r\n  \u003Cbr />\r\n\"This is on our base assumption of CPO (crude palm oil) at RM2,600 a tonne for the plantation division,\" the research firm said.\u003C/p>",{"id":109,"name":110},[3745],{"id":14,"name":15},[],{"meta_title":3741,"meta_description":3748,"meta_keywords":28},"KUALA LUMPUR (May 14): IOI Corp Bhd rose as much as 7% to its highest in over two years  on the plantation firm's plan to list its real estate operati...",{"id":3750,"title":3751,"date":3697,"body":3752,"source":3753,"type":3754,"image":3756,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3702,"created_at":3702,"content_type":24,"related_news":3759,"metatag":3760},89,"IOI Corp to spin off property arm","\u003Ctable align=\"center\" border=\"0\" cellpadding=\"4\" cellspacing=\"4\" width=\"23%\">\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/ROL_TanSriLee.jpg\" />\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan style=\"font-size: 8pt;\">\u003Cspan>IOI Corp Bhd executive chairman Tan Sri Lee Shin Cheng at a press conference after announcing the demerger and relisting of  its properties division at Putrajaya Marriott Hotel & Spa 14 May 2013.\u003C/span>\u003C/span>\u003C/td>\u003C/tr>\u003C/tbody>\u003C/table>\u003Cbr />\u003Cp>PUTRAJAYA (May 15, 2013): IOI Corp Bhd's soon-to-be-relisted property company is expected to generate RM1 billion in operating profit in the next three years, said its executive chairman Tan Sri Lee Shin Cheng.\u003C/p>\r\n\u003Cp>The property unit currently generates about RM506.3 million in operating profit.\u003C/p>\r\n\u003Cp>Lee said the property entity expects to see some RM2 billion in annual sales in the next three years.\u003C/p>\r\n\u003Cp>Under a string of proposals announced yesterday, IOI Corp will inject IOI Properties Bhd, its subsidiaries in property investment and other property-related businesses as well as two parcels of agricultural land measuring 500 acres and 1,279 acres in Bahau and Segamat respectively into a newco called IOI Properties Group Bhd, which is expected to be listed on the Main Market of Bursa Malaysia by the end of this year.\u003C/p>\r\n\u003Cp>Instead of cash, IOI Corp will get 3.24 billion shares in the new entity.\u003C/p>\r\n\u003Cp>Up to to 2.162 billion or a 66% stake in the company will be re-distributed to IOI Corp's shareholders on the basis of one new company share for every three shares held in IOI Corp.\u003C/p>\r\n\u003Cp>Another 33% or 1.081 billion of shares held by IOI Corp will then be offered to shareholders through a proposed non-renounceable restricted offer for sale (ROS) at up to 30% discount, of the listing reference price. Lee will take up the ROS not subscribed by shareholders.\u003C/p>\r\n\u003Cp>Meanwhile, the enlarged IOI Properties Group will have 10,000 acres of landbank with gross development value of RM16 billion spread across Malaysia, Singapore and China. Of this total, about 90% is located domestically.\u003C/p>\r\n\u003Cp>IOI Properties Group will also purchase 10% stakes in Property Village Bhd and Property Skyline Sdn Bhd from Summervest Sdn Bhd, a private company controlled by Lee. This purchase is valued at RM196.345 million to be satisfied via an issuance of up to 43.997 million shares in the new property company.\u003C/p>\r\n\u003Cp>Both the transactions value the new property company shares at RM4.46 a piece. \u003C/p>\r\n\u003Cp>The whole exercise will see the property firm listed at more than 10 times the size it was when it was taken private by IOI Corp some three years ago. IOI Properties was valued at RM1.3 billion when it was taken private in 2009.\u003C/p>\r\n\u003Cp>The property company that IOI Corp is looking to list now, will have a real net asset value (RNAV) of RM14.5 billion at the demerger stage.\u003C/p>\r\n\u003Cp>\"It is very different this time around. At that point (in 2009) IOI Corp was doing so well, we had forgotten about our property business. After privatisation, we managed to grow our landbank in very strategic locations and now we want to share our success with our shareholders.\u003C/p>\r\n\u003Cp>\"The 30% discount we are giving shareholders for our ROS will benefit shareholders,\" Lee told analysts and media in a briefing yesterday.\u003C/p>\r\n\u003Cp>IOI Corp expects to list up to 3.287 billion shares in IOI Properties Group on Bursa Malaysia. IOI Corp will cease to be a shareholder in the new property company post-listing.\u003C/p>\r\n\u003Cp>IOI Properties Group is expected to have two CEOs who will be named at a later date, said Lee, who is expected to stay on as chairman.\u003C/p>\r\n\u003Cp>On crude palm oil prices, Lee said he expects prices to reach RM2,800 per tonne by the end of the year as the reduction in palm oil stockpile has been encouraging. \u003C/p>\r\n\u003Cp>Malaysia's April 2013 stockpile dipped below 2 million tonnes for the first time in nine-months.\u003Cbr />   \u003C/p>",{"id":1804,"name":1805},[3755],{"id":14,"name":15},{"name":3757,"file_name":3757,"url":3758},"rol_tansrilee.jpg","https://www.ioigroup.com/storage/396/rol_tansrilee.jpg",[],{"meta_title":3751,"meta_description":3761,"meta_keywords":28},"IOI Corp Bhd executive chairman Tan Sri Lee Shin Cheng at a press conference after announcing the demerger and relisting of its properties division at...",{"id":1744,"title":3763,"date":3697,"body":3764,"source":3765,"type":3766,"image":3768,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3702,"created_at":3702,"content_type":24,"related_news":3771,"metatag":3772},"Highlight: IOI Corp to list property unit","\u003Cp>KUALA LUMPUR: The demerger and listing of IOI Corp Bhd’s property unit look set to create the largest developer on Bursa Malaysia in terms of market capitalisation.\u003Cbr />\r\n  \u003Cbr />\r\n  Upon its listing planned for the end of this year on the local bourse, the new listed entity, IOI Properties Group Sdn Bhd (IOIPG), is expected to have a market capitalisation of RM14.66 billion, surpassing UEM Land Holdings Bhd’s RM13.8 billion based on the latter’s closing price yesterday. \u003Cbr />\r\n  \u003Cbr />\r\n  IOI Corp yesterday announced a demerger exercise whereby it will inject its property assets and related subsidiaries at RM12.68 billion into IOIPG while at the same time, capitalising RM1.8 billion of inter-company debt into equity in IOIPG. \u003Cbr />\r\n  \u003Cbr />\r\n  Together with the injection of RM196 million worth of family-owned assets by IOI Corp’s major shareholder — the Lee family, into IOIPG, the total consideration works out to RM14.67 billion, to be satisfied by the issue of 3.287 billion IOIPG shares at RM4.46 per share. \u003Cbr />\r\n  \u003Cbr />\r\n  About 2.16 billion IOIPG shares will be distributed to IOI Corp shareholders for free, on the basis of one IOIPG share for every three IOI Corp shares held. \u003Cbr />\u003Cbr />Meanwhile, under a restricted offer for sale (ROS), 1.08 billion\u003Cbr />\r\n  IOIPG shares will be offered for sale to IOI Corp shareholders on the basis of one IOIPG share for every six IOI Corp shares held. \u003Cbr />\r\n  \u003Cbr />\r\n  The exercise confirms a recent report by The Edge stating that the listing of IOI Corp’s property unit would be implemented through a demerger. \u003Cbr />\r\n  \u003Cbr />\r\nAccording to IOI Corp, independent valuers have appraised the market value of the assets and subsidiaries to be injected into IOIPG at a whopping RM18.5 billion. \u003Cbr />\u003C/p>\u003Ctable style=\"text-align: center;\" align=\"center\" cellpadding=\"4\" cellspacing=\"4\">\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/ioi_pic150513.jpg\" />\u003Cbr />\u003C/td>\u003C/tr>\u003C/tbody>\u003C/table>\u003Cp> \u003C/p>\r\n\u003Cp>“The proposed demerger of the property-related business from IOI Corp has excited the property sector and has been deemed a catalyst for the sector due to our asset size of RM18.5 billion. It also has international exposure,” said IOI Corp group executive chairman Tan Sri Lee Shin Cheng at a briefing yesterday.\u003Cbr />\r\n  \u003Cbr />\r\n  “The proposed listing on Bursa will be one of the biggest for listed property companies in the country,” Lee added.\u003Cbr />\r\n  \u003Cbr />\r\n  It is worth noting that the proposed offer price for the ROS will be up to approximately 30% discount to reference price and is expected to raise about RM1.9 billion, of which RM1.8 billion will be used to pare down the borrowings of IOI Corp.  \u003Cbr />\r\n  \u003Cbr />\r\nLee will underwrite IOIPG shares which are not subscribed by shareholders under the ROS.\u003C/p>\r\n\u003Cp>“The main objective is to provide IOI Corp shareholders an opportunity to unlock their value between the currently listed plantation and resource-based manufacturing businesses with the soon-to-be-listed property-related businesses.\u003Cbr />\u003Cbr />“Plantation companies normally trade at a higher PE [price-earnings] ratio, compared to property companies. Right now, property companies trade at a PE of 10 to 13 times. So, we want to see IOIPG’s PE trade closer to IOI Corp’s PE in the near future because we have strategic location landbank in Malaysia and overseas,” Lee added.\u003Cbr />\u003Cbr />The group executive chairman is expecting not less than RM1 billion in annual operating profit from the new listed entity in the next three years, adding that earnings contribution would come not only from Malaysia but also from Singapore and China.\u003Cbr />\u003Cbr />In the financial year ended June 30 last year, IOI Corp’s property division recorded an operating profit of RM506.3 million.\u003Cbr />\u003Cbr />“We expect earnings from Malaysia and overseas to be even, on a 50:50 ratio in the next three years”, Lee said, adding that in the next five years, property development will account for 60% of contribution, while the remaining 40% will come from property investment. Lee also said the current 4,070ha of its landbank are located in ideal locations in Malaysia and China, and they will make development commercially viable in the next 15 years.\u003Cbr />\u003Cbr />As for the candidate who will take on the CEO position in the new listed company, Lee remained mum on the names. But, Lee said he will continue to lead both entities as chairman.