Kuala Lumpur – FGV Holdings Berhad (FGV) wishes to address recent reports regarding the ongoing corporate exercise by IFFCO Group, a United Arab Emirates (UAE)-based conglomerate and joint venture partner of FGV.

The FGV IFFCO Group, a joint venture between FGV and IFFCO, comprises three companies: FGV IFFCO Sdn. Bhd. (FISB), an oils and fats refinery in Port Klang, FGV IFFCO Trading Sdn. Bhd. (FIT) a trading subsidiary in Kuala Lumpur, and FGV IFFCO France SA (FIF) a trading subsidiary in France. Incorporated in 2006, FGV IFFCO Group (formerly FELDA IFFCO) markets a wide range of vegetable oil products, including cooking oils, fats and derivatives, while also providing logistics solutions for sales and distribution.

The joint venture companies operate independently with minimal exposure to IFFCO Group’s corporate exercise. All transactions are conducted under market-driven commercial terms, with FGV representatives on the boards and management to ensure sound governance and prudent management.

To date, the FGV IFFCO Group remains resilient and continues to deliver value to shareholders. For the year-to-date, FGV IFFCO Group recorded a profit of RM49 million, reflecting stable operations despite broader market headwinds.

FGV continues to work closely with IFFCO Group and receives regular updates on the exercise. This reflects the strength of the partnership, with both parties maintaining close engagement to safeguard business continuity. Market confidence remains intact as IFFCO’s businesses and brands continue to demonstrate stability.

“Our joint venture companies remain resilient and unaffected by this exercise. Supported by strong fundamentals and sound governance, they continue to deliver value to stakeholders and maintain the confidence of the market. As a shareholder, FGV gives its full commitment to supporting the FGV IFFCO Group and will ensure that the joint venture is managed with the highest professionalism to deliver sustainable value to shareholders,” said Fakhrunniam Othman, Group Chief Executive Officer of FGV.

FGV’s own financial standing remains steady, underscored by its AA- credit rating, reflecting the confidence that financial institutions have in the Group’s stability and outlook. Above all, FGV wishes to reassure stakeholders that its joint ventures with IFFCO remain firm amid the IFFCO Group’s ongoing exercise.