Felda Global Ventures Holdings Bhd (FGV), the world’s third largest oil palm plantation operator, is eyeing a bigger external network and to tap the Pakistan, India and Bangladesh markets this year.
Senior Vice-President and Acting Head of Downstream, Zakaria Arshad of the company said these countries offered tremendous business potentials, especially in exporting downstream products which FGV has to offer.
“FGV is targeting markets that have few players and at the same time have big consumer spending of which most of them are from the lower income level.
“We want them to have the same opportunity to have better quality products at affordable prices,” he told Bernama during the company’s trip to its outlet in Cebu on Saturday.
Zakaria said the company has done a lot of research before entering any specific country.
“FGV has penetrated most Asean countries — Laos, Myanmar, Cambodia, Philippines and Vietnam. So now it is time for us to move beyond South-East Asia.
“We have identified that these three countries suit our sales strategies because most of their cooking uses oil.
“They also have huge populations and the Muslims make up quite a big number. We are waiting for the right time before making any presence there,” he said.
Zakaria said FGV also planned to export its downstream products to selected Indonesia’s markets such as Aceh and Kalimantan.
FGV, which operated in 10 countries across four continents, is principally engaged in three main business segments — plantations, downstream products and sugar.
In its downstream business segment, FGV produces soyabean and canola products as well as olechemicals.
The company has interests in palm oil refineries and downstream processing facilities in Malaysia, Indonesia, China, Turkey and South Africa as well as a facility for other oils and fats in the US.