\u003Cbr />\u003Cbr />The exercise is jointly advised by AmInvestment Bank Bhd and RHB Investment Bank Bhd. \u003C/p>",{"id":109,"name":110},[3767],{"id":14,"name":15},{"name":3769,"file_name":3769,"url":3770},"ioi_pic150513.jpg","https://www.ioigroup.com/storage/397/ioi_pic150513.jpg",[],{"meta_title":3763,"meta_description":3773,"meta_keywords":28},"KUALA LUMPUR: The demerger and listing of IOI Corp Bhd’s property unit look set to create the largest developer on Bursa Malaysia in terms of market c...",{"id":3775,"title":3776,"date":3777,"body":3778,"source":3779,"type":3782,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3702,"created_at":3702,"content_type":24,"related_news":3784,"metatag":3785},91,"IOI to Spin Off Property Unit in $4.22 Billion Listing","2013-05-14T00:00:00.000000Z","\u003Cp>PUTRAJAYA, Malaysia—Palm oil producer IOI Corp. said Tuesday it is spinning off its real estate business in a $4.22 billion listing on the Malaysian stock exchange by mid-December, joining at least three other companies in tapping the country's capital market for billions of dollars in cash. \u003C/p>\r\n\u003Cp>Malaysia's initial public offering market has been buzzing in the past week after a lull in recent months because of uncertainties ahead of the May 5 general elections. The listing is the country's biggest so far this year and will help cement the Malaysia's position as one of Asia's hot spots for deals. \u003C/p>\r\n\u003Cp>"The IOI property business is on a stronger footing now. Following the firm's delisting, we have built up the property land bank in strategic locations, so it is about time we unlock value in the property business," Malaysian tycoon and IOI Executive Chairman Lee Shin Cheng said. \u003C/p>\r\n\u003Cp>In 2009, Malaysia's fourth-largest listed palm oil producer by acreage bought out its property arm for 310 million ringgit ($103.4 million) in cash and shares, valuing the unit at roughly 1.3 billion ringgit. \u003C/p>\r\n\u003Cp>Malaysia's fourth-largest listed palm oil producer by acreage will inject its property development, real-estate investments, land and other related businesses into IOI Properties Group Sdn. Bhd. in exchange for shares in IOI Properties, IOI Corp. said in a statement to the Malaysian stock exchange. IOI Corp. will also distribute one share in the new unit for every three held by existing shareholders. \u003C/p>\r\n\u003Cp>Mr. Lee said IOI Corp. will raise 1.9 billion ringgit in a sale of existing shares in IOI Properties, and will use 1.8 billion ringgit to repay bank loans. The remaining funds will go toward listing expenses. \u003C/p>\r\n\u003Cp>New-share issuance in Kuala Lumpur has soared in recent years, and leapt to the top spot in Southeast Asia last year with almost $12 billion raised. So far this year, the country ranks fifth in the region, according to data tracker Dealogic. \u003C/p>\r\n\u003Cp>Shares of IOI Corp. had been suspended since Thursday pending the listing announcement, and closed 2.4% higher at 5.46 ringgit Tuesday. \u003C/p>\r\n\u003Cp>Apart from IOI Properties, long-haul budget carrier AirAsia X plans to raise up to $300 million in an initial public offering in Malaysia, and Iskandar Waterfront Holdings Sdn. Bhd. also plans to raise $300 million ahead of a domestic listing later this year. \u003C/p>\r\n\u003Cp>IOI Properties owns vast tracts of land in Iskandar Malaysia, a special economic region in the southern state of Johor that comprises private apartments and houses. Mr. Lee said the company expects buying interest from investors from neighboring Singapore to remain firm because of government measures to cool the city-state's property market and restrict land ownership. \u003C/p>\r\n\u003Cp>The property unit will own assets that are valued at more than 17.9 billion ringgit ($6 billion), IOI Corp. said, making it the biggest listed property firm in Malaysia by assets. \u003C/p>\r\n\u003Cp>Singapore, which has the highest percentage of millionaire households in the world, is also Asia's most expensive property market after Hong Kong, according to property consultancy Knight Frank. \u003C/p>\r\n\u003Cp>AmInvestment Bank Bhd. and RHB Investment Bank Bhd. are the joint advisers and coordinators for the IOI Properties deal, while Standard Chartered PLC is also a joint global coordinator. \u003Cbr />\r\n\u003C/p>",{"id":3780,"name":3781},21,"online.wsj.com",[3783],{"id":14,"name":15},[],{"meta_title":3776,"meta_description":3786,"meta_keywords":28},"PUTRAJAYA, Malaysia—Palm oil producer IOI Corp. said Tuesday it is spinning off its real estate business in a $4.22 billion listing on the Malaysian s...",{"id":3788,"title":3789,"date":3777,"body":3790,"source":3791,"type":3794,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3702,"created_at":3702,"content_type":24,"related_news":3796,"metatag":3797},92,"IOI to Spin Off Property Arm for Separate Kuala Lumpur Listing","\u003Cp>IOI Corp. (IOI), Malaysia’s second-biggest palm oil producer by market value, said it plans to spin off its property assets for a separate listing to boost its profile and unlock shareholder value. \u003C/p>\r\n\u003Cp>The Selangor-based planter intends to sell 12.7 billion ringgit ($4.3 billion) of real estate and land to IOI Properties Group Sdn. which would list on the Kuala Lumpur stock exchange, according to a regulatory filing today. IOI Corp. would be paid in stock in the new company, which it plans to distribute on a one-for-three basis to existing shareholders, it said. \u003C/p>\r\n\u003Cp>“This will give more transparency to their property division,” Ivy Ng, an analyst at CIMB Investment Bank Bhd., said by phone. “Once it’s carved out, people will see how well they are doing and give them a proper valuation. In that sense, it’s positive.” \u003C/p>\r\n\u003Cp>IOI has a 26-year track record in real estate starting out in township development in Malaysia, according its website It’s now expanding abroad, starting with Singapore. The group generated 584 million ringgit, or 24 percent of its operating income, from its property and hotels operations in its last financial year ended June 2012, according to data compiled by Bloomberg. \u003C/p>\r\n\u003Cp>IOI Properties may list shares at least 4.46 ringgit each, the filing showed. With a proposed total of 3.287 billion shares, that would value the new company at 14.7 billion ringgit, according to calculations by Bloomberg News. A restricted offer for remaining shares would be made, it said. \u003C/p>\r\n\u003Cp>Raising Funds \u003Cbr />The demerger comes four years after IOI Corp. bought out and delisted its real estate unit. After restructuring, IOI Corp. would focus on its core commodities business and hold no direct stake in the property group, even though both listed companies would have some common shareholders. \u003C/p>\r\n\u003Cp>“The proposed demerger provides a platform for the respective entities to pursue different and a more tailored business strategy,” IOI Corp. said in the statement. Listing the property group will “further enhance its corporate reputation,” helping the developer raise funds and expand its customer base, it said. \u003C/p>\r\n\u003Cp>IOI Corp. halted shares on May 9 ahead of today’s announcement and last traded at 5.33 ringgit, up 4.1 percent. \u003C/p>\r\n\u003Cp>AMMB Holdings Bhd., RHB Capital Bhd. and Standard Chartered Plc were appointed joint global coordinators for the proposals, IOI Corp. said. \u003C/p>\r\n\u003Cp>As part of the plan, IOI Properties would buy 196.3 million ringgit of assets from companies controlled by the group’s Chief Executive Officer Lee Shin Cheng. IOI Corp. would get additional shares in lieu of 1.8 billion ringgit of debt, the filing showed. \u003C/p>",{"id":3792,"name":3793},22,"www.businessweek.com",[3795],{"id":14,"name":15},[],{"meta_title":3789,"meta_description":3798,"meta_keywords":28},"IOI Corp. (IOI), Malaysia’s second-biggest palm oil producer by market value, said it plans to spin off its property assets for a separate listing to...",{"id":1207,"title":3800,"date":3777,"body":3801,"source":3802,"type":3803,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3702,"created_at":3702,"content_type":24,"related_news":3805,"metatag":3806},"IOI to list property business separately","\u003Cp>KUALA LUMPUR (May 14): PLANTATION  firm IOI Corp Bhd plans to list its real estate-based operations separately under IOI PROPERTIES Group Sdn Bhd on the Malaysian stock exchange. \u003Cbr />\r\n  \u003Cbr />\r\n  In a statement to Bursa Malaysia today, IOI Corp said IOI Properties will have an expanded issued share base of some 3.28 billion shares upon listing.\u003Cbr />\r\n  \u003Cbr />\r\n\"The proposed listing will enable ListCo (IOI Properties) to gain direct access and participation in the equity market for fund raising in order to provide financial flexibility for the ListCo, to pursue future expansion and growth opportunities\" IOI Corp said.\u003Cbr />\r\n  \u003Cbr />\r\n  Under the exercise, IOI Corp plans to sell its property assets worth a collective RM 12.88 billion to IOI Properties.  In return, IOI Properties will issue about 3.28 billion new shares to IOI Corp.\u003Cbr />\r\n  \u003Cbr />\r\n  IOI Corp will, in turn, distribute to its shareholders 66% of the new IOI Properties shares under a distribution-in-specie. The exercise will be done on the basis of one IOI Properties share for every three IOI Corp units held.\u003Cbr />\r\n  \u003Cbr />\r\n  IOI Corp will also offer for sale its remaining IOI Properties shares on a one-for-six basis.\u003Cbr />\r\n  \u003Cbr />\r\n\"IOI Corp will cease to be a shareholder of ListCo upon completion of the proposed demerger and proposed listing,\" the firm said.\u003Cbr />\r\n  \u003Cbr />\r\n  According to IOI Corp, the issue price for ListCo shares will be fixed at a later date. The price will take into consideration  the enlarged share capital and net assets of ListCo.\u003Cbr />\r\n  \u003Cbr />\r\n\"Strictly for illustration purposes and based on the proposed enlarged share capital of ListCo of up to approximately 3.287 billion shares, the indicative issue price for the proposed disposals amounts to at least approximately RM4.46 per ListCo Share,\" IOI Corp said.\r\n\u003C/p>",{"id":109,"name":110},[3804],{"id":14,"name":15},[],{"meta_title":3800,"meta_description":3807,"meta_keywords":28},"KUALA LUMPUR (May 14): PLANTATION firm IOI Corp Bhd plans to list its real estate-based operations separately under IOI PROPERTIES Group Sdn Bhd on th...",{"id":2831,"title":3809,"date":3777,"body":3810,"source":3811,"type":3812,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3702,"created_at":3702,"content_type":24,"related_news":3814,"metatag":3815},"IOI Corp To List Property Business On Main Board Of Bursa Malaysia Securities","\u003Cp>PUTRAJAYA, May 14 (Bernama) -- IOI Corporation Bhd (IOIC) proposes to list its property business on the Main Market of Bursa Malaysia Securities.\u003C/p>\r\n\u003Cp>Under the proposal, the property business will be placed under IOI Properties Group Sdn Bhd (ListCo), while the other business such as the plantation will be under IOIC.\u003C/p>\r\n\u003Cp>Under the proposal, IOIC proposes to dispose its entire equity interest in IOI Properties Bhd and its subsidiaries, associated companies and jointly controlled entities to ListCo for RM9.769 billion to be satisfied with the issuance of up to 2.189 billion new shares in ListCo.\u003C/p>\r\n\u003Cp>In a filing with Bursa Malaysia Securities, IOIC announced that it also proposed to dispose other subsidiaries that are involved in property-related business to ListCo for RM2.630 billion to be satisfied with the issuance of up to 589.269 million new ListCo shares.\u003C/p>\r\n\u003Cp>Lastly, IOI proposed to dispose two parcels of agriculture land in Negeri Sembilan and Johor totalling 711 hectares to ListCo for RM276.2 million to be satisfied with up to 61.891 million new ListCo shares.\u003C/p>\r\n\u003Cp>The ListCo will also acquire 10 per cent equity interest in Property Village Bhd and 10 per cent equity interest in Property Skyline Sdn Bhd from Summervest Sdn Bhd for RM196.345 million to be satisfied with issuance of up to 43.997 million ListCo shares.\u003C/p>\r\n\u003Cp>Summervest is a company controlled by IOIC major shareholder, Tan Sri Lee Shin Cheng.\u003C/p>\r\n\u003Cp>Finally, is the proposed capitalisation of about RM1.8 billion, being the amount owed by IOI Properties and other property companies to IOIC Group by way of issuance of up to 403.345 million ListCo shares to IOIC.\u003C/p>\r\n\u003Cp>IOIC also proposed to distribute up to 2.162 billion ListCo shares to be held by IOIC to all its entitled shareholders after the proposed internal re-organisation by way of distribution in specie on the basis of one ListCo shares for every three shares held in IOIC.\u003C/p>\r\n\u003Cp>IOIC also proposed a non-renounceable restricted offer for sale of all the remaining ListCo Shares to be held by IOIC after the proposed distribution amounting to 1.081 billion ListCo shares on the basis of one ListCO shares for every six IOIC held at an offer price to be determined later.