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Primary Industries Minister says will work with FGV to develop downstream palm oil segment

September 4, 2018 6:57 AM
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PETALING JAYA: Primary Industries Minister Teresa Kok has met with FGV Holdings Bhd and is willing to work with the company in relation to developing the downstream palm oil segment.

Kok said at a press conference during International Strategy Institute's Corporate Malaysia Summit 2018, that the ministry is willing to work with FGV Holdings if the has company plans to develop the downstream palm oil segment, by providing assistance in attracting investors for that segment.

"I met with the FGV team last week. I know it's challenging for FGV. I am hopeful because I find the new team members are committed to turnaround FGV and they have briefed me on their plans and so on," she said.

"I told them that if they have plans to develop the downstream sector of palm oil industry, my ministry is willing to work together with them. I told them if I have opportunities to meet with any investors interested to develop downstream industries or palm oil, we will assist them to achieve it," she added.

Kok said the government in turn will need FGV's help to engage with small palm oil holders to get Malaysian Sustainable Palm Oil (MSPO) certification in line with the government's goal to get all Malaysian palm oil MSPO certified.

On another note, she said to maintain Malaysian forestry land, the government has made a commitment to the international community that there will be no more expansion to palm oil estates.

Kok said although Malaysian palm oil came under the scanner for issues such as deforestation and wildlife endangerment, the reality is 54.6% of Malaysia's forestry land is intact.

"Malaysia (had made a) commitment to the international community that there will be no expansion to oil palm estates.We have committed that we will maintain more than 54% of the land as forest area," she said.

Source: thesundaily.my

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