FGV Holdings Berhad[a] (Abbreviation: FGV, sometimes FGVH; or formerly Felda Global Ventures Holdings Berhad; MYX: 5222) is a Malaysian-based global agribusiness and food company. It is an affiliate of the Federal Land Development Authority (FELDA).
 | |
| Company type | Publicly traded government-owned investment company |
|---|---|
| MYX: 5222 | |
| ISIN | MYL5222OO004 |
| Industry | Agribusiness and Food |
| Founded | 19 December 2007[1] |
| Headquarters | , |
Key people |
|
| Website | fgvholdings |
With operations worldwide, FGV produces oil palm and rubber products, oleochemicals and sugar products, with materials sourced from FELDA colonies throughout the country.[2]
Background
Its initial public offering in 2012 was the third largest in the world that year after Facebook and biggest IPO in Asia which raised US$3.1 billion.[3][4]
It is the third largest palm oil company in the world by planted acreage.[3] FGV manages a total land bank of 439,230 hectares in Malaysia and Indonesia including land under Land Lease Agreement (LLA) with Felda. The company produces approximately 3 million metric tonnes of crude palm oil annually.
In 2009, FGV purchased 51% of the largest sugar refiner in Malaysia, MSM Malaysia Holdings from PPB Group Berhad (founded by Robert Kuok) for RM1.25 billion.[5]
On July 3, 2018, the company dropped the phrase "Felda Global Ventures" from their corporate name and renamed as FGV Holdings Berhad.[6][7]
US sanctions
On 1 October 2020, the company's products were banned by U.S. Customs and Border Protection, citing forced labour and human rights abuses, including "physical and sexual abuse, debt bondage and abusive conditions."[8]