\u003C/p>\r\n\u003Cp>-- BERNAMA\u003C/p>",{"id":560,"name":561},[3813],{"id":14,"name":15},[],{"meta_title":3809,"meta_description":3816,"meta_keywords":28},"PUTRAJAYA, May 14 (Bernama) -- IOI Corporation Bhd (IOIC) proposes to list its property business on the Main Market of Bursa Malaysia Securities. Unde...",{"id":984,"title":3818,"date":3777,"body":3819,"source":3820,"type":3821,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3823,"created_at":3823,"content_type":24,"related_news":3824,"metatag":3825},"IOI Corp injects property arm into new entity for RM9.76b","\u003Cp>KUALA LUMPUR: IOI Corporation Bhd has proposed to demerge its property and \r\nrelated businesses and subsidiaries into IOI Properties Sdn Bhd, to be known as \r\nthe listing company (ListCo).\u003C/p>\r\n\u003Cp>IOI Corp said on Tuesday the corporate exercise would then see it disposing \r\nits entire stake in IOI Properties Bhd to ListCo for RM9.768bil in exchange for \r\n2.189 billion new RM1 shares in the ListCo.\u003C/p>\r\n\u003Cp>The plantation giant would subsequently dispose of other subsidiaries \r\ninvolved in property development to the ListCo for RM2.629bil in exchange for \r\n589.268 million new ListCo Shares.\u003C/p>\r\n\u003Cp>IOI Corp would also dispose of 500 acres of agriculture land in Rompin in \r\nNegeri Sembilan, which will be converted to commercial/residential use, and \r\n1,279 acres of land in Segamat to the ListCo for RM276mil for 61.89 million new \r\nshares.\u003C/p>\r\n\u003Cp>It said the ListCo would acquire a 10% stake in Property Village Bhd from \r\nSummervest Sdn Bhd (a company controlled by Tan Sri Lee Shin Cheng, a major \r\nshareholder of IOI Corp). ListCo would acquire a 10% stake in Property Skyline \r\nSdn Bhd from Summervest for RM196.34mil in exchange for up to 43.997 million new \r\nListCo shares.\u003C/p>\r\n\u003Cp>IOI Corp also said the corporate exercise would involve IOI Corp distributing \r\nup to 2.162 billion ListCo shares to entitled shareholders after the exercise. \r\nThis would be on the basis of one ListCo share for every three shares held in \r\nIOI Corp, or about 66% of the enlarged ListCo shares.\u003C/p>\r\n\u003Cp>The exercise would also involve a non-renounceable restricted offer for sale \r\nof all of the remaining ListCo shares to be held by IOI Corp after the proposed \r\ndistribution amounting up to 1.081 billion ListCo Shares to the entitled \r\nshareholders of IOI Corp.\u003C/p>\r\n\u003Cp>This would be on the basis of one ListCo share for every six IOI Corp Shares \r\nat an offer price to be determined later, comprising 33% of the enlarged ListCo \r\nshares.\u003C/p>\r\n\u003Cp>IOI Corp said the proposed demerger was expected to result in greater \r\nvisibility on separate performance of IOI Corp group's plantation business and \r\nListCo's property related business, \"enabling the capital market and \r\nshareholders to better ascertain the respective merits and prospects of two \r\ndistinct businesses\".\u003C/p>\r\n\u003Cp>\"In addition, the proposed demerger will allow IOI Corp to unlock its \r\nshareholders value and enable IOIC to reward its existing shareholders by \r\nproviding them with an opportunity to directly participate in the ownership of, \r\nand enjoy returns from shares held in two separately listed companies on the \r\nMain Market of Bursa Securities,\" the company said. \u003Cbr />\u003C/p>",{"id":10,"name":11},[3822],{"id":14,"name":15},"2025-05-02T09:50:41.000000Z",[],{"meta_title":3818,"meta_description":3826,"meta_keywords":28},"KUALA LUMPUR: IOI Corporation Bhd has proposed to demerge its property and related businesses and subsidiaries into IOI Properties Sdn Bhd, to be know...",{"id":316,"title":3828,"date":3777,"body":3829,"source":3830,"type":3831,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3823,"created_at":3823,"content_type":24,"related_news":3833,"metatag":3834},"IOI Corp shares up 7% to RM5.70 on demerger, share distribution","\u003Cp>KUALA LUMPUR: Shares of IOI Corporation Bhd jumped nearly 7% to a high of \r\nRM5.70 when the company resumed trading on Tuesday after unveiling a \r\nmulti-billion ringgit demerger plan.\u003C/p>\r\n\u003Cp>At 2.31pm, it was up 32 sen to RM5.65. There were 440,800 shares done at \r\nprices ranging from RM5.65 to RM5.70.\u003C/p>\r\n\u003Cp>The FBM KLCI turned positive, with the index up 1,56 points to 1,789.46. \r\nTurnover was 1.21 billion shares valued at RM1.24bil. There were 295 gainers, \r\n553 losers and 248 counters unchanged.\u003C/p>\r\n\u003Cp>Below is the earlier story\u003C/p>\r\n\u003Cp>KUALA LUMPUR: IOI Corporation Bhd has proposed to demerge the property and \r\nrelated businesses and its subsidiaries into IOI Properties Sdn Bhd, which will \r\nbe the listing company (ListCo) while IOI Corp will continue with the existing \r\nplantations business.\u003C/p>\r\n\u003Cp>IOI Corp said on Tuesday the corporate exercise would then see it disposing \r\nits entire stake in IOI Properties Bhd to ListCo for RM9.768bil in exchange for \r\n2.189 billion new RM1 shares in the ListCo.\u003C/p>\r\n\u003Cp>IOI Corp would then dispose of other subsidiaries involved in property \r\ndevelopment to the ListCo for RM2.629bil in exchange for 589.268 million new \r\nListCo Shares.\u003C/p>\r\n\u003Cp>IOI Corp would also dispose of 500 acres of agriculture land in Rompin in \r\nNegeri Sembilan, which will be converted to commercial/residential use, and also \r\n1,279 acres of land in Segamat to the ListCo for RM276mil for 61.89 million new \r\nshares.\u003C/p>\r\n\u003Cp>It said the ListCo would acquire a 10% stake in Property Village Bhd from \r\nSummervest Sdn Bhd (a company controlled by Tan Sri Lee Shin Cheng, a major \r\nshareholder of IOI Corp). ListCo would acquire a 10% stake in Property Skyline \r\nSdn Bhd from Summervest, for RM196.34mil in exchange for up to 43.997 million \r\nnew ListCo shares.\u003C/p>\r\n\u003Cp>IOI Corp also said the corporate exercise would involve IOI Corp distributing \r\nup to 2.162 billion ListCo shares to entitled shareholders after the exercise. \r\nThis would be on the basis of one ListCo share for every three shares held in \r\nIOI Corp. This would be about 66% of the enlarged ListCo shares.\u003C/p>\r\n\u003Cp>The exercise would also involve a non-renounceable restricted offer for sale \r\nof all of the remaining ListCo shares to be held by IOI Corp after the proposed \r\ndistribution amounting up to 1.081 billion ListCo Shares, to the entitled \r\nshareholders of IOI Corp.\u003C/p>\r\n\u003Cp>This would be on the basis of one ListCo share for every six IOI Corp Shares, \r\nat an offer price to be determined later, which would about 33% of the enlarged \r\nListCo shares.\u003C/p>\r\n\u003Cp>IOI Corp said the proposed demerger was expected to result in greater \r\nvisibility on separate performance of IOI Corp group's plantation business and \r\nListCo's property related business, \"enabling the capital market and \r\nshareholders to better ascertain the respective merits and prospects of two \r\ndistinct businesses\".\u003C/p>\r\n\u003Cp>\"In addition, the proposed demerger will allow IOI Corp to unlock its \r\nshareholders value and enable IOIC to reward its existing shareholders by \r\nproviding them with an opportunity to directly participate in the ownership of, \r\nand enjoy returns from shares held in two separately listed companies on the \r\nMain Market of Bursa Securities,\" it said.\u003Cbr />\u003C/p>",{"id":10,"name":11},[3832],{"id":14,"name":15},[],{"meta_title":3828,"meta_description":3835,"meta_keywords":28},"KUALA LUMPUR: Shares of IOI Corporation Bhd jumped nearly 7% to a high of RM5.70 when the company resumed trading on Tuesday after unveiling a multi-b...",{"id":3837,"title":3838,"date":3839,"body":3840,"source":3841,"type":3842,"image":3844,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3823,"created_at":3823,"content_type":24,"related_news":3847,"metatag":3848},97,"IOI Corp sees rising contributions from property, downstream operations","2013-04-08T00:00:00.000000Z","\u003Ctable align=\"center\" border=\"0\" cellpadding=\"4\" cellspacing=\"4\" width=\"11%\">\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/B5887.jpg\" />GROWING DIVISIONS: Photo shows an artist’s impression of IOI Corp’s Skypod Residences Development in Bandar Puchong Jaya. IOI Corp is looking into leveraging on its improving property division and downstream operations to offset its potentially weak \u003C/td>\u003C/tr>\u003C/tbody>\u003C/table>\u003Cp>\u003Cbr />KUCHING: IOI Corporation Bhd (IOI Corp) is looking into leveraging on its improving property division and downstream operations, given the increasing property development activities in Malaysia as well as Singapore.\u003C/p>\r\n\u003Cp>The performance of IOI Corp in its property division and downstream operations would potentially offset its upstream plantations division which was expected to be weak going forward due to the lacklustre crude palm oil (CPO) prices.\u003C/p>\r\n\u003Cp>According to RHB Research Sdn Bhd (RHB Research) in a recent research note, while approximately 70 per cent of IOI Corp’s earnings came from the upstream and downstream plantations operations, the research firm opined that IOI Corp’s focus in recent times was on the expansion of its property earnings, both in Malaysia and in Singapore.\u003C/p>\r\n\u003Cp>While this move was not expected to bode well with investors who bought IOI Corp for its plantation exposure, the research firm remained optimistic as IOI Corp’s various property ventures were starting to bear fruit.\u003C/p>\r\n\u003Cp>RHB Research outlined that its Malaysian property continued to stream in solid revenue and earnings to IOI Corp’s growth.\u003C/p>\r\n\u003Cp>Over the borders, IOI Corp’s properties was also picking up pace as a number of projects had already been launched and several more were in its pipeline in Singapore, the research firm highlighted.\u003C/p>\r\n\u003Cp>“As earnings from its overseas property ventures start to come in, we believe IOI Corp may relook at the option of re-listing its property arm, which would enable investors to channel their investments in a more focused manner.\u003C/p>\r\n\u003Cp>“While a relisting is not likely to come about anytime soon (given the election overhang), this option should not be ruled out,” it opined.\u003C/p>\r\n\u003Cp>Meanwhile, the research firm noted, profitability at IOI Corp’s downstream manufacturing operations was improving, on the back of lower feedstock prices and improved competitiveness versus Indonesia.\u003C/p>\r\n\u003Cp>In the second quarter of the financial year ended June 2013 (2QFY06/13), IOI Corp recorded earnings before interest and tax margins of 5.2 per cent, up from 2.2 per cent in 1QFY06/13 and 3.1 per cent in 2QFY06/12.\u003C/p>\r\n\u003Cp>Additionally, the research firm said, IOI Corp’s refinery operations, which were running at utilisation rates of 80 per cent and above, currently recorded operating margins of US$15 to US$20 per tonne.\u003C/p>\r\n\u003Cp>Its oleochemical and specialty fat operation was also seeing improving margins, although no guidance was given as to the quantum.\u003C/p>\r\n\u003Cp>In the immediate term, the research firm pointed out that IOI Corp had no plans to expand its downstream operations, as several expansions had already been completed over the last one to two years, notably its refinery expansion in Rotterdam and its specialty fats expansion in Malaysia.\u003C/p>\r\n\u003Cp>“We have projected IOI Corp’s manufacturing margins to range between three and four per cent in, up from 1.8 per cent in FY06/12,” it added.