IOI Group
 |
|
| Publicly traded company | |
| Traded as | MYX: |
| ISIN | MYL1961OO001 |
| Industry | Conglomerate (palm oil, chemical manufacturing, property development, investment, resort management) |
| Founded | 1969 |
| Headquarters | Two IOI Square, IOI Resort, 62502 Putrajaya, Malaysia |
|
Area served
|
Southeast Asia |
|
Key people
|
Lee Shin Cheng, Chairman Lee Yeow Chor, CEO |
| Products | Palm oil, oleochemicals |
|
Number of employees
|
30,000 |
| Website | www |
IOI Corporation Berhad (MYX: ) commonly referred to as IOI, was incorporated on 31 October 1969 as Industrial Oxygen Incorporated Sdn Bhd. IOI is one of Malaysia's biggest conglomerates. It ventured into property development in 1984, followed by oil palm plantations and refineries in 1985. IOI was listed on the (KLSE)—now known as Bursa Malaysia—in 1980.
The group is headed by Lee Shin Cheng, the executive chairman. Lee Yeow Chor is CEO.
As of September 2016[update], IOI Group employed more than 30,000 persons from more than 25 countries.
IOI Group's fiscal year runs from 1 July YYYY to 30 June of the following year.
Palm oil plantations are IOI's biggest income generator. As of 2015 about 67 percent of the conglomerate's profits came from its oil palm plantations. The group controls 230,000 hectares of oil palm plantations in Malaysia and Indonesia. It has 15 palm oil mills with total milling capacity of 4.75 million tonnes of FFB (fresh fruit bunches) per year from its 90 estates throughout Malaysia and Indonesia.
With oil yield of some six tonnes per hectare per year at its mature estates, IOI is the most efficient plantation company in the world. Malaysia's oil palm average yield for the last 20 years has been stagnant at four tonnes per hectare per year.
Nestlé stopped buying palm oil from IOI in 2012. The United Nations Environment Programme says palm oil production is the main cause of deforestation, which is occurring at a rate of about two per cent per year. Indonesia is also the world's third largest carbon emitter, largely as a result of deforestation and the burning of peatlands.
IOI develops real estate makes and property investments. IOI owns two resort hotels, the Marriott Putrajaya Hotel and Palm Garden Hotel in Putrajaya. The property segment contributes around 18 per cent of the group's earnings.
...
Wikipedia