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Felda Global Ventures Aims To Grow Revenue To RM100 Billion In Six Years
The FGV transformation initiative is structured to increase revenue eight-fold in six years, group president and CEO Mohd Emir Mavani Abdullah said in a statement.
Coming to a year in office at FGV, Mohd Emir said the eight-fold growth target would significantly shift FGV's global competitive position.
FGV has been restructured into six clusters, namely oil palm upstream, oil palm downstream, sugar, rubber, research and development, transport, logistics, marketing and others (TLMO).
Each cluster has laid out its own strategic initiatives to achieve its targets by 2020.
"Across the group, there is a strong belief that this transformation journey will lead to success and we are confident of achieving our goals," Mohd Emir said.
He said the palm upstream cluster has targeted to retain its global leadership position in plantations by being the largest CPO producer and holding the largest land bank.
The downstream cluster is looks at capturing higher margin and high-growth products in the specialty ingredients segment to become one of the world's top three players in industrial fats and gain regional heavyweight status in palm-based consumer goods.
The cluster is also pursuing significant shares in the biodiesel and renewable energy market globally.
Through MSM Holdings, FGV is already the world's largest sugar producer.
However, in an effort to continue strengthening its position, the sugar cluster has set strategic priorities to increase raw sugar production to complement its downstream business.
The cluster aims to be one of the top global companies in refined sugar business, with production volume of four million metric tonnes by 2020.
The newly-formed rubber cluster is currently focused on rubber processing businesses and is set to become a leading integrated rubber player and commanding the world's third highest sales in processed rubber.
This will be driven by midstream growth, upstream expansion, downstream ventures and trading activities, giving the cluster complete control of the value chain, Mohd Emir said.
Meanwhile, the R&D cluster aims to become the premier private oil palm research institution in the world, and a leading research institution in rubber and sugar.
It will provide high quality agri-based products and services for both internal and external parties.
The application of the research, such as clone seedlings, by the downstream sector is crucial to support the internal growth across all FGV clusters, Mohd Emir said.
The TLMO cluster strives to become a global leader in trading, logistics and storage by 2020. The logistics will complement palm oil trading and this cluster is created as the strategic enabler for other core businesses.
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