\u003C/p>\r\n\u003Cp>On the other hand, with regards to IOI Corp’s upstream plantation operations, RHB Research said that albeit the potential lacklustre CPO prices, the group’s management was fairly optimistic on the CPO prices, as it expected the prices to range between RM2,400 and 2,700 per tonne over the near term.\u003C/p>\r\n\u003Cp>“Management’s view is based on its belief that CPO stocks in Malaysia should come down towards two million tonnes in the next few months, as we move further into the off-peak season.\u003C/p>\r\n\u003Cp>“IOI Corp does do some forward sales, but currently, it is only a small percentage of the group’s total CPO production of 0.7 million tonnes per annum,” the research firm explained.\u003C/p>\r\n\u003Cp>It also noted that IOI Corp’s new planting in Indonesia, which had been slow in previous years, should start picking up pace from FY06/13 onwards.\u003C/p>\r\n\u003Cp>“In terms of earnings contributions, we expect IOI Corp’s Indonesian plantations to start contributing more significantly (more than 10 per cent) to group plantation profits only by FY06/17 to FY06/18.”\u003Cbr />\r\n\u003C/p>",{"id":241,"name":242},[3843],{"id":14,"name":15},{"name":3845,"file_name":3845,"url":3846},"b5887.jpg","https://www.ioigroup.com/storage/398/b5887.jpg",[],{"meta_title":3838,"meta_description":3849,"meta_keywords":28},"GROWING DIVISIONS: Photo shows an artist’s impression of IOI Corp’s Skypod Residences Development in Bandar Puchong Jaya. IOI Corp is looking into lev...",{"id":3851,"title":3852,"date":3853,"body":3854,"source":3855,"type":3858,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3823,"created_at":3823,"content_type":24,"related_news":3860,"metatag":3861},98,"IOI Loders Croklaan Awarded Worldwide Patents for Betapol®","2013-04-02T00:00:00.000000Z","\u003Cp>THE NETHERLANDS—IOI Loders Croklaan announced Betapol® fat blend recently was \r\nawarded 17 new patents worldwide for the product’s production processes. The \r\nproduct mimics the unique fat composition and structure of human milk. It is a \r\nclose natural match to breast milk fat and has become the scientifically \r\nsubstantiated standard for high-quality infant formula. \u003C/p>\r\n\u003Cp>Among the latest patents granted IOI Loders Croklaan are several that provide \r\nworldwide protection for the process currently used in the company’s dedicated \r\nBetapol facilities in Malaysia and The Netherlands. This process involved the \r\nenzymatic acidolysis of a palm stearin component with oleic acid to produce an \r\nOPO-type fat, a process unique to the company.\u003C/p>\r\n\u003Cp>Other patents protect many other enzymatic routes for making Betapol. The \r\npatents, divided into three patent families, apply in numerous countries \r\nworldwide. \u003C/p>\r\n\u003Cp>“When it comes to products designed for babies, quality assurance is a top \r\npriority,\" says Ulrike Schmid, Ph.D., the company’s global IP and regulatory \r\nmanager and a European patent attorney. The new patents, she says, provide the \r\ncompany’s customers with reassurance the products they buy are genuine and of \r\nconsistent quality. Betapol acts as an alternative energy source for babies \r\nwhose mother’s are unable to breastfeed. \u003Cbr />\u003C/p>",{"id":3856,"name":3857},23,"www.foodproductdesign.com",[3859],{"id":14,"name":15},[],{"meta_title":3852,"meta_description":3862,"meta_keywords":28},"THE NETHERLANDS—IOI Loders Croklaan announced Betapol® fat blend recently was awarded 17 new patents worldwide for the product’s production processes....",{"id":3864,"title":3865,"date":3866,"body":3867,"source":3868,"type":3869,"image":3871,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3823,"created_at":3823,"content_type":24,"related_news":3874,"metatag":3875},99,"Worst over for plantation cycle, CPO price seen hitting RM2,900","2013-03-25T00:00:00.000000Z","\u003Ctable align=\"center\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\" height=\"127\" width=\"227\">\u003Ctbody>\r\n    \u003Ctr>\r\n      \u003Ctd style=\"text-align: center;\">\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/ioi_plantation_lee_shin_cheng_b1.jpg\" />\u003C/td>\r\n    \u003C/tr>\r\n    \u003Ctr>\u003Ctd style=\"text-align: center;\">\u003Cspan style=\"font-size: 8pt;\">\u003Cbr />\r\n  Tan Sri Lee Shin Cheng: \"I believe the CPO prices would be going up. So far, I have not been wrong before. Let us see this year.\"\u003C/span>\u003C/td>\r\n\u003C/tr>\u003C/tbody>\u003C/table>\r\n\u003Cp>\u003Cbr />PUTRAJAYA: IOI Corp Bhd executive chairman Tan Sri Lee Shin Cheng is positive on crude palm oil (CPO) prices and believes that the worst of the plantation cycle is over.\u003C/p>\r\n\u003Cp>He foresees CPO prices hitting RM2,900 by the year-end before breaching the RM3,000 level, driven by falling inventory levels and the renewed B10 biodiesel programme, which would pick up pace by the end of 2013.\u003C/p>\r\n\u003Cp>“Furthermore, the price discount between CPO prices and soybean oil is currently at about US$300 (RM930), which is at one of its highest levels,” Lee noted.\u003C/p>\r\n\u003Cp>The CPO price now is at around RM2,430 per tonne.\u003C/p>\r\n\u003Cp>“I believe the CPO prices would be going up. So far, I have not been wrong before. Let us see this year,” he said.\u003C/p>\r\n\u003Cp>He added that inventories were coming down steadily.\u003C/p>\r\n\u003Cp>“We are now also entering the low-crop period. Give that another one to two months, then you'd see things getting better. The fact is that palm oil is a vegetable oil which is a good oil. It contains no trans fatty acid,” Lee said.\u003C/p>\r\n\u003Cp>Lee, Malaysia's sixth wealthiest man, never imagined he would attain what he has today. “All I wanted to do was to become a school teacher and ride a Vespa!”\u003C/p>\r\n\u003Cp>Meanwhile, the Government is now pushing the B10 biodiesel programme to be implemented nationwide by June 2014. This is part of its plan to reduce high palm oil stocks and support the CPO price. As at December 2012, palm oil stocks were are at a record high of 2.63 million tonnes.\u003C/p>\r\n\u003Cp>The B10 palm oil-based biodiesel comprising 10% palm oil and 90% petroleum diesel was launched in early February this year.\u003C/p>\r\n\u003Cp>Plantation Industries and Commodities Minister Tan Sri Bernard Dompok said the Government had allocated a RM300mil grant, of which RM80mil had been disbursed to oil companies and biodiesel producers to set up the infrastructure, ranging from blending facilities and tanks to oil pumps.\u003C/p>\r\n\u003Cp>Dompok said B10 would take away one million tonnes a year from the national stockpile of 2.6 million tonnes.\u003C/p>\r\n\u003Cp>Going back to Lee, he said IOI was aiming to go back to an oil yield of six tonnes per hectare from 4.9 as of 2012. Its oil yield has been on a downtrend in the last five years.\u003C/p>\r\n\u003Cp>“We do face some labour shortage issues and there are difficulties in looking for good estate managers. We don't mind paying higher rates for local workers. We can pay piece rates.\u003C/p>\r\n\u003Cp>“Plantation is all about productivity. A good estate manager and an inefficient estate manager would make a big difference in determining the profits of an estate,” Lee said.\u003C/p>\r\n\u003Cp>As at June 30, 2012, IOI's total planted area stood at 158,881ha, from 158,174ha in 2011. Approximately 99% of the estates' planted area sapns over 82 estates.\u003C/p>\r\n\u003Cp>About 65% of the group's oil palm plantation holdings are in Sabah and Sarawak, 29% in Peninsular Malaysia and the remaining 6% in Indonesia.\u003C/p>\r\n\u003Cp>Lee considers himself a property man just as much as a planter. This is obvious not just from IOI's size, but also its property margins.\u003C/p>\r\n\u003Cp>While IOI Properties was privatised in 2009, the last three financial years have seen the company's revenue base closing in on the RM1bil mark.\u003C/p>\r\n\u003Cp>For the year ended June 30, 2012, the company posted a revenue of RM843mil, a 13% decrease from the RM971mil in the previous year. Operating profit dropped 12% to RM451.13mil.\u003C/p>\r\n\u003Cp>When it was a listed entity, IOI Properties was one of the most profitable developers around.\u003C/p>\r\n\u003Cp>IOI has property developments in Xiamen (China), Singapore and Malaysia, with the bulk of its gross development value in Singapore.\u003C/p>\r\n\u003Cp>Lee said Xiamen was an exciting market which held lots of potential.\u003C/p>\r\n\u003Cp>IOI plans to embark on a RM2bil property development in Xiamen this year. This would be a mixed development comprising a shopping mall, a hotel and office space, condominiums and villas.\u003C/p>\r\n\u003Cp>Lee is just as excited about Singapore and Johor. IOI recently launched its properties in Clementi Avenue Singapore, which he said was very well received. The average selling price was S$1,500 (RM3,736.49) per sq ft.\u003C/p>\r\n\u003Cp>Last year, IOI tendered for the parcel of land in Jalan Lempeng, off Clementi Avenue 6 in Singapore, for S$408mil (RM995mil). It is within walking distance of the Clementi Mass Rapid Transit station and the Clementi bus interchange.\u003C/p>\r\n\u003Cp>“Property is all about stamina and location. The measures taken by the Singaporean government will really drive down property prices, which may not be good for the long term,” Lee said.\u003C/p>\r\n\u003Cp>He is equally optimistic on property in the Iskandar Development region, and has been looking to buy pockets of land around the area. At present, IOI has some 1,416ha for property development spread out in Johor.\u003C/p>\r\n\u003Cp>“Undeniably, the Iskandar region is developing. Property prices in Singapore are still extremely high. The infrastructure is now coming up in Johor.\u003C/p>\r\n\u003Cp>“There is now a good relationship between the governments of Singapore and Malaysia. While you need to be extremely careful with location, I believe Johor holds a lot of potential,” he said.\u003C/p>\r\n\u003Cp>On another note, IOI's new mall, IOI City Mall in Putrajaya, is on track to be completed by end-2014.\u003C/p>\r\n\u003Cp>Lee said it had secured Tesco and Parkson as anchor tenants, and some 60% of the entire 1.4 million lettable area had been taken up. The rental per square feet would be going for approximately RM10 to RM12.\u003Cbr />\u003C/p>",{"id":10,"name":11},[3870],{"id":14,"name":15},{"name":3872,"file_name":3872,"url":3873},"ioi_plantation_lee_shin_cheng_b1.jpg","https://www.ioigroup.com/storage/399/ioi_plantation_lee_shin_cheng_b1.jpg",[],{"meta_title":3865,"meta_description":3876,"meta_keywords":28},"Tan Sri Lee Shin Cheng: \"I believe the CPO prices would be going up. So far, I have not been wrong before. Let us see this year.\" PUTRAJAYA: IOI Corp...",{"id":3878,"title":3879,"date":3880,"body":3881,"source":3882,"type":3883,"image":3885,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3823,"created_at":3823,"content_type":24,"related_news":3888,"metatag":3889},100,"Highlighting the values of palm oil","2013-03-23T00:00:00.000000Z","\u003Ctable align=\"center\" border=\"0\" cellpadding=\"4\" cellspacing=\"4\" height=\"260\" width=\"313\">\u003Ctbody>\u003Ctr>\u003Ctd style=\"text-align: center;\">\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/Power_Lunch_lee_bw04.jpg\" />\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cdiv align=\"center\">\u003Cspan style=\"font-size: 8pt;\">\u003Cspan>The Power Lunch with Lee in Putrajaya.\u003C/span>\u003C/span>\u003C/div>\u003C/td>\u003C/tr>\u003C/tbody>\u003C/table>\u003Cp>MPOC chairman avers that palm oil is healthy and its plantations sustainable.