Wednesday, 23 July, 2014

Published July 16, 2014
Felda Global Ventures regroups into 6 clusters
It aims for eightfold increase in revenue to RM100b by 2020, to be among top 10

FGV is now restructured into oil palm upstream, oil palm downstream, sugar, rubber, research and development (R&D) and transport, logistics, marketing and others (TLMO) - PHOTO: BLOOMBERG

[KUALA LUMPUR] Felda Global Ventures Holdings Bhd (FGV) has restructured its organisations into six clusters, with some targeted to become world leaders, under a transformation programme that is expected to bear fruit by 2020, according to The Business Times in Malaysia.

The world's largest palm oil producer aims to be among the top 10 global agri-players by then, with an eightfold revenue increase to more than RM100 billion (S$38.9 billion).

"This transformation journey will be very rewarding because there is support from a dedicated, forward-looking and ambitious management team," said group president and chief executive officer Mohd Emir Mavani Abdullah in a statement.

"The eightfold growth target will significantly shift FGV's global competitive position. The new organisational structure is lean, yet scaleable, and guarded by a robust governance and integrity framework that is tailored for future global growth," said Mr Mohd Emir, who is coming to a year in office.