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FGV-MPOB B10 Usage Test Successful

FGV Holdings Berhad (FGV) in collaboration with the Malaysian Palm Oil Board (MPOB), has achieved impressive results in biodiesel testing using a 10% (B10) palm methyl ester (PME) mixture in its logistics, plant and plant operations.

The objective of the B10 usage test is a sign of support for government efforts to increase the current B7 biodiesel usage mandate to B10 and to prove scientifically that an increase of 3% does not negatively impact the performance and safety of transport and industrial machinery.

FGV Group President and Chief Executive Officer, Dato’ Zakaria Arshad said FGV and MPOB conducted a comprehensive B10 usage test since August 2017 through the logistics division before being expanded to selected plantation and mill sectors beginning May 2018.

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Export Tax Suspension to Increase FGV Exports Significantly

The government’s decision to suspend the crude palm oil (CPO) export tax for three months is expected to benefit plantation companies with significant upstream operations and strengthen the commodity prices for the first quarter of this year.

FGV Group President and Chief Executive Officer, Dato’ Zakaria Arshad said industry players are faced with issues of high CPO stocks level and strengthening of the Ringgit that have pressured the CPO price to around RM2,500 per MT.

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FGV in the Black, Riding the Momentum

IMG_8226KUALA LUMPUR, 29 AUGUST 2016 – Felda Global Ventures Holdings Berhad (FGV) has returned to black in the second quarter ended 30 June 2016 registering revenue of RM4.14 billion and profit before tax and zakat RM108 million compared to a loss of RM70 million in the first quarter.

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