\u003C/p>\u003Cp>DRIVING to the Putrajaya Marriott Hotel was somewhat of a task for me, considering my absolute lack of navigational skills. However, it was a pleasant surprise to pull up to what appeared to be like an oasis at the end of my long travel.\u003C/p>\u003Cp>Car parked and Midori Japanese Restaurant located, I sat down to a Power Lunch session with Datuk Lee Yeow Chor, the group executive director of the IOI Group of companies and chairman of the Malaysian Palm Oil Council (MPOC).\u003C/p>\u003Cp>As Lee ordered our lunch, our conversation flowed around how many in the Klang Valley regard IOI as a property company, when two-thirds of its business is actually focused on oil palm plantations. He shared with me that this core business won a place in his heart when he was still schooling and that he used to accompany his father to visit the plantations. Despite pursuing a legal education (at King's College London) and having practised for several years, the childhood seeds of the family business had been planted. So, in 1994, he joined IOI. He immersed himself in this career with dedication and within a few short years, was an active member of the Rubber Growers Association.\u003C/p>\u003Cp>“I sat in the council before it was disbanded about eight or 10 years ago. When it was disbanded, there was a consolidation of the industry associations. It became the Malaysian Palm Oil Association (MPOA) four associations became one. I was involved in it right from its formation until now.”\u003C/p>\u003Cp>Not content with confining himself to local organisations and associations, and ever on a quest to learn, Lee soon found himself a part of the Young Presidents Organisation (YPO).\u003C/p>\u003Cp>“It's an international body with 20,000 members globally, and there are 60 Malaysian members. The mission of the organisation is to promote leadership through education and the exchange of ideas. For the global leadership conference, we invited speakers like Tony Blair, Sir Richard Branson, etc.\u003C/p>\u003Cp>“I've been a member for six years and I'll be the Malaysian chapter chair in the coming year. We have a forum... about seven or eight of us gather on a monthly basis. We share the issues that we face and also our achievements,” he said, explaining that in addition to discussing business, the YPO also emphasises the importance of personal growth and development.\u003C/p>\u003Cp>Besides the YPO, Lee has also been an active participant in the Forbes Global CEO Conference which was held in Kuala Lumpur in 2011. The conference was attended by approximately 400 people from around the world, and through their invitation, Lee gave a talk and led a dialogue session on commodities and energy, with the focus on palm oil.\u003C/p>\u003Cp>\u003Cstrong>Staying green\u003C/strong>\u003C/p>\u003Cp>Speaking of palm oil, our conversation took a turn to environmental impact and sustainability.\u003C/p>\u003Cp>“One common view is that because of the biofuel pull, Malaysia and Indonesia are frantically felling forests and planting oil palm. But it's not like that. It's a long, sustaining industry that started as rubber plantations a hundred years ago, and we've converted those rubber plantations to oil palm plantations. It has a long history and it's an important foreign exchange earner for the country. Two years ago, RM80bil came from palm oil, and last year, RM70bil,” he explained.\u003C/p>\u003Cp>“If you look at the statistics of forest cover, the United Kingdom has 20%, Germany 30%, while Malaysia has 55%. Malaysia is a green lung for the world,” says Lee with pride.\u003C/p>\u003Cp>At the 1992 Rio Earth Summit, Malaysia made a pledge to preserve 50% of its forests. Lee informed me that currently, we're above that with 55%, and that there are many non-governmental organisations which have recognised the good effort that Malaysia has made in preserving its forests while still sustaining a bustling agricultural industry.\u003C/p>\u003Cp>As for productivity and sustainability, Lee explains that this is actually a non-issue.\u003C/p>\u003Cp>“One statistic is very simple. If you talk about having a limited amount of available land while the population is increasing, where is the food going to come from? The productivity of palm oil is six to 10 times higher than any other vegetable oil. Compared to soybean oil, we are eight times more productive per unit of land.\u003C/p>\u003Cp>“Palm oil is from a tree crop. Once you plant it, it lasts for 25 to 30 years. Soybean and all the rest are annual crops. You have to plant and re-till the land every year. So, just by simple logic, you can imagine which is more environmentally damaging. Annually you till the land and cause erosion, and fertiliser needs to be reapplied.\u003C/p>\u003Cp>“And oil palms are quite big trees. If you look at the foliage, they absorb carbon dioxide. It may not be equivalent to forest trees, but certainly better than tiny soybean plants.”\u003C/p>\u003Cp>As for the by-products, Lee says that they are used productively in various ways, such as fuel to produce electricity and also to make paper, fibreboards, etc.\u003C/p>\u003Cp>\u003Cstrong>Healthy oil\u003C/strong>\u003C/p>\u003Cp>The MPOC has been working hard to change the unfair perception that some people have about palm oil, before finding out for themselves. Lee says that in the United States especially, palm oil has actually been very readily accepted, in some markets, as a healthy alternative to soybean oil.\u003C/p>\u003Cp>“Baked goods and confectionary products use fats that need to be a bit more solid. Soybean oil is a soft oil and it needs to be hydrogenated to make it more solid, and during that process, it produces trans fats.\u003C/p>\u003Cp>“Palm oil is naturally semi-hard, so we don't need to hydrogenate it and that makes it very suitable in bakeries.” Trans fats have been identified to be highly unhealthy, as they have been found to raise bad cholesterol (LDL) levels, and lower good cholesterol (HDL) levels. Some states in the United States have even taken to imposing a ban on trans fats.\u003C/p>\u003Cp>“There's the argument that palm oil contains a higher percentage of saturated fats than soybean oil. But recent studies show that there are several kinds of saturated fats. It's not the same as in butter, animal fats, etc. It's a different fat composition and it does not raise the LDL. In fact, it has a beneficial effect of raising the HDL.\u003C/p>\u003Cp>“So actually, it's beneficial to health. Palm oil is similar in health attributes to olive oil,” he asserts.\u003C/p>\u003Cp>Lee adds that for even healthier benefits, we should look at red palm oil. “It's a specialty oil. It's not so common in Malaysia, but has been exported to the United States and Europe for domestic use. The red hue comes from beta-carotene, and another very important component is tocotrienol a high-grade variant of Vitamin E.”\u003C/p>\u003Cp>Red palm oil has in recent years been garnering popularity, as people are supplementing their diet with it to boost good overall health. In addition, there are focused studies (breast and prostate cancers) underway to evaluate the possible cancer-combating qualities of red palm oil.\u003C/p>\u003Cp>\u003Cstrong>Cooking show \u003C/strong>\u003C/p>\u003Cp>Lee divulges that the MPOC has been financing several documentaries promoting healthy diets, which have aired on the Asian Food Network (AFC), CNBC and BBC. He says many people do not realise that the MPOC is involved in the production of these programmes. The MPOC wants to take a more active stance in bringing awareness of palm oil and its uses to consumers.\u003C/p>\u003Cp>“When we produce the documentaries, I normally advocate that we should project our Malaysian palm oil. Some people have said that we wouldn't be taken seriously and would be seen as biased. But I think what is important is the content, then the prejudice should quickly disappear. That's why with the upcoming cooking show I have suggested, it's been agreed that we would project Malaysian palm oil and even the MPOC.\u003C/p>\u003Cp>“The programme will be promoted and produced by us. Martin Yan from the United States will be the chef on the show, and the theme will be cooking using palm oil. It will be broadcast on the Asian Food Channel,” he says, with a hint of excitement.\u003C/p>",{"id":10,"name":11},[3884],{"id":14,"name":15},{"name":3886,"file_name":3886,"url":3887},"power_lunch_lee_bw04.jpg","https://www.ioigroup.com/storage/400/power_lunch_lee_bw04.jpg",[],{"meta_title":3879,"meta_description":3890,"meta_keywords":28},"The Power Lunch with Lee in Putrajaya.MPOC chairman avers that palm oil is healthy and its plantations sustainable.DRIVING to the Putrajaya Marriott H...",{"id":636,"title":3892,"date":3893,"body":3894,"source":3895,"type":3897,"image":3899,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3823,"created_at":3823,"content_type":24,"related_news":3902,"metatag":3903},"Bumitama Agri Reports FY12 Results","2013-02-27T00:00:00.000000Z","\u003Cimg style=\"float: left;\" alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/Palm_Oil_Purchases.jpg\" border=\"1\" hspace=\"10\" vspace=\"10\" />\u003Cp>Crude palm oil (CPO) and palm kernel (PK) producer Bumitama Agri (Bumitama), has released their FY12 earnings results. Despite the lower CPO prices, which has an impact on overall margins across palm producing players in the market, Bumitama has managed to turn in a 25.7 percent increase in revenue to IDR 3,525,546 million, and a 3.4 percent increase in earnings to IDR 787,896 million for FY12. The revenue growth was largely due to an increase in sales volume of both CPO and PK. Foreign exchange loss, which has partially offset gain on hedging transactions, and a lower gain recognised from fair value changes in biological assets were also seen for Bumitama’s FY12.\u003C/p>\u003Cp>On the overall front, cost increases were largely in line with the increased sales. Selling expenses however saw a 93.6 percent spike for 4Q12. Much of this was attributable to costs related to increased manpower, higher wages and a switch to transport it palm products by trucks instead of via vessels. \u003C/p>\u003Cp>The switch was necessary as a result of acute weather conditions at sea and thus the option of transportation via trucks (which costs more) was used. When asked if Bumitama will be looking to purchase their own vessels for smoothing out future deliveries, Bumitama mentioned that this is already in their pipeline and they are expecting two vessels to be delivered in the first half of 2013.\u003C/p>\u003Cp>On the operational front, Bumitama has also reflected strong production numbers, with FY12’s CPO output reaching a high of 462,291 MT. This is a 34 percent increase compared to that of 2011. Its extraction rate of 23.8 percent remains an industry high, underscoring Bumitama’s operational efficiency.\u003C/p>\u003Cp>Although CPO prices are still expected to be relatively flattish, which will also be coupled with macroeconomic challenges, Bumitama opines that its strong fundamentals as a young, fast growing plantation player with significant land bank and strategic growth plans will be a good anchor for its performance. \u003C/p>\u003Cp>Bumitama’s trees are mostly relatively young and as more trees reach their prime producing years, production and a good harvest will be expected to be seen over the next few quarters.\u003C/p>\u003Cp>When asked about its dividend policy, of whether there would be any pay out of such in 2013, Bumitama said that a pay-out might be “possible”, but this is still largely in the deliberation stage.\u003C/p>\u003Cp>Bumitama’s stock price opened at $1.05 on 27 Feb 2013, and was seen trading at a high of $1.06 as at 10am.\u003C/p>",{"id":3467,"name":3896},"www.sharesinv.com",[3898],{"id":14,"name":15},{"name":3900,"file_name":3900,"url":3901},"palm_oil_purchases.jpg","https://www.ioigroup.com/storage/402/palm_oil_purchases.jpg",[],{"meta_title":3892,"meta_description":3904,"meta_keywords":28},"Crude palm oil (CPO) and palm kernel (PK) producer Bumitama Agri (Bumitama), has released their FY12 earnings results. Despite the lower CPO prices, w...",{"id":279,"title":3906,"date":3907,"body":3908,"source":3909,"type":3910,"image":3912,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3640,"created_at":3640,"content_type":24,"related_news":3915,"metatag":3916},"Firmer CPO price, downstream ops and property sales to support group","2013-02-23T00:00:00.000000Z","\u003Ctable align=\"center\" border=\"0\" cellpadding=\"1\" cellspacing=\"1\" width=\"100%\">\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cdiv align=\"center\">\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/palm_oil_cpo_b13.jpg\" border=\"1\" hspace=\"10\" vspace=\"10\" />\u003C/div>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cdiv align=\"center\">\u003Cspan style=\"font-size: 8pt;\">\u003Cspan>Affin says IOI should see its average CPO price improve to between\u003Cbr /> RM2,500 and RM2,700 per tonne in the\u003Cbr /> remainder of fiscal 2013. - AFP \u003C/span>\u003C/span>\u003C/div>\u003C/td>\u003C/tr>\u003C/tbody>\u003C/table>\u003Cp>PETALING JAYA: While the first half of IOI Corp Bhd's financial year ending June 30, 2013 missed estimates by a tad, the company's second half is expected to be anchored by firmer crude palm oil (CPO) prices, its downstream operations and robust property sales, analysts said.\u003C/p>\u003Cp>Its earnings in the three months to December declined 8% year-on-year and 12% compared with the first quarter, due to the lower contribution from its plantation segment, which makes up close to half of its total income.\u003C/p>\u003Cp>On the bright side, IOI's downstream business recorded higher sales and margins while fresh fruit bunch (FFB) production rose 14.6% on year and 16.3% on quarter.\u003C/p>\u003Cp>To recap, IOI said on Thursday its second quarter profit fell 8% to RM531mil from RM577.7mil in the same period a year ago while revenue dipped 13.7% to RM3.59bil from RM4.17bil.\u003C/p>\u003Cp>For the six months to December, the group posted a 35.8% increase in net profit to RM1.14bil from RM835.8mil. Revenue fell 16.2% to RM6.9bil from RM8.3bil a year earlier.\u003C/p>\u003Cp>This was largely anticipated on the back of the high inventory of palm oil stocks since August of above two million tonnes that curbed CPO prices, hurting margins for local planters.\u003C/p>\u003Cp>In the second quarter, IOI realised an average CPO price of RM2,292 per tonne against RM3,032 in the same period in 2011 and RM2,585 in the first half against RM3,094.\u003C/p>\u003Cp>The lower CPO prices reduced its plantation earnings before interest and taxes margin to 52% in the second quarter from 65% previously to RM282mil.\u003C/p>\u003Cp>According to a note from Affin Investment Bank, IOI should see its average CPO price improve to between RM2,500 and RM2,700 per tonne in the remainder of fiscal 2013.\u003C/p>\u003Cp>The brokerage is also expecting from IOI an FFB production of some 1.6 million tonnes, sustained good performance in its downstream segment and strong property billings and profit on target sales of RM1.1bil.\u003C/p>\u003Cp>For Maybank Investment Bank, IOI's downstream, which includes its oleochemicals, specialty fats, and refining business, was a “star performer”. Margins expanded in the second quarter to 5.2% on cheaper raw material input costs and improved selling prices of specialty fats products.\u003C/p>\u003Cp>“We expect margins to remain healthy in the second half on rising palm oil product prices while the new CPO export tax structure in 2013 should benefit downstream players,” Maybank said.\u003C/p>\u003Cp>Kenanga Research, however, noted that in the short term, low CPO prices should lead to a 19% drop in earnings in fiscal 2013.\u003C/p>\u003Cp>“Even for the longer term, the structural issue of its aging trees should keep its earnings growth limited,” Kenanga said.\u003C/p>\u003Cp>On the other hand, PublicInvest Research believes that the recovery in FFB production and improved contribution from the downstream operations will “help cushion the downside risks” of persistently weak palm oil prices.\u003C/p>",{"id":10,"name":11},[3911],{"id":14,"name":15},{"name":3913,"file_name":3913,"url":3914},"palm_oil_cpo_b13.jpg","https://www.ioigroup.com/storage/403/palm_oil_cpo_b13.jpg",[],{"meta_title":3906,"meta_description":3917,"meta_keywords":28},"Affin says IOI should see its average CPO price improve to between RM2,500 and RM2,700 per tonne in the remainder of fiscal 2013. - AFP PETALING JAYA:...",{"id":443,"title":3919,"date":3920,"body":3921,"source":3922,"type":3923,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3640,"created_at":3640,"content_type":24,"related_news":3925,"metatag":3926},"Lower CPO prices, higher wages curb IOI profit","2013-02-21T00:00:00.000000Z","\u003Cp>KUALA LUMPUR (Feb 21): IOI Corp Bhd posted an 8% drop in second quarter net profit from second quarter a year ago as lower crude palm oil (CPO) prices and higher wages dampened performance of its upstream PLANTATION operations.\u003C/p>\r\n\u003Cp>In a statement to the exchange today, IOI said net profit stood at RM531 million in the second quarter ended December 31, 2012 (2QFY13) versus RM577.7 million previously as revenue declined 14% to RM3.59 billion from RM4.17 billion.\u003C/p>\r\n\u003Cp>\"The decrease is due mainly to lower profit contributions from plantation segment, which is mitigated by better performance from the manufacturing segment,\" IOI said. Although it netted higher fresh fruit bunch output during the quarter, the firm had registered CPO prices of RM2,292 a tonne compared to RM3,032 a year earlier, said IOI which is also a a property developer.\u003C/p>\r\n\u003Cp>Cumulative first-half net profit, however, rose 36% to RM1.14 billion from RM835.8 million a year earlier although revenue fell 16% to RM6.96 billion from RM8.31 billion.\u003C/p>\r\n\u003Cp>IOI said its outlook for the remaining months of FY13 is unlikely to be rosy. The firm said its upstream plantation division may still have to contend with lower CPO prices, besides higher wages amid manpower constraints.\u003C/p>\r\n\u003Cp>However, the segment is anticipated to do well in the medium term on firm demand for CPO, and a recovery in prices of the commodity.\u003C/p>\r\n\u003Cp>Downstream, IOI said its refineries and specialty-fats business are exhibiting recovery signs on cheaper palm oil amid a new export-duty for CPO in the country.\u003C/p>\r\n\u003Cp>\"The oleochemical business is expected to perform well in this financial year due to the lower feed stock prices,\" IOI said.\u003C/p>\r\n\u003Cp>The firm's property segment will also be closely watched. While Malaysian operations may generate higher sales in tandem with more real estate launches in FY13, the Singapore unit may encounter headwinds in the high-end market due to cooling measures introduced by Singapore lawmakers.\u003C/p>\r\n\u003Cp>As such, IOI is pinning its hopes on the mass-market home buyers across the causeway to sustain the overall performance of the group's property operations.\u003C/p>\r\n\u003Cp>\"In summary, the group is optimistic that its overall performance will be satisfactory despite the lower palm oil prices beginning in fourth quarter of 2012 and the weak global economy,\" IOI said.\u003Cbr />\r\n\u003C/p>",{"id":109,"name":110},[3924],{"id":14,"name":15},[],{"meta_title":3919,"meta_description":3927,"meta_keywords":28},"KUALA LUMPUR (Feb 21): IOI Corp Bhd posted an 8% drop in second quarter net profit from second quarter a year ago as lower crude palm oil (CPO) prices...",{"id":147,"title":3929,"date":3930,"body":3931,"source":3932,"type":3933,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3640,"created_at":3640,"content_type":24,"related_news":3935,"metatag":3936},"IOI Corp Q1 earnings up 134% to RM604.3m, boost from forex gains","2012-11-19T00:00:00.000000Z","\u003Cp>KUALA LUMPUR: IOI Corporation Bhd's earnings jumped 134% to RM604.30mil in its first quarter ended Sept 30, 2012 (Q1FY13) from RM258.10mil a year ago, boosted mainly by foreign exchange gains while it expects a challenging year ahead.\u003C/p>\u003Cp>The plantation heavyweight reported on Monday its revenue fell 18.7% to RM3.370bil from RM4.147bil a year ago. Earnings per share were 9.44 sen compared with 4.02 sen.\u003C/p>\u003Cp>IOI Corp's pre-tax profit of RM730.8mil was 72% higher than the RM424.1mil a year ago.\u003C/p>\u003Cp>\"The increase is due mainly to translation gain of RM259.2mil (Q1 FY2012 - loss of RM271.7mil) on foreign currency denominated borrowings and higher contributions from all major segments other than plantation segment,\" it said.\u003C/p>\u003Cp>On the plantation segment, it said profit from this division fell 28% to RM401.2mil from RM557.1mil due mainly to lower fresh fruit bunches production coupled with lower crude palm oil and palm kernel prices.\u003C/p>\u003Cp>\"Average CPO price realised for Q1FY13 was RM2,941 a tonne as compared to RM3,149 a year ago,\" it said.\u003C/p>\u003Cp>However, profit from its resource-based manufacturing operations jumped from RM33.2mil in Q1FY12 to RM73.2 million in Q1FY13 due mainly to higher margins from oleochemicals and specialty fats sub-segments. It was also aided by net fair value gain in forward foreign exchange and commodity forward contracts.\u003C/p>\u003Cp>The property development segment reported a 9% rise in profit to RM111.8mil mainly due to higher share of results from Singapore jointly controlled entities.\u003C/p>\u003Cp>The Q1, FY2013 pre-tax profit of RM730.8mil was 38% higher than RM528.7mil in the preceding quarter ended June 30, due mainly to translation gain of RM259.2mil versus RM233.8mil on foreign currency denominated borrowings, which was partially offset by non-recurring items recognised in Q4 FY2012.\u003C/p>\u003Cp>\"These non-recurring items include fair value gain on investment properties of RM165.0mil and gain arising from dilution of interest in an associate company of RM116.3mil.\u003C/p>\u003Cp>\"The plantation segment reported a 27% increase in operating profit from RM315.8mil for Q4FY12 to RM401.2mil for Q1FY13, contributed mainly by higher FFB production by 34% despite a lower CPO price realised,\" it said. \u003C/p>",{"id":10,"name":11},[3934],{"id":14,"name":15},[],{"meta_title":3929,"meta_description":3937,"meta_keywords":28},"KUALA LUMPUR: IOI Corporation Bhd's earnings jumped 134% to RM604.30mil in its first quarter ended Sept 30, 2012 (Q1FY13) from RM258.10mil a year ago,...",{"id":127,"title":3939,"date":3940,"body":3941,"source":3942,"type":3943,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3640,"created_at":3640,"content_type":24,"related_news":3945,"metatag":3946},"IOI Q4 earnings dip on lower profit from plantation segment","2012-08-28T00:00:00.000000Z","\u003Cp>PETALING JAYA: IOI Corp Bhd reported lower earnings of RM401.64mil in the fourth quarter ended June 30 and RM1.79bil for the financial year.\u003C/p>\u003Cp>In its filing with Bursa Malaysia, the plantation heavyweight said the 26.68% decline in the fourth quarter earnings from RM547.82mil a year ago was attributed to lower profit from the plantation and resource-based manufacturing segments.\u003C/p>\u003Cp>Translation loss on foreign currency denominated borrowings of RM233.8mil also contributed to the company’s lower earnings.\u003C/p>\u003Cp>However, the RM116.3mil gain on dilution of interest in an associated company partially offset the decline.\u003C/p>\u003Cp>Revenue for the quarter fell by 13.3% to RM3.75bil from RM4.32bil a year ago. Earnings per share were 6.25 sen compared with 8.54 sen in the previous year. IOI Corp had proposed a dividend of 8.5 sen per share.\u003C/p>\u003Cp>The plantation segment profit decreased by 36% to RM315.8mil for the quarter, compared to RM489.7mil previously. The decrease was partially due to lower fresh fruit bunch (FFB) production and lower crude palm oil (CPO) price as well as higher cost of production. FFB production for the quarter fell 28% to 664,192 tonnes from 919,786 tonnes previously.\u003C/p>\u003Cp>Meanwhile, the resource-based manufacturing profit decreased to RM40.6mil in the quarter from RM105.7mil a year ago due to lower margins from specialty fats and lower sales from oleochemicals, as well as lower contribution from an associate company.\u003C/p>",{"id":10,"name":11},[3944],{"id":14,"name":15},[],{"meta_title":3939,"meta_description":3947,"meta_keywords":28},"PETALING JAYA: IOI Corp Bhd reported lower earnings of RM401.64mil in the fourth quarter ended June 30 and RM1.79bil for the financial year.In its fil...",{"id":3949,"title":3634,"date":3950,"body":3951,"source":3952,"type":3953,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3640,"created_at":3640,"content_type":24,"related_news":3955,"metatag":3956},109,"2012-08-15T00:00:00.000000Z","\u003Cp>Genting Bhd topped the list of companies that paid out higher remuneration to their directors last year, with a big payout of RM117.69 million, according to a Malaysian Business survey.\u003C/p>\r\n\u003Cp>The top 20 companies forked out RM534.95 million last year, up 17 per cent from previously, while 600 companies surveyed, paid out over RM1 million.\u003C/p>\r\n\u003Cp>Genting also had the highest remuneration band of RM113 million to RM113.05 million for a single director but did not name him.\u003C/p>\r\n\u003Cp>The top executive listed is its Executive Chairman and Chief Executive Tan Sri Lim Kok Thay.\u003C/p>\r\n\u003Cp>The second top company was IOI Corporation Bhd, which paid its boards RM60.30 million, up 7.1 per cent from 2010.\u003C/p>\r\n\u003Cp>The public-listed company paid a remuneration band of RM56.75 million to RM56.80 million to its highest-ranking director.\u003C/p>\r\n\u003Cp>\"We assume that the recipient was IOI Corp Director and Founder Tan Sri Lee Shin Cheng,\" the Malaysian Business said in a statement today.\u003C/p>\r\n\u003Cp>Genting's subsidiary, Genting Malaysia Bhd, which paid out more than RM48 million to its top executive, took the third spot.\u003C/p>\r\n\u003Cp>The survey noted that the payout might have been made to the same person, taking into view the possibility of double counting.\u003C/p>\r\n\u003Cp>Companies that lowered their boardroom remuneration last year include Berjaya Corporation Bhd, which paid out RM20.67 million or 12.5 per cent less to its board members.\u003C/p>\r\n\u003Cp>The highest remuneration paid to a single director in the company was in the RM10.35 million to RM10.40 million band, also lower than the RM11.70 million to RM11.75 million paid out previously.\u003C/p>\r\n\u003Cp>CIMB Group Holdings Bhd paid out RM16.49 million or 10.9 per cent less to its board members last year.\u003C/p>\r\n\u003Cp>The remuneration paid to its Group Managing Director and Group Chief executive Officer Datuk Seri Mohd Nazir Razak last year was lower at RM8.70 million as compared with RM12 million in 2010. -- Bernama\u003C/p>",{"id":3536,"name":3537},[3954],{"id":14,"name":15},[],{"meta_title":3634,"meta_description":3643,"meta_keywords":28},{"id":3958,"title":3959,"date":3960,"body":3961,"source":3962,"type":3963,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3640,"created_at":3640,"content_type":24,"related_news":3965,"metatag":3966},111,"IOI, Public Bank lift KLCI, regional bourses up","2012-07-19T00:00:00.000000Z","\u003Cp>KUALA LUMPUR: All key regional markets chalked up gains at midday on Thursday, July 19, 2012, as sentiment was boosted by earnings from US, amid signs of recovery in the economy.\u003C/p>\r\n\u003Cp>At 12.30pm, the FBM KLCI was up 1.06 points or 0.06% to 1,646.06, off the all-time intra-day high of 1,647.94 - boosted by gains in plantation heavyweight IOI Corp and Public Bank.\u003C/p>\r\n\u003Cp>Turnover on the local stock exchange was 510.38 million shares valued at RM565.07mil. There were 313 gainers, 316 losers and 331 stocks unchanged.\u003C/p>\r\n\u003Cp>Reuters reported Asian shares rose on Thursday as strong corporate profits from US bellwethers allayed fears of a slowdown in earnings, particularly for the beleaguered tech sector, while the euro steadied after overnight weakness.\u003C/p>\r\n\u003Cp>Data showing groundbreaking on new US homes rose in June to its fastest pace in over three years also supported the market, after a series of recent reports had pointed to worrying signs that the economy was cooling, said the report.\u003C/p>\r\n\u003Cp>Among the key regional markets, Japan's Nikkei 225 rose 0.86% to 8,801.76; Hong Kong's Hang Seng Index advanced 1.6% to 19,547.33; Shanghai's Composite Index 1.14% to 2,193.86; Taiwan's Taiex 1.45% to 7,151.56; South Korea's Kospi 1.71% higher at 1,825.62 and Singapore's Straits Times Index 0.42% to 3,029.92.\u003C/p>\r\n\u003Cp>US light crude oil rose 60 cents to US$90.47 and Brent 76 cents to US$105.92 while spot gold added US$4.68 to US$1,578.13.\u003C/p>\r\n\u003Cp>The ringgit continued to firm up against the US dollar to a high of 3.1485, the strongest against the greenback since May 29. By midday, the ringgit was at 3.1522.\u003C/p>\r\n\u003Cp>Crude palm oil for third-month futures added RM29 to RM3,022.\u003C/p>\r\n\u003Cp>At Bursa Malaysia, IOI Corp added 10 sen to RM5.39, pushing the KLCI up 1.51 points. United Plantations rose 60 sen to RM25.90 but with only 100 shares done, while Sungai Bagan added 14 sen to RM2.99.\u003C/p>\r\n\u003Cp>Among the finance-related counters, Public Bank rose 10 sen to RM14.34m adding 1.11 points to the KLCI. RHB Bank added six sen to RM7.54, Maybank and AMMB one sen each to RM8.78 and RM6.49.\u003C/p>\r\n\u003Cp>However, CIMB Bank and Hong Leong Bank shed two sen each to RM7.88 and RM13.28.\u003C/p>\r\n\u003Cp>SapuraKencana Petroleum shares rose 11 sen to RM2.45 with 15.56 million shares done. The call warrants, SKPetro-CB rose 4.5 sen to 24 sen and SKPetro-CD added three sen to 20 sen.\u003C/p>\r\n\u003Cp>SKPetro was rated a New Buy at BofA-Merrill Lynch with a price target of RM3.06.\u003C/p>\r\n\u003Cp>BAT was the top loser, down 82 sen to RM57.06, F&N fell 18 sen to RM18.50, Pharmaniaga 10 sen to RM10.12 while Keck Seng shed eight sen to RM4.31. FimaCorp and Tradewinds lost six sen each to RM6.34 and RM8.67. \u003Cbr />\r\n\u003C/p>",{"id":10,"name":11},[3964],{"id":14,"name":15},[],{"meta_title":3959,"meta_description":3967,"meta_keywords":28},"KUALA LUMPUR: All key regional markets chalked up gains at midday on Thursday, July 19, 2012, as sentiment was boosted by earnings from US, amid signs...",{"id":3969,"title":3970,"date":3971,"body":3972,"source":3973,"type":3974,"image":28,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3640,"created_at":3640,"content_type":24,"related_news":3976,"metatag":3977},112,"Multinational, Malaysia ICT firms find PFCC attractive","2012-07-10T00:00:00.000000Z","\u003Cp>IOI Properties Bhd, a heavyweight property developer in terms of size and profitability, expects its Puchong Financial Corporate Centre (PFCC) to be one of the most preferred corporate and financial hubs in the Klang Valley. \u003C/p>\r\n\u003Cp>Multinational and local ICT companies looking for office towers in Puchong are attracted to PFCC as it has been accorded the MSC Malaysia Status and is recognised as a MSC Malaysia Cybercentre. \u003C/p>\r\n\u003Cp>In a statement issued yesterday, IOI Properties said its subsidiary, Flora Development Sdn Bhd,signed a collaboration agreement with Multimedia Development Corp Sdn Bhd (MDeC) last month for the MSC Malaysia Cybercentre status. \u003C/p>\r\n\u003Cp>The MSC Malaysia Cybercentre status is a prestigious award given to niche business locations that meet the MSC Malaysia Cybercentre standards and criteria. \u003C/p>\r\n\u003Cp>The criteria are to provide a world-class physical and information infrastructure and globally competitive telecommunication tariffs to deliver the MSC Malaysia Bill of Guarantees to MSC-status companies. \u003C/p>\r\n\u003Cp>Currently, there are fewer than ten buildings in the Klang Valley with the MSC status. \u003C/p>\r\n\u003Cp>PFCC, located at Bandar Puteri Puchong, features a business class hotel and four office towers, where two have been built and the rest are to be completed by mid-2013. \u003C/p>\r\n\u003Cp>The buildings are equipped with dual electricity source and state-of-the-art information technology features such as a fibre optic backbone to support high-speed broadband Internet access and mobile coverage. \u003C/p>\r\n\u003Cp>Already PFCC has secured anchor tenants like the Bank Of China, OCBC Bank, Malaysia Building Society Bhd and VADS Business Process Sdn Bhd for the two completed buildings. \u003C/p>\r\n\u003Cp>Operating from PFCC will allow the companies to substantially reduce their cost of doing business, the statement said. \u003C/p>\r\n\u003Cp>IOI Properties Bhd, a subsidiary of IOI Group, is one of the largest property developers in Malaysia with a land bank of 2,500ha. \u003C/p>",{"id":3536,"name":3537},[3975],{"id":14,"name":15},[],{"meta_title":3970,"meta_description":3978,"meta_keywords":28},"IOI Properties Bhd, a heavyweight property developer in terms of size and profitability, expects its Puchong Financial Corporate Centre (PFCC) to be o...",{"id":3980,"title":3981,"date":3982,"body":3983,"source":3984,"type":3985,"image":3987,"highlight_image":28,"published":22,"is_featured":814,"updated_at":3640,"created_at":3640,"content_type":24,"related_news":3990,"metatag":3991},114,"Up Close & Personal with Alfred Haandrikman","2012-07-07T00:00:00.000000Z","\u003Cp>\u003Cstrong>Dr Alfred Haandrikman, IOI Loders Croklaan R&D director gets . . . \u003C/strong>\u003C/p>\r\n\u003Cp>RIGHT in the centre of the city of Amersfoort stands a 15th century church tower. In that church tower, stamped next to a big cross on the floor is a sign that says, “This is the centre point of the Netherlands”.\u003C/p>\r\n\u003Cp>This is the city that IOI Loders Croklaan group research and development (R&D) director Dr Alfred Haandrikman was born in. Although Amersfoort is a city that is growing rapidly, it still boasts of a well-preserved and protected medieval centre. \u003Cbr />\u003C/p>\u003Ctable align=\"center\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\" width=\"10%\">\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cimg alt=\"\" src=\"https://www.ioigroup.com/Files/News/image/3ggwygsu.jpg\" />\u003C/td>\u003C/tr>\u003C/tbody>\u003C/table>\u003Cp>\u003Cbr />\u003C/p>\r\n\u003Cp> “It is a beautiful city, with lots of history and character. The centre point in the church was used for map-making in the olden days. It was the zero point in the Netherlands,” Haandrikman tells \u003Cem>StarBizWeek\u003C/em>.\u003C/p>\r\n\u003Cp>\u003Cstrong>Penchant for science\u003C/strong>\u003C/p>\r\n\u003Cp>Growing up, Haandrikman says he always had a curiosity and interest in both science and nature.\u003C/p>\r\n\u003Cp>“In secondary school in the Netherlands, you are required to choose which field of study you would want to do. It was either science or, languages and arts,” he says.\u003C/p>\r\n\u003Cp>The choice was an obvious one for him. Having had an interest and a passion that was nurtured from a young age, he chose to study science. His next choice after secondary school was to go through special education to become a lab technician.\u003C/p>\r\n\u003Cp>After graduating, he felt it was a natural choice for him to work in a lab.\u003C/p>\r\n\u003Cp>“It seemed an environment that was suitable,” he says. He started work as a lab technician in the organic chemistry department in a university. “It was a completely new world to me. It was about learning how a university works and how research works to complement it,” he explains.\u003C/p>\r\n\u003Cp>At that time, the lab Haandrikman was working in had started research on the recombination of DNA. It is the creation of artificial DNA through the process of combining two or more sequences that would not normally occur together.\u003C/p>\r\n\u003Cp>“It was a very controversial topic back then. However, it sparked my interest in biology,” he recalls.\u003C/p>\r\n\u003Cp>The biggest turning point of his life, he enthuses, was when he decided to quit his job as a lab technician and study again.\u003C/p>\r\n\u003Cp>“I went back to university to study biology. The chemistry of life is very incredible. To understand how life works, on a molecular level is an amazing thing,”\u003C/p>\r\n\u003Cp>His eyes lights up as he expresses his intriguing interest of the remarkable intricacies and workings of life.\u003C/p>\r\n\u003Cp>“I worked at Eurogenetics while I studied. After which I decided to pursue a PhD in biology. I studied the biology of making cheese and dairy products, and how bacteria can be used to make products via the fermentation process. I found that by influencing the life of bacteria you can influence the kind of products produced. This only increased my interest in life sciences,” he says.\u003C/p>\r\n\u003Cp>\u003Cstrong>Journey towards oleochemicals\u003C/strong>\u003C/p>\r\n\u003Cp>Haandrikman currently acts as group R&D director at IOI Loders Croklaan, which became a unit of IOI Corp Bhd in 2002. He previously was employed at Lipid Nutrition, a company that was part of the Loders Croklaan group, which specialised in the development and marketing of lipids. Loders Croklaan specialises in producing these lipids with health benefits for the end consumer.\u003C/p>\r\n\u003Cp>Loders Croklaan produces a vegetable fat developed from palm oil called Betapol, which mimics human milk fat in both structure and functionality. Betapol is an ingredient that replaces the fats found in infant formula that is typically taken from various vegetable oils, which has a different structure than human milk fat. In 2011, Lipid Nutrition was divested and the Betapol was then taken over by Loders Croklaan, the mother company. Haandrikman moved with the company to Loders Croklaan where he assumed the role of group R&D director.\u003C/p>\r\n\u003Cp>“Instead of R&D director of Lipid Nutrition, I now have a coordinated role in the group. My role is to coordinate research between the three regions in Europe, North America, and Asia,” he says.\u003C/p>\r\n\u003Cp>The IOI Loders Croklaan group has three manufacturing facilities situated in Chicago in the US, Wormeerver in the Netherlands, and Pasir Gudang in Johor.\u003C/p>\r\n\u003Cp>Elaborating on his role in the company, Haandrikman says: “There are three teams that report to its specific region. I have to make sure that the research and findings are properly coordinated between them. This is the first role in my career that I do not have anyone reporting to me directly.”\u003C/p>\r\n\u003Cp>He stresses the importance of communication as, “they communicate their research to me, and I have to make sure they are on the right path.\u003C/p>\r\n\u003Cp>“It is necessary for me to ensure that there is sufficient communication between the regions. It is important to have a global communication with all the lines in the company. You have to be very open and try to communicate well. Communication is key to establishing any relationship, and in getting your point across,” he says.\u003C/p>\r\n\u003Cp>Having a sincere interest in the subjects he works on drives him to do better.\u003C/p>\r\n\u003Cp>Haandrikman has a general interest in how food products are able to influence the health of consumers.\u003C/p>\r\n\u003Cp>He explains: “It is very interesting to come to a company such as IOI Loders Croklaan where it has its own natural products and resources like palm oil and palm kernel oil. They are products nature has provided, and we can work with them to add value to products.”\u003C/p>\r\n\u003Cp>\u003Cstrong>Beauty in natural oils\u003C/strong>\u003C/p>\r\n\u003Cp>He sees the beauty in sustainable ingredients such as palm oil.\u003C/p>\r\n\u003Cp>“You can grow them again and again. It's a different kind of chemistry than the chemistry of mineral oils. Natural resources with the likes of palm oil are infinite, and that make them very nice ingredients to work with,” he says.\u003C/p>\r\n\u003Cp>He opines that the natural industry will continue to grow as society moves to become more organic and less artificial. As science develops, there will be more chances for more natural ingredients to be introduced into society.\u003C/p>\r\n\u003Cp>Haandrikman married his wife in 1980. “It was quite a while ago,” he laughs. Together, he and his wife have two daughters and a son. He met his wife while they were studying to be lab technicians. She works at a lab in a hospital in the Netherlands.\u003C/p>\r\n\u003Cp>All his three children are either working or studying in the field of science.\u003C/p>\r\n\u003Cp>\u003Cstrong>Science in the family\u003C/strong>\u003C/p>\r\n\u003Cp>“My 25-year old daughter is a nurse in a hospital in Amersfoort. My second daughter, who is 22, is currently studying in a medical school in Amsterdam. To complete it all, my 19-year old son just left home to purse his studies in food technology,” he says fondly.\u003C/p>\r\n\u003Cp>A close-knit family is one that has fun with each other. Parents of such a unit often have difficulty when their children leave “the nest”.\u003C/p>\r\n\u003Cp>“My son recently left for university. I feel sad because we always have a good time when everyone is home. We laugh a lot and enjoy our time together. But it's different now that they've all left home,” he expresses.\u003C/p>\r\n\u003Cp>While he says it is hard to let go, an “empty nest” is not necessarily a bad thing.\u003C/p>\r\n\u003Cp>“Two weeks ago, my wife and I were in Italy holidaying for a whole week. We can do whatever we want without having to compromise like when the kids were around,” he smiles.\u003C/p>\r\n\u003Cp>What is important to him is for his children to be happy and for them to be able to make their own decisions in life.\u003C/p>\r\n\u003Cp>“I try to help them as much as possible in deciding the education and career path they think they could be happy with,” he says.\u003C/p>\r\n\u003Cp>Choosing an education and a career path that one enjoys is crucial. He feels that if a person chooses something they enjoy, he or she will really excel in it.\u003C/p>\r\n\u003Cp>“If they do something I choose for them, which they aren't happy with, I don't think it's going to work out,” he says in regards to his children.\u003C/p>\r\n\u003Cp>“You have to have a good time in whatever you do because life is too short not to have fun,” he laughs.\u003C/p>\r\n\u003Cp>\u003Cstrong>Chef at home\u003C/strong>\u003C/p>\r\n\u003Cp>When asked what would have been his second career choice, Haandrikman wonders rhetorically: “Perhaps a cook?”\u003C/p>\r\n\u003Cp>His passion for cooking goes beyond just conjuring something edible to fill the stomachs at home.\u003C/p>\r\n\u003Cp>“When I'm home in time to do the cooking, I'll do it. If my wife starts first, I often take over when I get home,” he says.\u003C/p>\r\n\u003Cp>He compares cooking to carrying out experiments in a lab. “It is so similar. Doing an experiment is like cooking, not the other way around. When I do an experiment in the lab, I always have a tendency to stir the chemicals just like I do when I cook,” he laughs.\u003C/p>\r\n\u003Cp>Italian cuisine is one Haandrikman loves and seems to have mastered.\u003C/p>\r\n\u003Cp>“I like using spices, and getting the flavour out of natural ingredients. You cannot cover up your mistakes by adding extra spices. You have to do it right the first time,” he says.\u003C/p>\r\n\u003Cp>He feels that cooking for more people is a lot more fun. “The more, the better,” he says.\u003C/p>\r\n\u003Cp>Besides cooking, Haandrikman likes photography and reading literature. “My compact camera is always with me. I carry it wherever I go,” he says.\u003C/p>\r\n\u003Cp>He admits that the real professional photographer in the family is his wife. “Oh, she lugs that huge professional DSLR camera around!” he exclaims.\u003C/p>\r\n\u003Cp>Another item that can be found in his carry bag is his \u003Cem>iPad\u003C/em>.\u003C/p>\r\n\u003Cp>He proudly says: “I love using it. Keeping up with technology is fun. I have to be honest, I bought it a year ago and kept it in the packaging on the table for a while because I wanted to show off to my children that I had bought one. My son then comes and shoves me aside and says, Let me take care of it.' So till this day, I don't know what he has done with it. It works anyway,” he laughs.\u003C/p>\r\n\u003Cp>\u003Cstrong>FACTLIFE\u003C/strong>\u003C/p>\r\n\u003Cp>\u003Cstrong>BORN\u003C/strong>: Aug 28, 1957 in Amersfoort, Netherlands\u003Cbr />\r\n    \u003Cstrong>PERSONAL\u003C/strong>: Married with three children\u003Cbr />\r\n  \u003Cstrong>HIGHEST QUALIFICATION\u003C/strong>: PhD in Biology\u003Cbr />\r\n  \u003Cstrong>CAREER\u003C/strong>: IOI Loders Croklaan R&D director\u003Cbr />\r\n  \u003Cstrong>NOTEWORTHY\u003C/strong>: Quitting his job, as a lab technician was a big turning point\u003Cbr />\r\n  \u003Cstrong>FAVOURITE FOOD\u003C/strong>: Chinese food\u003Cbr />\r\n  \u003Cstrong>FAVOURTIE PLACE\u003C/strong>: Home in the Netherlands\u003Cbr />\r\n  \u003Cstrong>HOBBIES\u003C/strong>: Cooking, literature, photography\u003Cbr />\r\n  \u003Cstrong>VALUES\u003C/strong>: To provide his children with the circumstances to make them happy\u003Cbr />\r\n  \u003Cstrong>INSPIRATION\u003C/strong>: People who make use of opportunities, or circumstances that provide them with opportunities.\u003C/p>",{"id":10,"name":11},[3986],{"id":14,"name":15},{"name":3988,"file_name":3988,"url":3989},"3ggwygsu.jpg","https://www.ioigroup.com/storage/404/3ggwygsu.jpg",[],{"meta_title":3981,"meta_description":3992,"meta_keywords":28},"Dr Alfred Haandrikman, IOI Loders Croklaan R&D director gets . . . RIGHT in the centre of the city of Amersfoort stands a 15th century church tower. I...",{"id":5,"title":6,"date":7,"body":8,"source":3994,"type":3995,"image":3997,"highlight_image":3998,"published":22,"is_featured":22,"updated_at":23,"created_at":23,"content_type":24,"related_news":3999,"metatag":4000},{"id":10,"name":11},[3996],{"id":14,"name":15},{"name":17,"file_name":17,"url":18},{"name":20,"file_name":20,"url":21},[],{"meta_title":6,"meta_description":27,"meta_keywords":28},{"id":4002,"title":4003,"bg_image":4004,"extension":4006,"links":4007,"meta":4011,"stem":4017,"__hash__":4018},"prefooters/prefooter/news.json","Everything you need to know, \u003Cbr> right at your fingertips.",{"url":4005},"/img/latest-news-highlights/footer.jpg","json",[4008],{"label":4009,"url":4010},"Check out OUR LATEST PUBLICATIONS ","/media/publications",{"path":4012,"body":4013},"/prefooter/news",{"title":4003,"links":4014,"bg_image":4016},[4015],{"label":4009,"url":4010},{"url":4005},"prefooter/news","DCPJQWzWAqp_dlVlvbck-rzQZrkxCa-HE0Mfnh72cBs",1777878335745]